창업동기와 창업의사결정에 관한 연구

The purpose of this article is to test the hypotheses theoretically derived from Lee and Venkataraman(2001, 2006)’s entrepreneurial decision making model and work motivation theories in management. By applying Nobel laureate Kahneman’s prospect theory in analyzing entrepreneurship, entrepreneurial decisions can be modeled as a function of entrepreneurs’ aspirations and their market offering opportunities. In this article, by applying work motivation theories to the entrepreneurial decision making model, we develop the following hypotheses regarding the relationships between entrepreneurial decisions and real wage levels. First, the probability an individual starts her own business(or, the rate of entrepreneurship) tends to be inversely proportional to the real wage level she can get from her best job opportunity. Second, the rate of entrepreneurship tends to be correlated with the second power of the real wage levels. Using longitudinal regression analysis techniques, we test and confirm the above hypotheses. In order to promote entrepreneurship, in addition to satisfying basic economic needs and requirements, developing various programs that can help entrepreneurs satisfy higher level of needs and desires would be necessary. This article also provides a theoretical micro-foundation for understanding the relationship between rates of entrepreneurship and real wage levels of non-entrepreneurs.