A ailable in: h p://www. edalyc.o g/a iculo.oa?id=86626373004
Red de Re is as Cien í icas de Amé ica La ina, el Ca ibe, España y Po ugal
Sis ema de In o mación Cien í ica
Liñán, F ancisco; Nabi, Ghulam; K uege , No is
B i ish and Spanish En ep eneu ial In en ions: A Compa a i e S udy
Re is a de Economía Mundial, núm. 33, 2013, pp. 73-103
Sociedad de Economía Mundial
Huel a, España
How o ci e Comple e issue Mo e in o ma ion abou his a icle Jou nal's homepage
Re is a de Economía Mundial,
ISSN (P in ed Ve sion): 1576-0162
[email p o ec ed]
Sociedad de Economía Mundial
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www. edalyc.o g
Non-P o i Academic P ojec , de eloped unde he Open Acces Ini ia i e
e i S a d e ec o n o m í a mu n d i a l 33, 2013, 73-103
ISSN: 1576-0162
B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
la i n E n c i ó n E m p E n d E d o a E n E i n o un i d o y Es p a ñ a :
u n E s u d i o c o m p a a i o
F ancisco Liñán
Uni e sidad de Se illa
linan@us .es
Ghulam Nabi
Business School, Manches e Me opoli an Uni e si y
d _g_nabi@ho mail .com
No is K uege
En ep eneu ship No hwes (Boise, ID, USA) and Max Planck Ins i u e o
Economics (Jena, Ge many)
no is .k uege @gmail .com
Recibido: oc ub e de 2012; acep ado: ene o de 2013
aB S a c
Ex ending om Ajzen’s (1991) heo y o planned beha iou , his pape de-
elops a mo e in eg a ed en ep eneu ial in en ion model . This inco po a es
he ole o cul u e, along wi h mo i a ions, skills and knowledge o he en e-
p eneu ial en i onmen . The c oss-cul u al applicabili y o he model is es ed
ac oss wo di e en coun ies, G ea B i ain and Spain, on a o al sample o
1005 . Pa ial Leas Squa es echnique is used o y and o e come limi a ions
o p e ious esea ch . The model b oadly holds o bo h coun ies . Implica ions
o public decision make s and en ep eneu ship educa ion a e discussed . In
pa icula , enhancing he le el o knowledge and awa eness abou en ep e-
neu ship would inc ease sel -e icacy pe cep ions and, hence, en ep eneu ial
in en ions .
Keywo ds: En ep eneu ial In en ion ; C oss-cul u al Analysis ; En ep e-
neu ial Knowledge ; En ep eneu ial Skills ; En ep eneu ial Valua ion .
e S u m e n
Es e abajo, pa iendo del en oque de Acción Plani icada (Ajzen), desa-
olla un modelo más in eg ado de in ención emp endedo a, inco po ando el
papel de la cul u a, las mo i aciones, habilidades y conocimien o emp esa ial .
La aplicabilidad anscul u al del modelo se p ueba analizando dos países di-
e en es (G an B e aña y España), en una mues a de 1005 indi iduos . Se u i-
lizan Mínimos Cuad ados Pa ciales pa a supe a las limi aciones de an e io es
in es igaciones . El modelo en gene al es álido pa a los dos países, de i án-
dose implicaciones pa a la oma de decisiones y la educación emp endedo-
a . En pa icula , mejo a el conocimien o y la oma de conciencia sob e el
emp endimien o aumen a ía la pe cepción de au oe icacia y, po lo an o, las
in enciones emp endedo as .
Palab as cla e: In ención emp endedo a; Análisis anscul u al; Conoci-
mien o emp endedo ; Habilidades emp endedo as; Valo ación emp endedo-
a .
JEL Classi ica ion: A13, L26, R11 .
e i S a d e ec o n o m í a mu n d i a l 33, 2013, 73-103
1 . in o d u c i o n
A signi ican body o li e a u e on en ep eneu ship highligh s he
impo ance o s udying cogni i e ac o s, such as en ep eneu ial mo i a ion
(e .g ., a i udes, pe cep ions) and in en ion, in o de o p o ide insigh s in o he
complex p ocess o new en u e c ea ion (Au io, Keeley, Klo s en, Pa ke and
Hay, 2001; Fo bes, 1999; K uege , Reilly and Ca s ud, 2000; Pe e man and
Kennedy, 2003; Tkache and Kol e eid, 1999) . Such a cogni i e pe spec i e
is aluable because i ep esen s an a emp o unde s and he o ma ion
o new en u es and he unde lying s uc u es and p ocesses (c . Hen y, Hill
and Lei ch, 2003) . While he e ha e been de elopmen s in his ield, he e
is a lack o esea ch ac oss di e en cul u es (Fo bes, 1999; Liñán and Chen,
2009) . Indeed, i is ecognized ha “cul u al alues […] will posi i ely in luence
he p esence o en ep eneu ial cogni ion on bo h he indi idual and socie al
le els” (Fo bes, 1999: 421) . McG a h and MacMillan’s (1992) seminal s udy
sugges ed ha en ep eneu s in di e en se ings we e mo e alike han was
ob ious . Impo an ly, despi e hese ea lie p o oca i e s udies, he e a e only
limi ed heo e ically-d i en empi ical es s o cul u al ac o s in en ep eneu ial
in en ion models .
I is clea ha mo e c oss-cul u al esea ch is needed o shed u he ligh
on he in luence o di e en cul u es and alues on en ep eneu ial in en ion .
One o he main aims o his pape is o add ess his gap by using samples
om wo di e en coun ies in Eu ope (G ea B i ain –G .B .– and Spain) ha
ha e a ac ed li le compa a i e esea ch . This will be achie ed by using an
ex ended heo y o planned beha iou (TPB) ha includes cul u al and o he
psychosocial a iables (discussed below) in he model . Tha is, in addi ion o
he co e TPB mo i a ional elemen s o : pe sonal a i ude, subjec i e no m and
pe cei ed beha iou al con ol .
The wo chosen Eu opean Union coun ies, G .B . and Spain, do na u ally
ha e a dis inc cul u e and he i age, bu hey a e no comple ely di e en
in se e al ega ds . Bo h coun ies a e ‘inno a ion d i en’, e lec ing ma u e
economies, shi ing owa ds he se ice sec o and ca e ing o an inc easingly
a luen popula ion, combined wi h a ocus on knowledge gene a ion and
de elopmen o inno a i e, oppo uni y seeking en ep eneu ial ac i i y and
a he ime o he s udy had easonably compa able economic pe o mance
(Bosma, Acs, Au io, Codu as and Le ie, 2008) . Bo h he UK (o which GB o ms
76 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
he majo i y) and Spain ha e signi ican popula ions (abou 60 .2 million and
43 .4 million espec i ely based on Wo ld Bank 2005 Da a) . They a e classi ied
as high income coun ies wi h o example, o al GDP o he UK and Spain
a $2244 .1 billion and $1129 .7 billion espec i ely (Wo ld Bank 2005 da a),
and GDP pe capi a (PPP-adjus ed) o UK and Spain o he same yea s a
$31580 and $27270 espec i ely (Wo ld Bank 2005 da a) . Bo h coun ies
ha e simila le els o nascen en ep eneu s (new businesses o less han 3
mon hs) o a ound 3 .1 and 3 .3% ( o UK and Spain espec i ely), ea ly-s age
en ep eneu ial ac i i y (new businesses o 3-42 mon hs) a a ound 5 .9 o 7%
(Bosma e al ., 2008) . His o ically bo h coun ies ha e also had simila ea ly-
s age en ep eneu ial ac i i y o abou 5-8% (Reynolds, Byg a e, Au io and
Hay, 2002) . Thus, despi e ha ing dis inc di e ences in cul u al he i age, he
wo coun ies a e easonably compa able o he pu poses o his esea ch .
A second aim o he pape is ela ed o ying o d aw oge he some o
he s ands in TPB-based in en ion models . The TPB is inc easingly been seen
as a use ul heo e ical amewo k in new en u e c ea ion because i helps o
explain he complex and in ica e cogni i e p ocesses leading o i m c ea ion
(Au io e al ., 2001; K uege e al ., 2000; Liñán, 2008) . Au ho s sugges he
TPB-a i ude app oach p o ides g ea e p edic i e capaci y in explaining
en ep eneu ial in en ion and beha iou o e some p e ious app oaches,
such as, he pe sonali y ai o demog aphic app oaches (Au io e al ., 2001;
Mo iano, Go gie ski and Lukes, 2008) . Fu he , esea che s sugges ha
in en ion models a e mo e ui ul because unde lying an eceden s such
as a i udes owa ds en ep eneu ship can be modi ied wi h educa ional
in e en ions (Liñán, Rod íguez-Coha d and Rueda, 2011a; Pe e man and
Kennedy, 2003) .
No wi hs anding such heo e ical ad an ages, TPB-based wo k can be
iden i ied as ha ing 4 di e en s ands . Tha is, (1) he e ec o co e TPB
elemen s on en ep eneu ial in en ion (e .g ., Kol e eid, 1996; K uege e al .,
2000); (2) he e ec o human and social capi al (e .g ., en ep eneu ial skills,
social ela ionships) on he TPB elemen s and EI (e .g ., Chen, G eene and C ick,
1998; Liñán and San os, 2007); (3) he e ec o knowledge and awa eness o
he en ep eneu ial en i onmen on TPB elemen s and EI (e .g ., Liñán, 2008;
Lu hje and F anke, 2003; Sche e , B odzinsky and Wiebe, 1991); and/o (4)
c oss-cul u al esea ch (e .g ., Au io e al ., 2001; Mo iano, Go gie ski, Laguna,
S ephan and Za a shani, 2012) . Taken collec i ely, his body o wo k has
p o ided use ul insigh s in o, and sound e idence o , he TPB model . Howe e ,
i has a guably been agmen ed, wi h he g ea e sha e o he wo k unde he
i s s and, and he leas unde he hi d and ou h s ands . O he issues wi h
he in en ions model ha e also su aced (e .g ., he need o conside he dynamics
and looking a deepe unde pinnings) wi h calls o mo e sophis ica ed models
(K uege , 2009; K uege and Day, 2010) . The e is a lack o wo k ha has
a emp ed o combine hese s ands in o a mo e in eg a ed model .
A inal aim o his pape is o add ess some limi a ions o p e ious esea ch .
Mos pas esea ch in TPB [no jus o en ep eneu ship] has used linea

77
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B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
eg ession models (e .g ., Au io e al ., 2001; Tkache and Kol e eid, 1999),
despi e he isk o missing indi ec and complex e ec s . Hence, in his esea ch,
s uc u al equa ion modelling is used o allow o mo e obus , sophis ica ed
and ecu si e es ing in o de o be e unde s and hese e ec s .
This pape has implica ions o educa o s, policy make s and esea che s
by d awing oge he p e ious published wo k . I will also ac as a compa ison
in wo di e en cul u es, allowing o a obus es o a model ha may help
o explain en ep eneu ial in en ion in di e en con ex s . This could be use ul
o policy make s o unde s and no only he pa e n o ela ionships among
in en ion an eceden s, bu also i s implica ions o in e en ions and de eloping
en ep eneu ial in en ion .
The pape is s uc u ed a ound he ollowing ou main sec ions: a li e a u e
e iew p esen ing a concep ual amewo k and e lec ing on p e ious esea ch
o unde pin he model and hypo heses; a me hodology sec ion o explain
he sample and measu es used; a esul s sec ion epo ing on he s uc u al
equa ion models om he c oss-coun y analysis; and a inal sec ion o discuss
and conclude he pape .
2 . h e o y a n d h y p o h e S e S
En ep eneu ial in en ion can be de ined as a conscious awa eness and
con ic ion by an indi idual ha hey in end o se up a new business en u e
and plan o do so in he u u e (see Bi d, 1988; Thompson, 2009) . The p ocess
o s a ing a new i m can hus be ega ded as olun a y wi h conscious
in en ionali y . Impo an ly, in en ion has been conside ed as he single mos
powe ul p edic o o en ep eneu ial beha iou s (Au io e al ., 2001; K uege
e al ., 2000), and also an impo an dependen a iable in i s own igh
(Thompson, 2009) .
Applied o en ep eneu ial in en ion, he TPB posi s h ee mo i a ional
an eceden s ha ac as p ecu so s o new en u e c ea ion . These can be
de ined in he ollowing way . Pe sonal a i ude (PA) owa ds becoming an
en ep eneu e e s o he ex en o posi i e alua ion abou he s a -up o
a new en u e . Subjec i e no m (SN) e lec s he p essu e and app o al om
signi ican o he s o becoming an en ep eneu , hus aking in o accoun he
indi idual’s social con ex . Pe cei ed beha iou al con ol (PBC) measu es
he pe cei ed ease o di icul y o becoming an en ep eneu . Resea ch has
gene ally p o ided suppo o he TPB in he con ex o en ep eneu ship (e .g .,
K uege e al ., 2000), bu he applica ion and empi ical es o he TPB model
o di e en cul u es has been su p isingly limi ed .
Because o c oss-coun y di e ences in en ep eneu ial ac i i y, i is o
heo e ical and p ac ical impo ance o examine how cul u e ela es o le els o
en ep eneu ial ac i i y (Hay on, Geo ge and Zah a, 2002) . This would include
en ep eneu ial in en ion as his o ms pa o he en ep eneu ial p ocess .
Cul u e can be de ined as a se o sha ed belie s, alues and expec a ions
78 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
(Hay on e al ., 2002) . Simila ly, Ho s ede (2003: 9) de ines i as “ he collec i e
p og amming o he mind ha dis inguishes membe s o one g oup o ca ego y
o people om ano he ” . Impo an ly, cul u al alues p o ide an indica o as
o he ex en o which a socie y iews en ep eneu ial ac i i y as a ac i e
o no . Cul u es ha alue and ein o ce such en ep eneu ial ac i i y may
acili a e mo e isk- aking and adical inno a ion, whe eas hose ha alue
and ein o ce con o mi y and con ol o e he u u e a e less likely o display
en ep eneu ial ac i i y (Hay on e al ., 2002) . Fo example, some coun ies e .g .,
USA, encou age a can-do isk- aking a i ude whe eas o he s do no (Hen y e
al ., 2003; S ephan, 2008) .
Cul u e should in luence en ep eneu ship in wo main ways: Bo om-up
e sus op-down . The i s way ( he ‘agg ega e ai ’ explana ion) sugges s
ha i a coun y has mo e indi iduals wi h en ep eneu ial alues and ai s,
mo e indi iduals will become en ep eneu s, a iew ha sugges s alues a e
agg ega ed . The second way ( he ‘socie al legi ima ion’ explana ion) sugges s
ha a highe le el o mo al app o al o legi imiza ion o en ep eneu ship
wi hin a cul u e is e lec ed in ha socie y’s p ac ices . Fo example, paying
mo e a en ion o en ep eneu ship in educa ion, conside ing en ep eneu ship
desi able, and allowing a mo e a ou able and suppo i e s a -up en i onmen ,
a iew ha highligh s cul u e is a unc ion o socie al p ac ices (S ephan,
2008) .
I we a e o unde s and he p ocesses o in en ions o ma ion, i has
become clea ha we need o look mo e closely a he deepe belie s ha
se e as ancho ing assump ions o en ep eneu ial decision making . Cul u al
and social no ms can be a key sou ce o hose deep ancho ing belie s (K uege ,
2007) .
The e is a pauci y o esea ch looking a en ep eneu ial mo i a ion and
in en ion ac oss di e en cul u es . This is impo an as he ela i e e ec s
o TPB elemen s on en ep eneu ial in en ion could be di e en in di e en
coun ies . Recognizing his, Liñán and Chen (2009) called o mo e c oss-
cul u al esea ch in his ield wi h wide samples om di e en coun ies o be
es ed . The e is, howe e , limi ed a ailable esea ch on he applica ion o he
TPB o di e en cul u es . Au io e al . (2001) examined he TPB co e cons uc s
amongs uni e si y s uden s om he USA, Finland and Sweden, bu hey did
no look a he in luence o cul u al a iables di ec ly . In o he wo ds, hey
did no look a social alues, such as close en i onmen alua ions (e .g ., o
signi ican o he s in he indi idual’s close en i onmen ), based on he social
capi al li e a u e, no social alua ions (e .g ., wide cul u al alues o socie y)
o en ep eneu ship in he chosen coun ies . This is impo an because such
social and cul u al alues can in luence he TPB mo i a ional elemen s (Ajzen,
2001) and his is discussed la e wi h e e ence o ou wo chosen coun ies .
In a mo e in eg a ed a emp , as men ioned ea lie , Liñán (2008) de eloped
and es ed an en ep eneu ial in en ion model on a Spanish sample . This
inco po a ed he a o emen ioned cul u al a iables o social alua ion (SV)
79
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B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
and close en i onmen alua ion (CV), along wi h en ep eneu ial skill
pe cep ions as hey could make indi iduals eel mo e capable o s a ing a
new en u e . None heless, esea che s ha e also no ed he impo ance o wo
o he conside a ions (Ajzen, 1991; Au io e al ., 2001; Bosma e al ., 2008;
Liñán, 2008; Liñán, Ba is elli and Mo iano, 2008; Lu hje and F anke, 2003;
Sche e e al ., 1991) . The i s is he ele ance o a g ea e knowledge o he
en ep eneu ial en i onmen (e .g ., knowing abou sou ces o en ep eneu ial
knowledge and suppo assis ance) . The second is he impo ance o a c oss-
cul u al pe spec i e o be e unde s and he e ec o di e en cul u al
en i onmen s on en ep eneu ial mo i a ion and in en ion . In e es ingly, he
mos ecen analysis o he Global En ep eneu ship Moni o da a ound wo
key p edic o s o en ep eneu ial ac i i y: pe sonal p epa edness o en u e
and social/cul u al no ms, he wo elemen s jus desc ibed (Reynolds, 2011) .
The o e all model in his esea ch, hus, d aws on Liñán (2008) bu wi h hese
impo an ex ensions ha a e suppo ed by GEM da a .
Based on ou model, howe e , some hypo heses a e gene ic and should
hold in bo h coun ies . Mo e speci ically, he model sugges s ha PA and PBC
should in luence in en ion, ega dless o coun y . In c oss-cul u al esea ch wi h
o he coun ies, his has gene ally been shown o be he case (e .g ., Au io e al .,
2001; Liñán and Chen, 2009) . The case o SN is mo e in iguing and ypically
he weakes p edic o o in en ion . S udies ha e ound a weak o no di ec
e ec be ween SN and in en ion (Au io e al ., 2001; K uege e al ., 2000) .
Ra he , ecen a gumen and e idence sugges s ha he e ec o SN may be
indi ec ia PA and PBC, and his has been epo ed in Spain and Taiwan (Liñán,
2008; Liñán and Chen, 2009) . The e o e, ega dless o he coun y, he i s
se o hypo heses is:
H1a . Pe sonal a i ude posi i ely in luences in en ion
H1b . Pe cei ed beha iou al con ol posi i ely in luences in en ion .
H1c . Subjec i e no m will ha e a posi i e impac on pe sonal a i ude .
H1d . Subjec i e no m will ha e a posi i e impac on pe cei ed beha iou al
con ol .
Gi en simila le els o (pe cei ed) knowledge and skills in B i ain and
Spain o s a a new en u e (Bosma e al ., 2008, sugges 45% and 43%
espec i ely), he coun ies a e no comple ely dissimila in e ms o pe cei ed
human capi al . Thus, a numbe o en a i e c oss-cul u al hypo heses can be
de i ed om he a ailable li e a u e .
Mos esea ch on en ep eneu ship and cul u e has employed Ho s ede’s
i e cul u al dimensions (see Ho s ede, 2003) . These a e: indi idualism s .
collec i ism (ex en o which people in a socie y p e e o ac as indi iduals
a he han in g oups), unce ain y a oidance ( he ex en o which people
p e e s uc u ed o e uns uc u ed si ua ions), powe dis ance ( he ex en
o which he exis ence o inequali y among people in a coun y is accep ed),
masculini y- eminini y ( he ex en o which ough alues like asse i eness and
compe i ion p e ail o e ende ones like quali y o li e and ca ing) and long-
80 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
sho e m o ien a ion ( he ex en o which alues a e ocused owa ds he
u u e -like pe sis ence- o he pas and p esen ) . These alues a e impo an
o in luencing en ep eneu ial cogni ions . Fo example, a long- e m o ien ed
cul u e is likely o gene a e people wi h posi i e en ep eneu ial alues, belie s,
a i udes and ac ions (Buseni z and Lau, 1996) .
In his esea ch, wo Eu opean bu cul u ally di e en coun ies a e used .
Using Ho s ede’s dimensions, he e a e some no ewo hy simila i ies and
di e ences . Long-sho e m o ien a ion is ai ly simila (25 o B i ain s .
19 o Spain) . This sugges s simila le els o long e m ocus owa ds u u e
ewa ds like pe se e ance and h i . On he o he hand, he e a e subs an ial
di e ences o all o he dimensions . Rega ding indi idualism, B i ain sco es
much highe han Spain (89 and 51 espec i ely), and appea s much mo e
indi idualis ic-ac ing, implying a mo e en ep eneu - iendly cul u e . In ela ion
o unce ain y a oidance, B i ain sco es conside ably lowe han Spain (35 and
86 espec i ely) . This sugges s ha B i ish cul u e is ela i ely mo e ole an
o unce ain y and eel less h ea ened by unce ain si ua ions . Thus, in his
dimension, Spanish cul u e is ela i ely mo e opposed o en ep eneu ship . Wi h
ega ds o powe dis ance, again B i ain sco es conside ably lowe han Spain
(35 and 57 espec i ely), sugges ing ha , in Spain, inequali y in in e pe sonal
ela ionships ha unde lies unc ioning in ha socie y is pe cei ed as mo e
na u al . In his dimension, he e o e, Spanish cul u e is again ela i ely less
conduci e o en ep eneu ship . Finally, B i ain sco es conside ably highe in
masculini y (66 and 42 espec i ely) . This sugges s ha B i ish cul u e (as pa
o Anglo coun ies along wi h US) is ela i ely mo e masculine-o ien a ed wi h
a highe endency owa ds asse i eness, ea nings, ad ancemen and ‘li e o
wo k’ cul u e compa ed o Spain (as pa o La in coun ies, Ho s ede, 2003) .
This would imply ha B i ish cul u e is pe haps mo e a ou able owa ds
en ep eneu ship .
The economic si ua ion has gene ally been a ou able in bo h coun ies
since he mid-nine ies up un il ecen ly . GB has, howe e , expe ienced be e
economic g ow h and lowe le els o unemploymen . Al hough Spain’s
unemploymen has been highe , i has also been dec easing since he mid-
nine ies . Thus, he impac o he economic si ua ion can be conside ed o be
b oadly compa able and neu al o he pu poses o his s udy .
As a as he au ho s a e awa e, he e is no TPB-based esea ch con as ing
he e ec s o cul u al di e ences on en ep eneu ial mo i a ion and in en ion
o he wo coun ies o in e es . Howe e , he a ailable li e a u e does allow o
some en a i e hypo heses o be de eloped ega ding pe sonal a ac ion and
pe cei ed beha iou al con ol . Bosma e al . (2008) ound ha pe sonal a i ude
owa ds an en ep eneu ial ca ee is ela i ely s onge and mo e desi able in
Spain han in B i ain (68% and 52% espec i ely) . A simila inding was epo ed
by Uslay, Teach and Schwa z (2002) . They ound ha mo e Spanish s uden s
ag eed ha en ep eneu ship o e s job sa is ac ion han hei US coun e pa s .
Since B i ain is in he same Anglo g oup (Ho s ede, 2003) as he US, his inding
could also be conside ed o B i ish esponden s . This sugges s ha he salien
87
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B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
a B l e 2 . u l l -S a m p l e m e a S u e m e n m o d e l ( eliaBili y indica o S)
Cons uc / Indica o Loadings Composi e Reliabili y AVE
EI 0 .895 0 .589
A4 0 .7106
A6 0 .7665
A9 ecod 0 .6603
A13 0 .8540
A17 0 .8077
A19 ecod 0 .7901
PA 0 .858 0 .605
A10 0 .8279
A12 ecod 0 .6624
A15 0 .8526
A18 0 .7536
PBC 0 .836 0 .562
A1 0 .7662
A7 0 .7662
A14 0 .8009
A20 0 .6580
SN 0 .877 0 .704
A3 0 .7951
A8 0 .8375
A11 0 .8817
SV 0 .824 0 .700
C2 0 .8524
C6 0 .8208
CV 0 .842 0 .640
C1 0 .7706
C4 0 .8287
C7 0 .7992
SkillSe 0 .871 0 .531
D1 0 .7842
D2 0 .7016
D3 0 .6848
D4 0 .7730
D5 0 .7416
D6 0 .6782
KnowSupp 0 .922 0 .662
F3a 0 .7642
F3b 0 .7895
F3c 0 .8206
F3d 0 .8184
F3e 0 .8662
F3 0 .8208

88 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
Fo added con i ma ion, A e age Va iance Ex ac ed (AVE) assesses he
amoun o a iance ha a cons uc cap u es om i s indica o s ela i e o he
amoun due o measu emen e o (Chin, 1998) . I is usually conside ed ha
a le el abo e 0 .5 indica es adequa e eliabili y . In his case, all cons uc s had
AVEs o e ha le el .
Disc iminan alidi y may also be assessed compa ing AVE and he a iance
sha ed be ween his cons uc and he o he s in he model . Tha is, he squa ed
co ela ion be ween each pai o cons uc s . In his sense, Table 3 p esen s
AVE sco es on he main diagonal, oge he wi h squa ed co ela ions . As may
be obse ed, AVE sco es a e always highe , indica ing adequa e disc iminan
alidi y .
a B l e 3 . diSc iminan alidi y
EI PA PBC SN SV CV SkillSe K n o w
Supp
EI 0 .589
PA 0 .588 0 .605
PBC 0 .352 0 .269 0 .562
SN 0 .154 0 .197 0 .140 0 .704
SV 0 .108 0 .106 0 .101 0 .042 0 .700
CV 0 .145 0 .119 0 .077 0 .031 0 .151 0 .640
SkillSe 0 .140 0 .110 0 .235 0 .072 0 .052 0 .069 0 .531
KnowSupp 0 .076 0 .028 0 .120 0 .003 0 .026 0 .052 0 .048 0 .662
Resul s om he measu emen model indica e cons uc s p esen adequa e
p ope ies . Rega ding he s uc u al model, he main c i e ion o assess hei
adequacy is he coe icien o de e mina ion (R2) o each endogenous la en
a iable (Hensele , Ringle and Sinko ics, 2009), which should exceed 0 .10 (Falk
and Mille , 1992) . Figu e 2 shows he a iance explained (R2) in he endogenous
cons uc s and he pa h coe icien s (β) o all signi ican ela ionships .
Consis en wi h Chin (1998), boo s apping (500 esamples) has been used
o gene a e s anda d e o s and -s a is ics . Boo s apping ep esen s a non-
pa ame ic app oach o es ima ing he accu acy o he PLS es ima es . This
allows us o assess he s a is ical signi icance o he pa h coe icien s .
Figu e 2 p esen s he esul s o he join sample . To make i clea e , con ol
a iables a e no shown . Ins ead, Table 4 p esen s he signi ican coe icien s
o hose con ol a iables on each o he cons uc s conside ed . In his sense,
he coun y dummy has u ned ou o be e y ele an , signi ican ly a ec ing
almos all cons uc s . Only EI is no a ec ed by his a iable .
This would mean ha in en ions a e explained by he ele an cons uc s
and any di e ence in in en ions by coun y is explained by he di e ences
in he o he cons uc s . TPB assumes ha exogenous ac o s ope a e on
89
e i S a d e ec o n o m í a mu n d i a l 33, 2013, 73-103
B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
in en ion h ough he key an eceden s; hese indings suppo his ‘condui ’
e ec . Addi ionally, i may be said ha he Spanish sub-sample has lowe le els
o all o he cons uc s (excep SN), ein o cing he idea ha GB is a mo e
en ep eneu ial coun y han Spain .
i G u e 2 . e S u l S o Sem o J o i n S a m p l e
No e: Only signi ican (p<0 .05) pa hs shown . Dashed lines indica e non-hypo hesized
ela ionships .
a B l e 4 . SiGni ican c o n o l a i a B l e S o h e J o i n S a m p l e (p<0 .05)
EI PA SN PBC Skills
se
Knowldg .
suppo CV SV
Age 0 .100
Gende 0 .115 0 .108 0 .073
Yea S d -0 .041 0 .091
Role Model 0 .093 0 .067 0 .129 0 .157 0 .096
LabExp 0 .074 0 .090 0 .099
Sel Empl Exp 0 .052 0 .078 0 .078
Spain -0 .126 0 .075 -0 .155 -0 .083 -0 .272 -0 .156 -0 .289
90 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
I we now compa e he esul s om each sub-sample, we can see some
ele an di e ences . Figu e 3 p esen s hem . Solid a ows ep esen pa h
coe icien s signi ican in bo h sub-samples . Meanwhile, do ed lines a e used
when he pa h was only signi ican in one sub-sample .
i G u e 3 . co m p a a i e e S u l S o Sem o e a c h S u B -S a m p l e
No e: Only signi ican (p<0 .05) pa hs shown . The i s igu e co espond he GB sample;
he second o ha o Spain . Do ed lines indica e ela ionships signi ican only in one
sub-sample .
Finally, he mul ig oup analysis was ca ied ou o es whe he he e we e
any s a is ically signi ican di e ences among bo h sub-samples wi h espec o
pa h coe icien s (Chin, 2000) . In acco dance wi h his p ocedu e, a -s a is ic
has been calcula ed (equa ion 1 in Appendix 2), which ollows a -dis ibu ion
wi h m + n – 2 deg ees o eedom, Sp (equa ion 2 in Appendix 2) being he
pooled es ima o o he a iance, m he numbe o cases o he B i ish sample,
n he numbe o cases o he sample om Spain, and SE he s anda d e o o
he pa h p o ided by PLS-G aph in he boo s ap es . Resul s a e summa ized
in Table 5 .
91
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B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
a B l e 5 . mu l i G o u p a n a l y S i S
βGB βSpain βGB - βSpain -s uden Signi .
CV -> PA 0,155 0,205 -0,050 -0,7599 ns
CV -> SkillSe 0,171 0,215 -0,044 -0,5981 ns
CV -> KnowSuppo 0,225 0,154 0,071 1,0204 ns
SV -> SkillSe 0,125 0,131 -0,006 -0,0894 ns
SV -> PA 0,166 0,085 0,081 1,3432 ns
SV -> SN 0,213 0,141 0,072 1,1444 ns
SkillSe -> SN 0,275 0,205 0,070 0,9696 ns
SkillSe -> PBC 0,311 0,344 -0,033 -0,5212 ns
KnowSupp -> PBC 0,195 0,160 0,035 0,6193 ns
SN -> PA 0,483 0,302 0,181 2,8833 **
SN -> PBC 0,321 0,219 0,102 1,5247 ns
PBC -> EI 0,268 0,149 0,119 2,3646 *
PA -> EI 0,521 0,682 -0,161 -3,5221 ***
No e: ns = non-signi ican ; * = p < 0 .05; ** = p < 0 .01; *** = p < 0 .001
I is now possible o d aw some conclusions ega ding s uc u al ela ionships
among he cons uc s . O e all, as can be seen om Figu e 2, he co e in en ion
model o he join sample is ully suppo ed by he model . Thus, H1a h ough
o H1d a e con i med, indica ing ha he in luence o SN on in en ions is
indi ec ia PA and PBC, pe haps explaining he o en- ound weakness o SN
as a p edic o
The model explains 65% o he a iance in en ep eneu ial in en ion . This
is e y high gi en ha mos p e ious linea models end o explain less han
40% o he a iance in EI . The model also explains abou 35% and 43% o he
a iance in PA and PBC, due o he signi ican con ibu ion o SN .
Looking mo e closely a he esul s o each sub-sample, hey also p o ide
suppo o H1a, b, c and d . Consis en wi h he join sample, he a iance
explained by he model is abou he same (a ound 65%) . Thus, adding suppo
o applicabili y o he basic TPB model in e ms in en ion o ma ion being
simila in he wo coun ies examined .
As expec ed, wi h espec o he con ol a iables (demog aphic and human
capi al), he e a e ela i ely ew signi ican e ec s ei he on en ep eneu ial
in en ion, o on he an eceden s o en ep eneu ial in en ion . These e ec s
we e gene ally qui e small ( anging om .04 o .10) . The highes e ec s we e
o ha ing a ole model bo h on en ep eneu ial en i onmen knowledge ( .13)
and on a mo e posi i e alua ion in he close en i onmen , such as amily and
iends ( .15) .
Hypo heses 2a and b conce ned he ela i e in luence o PA and PBC on
EI o each o he wo sub-samples would be di e en . PA did indeed exe a
s onge e ec on EI in he Spanish sub-sample ( .682 s . .521) . This suppo s
hypo hesis H2a . In con as , PBC exe ed a s onge e ec on EI in he B i ish
92 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
sub-sample ( .321 s . .219) . This suppo s hypo hesis H2b . As shown in Table
5, bo h o hese e ec s we e signi ican ly di e en , adding obus ness o hese
indings .
Hypo heses 3a-d ocused on he in luence o social and close alua ion
on co e TPB elemen s o SN, PBC and PA . The esul s sugges a signi ican
posi i e pa h be ween social alua ion and SN o bo h he join sample and
wo sub-samples, p o iding suppo o H3a . Rega ding hypo hesis H3b, he e
was also a signi ican posi i e pa h be ween social alua ion and PBC o he
join sample and in one sub-sample (Spain) only, p o iding pa ial suppo o
his hypo hesis .
Hypo hesis H3c sugges ed ha close alua ion would in luence PA . This was
suppo ed o bo h he join sample and each sub-sample, p o iding suppo
o H3c . Hypo hesis 3d sugges ed ha close alua ion would in luence SN .
Howe e , his hypo hesis is no con i med o ei he he join sample o he wo
sub-samples .
Hypo hesis H4a-e conce ned he pa hs om en ep eneu ial skills o he TPB
elemen s, and he in luence o social and close alua ion on en ep eneu ial
skills . These hypo heses we e la gely con i med as en ep eneu ial skills we e
signi ican p edic o s o PA, SN and PBC espec i ely . This applied o he join
sample and he wo sub-samples, wi h he excep ion o skills-PA (H4a) which
was no signi ican in he B i ish sub-sample . Apa om his pa ial excep ion,
i is he e o e con i med ha pe cei ed en ep eneu ial skills signi ican ly
in luence he h ee mo i a ional cons uc s in bo h he Spanish and B i ish
sub-samples . H4d and H4e we e ully suppo ed because social alua ion and
close alua ion we e signi ican p edic o s o en ep eneu ial skills .
Hypo heses H5a-c we e only pa ially suppo ed . H5c was signi ican , bu
H5a and H5b we e no . En ep eneu ial en i onmen knowledge only appea ed
o be a signi ican p edic o o PBC . Howe e , his inding was applicable o
bo h he join sample and each sub-sample .
Rega ding hypo heses, H6a and b, again hese we e only pa ially
suppo ed . H6a (close alua ion would posi i ely in luence en ep eneu ial
en i onmen knowledge) was suppo ed, bu H6b (social alua ion would do
he same) was no .
The alua ion in he close en i onmen a he han socie y in gene al
he e o e appea s o in luence awa eness o he en ep eneu ial en i onmen .
5 . di S c u S S i o n
The main aim o his pape was ying o d aw oge he some o he s ands
in TPB-in en ion based models om a c oss-cul u al pe spec i e . Social and
skills pe cep ions, combined wi h en ep eneu ial en i onmen knowledge
we e in es iga ed o see how hey may a ec he mo i a ional an eceden s
o en ep eneu ial in en ion . To a la ge ex en , he majo i y o he hypo heses
we e suppo ed and he model explained a highly sa is ac o y pe cen age o

93
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B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
he a iance in en ep eneu ial in en ion and i s mo i a ional an eceden s .
Mo e speci ically, he hypo hesized model linkages ecei ed qui e s ong
suppo . Mos hypo hesized ela ionships (H1a-d, H2a and H2b, H3a-c,
H4a-e, H5c, and H6a) we e signi ican . Impo an ly, hese hypo heses we e
con i med o bo h he join sample and o each o he sub-samples, wi h only
wo excep ions (H3b, H4a) .
O e all hough, he model seems ai ly obus because i was la gely
applicable o bo h B i ish and Spanish sub-samples, ha is, despi e na ional
di e ences be ween he wo coun ies . E en when a limi ed numbe o
hypo heses we e no con i med (H3d, H5a, H5b and H6b), hey we e simila ly
no con i med in he join sample no o ei he o he na ional sub-samples .
This a leas indica es c oss-cul u al consis ency . In en ion was explained
by an essen ially consis en pa e n o (mo i a ional, social capi al, skill se
and en i onmen knowledge) an eceden s, sugges ing ha he o ma ion o
in en ions and in e nal cogni i e mechanisms is b oadly compa able in he
B i ish and Spanish sub-samples . This p o ides solid suppo o he c oss-
cul u al applicabili y o he en ep eneu ial in en ion model .
The gene al pic u e ob ained om hese esul s sugges s a ce ain pa h in
he con igu a ion o en ep eneu ial in en ions . As may be expec ed, close
and social alua ions exe a di ec e ec on PA and SN . A mo e a ou able
en i onmen owa ds en ep eneu ship will con ibu e o people eeling mo e
a ac ed and mo e suppo ed o become en ep eneu s . Bu , addi ionally,
pe cei ed close alua ions o en ep eneu ship (and social alua ions wi h
espec o skills) con ibu e o aising awa eness, knowledge and skills which, in
u n, also con ibu e o gene a ing mo e a ou able mo i a ional an eceden s
and, h ough hem, highe in en ion . This sugges s ha close en i onmen
alua ions o en ep eneu ship con ibu e owa ds encou aging he acquisi ion
o en ep eneu ial skills, oge he wi h knowledge and awa eness o he
en ep eneu ial ca ee pa h, lending indi ec suppo o he idea ha g adua es
alue in o mal mo e han o mal suppo sys ems (Shape o and Sokol, 1982;
Tackey and Pe yman, 1999) .
The inclusion o en ep eneu ial en i onmen knowledge in o he model
(H5 and H6) ex ended om p e ious esea ch (Liñán, 2008) . This cons uc
hus made an impo an con ibu ion . The e ec o knowledge (and skills) is
el especially on PBC, as may be expec ed, and, o a lesse ex en , on SN .
Mo eo e , i is a signi ican p edic o o PBC, ega dless o coun y, sugges ing
a consis en e ec o g ea e knowledge o en ep eneu ial en i onmen and
suppo sys ems con ibu ing o he sense o capaci y o i m c ea ion . In o he
wo ds, hey en ep eneu ial knowledge di ec ly con ibu es o eeling able
o engage in en ep eneu ial beha iou and pe cei ing con ollabili y o ha
beha iou .
One o he s onges indings was he hypo hesized c oss-cul u al di e ences
we e con i med, sugges ing he ole o cul u e in explaining in en ion is likely o
be qui e impo an . In pa icula he ela i e e ec s o PA and PBC on EI we e
94 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
signi ican ly di e en . PA exe ed a s onge e ec on EI in he Spanish sub-
sample . This is a no able inding and suppo s Bosma e al . (2008) and simila
wo k (Uslay e al ., 2002) ha en ep eneu ship is mo e s ongly associa ed
wi h pe sonal sa is ac ion and enjoymen in Spain .
Con e sely, he indings o H2b also suppo he Ho s ede-based idea
ha PBC is a s onge p edic o o EI in B i ain han Spain . Tha is, he
highe unce ain y a oidance in Spain sugges s ha en ep eneu ship will be
conside ed o be a mo e unce ain and ambiguous ca ee ou e, and hence
po en ially cul u ally less accep able and endo sed . We a gued his could
explain why eelings o en ep eneu ial sel -e icacy do no lead o highe s a -
up in en ions . This, combined wi h a highe ea o ailu e in Spain (Bosma e
al ., 2008), could explain why PBC was a weake p edic o o EI in Spain .
Only wo hypo heses a e held in one sub-sample alone . Social alua ion
did signi ican ly con ibu e o pe cei ed beha iou al con ol, albei no in he
B i ish sub-sample (H3b) . In a less en ep eneu ial cul u e ( ha o Spain),
pe cei ing low social alua ions would end o dec ease PBC, possibly due
o sha ed ea o ailu e and unce ain y a oidance belie s . Addi ionally,
possessing en ep eneu ial skills does no inc ease PA in B i ain (H4a) . Gi en
in his la e coun y he e is a highe social alua ion which di ec ly inc eases
PA, he ole o skills may no be so ele an in his espec . Meanwhile in Spain
(lowe social alua ion and weake e ec on PA) skills become impo an in
inc easing a ac ion owa ds en ep eneu ship .
Simila ly, when Spain was used as a dummy con ol a iable in he join -
sample analysis, i u ned ou o be e y in luen ial, wi h signi ican pa hs o
almos all cons uc s (excep EI) . The Spanish sub-sample had lowe le els on
mos cons uc s, namely, PA, PBC, skills se s, en ep eneu ial knowledge and
close /social alua ions . This suppo s he idea ha B i ain, a he han Spain,
was he mo e en ep eneu ial coun y . Taken oge he wi h he ela i e e ec s
o PA and PBC on EI in he wo sub-samples, his sugges s possible cul u al and
social nuances in he o ma ion o in en ion om i s an eceden s .
O e all, howe e , he indings sugges a heo y-d i en explana ion o
McG a h & MacMillan’s (1992) indings: G ea e simila i ies han di e ences
in he con igu a ion o mo i a ional an eceden s o en ep eneu ial in en ion
ha sugges pe haps a easonable deg ee o con e gence on he p e- ounding
cogni i e p ocesses o en ep eneu s in B i ain and Spain .
5 .1 . limi a ionS a n d implica ionS
Despi e he s ong suppo o he en ep eneu ial in en ion model in
his esea ch, he indings should be ea ed en a i ely because o he lack o
p e ious c oss-cul u al wo k using B i ish and Spanish samples . Tha said, he
model and indings seem qui e obus because hey: (a) explain a e y high
pe cen age o he a iance in en ep eneu ial in en ion and also in PA and PBC;
(b) we e based on wo coun ies which allowed o c oss-cul u al analysis; and
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B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
(c) s a is ical analysis ( ac o and s uc u al analysis) was b oadly equi alen in
B i ish and Spanish samples .
Taking he abo e in o accoun , wo main implica ions may be sugges ed .
The i s ela es o he indings ega ding he ela i e e ec s o PA and PBC
on en ep eneu ial in en ion in he B i ish and Spanish sub-samples (H2) .
This has impo an implica ions o policy make s . The e is an a gumen o
en ep eneu ship o ecei e g ea e posi i e social legi ima ion . Ou esul s
sugges s ha Spain is he less en ep eneu ial coun y, wi h a ela i ely weake
e ec be ween he c i ical mo i a ional cons uc , pe cei ed beha iou al con ol,
and en ep eneu ial in en ion, despi e highe le els o pe sonal a ac ion
o i m c ea ion . This p esen s Spanish policy make s wi h an oppo uni y
o ake s ock and add ess he issue o how en ep eneu ship is cul u ally
endo sed and app o ed in Spain, pe haps obse ing cul u al p ac ices in
B i ain . Fo example, how public policy in Spain, as well as Spanish uni e si ies,
encou age he image o en ep eneu ship and impo an ly acili a e posi i e
en ep eneu ial cogni ions . Tha is, a highe social p o ile, posi i e image in he
media and socie y, and mo e legal/ ax e o ms ha acili a e en ep eneu ship,
o ein o ce he social message ha i m c ea ion is an a ac i e, alued and
easible ca ee op ion . This should help o educe unce ain y a oidance abou
en ep eneu ship (pe cep ions ha his is an ambiguous and unce ain ca ee
pa h) and bols e PBC (g ea e sense o capaci y), and hence aise le els o
en ep eneu ial in en ion and beha iou . All hese a e es able p oposi ions
ha a e wo h explo ing .
The second main implica ion conce ns he e ec o en ep eneu ial
en i onmen knowledge o e PBC . Gi en ha his held, ega dless o coun y,
he e a e g ounds o sugges ha decision make s and en ep eneu ship
educa o s conside wha hey can do o enhance he le el o knowledge
and awa eness s uden s ha e abou he en ep eneu ial en i onmen . This
could ake he o m, o example, o aising awa eness o s uden s (pe haps
a a uni e si y-wide le el) o suppo bodies (e .g ., Business Link and simila
o ganiza ions, egional/local de elopmen agencies), aining and suppo
measu es (e .g ., echnical aid, incuba ion cen es) o de elop quali y businesses
and access o p e e en ial loans . Again his should help in sending ou he
igh signals ha becoming an en ep eneu is socially alued and enhance
pe cei ed capaci y abou i m c ea ion .
6 . co n c l u S i o n S
This esea ch has con ibu ed owa ds he li e a u e on en ep eneu ial
in en ion by de eloping and es ing an en ep eneu ial in en ion model in wo
coun ies, conside ing he ole o cul u e, along wi h mo i a ional and o he
cons uc s, especially, knowledge o he en ep eneu ial en i onmen . This
mo e in eg a ed and c oss-cul u al app oach has ecei ed li le a en ion in
p e ious esea ch .
96 a n c i S c o li ñ á n , Gh u l a m na B i , no i S k u e G e
The esul s suppo he majo i y o he hypo heses and he model b oadly
holds o he wo di e en coun ies . The ole o cul u al and social nuances,
do eme ge, especially in he ela i e s eng h o e ec s be ween PA and
PBC on en ep eneu ial in en ion . Salien cul u al belie s associa ed wi h an
en ep eneu ial ca ee appea o be a play, explaining why PA is mo e s ongly
linked o in en ion amongs ou Spanish sample, and PBC is mo e s ongly linked
o in en ion amongs ou B i ish sample . None heless, ou esul s gene ally
appea o sugges he c oss-cul u al applicabili y o he in en ion model, a leas
in e ms o he h ee mo i a ional an eceden s o en ep eneu ial in en ion .
The ela i e impo ance o he an eceden s o hese mo i a ional ac o s (social
and skills pe cep ions, en ep eneu ial en i onmen knowledge) also appea s
o be b oadly simila . Fu he esea ch should be ca ied ou o co obo a e
ou indings in he same coun ies unde in es iga ion in his esea ch and
o he cul u ally di e en coun ies o es he in e na ional applicabili y o he
model .
We now ha e new, obus insigh s in o wha “lies benea h” he o ma ion
o en ep eneu ial in en ions ha sugges use ul esea ch di ec ions and also
sugges p ac ical implica ions o policy make s . As such, ano he impo an
a enue o esea ch will be o examine he link be ween en ep eneu ial in en ion
and beha iou in di e en coun ies, wi h a iew o unde s anding he ex en o
which cul u al di e ences in luence his p ocess .
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e i S a d e ec o n o m í a mu n d i a l 33, 2013, 73-103
B i iSh a n d Sp a n i S h en e p e n e u i a l in e n i o n S :
a co m p a a i e S u d y
ap p e n d i x 2 . mu l i G o u p a n a l y S i S
Equa ion 1 . T-s a is ic wi h m + n - 2 deg ees o eedom
Equa ion 2 . Pooled es ima o o he a iance