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The Interplay of Socioeconomic Development, Enterpreneurship, National Culture and innovation Performance

Author

Listed:
  • Merima Činjarević

    (University of Sarajevo)

  • Ljiljan Veselinović

    (University of Sarajevo)

Abstract

The main purpose of this study is to investigate the relations between national cultural dimensions, socioeconomic development, entrepreneurship, and national innovation performance. Data set for this study was obtained from secondary sources and it included the following measures: (1) the scores of Hofstede's national culture dimensions; (2) UNDP Human Development Index, (3) Total Early-Stage Entrepreneurial Activity rates provided by The Global Entrepreneurship Monitor (GEM); and (4) Global Innovation Index (GII). These measures were gathered for 77 countries across seven regions of the world. Support was found for the positive effect of socioeconomic development on national innovation performance indicating that a long and healthy life (health), the access to knowledge (education), and a decent standard of living (income) are significant predictors of innovation performance. In terms of cultural dimensions findings of the regression analysis indicate that innovation performance are higher in countries that have lower power distance between citizens and those in power and have lower level of uncertainty avoidance. The link between entrepreneurial activity and national innovation performance was found to be negative. This study emphasizes the importance socioeconomic and cultural impacts on national innovation performance and, thus, provides implications for policy-making regarding innovation policies.

Suggested Citation

  • Merima Činjarević & Ljiljan Veselinović, 2017. "The Interplay of Socioeconomic Development, Enterpreneurship, National Culture and innovation Performance," Proceedings- 11th International Conference on Mangement, Enterprise and Benchmarking (MEB 2017),, Óbuda University, Keleti Faculty of Business and Management.
    • Handle: RePEc:pkk:meb017:42-54
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    References listed on IDEAS

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