Evaluation of the Global Entrepreneurship Index validity


  • Eduardo Avancci Dionisio Department of Science and Technology Policy (DPCT), Campinas State University (UNICAMP), Campinas, SP, Brazil https://orcid.org/0000-0001-5301-9301
  • Dirceu Silva Faculty of Education (FE), Campinas State University (UNICAMP), Campinas/SP, Brazil https://orcid.org/0000-0003-3267-511X
  • Ruy Quadros Carvalho Department of Science and Technology Policy (DPCT), Campinas State University (UNICAMP), Campinas/SP, Brazil https://orcid.org/0000-0002-7100-8064
  • Edmundo Inácio Júnior School of Applied Sciences (FCA), Campinas State University (UNICAMP), Campinas/SP, Brazil https://orcid.org/0000-0003-0137-0778




National Systems of Entrepreneurship, Entrepreneurial Ecosystems, Composite Index


Purpose: our objective is to assess whether the Global Entrepreneurship Index (GEI) is a valid methodology for measuring the national systems of entrepreneurship. Theoretical framework: we use the structural equation modeling (SEM) as a theoretical lens to evaluate the Global Entrepreneurship Index. Design/methodology/approach: to achieve the research objective, we perform structural equation modeling to measure the formative model of GEI, using the SmartPLS 3.0 software, in order to verify the convergent validity of the constructs; the collinearity of indicators and their relevance for measuring entrepreneurship. Findings: the results obtained show that the sub-indices and indicators are adequate to measure entrepreneurship. However, we identified that there is a need to replace the micro-level components of the opportunity perception and networking indicators which provide distorted results of what is understood as productive or high impact entrepreneurship. Research, practical and social implications: the main contributions of our study are directed to the indicators’ developers. We suggest the use of components that capture aspects associated with high-impact or technology-based entrepreneurship instead of any attempt to create a new business, as our results indicate that generic components provide short-sighted results on the state of entrepreneurship, hampering comparative studies at the country-level. Originality/value: although the GEI is based on the OECD recommendations for the construction of composite indicators (indices), we have not identified any studies (not even performed by the GEI developers) on the validity of the index as a methodology for measuring entrepreneurship.


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Author Biographies

Eduardo Avancci Dionisio, Department of Science and Technology Policy (DPCT), Campinas State University (UNICAMP), Campinas, SP, Brazil

is a professor in the area of administration at the Federal Institute of Science and Technology of São Paulo (IFSP). He has been taught by UNICAMP and Graduation by FATEC. His areas of interest include productive entrepreneurship, entrepreneurial ecosystems, and innovation. His articles have been published in journals such as Technology Forecasting and Social Change and the Journal of Intellectual Capital.

Dirceu Silva, Faculty of Education (FE), Campinas State University (UNICAMP), Campinas/SP, Brazil

is a professor at the Faculty of Education of the State University of Campinas (UNICAMP). He holds a doctorate, master's and undergraduate degrees, all from USP. His areas of interest include Administration, Production, Entrepreneurship, Health and Education. His articles have been published in journals such as Process Safety and Environmental Protection and Asia-Pacific Journal Of Business Administration.

Ruy Quadros Carvalho, Department of Science and Technology Policy (DPCT), Campinas State University (UNICAMP), Campinas/SP, Brazil

is a professor in the Department of Scientific and Technological Policy at the State University of Campinas (UNICAMP). He holds a doctorate from the University of Sussex, a master's degree from UNICAMP and a degree from EAESP / FGV. His areas of interest include innovation, management of technological innovation, R&D project evaluation. His articles have been published in journals such as Latin American Business Review and Research Policy.

Edmundo Inácio Júnior, School of Applied Sciences (FCA), Campinas State University (UNICAMP), Campinas/SP, Brazil

is a professor at the School of Applied Sciences at the State University of Campinas (UNICAMP). He has a doctorate from UNICAMP, a master's degree from UFPR and a degree from UEM. His areas of interest include innovation, entrepreneurship and entrepreneurial ecosystems. His articles have been published in Technology Forecasting and Social Change and the International Journal on Management of Innovation & Technology.


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How to Cite

Avancci Dionisio, E., Silva, D., Quadros Carvalho, R., & Inácio Júnior, E. (2022). Evaluation of the Global Entrepreneurship Index validity. Iberoamerican Journal of Entrepreneurship and Small Business, 11(2), e2050. https://doi.org/10.14211/ibjesb.e2050