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Institutional Environment and Entrepreneurial Cognitions: A Comparative Business Systems Perspective

Dominic S. K. Lim¹; Eric A. Morse²; Ronald K. Mitchell³; Kristie K. Seawright⁴

¹ Brock University, 500 Glenridge Avenue, St Catharines, ON L2S 3A1, Canada. · ² Entrepreneurship and Family–Owned Business, Richard Ivey School of Business, The University of Western Ontario, 1151 Richmond Street North, London, ON N6A 3K7, Canada. · ³ Entrepreneurship and Jean Austin Bagley Regents Chair in Management, Rawls College of Business, Texas Tech University, Lubbock, TX 79409–2101, USA. · ⁴ Romney Institute of Public Management, Brigham Young University, Provo, UT 84602–3113, USA.

In this study, we investigate the relationship between institutional elements of the social environment and entrepreneurial cognitions, which lead to the individual's venture creation decision. Employing a sample of 757 entrepreneurs and non–entrepreneurs from eight countries we examine the extent to which institutions influence venture creation decisions, where entrepreneurial expert scripts act as a mediator. Results show that various institutional elements, such as legal and financial systems, affect venture arrangements and willingness scripts. Venture arrangements scripts, in turn, have the most significant impact on an individual's venture creation decision.

DOI

10.1111/j.1540-6520.2010.00384.x

Volume

34 (3)

Pages

491-516

Language

en

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