Julián Andrés Diaz Tautiva, Erica Salvaj Carrera, Felipe Vásquez-Lavín, Roberto D. Ponce Oliva
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Our analysis models the direct impact of the regulative framework, the normative pillar, and the cultural pillar, alongside the moderating influence of income inequality and economic uncertainty on value creation choices.\nFindings & value added: Our findings show that the regulative framework has a positive marginal effect on for-profit and mixed-value creation, but a negative effect on non-profit value creation. Meanwhile, the normative pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. The cultural pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. Furthermore, income inequality moderates positive the relationship between normative pillar and for-profit and mixed-value creation, while economic uncertainty moderates negative the relationship between normative pillar and for-profit and mixed-value creation. Our research contributes to the literature by providing a nuanced understanding of how institutional pillars can act as drivers or barriers for different entrepreneurial forms, evidence of how uncertainty interacts with institutional forces to shape value creation decisions, and insights into the distinctive attributes of different entrepreneurial forms. Our findings have implications for public policy development.","PeriodicalId":46112,"journal":{"name":"Oeconomia Copernicana","volume":null,"pages":null},"PeriodicalIF":7.6000,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Understanding the role of institutions and economic context on entrepreneurial value creation choice\",\"authors\":\"Julián Andrés Diaz Tautiva, Erica Salvaj Carrera, Felipe Vásquez-Lavín, Roberto D. 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Our analysis models the direct impact of the regulative framework, the normative pillar, and the cultural pillar, alongside the moderating influence of income inequality and economic uncertainty on value creation choices.\\nFindings & value added: Our findings show that the regulative framework has a positive marginal effect on for-profit and mixed-value creation, but a negative effect on non-profit value creation. Meanwhile, the normative pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. The cultural pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. Furthermore, income inequality moderates positive the relationship between normative pillar and for-profit and mixed-value creation, while economic uncertainty moderates negative the relationship between normative pillar and for-profit and mixed-value creation. Our research contributes to the literature by providing a nuanced understanding of how institutional pillars can act as drivers or barriers for different entrepreneurial forms, evidence of how uncertainty interacts with institutional forces to shape value creation decisions, and insights into the distinctive attributes of different entrepreneurial forms. 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Understanding the role of institutions and economic context on entrepreneurial value creation choice
Research background: The observable discrepancies in entrepreneurship activity across countries have motivated both researchers and policymakers to comprehend the sources of these variations. Certain scholars have suggested that the answer to this empirical puzzle lies in the macrolevel processes that influence entrepreneurial endeavours.
Purpose of the article: As the understanding of macrolevel processes that shape entrepreneurial behaviour is limited, this research aims to answer how institutions and the economic context influence entrepreneurial value creation choices (i.e., for-profit, non-profit, and mixed).
Methods: Using a cross-country sample of 7,891 entrepreneurs in 58 countries, we employ a multilevel ordered probit to evaluate a novel conceptual framework. Our analysis models the direct impact of the regulative framework, the normative pillar, and the cultural pillar, alongside the moderating influence of income inequality and economic uncertainty on value creation choices.
Findings & value added: Our findings show that the regulative framework has a positive marginal effect on for-profit and mixed-value creation, but a negative effect on non-profit value creation. Meanwhile, the normative pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. The cultural pillar has a negative marginal effect on for-profit and mixed-value creation, but a positive effect on non-profit value creation. Furthermore, income inequality moderates positive the relationship between normative pillar and for-profit and mixed-value creation, while economic uncertainty moderates negative the relationship between normative pillar and for-profit and mixed-value creation. Our research contributes to the literature by providing a nuanced understanding of how institutional pillars can act as drivers or barriers for different entrepreneurial forms, evidence of how uncertainty interacts with institutional forces to shape value creation decisions, and insights into the distinctive attributes of different entrepreneurial forms. Our findings have implications for public policy development.
期刊介绍:
The Oeconomia Copernicana is an academic quarterly journal aimed at academicians, economic policymakers, and students studying finance, accounting, management, and economics. It publishes academic articles on contemporary issues in economics, finance, banking, accounting, and management from various research perspectives. The journal's mission is to publish advanced theoretical and empirical research that contributes to the development of these disciplines and has practical relevance. The journal encourages the use of various research methods, including falsification of conventional understanding, theory building through inductive or qualitative research, first empirical testing of theories, meta-analysis with theoretical implications, constructive replication, and a combination of qualitative, quantitative, field, laboratory, and meta-analytic approaches. While the journal prioritizes comprehensive manuscripts that include methodological-based theoretical and empirical research with implications for policymaking, it also welcomes submissions focused solely on theory or methodology.