The influence of the perceptions of institutional environment on entrepreneurial plans: exploring the moderating effects of firm age and firm size in Bulgarian enterprises


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It was acknowledged that institutional environment plays important role for shaping entrepreneurial behavior in transition economies. The present study investigates the influence of entrepreneurs’ perceptions of institutional environment on their entrepreneurial plans in a large representative sample from a transition economy. The findings reveal that institutional environment has a significant influence on entrepreneurial plans and that firm age and size moderate the effect of institutional environment on entrepreneurial plans. The paper provides recommendations for future research and a discussion of practical implications.

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    • Table 1. Characteristics of the respondents
    • Table 2. Results from a binary logistic regression (dependent variable = PLANS).