The factors behind the success of Swedish entrepreneurs : A quantitative approach of Swedish entrepreneurs, with an international comparison of the years 1800-2012.
Sammanfattning: The entrepreneur as an economic agent is highlighted as being important by several researchers, mainly through their contribution to innovation and economic development. Yet there is no universal definition of what is characterized as being an entrepreneur. The elements affecting success of entrepreneurs has previously not been outlined extensively, the aim of this study is therefore to determine the factors of entrepreneurial success in Sweden. This is made possible by adopting a statistical prosopography and reproducing the method used by Nuvolari, Toninelli & Vasta (2015). The method involves collecting qualitative information found in the Dictionary of Swedish National Biography and from a list of the most prominent entrepreneurs in Sweden, published by the newspaper Svenska Dagbladet. The qualitative information is then rewritten into quantitative data, which enables the use of factor analysis along with ordinary least square regressions. The standardized research allows for comparison of other studies involving entrepreneurs active in different countries. In addition, the model is expanded using a cluster analysis, allowing for identifying structures and patterns within the sample of entrepreneurs. The study concludes that entrepreneurial success appears to be a multi-dimensional phenomenon, also shown in other case studies adopting similar method. The level of innovation intensity proves to enhance success of all dimensions. While an entrepreneur’s educational level is shown to have a positive relationship with the economic success, it appeared to be negatively related to the aspect of social mobility. Moreover, involvement in politics is also shown to have a negative impact on economic success. Finally, the cluster analysis proved the existence of six different types of entrepreneurs within the sample.
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