Influence of Socio-Cultural Factors on Entrepreneurship, Evidence from Chile 2007-2010.

Abstract

The objective of this study is to verify how some elements of the Chilean socio-cultural framework impacts on the likelihood to be an entrepreneur. Other demographic variables were included in this study. To conduct this research, a pool data set was generated with the Chilean Global Entrepreneurship Monitor, GEM, adult population survey from 2007 to 2010, to which a rare events logit regression model was applied. The results indicate that Role Models and Social Fear of Failure explain part of the propensity to be involved in entrepreneurial activity.