Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship

Rolando Rubilar-Torrealba, Karime Chahuán-Jiménez, Hanns de la Fuente-Mella, Mercedes Marzo-Navarro

Research output: Contribution to journalArticlepeer-review

Abstract

The purpose of this research is to develop a theoretical model of the entrepreneurial decision of individuals and to measure the effect of a group of variables on this decision. The effects of variables such as income, age, gender, level of education, and entrepreneurial skills are studied. The results show that innovation and entrepreneurship are linked to the personal characteristics of individuals and the social context in which they develop, thus making it possible to guide social policies for the development of the economy. Logit and probit functions were used to measure the effect of the variables on the entrepreneurship phenomenon. The main findings of this research indicate that the variables with a significant impact on the success of entrepreneurship and innovation are income, age, gender, skill, and the interaction between the opportunity and education variables.

Original languageEnglish
Article number7573
JournalSustainability (Switzerland)
Volume14
Issue number13
DOIs
StatePublished - 1 Jul 2022
Externally publishedYes

Keywords

  • country development
  • data science
  • econometric modeling
  • entrepreneurship
  • innovation

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