An ADAM-based approach to unveiling entrepreneurial ecosystems in selected European countries

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Date

2025

Authors

Popović, Gabrijela
Fedajev, Aleksandra
Mitić, Petar
Meidutė-Kavaliauskienė, Ieva

Journal Title

Journal ISSN

Volume Title

Publisher

Emerald

Source

Management Decision

Volume

63

Issue

4

Abstract

Purpose This study aims to integrate the resource-based view (RBV) with other theories that consider external factors necessary to respond successfully to dynamic and uncertain entrepreneurial business conditions. Design/methodology/approach The paper introduces an multi-criteria decision-making (MCDM) approach, utilizing the axial-distance-based aggregated measurement (ADAM) method with weights determined by the preference selection index (PSI) method, to rank eight European countries based on the Global Entrepreneurship Monitor (GEM) data. Additionally, the paper extends the existing entrepreneurial ecosystem taxonomy (EET), offering an additional classification. Findings The performed analysis emphasizes the importance and necessity of involving different dimensions of EE in assessing the countries' entrepreneurship performance, which facilitates creating adequate policy measures. Research limitations/implications The crucial limitations are assessments based only on the GEM data from a particular period, possibly leading to a certain bias. Future research should involve data from various resources to increase the results' reliability. Originality/value The ranking results and country classification obtained using the ADAM-based approach and two distinct taxonomies served as the basis for formulating tailored policy recommendations, aiming to formulate tailored policy implications for increasing the number of new entrepreneurs and improving innovativeness, sustainability and internationalization of existing entrepreneurs for each group of countries.

Description

Keywords

ADAM method, PSI method, European countries, Entrepreneurship environment taxonomy, Global entrepreneurship monitor

Citation

DOI

10.1108/MD-12-2023-2420

Scopus

ISSN

0025-1747
1758-6070

ISBN

URI

https://repozitorijum.tfbor.bg.ac.rs/handle/123456789/5968

License

ARR
All rights reserved

Collections

NIR