What Influences Innovative Entrepreneurship?

Entrepreneurship is one of the highly discussed topics in academic literature (Baumol, 1996). One of the controversial aspects related to entrepreneurship are the causes and reasons that make people take a risk of starting the own business instead of taking the more risk-averse route of working for a company. One of the possible important factors that influence entrepreneurial entry is national culture (Hayton, George and Zahra, 2002). Although some findings of academic papers do not confirm this relationship (Steensma, Marino, and Weaver 2000), a lot of papers show the effect of national culture and informal institutions on entrepreneurship (Hayton, George, and Zahra, 2002; Thornton, 1999). There are multiple effects of culture on entrepreneurship: for example, Makino and Neupert (2000) claim that cultural differences (individualism level, to be precise), affects the preferred market entry mode, Steeensma, Marino and Weaver (2000) claim that culture affects whether market entrants are more likely to choose cooperative or competitive strategies, Geletkanycz (1997) claims that culture affects whether entrepreneurs and executives would aspire for preserving status quo or for breaking said status quo. To sum it up, the effects of culture on entrepreneurship are strong and diverse.