Creativity and security as a cultural recipe for entrepreneurship. Issue 1 (24th February 2022)

• Record Type: Journal Article
• Authors: Mickiewicz, Tomasz; Kaasa, Anneli
• Editors: Andriani, Luca; Luca Bruno, Randolph
• Is Part Of: Journal of institutional economics. Volume 18:Issue 1(2022)
• Page Start: 119
• Page End: 137
• Publication Date: 2022-02-24
• Subjects: Entrepreneurship -- Values -- Culture -- Creativity -- Security -- Global Entrepreneurship Monitor; Institutional economics -- Periodicals; 330.1552
• DOI: 10.1017/S1744137420000533
• Languages: English
• ISSNs: 1744-1374

Abstract

Abstract: We posit that societal cultural values of creativity and security are associated with the likelihood that a person will engage in a business start-up. Creativity supports the opportunity identification and security the opportunity exploitation aspects of entrepreneurship. In contrast, both emphasis on performance and acceptance of risk-taking may not play the role that is typically assumed. To verify our hypotheses we construct a multilevel dataset, combining Global Entrepreneurship Monitor individual-level data with country-level data from the World Values Survey. We use a multilevel logit model to address the hierarchical structure of our data. We found that odds of start-up engagement are higher if people in a society value security, yet also appreciate thinking up new ideas and being creative. Our results support McCloskey's distinction between aristocratic and bourgeois values, and John and Storr's proposition that different cultural traits support different aspects of entrepreneurship.