The aspiration of entrepreneurs to extensively grow their firms has been found to make stronger contribution to economic growth than the entrepreneurship rate in general. Formal and informal institutions shape the business environments in which companies are operating. Thus, they affect entrepreneurs’ beliefs about firm growth. However, prior research gives little attention to the interaction effects of formal and informal institutions on entrepreneurial growth aspiration.

• Taewan Kim(University of Scranton)
• Byungku Lee(University of Lavern)