Search

Purpose The purpose of this paper is to understand the relationship between foreign direct investment (FDI) and cities and how the relationship between multinational enterprise (MNEs) and local firms facilitates regional cleantech innovation. Design/methodology/approach Using a combination of social network analysis, regression analysis and interview analysis, the authors map and analyze a cleantech cluster to investigate the relationship between MNEs and local firms and the resulting effects on cleantech innovation. Findings The findings of the paper indicate that FDI plays a crucial role in cities and their local clusters by acting as a broker between a diverse set of actors: firms, institutions, universities, financial and other intermediaries. Additionally, connectedness to MNEs improves local firms’ innovation. Research limitations/implications This study is not free of limitations, mainly, because of the aspects that the analysis is based on one city and one cleantech hub. Further research could verify whether the findings of this paper hold in other cities and industries. Practical implications The findings, elucidating the connection between MNEs and local firms, as well as MNEs being important brokers in the local system, and the resulting impact, will help policymakers to take appropriate actions and support the local cleantech innovation. It is important to not only attract high-quality FDI into local clusters, but also to create and support collaborations between foreign firms and local actors, because colocation does not automatically leads to positive spillovers and a lot depends on how MNEs are integrated into the local milieu. Social implications The present paper argues that FDI plays an important role in local cleantech innovation and it is important to integrate foreign firms in local social networks. Originality/value The authors analyze FDI patterns in an emerging industry at the city and local cluster level using a unique database containing the information on relationships between MNEs and local firms, as well as interview data.

Purpose This paper aims to investigate the evolution of the phenomenon of industrial districts and explores the broader regional innovation systems that consist of multiple industrial districts. Design/methodology/approach This paper uses a combination of network analysis and patent analysis techniques to analyze the social structure of Montreal tech agglomeration and its innovation. Findings The findings indicate that the cores of modern regional innovation systems are composed of densely collaborating organizations belonging to different industrial clusters, and these organizations are responsible for the most radical innovations. The analysis also reveals the importance of brokers and international ties in generating radical innovations. Research limitations/implications The findings of our paper extend the initial concept of industrial district and call for the need to no longer focus exclusively on individual clusters, but to take into consideration broader competitive regional innovation systems that are composed of multiple clusters. The current trend of the core of such systems to be composed of organizations from multiple clusters indicates that the traditional understanding of industrial district confined to the borders of specific industry is no longer relevant and there is a need to revise the conceptualization of clusters and further analyze the social fabric of broader regional innovation systems. In future, such intense collaboration within the core of the regional innovation system network may give rise to new industrial and technological configurations. It is important to further investigate these structures, because they have important implications for innovation and are responsible for new innovation patterns. Practical implications To boost innovation in specific localities, policymakers could encourage collaboration between different clusters and support interdisciplinary projects and programs. Those would help the local community generate radical innovations. Social implications Using this research, local policymakers could help local companies understand and explore international markets, as well as focus on attracting multinational firms that are leaders in their respective fields. Finally, local policymakers could further support important cluster intermediaries Originality/value This paper offers original contributions to the studies of industrial districts as it explores a competitive ecosystem composed of multiple industrial districts and analyzes how these industrial districts interact and where the most innovative solutions lie in the social fabric of this big ecosystem.

A central challenge in current cluster policy discussions is how to build innovative clusters that are resilient to external shocks. We examine the Montréal aerospace industry to explore cluster resilience. The case is interesting since it recently experienced two industrial shocks: Boeing 737 MAX crashes in 2018 and 2019 and Bombardier’s sell-off of its flagship CSeries in 2020. Surprisingly, in the wake of the two radical disruptions, the cluster fared quite well in terms of employment and export performance. Using the method of abductive reasoning to find a-matter-of-course explanation of the surprising case, we observe that a low speed of aircraft development and production – a low industry clockspeed – stabilizes local production and knowledge networks through five mechanisms: long-term contracting, R&D cost sharing, production planning, social networking, and technology solidifying. Inspired from the case, we theoretically explore how fast (e. g., fashion and cellphones or the hare) and low (e. g., shipbuilding and aerospace or the tortoise) industry clockspeeds lead to different configurations of firm relations and are thus associated with different types of economic resilience.

Purpose This study aims to systematically review the economic complexity literature to advance the knowledge on its contribution to building regional competitiveness. Design/methodology/approach In this study, we did a systematic review of 111 relevant papers. In this regard, we did a thematic analysis on all the collected papers, which led to a two-level processed approach. In the first level, the contributions of the reviewed articles have been classified into three main streams. In the second level, the findings under each contribution category are analyzed and explained. This approach led to a thematic network demonstrating economic complexity and the dynamics of regional competitiveness and a set of managerial and policy implications. We followed a multiple processed approach for the systematic review of 95 papers that reveals considerable contributions in three categories, including measurement techniques, criticisms and exploratory studies. Findings Despite some critiques and the undertaken evolution in measurement techniques of complexity, economic complexity has become a well-known method mainly for regions' competitiveness dynamics. Our review demonstrates a nested network of economic complexity dynamics that drives policy advice concerning countries' status in their development path. The provided set of policies includes guidelines for underdeveloped and developing countries and general policy implications, applicable for all regional contexts for building competitiveness dynamics. Originality/value This research contributes to the literature on competitiveness from the window of economic complexity. The study allows a deep understanding of regions' productive structure role in their development and competitiveness. A set of policies for building regional competitiveness is provided concerning the study's findings. The literature gaps are identified, and future research ideas are provided for using economic complexity methodologically and logically to boost regional competitiveness.

Researchers have studied foreign direct investment (FDI) from various perspectives, and noted the motives of FDI depend predominantly on disadvantages in home countries or advantages in host countries. However, little is known about how investors avail themselves of such advantages. The purpose of this chapter is to offer guidelines to investors to make effective FDI decisions and maintain sustainable international expansions in the post-pandemic era. Via a conceptual review of the extant literature, the authors elaborate on the motives of FDI from the perspective of the capacities of investors and provide a nuanced understanding of how they can make better investment decisions based on both the lacks and capacities. The authors develop a framework elucidating that the motives of FDI can be determined by a firm's level of technology and absorptive capacity. The framework will help investors to find cross-border partners to collaborate with, increase resilience, and deal with post-pandemic recovery.

Patent and Inventor list

Medical tourism has become one of the fastest-growing service industries in the 21st century. The purpose of this chapter is to advance the idea that the growth of medical tourism is influenced not only by the innovation in medical technology but also by the overall innovation environment in a country. Conducting a fixed effect regression analysis, the authors find empirical evidence in support of the argument. Because of the inter-sectoral nature of the medical tourism industry, the findings imply a plethora of opportunities for all related industries to realize the full potential of the resources available for innovation in a country. The most important implication of the findings is that strengthening the innovation environment in a country is momentous for sustainable medical tourism. The findings show a way to achieve sustainable medical tourism by integrating different stakeholders through collaboration and innovation.

This article contributes to the growing literature on a broader understanding of new industry path creation shaped by regional preconditions as well as multi-actor and multi-scale interventions. Us...

We developed a theoretical framework to explore how firms agglomerate and develop linkages within and across co-located clusters in a competitive urban economy. We applied our framework to Montreal, where we analyzed relationships among its aerospace, information technology and artificial intelligence firms. Using network community structure analysis, we show that firm linkages largely agglomerate within industrial lines. However, there are important nuances. Clusters themselves are not homogeneous and firms specializing in similar or complementary technological subfields develop denser connections with each other. Moreover, technological similarity and complementarity, as well as a common business context, force some groups of firms to develop linkages across clusters, creating significant overlap across certain industries.

We use patent big data and apply a combination of network analysis techniques to explore the social structure of the Montreal tech community and its embeddedness in the global innovation landscape. In particular, we focus on the smart cleantech segment. In doing so, we analyze the effect of inventor collaborations on innovations and the emergence of smart clean technologies and smart sustainable solutions in Montreal and their global impact. Our analysis reveals the importance of both local and international ties for the general development of innovations in Montreal’s competitive urban economy, with a stronger impact of international ties, in generating smart cleantech innovations. We discuss the implications of our findings for smart cleantech and cleantech clusters and for further development of tech agglomerations.

We use community detection analysis to investigate the structure of Bengaluru's ICT cluster's inter-organizational network during the period 2015–2017. Building on the knowledge sourcing literature, we conjecture that cluster firms primarily build knowledge-seeking horizontal linkages with technologically similar companies, and that this splits the network into multiple technological communities within which firms are tightly connected, but between which linkages are scarce. We further propose that community-spanning firms which build horizontal linkages that bridge technological communities are more likely to conduct radical innovation than their peers. We finally argue that no relation exists between technological proximity and community formation in the network of vertical buyer-supplier relations. Using a voltage-based algorithm for community discovery, we draw empirical support for these predictions. We discuss the implications of our findings for Bengaluru's upgrading potential.

To what extent do independence‐seeking political parties across Europe appeal to the European Union (EU)? What accounts for differences in these parties' communication levels? In accordance with the literature, we expect that such parties would bypass their host states and seek support from the EU for their nationalist causes, while the EU itself also offers institutional opportunities further enabling parties to solicit assistance, even if it does not always deliver what these parties want. To explore this argument, we conduct an online search for documents and other texts in which secessionist political parties directly and indirectly appeal to the EU and analyze them with social network tools. The resultant network is characterized by multiple parties communicating to the EU but to different degrees. We also find that moderate political ideology on the left–right spectrum, constituent support, and competition in the secessionist movement positively and significantly correlate with higher intensity of online communication.

How is firm innovation affected by location in an innovation cluster? How does the interplay of firm and cluster characteristics matter? We examine these questions by conducting an empirical analys...

This paper addresses the mid-term electricity load forecasting problem. Solving this problem is necessary for power system operation and planning as well as for negotiating forward contracts in deregulated energy markets. We show that our proposed deep neural network modeling approach based on the deep neural architecture is effective at solving the mid-term electricity load forecasting problem. Proposed neural network has high expressive power to solve non-linear stochastic forecasting problems with time series including trends, seasonality and significant random fluctuations. At the same time, it is simple to implement and train, it does not require signal preprocessing, and it is equipped with a forecast bias reduction mechanism. We compare our approach against ten baseline methods, including classical statistical methods, machine learning and hybrid approaches, on 35 monthly electricity demand time series for European countries. The empirical study shows that proposed neural network clearly outperforms all competitors in terms of both accuracy and forecast bias. Code is available here: https://github.com/boreshkinai/nbeats-midterm .

International audience; This exploratory study uncovers how the economic complexity of local production and global connectivity contribute to a subnational region's competitiveness and sustainable development. Addressing the knowledge generation and exchange processes orchestrated by global value chains, we demonstrate that the composition of a subnational region's product space network does not necessarily replicate the same configuration of the country‐level network. By applying social network analysis (SNA) techniques, we analyze the structural features of Quebec's product space network and compare the complexity indices of the province's advantageous sectors with those of Canada. Finally, we conclude with policy insights for sustainable development and suggest future research directions.; Cette recherche exploratoire découvre comment la complexité économique de la production locale et de la connectivité globale contribuent à la compétitivité régionale au niveau sous‐national ainsi qu'au développement durable. En adressant les processus de génération et d'échange de connaissances, qui sont orchestrés par les chaînes de valeur mondiales, nous démontrons que la composition du réseau d'espace produit d'une région sous‐nationale ne réplique pas nécessairement la même configuration que celui du niveau national. En appliquant les techniques de l'analyse des réseaux sociaux (ARS), nous analysons les caractéristiques structurelles du réseau d'espace produit du Québec et comparons les indices de complexité des secteurs avantageux de la province avec ceux du Canada. Enfin, nous concluons avec des aperçus sur les politiques au sujet du développement durable et proposons des directions de recherche à venir.

PurposeThrough utilizing social capital as an overarching concept, the purpose of this article is to investigate cross-country rates of business formation in the formal vs informal sectors. Plus, empirically assess the impact of social capital constructs on the national rates of entrepreneurship.Design/methodology/approachAdopting a regression-oriented methodology, partial least squares (PLS), the study used a sample comprising 50 nations. National rates of registered and nonregistered business creation were utilized as endogenous variables. To determine the indigenous variables, constructs of social capital were measured which is consistent with the World Value Survey (WWS).FindingsThe results of this study show that in the formal and the informal sectors, social networking enables business creation with varying levels of impact. It establishes that institutional trust has a negative effect on informal business creation and a positive effect on business registration; interpersonal trust drives entrepreneurship in the informal sector but has less impact on business registration; norms of trustworthiness are related to business registration than informal business creation.Practical implicationsThe findings of this research have theoretical and practical implications. They stimulate academic debate on the application of social capital constructs at the national level. The indications that social capital promotes business formation in both the informal and formal sectors can influence entrepreneurship policy development in many countries.Originality/valueThe originality of the results of this study lies in how it conceptualizes social capital as having direct impact on business creation in the informal vs formal sector. Thus, the findings elevated the conceptualization of social capital to the national level thereby enhancing knowledge on the entrepreneurship process as well as developmental economics.

Do different types of innovation require distinct kinds of external knowledge search strategies? This paper explores this question using an original innovation survey of 385 KIBS firms in Ontario (Canada). Applying ordered regression analysis, we show that KIBS which conduct marketing innovation have higher degrees of external knowledge sourcing than those that engage in other types of innovation. KIBS that conduct product innovation have higher degrees of external partnering than those that focus more intensively on other types of innovation.

In today’s knowledge economy, clusters are a key driver of a country’s competitiveness. Yet a cluster’s technological base is now more than ever influenced by constituent firms’ actions to tap into distant knowledge sources. Drawing on a social network perspective, and distinguishing between horizontal versus vertical organization-based linkages, we explore the effects of a cluster’s connectedness to foreign locations on its innovation performance. We show that improvements in horizontal and vertical connectedness both stimulate a cluster’s innovation performance, but that their relative effects vary across cluster types. Innovation in knowledge-intensive clusters disproportionately benefits from enhancements in their constituent firms’ horizontal connectedness to foreign knowledge hotspots. Innovation in labor-intensive clusters mostly gains from stronger vertical connections by their firms to central value chain players abroad. We discuss the implications of our findings for research on global knowledge sourcing and cluster upgrading.

While international business and economics literature once viewed companies as atomistic, disconnected units basing decisions solely on market incentives, recent studies have highlighted the import...

How do social networks matter for professional success? Are they a source of information and support, both of which could be beneficial? We provide an answer using a unique data set of foreign athl...

It is widely acknowledged that an small and medium-sized enterprise's (SME's) embeddedness in an inter-organizational network affects its performance, yet little is known which factors drive an SME's network position. In this paper, we develop several theoretical hypotheses relating an SME's size, age and partner diversity to its position in an inter-organizational network. Then, we test the hypotheses by conducting multiple regression analysis on a hand-collected dataset of inter-organizational linkages in China's aerospace industry. We find empirical support that size and egocentric diversity of direct partners are positively related to an SME's centrality in the inter-organizational network. In contrast, we do not find evidence that an SME's age is positively related to its network centrality. Finally, we discuss the implications of our findings for SME strategy.

Purpose This paper aims to explore the effects of multiple external sources of knowledge and of the use of winemaker consultants on innovation in the Canadian wine industry. Design/methodology/approach The data for the study are taken from an original survey of wine firms in Canada covering the 2007-2009 period. The survey was carried out by computer-assisted telephone interviews, and it was addressed to winery firms that are engaged in growing grapes and producing wine. Findings The results show that the use of winemaker consultants positively affects all forms of innovation. At the same, as far as external knowledge sources are concerned, marketing sources positively affect all types of innovation, while research sources and general sources have a positive influence on particular forms of innovation. The results also show that winemaker consultants interact with other knowledge sources. Nevertheless, there are important nuances with regard to which type of knowledge sources is more compatible with the use of winemaker consultants for which type of innovation. Originality/value To date, there is no empirical evidence of the extent to which the use of external winemaker consultants and external knowledge sources interact together and what are their impacts on the introduction of different forms of innovation.

Open source software (OSS) development as an inexpensive process to develop software threatens proprietary software business strategies. Providing business strategy to benefit from volunteer developers for the purpose of contributing to existing projects, as well as initiating new OSS projects is of utmost significance for companies in that industry. Therefore, it is important to figure out how groups of volunteer developers are formed as new developers join existing projects, and it is even more important to investigate what causes these developers to initiate new projects. The authors investigate network structure as a causal factor for both new project initiation within a group (representing group innovation) as well as new developers joining existing projects within a group (representing group growth). The authors develop four hypotheses:1. Intra-group coupling has a positive impact on group growth,2. Inter-group coupling has a positive impact on group innovation,3. Inter-group structural hole has a positive impact on group innovation,4. There is a trade-off between the effects of inter-group structural hole and inter-group coupling on group innovation.The authors test these four hypotheses using data from OSS. Developers contributing to project tasks in groups other than their own can explore novel ideas for new project creation, because they can benefit from sharing knowledge, whereas developers contributing to project tasks inside their own group exploit ideas to improve those existing projects with better inside-group search possibility; and this demands more developers to join those group projects.

Alors que la vaste majorite des etudes scientifiques insistent sur l’importance d’agir pour lutter contre les changements climatiques, il devient essentiel d’adopter des politiques publiques innovantes favorisant le developpement durable. Les politiques publiques doivent aujourd’hui s’appuyer sur une conception du developpement economique s’inscrivant dans une perspective a long terme et tenant compte des contraintes environnementales et sociales. Le Quebec peut deja se targuer de faire bonne figure en la matiere, dans le contexte nord-americain. Il fait partie du marche du carbone, qui vise la reduction des emissions de gaz a effet de serre, et peut compter sur une importante production d’energie propre grâce a l’hydroelectricite. Le Quebec saura-t-il tirer profit de sa situation enviable pour reussir le virage vers une economie plus respectueuse de l’environnement?? Avec la contribution de plus de vingt experts dans leurs domaines respectifs, la huitieme edition du Quebec economique offre un tour d’horizon de ces questions en explorant notamment les enjeux sociaux et internationaux du developpement durable, la croissance et l’innovation vertes, la transition energetique, et les politiques publiques favorisant le developpement durable.

Technological advancement is an important instrument for economic and technological development, but most countries receive the benefits of innovation and new technologies through technology transfer. Previous studies typically consider direct linkages in order to understand technological advancement without paying much attention to indirect linkages, such as the inter-connectivity of the recipients of Foreign Direct Investment (FDI). To understand the relationship between FDI and technological advancement and whether recipients’ absorptive capacity matters, we model global FDI networks for the period 2009–2016. We find empirical evidence that the global FDI network has a core-periphery structure, and that core countries are more technologically developed than peripheral countries. We also find empirical evidence that a country’s centrality of position in the global FDI network is positively associated with the technological advancement of a country, and that the absorptive capacity of a country can moderate this relationship. Regression analyses using instrumental variable estimators confirm the robustness of our findings. The most striking finding of our research is the strong moderation effect of knowledge intensity, a constituent of absorptive capacity. This finding provides a nuanced understanding of absorptive capacity, demonstrating the ways a country can benefit from FDI by reshaping the factors related to absorptive capacity.

Some authors in the literature have addressed knowledge transfer via weak ties between organization’s units which are themselves strongly tied inside (e.g. Hansen, 1999). Some others have investigated knowledge management among open-source-software (OSS) developers and discussed factors influencing knowledge transfer within development teams (e.g. Joshi and Sarker, 2006). In the domain of open source software (OSS) communities, more companies are now attempting to establish relationships to benefit from these potential value-creating communities; and project managers could in fact target different goals within software development teams including knowledge transfer within and between teams. We step forward to distinguish knowledge transfer within groups as opposed to knowledge transfer between groups; where relevant projects are bundled into separate strongly intra-connected groups. In knowledge management literature there is a trade-off between sparse network structures (Burt, 2000, 2002) versus dense network structures (Walker et al., 1997; Coleman, 1988). It is argued that the former facilitates the diffusion and generation of ideas among groups, while the latter affects the implementation of idea within each dense group. To our best knowledge, there has been no study to investigate the relationship between dense and sparse network structures. We propose that knowledge transfer within dense groups has a positive influence on knowledge transfer between sparse groups , in that intragroup density, group size, developers centrality and betweenness could impact intergroup coupling. To prove our hypothesis, we use a complex network of open source software (OSS) as the domain of interest, where developers represent nodes and two developers contributing to a project task represent a network tie. Developers contributing to tasks in groups other than their own can explore novel ideas via sharing knowledge, whereas developers contributing to tasks inside groups exploit ideas to improve those projects. We investigate the idea both analytically and empirically within 4 months, 8 months and 1 year lagged time, and finally show that intragroup density has a positive whereas developers’ centrality has a negative influence on intergroup coupling.

Networks of civil society organizations are a feature of the Eastern Partnership and the Union for the Mediterranean, the two strategies of the European Union (EU) for relations with the countries of the Neighborhood. We examine these structures as instances of interorganizational networks. We employ social network analysis and multiple regression to test empirically a number of hypotheses about these networks. Our results show that the networks are highly centralized around EU institutions, but we also find that gradually relations among all participants become more horizontal and cooperative, that EU institutions become less dominant over time, and that organizations from neighboring countries gain centrality. We also find that interorganizational cooperation is stronger in the southern than in the eastern Neighborhood.

Using social network analysis and logistic regression, we analyse how inter-organizational networks facilitate co-operation and the transfer of best practice from EU-based organizations to organizations in the European Neighbourhood Policy (ENP) countries. More specifically, we examine networks of employer and employee organizations that participate in the Civil Society Forum of the Eastern Partnership and in TRESMED, a Mediterranean project. We find that networks are successful at disseminating principles and good practices of economic and social partnership, but also that dissemination proceeds slowly. In addition, we detect more co-operation among employer than among employee organizations, which reflects collective action difficulties facing organized labour more generally. Last, we find that inter-organizational co-operation is more intense in the Southern than in the Eastern neighbourhood, which is explained by contextual differences as well as by the EU's longer-term engagement with the Mediterranean than with the countries on its Eastern frontier.

This study examines marketing cooperation between firms co-localized in an agribusiness cluster, using the proximity perspective developed in economic geography. After a review of the relevant literature, we develop a scale to measure both interfirm marketing cooperation and different dimensions of proximity (cognitive, geographical, institutional, organizational and social), and test the interrelationships among these elements within the context of Chile, an emerging economy. The findings support the conclusion that interfirm marketing cooperation in the chosen agribusiness cluster is mainly dependent on social proximity. Moreover, contrary to what is found in the literature on other types of cooperation, geographical proximity is not particularly relevant.

This article explores the effects of post-communist transition and European enlargement on intergenerational politico-economic values in three groups of countries: Central and Eastern European countries that became European Union members; countries with EU membership prospects; and those that have no membership prospects, at least in the foreseeable future. The analysis indicates considerable differences between these three groups of countries and shows that over time Europeanization served as an intra-cohort mechanism of social change: it smoothed over intergenerational differences and led to a trend of convergence in values between new Eastern members of the EU and Western Europe. Europeanization also appears to have some harmonizing power on intergenerational differences in countries with EU membership prospects. At the same time, the rough post-communist transition process and the lack of consolidation mechanisms created considerable intergenerational differences in European countries without EU membership prospects, as revealed by the dominance of cohort replacement mechanism in these countries.

In recent years, preferential trade agreements (PTAs), free trade agreements (FTAs) in particular, have proliferated while WTO negotiations have stagnated. This paper contributes to the literature on trade liberalisation and the agricultural sector by analysing the effects of FTAs on the competitiveness of the dairy sector across 76 countries and over a 20-year period from 1990 to 2009. With a longitudinal econometric model, the results demonstrate that when a country has a revealed comparative advantage in the dairy sector, FTAs positively influence several indicators of competitiveness in the dairy sector, such as production, market share and trade balance. The results also indicate that multilateral FTAs are more beneficial than bilateral FTAs. There is strong empirical evidence that FTAs are more beneficial to developed countries than to developing countries. There is no statistical evidence to support the hypothesis about a relationship between FTAs and farm-gate price.

The European Union (EU) encourages cross-border inter-firm networks as a part of its external governance approach. What is the effect of these networks? Do they lead to regulatory convergence around EU standards in the eastern neighbourhood? Using original survey data, as well as data on regional enterprise-related regulations, this article argues that the density of interaction among private actors and between private actors and regional governments in such networks create conditions for private actors to lobby for regulatory change, resulting in approximations to EU standards. By testing the transnational mechanisms of policy change, the article points to the possibility of integration, even in the absence of membership prospects. However, the findings also indicate that the extent of regulatory change is conditioned by cross-border network structure as well as the institutional distance between the partnering regions.

This paper examines socio-psychological determinants of entrepreneurial motivation. It identifies four higher-order socio-psychological factors—locus of control, social cynicism, the traditionalism-modernity continuum and the survival-self-actualization continuum—and conducts a multi-level analysis of their effects on the probability of being an opportunity entrepreneur in a given society while controlling for the levels of necessity entrepreneurship and other important factors. Our model also includes varying levels of growth expectations by the focal entrepreneur. The results of our study provide interesting new insights and suggest that socio-psychological factors are significant predictors of entrepreneurial motivation. Moreover, the effects of socio-psychological factors on opportunity entrepreneurship vary depending on growth expectations: the effects are the strongest on high-growth-oriented entrepreneurship.