The impact of entrepreneurial education and educational attainment on entrepreneurial activity: evidence from selected high-income economies
Abstract
Entrepreneurship has become an important tool for job creation, economic growth, improvements in productivity and production, and innovation. Therefore, key country and individual-level factors driving entrepreneurship have been explored in the related literature. Furthermore, entrepreneurial education has been extensively scheduled in primary, secondary, and tertiary education programs by many countries. This study explores the impact of entrepreneurial education at primary and secondary education levels, higher education levels, and general education levels on early-stage entrepreneurial activity in selected high-income countries over the period of 2003 to 2018, through panel cointegration and causality analyses. Causality analysis revealed that entrepreneurial education and general education had a significant impact on earlystage entrepreneurial activity in the short run. The cointegration analysis disclosed that both entrepreneurial education at basic and higher education levels, respectively general education level positively affected the early-stage entrepreneurial activity in the long run.
Keyword : entrepreneurial activity, entrepreneurial education, general education level, causality analysis, cointegration analysis, panel data
How to Cite
Bayar, Y., Sart, G., Gavriletea, M. D., & Coroş, M. M. (2022). The impact of entrepreneurial education and educational attainment on entrepreneurial activity: evidence from selected high-income economies. Journal of Business Economics and Management, 23(6), 1257–1279. https://doi.org/10.3846/jbem.2022.17840
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Matlay, H. (2008). The impact of entrepreneurship education on entrepreneurial outcomes. Journal of Small Business and Enterprise Development, 15(2), 382–396. https://doi.org/10.1108/14626000810871745
Méndez-Picazo, M., Galindo-Martín, M., & Castaño-Martínez, M. (2021). Effects of sociocultural and economic factors on social entrepreneurship and sustainable development. Journal of Innovation & Knowledge, 6(2), 69–77. https://doi.org/10.1016/j.jik.2020.06.001
Michelacci, C., & Schivardi, F. (2020). Are they all like Bill, Mark, and Steve? The education premium for entrepreneurs. Labour Economics, 67, 101933. https://doi.org/10.1016/j.labeco.2020.101933
Mukhtar, S., Wardana, L., Wibowo, A., & Narmaditya, B. (2021). Does entrepreneurship education and culture promote students’ entrepreneurial inten-tion? The mediating role of entrepreneurial mindset. Cogent Education, 8(1). https://doi.org/10.1080/2331186X.2021.1918849
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Nabi, G., Walmsley, A., Liñan, F., Akhtar, I., & Neame, C. (2018). Does entrepreneurship education in the first year of higher education develop entre-preneurial intentions? The role of learning and inspiration. Studies in Higher Education, 11(3). https://doi.org/10.1080/03075079.2016.1177716
Nawaser, K., Khaksar, S., Shakhsian, F., & Jahanshahi, A. (2011). Motivational and legal barriers of entrepreneurship development. International Journal of Business and Management, 6(11). https://doi.org/10.5539/ijbm.v6n11p112
Nguyen, T., Nguyen, L., Phan, H., & Vu, A. (2021). Impact of entrepreneurship extracurricular activities and inspiration on entrepreneurial intention: Mediator and moderator effect. SAGE Open, 11(3). https://doi.org/10.1177/21582440211032174
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Pesaran, M. (2004). General diagnostic tests for cross section dependence in panels (CESifo Working Paper). https://doi.org/10.2139/ssrn.572504
Pesaran, M. (2007). A simple panel unit root test in the presence of cross-section dependence. Journal of Applied Econometrics, 22(2), 265–312. https://doi.org/10.1002/jae.951
Pesaran, M., & Yamagata, T. (2008). Testing slope homogeneity in large panels. Journal of Econometrics, 142(1), 50–93. https://doi.org/10.1016/j.jeconom.2007.05.010
Pesaran, M., Ullah, A., & Yamagata, T. (2008). Bias-adjusted LM test of error cross-section independence. Econometrics Journal, 11(1), 105–127. https://doi.org/10.1111/j.1368-423X.2007.00227.x
QAA. (2018). Enterprise and entrepreneurship education: Guidance for UK higher education. Quality Assurance Agency for Higher Education. https://www.qaa.ac.uk/docs/qaas/enhancement-and-development/enterprise-and-entrpreneurship-education-2018.pdf?sfvrsn=15f1f981_8
Racolța-Paina, N. D. (2016). The European single market: Opportunities for entrepreneurs. The Case of Erasmus for young entrepreneurs. Studia Eu-ropaea, 61(4), 21–41.
Rusu, V., & Dornean, A. (2019). The quality of entrepreneurial activity and economic competitiveness in European Union countries: A panel data ap-proach. Administrative Sciences, 9(2), 35. https://doi.org/10.3390/admsci9020035
Silva, A. N., & Nobre, N. (2018). Students’ entrepreneurial propensity: An exploratory study from a Portuguese polytechnic school. Journal of Entre-preneurship & Organization Management, 7(1), 1–6.
Solomon, G. (2007). An examination of entrepreneurship education in the United States. Journal of Small Business and Enterprise Development, 14(2), 168–182. https://doi.org/10.1108/14626000710746637
The Princeton Review Staff. (2014, September 15). The oldest entrepreneurship programs in America. Entrepreneur. https://www.entrepreneur.com/article/237387
Stamboulis, Y., & Barlas, A. (2014). Entrepreneurship education impact on student attitudes. The International Journal of Management Education, 12, 365–373. https://doi.org/10.1016/j.ijme.2014.07.001
Stoica, O., Roman, A., & Rusu, V. D. (2020). The nexus between entrepreneurship and economic Growth: A comparative analysis on groups of coun-tries. Sustainability, 12(3), 1186. https://doi.org/10.3390/su12031186
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