The influence of economic recessions on the entrepreneurial intent: a cross-country analysis of the subprime crises

Abstract The literature, although point variables including lack of public safety, unemployment, corruption and the level of education as factors that influence the increase of entrepreneurial intention, does not investigate the effect of such variables through the existence of the endogenous relationship between economic growth and entrepreneurial intention. The objective of this study is to verify whether the economic recession influences entrepreneurial intention. The sample consisted of 60 234 individuals from 37 countries in 2009. Our results show that in scenarios with major economic downturns, people say they are more conducive to engage in entrepreneurial activities. Such result suggests that individuals seek in the economic crisis for business opportunities that may be motivated, possibly, by entrepreneurship by necessity. These evidences indicate that research on entrepreneurial intention should consider the economic situation of the analyzed environment.

摘要：现有文献虽已将公共安全缺失、失业、腐败与教育水平列为影响创业意向（entrepreneurial intention）提升的因素，但尚未结合经济增长与创业意向间的内生性关系，探究此类变量的作用效应。本研究旨在验证经济衰退是否会对创业意向产生影响。研究样本涵盖2009年来自37个国家的60234名个体。研究结果显示，在遭遇严重经济下行的情境下，受访者表示自身更倾向于参与创业活动。该结果表明，个体在经济危机中寻求商业机会的行为，或许可归因于必要性创业（entrepreneurship by necessity）动机。上述研究证据提示，创业意向相关研究应将所分析环境的经济状况纳入考量维度。