Abstract:

The increasing importance of entrepreneurship for flourishing economic progression, innovation and job creation have raised the concerns of decision makers and researchers for the investigation of the dynamics that could have an influence on the entrepreneurial activity levels. Indeed, transformations in entrepreneurship and entrepreneurial activity levels are considerable, persistent and distinctive in their history in different regions, particularly in Europe. This study extends Ajzen’s (1991) theory of planned behavior by developing a highly integrated conceptual framework to analyze the entrepreneurial intentions by analyzing individualistic and collectivistic dimensions to entrepreneurship. This framework determines how both dimensions influence the entrepreneurial intentions. This incorporates the significant role of individualism and collectivism along with entrepreneurial capability, social status and social norms across European countries. The study analyzed the cross-cultural applicability of the proposed model across Northern Europe and the Danube Region by using Global Entrepreneurship Monitor (GEM) databases. Structural equation modeling is applied to overcome the limitations of past research studies. The study also provides practical implications for entrepreneurship academicians and policy makers. Specifically, developing awareness and knowledge about entrepreneurship would improve self-efficacy and ultimately entrepreneurial intentions.

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