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High-growth aspiration entrepreneurship and exit: the contingent role of market-supporting institutions

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  • Lucio Fuentelsaz

    (University of Zaragoza)

  • Consuelo González

    (University of Zaragoza)

  • Juan P. Maícas

    (University of Zaragoza)

Abstract

In this paper, we analyse entrepreneurial exit from an institutional lens and consider high-growth aspiration initiatives. We elaborate on the idea that institutions that are market-supporting reduce exit, while the level of high-growth aspiration entrepreneurship increases it. More importantly, we show that the existence of strong market-supporting institutions in a country decreases the positive relationship between the level of high-growth aspiration entrepreneurship and exit. We employ panel data of 74 countries for the years 2007–2017. Model estimations confirm our hypotheses.

Suggested Citation

  • Lucio Fuentelsaz & Consuelo González & Juan P. Maícas, 2021. "High-growth aspiration entrepreneurship and exit: the contingent role of market-supporting institutions," Small Business Economics, Springer, vol. 57(1), pages 473-492, June.
    • Handle: RePEc:kap:sbusec:v:57:y:2021:i:1:d:10.1007_s11187-020-00320-4
    DOI: 10.1007/s11187-020-00320-4
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    More about this item

    Keywords

    Exit; High-growth aspiration entrepreneurship; Market-supporting institutions; Global entrepreneurship monitor;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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