Knowledge and Culture on Entrepreneurship
AbstractThe paper contributes to the interpretation of entrepreneurship based on the effect of knowledge and the cultural background. Entrepreneurship is defined as both the self-employment and the entry density rates, comparing the two models. The present paper uses a series of variables to express these effects, which are analysed with a principal component analysis and a regression analysis. The results confirm that cultural background strongly affects both entrepreneurship rates. Knowledge creation does not affect entrepreneurship rates, as its impact on entrepreneurship is long-lasting (it could reach more or less 10 years) and not a short-term one. Simultaneously, knowledge impact affects negatively the self-employment rates and positively the entry density rates in the economies. Furthermore, performing a sensitivity analysis on knowledge and cultural background, the conclusions confirm that cultural background has a strong interpretive role in both entrepreneurship rates. Moreover, under the new prevailing conditions the creation of knowledge and the impact of knowledge have a negative effect on self-employment, while the effect of knowledge impact is strengthened in the cases where we increase knowledge and it is weakened where we decrease the knowledge variables.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 50541.
Date of creation: Jul 2012
Date of revision:
Cultural background; Entrepreneurship; Entry density; Knowledge; Self-employment;
Other versions of this item:
- Panagiotis E. Petrakis & Pantelis C. Kostis, 2013. "The Effects of Cultural Background and Knowledge Creation on Self-Employment and Entry Density Rates," Review of Economics & Finance, Better Advances Press, Canada, vol. 3, pages 18-32, May.
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
- Z1 - Other Special Topics - - Cultural Economics
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