Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship

Rubilar-Torrealba, Rolando; Chahuán-Jiménez, Karime; de la Fuente-Mella, Hanns; Marzo-Navarro, Mercedes

doi:10.3390/su14137573

Open AccessArticle

Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship

by

Rolando Rubilar-Torrealba

^1,†

,

Karime Chahuán-Jiménez

^2,*,†

,

Hanns de la Fuente-Mella

^3,†

and

Mercedes Marzo-Navarro

^4,†

¹

Departamento de Ciencias Económicas y Administrativas, Facultad de Ciencias Jurídicas, Económicas y Administrativas, Universidad Católica de Temuco, Temuco 4810302, Chile

²

Centro de Investigación en Negocios y Gestión Empresarial, Escuela de Auditoría, Facultad de Ciencias Económicas y Administrativas, Universidad de Valparaíso, Valparaíso 2362735, Chile

³

Escuela de Comercio, Facultad de Ciencias Económicas y Administrativas, Pontificia Universidad Católica de Valparaíso, Valparaíso 2340031, Chile

⁴

Facultad de Economía y Empresa, Universidad de Zaragoza, 50005 Zaragoza, Spain

^*

Author to whom correspondence should be addressed.

^†

These authors contributed equally to this work.

Sustainability 2022, 14(13), 7573; https://doi.org/10.3390/su14137573

Submission received: 10 May 2022 / Revised: 17 June 2022 / Accepted: 17 June 2022 / Published: 21 June 2022

(This article belongs to the Special Issue Feature Papers in Economic and Business Aspects of Sustainability)

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Abstract

The purpose of this research is to develop a theoretical model of the entrepreneurial decision of individuals and to measure the effect of a group of variables on this decision. The effects of variables such as income, age, gender, level of education, and entrepreneurial skills are studied. The results show that innovation and entrepreneurship are linked to the personal characteristics of individuals and the social context in which they develop, thus making it possible to guide social policies for the development of the economy. Logit and probit functions were used to measure the effect of the variables on the entrepreneurship phenomenon. The main findings of this research indicate that the variables with a significant impact on the success of entrepreneurship and innovation are income, age, gender, skill, and the interaction between the opportunity and education variables.

Keywords: entrepreneurship; innovation; country development; data science; econometric modeling

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MDPI and ACS Style

Rubilar-Torrealba, R.; Chahuán-Jiménez, K.; de la Fuente-Mella, H.; Marzo-Navarro, M. Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship. Sustainability 2022, 14, 7573. https://doi.org/10.3390/su14137573

AMA Style

Rubilar-Torrealba R, Chahuán-Jiménez K, de la Fuente-Mella H, Marzo-Navarro M. Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship. Sustainability. 2022; 14(13):7573. https://doi.org/10.3390/su14137573

Chicago/Turabian Style

Rubilar-Torrealba, Rolando, Karime Chahuán-Jiménez, Hanns de la Fuente-Mella, and Mercedes Marzo-Navarro. 2022. "Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship" Sustainability 14, no. 13: 7573. https://doi.org/10.3390/su14137573

APA Style

Rubilar-Torrealba, R., Chahuán-Jiménez, K., de la Fuente-Mella, H., & Marzo-Navarro, M. (2022). Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship. Sustainability, 14(13), 7573. https://doi.org/10.3390/su14137573

Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. See further details here.

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Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship

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