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Enhancing the Potential of Cultural Entrepreneurship: Connecting Regional Development and Performance of Cultural Firms in Europe

In: Entrepreneurship in Culture and Creative Industries

Author

Listed:
  • Andrej Srakar

    (University of Ljubljana)

  • Marilena Vecco

    (Burgundy School of Business)

Abstract

It is commonly recognized that individuals’ motivations drive the entrepreneurial process, though the qualities and outcomes of such are regulated by the environment. This article focuses on the regional dimension of entrepreneurship in the cultural sector found within Europe. A large sample of cultural firms from 13 European countries were selected from the Amadeus database in order to study the relationship of cultural firms’ performances and regional development using linear mixed models. Relevant results of this article include the finding that regional entrepreneurial development is related to the performance of cultural firms with respect to their primary relationships, capital financing, and firm debt. Moreover, there is evidence that variability of results is associated with the country, as opposed to the regional, level. Lastly, differences depend on the cultural sector under concern and on the different dimensions of regional entrepreneurial development. We conclude with some policy recommendations and reflections.

Suggested Citation

  • Andrej Srakar & Marilena Vecco, 2018. "Enhancing the Potential of Cultural Entrepreneurship: Connecting Regional Development and Performance of Cultural Firms in Europe," FGF Studies in Small Business and Entrepreneurship, in: Elisa Innerhofer & Harald Pechlaner & Elena Borin (ed.), Entrepreneurship in Culture and Creative Industries, pages 213-227, Springer.
    • Handle: RePEc:spr:fgfchp:978-3-319-65506-2_12
    DOI: 10.1007/978-3-319-65506-2_12
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