Entrepreneurial Attitude as Knowledge Asset: Its Impact on the Entrepreneurial Activity in Europe

The strategy developed by the European authorities regarding the improvement of the economic performance in a knowledge- based economy has not provided the expected results. One reason for this semi-failure is related to a shy entrepreneurial activity stimulus generated in the member countries. In this context, the paper will show that the entrepreneurial attitude and perception stand for an important knowledge asset. Furthermore, using linear but also dynamic panel data analyses for the period 2007-2011, the paper demonstrates that the entrepreneurial attitude and perception strongly influence the entrepreneurial activity in Europe. Both the entrepreneurial attitude and the entrepreneurial activity are measured based on an aggregate index, using Global Entrepreneurship Monitor (GEM) data.