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Interactive Effects of Business Environment Assessment and Institutional Programs on Opportunity Entrepreneurship

1
Department of Management, California State University San Bernardino, San Bernardino, CA 92407, USA
2
Graduate School of Global Entrepreneurship, Kookmin University, Seoul 02707, Korea
3
Department of Finance, Appalachian State University, Boone, NC 28608, USA
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(13), 5280; https://doi.org/10.3390/su12135280
Received: 14 June 2020 / Revised: 21 June 2020 / Accepted: 23 June 2020 / Published: 1 July 2020
(This article belongs to the Section Economic and Business Aspects of Sustainability)
The study of the institutional characteristics that create favorable environments for opportunity entrepreneurship is critical. We seek to determine how government programs intended to support entrepreneurship impact how potential entrepreneurs view the business environment. We evaluate the effectiveness of institutional programs and the interactions between them and market optimism. We conduct a binomial regression to evaluate the probability of opportunity entrepreneurship, given the perceived quality of the business and regulatory environments. The results indicate that both have a significant influence, while the regulatory dimensions interact with the effects of the perceived quality of the business environment. We find that individuals who have optimism regarding entrepreneurship still seek assurance of a positive regulatory environment before they act. We find that those who consider it to contain promising entrepreneurship opportunities still seek a positive regulatory climate and supportive government programs before acting. Programs that create favorable financial access can encourage entrepreneurs attracted by financial returns. Similarly, favorable government programs that ensure expansion and growth may reinforce this financial optimism. Our study also adds to the literature on institutional economics, providing evidence that effective institutional factors require productive behaviors from individuals. View Full-Text
Keywords: entrepreneurship; entrepreneurial environment; opportunity entrepreneurship; entrepreneurial environment; opportunity
MDPI and ACS Style

Jang, Y.; Lee, W.J.; Hadley, B. Interactive Effects of Business Environment Assessment and Institutional Programs on Opportunity Entrepreneurship. Sustainability 2020, 12, 5280.

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