How do cultural values influence entrepreneurial behavior of nations? A behavioral reasoning approach.

Despite an abundance of research, still little is known about the underlying cultural mechanisms of entrepreneurial behavior at country level. This paper wants to contribute to the debate by offering a new perspective of analysis based on behavioral reasoning theory (BRT). Specifically, this research analyzes the impact of cultural values on the reasoning behind entrepreneurial intention and activity. The GLOBE project and the Global Entrepreneurship Monitor (GEM) were the sources of our data and variables for a multiple regression analysis over the period of 2007-2017. The results show that, with the exception of Institutional Collectivism, all of GLOBE’s cultural dimensions affect the reasoning justifications behind entrepreneurial intentions and also entrepreneurial activities in various countries. Details of such effects are fully discussed in the concluding sections of the paper.