Speed of pro-market reforms and entrepreneurial innovation

Fuentelsaz, Lucio (Universidad de Zaragoza) ; González, Consuelo (Universidad de Zaragoza) ; González, Minerva (Universidad de Zaragoza)

Resumen: This paper examines how pro-market reforms affect entrepreneurial innovation through the lens of the dynamic institution-based view of the firm. We propose that the speed at which changes occur has a positive influence on entrepreneurial innovation. Additionally, we hypothesize that, in highly uncertain environments, entrepreneurs with higher levels of entrepreneurial self-efficacy and those who have recently entered the market are better equipped to respond in terms of innovation. To test our hypotheses, we conduct a multilevel, cross-country analysis using data from the Global Entrepreneurship Monitor for the period 2009–2018, focusing on individual-level measures of entrepreneurial behavior. Our findings largely support our hypotheses, indicating that a high speed of pro-market reforms has a positive effect on entrepreneurial innovation. Furthermore, this relationship is partially mediated by entrepreneurial self-efficacy and is more pronounced among new entrepreneurs compared to established ones.

Idioma: Inglés

DOI: 10.1007/s11187-024-00980-6

Año: 2024

Publicado en: Small Business Economics
ISSN: 0921-898X

Factor impacto JCR: 4.8 (2024)

Categ. JCR: ECONOMICS rank: 52 / 617 = 0.084 (2024) - Q1 - T1
Categ. JCR: MANAGEMENT rank: 103 / 420 = 0.245 (2024) - Q1 - T1
Categ. JCR: BUSINESS rank: 83 / 316 = 0.263 (2024) - Q2 - T1

Factor impacto SCIMAGO: 3.025 - Business, Management and Accounting (miscellaneous) (Q1) - Economics and Econometrics (Q1)

Tipo y forma: Article (Published version)

Área (Departamento): Área Organización de Empresas (Dpto. Direcc.Organiza.Empresas)