Entrepreneurial performance and cultural differences

Literature indicates with slight reservation that there might be a connection between entrepreneurship and cultural values. Whether this is indeed the case could influence political debate and entrepreneurship stimulating policies. In this paper I examine the possible connection between entrepreneurship and certain cultural values within several societies. In order to do this I use the Hofstede dimensions which measure cultural values and differences between several countries and the GEM dataset indicating entrepreneurial performance derived. The datasets compared 41 countries and four different years. Results show there is a significant difference in two parts of the dataset, corresponding with the presence of a variable indicating the long term orientation of a country.