Does Social Progress Impact Entrepreneurial Employee Activity? Evidence from High-Income Countries
DOI:
https://doi.org/10.22452/IJIE.vol18no4.5Keywords:
Entrepreneurial employee activity, High-income countries, Intrapreneurship, Panel data, Social progressAbstract
In recent years, the global economy has experienced a significant rise in
trade and financial globalisation, driven by deregulation, ICT advancements, increased
competition, and various business and financial risks. In parallel, social progress has
added complexity to the business environment and highlighted the importance of other
types of risks, such as social risk. Aware of this risk-diffusing development, many
businesses have devised strategies that consider the entrepreneurial attributes of their
employees, commonly referred to as entrepreneurial employee activity (EEA), as a vital
factor for creating value. This study examines how social progress and its components
facilitate EEA, using a dataset from 26 advanced countries during 2014–2019.
Estimation results from a static panel model reveal a significant impact of social progress
on EEA. Basic Human Needs and Opportunity play more substantial roles in influencing
EEA, whereas the impact of Well-being is more marginal. The research underscores the
importance of formulating and implementing social progress-based policies to promote
EEA. Policies should prioritise securing basic needs and expanding access to individual
opportunities through education, training, and supportive institutional frameworks.
Employee profit-sharing schemes, intellectual property protection for intrapreneurs,
tax incentives for firms offering upskilling programmes, and protections that reduce job
insecurity could foster EEA.
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