A comparison of four measurement systems and evaluation indicators in entrepreneurship: Evidence from five innovation-driven economies in Asia

The nascent field of entrepreneurship is growing rapidly and attracting increased attention from many sectors, which developed ten evaluation indicators continuously. In spite of the lack of a comprehensive comparison, rankings from those measurement indices were extensively used for investigating, evaluating, and adjusting entrepreneurial policies in different countries. Based on the criteria of academic value and social influence, four index systems were selected for further investigation and thorough comparison. Subsequently, we selected five innovation-driven economies in Asian and using various indicators, examined whether their entrepreneurial performances differed significantly. A comparison with business environment and entrepreneurship rankings showed that Singapore has an entrepreneurship-friendly infrastructure but a negative entrepreneurial atmosphere. A similar situation exists in Hong Kong. By contrast, Japan has few entrepreneurial activities and the least favorable overall entrepreneurial environment in Asia. However, people in Taiwan and South Korea have strong entrepreneurial passion and are willing to actively participate while entrepreneurial environments are improving. In conclusion, Taiwan and South Korea are the more appropriate Asian countries for entrepreneurship in the future. The comparisons in this paper showed that four indices possess a certain level of explanatory power and limitations. Cross-referencing these indices can significantly enhance current understanding of relevant data.