Do Financial Crises Moderate Entrepreneurial Recipes? A Comparative Fuzzy Analysis

ABSTRACT

This study performs a fuzzy set qualitative comparative analysis (fsQCA) on entrepreneurial recipes. The research focuses on the moderating role of the 2007 financial crisis on the antecedents of entrepreneurship. Standard regressions analysis proves insufficient to uncover asymmetrical and complex relationships that explain the effect of credit constraints on new business. Empirical results on longitudinal data suggest that the crisis moderated entrepreneurial recipes in Spain. This research contributes to QCA analysis by studying moderation effects on time-series data.

KEYWORDS:

• crisis,
• entrepreneurship,
• fsQCA,
• longitudinal

Notes

1. Software for QCA also includes Charles Ragin and Sean Davey's (2009) fs/QCA and Lasse Cronqvist's (2011) Tosmana. A particularly interesting alternative is the QCA package for the R environment, the only existing software alternative that covers the full range of core procedures.

2. Stata automatically calibrate the variables using the mean and standard deviation of each variable.