Abstract
Although the importance of emotions as factors in entrepreneurial behavior has been well-established at the individual level, this relationship has not been elaborately studied at the national level. The present paper investigates effects of country-level emotions on entrepreneurial opportunity recognition and entrepreneurial intentions. Based on some established theories on the research of emotions, we hypothesize and test effects of prevailing valence-based and cognitive-appraisal-based emotional states on these two entrepreneurial perceptions and judgments. Results have implications for how best to foster entrepreneurship in different types of societies. Keywords: country-level emotions, opportunity recognition, entrepreneurial intentions
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