Original scientific paper
https://doi.org/10.1080/1331677X.2020.1754268
Macroeconomic and institutional drivers of early failure among self-employed entrepreneurs: an analysis of the euro zone
Francisco del Olmo-García
Fernando Crecente
María Sarabia
Abstract
The development of entrepreneurial activity is essential to achieve
sustainable economic growth and development in the euro area.
However, the European institutions have not given the same
importance to the failure of entrepreneurial activity and its
causes. With this in mind, and considering the countries of the
euro area, on the basis of Eurostat’s business demography data
for the years 2008 to 2016, an analysis of panel data was conducted
relating the early failure of self-employed entrepreneurs to
their macroeconomic and institutional environment. The results
thus show a negative relationship with respect to the quality of
formal institutions, entrepreneurial culture and social norms, the
efficiency of goods markets and entrepreneurial freedom. On
the other hand, a positive relationship is shown with respect to
the high status assigned to successful entrepreneurs.
Keywords
Early failure; self-employed entrepreneurs; macroeconomic factors; institutions; euro zone
Hrčak ID:
254508
URI
Publication date:
9.2.2021.
Visits: 515 *