Title: The Influence of Political Ideology on Entrepreneurial Innovation and Venture Creation
Authors: Ifeanyichukwu Ojeka Ukonu, Samuel Onuh, Emmanuel Yusuf Attah
Volume: 10
Issue: 8
Pages: 271-281
Publication Date: 2026/08/28
Abstract:
This study investigates the influence of political ideology on entrepreneurial innovation and venture creation across developed and developing economies. Drawing on institutional theory and the resource-based view of the firm, the authors examine how left-wing and right-wing political ideologies shape entrepreneurial ecosystems, innovation outputs, and new venture formation rates. Using a sequential explanatory mixed-methods design involving cross-national panel data from 45 countries spanning 20 years (N = 1,280 observations) and 32 in-depth interviews with entrepreneurs and policymakers, the research reveals that political ideology significantly affects entrepreneurial innovation through its influence on regulatory frameworks, government spending priorities, and institutional support mechanisms. Right-wing ideologies characterized by lower taxation and deregulation positively correlate with high-growth venture creation, while left-wing ideologies emphasizing government investment in education and infrastructure produce more sustainable innovation ecosystems. The findings contribute to entrepreneurship and political science literature by demonstrating that ideological orientations shape the institutional conditions under which entrepreneurial activity flourishes, offering actionable insights for policymakers seeking to design ideologically balanced innovation policies.