Academic journal article Academy of Entrepreneurship Journal

The Research of the Influence of Psycho-Economic Conditions on Entrepreneurial Activity in the Rf Regions

Academic journal article Academy of Entrepreneurship Journal

The Research of the Influence of Psycho-Economic Conditions on Entrepreneurial Activity in the Rf Regions

Article excerpt


Modern society faces the urgency of researching entrepreneurial development issues in spite of considerably vast knowledge in this sphere accumulated by previous generations. At present the significance of entrepreneurship in the social and political life of any society and harmonization of public relations cannot be overestimated by most world powers irrespective of their social and political organization. Issues relating to the state regulation mechanism of entrepreneurship, identification of factors affecting entrepreneurs' behaviour and development of their organisations, are of particular interest in the academic community. The research is carried out in various aspects: Economic, social, psychological, politico-entrepreneurial and other fields of study, thus reflecting crucial aspects and motives of entrepreneurial activity.

The economic and socio-economic significance of entrepreneurship defines objectives and priorities of state regulation (Decker et al., 2014), public policy with regard to entrepreneurial development (Edoho, 2016), the importance of cooperation of formal and informal society structures in its development, global investigation and research (Gedajlovic et al., 2013; Estrin et al., 2013; Bosma, 2013). The role of "ecological entrepreneurship", "green economy" within the principle of sustainable development of the society is paid much attention to as well (Schaper, 2016; Samarina, 2015).

The search for methods and tools of entrepreneurial regulation brings up to date sociopsychological, politico-legal, culturological and other approaches to studying entrepreneurial behavior (Baum et al., 2014; Popkov et al., 2015; Lounsbury & Glynn, 2001; Deakins et al., 2016) A more in-depth study of the emergence process of the individual's entrepreneurial principle, its development and motives of behaviour leads scientists to study moral and value aspects (Kirkley, 2016), self-actualization needs (Baum et al., 2014; Carland et al., 2015), gender (Bruni et al., 2014) and national factors (Acs et al., 2014), characteristic features of psyche (Carland et al., 2015). Particular attention is given to improving entrepreneurial education processes as one of the most effective tools of influence not only on the effectiveness of entrepreneurship itself but also on creating a favourable intellectual environment for social and economic development of the society as a whole (Dell, 2014; Choi & Majumdar, 2014; Fayolle, 2013; Carland et al., 2015).

However, in spite of the undeniable theoretical importance of various research directions of the entrepreneurship phenomenon, the urgency for practical application of accumulated knowledge in the processes of regulating entrepreneurial activities stipulates that the most pressing and relevant for modern conditions approaches should be identified. One of such approaches is a "psycho-economic approach" which is concerned with intrinsic personal motives of entrepreneurial public involvement determined by psychological, socio-economical and politico-legal factors (Lepeshkin, 2014; Lepeshkin & Chumakov, 2015). The approach takes into account the main principles of psychology and social psychology in terms of studying active personality behaviour (Freud, Maslow, Levy, Weber, etc.), the labour theory of value, economic classicism and neoclassicism in relation to the entrepreneur's place and role in economic phenomena (Smith, Ricardo, Marx, Marshall, Schumpeter and others), as well as leadership theories (Fiedler, Hersey and Blanchard, Levy, Vroom, etc.) and freedom of the individual (Fromm, Hayek, Friedman, etc.) from the viewpoint of explaining entrepreneurial behaviour.


In the framework of the psycho-economic approach cause-and-effect relations in the processes of group development, entrepreneurs' cooperation or segregation, are analysed being a tool of a significant impact on the structure of economic systems. Consideration of entrepreneurship as a special socio-economic system which comprises individual entrepreneurs carrying on business either individually or as members of entrepreneur associations and groups is proposed. …

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