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Going beyond the traditional approach of formal and informal institutions as antecedents of entrepreneurship (directly) and development (indirectly), this paper seeks to explore knowledge institutions as a necessary input for entrepreneurship and the development of societies.

Institutional economics lenses are utilized to observe other factors (e.g. the number of R&D staff and researchers from the public sector) that involve laws and socialization processes, which at the same time create knowledge useful for entrepreneurs and society. These ideas are tested through a sample of 281 observations from 17 autonomous communities and two autonomous cities in Spain. The information coming from the Global Entrepreneurship Monitor (GEM), Ministry of Economics, Industry, and Competitiveness, and INE (Instituto Nacional de Estadística), was analyzed through 3SLS, which is useful for a simultaneous equation strategy.

Knowledge institutions such as the number of R&D staff and researchers from the public sector are found positively associated with entrepreneurship, which is a factor directly and positively linked to economic development across Spanish regions.

The findings help the operationalization of other institutions considered in institutional economics theory and its application to entrepreneurship research. Moreover, the results bring new insights into the knowledge spillover theory of entrepreneurship in the public sector, in which the institutional analysis is implicit.

Motivated by a lack of evidence regarding the effect of migration on entrepreneurship in a highly informal country, such as Colombia, this paper has a twofold purpose. First, it explores how Venezuelan immigration affects entrepreneurial activity in Colombian regions. Second, it intends to shed light on this relationship, by distinguishing between formal and informal sectors.

With a sample of 1,776,063 individuals, from the Labor Survey Gran Encuesta Integrada de Hogares (GEIH) from the Departamento Administrativo Nacional de Estadística (DANE), the authors employ an instrumental variable approach to account for the selection of immigrants into locations with more or less desirable conditions.

The results suggest Venezuelan immigration positively influences self-employment and own-account workers, but negatively affects employers. However, once these immigrants proliferate in the informal sector, the effects increase.

This paper brings new insights into the intersection between immigration, unofficial economies, and entrepreneurship. First, while the prior literature focuses on migration from developing to developed countries, migratory flows between developing economies and its effects on local entrepreneurial activity remain unexplored. Second, although informality is mostly common in developing countries, little (albeit growing) evidence of its role in the relationship between migration and entrepreneurship research exists. Finally, the authors bring together these two phenomena to enhance our understanding of different types of entrepreneurial activities when immigration and informality take place. Policy implications are derived from these insights.

A debate on whether new ventures should be supported with public funding is taking place. Adopting a position on this discussion requires rigorous assessments of implemented programs. However, the few existing efforts have mostly focused on regional cases in developed countries. To fill this gap, this paper aims to measure the effects of a regional acceleration program in a developing country (Medellin, Colombia).

The economic notion of capabilities is used to frame the analysis of firm characteristics and productivity, which are hypothesized to be heterogeneous within the program. To test these relationships, propensity score matching is used in a sample of 60 treatment and 16,994 control firms.

This paper finds that treated firms had higher revenue than propensity score-matched controls on average, confirming a positive impact on growth measures. However, such financial growth is mostly observed in service firms rather than other economic sectors.

Further evaluations, with a longer period and using more outcome variables, are suggested in the context of similar publicly funded programs in developing countries.

These findings tip the balance in favor of the literature suggesting supportive programs for high-growth firms as opposed to everyday entrepreneurship. This is an insight, especially under the context of an emerging economy, which has scarce funding to support entrepreneurship.

The purpose of this paper is to examine the influence of cultural leadership factors (charismatic/value-based, team oriented, participative, humane, autonomous and self-protective) on the rates of opportunity and necessity entrepreneurship.

The study integrates insights from institutional and cultural leadership theories to provide a fresh perspective to advance comparative entrepreneurship research. To test the hypotheses, the authors conduct a multiple regression analysis with observations from 34 countries, using data (from the year 2013) from the Global Entrepreneurship Monitor for the dependent variable and from Global Leadership and Organizational Behavior Effectiveness to create leadership factors as independent variables.

The results show that all the types of leadership considered in the study have a relevant effect on entrepreneurial activity. However, charismatic leadership has a greater effect on entrepreneurial activity, particularly on opportunity entrepreneurship. The research also shows that autonomous leadership has a negative impact on entrepreneurial activity, although, when it is moderated by the humane dimension, this relationship changes.

Since the alternative dimensions facilitate or inhibit the generation of new firm creation, it is critical for researchers, teachers and leaders to learn about and to foster such leadership types.

This research covers a gap in the cross-cultural evidence presented in the literature and suggests the integration of the concepts leadership and entrepreneurship.

The main objective of this research is to exploratorily analyse different factors that influence the decision of the senior population (+50 years) to engage in entrepreneurship activities in a group of Latin American countries. This study considers the motivations for entrepreneurship (opportunity and necessity) and the level of development of the countries.

The authors used data from the Global Entrepreneurship Monitor (GEM) with a sample of 22,139 observations of senior individuals in seven Latin American countries surveyed between 2013 and 2017. The authors also used the Human Development Index to capture the relevance of the level of development. The authors employed a multilevel logistic regression model to test the study hypotheses.

The study results show that individual factors such as personal income, education and occupation have a significant influence on the probability of entrepreneurship of senior individuals. Related to contextual factors, the level of human development of a country has a negative influence mainly on opportunity-based entrepreneurs.

Because of the rapidly ageing population in Latin America, understanding senior entrepreneurs and their motivations is very relevant not only in terms of theoretical development but also for policy and practical implications, primarily those related to labour markets and social protection.

The chapter explores the challenges in the financial education of the new generation under the influence of digital transformation, building awareness, and compliance with the new model of society. The rapid development of technology significantly influences our daily lives, thus making us look at the progress of various processes differently, thus facilitating the social and professional performance of subjects. The need for a comprehensive, fast, and logical personality is growing in a society that can analyse a set of different interconnections, draw logical conclusions, and assess risks. The impact of technology is particularly felt in educating future financiers, as accounting, financial analysis, and financial management decision-making have long been unthinkable without the skills to use various computer programmes, big data processing, and visualisation of financial information using the latest information technology tools. The survey was organised to collect data from student questionnaires. The questionnaire analysis allows for assessing students’ digital competences, advantages and drawbacks of the digitalisation process, and university challenges in the digital transformation process as well as detecting the areas that require additional attention to make digital transformation effective. Digital transformation significantly changes the ecosystem, and the level of students’ abilities and skills is also a variable. Therefore, it is important to identify the readiness of the participants in the higher education system for new challenges and to use the limited resources as efficiently as possible to prepare the financial specialists necessary for the development of society.

Given the importance of growth-oriented entrepreneurship in the context of economic development and the need to understand how rural communities can be developed, the purpose of this research paper is to determine how the drivers of growth expectations differ between urban and rural settings.

The methodology is threefold: firstly, a descriptive analysis with non-parametric testing is conducted; then pooled regression model is used to analyse the predictors of growth expectations in both contexts, and finally, coarsened exact matching is used to identify possible self-selection bias.

In contrast to mainstream entrepreneurship theory, it is found that entrepreneurs’ intrinsic knowledge, skills and abilities are not significant in the rural-specific model. The only exception is entrepreneurs’ educational level, the importance of which is emphasised as a pivotal factor in increasing high-growth ventures in rural communities. Additionally, when self-selection is eliminated, rurality worsens growth intentions.

There is evidence that some growth-oriented entrepreneurs self-select into rural communities. Because the high-growth entrepreneurial dynamics in rural areas are unique, public policies should target purpose-driven entrepreneurial education. This includes encouraging “lifestyle entrepreneurship” (e.g. retirees returning to rural areas to become entrepreneurs), preventing entrepreneurial brain drain in rural areas and attracting highly educated urban entrepreneurs to exploit opportunities in rural areas.

This research attempts to contribute to the ongoing debate regarding the factors that drive high-growth entrepreneurs in rural areas by analysing rural entrepreneurs in the high-growth context of a developing economy. The focus is on Chile – a country that is rarely investigated compared to the USA or Europe – to extend the literature on high-growth ventures and entrepreneurial ecosystems.

The proceedings of the 17 editions of the conference of the Spanish Association of Scientific Experts in Tourism constitute a valuable archival resource within the research on Spanish tourism. But so far their contents have not been analyzed. The aim of this chapter is to examine the research that has been presented at its conference by means of a bibliometric analysis of the proceedings of 17 editions. The study focuses on the origin of the research (countries, regions, institutions, and authors), as well as its characteristics in terms of themes dealt with, geographical areas researched, methodologies, disciplinary areas, and attitudes toward tourism. Implications for the evolution of the research are discussed in terms of knowledge contributions and the shaping of major tourism research traditions.

The purpose of this research is to analyze the ability of agrifood systems to construct “customized competitiveness” strategies that can allow firms to meet the specific and constantly changing demands of foreign markets.

The research performs a comparative analysis of three case studies of agrifood systems in Argentina: lemon, pork, and dairy products. The authors obtained primary data from 79 semi-structured interviews with key persons in each agrifood system carried out online between March 2020 and February 2021. Secondary data was obtained from databases, academic studies, and reports from business associations and public agencies.

The authors find wide disparities in the development of customized competitiveness strategies between the studied agrifood systems (higher in lemon, lower in dairy products, and incipient in pork). The authors attribute the disparity to the varying degrees in which these systems are capable of coordinating their own actions and their interactions with State agencies.

The paper provides comparative evidence about the role of private coordination in the ability of agrifood systems to construct customized competitiveness strategies.

The purpose of this study is to examine the impact of financial sustainability indicators of higher education on foreign direct investment (FDI) using empirical evidence from 26 Organization for Economic Co-operation and Development (OECD) countries. The basic criterion for determining the financial sustainability of higher education institutions included indicators of income generated by higher education institutions being greater than the operational costs. However, this requires financial sustainability, which depends on financial self-sufficiency without seeking external financial assistance. This situation is affected by investment attractiveness.

Three quantitative proxies were used in this study to explain the financial sustainability indicators in higher education institutions of OECD countries: financial expenditures proxy measured by current tertiary education expenditure (CE); efficiency proxy measured by university-life expectancy (ULE) and endogenous growth proxy measured by gross enrolment tertiary ratio (GETR) to show the effect on FDI. Also, this study used six control variables considered an important part of experimental design and refers to contributing factors that were eliminated to clarify the independent variable and a dependent variable nexus. The quantitative data was collected from World Development Indicators (WDI). This study applied a STATA version using panel data techniques for over 15 years from 2001 to 2015 and also used fixed effect (FE) and random effect (RE) estimations to address problems of heterogeneity. To mitigate the endogeneity problem, the generalized method of moments (GMM) was also used.

The results of this study were derived from the adoption of financial models applied in higher education institutions to test the financial sustainability indicators. Based on the RE and FE results, a one per cent increase in the current tertiary education expenditure caused about 0.19 and 0.18 per cent increase in FDI in the OECD economies. This positive and significant impact was higher when considering the problem of endogeneity by applying the GMM estimations. FDI grew by about 0.22 per cent when the CE increased by one percent. Meanwhile, there was a significant and negative relationship between FDI and the GETR variable for the FE results but this previous relationship was insignificant for RE estimations. The FDI in OECD economies decreased by about 0.0006 per cent when the GETR increased by 1 per cent. This negative effect became larger when applying the GMM estimations. Finally, the ULE results showed there was a positive and insignificant relationship between ULE and FDI for all estimators.

The management and analysis of the financial health indicators is necessary to evaluate educational activities but is not sufficient to achieve financial sustainability, which extends beyond the indicators of financial health to encompass factors such as student achievements; research and scientific output; community engagement; productive capacity; quality inputs; risk and infrastructure; and systems.

This study is considered one of the few existing studies examining the ways in which to achieve financial sustainability in higher education institutions using quantitative financial methods. Specifically, this study adopted Pecking order theory in its analysis of the financial sustainability indicators to clarify whether the financial sustainability indicators of higher education institutions lead to an improvement in the attractiveness of foreign investment in OECD countries in the long run. The findings contribute to the necessity of adopting internal financing sources in accordance with the Pecking Order theory to help achieve financial sustainability growth.