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Has the First Global Financial Crisis Changed the Entrepreneurial Values in a Digitalized Marketing-based Society? The Case of GEM Latin American Countries

Author

Listed:
  • Saiz-Alvarez, José Manuel
  • Coduras, Alicia
  • Cuervo-Arango, Carlos

Abstract

As the world economy is globalized, crises are rapidly spread due to the massive use of ICTs (Information and Communication Technologies), also affecting the entrepreneurial values involved in business creation processes. In this sense, digital marketing has a vital role to play, as it can serve as a tool based on technology applied to foster nascent entrepreneurship. Using data for GEM Latin American countries, and applying clustering analysis based on the K-means method, the objective of this work is to test if the actual First Global Financial Crisis (FGFC) has altered the entrepreneurial values in Latin American firms. The main result of this work is that the traits of entrepreneurial activity in GEM Latin American countries have progressively shifted from quantity to quality, so digital marketing has increasing importance.

Suggested Citation

  • Saiz-Alvarez, José Manuel & Coduras, Alicia & Cuervo-Arango, Carlos, 2015. "Has the First Global Financial Crisis Changed the Entrepreneurial Values in a Digitalized Marketing-based Society? The Case of GEM Latin American Countries," MPRA Paper 88469, University Library of Munich, Germany, revised Sep 2016.
  • Handle: RePEc:pra:mprapa:88469
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    File URL: https://mpra.ub.uni-muenchen.de/88469/1/MPRA_paper_88469.pdf
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    References listed on IDEAS

    as
    1. Felton, Andrew & Reinhart, Carmen M. (ed.), 2009. "The First Global Financial Crisis of the 21st Century Part II: June–December, 2008," Vox eBooks, Centre for Economic Policy Research, number p199, December.
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    3. Huarng, Kun-Huang & Ribeiro-Soriano, Domingo Enrique, 2014. "Developmental management: Theories, methods, and applications in entrepreneurship, innovation, and sensemaking," Journal of Business Research, Elsevier, vol. 67(5), pages 657-662.
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    7. Simón-Moya, Virginia & Revuelto-Taboada, Lorenzo & Guerrero, Rafael Fernández, 2014. "Institutional and economic drivers of entrepreneurship: An international perspective," Journal of Business Research, Elsevier, vol. 67(5), pages 715-721.
    8. Pekka Stenholm & Zoltán J. Ács & Robert Wuebker, 2015. "Exploring country-level institutional arrangements on the rate and type of entrepreneurial activity," Chapters,in: Global Entrepreneurship, Institutions and Incentives, chapter 20, pages 387-404 Edward Elgar Publishing.
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    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Entrepreneurship; value; crisis; digital marketing; risk;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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