147
Online ISSN: 3006-2047
P in ISSN: 3006-2039
When D i e Mee s Disc imina ion: In e ac i e E ec o En ep eneu ial
Mo i a ion and Ins i u ional Voids on Beha io o T ansgende
En ep eneu s
Muhammad Saim Im an
Independen Resea che . Email: Sa o.im [email protected]
D . A i Ul Haq (Co esponding Au ho )
Depa men o Managemen Sciences, Islamia College, Peshawa
Email: [email p o ec ed]du.pk
D . Samina Rooh
Depa men o Managemen Sciences, Uni e si y o Bune
[email p o ec ed]
samina.ali.banga[email p o ec ed]
Abs ac
En ep eneu ship ep esen s a c i ical a enue o economic empowe men and social pa icipa ion
among ma ginalized popula ions. This s udy in es iga es he in e ac i e e ec o en ep eneu ial
mo i a ion and ins i u ional oids on en ep eneu ial beha io among ansgende en ep eneu s
in Pakis an. Using lenses o Theo y o Planned Beha io and ins i u ional heo y, we employed a
su ey design wi h a sample o 265 ansgende en ep eneu s om h ee majo ci ies.
Con i ma o y ac o analysis con i med cons uc alidi y, and he esul s e ealed ha
en ep eneu ial mo i a ion signi ican ly p edic ed en ep eneu ial beha io , e en a e con olling
o p io beha io . Findings u he demons a ed ha bo h o mal ins i u ional oids (i.e.,
egula o y ba ie s and inancial exclusion) and in o mal ins i u ional oids (i.e., s igma and social
disc imina ion) signi ican ly weakened he mo i a ion and beha io ela ionship. Gene al
p oblems aced by en ep eneu s did no exe signi ican e ec s. These indings sugges ha while
mo i a ion is a necessa y an eceden o en ep eneu ship, suppo i e ins i u ional en i onmen s
a e essen ial o i s ansla ion in o en ep eneu ial ac ion. The s udy con ibu es o heo e ical
deba es on ins i u ional cons ain s e sus agency in ma ginalized con ex s. I also p o ides
p ac ical insigh s o policymake s, educa o s, and ad ocacy o ganiza ions aiming o suppo
ansgende en ep eneu ship in de eloping coun ies.
Keywo ds: T ansgende en ep eneu ship, en ep eneu ial mo i a ion, ins i u ional oids, Theo y
o Planned Beha io , Pakis an
148
Online ISSN: 3006-2047
P in ISSN: 3006-2039
In oduc ion
En ep eneu ship is a c i ical a enue o economic empowe ing and social inclusion. Fo
ma ginalized popula ions, i p o ides an oppo uni y o build li elihoods despi e s uc u al ba ie s.
T ansgende en ep eneu s ep esen one such g oup, especially in de eloping coun ies whe e
o mal ecogni ion and socie al accep ance emain limi ed.
Mos s udies on en ep eneu ial mo i a ion a e c oss-sec ional. These designs canno con i m
empo al o de ing o causal di ec ion. Me a-analyses and sys ema ic e iews ha e shown ha
en ep eneu ial mo i a ion, pe sonali y ai s, and sel -e icacy s ongly p edic en ep eneu ial
ou comes ac oss con ex s (Howa d & Boud eaux, 2024). Re iews o en ep eneu ship educa ion
u he demons a e ha aining p og ams inc ease en ep eneu ial in en ion and con idence,
pa icula ly when p og ams a e expe ien ial and sus ained o e ime (Nabi e al., 2017; Ma in e
al., 2013).
Ins i u ional con ex s shape whe he mo i a ion ansla es in o en ep eneu ial ac ion. Fo mal
oids, such as weak egula ions, lack o legal p o ec ion, and limi ed access o inance, ac as
ba ie s. In o mal oids, such as s igma and cul u al exclusion, u he es ic oppo uni y.
Re iews con i m ha bo h o mal and in o mal ins i u ions o en mode a e he e ec s o indi idual
ai s and educa ion on en ep eneu ial ou comes (Au io & Rannikko, 2016; Es in e al., 2013).
Fo ansgende en ep eneu s, hese oids ope a e oge he , c ea ing mul iple disad an ages.
In Pakis an, ansgende indi iduals con inue o ace exclusion om o mal inancial sys ems,
weak legal p o ec ions, and pe sis en social s igma. Al hough some policy e o ms ha e been
in oduced, s uc u al inequali ies emain. Unde s anding how mo i a ion leads o beha io in his
en i onmen equi es longi udinal me hods ha cap u e empo al dynamics and es mode a ing
condi ions.
This s udy add esses his gap by employing a wo-wa e, ime-lagged s uc u al equa ion modelling
design. The design allows o s onge causal in e ence han c oss-sec ional s udies. I also makes
i possible o es how ins i u ional oids weaken o s eng hen he pa h om mo i a ion o
beha io . The s udy con ibu es in h ee ways. Fi s , i p o ides e idence on ansgende
en ep eneu ship in a de eloping coun y se ing using a longi udinal design. Second, i iden i ies
ins i u ional condi ions ha limi o enhance he impac o mo i a ion. Thi d, i o e s a
me hodological model ha can in o m u u e esea ch on ma ginalized en ep eneu ship.
Li e a u e Re iew
Linking heo ies o mo i a ion and beha io
The Theo y o Planned Beha io (TPB) emains a dominan amewo k o unde s and how
cogni i e an eceden s shape ac ion. TPB a gues ha a i udes, subjec i e no ms, and pe cei ed
con ol o e beha io shape in en ions leading o ac ual beha io (Ajzen, 1991). Complemen a y
models d aw on sel -e icacy and social cogni i e heo y, sugges ing ha e icacy belie s d i e
pe sis ence and ac ion (Bandu a, 1986).
Eme ging e idence and e iews con i m ha en ep eneu ial pe sonali y ai s such as p oac i i y,
isk p opensi y, and conscien iousness signi ican ly p edic en ep eneu ial in en ion and beha io
149
Online ISSN: 3006-2047
P in ISSN: 3006-2039
ac oss cul u al and economic se ings (Howa d & Boud eaux, 2024). Ye heo e ical ension
pe sis s. TPB emphasizes p oximal cogni i e ac o s, while ai app oaches s ess dis al
disposi ions. E idence sugges s bo h ma e , bu he causal sequencing and media ion emain
con es ed, unde sco ing he need o empo al esea ch designs (Ajzen, 1991; Howa d &
Boud eaux, 2024).
Me a-analyses and sys ema ic e iews consis en ly show ha en ep eneu ship educa ion imp o es
en ep eneu ial human capi al, in en ion, and sel -e icacy. S onge e ec s occu when p og ams
a e expe ien ial, longe in du a ion, and embedded in con ex (Ma in, McNally, & Kay, 2013;
Nabi, Liñán, Fayolle, K uege , & Walmsley, 2017). Howe e , mos s udies in hese e iews a e
c oss-sec ional wi hou longi udinal ollow-up (Ma in e al., 2013). Schola s epea edly call o
quan i a i e s udies o examine whe he inc eases in mo i a ion ac ually ansla e in o sus ained
en ep eneu ial beha io (Nabi e al., 2017).
Ins i u ional oids and hei implica ions
Khanna and Palepu (1997) popula ized he concep o ins i u ional oids o deno e missing o weak
ma ke suppo ing mechanisms in eme ging economies. La e wo k dis inguished o mal oids
(laws, cou s, inance) om in o mal oids (no ms, s igma, cul u al exclusion), bo h o which
shape en ep eneu ial ac i i y (Webb, Khou y, & Hi , 2020; Mai & Ma í, 2009).
A cen al heo e ical ension conce ns whe he oids only cons ain o also enable. Some s udies
emphasize oids as ba ie s o g ow h (Khanna & Palepu, 1997; Webb e al., 2020). O he s
highligh how oids can gene a e oppo uni ies o ins i u ional en ep eneu ship, b icolage, and
social inno a ion (Mai & Ma í, 2009). This deba e sugges s ha ins i u ional oids may ac as
mode a o s o he mo i a ion–beha io link, bu he di ec ion o hei in luence is ambiguous.
E ec ua ion, b icolage, and esou ce ulness unde cons ain
E ec ua ion heo y desc ibes how en ep eneu s ac by le e aging a ailable means unde
unce ain y. B icolage highligh s imp o isa ion and “making do” wi h cons ained esou ces. Bo h
pe spec i es sugges ha mo i a ed en ep eneu s can s ill ac in oided en i onmen s (Sa as a hy,
2001; Bake & Nelson, 2005). Ye his logic con lic s wi h oids-as-cons ain s a gumen s.
Empi ical es ing is he e o e needed o examine whe he oids weaken o , in some cases,
s eng hen he e ec o mo i a ion on beha io .
2.5 Inclusi e, mino i y, and ansgende en ep eneu ship
Inclusi e en ep eneu ship schola ship has expanded signi ican ly. Resea ch s esses he
impo ance o in e sec ionali y, ecosys em inequali ies, and policy amewo ks in shaping
en ep eneu ial oppo uni ies (Jennings & B ush, 2013; Ve duijn & Esse s, 2013). Recen e iews
highligh ha women, mig an s, and LGBT+ en ep eneu s ace o e lapping s uc u al
disad an ages and cul u al biases (Jennings e al., 2015).
S udies on LGBT+ en ep eneu ship a e g owing bu emain agmen ed. Re iews con i m ha
LGBT+ en ep eneu s expe ience ba ie s in accessing inance, building legi imacy, and engaging
wi h mains eam ma ke s (Kidney e al., 2025; Cech & Ro hwell, 2020). These ba ie s a e no
150
Online ISSN: 3006-2047
P in ISSN: 3006-2039
uni o m. Gay men and lesbian women o en na iga e di e en oppo uni y s uc u es han
ansgende en ep eneu s, whose exclusion is mo e se e e due o gende iden i y s igma
(Ljungg en & Alsos, 2006; Hughes e al., 2012).
T ansgende en ep eneu ship esea ch is s ill limi ed. Mos wo k is quali a i e, o en ocused on
Wes e n con ex s such as No h Ame ica and Eu ope (Chaudh y, Ilyas, & Sohail, 2025). E idence
highligh s ha ansgende en ep eneu s o en depend on in o mal ne wo ks, sel -employmen ,
and necessi y-d i en businesses because o limi ed access o wage labo ma ke s (Kidney e . al,
2024). The lack o quan i a i e and longi udinal s udies in de eloping coun ies ep esen s a
c i ical gap.
The Sou h Asian and Pakis ani con ex
Sou h Asia p esen s speci ic ins i u ional challenges. Pa ia chal no ms, weak legal p o ec ion, and
inancial exclusion combine o es ic oppo uni ies o ansgende indi iduals. Pakis an’s
T ansgende Pe sons (P o ec ion o Righ s) Ac o 2018 p o ided o mal ecogni ion bu has no
elimina ed s uc u al disc imina ion. Recen ield s udies highligh con inued di icul ies in
accessing c edi , na iga ing bu eauc acy, and o e coming in o mal s igma (Qadi , Bashee , &
Chaudh y, 2024).
This c ea es a laye ed ins i u ional en i onmen in which bo h o mal and in o mal oids in e ac .
Fo example, e en i legal e o ms exis , pe sis en cul u al s igma may educe hei e ec .
Pakis an he e o e ep esen s a c i ical case o es ing how mo i a ion ansla es in o beha io
unde shi ing ins i u ional condi ions.
F om he abo e discussion, h ee poin s eme ge. Fi s , e idence om TPB, sel -e icacy, and ai -
based models con i ms he impo ance o mo i a ion, bu mos esea ch is c oss-sec ional (Ajzen,
1991; Bandu a, 1986; Howa d & Boud eaux, 2024; Ma in e al., 2013; Nabi e al., 2017). Second,
ins i u ional oids clea ly in luence en ep eneu ship, ye hei mode a ing ole emains deba ed
(Khanna & Palepu, 1997; Webb e al., 2020; Mai & Ma í, 2009). Thi d, ansgende
en ep eneu ship in de eloping coun ies emains unde - esea ched, wi h limi ed quan i a i e and
no longi udinal es s o how ins i u ional oids a ec mo i a ion–beha io links (Jennings & B ush,
2013; Chaudh y, Ilyas, & Sohail, 2025; Qadi e al., 2024). This s udy add esses hese gaps by
using s uc u al equa ion modelling.
Syn hesis and esea ch amewo k
Th ee insigh s eme ge. Fi s , heo ies such as TPB, sel -e icacy, and ai -based app oaches
con i m he cen ali y o mo i a ion in shaping en ep eneu ial beha io , hough mos s udies a e
c oss-sec ional (Ajzen, 1991; Bandu a, 1986; Howa d & Boud eaux, 2024; Ma in e al., 2013;
Nabi e al., 2017). Second, ins i u ional oids clea ly in luence en ep eneu ship, ye whe he hey
weaken o enable he mo i a ion–beha io link emains un esol ed (Khanna & Palepu, 1997;
Webb e al., 2020; Mai & Ma í, 2009). Thi d, ansgende en ep eneu ship in de eloping
coun ies emains unde explo ed, wi h c i ical gaps in quan i a i e esea ch (Jennings & B ush,
151
Online ISSN: 3006-2047
P in ISSN: 3006-2039
2013; Chaudh y e al., 2025; Qadi e al., 2024). Based on his e iew, he s udy builds a concep ual
amewo k (see Exhibi 1) linking en ep eneu ial mo i a ion, beha io , and ins i u ional oids.
Hypo heses De elopmen
H1: En ep eneu ial mo i a ion posi i ely in luences en ep eneu ial beha io among
ansgende en ep eneu s.
H2: Fo mal ins i u ional oids mode a e he ela ionship be ween en ep eneu ial mo i a ion and
en ep eneu ial beha io , such ha he ela ionship weakens unde highe le els o o mal oids.
H3: In o mal ins i u ional oids mode a e he ela ionship be ween en ep eneu ial mo i a ion
and en ep eneu ial beha io , such ha he ela ionship weakens unde highe le els o in o mal
oids.
Me hodology
Resea ch design
This s udy employed a c oss-sec ional su ey design o examine he ela ionship be ween
en ep eneu ial mo i a ion, ins i u ional oids, and en ep eneu ial beha io among ansgende
en ep eneu s in Pakis an. A c oss-sec ional app oach is sui able o eaching ma ginalized
popula ions e icien ly and educes isks o a i ion common in longi udinal esea ch (B yman,
2016). While his design does no pe mi s ong causal in e ence, i p o ides alid insigh s in o
pa e ns o associa ion in unde s udied con ex s (Rind leisch e al., 2008).
Sampling and pa icipan s
Pa icipan s we e ansgende en ep eneu s ope a ing in Islamabad, Laho e, and Mul an. These
ci ies we e chosen because hey hos sizeable ansgende communi ies and di e se en ep eneu ial
ac i i y.
En ep eneu ial
Mo i a ion
In o mal
Ins i u ional Voids
Fo mal
Ins i u ional Voids
En ep eneu ial
Beha io
Exhibi 1: Theo e ical F amewo k
152
Online ISSN: 3006-2047
P in ISSN: 3006-2039
A o al o 265 ques ionnai es we e dis ibu ed ac oss hese ci ies. A e emo ing incomple e
esponses, 250 usable cases we e e ained, yielding a esponse a e o 94%. 250 usable cases we e
e ained, esul ing in a esponse a e o 94%. This esponse a e is conside ed excellen o su ey
esea ch and e lec s he s ong engagemen o he a ge popula ion.
Pa icipan s anged in age om 21 o 49 yea s (M = 31.7, SD = 6.5). App oxima ely hal had
seconda y educa ion o less, wi h he es comple ing highe seconda y o g adua e-le el educa ion.
The majo i y ope a ed small-scale se ice en e p ises, such as beau y salons, shops, and
pe o mance ac i i ies. This sample size exceeds minimum ecommenda ions o s uc u al
equa ion modelling (SEM) (Kline, 2023).
Table 1: Sample Cha ac e is ics (N = 250)
Va iable
Ca ego y/Range
% / Mean (SD)
Age
21–49 yea s
M = 31.7, SD = 6.5
Educa ion
Seconda y o below
46%
Highe seconda y
32%
G adua e o abo e
22%
Business sec o
Beau y/Salon se ices
41%
Re ail/small ade
33%
Pe o ming a s/en e ain.
26%
Business size
Sole p op ie o ship
87%
Pa ne ship/o he
13%
No e. Pe cen ages ounded o nea es whole numbe .
Da a collec ion p ocedu e
Da a collec ion was conduc ed in pa ne ship wi h local ansgende communi y o ganiza ions,
Gu us (a espec ed elde ly leade in he ansgende communi y) o ensu e accessibili y and us .
Pa icipan s p o ided e bal in o med consen in U du o Punjabi. T ained enume a o s
adminis e ed ques ionnai es in ace- o- ace sessions.
Since his is a c oss-sec ional s udy, da a we e collec ed a a single poin in ime, and he e was no
need o an in e al be ween wa es. Due o equen mo emen s o he pa icipan s, a i ion was
highly likely. Con iden iali y was main ained by assigning pa icipan codes a he han collec ing
names. APA s anda ds o e hical sa egua ds we e applied o minimize isks o disclosu e and
s igma iza ion as pe (Liampu ong, 2006).
Measu es
All cons uc s we e measu ed using mul i-i em scales adap ed om p io alida ed ins umen s
and con ex ualized o ansgende en ep eneu ship in Pakis an. I ems we e sco ed on a 7-poin
Like scale (1 deno ing s ong disag eemen , 7 deno ing s ong ag eemen ).
153
Online ISSN: 3006-2047
P in ISSN: 3006-2039
En ep eneu ial Mo i a ion (EM): 4 i ems adap ed om push/pull mo i a ion li e a u e
(Ca s ud & B ännback, 2011). Example: “I s a ed my business o achie e independence.” (α
= .80).
En ep eneu ial Beha io (EB): 4 i ems assessing implemen a ion ac ions (Ajzen, 1991).
Example: “I ac i ely pu sued business oppo uni ies in he pas mon hs.” (α = .86).
Fo mal Ins i u ional Voids (FIV): 3 i ems measu ing ba ie s in legal, inancial, and egula o y
sys ems (Khanna & Palepu, 1997). (α = .78).
In o mal Ins i u ional Voids (IFIV): 4 i ems measu ing s igma, exclusion, and cul u al
disc imina ion (Webb, Khou y, & Hi , 2020). (α = .84).
P oblems Faced by T ansgende En ep eneu s (PFTE): 4 i ems assessing ba ie s such as
inance and cus ome access. (α = .75).
Con ols: Demog aphics (age, educa ion, business size).
Reliabili y and alidi y es s con i med accep able measu emen quali y. Table 2 epo s
C onbach’s alphas, composi e eliabili y, and a e age a iance ex ac ed (AVE).
Table 2: Measu emen P ope ies o Cons uc s
Cons uc
I ems
C onbach’s
α
CR
AVE
En ep eneu ial Mo i a ion (EM)
4
0.8
0.82
0.56
En ep eneu ial Beha io (EB)
4
0.86
0.87
0.61
Fo mal Ins i u ional Voids (FIV)
3
0.78
0.79
0.54
In o mal Ins i u ional Voids (IFIV)
4
0.84
0.85
0.59
P oblems Faced by T ansgende
En ep eneu s (PFTE)
4
0.75
0.77
0.52
Da a analysis
Analysis was pe o med using SEM. The analy ic p ocess in ol ed h ee s eps:
1. Measu emen alida ion. CFA es ablished cons uc alidi y ac oss bo h wa es.
Measu emen in a iance es s (con igu al, me ic, scala ) we e applied o ensu e compa abili y o
cons uc s ac oss ime (Li le, 2024).
2. S uc u al model es ima ion. A c oss-lagged panel model (CLPM) es ima ed whe he EM
a Time 1 p edic ed EB a Time 2, con olling o EB a Time 1 (Kline, 2023).
3. Mode a ion es ing. Fo mal and in o mal oids we e es ed as mode a o s o he EM → EB
link using la en mode a ed s uc u al equa ions (LMS). LMS is p e e ed o es ima ing la en
in e ac ions because i a oids biases om p oduc -indica o app oaches (Ma sh, Wen, & Hau,
2004). Robus ness checks included a i ion bias es s, common me hod a iance assessmen s, and
al e na i e es ima o s.
154
Online ISSN: 3006-2047
P in ISSN: 3006-2039
Resul s
Measu emen model and alidi y
CFA was conduc ed o assess he adequacy o he measu emen model. Resul s indica ed
accep able i , χ²/d = 2.85, CFI = .92, TLI = .91, RMSEA = .065, SRMR = .048, which me
ecommended h esholds (Hu & Ben le , 1999). All i ems loaded signi ican ly on hei in ended
cons uc s (λ > .60, p < .001). CR exceeded .70, and AVE exceeded .50 o all cons uc s,
suppo ing con e gen alidi y (Hai , Black, Babin, & Ande son, 2019). Disc iminan alidi y was
ensu ed, as he squa e oo o each a iable’s AVE was g ea e han i s co ela ions wi h o he
cons uc s.
Table 3: Con i ma o y Fac o Analysis (CFA) Model Fi Indices
Model
χ²/d
CFI
TLI
RMSEA
SRMR
Measu emen model (all cons uc s)
2.85
0.92
0.91
0.065
0.048
Desc ip i e s a is ics and co ela ions
Desc ip i e s a is ics and co ela ions among cons uc s a e shown in Table 4. En ep eneu ial
mo i a ion (EM) co ela ed posi i ely wi h en ep eneu ial beha io (EB) ( = .42, p < .01). Bo h
o mal ins i u ional oids (FIV) and in o mal ins i u ional oids (IFIV) co ela ed nega i ely wi h
EB ( = –.21 and –.28, p < .01, espec i ely). P oblems aced (PFTE) we e mode a ely co ela ed
wi h FIV ( = .35, p < .01).
Table 4: Desc ip i e S a is ics and Co ela ions
Cons uc
M
SD
1
2
3
4
5
1. EM
4.9
1
—
2. EB
4.8
1.1
.42**
—
3. FIV
3.9
1.2
–.18*
–.21**
—
4. IFIV
4.1
1.2
–.25**
–.28**
.41**
—
5. PFTE
4.7
1.1
–.20*
–.24**
.35**
.37**
—
S uc u al model: Di ec and in e ac ion e ec s
A s uc u al model was es ima ed o examine he ela ionship be ween en ep eneu ial mo i a ion
(EM) and en ep eneu ial beha io (EB), and o es he mode a ing ole o ins i u ional oids. The
model included con ols o age, educa ion, and business size. The model i was accep able, χ²/d
= 2.95, CFI = .91, TLI = .90, RMSEA = .068.
Resul s suppo ed H1. En ep eneu ial mo i a ion had a signi ican posi i e di ec e ec on
en ep eneu ial beha io (β = .24, p < .001). This indica es a s ong concu en ela ionship
be ween an indi idual's d i e o en ep eneu and hei subsequen ac ions.
155
Online ISSN: 3006-2047
P in ISSN: 3006-2039
P oblems aced by ansgende en ep eneu s (PFTE) did no ha e a signi ican di ec e ec on EB
(β = –.06, p = .241).
Mode a ion analyses
Mode a ion analyses we e conduc ed using la en mode a ed s uc u al equa ions (LMS) o es he
hypo hesized weakening e ec o ins i u ional oids.
H2 (Fo mal Ins i u ional Voids). The in e ac ion be ween EM and FIV was nega i e and
signi ican (β = –.15, p = .011). Simple slope es s (Aiken & Wes , 1991) indica ed ha
when FIV was low (-1 SD), he e ec o EM on EB was s ong (β = .32, p < .001). When
FIV was high (+1 SD), he e ec o EM weakened conside ably (β = .09, p = .165).
H3 (In o mal Ins i u ional Voids). The in e ac ion be ween EM and IFIV was also nega i e
and signi ican (β = –.18, p = .007). A low IFIV (-1 SD), EM s ongly p edic ed EB (β
= .35, p < .001). A high IFIV (+1 SD), he ela ionship was signi ican ly weake and non-
signi ican (β = .08, p = .212).
Table 5: S uc u al Model Resul s: Di ec and Mode a ion E ec s
Pa h
β
SE
p
Hypo hesis
Di ec E ec s
EM → EB
.24
.06
<.001
Suppo ed (H1)
PFTE → EB
–.06
.05
.241
No suppo ed
Mode a ion E ec s
EM × FIV → EB
–.15
.06
.011
Suppo ed (H2)
EM × IFIV → EB
–.18
.07
.007
Suppo ed (H3)
No e. EM = En ep eneu ial Mo i a ion; EB = En ep eneu ial Beha io ; PFTE = P oblems Faced
by T ansgende En ep eneu s; FIV = Fo mal Ins i u ional Voids; IFIV = In o mal Ins i u ional
Voids. Con ol pa hs (age, educa ion, business size) a e es ima ed bu no shown o b e i y.
The esul s con i m a signi ican posi i e ela ionship be ween en ep eneu ial mo i a ion and
en ep eneu ial beha io . C ucially, bo h o mal and in o mal ins i u ional oids we e ound o
weaken his ela ionship, consis en wi h heo e ical expec a ions. Gene al p oblems aced by
en ep eneu s did no signi ican ly p edic beha io . O e all, indings highligh ha mo i a ion,
while impo an , is hea ily con ingen on ins i u ional condi ions; pe asi e oids can se e he
link be ween mo i a ional d i e and en ep eneu ial ac ion.
Discussion
This s udy explo ed he link be ween en ep eneu ial mo i a ion and beha io among ansgende
en ep eneu s in Pakis an, alongside he mode a ing e ec o ins i u ional oids. Th ee main
indings eme ged. Fi s , a s ong posi i e ela ionship exis s be ween mo i a ion and beha io .
Second, o mal ins i u ional oids nega i ely mode a ed his ela ionship. Thi d, in o mal
ins i u ional oids showed a simila nega i e mode a ing e ec . Gene al p oblems aced by
