摘要：AbstractThis paper considers the impact of foreign direct investments (FDI) on the entrepreneurial activity in 16 European countries. Data for the early-stage entrepreneurial activity are provided by the Global Entrepreneurship Monitor (GEM), which made also a distinction between necessity- and opportunity-driven entrepreneurs. We assess the role of both inwards and outwards FDI for the period 2005-2011. Our results show that the inwards FDI positively influence the opportunity-driven entrepreneurs while the outwards FDI have a positive influence on the necessity-driven entrepreneurs and a negative impact on the other category of entrepreneurs. The results regarding the FDI impact on the opportunity-driven entrepreneurs are strongly robust in terms of panel data expansion and control variables. Our findings show also that the opportunity entrepreneurship is associated with more developed, innovation-driven economies, while the necessity entrepreneurship characterizes the European efficiency-driven economies.
关键词：Entrepreneruship;FDI;Panel models;European countries
