1. Rethinking Social Entrepreneurship: Context is Key

This research paper explores the relationship between a nation's economic development level and its social entrepreneurial activity. It is investigated whether social ventures are more likely to arise in less developed countries with weak institutions or in developed nations with stronger support systems. By analyzing data from numerous global datasets across 59 countries, the study identifies how formal and informal institutional mechanisms influence the formation of social enterprises. Findings indicate that informal institutions positively correlate with social venture creation worldwide, but the impact of formal institutions varies significantly depending on a country's economic stage. Ultimately, this comparative analysis offers insights for policymakers aiming to foster social entrepreneurship in diverse economic contexts.