Management Summary Research Study „The allocation of entrepreneurial talent: revisiting the role of formal and informal institutions“
This article introduces a framework that integrates the existing research on formal and informal institutions, productive entrepreneurship, and entrepreneurial ecosystems. The study illustrates that formal institutions can shape productive entrepreneurship differently, depending on informal institutions. The proposed model illustrates how institutional shifts impact productive entrepreneurship and serve as a tool for education and policymaking. The model can be used in courses on entrepreneurial economics and entrepreneurship as it is based on the principles already familiar to economics students and offers a practical, visual learning tool to demonstrate how formal and informal institutions influence entrepreneurial decisions.
Target groups of stakeholders: Policy-makers, Educators, Academics
Citation: Hudik, M., Dvouletý, O. (2025). The allocation of entrepreneurial talent: revisiting the role of formal and informal institutions. Small Business Economics. https://doi.org/10.1007/s11187-025-01102-6