The paper argues that when developing an explanatory model of the early-stage entrepreneurial activity level (measured by total index of early entrepreneurial activity - TEA) one should consider the "path dependency" of the "institutional matrix" of different societies. Otherwise one could...

How and why does the firm size distribution differ across countries? Using two datasets covering more than 30 countries, this paper documents that several features of the firm size distribution are strongly associated with income per capita: the entrepreneurship rate and the fraction of small...

We present a new fact: the higher the trade costs, the larger the fraction of entrepreneurs. We develop a model of international trade with occupational choice that delivers three new predictions as a refinement of this relationship, which are supported by the data: (i) entrepreneurship...

The purpose of this paper is to examine the existence of cross-level moderating effects between national appropriability conditions, individual level predictors and entrepreneurial growth aspirations. We test a multi-level model that connects the determinants of strategic resource allocation...

A corporate governance model built around hierarchical structures, in which authority and empowerment flows through the board of directors to management and eventually staff, and the board is responsible to shareholders (the owners) of a company, worked well in an era of industrial capitalism,...

This article aims to analyze the explanatory power of the constituent components of the Heritage Foundation's Index of Economic Freedom over the Global Entrepreneurship and Development Institute's Global Entrepreneurship Index and its sub-indexes. We analyze a sample of 118 countries with...