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Social and human capital as determining factors of entrepreneurship in the Spanish Regions

Author

Listed:
  • Neira, Isabel

    (Universidad de Santiago de Compostela)

  • Portela, Marta

    (Universidad de Santiago de Compostela)

  • Cancelo, Maite Cancelo

    (Universidad de Santiago de Compostela)

  • Calvo, Nuria

    (Universidad de A Coruña)

Abstract

Entrepreneurship, innovation and creativity are considered key factors of the economic growth because they usually bring on behaviors aligned with the market development, productivity and social cohesion. This study aims to analyze the factors that influence the entrepreneurial role, and provide a better understanding of this behavior from a dynamic perspective, in order to support policies for encouraging entrepreneurship. To do this we used the data presented in the report of the Global Entrepreneurship Monitor (GEM), in its 2011 edition, which is based on an empirical analysis of a sample of 27,000 Spanish citizens. The results confirm that the perception of market opportunities, and having the skills and knowledge required to create new companies are explanatory factors of the entrepreneurial activity. However, it is also possible to assert that the increase of the entrepreneurial activity rate motivated by the need of self-employment of the entrepreneur influences the increase of fear of failure, and this could generate a dynamic harmful to the business creation in the medium term. Our model aims to support the decisions of public institutions about the incentive measures for entrepreneurs. This work contributes to the study of entrepreneurship and business creation from a multidisciplinary perspective, incorporating psychological, sociological and economic approaches from a dynamic perspective. It also allows an in-depth analysis of factors undetected with other methodologies. We examined the determining factors of entrepreneurship by estimating a logit model based on entrepreneur’s social capital (networking) and the geographical location (region) of the business activity. This analysis has shown significant differences of these factors according to the stage of the entrepreneurial process. These results have let discuss the implications for the entrepreneurial dynamic, in order to support new policies in favor of entrepreneurship.

Suggested Citation

  • Neira, Isabel & Portela, Marta & Cancelo, Maite Cancelo & Calvo, Nuria, 2013. "Social and human capital as determining factors of entrepreneurship in the Spanish Regions," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 26, pages 115-139.
    • Handle: RePEc:ris:invreg:0233
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    References listed on IDEAS

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    Cited by:

    1. Rajennd A/L Muniady & Abdullah Al Mamun & Mohd. Rosli Mohamad & P. Yukthamarani Permarupan & Noor Raihani Binti Zainol, 2015. "The Effect of Cognitive and Relational Social Capital on Structural Social Capital and Micro-Enterprise Performance," SAGE Open, , vol. 5(4), pages 21582440156, October.
    2. Isabel Neira & Nuria Calvo & Loreto Fernández & Marta Portela, 2017. "Entrepreneur: do social capital and culture matter?," International Entrepreneurship and Management Journal, Springer, vol. 13(2), pages 665-683, June.
    3. Martínez Sidón, Gilberto & Saavedra Leyva, Rafael Eduardo & Morones Carrillo, Ana Lourdes, 2020. "Capital Social como factor de emprendimiento en los países de la OCDE: implementación de un modelo con datos de panel || Social Capital as an Entrepreneurship Factor in OECD Countries: Implementation ," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 30(1), pages 312-326, December.
    4. Noemí Pérez-Macías & José-Luis Fernández-Fernández & Antonio Rúa-Vieites, 2021. "Entrepreneurial intention among online and face-to-face university students: The influence of structural and cognitive social capital dimensions," Journal of International Entrepreneurship, Springer, vol. 19(3), pages 434-467, September.

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    More about this item

    Keywords

    determining factors of entrepreneurship; regional development; social capital; human capital;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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