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War, peace, and entrepreneurship: An institutional and socio-cognitive perspective on how violent conflict affects (necessity) entrepreneurship

Author

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  • Hirschmann, Mirko
  • Fisch, Christian
  • Momtaz, Paul P.

Abstract

Violent conflict is a pervasive feature of human history, with profound implications for individuals, communities, and economies. The disruptions violent conflict causes reshape the conditions under which entrepreneurship emerges and evolves. In its aftermath, entrepreneurship may function as a coping mechanism and a vehicle for recovery. However, entrepreneurship is also constrained by altered opportunity structures, disrupted labor markets, heightened uncertainty, and weakened institutions. Drawing on institutional and social cognitive theory, we examine how violent conflict influences the likelihood and type of entrepreneurship. We combine Global Entrepreneurship Monitor data (n = 1,485,332; 90 countries, 2009–2021) with Global Peace Index scores in a multilevel design. Our results show that violent conflict reduces overall entrepreneurial engagement but increases the prevalence of necessity (vs. opportunity) entrepreneurship in a country, with socio-cognitive characteristics as moderators. Our findings are robust to alternative conflict indicators, offering nuanced theoretical contributions and actionable policy guidance for resilience-building in conflict settings.

Suggested Citation

  • Hirschmann, Mirko & Fisch, Christian & Momtaz, Paul P., 2026. "War, peace, and entrepreneurship: An institutional and socio-cognitive perspective on how violent conflict affects (necessity) entrepreneurship," Journal of Business Research, Elsevier, vol. 210(C).
    • Handle: RePEc:eee:jbrese:v:210:y:2026:i:c:s0148296326001086
    DOI: 10.1016/j.jbusres.2026.116074
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