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The Interplay of Socioeconomic Development, Enterpreneurship, National Culture and innovation Performance

Author

Listed:
  • Merima Činjarević

    () (University of Sarajevo)

  • Ljiljan Veselinović

    () (University of Sarajevo)

Abstract

The main purpose of this study is to investigate the relations between national cultural dimensions, socioeconomic development, entrepreneurship, and national innovation performance. Data set for this study was obtained from secondary sources and it included the following measures: (1) the scores of Hofstede's national culture dimensions; (2) UNDP Human Development Index, (3) Total Early-Stage Entrepreneurial Activity rates provided by The Global Entrepreneurship Monitor (GEM); and (4) Global Innovation Index (GII). These measures were gathered for 77 countries across seven regions of the world. Support was found for the positive effect of socioeconomic development on national innovation performance indicating that a long and healthy life (health), the access to knowledge (education), and a decent standard of living (income) are significant predictors of innovation performance. In terms of cultural dimensions findings of the regression analysis indicate that innovation performance are higher in countries that have lower power distance between citizens and those in power and have lower level of uncertainty avoidance. The link between entrepreneurial activity and national innovation performance was found to be negative. This study emphasizes the importance socioeconomic and cultural impacts on national innovation performance and, thus, provides implications for policy-making regarding innovation policies.

Suggested Citation

  • Merima Činjarević & Ljiljan Veselinović, 2017. "The Interplay of Socioeconomic Development, Enterpreneurship, National Culture and innovation Performance," Proceedings- 11th International Conference on Mangement, Enterprise and Benchmarking (MEB 2017),, Óbuda University, Keleti Faculty of Business and Management.
  • Handle: RePEc:pkk:meb017:42-54
    as

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    File URL: http://kgk.uni-obuda.hu/sites/default/files/04_Cinjarevic_Veselinovic.pdf
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    References listed on IDEAS

    as
    1. Watkins, Andrew & Papaioannou, Theo & Mugwagwa, Julius & Kale, Dinar, 2015. "National innovation systems and the intermediary role of industry associations in building institutional capacities for innovation in developing countries: A critical review of the literature," Research Policy, Elsevier, vol. 44(8), pages 1407-1418.
    2. Bengt-Åke Lundvall, 2007. "National Innovation Systems—Analytical Concept and Development Tool," Industry and Innovation, Taylor & Francis Journals, vol. 14(1), pages 95-119.
    3. Crespo, Nuno Fernandes & Crespo, Cátia Fernandes, 2016. "Global innovation index: Moving beyond the absolute value of ranking with a fuzzy-set analysis," Journal of Business Research, Elsevier, vol. 69(11), pages 5265-5271.
    4. Poh Wong & Yuen Ho & Erkko Autio, 2005. "Entrepreneurship, Innovation and Economic Growth: Evidence from GEM data," Small Business Economics, Springer, vol. 24(3), pages 335-350, January.
    5. Liu, Xielin & White, Steven, 2001. "Comparing innovation systems: a framework and application to China's transitional context," Research Policy, Elsevier, vol. 30(7), pages 1091-1114, August.
    6. Metcalfe, Stan & Ramlogan, Ronnie, 2008. "Innovation systems and the competitive process in developing economies," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(2), pages 433-446, May.
    7. Marxt, Christian & Brunner, Claudia, 2013. "Analyzing and improving the national innovation system of highly developed countries — The case of Switzerland," Technological Forecasting and Social Change, Elsevier, vol. 80(6), pages 1035-1049.
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