Evaluation Model of the Entrepreneurial Character in EU Countries

• Main Authors: Sebastian Madalin Munteanu, Irina-Eugenia Iamandi, Eugeniu Tudor
• Format: Article
• Language: English
• Published: Academy of Economic Studies of Bucharest 2015-02-01
• Series: Amfiteatru Economic
• Subjects: entrepreneurship; principal component analysis (PCA); EU member countries; culture; entrepreneurial education; economic and administrative measures
• Online Access: http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=2372

The evidence of entrepreneurship development as a factor of sustainable growth at national and regional level frequently calls for the interest of theorists and practitioners on identifying and outlining the best conditions and economic essential prerequisites for supporting the entrepreneurial initiatives on the long term. In this context, the objective of the present research is to analyse and measure the entrepreneurial character of the European Union member countries in an integrated manner, by developing an innovative model for proposing specific action lines and objectively evaluating the entrepreneurship development in the investigated states. Our model is based on a synthesis variable of the entrepreneurial national character, which was developed by sequential application of principal component analysis, while the initial variables are from secondary sources with good conceptual representativeness. Depending on the objective relevance of the three model components (cultural, economic and administrative, and entrepreneurial education components), the achieved results confirm the importance of a favourable cultural and economic and administrative background for entrepreneurship development and they reiterate the inefficiency of isolated entrepreneurial education unless supported by good entrepreneurial culture or adequate economic and administrative infrastructure. The case of Romania, in relation with the European Union member countries, is presented in detail.