Cultural and Economic Factors in International Entrepreneurship An Analysis Using the TOPSIS Method

This study explores the intricate dynamics of international entrepreneurship, emphasizing the importance of psychological, social, and economic factors within national boundaries. Amidst a growing global interest in entrepreneurship, this research highlights cultural influences on entrepreneurial theory, drawing on a cross-national study of approximately 1800 fourth-year university students from nine countries. By examining students' attitudes towards free markets, competition, and the role of entrepreneurship in economic growth, the study provides critical insights into the entrepreneurial mindset across diverse cultures. Utilizing integrated entropy weighting and the TOPSIS method, this research systematically evaluates and ranks entrepreneurship attributes, including Leadership, Growth Orientation, Opportunity, Risk-taking, and Market Knowledge. The findings reveal Leadership as the highest-ranked attribute, reflecting its robust performance across key criteria such as Innovation, Profit Margin, Regulatory Compliance, and Customer Satisfaction, while Market Knowledge is identified as needing significant improvement. The study posits a strong link between culture and industry in shaping entrepreneurial motivation, suggesting that both cultural and industrial factors substantially influence individuals' drive to pursue entrepreneurship. By examining the relationship between entrepreneurial motivation and four general personality traits, the research reveals how these traits manifest differently across cultures, underscoring the necessity for a nuanced approach in international entrepreneurship studies. Advancing the fields of entrepreneurial motivation, culture, and career development, this study addresses the challenges faced by international entrepreneurs and highlights the critical need for supportive global policies. It raises significant questions about the relationship between culture, industry, and entrepreneurial activity, potentially stimulating further discussions and research. The study also introduces new principles in the economics of entrepreneurship, such as bounded rationality, rule-following, institutions, cognition, and evolution, enriching our understanding of entrepreneurial behavior and decision-making. This comprehensive framework provides valuable insights for scholars, policymakers, and educators, aiming to foster a more balanced and effective entrepreneurial landscape worldwide.