Describe the cognitive and normative dimensions of cultures?
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The purpose of this paper is to analyze the relationship between independence, risk taking, creativity, and entrepreneurial activity at the country level, in the light of institutional economics, concretely using the cultural-cognitive dimension. The main findings demonstrate through a regression model that risk taking and creativity have a positive and significant influence on entrepreneurship. Data were obtained from the World Values Survey, for the period 2005-2008, from a sample size of 42 countries. The study advances the literature by providing new information on the effect of environmental factors on entrepreneurial activity. Also, the research contributes to the definition of educational policies that promote favorable attitudes to risk taking and creativity, thereby increasing the number of potential entrepreneursPALABRAS CHAVE
Empreendimento, independência, assumir riscos, criatividade, teoria econômica institucional.
Literature suggests that autonomy and independence, risk taking, and creativity are relevant to generating novel and useful products or creative ideas (Amabile 1988; Woodman, Sawyer and Griffin 1993); therefore, these characteristics have been associated with entrepreneurial behavior (Lee, Florida and Acs 2004).
While the previous concepts have been studied from a psychological view, we propose in this paper an institutional or environmental perspective, focusing on the dimensions of institutions and specifically the cultural-cognitive dimension, which reflects the cognitive structures and social knowledge shared by the people in a given country or region.
The majority of studies that have analyzed the concepts of independence, risk taking, and creativity are theoretical (Douglas and Shepherd 1999) or based on specific samples of countries, regions, (Ekelund et al. 2005) or groups such as university students (Brenner, Pringle and Greenhaus 1991; Ctaird 1991; Kolvereid 1996). Few articles have considered the impact of these environmental factors on entrepreneurial activity.
In this paper, the effect of independence, risk taking, and creativity on entrepreneurship is examined at a country level, in the light of institutional economics, concretely using the cultural-cognitive dimension. By using a sample of 42 countries obtained from the World Values Survey (WVS) for the period 2005-2008, it is statistically demonstrated through regression analysis that risk taking and creativity have a positive and significant impact on entrepreneurial activity.
The main results show advances in the application of institutional approaches, specifically regarding the importance of the institutional cultural-cognitive dimension in entrepreneurial activity; likewise, the findings contribute to the definition of educational policies that increase the number of potential entrepreneurs through the training of individuals with favorable attitudes to independence, risk taking, and creativity.
After this introduction, the study is structured as follows. First, we present the theoretical framework concerning the relationship between the cultural-cognitive dimension and entrepreneurship. Next, the methodology used is described. Following this, the results are discussed, and finally the conclusions, implications, and future research are presented.
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