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Linking the cultural capital of the entrepreneur and early performance of new ventures: A cross-country comparison

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  • Wdowiak, Malgorzata A.
  • Schwarz, Erich J.
  • Breitenecker, Robert J.
  • Wright, Richard W.

Abstract

We explore the impact of an entrepreneur’s cultural capital on the performance of new ventures in both mature and transition economies. Results show that individualistic values of the founder influence early performance of new ventures, irrespective of the country context; and that in less advanced transition economies, the entrepreneur’s cultural-background profile has a stronger influence on new venture performance than education or industry experience. Our findings support the assumption that entrepreneurial performance in new ventures is culture-driven, and suggest that economic analyses of entrepreneurial actions should encompass cultural values as well.

Suggested Citation

  • Wdowiak, Malgorzata A. & Schwarz, Erich J. & Breitenecker, Robert J. & Wright, Richard W., 2012. "Linking the cultural capital of the entrepreneur and early performance of new ventures: A cross-country comparison," Journal of East European Management Studies, Rainer Hampp Verlag, vol. 17(2), pages 149-183.
  • Handle: RePEc:rai:joeems:doi_10.1688/1862-0019_jeems_2012_02_wdowiak
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    Keywords

    entrepreneurship; new venture performance; cultural capital; transition economy; Slovenia; Poland; Austria;

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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