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Does the impact of the COVID-19 inhibit global entrepreneurial activities? Structural equation model analysis based on GEM data of 90 countries

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  • Jinsheng Zhu

    (Wuhan University of Technology)

  • Yue Wu

    (Wuhan University of Technology, Hubei Province)

Abstract

Using survey data from 90 nations polled by the Global Entrepreneurship Monitor (GEM) in the past two years from 2020 to 2022, this study evaluates the effect of COVID-19 on global entrepreneurship and its mechanism using a structural equation model (SEM). The results show that under the impact of COVID-19, entrepreneurial activities are still active, becoming the fortunate choice for many people to turn danger into opportunity. Entrepreneurial self-efficacy and motivation play a significant chain-mediating role in the impact of COVID-19 on entrepreneurial activities. The entrepreneurial environment played a positive moderating role in the relationship between COVID-19 and entrepreneurial activities. Further heterogeneity analysis shows that this moderating effect is more significant in low- and middle-income economies and in the stage of epidemic normalization. Finally, this study offers policy suggestions on how to propel the entrepreneurial environment, improve entrepreneurial self-efficacy, stimulate entrepreneurial motivation, and promote entrepreneurial activities.

Suggested Citation

  • Jinsheng Zhu & Yue Wu, 2024. "Does the impact of the COVID-19 inhibit global entrepreneurial activities? Structural equation model analysis based on GEM data of 90 countries," International Entrepreneurship and Management Journal, Springer, vol. 20(2), pages 1511-1529, June.
    • Handle: RePEc:spr:intemj:v:20:y:2024:i:2:d:10.1007_s11365-023-00890-1
    DOI: 10.1007/s11365-023-00890-1
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    References listed on IDEAS

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    1. Kollmann, Tobias & Stöckmann, Christoph & Kensbock, Julia M., 2019. "I can't get no sleep—The differential impact of entrepreneurial stressors on work-home interference and insomnia among experienced versus novice entrepreneurs," Journal of Business Venturing, Elsevier, vol. 34(4), pages 692-708.
    2. Maksim Belitski & Christina Guenther & Alexander S. Kritikos & Roy Thurik, 2022. "Economic effects of the COVID-19 pandemic on entrepreneurship and small businesses," Small Business Economics, Springer, vol. 58(2), pages 593-609, February.
    3. Zahra, Shaker A., 2021. "International entrepreneurship in the post Covid world," Journal of World Business, Elsevier, vol. 56(1).
    4. Bacq, Sophie & Geoghegan, Will & Josefy, Matthew & Stevenson, Regan & Williams, Trenton A., 2020. "The COVID-19 Virtual Idea Blitz: Marshaling social entrepreneurship to rapidly respond to urgent grand challenges," Business Horizons, Elsevier, vol. 63(6), pages 705-723.
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