abstract
- Through the institutional approach, this article analyses the extent to which the formal entrepreneurial context affects entrepreneurship and intrapreneurship in Latin America. We test our hypotheses using a maximum-likelihood self-probit model and a sample from the Global Entrepreneurship Monitor (GEM) comprising 73,062 observations across ten Latin American countries for the period 2016¿2018. The results highlight that the financial environment, government policy programs, entrepreneurial education, R&D transfer, and internal market dynamics influence how business opportunities are exploited (i.e., through entrepreneurship or intrapreneurship). This study contributes to the literature by showing that certain formal institutions may be more beneficial (or detrimental) to entrepreneurship and/or intrapreneurship in Latin American countries. Practical implications have been derived for the design of governmental policies and programs in this context.