Exploring the effect of institutions on entrepreneurial ecosystems: A meta-analysis

The role of institutions in fostering entrepreneurial ecosystems (EEs) has received increasing attention from scholars. This meta-analysis is the first to assess the effectiveness of formal institution, informal institutions and networks in enhancing EEs performance. As such, it blends institutional theory with the theory of entrepreneurship through the lens of EEs. Further, it aims to unveil potential moderators on the nexus between EEs and institutions. Our findings show that although formal and informal institutions and networks are significant determinants of EEs performance, their effect sizes depend on the measurement context of EEs, the level of economic development, cultural and spatial specificities. In this sense, our findings, apart from confirming the role of institutions in EEs performance, help further expanding theorizing on the strength of this relationship by highlighting their context dependence.