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The aim of the paper is to analyse opportunity entrepreneurship based on determining factors that originate from three fields: cultural traits, transaction characteristic, and economic institution characteristics.
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It presents the effect of cultural traits, transaction characteristics and economic institution characteristics on opportunity entrepreneurship.
and transaction characteristics (risk levels, time required for start-ups, corruption levels, literacy levels, etc).
Moreover, differences in transaction characteristics cannot explain the disparities in margins.
Moreover, the effect of enhanced transaction characteristics and economic institutions is conducive to opportunity entrepreneurship.
Figure 1 Correlation between opportunity entrepreneurship (OPP) and the transaction characteristics and economic institutions characteristics component (TI).
Thus, is it cultural traits, transaction characteristics and economic institutions that influence entrepreneurship, or does entrepreneurship itself affect them?
(c) Opportunity entrepreneurship (where to discover opportunities theories) is a by-product of cultural traits, institution settings and transaction characteristics.
(d) In the medium- (and short-) term, cultural traits, institution settings and transaction characteristics are exogenous to opportunity entrepreneurship.
From the variables indicating transaction characteristics and economic institutions characteristics, one PC emerges (TI) that explains 58.86% of the total variance and presents an initial eigenvalue of 3.53.
The formation of TI fully confirms the theoretically expected effect of the variables of the transaction characteristics and the economic institution characteristics on opportunity entrepreneurship.
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