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The Determinants of Success in Entrepreneurship: A Study in the Urban Area of Ecuador

Abstract:

This research work aims to identify the main factors that determine the success of the enterprises established in the urban area of Riobamba (Ecuador). The research is descriptive and correlational. The field study includes a survey applied to 57 companies. For the analysis, the econometric model of binary logistic regression is used, taking nine explanatory variables. The main results show that the main determinants of success in ventures are represented as the most significant variable human capital explained by experience, academic education, and age; the greater the human capital, the greater the possibility of achieving success in ventures. Financial capital is another important variable that significantly determines entrepreneurial activity. Finally, social capital has a direct relationship with the success of ventures.