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Entrepreneurial aspirations: economic development, inequalities and cultural values

Gustavo Morales-Alonso (Department of Organization, Business Administration and Statistics Engineering, Universidad Politécnica de Madrid, Madrid, Spain)
Yilsy Núñez Guerrero (Universidad Politécnica de Madrid, Madrid, Spain)
Juan Francisco Aguilera (Universidad Politécnica de Madrid, Madrid, Spain)
Carlos Rodríguez-Monroy (Universidad Politécnica de Madrid, Madrid, Spain)

European Journal of Innovation Management

ISSN: 1460-1060

Article publication date: 30 March 2020

Issue publication date: 18 May 2021




This study aims at shedding light on entrepreneurial aspirations on both developed and developing economies, in terms of contextual and individual values. Among the former, economic development and inequalities are sought after, while among the latter national culture is the variable under study.


The data used are extracted from the Global Entrepreneurship Monitor for a panel of countries, where the entrepreneurial aspirations of individuals of each country are measured through the Total early-stage Entrepreneurial Activity (TEA). The influence of cultural values as defined by Hofstede (individualism-collectivism (IDV), masculinity–femininity (MAS) and uncertainty avoidance (UAI)), moderated by the development level of the country and the existing inequalities are analyzed through artificial neural network (ANN) and multilayer perceptron (MLP) techniques.


Results show that in the post-crisis era, entrepreneurial aspirations are negatively linked to individualism in developing countries. In developed countries, however, entrepreneurship is not linked to individualism but to inequalities.


Entrepreneurial aspirations have not been thoroughly studied in the post-crisis era. We prove that entrepreneurial orientations have changed, together with the world, in the last decade. Cultural differences between countries tend to moderate, especially among developed ones, which speak of homogenization of national cultures. In this regard, inequalities are the determining factor. Contrarily, in developing countries, the differences in individualism are noticeable when it comes to analyzing entrepreneurial aspirations.



Morales-Alonso, G., Núñez Guerrero, Y., Aguilera, J.F. and Rodríguez-Monroy, C. (2021), "Entrepreneurial aspirations: economic development, inequalities and cultural values", European Journal of Innovation Management, Vol. 24 No. 2, pp. 553-571.



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