Table 2 Descriptive statistics and...

Table 2

Descriptive statistics and correlation matrix

	Mean	S.D.	Min	Max	1	2	3	4	5	6	7	8	9
1.IE	4.63	3.50	0.96	20.66	1.00
2.FE	0.32	0.30	0.00	1.56	−0.26*	1.00
3.Population	3.95E+07	4.40E+07	2.46E+06	2.65E+08	0.37*	−0.28*	1.00
4.Unemployment	8.48	5.97	0.14	27.47	−0.25*	0.07	−0.09	1.00
5.GDP growth	1.44	2.73	−9.00	9.42	0.31*	−0.16*	0.16*	−0.23*	1.00
6.Innovation	8669	14291	17	67899	−0.16*	0.04	0.32*	−0.14*	−0.04	1.00
7.Primary education	104	5.25	94	125	0.23*	−0.07	0.06	0.02	0.10	−0.12	1.00
8.Startup registration procedure	6.94	2.94	2.00	17.00	0.34*	−0.51*	0.44*	−0.04	0.12	−0.02	0.24*	1.00
9.Time to register a property	28.83	29.62	1.00	150.00	−0.10	−0.12	0.09	−0.08	0.00	0.18*	−0.12	0.02	1.00
10.Trade in services	19.37	13.12	3.94	123.53	−0.20*	0.24*	−0.39*	−0.15*	0.01	−0.19*	−0.24*	−0.31*	−0.02
11.Manufacturing	15.03	5.23	5.79	33.11	0.25*	−0.34*	0.24*	−0.43*	0.33*	0.07	−0.15*	0.21*	0.08
12.Industry	26.22	7.45	13.68	69.76	0.41*	−0.21*	0.30*	−0.44*	0.31*	0.00	0.04	0.27*	−0.03
13.Year	2012	3.31	2006	2017	0.08	0.02	0.13*	0.05	0.01	0.02	0.05	−0.13*	−0.17*
14.National governance	0.40	0.88	−1.68	1.67	−0.58*	0.49*	−0.37*	−0.06	−0.25*	0.28*	−0.27*	−0.54*	−0.04
15.ISC	4.76	0.45	3.83	5.65	0.30*	−0.46*	0.30*	0.12	0.01	−0.12	0.24*	0.65*	−0.14*
16.IGC	5.65	0.32	4.94	6.52	0.39*	−0.18*	0.09	−0.01	0.23*	−0.22*	0.41*	0.24*	−0.05
17.UA	4.42	0.64	3.16	5.61	0.49*	−0.36*	0.36*	0.17*	0.16*	−0.29*	0.09	0.45*	0.06
18.ASS	3.62	0.50	2.66	5.14	0.22*	0.04	0.25*	−0.09	0.16*	−0.05	0.11	0.10	0.11
19.FO	5.40	0.43	4.33	6.20	0.51*	−0.40*	0.34*	−0.05	0.21*	−0.17*	0.11	0.44*	−0.09

	Mean	S.D.	Min	Max	1	2	3	4	5	6	7	8	9
1.IE	4.63	3.50	0.96	20.66	1.00
2.FE	0.32	0.30	0.00	1.56	−0.26*	1.00
3.Population	3.95E+07	4.40E+07	2.46E+06	2.65E+08	0.37*	−0.28*	1.00
4.Unemployment	8.48	5.97	0.14	27.47	−0.25*	0.07	−0.09	1.00
5.GDP growth	1.44	2.73	−9.00	9.42	0.31*	−0.16*	0.16*	−0.23*	1.00
6.Innovation	8669	14291	17	67899	−0.16*	0.04	0.32*	−0.14*	−0.04	1.00
7.Primary education	104	5.25	94	125	0.23*	−0.07	0.06	0.02	0.10	−0.12	1.00
8.Startup registration procedure	6.94	2.94	2.00	17.00	0.34*	−0.51*	0.44*	−0.04	0.12	−0.02	0.24*	1.00
9.Time to register a property	28.83	29.62	1.00	150.00	−0.10	−0.12	0.09	−0.08	0.00	0.18*	−0.12	0.02	1.00
10.Trade in services	19.37	13.12	3.94	123.53	−0.20*	0.24*	−0.39*	−0.15*	0.01	−0.19*	−0.24*	−0.31*	−0.02
11.Manufacturing	15.03	5.23	5.79	33.11	0.25*	−0.34*	0.24*	−0.43*	0.33*	0.07	−0.15*	0.21*	0.08
12.Industry	26.22	7.45	13.68	69.76	0.41*	−0.21*	0.30*	−0.44*	0.31*	0.00	0.04	0.27*	−0.03
13.Year	2012	3.31	2006	2017	0.08	0.02	0.13*	0.05	0.01	0.02	0.05	−0.13*	−0.17*
14.National governance	0.40	0.88	−1.68	1.67	−0.58*	0.49*	−0.37*	−0.06	−0.25*	0.28*	−0.27*	−0.54*	−0.04
15.ISC	4.76	0.45	3.83	5.65	0.30*	−0.46*	0.30*	0.12	0.01	−0.12	0.24*	0.65*	−0.14*
16.IGC	5.65	0.32	4.94	6.52	0.39*	−0.18*	0.09	−0.01	0.23*	−0.22*	0.41*	0.24*	−0.05
17.UA	4.42	0.64	3.16	5.61	0.49*	−0.36*	0.36*	0.17*	0.16*	−0.29*	0.09	0.45*	0.06
18.ASS	3.62	0.50	2.66	5.14	0.22*	0.04	0.25*	−0.09	0.16*	−0.05	0.11	0.10	0.11
19.FO	5.40	0.43	4.33	6.20	0.51*	−0.40*	0.34*	−0.05	0.21*	−0.17*	0.11	0.44*	−0.09

	10	11	12	13	14	15	16	17	18	19
1.IE
2.FE
3.Population
4.Unemployment
5.GDP growth
6.Innovation
7.Primary education
8.Startup registration procedure
9.Time to register a property
10.Trade in services	1.00
11.Manufacturing	0.31*	1.00
12.Industry	0.01	0.54*	1.00
13.Year	0.08	−0.05	0.05	1.00
14.National governance	0.38*	−0.17*	−0.37*	−0.19*	1.00
15.ISC	−0.23*	0.08	0.09	0.07	−0.54*	1.00
16.IGC	−0.31*	0.01	0.19*	0.06	−0.54*	0.33*	1.00
17.UA	−0.30*	0.17*	0.33*	0.15*	−0.87*	0.53*	0.59*	1.00
18.ASS	−0.08	0.17*	0.43*	0.14*	−0.22*	−0.12	0.44*	0.32*	1.00
19.FO	−0.30*	0.35*	0.47*	0.14*	−0.77*	0.57*	0.56*	0.78*	0.33*	1.00

Note(s): IE = informal entrepreneurship, FE = formal entrepreneurship, NGov = national governance, ISC = institutional collectivism, IGC = in-group collectivism, UA = uncertainty avoidance, ASS = assertiveness, FO = future orientation

36 countries, N = 236, *p < 0.05

Source(s): Authors’ own work

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