Do entrepreneurial role models influence the nascent entrepreneurial activity of immigrants?

Abstract

This paper examines how the influence of entrepreneurial role models in the individual’s decision to become a nascent entrepreneur is moderated by their socio-cultural fit. By looking at the entrepreneurial activity of immigrants, the paper proposes that, because of their lower sociocultural fit, immigrants are less likely to be influenced in their entrepreneurial activity by past and present entrepreneurs in the region where they live compared with the native population. Using a large database of 28,306 individuals in 50 Spanish provinces, the results confirm our hypothesis. The moderating effect of cultural distance and time of residence is also analyzed.