Abstract

http://ssrn.com/abstract=1248407
 
 

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Economic Freedom and the Motivation to Engage in Entrepreneurial Action


Jeffery S. McMullen


Baylor University - Hankamer School of Business; Indiana University - Kelley School of Business - Management & Entrepreneurship

D. Ray Bagby


affiliation not provided to SSRN

Leslie E. Palich


affiliation not provided to SSRN


Entrepreneurship Theory and Practice, Vol. 32, Issue 5, pp. 875-895, September 2008

Abstract:     
Using institutional theory, the Heritage Foundation/Wall Street Journal 2003 Index of Economic Freedom, and the 2002 Global Entrepreneurship Monitor, we regress opportunity-motivated entrepreneurial activity (OME) and necessity-motivated entrepreneurial activity (NME) on 10 factors of economic freedom and gross domestic product (GDP) per capita for 37 nations. We find that both OME and NME are negatively associated with GDP per capita and positively associated with labor freedom, but that various other factors of economic freedom are uniquely related to either OME or NME. Specifically, we find that OME, but not NME, is positively associated with property rights, while NME, but not OME, is positively associated with fiscal freedom and monetary freedom. Thus, governmental restrictions of economic freedom appear to impact entrepreneurial activity differently depending on the particular freedom restricted by government and the entrepreneur's motive for engaging in entrepreneurial action.

Number of Pages in PDF File: 21

Accepted Paper Series





Date posted: August 27, 2008  

Suggested Citation

McMullen, Jeffery S. and Bagby, D. Ray and Palich, Leslie E., Economic Freedom and the Motivation to Engage in Entrepreneurial Action. Entrepreneurship Theory and Practice, Vol. 32, Issue 5, pp. 875-895, September 2008. Available at SSRN: http://ssrn.com/abstract=1248407 or http://dx.doi.org/10.1111/j.1540-6520.2008.00260.x

Contact Information

Jeffery S. McMullen (Contact Author)
Baylor University - Hankamer School of Business ( email )
Waco, TX 76798
United States
Indiana University - Kelley School of Business - Management & Entrepreneurship ( email )
Bloomington, IN 47405
United States

D. Ray Bagby
affiliation not provided to SSRN ( email )
Leslie E. Palich
affiliation not provided to SSRN ( email )
Feedback to SSRN


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