Stimulating the entrepreneurial orientation of SMEs: the influence of the institutional environment

This paper aims to highlight the importance of institutional theory in analysing entrepreneurship. In order to do that, an empirical analysis of how the institutional environment influences the entrepreneurial orientation of small and medium-sized enterprises (SMEs) has been performed. The model presented in this study starts from the analysis of the dimensions of the institutional environment that have been empirically less analysed: the cognitive and normative dimensions, as well as the entrepreneurial orientation in terms of proactiveness, innovativeness and risk-taking. Our results contribute to the current entrepreneurship research as they expand the development of the relationships between institutions and entrepreneurship.