Determinants of the growth aspiration: a quantitative study of Venezuelan entrepreneurs

Abstract

The article examines the determinants of the growth aspiration of Venezuelan entrepreneurs. We use the GEM database and build an econometric model based on a set of exogenous variables grouped into three large categories: contextual or environmental factors, individual factors and business variables. Given the Venezuelan specific characteristics, we place a particular focus on understanding the differences between entrepreneurs belonging or not to the BoP. The primary findings of this work are the identification of the variables that explain growth aspiration, namely, belonging to the BoP, gender, education, motivation and years of study and some additional variables where individual factors interact with the contextual factor BoP. The second finding is that there are significant differences for the entrepreneurs belonging and not belonging to the BoP, with a threshold where the entrepreneurs of the BoP become averse to continuing to aspire to growth. Practical and policy implications are elaborated with the results. © 2016, Springer Science+Business Media New York

Entrepreneurs’ human capital and growth aspirations: the moderating role of regional entrepreneurial culture

“…These findings explain the increasing interest in how entrepreneurs developed their beliefs about firm growth (Autio and Acs 2010;Autio et al 2013;Estrin et al 2013;Giotopoulos et al 2016;Puente et al 2016). Yet, more study is required to understand how both individual characteristics and external conditions affect their growth aspirations.…”

Determinants of internationalization: Earlystage entrepreneurs from Southeast Europe

“…The level of income as entrepreneurial motives in business was frequently discussed in preceding research and literature Shane et al, 2003;Pinillos & Reyes, 2011). Opportunity entrepreneurs lack the fear of failure (Puente et al, 2017), they easily perceive business opportunities, and possess social connections (Tominc & Rebernik, 2007;Lecuna, Cohen, & Chavez, 2017), and have a certain knowledge and skills (Baum & Locke 2004). Entrepreneurs' motive for increasing income pulls opportunity entrepreneurs to constantly develop business activities by applying new ideas in order to provide better living and business conditions.…”

“…Many studies include research based on the fact that the entrepreneurs want to start their own business i.e. to become self-employed Sheehan & Namara, 2015;Puente et al, 2017;Sanchez & Sahuquill, 2017). Selfemployed entrepreneurs are more likely to take responsibility for the job than necessity entrepreneurs, and therefore can have more advantages in achieving business success (Evan & Dean, 2002).…”

High-Growth Aspirations of Entrepreneurs in Latin America: Do Alliances Matter?

“…Many studies have taken into account the variables that determine entrepreneurial growth aspiration and these variables will be considered in the present work based on GEM data. These variables were divided by Puente, Cervilla, González, and Auletta [28] as well as by Puente, González, and Cervilla [29] into 3 categories: context (desirable career, recognition, motivation, skills, fear of failure, the GCI, and GDP); individual factors (gender, education, and age); and business and institutional factors (innovation and GCI).…”

“…Based on Estrin and Mickiewicz [50], the creation of 10 or more jobs is considered to indicate high growth aspirations. Table 5 presents a description of the variables that are considered to be determinants of entrepreneurial growth aspirations, including the dependent variable [28][29][30]. With the exception of the innovation variable, which was regrouped [51], all were taken directly from the GEM; the intervals of the age variable were redefined and the implementation period was created as a proxy variable to achieve the objective of this study.…”