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The Cultural Practices that Influence on the Entrepreneurial Activity: An Empirical Study from the Globe Project Cultural Dimensions

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  • Marysol Castillo-Palacio
  • Rosa M. Batista-Canino
  • Alexander Zuñiga-Collazos

Abstract

There are few empirical studies focused on the culture, as one of the informal factors that influences business development in a region. The main purpose of this study is to analyze the perception of a society about its cultural practices based on cultural dimensions that are related to entrepreneurial activity. Through literature review, five cultural dimensions that would be closely related to entrepreneurship were identified, which has been corroborated in previous empirical studies. For this research, the city of Medellin (located in Colombia, developing country), which has been characterized by its high rate of business activity at the national level, is taken as context for the fieldwork. The findings show that the society under study perceives that its regional culture is characterized by a high level of assertiveness, hence its competitive nature and propensity to take risks, to boost the entrepreneurial activity. JEL Codes - M10; M13; M14

Suggested Citation

  • Marysol Castillo-Palacio & Rosa M. Batista-Canino & Alexander Zuñiga-Collazos, 2020. "The Cultural Practices that Influence on the Entrepreneurial Activity: An Empirical Study from the Globe Project Cultural Dimensions," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 67(4), pages 517-532, December.
    • Handle: RePEc:aic:saebjn:v:67:y:2020:i:4:p:517-532:n:186
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    References listed on IDEAS

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    1. Lowell W. Busenitz & Chung-Ming Lau, 1996. "A Cross-Cultural Cognitive Model of New Venture Creation," Entrepreneurship Theory and Practice, , vol. 20(4), pages 25-40, July.
    2. Roy Thurik & Isabel Grilo, 2005. "Latent and actual entrepreneurship in Europe and the US: some recent developments," Papers on Entrepreneurship, Growth and Public Policy 2005-24, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    3. María-José Pinillos & Luisa Reyes, 2011. "Relationship between individualist–collectivist culture and entrepreneurial activity: evidence from Global Entrepreneurship Monitor data," Small Business Economics, Springer, vol. 37(1), pages 23-37, July.
    4. James C. Hayton & Gerard George & Shaker A. Zahra, 2002. "National Culture and Entrepreneurship : A Review of Behavioral Research," Entrepreneurship Theory and Practice, , vol. 26(4), pages 33-52, July.
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    More about this item

    Keywords

    culture; entrepreneurship; entrepreneurial activity; cultural dimensions; GLOBE project; developing country;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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