Entrepreneurial Ecosystem and Digitalization: Relationship and Synergy of Development

Muslum Mursalov (), Hanna Yarovenko and Tetyana Vasilyeva ()
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Muslum Mursalov: Azerbaijan State University of Economics
Tetyana Vasilyeva: Sumy State University

Chapter Chapter 9 in Leadership, Entrepreneurship and Sustainable Development Post COVID-19, 2023, pp 109-127 from Springer

Abstract: Abstract This research aims at determining the nature of the relationship between the entrepreneurial ecosystem, formed by business resources, infrastructure, and innovation, and the digital development of economic and social spheres in countries. The calculations are based on statistics from 127 countries and made for 14 indicators characterizing the country’s business ecosystem and 5 indicators of IT development and cybersecurity. The canonical analysis revealed a strong, statistically substantive relationship between the two groups of factors. It is established that changes in the business ecosystem development significantly affect the Digital Development Level. Correlation-regression analysis allowed us to select the most significant and influential indicators, such as Startup Skills, Risk Acceptance, Networking, Human Capital, Internationalization, and Process Innovation. The Principal Component Analysis removed multicollinearity in the data set to perform cluster analysis. As a result, three clusters of countries were identified with the highest, medium, and low levels of the business ecosystem in terms of its influence on the country’s digitalization. The obtained results allowed us to build a Predictive Decision Tree with high overall accuracy in general and for each classification group. The model predicts changes in segments for countries due to the interaction synergy of the business ecosystem environment and the level of countries’ digitalization.

Keywords: Entrepreneurial; Ecosystem; Digitalization; Synergy; Decision; Tree (search for similar items in EconPapers)
JEL-codes: C38 L26 M15 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-28131-0_9

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DOI: 10.1007/978-3-031-28131-0_9

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