Sustainability Performance of Women Entrepreneurs in Developing Countries: A Multidimensional Analysis of Public Policy, Culture, Competencies, and Gender Factors in Entrepreneurship

Sustainability Performance of Women Entrepreneurs in Developing Countries: A Multidimensional Analysis of Public Policy, Culture, Competencies, and Gender Factors in Entrepreneurship | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article Sustainability Performance of Women Entrepreneurs in Developing Countries: A Multidimensional Analysis of Public Policy, Culture, Competencies, and Gender Factors in Entrepreneurship Nurul Hidayana Mohd Noor, Azizan Zainuddin, Ibraheem Saleh Al Koliby, and 1 more This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-8311709/v1 This work is licensed under a CC BY 4.0 License Status: Under Revision Version 1 posted 11 You are reading this latest preprint version Abstract Entrepreneurship is the primary engine of global economic growth. However, for a long time, the representation of women in the business and entrepreneurial world has been a challenge that must be addressed. Although many women possess immense potential in entrepreneurship, factors such as gender bias, limited access to capital, and cultural difficulties often serve as significant obstacles. The primary objective of this study is to investigate the impact of public policy, national culture, entrepreneurial competencies, and gender inequality on the sustainable performance of women entrepreneurs from low-income backgrounds. This research also aims to investigate the mediation effect of entrepreneurial competencies and the moderating effect of gender inequality through statistical analysis using the Structural Equation Modeling (SEM) method and AMOS software. The study sample consisted of 389 women entrepreneurs from low-income groups, selected using a purposive sampling method. Research indicates that public policy, national culture, entrepreneurial competencies, and gender inequality have a significant impact on the performance of sustainable entrepreneurship. The study also revealed that the mediated and moderated models are substantial. As a result, a good ecosystem for successful entrepreneurs is needed, which includes a pro-entrepreneurial and gender-balanced environment, as well as active entrepreneurship development programs to enhance entrepreneurial competency levels. JEL Classification : J24, L26 public policy national culture entrepreneurial competencies gender inequality sustainable performance women entrepreneurs Figures Figure 1 Figure 2 Figure 3 Figure 4 Introduction An essential prologue expressing that women are the core contributors to national development for future growth cannot be denied. Providing women with greater access to education, training, and capital is a crucial step in increasing their representation in entrepreneurship (Ahl et al., 2024; Mukherjee et al., 2025; Shahriar, 2018). Gender bias still exists in many aspects of life, including in the business world. Women often face prejudice or discrimination in terms of access to resources and business opportunities (Avnimelech & Zelekha, 2023; Franzke et al., 2022; Noor et al., 2024a). In contrast to men, women must consistently fulfil two essential duties (Adom & Anambane, 2020), i.e., they face more complications in harmonizing work and life because they have family responsibilities and, simultaneously, they need to care for children and fulfil domestic duties (Ilie et al., 2021; Noor et al., 2024a). In Malaysia, gender discrimination has existed for a long time because it has taken root in the lives of local communities (Adom & Anambane, 2020; Noor et al., 2022). Since childhood, we are often confronted with a stereotype that separates men from their masculinity and women from their femininity (Avnimelech & Zelekha, 2023; Constantinidis, 2021). Gender equality is one of the targets outlined in the Sustainable Development Goals (SDGs), a United Nations (UN) initiative. The SDGs’ fifth goal emphasizes the importance of equality in national development and participation. As an Islamic country, there is a misconstrued belief in Malaysia that Islam is trying to control the rights and roles of women, and there is a spread of false facts about religiously based practices (Tlaiss & McAdam, 2021). Most women entrepreneurs face challenges such as the lack of funding, increased operating costs, limited access to business networks, weaknesses in business management, inadequate mental support, insufficient business resources, and business skills that are too generic and weak (Pineda Duque & Castiblanco Moreno, 2022). To help women entrepreneurs remain competitive, the Malaysian government has introduced various programs and initiatives that enable them to penetrate both local and international markets. The National Entrepreneurship Policy (DKN 2030) provides guidance and a framework for the government to ensure that the entrepreneurial ecosystem is inclusive, where every entrepreneur in various sectors benefits from the planned plans and initiatives. Government agencies not only function as regulators, but also as facilitators, assistance providers, and capacity builders (Arnold, 2021; Capano & Galanti, 2021; Pulka et al., 2021). Government agencies also offer various incentives, including tax exemptions, business grants, training and development, and networking platforms (Audretsch et al., 2022; Henry, 2021). Despite the various programs and activities introduced by the government, they are still not effectively targeted, with many entrepreneurs still missing the intended target. The government is also perceived as focusing solely on planning but failing to implement entrepreneurial programs. A study by Arnold (2021) observed that government agencies commonly embrace a wait-and-see approach and are not drawn into their clients to determine the entrepreneurs’ demands. Sometimes, the assistance offered is only half-hearted. Mashapure et al. (2022) noted that the government has substantially supported small businesses through various grant programs. Still, the entry-level requirements for government financial aid and credit are minimal. Entrepreneurship is closely linked to a society’s social and cultural context (Facchini et al., 2021; Kara & Dheer, 2023; Tehseen et al., 2023). As culture is a notable factor in entrepreneurship circumstances, a country is required to foster a culture that espouses entrepreneurship (Achim et al., 2021; Lounsbury et al., 2021). Furthermore, entrepreneurial performance also varies according to entrepreneurial competencies, which refer to a person’s capability or ability to carry out entrepreneurial roles effectively (Amini Sedeh et al., 2022; Hussain et al., 2022; Ibidunni et al., 2022). Even though conducive public policy and entrepreneurial competencies exist, they will be less profound if they are not met with a foundation from all parties (Avnimelech & Zelekha, 2023; Franzke et al., 2022; Noor et al., 2024b). Academic researchers who consider gender bias in entrepreneurship are aware of this problem. This study aims to close several research gaps. Studies tend to focus more on the external aspects of entrepreneurship, such as the role of law and policy, the importance of business loans and investments, and investor support (e.g., Amini Sedeh et al., 2022; Hussain et al., 2022; Mokbel et al., 2024). However, the interaction between environmental factors and internal factors, such as entrepreneurial competence, remains underexplored by researchers. Hence, by examining macro (i.e., public policy and national culture), meso (i.e., gender inequality), and micro (i.e., entrepreneurial competencies) levels, this study aims to provide new insights into the current literature on women entrepreneurship. Furthermore, studies that estimate the direct and indirect impacts of gender inequality on the performance of sustainable entrepreneurship are scarce (Franzke et al., 2022). Next, most prior research samples do not include the population of women entrepreneurs in developing countries. This gap occurs because the sample population of previous research is too small and less varied. Thus, new research needs to increase the scope of the sample to be representative and substantial enough to generate valid decisions on women’s entrepreneurship performance. The research objective is to motivate governments to create policies that support the development of women entrepreneurship, as this approach would boost worldwide productivity and effectiveness. The research results enable women to participate more actively in economic activities, which supports both gender equality and Malaysian economic expansion. Hence, considering the gap, the study’s objectives are threefold: RO1. To examine how public policy and national culture affect women’s entrepreneurship performance. RO2. To assess the role of entrepreneurial competencies in mediating the relationship between (a) public policy, (b) national culture, and women’s entrepreneurship performance. RO3. To assess the moderating role of gender inequality in the relationship between entrepreneurial competencies and women’s entrepreneurship performance. Literature Review and Hypothesis Development Sustainable Entrepreneurship Performance The modern business environment utilizes sustainability as a strategic factor that influences an organization’s path and public perception (Agrawal et al., 2022). The Triple Bottom Line (TBL) concept provides a fresh perspective that transforms business success evaluation methods. The business model now requires financial success alongside its impact on human welfare and environmental protection. John Elkington introduced the concept, which demonstrates that financial success must align with social welfare and environmental sustainability standards (Agrawal et al., 2022). Businesses recognize that sustainability serves as a strategic advantage, enabling them to thrive in markets where transparency and ethical standards continue to increase. Consumers are becoming more critical; they not only see the product, but also the value behind it. The environmental conservation aspect in business concerns is no longer just a corporate social responsibility (CSR) but instead needs to be an enabler in growing business and producing new value. Businesses must prioritize efforts to foster and implement a culture of environmental sustainability, including the adoption of data intelligence systems, effective waste management, energy efficiency, renewable energy sources, recycling bins, and intelligent logistics systems that help reduce carbon emissions. Business owners must consider the impact of their decisions on society and the environment and strive to contribute to a better world for current and future generations by taking responsibility for their actions. Nevertheless, while social and environmental features are significant, profit remains the principal of business existence. Consistent profits enable businesses to invest in innovation, expand into new markets, and improve employee well-being. Financially profitable businesses are also better able to successfully execute social and environmentally friendly programs (Goni et al., 2021). An equilibrium between the environment, community, and profit models the footing of a sustainable business. Businesses that adopt this method not only gain the economic advantage of expansion but also have a positive impact on society and the planet. Eventually, these stable businesses are more viable in the long run, as they cater to the needs of numerous stakeholders, including customers, employees, and investors (Goni et al., 2021). Macro-Meso-Micro Perspectives of Sustainable Entrepreneurship Performance Macro-meso-micro perspectives justify more objects as broad as social institutions, systems, culture, and society as a general whole. Figure 1 illustrates the study frame underlying the macro-meso-micro perspectives. Macro is defined as a form of social bond that interweaves among several social groups in the community, accommodating all forms of different interests and abilities, and ultimately providing the impetus for development (Vlados & Chatzinikolaou, 2020). This study’s macro level refers to the effect of public policy on the growth of women’s entrepreneurship. The government will formulate policies, strategies, and action plans to support the development and empowerment of entrepreneurs and strengthen the governance and regulatory system to promote inclusive, balanced, and sustainable entrepreneurial development (Audretsch et al., 2022; Nziku & Henry, 2021; Pulka et al., 2021). Furthermore, using the macro level, this study also examines the outcome of the national effect. Malaysia is a multi-racial country, with its population predominantly comprising Malays, Chinese, and Indians. Malaysia is home to a diverse range of ethnic groups, each with unique and distinct cultural identities, as well as shared similarities. Entrepreneurial behavior is correlated to cultural appraisals, which are grounded in Hofstede’s background of cultural elements (Tehseen et al., 2023; Facchini et al., 2021). In highly individualistic cultures, where autonomy is valued, entrepreneurs who demonstrate high self-confidence, bravery, and capability are highly appreciated and supported (Achim et al., 2021). Hence, cultural magnitudes become a tool used to explain the key aspects of culture, providing a perspective for entrepreneurial performance (Facchini et al., 2021; Kara & Dheer, 2023; Tehseen et al., 2023). Subsequently, meso networks are integral to the social process and interaction within the community’s social group. The gender model is socially assembled and, consequently, can change from one culture to another. Nevertheless, all societies are, to some extent, described by patriarchy in the sense that there is a form of social organization in which men control women and a cultural observation of male superiority. These gender differences are incessantly transferred through socialization (Avnimelech & Zelekha, 2023). The socialization process, or the internalization of societal norms and values regarding role expectations, is often cited as a justification for the existence of gender differences in entrepreneurship. It also describes how these social constructions of gender variations have changed the rates and opportunities for women to contribute to national development (Ilie et al., 2021; Franzke et al., 2022). A micro network manifests social relationships between individuals as smoothing, bridging, and adhering. Ibidunni et al. (2022) argued that key competencies are essential for an entrepreneur’s success. This viewpoint is proved by Amini Sedeh et al. (2022) and Mokbel et al. (2024). Entrepreneurs can lead and inspire subordinates to bring about ideas for change. An entrepreneur should also be able to persist in addressing business problems over a long period (Hussain et al., 2022). The Influence of Public Policy on Sustainable Entrepreneurship Performance The Malaysian government, along with its agencies, remains committed to providing various targeted assistance and intervention programs aimed at enhancing business capabilities and entrepreneurial skills among women entrepreneurs. The Ikhtiar Financing Scheme (SPI) from Amanah Ikhtiar Malaysia (AIM) and the TEKUN Wanita from TEKUN Nasional are among the available programs. The government supports women entrepreneurs through various incentives tailored to their specific needs and requirements. The programs offer financial support through grants and microloans and deliver technical training to participants. The government also provides tax benefits to women entrepreneurs who choose to invest their money in particular business sectors (Ahl et al., 2024; Arnold, 2021). Businesses can lower their operational expenses through government-backed tax benefits. Businesses that receive tax incentives will experience both reduced tax liabilities, enhanced cash flow, and expanded operations (Arbelo-Pérez et al., 2025). This business aid can obliquely help business owners without substantial capital develop their businesses (Peng & Tao, 2022). Notionally, the effect of government policy on business can be described from a political or technical viewpoint (Capano & Galanti, 2021). From a political perspective, the policies implemented by a government vary primarily according to the government's political ideologies, principles, traditions, and the type of governance practiced (Arbelo-Pérez et al., 2025). Policy in a communist country will be distinct from that in a democratic or monarchical country. The government policy in a politically stable country will also be distinct from that of an unstable country (Audretsch et al., 2022). A country cannot create a sustained business-friendly environment or policy in the presence of a negative political culture (Ahl et al., 2024; Martínez-Rodríguez et al., 2022). From a technical viewpoint, policies such as taxation, subsidies, interest rates, and exchange rates can directly and indirectly impact business performance (Kassaye et al., 2025). A high tax rate on imported products would encourage local entrepreneurs to produce goods domestically (Arnold, 2021). However, a high tax rate on raw materials will impede domestic production and encourage the importation of raw materials. Likewise, bank lending rates and government financial policies can also affect the economy (Audretsch et al., 2022). The increase in interest rates will lead to decreased investment, as businesspeople would not borrow at unrealistic rates. Governments establish rules and regulations that govern the way businesses can compete against one another. Business is thus profoundly altered by government policies (Mashapure et al., 2022; Nziku & Henry, 2021; Pulka et al., 2021). Therefore, based on the prior discussion and empirical evidence, this study hypothesizes that: H1. Public policy significantly affects women's entrepreneurship performance. The Influence of National Culture on Sustainable Entrepreneurship Performance The literature has repeatedly focused on the relationships between cultural values, beliefs, and entrepreneurial behaviors (Achim et al., 2021; Facchini et al., 2021; Kara & Dheer, 2023; Tehseen et al., 2023). Due to its influence on beliefs, intentions, and actions, culture could impact entrepreneurial endeavors (Ferreira & Dinis, 2025). Cultural values influence the magnitude of society’s values, such as entrepreneurial behaviors, risk-taking, and independent reasoning (Kara & Dheer, 2023). Cultures that value and reward such behaviors inspire the propensity to present and advance fundamental innovations. In contrast, entrepreneurial behavior is less prevalent in cultures that encourage behaviors subject to traditions and rules, group interests, and control over the future (Achim et al., 2021). Entrepreneurs are inclined to take risks and make improvements, as vagueness is a natural part of economic life (Lounsbury et al., 2021). With acknowledgment of entrepreneurship, culture completes itself as the instrumentalist, and the entrepreneur serves as the mechanism. Even though the influence of culture on entrepreneurship is a generally accepted conviction, a consensus on the severity and form of this influence has yet to be reached. According to Facchini et al. (2021), culture has a significant influence on attitudes toward entrepreneurship and drives entrepreneurship. For example, democratic cultures inspire individuals to try improvements and make new efforts, which naturally boost entrepreneurial tendencies (Tehseen et al., 2023). More egalitarian and democratic groups have a significant influence on the development and evolution of entrepreneurial identity. As culture improves personal attributes and excludes others, some cultures become more prone to entrepreneurial direction when compared to other cultures (Facchini et al., 2021). Therefore, this study hypothesizes that: H2. National culture has a significant impact on the performance of women’s entrepreneurship. Mediating Effect of Entrepreneurial Competencies Entrepreneurs will not flourish without effort if they are easily discouraged. Many successful entrepreneurs possess something that others lack, namely, specific competencies (Ismail, 2022). Entrepreneurial competency refers to a person’s ability to perform entrepreneurial functions more efficiently in accordance with their duties as an entrepreneur (Amini Sedeh et al., 2022). The initiative is one of the foremost entrepreneurial competencies because this trait enables entrepreneurs to efficiently assess and examine a situation or circumstance (Hussain et al., 2022). A genuine entrepreneur will be sensitive and always emphasize the quality and standards of their work. Only with quality work can the entrepreneur expand the market and further improve the performance and image of the business (Chaturvedi, 2025; Mohd Noor et al., 2024). Entrepreneurs seeking success must be able to solve problems by generating new ideas or innovative solutions to existing problems (Mokbel et al., 2024). Pulka et al. (2021) emphasize that entrepreneurial competency catalyzes economic success. An entrepreneur’s success largely depends on recognizing and seizing the opportunities around them (Ibidunni et al., 2022). An entrepreneur should possess the skills to translate ideas into reality, which can persuade other parties to participate in entrepreneurial activities (Amini Sedeh et al., 2022). It indirectly helps persuade suppliers to extend the credit period and convince customers of the value of the products or services provided (Mokbel et al., 2024). Through this study, entrepreneurial competence acts as a mediator variable, encompassing the entrepreneur’s ability and skills in identifying opportunities, managing risks, strategically managing the business, and finding opportunities for improvement that can provide multiple benefits to the entrepreneur’s performance (Chaturvedi, 2025; Mohd Noor et al., 2024). The positive impact of public policy and national culture can only be fully realized in better sustainable entrepreneurial performance when individuals possess adequate entrepreneurial competencies (Ibidunni et al., 2022; Mokbel et al., 2024). Considering the discussion that has been presented, this study asserts that: H3. Entrepreneurial competencies mediate the relationship between public policy and women’s entrepreneurship performance. H4. Entrepreneurial competencies mediate the relationship between national culture and women’s entrepreneurship performance. Moderating Effect of Gender Inequality The topic of gender equality is a sign of recognition in politics that rights, opportunities, and safeguards are afforded to every individual regardless of gender or age (Constantinidis, 2021; Tlaiss & McAdam, 2021). The issue of gender equality has been promoted to the fifth pillar of the SDG as endorsed by the UN (Franzke et al., 2022). Gender inequality that regularly occurs around us cannot indeed be detached from the role of the patriarchal system that is already embedded. Rietveld and Patel (2022) revealed that societies that adhere to a social system always use patriarchy as a target in examining the relationships that are intertwined in social structures and functions. The continuation of this patriarchy places men in a position that is always superior to women, thus improving the scheme of male dominance, which influences the narrow space for women to move and develop (Shahriar, 2018). In the modern workforce, fostering gender equality is crucial for creating a comprehensive and equitable business environment (Adom & Anambane, 2020; Constantinidis, 2021; Tlaiss & McAdam, 2021). The multiple responsibilities faced by female entrepreneurs can harm their careers, especially when they do not receive the necessary support (Dogan & Aykan, 2025; Franzke et al., 2022; Ilie et al., 2021). Furthermore, past studies have also discovered that traditional societal practices, which have been established for a long time and are difficult to change (Franzke et al., 2022; Shahriar, 2018). The practice of discrimination against women stems from local customs rather than Islamic teachings (Avnimelech & Zelekha, 2023; Love et al., 2024). The success of women’s workforce participation in Malaysia depends on policies that offer comprehensive support to women, as these policies will create lasting economic benefits for both women and the nation (Adom & Anambane, 2020). This study suggests that gender inequality serves as a moderator variable in the relationship between entrepreneurial competence and sustainable business performance among female entrepreneurs. This is based on the argument that individuals with high competence who face discrimination challenges will face greater challenges in managing a business than those who do not face any discrimination (Rietveld & Patel, 2022). This means that entrepreneurial competence is critical; however, if the environment is not favorable, it can hinder an entrepreneur’s ability (Constantinidis, 2021; Tlaiss & McAdam, 2021). Studies by Love et al. (2024) and Malisetti and Singh (2025) confirm that gender inequality functions as a moderator that affects business success by showing how social structures influence competency-performance relationships. Consequently, gender inequality was selected as a moderator to recognize how contextual factors affect the value of entrepreneurial competencies. Consequently, based on the literature, it can be asserted that: H5. Gender inequality moderates the relationship between entrepreneurial competencies and the performance of women’s entrepreneurship. Figure 2 illustrates the research model for this study. In this model, public policy and national policies are predicted to have a direct effect on entrepreneurial competencies, which in turn mediate the relationship by transferring some or all their influences on sustainable entrepreneurship performance. Additionally, the interfering variable serves as a factor that alters the strength or direction of the relationship between entrepreneurial competencies and sustainable entrepreneurial performance. This path of impact illustrates how the original effect of the independent variable flows through the mediating variable before being influenced by the interfering variable. Ultimately, it determines the outcome of the dependent variable. Methodology The study population consisted of women entrepreneurs from low-income groups (B40) in Selangor and Kuala Lumpur, Malaysia. Based on the proportional sampling formula (Krejcie & Morgan, 1970), the minimum number of samples needed for N at a 95% confidence level is 384 women entrepreneurs. Nevertheless, this sample size was increased to 400 people based on the opinions of Nulty (2008), who stated that a larger sample size is better for increasing reliability, reducing sampling errors, and minimizing the possibility of non-returned questionnaires and data outlier problems. Kline (2023) suggested that the calculation of sample size is based on the formula 10 times the number of latent variables, indicating that the model should be more stable and the analysis results more reliable. Thus, the minimum sample size is 50 (i.e., 10 × 5 latent variables). A purposive sampling technique was used to select the study sample. Purposive sampling is a sampling technique that involves selecting a sample that accurately represents the population being studied. The evaluation is taken, of course, when specific criteria appropriate to the research topic are met. The measures involved women entrepreneurs from Selangor and Kuala Lumpur who are over 30 years old, work in the informal sector, and belong to the bottom 40% (B40) income group. Respondents were selected through purposive sampling, a procedure where questionnaires were only given to respondents who had fulfilled the prescribed criteria. Since this population is specific and not readily available through completely random sampling, the application of purposive sampling is suitable. This ensures that the data collected is accurate and relevant to the study’s purposes. This study applied a self-administered questionnaire instrument. The measurement of public policy is tailored to Ostapenko’s (2016) study. National culture and gender inequality items were modified according to Naidu and Chand (2017). The measurement of items for entrepreneurial competencies was altered from Man et al.’s (2008) scale. Lastly, sustainable performance items were taken from Agrawal et al. (2022) and Lee and Roh (202). Each item was determined using a 5-point Likert scale with a value of 1 = “strongly disagree” to 5 = “strongly agree.” This questionnaire instrument underwent a content and face validity process by appointed experts. A panel of experts was required to review and provide views and suggestions to reduce errors in the study instrument. This was followed by a pilot study (n = 40) to assess the feasibility and reasonableness of the study before conducting the actual field survey. Weiner (2007) explained that Cronbach’s alpha value with high reliability equals or exceeds 0.70. As shown in Table 1, the study instruments meet the reliability assumption. Table 1: Measurement of Variables Constructs Items Cronbach's Alpha Public Policy Corresponds to the preferences of the macroeconomic environment of business. Corresponds to the preferences of total government legislation and regulations. Correspondence to preferences for the development of the market economy institutions. Corresponds to the preferences of government support measures and programs. Corresponds to the government's infrastructure preferences for businesses. Policymakers are aware of the importance of entrepreneurial activity. Government actions in the field of entrepreneurship are efficient. The level of influence of public policy on business development. 0.880 National Culture 1. My national culture supports and values individual success obtained through personal effort. 2. My national culture emphasizes self-sufficiency, autonomy, and personal initiative. 3. My national culture stimulates creativity and innovation. 4. National culture supports awareness of women’s contributions in business. 5. My national culture emphasizes that individuals are responsible for managing their lives. 0.789 Entrepreneurial Competencies I can develop long-term trusting relationships with others. I negotiate with others. I apply ideas, issues, and observations to alternative contexts. I determine long-term issues, problems, or opportunities. I manage my firm effectively. 0.890 Gender Inequality Women often do not receive adequate education and training compared to men. Society expects women's primary roles to be taking care of children and doing housework. Women often have more difficulty accessing business capital than men. Women have more difficulty building social networks compared to men. Women often lack the tendency to acquire quality business information. Discrimination against women in society is evident. 0.870 Sustainable Entrepreneurship Performance My customers are highly content. I have a well-managed relationship with suppliers. I tried to minimize energy consumption. I tried to reduce the waste. I tried to reduce the emission of air pollutants. Sales are increasing. Net profit is increasing. 0.900 Structural Equation Modeling (SEM) was employed to test the research model. SEM is an integrated method that combines two analyses: factor analysis and path analysis. Validation of the measurement model was conducted through confirmatory factor analysis (CFA) using IBM SPSS Amos 28. This analysis was designed to obtain latent variables for subsequent analysis. To achieve unidimensionality, each factor is ensured to have a factor loading value greater than 0.60 (Hair et al., 2019). The validity of a construct is complete when the fit index reaches a specified level. In this study, four fit indices were analyzed: (i) chi-square/df, (ii) Comparative Fit Index (CFI), (iii) Tucker-Lewis Index (TLI), and (iv) the Root Mean Square Error of Approximation (RMSEA). When the proposed model does not reach the set acceptance level, the modification index (MI) value is used to modify the model to obtain a good fit. Validation of the measurement model also involved convergent validity, which refers to measuring the same concept with a high variance-sharing rate (Hair et al., 2019). Meanwhile, reliability reviews the extent to which the measurement model consistently measures the relevant constructs. Two criteria were used to evaluate reliability: composite reliability (CR) and average variance extracted (AVE). A CR value > 0.70 and an AVE value > 0.50, respectively, indicate that the reliability of the construct has been accomplished (Fornell & Larcker, 1981). Discriminant validity is attained when the square root of the AVE value for each construct is greater than the correlation value between different constructs. In addition, the connection between exogenous constructs must be less than 0.850. A correlation value between constructs that exceed 0.850 indicates that the measurement model has a multicollinearity problem (Fornell & Larcker, 1981). Findings Demographic Analysis A total of 389 questionnaires were returned from the 400 questionnaires delivered to respondents, yielding a response rate of 97.3%. This response rate exceeds 60% and is considered sufficient to analyze the data without a significant risk of sample bias (Baruch & Holtom, 2008). Table 2 shows the demographic distribution of respondents. Most respondents are from the 30–39 age group, comprising 202 women entrepreneurs (51.93%). This is followed by the 40–49 (n = 133, 33.96%) and 50–60 (n = 55, 14.14%) groups. For the household income category, most respondents reported a monthly income of RM3,970–RM4,849, with 266 respondents (68.38%) falling within this range. This is followed by RM3,170–RM3,969 (n = 89, 22.8%), and RM2,500–RM3,169 (n = 34, 8.74%). The data also show that most respondents have low educational backgrounds. For example, more than 50% of the respondents have obtained a secondary education or a Sijil Pelajaran Malaysia (SPM; n = 276, 70.95%). Moreover, most respondents are married (213, 54.8%). This is followed by the single (n = 170, 43.7%) and divorce/widow (n = 6, 1.5%) categories. Next, most respondents have had business for 7 to 10 years, with 250 respondents (64.3%) falling into this category. This is followed by 4 to 6 years (n = 97, 24.9%), 11 to 20 years (n = 27, 6.9%), and 1 to 3 years (n = 15, 3.9%). Finally, most respondents own businesses in the food and beverage industry (n = 235, 60.41%). This is followed by beauty and healthcare (n = 86, 22.10%), apparel and fashion (n = 29, 7.46%), personal service (n = 22, 5.66%), home appliances (n = 11, 2.83%), information technology (n = 4, 1.03%), and others (n = 2, 0.51%). Table 2: Characteristics of Sampling Distribution (n=389) Profile Frequency (n) Percentage (%) Age 30–39 202 51.93 40–49 132 33.96 50–60 55 14.14 Household Monthly Income Less than RM2,500 0 0 RM2,500 – RM3,169 34 8.74 RM3,170 – RM3,969 89 22.88 RM3,970 – RM4,849 266 68.38 Academic Qualifications Peperiksaan Menengah Rendah (PMR) 0 0 Sijil Pelajaran Malaysia (SPM) 276 70.95 Sijil Tinggi Pelajaran Malaysia (STPM) 13 3.34 Foundation 50 12.85 Diploma 26 6.69 Bachelor’s degree 24 6.17 Post-graduate 0 0 Others 0 0 Marital Status Married 213 54.8 Divorce/Widow 6 1.5 Single 170 43.7 Business Lifespan (Years) 1–3 years 15 3.9 4–6 years 97 24.9 7–10 years 250 64.3 11–20 years 27 6.9 Types of Business Food & Beverage 235 60.41 Apparel & Fashion 29 7.46 Home Appliances 11 2.83 Information Technology 4 1.03 Personal Service 22 5.66 Beauty and Healthcare 86 22.10 Others 2 0.51 Common Method Bias Assessment The implementation of questionnaires introduces potential biases that may compromise the reliability and validity of research results. The assessment of common method bias (CMB) used Harman’s Single Factor Test through an unrotated exploratory factor analysis (EFA; Podsakoff et al., 2003). The analysis revealed that the first factor accounted for 26.35% of the total variance, which fell below the recommended threshold of 50%. The study results indicate that common method bias does not pose a significant challenge to this research. Reliability and Validity The analysis outcomes indicate that the fit index reaches an acceptable level: RMSEA = 0.064, CFI = 0.970, TLI = 0.960, and χ2 / df = 2.650. The factor loadings for the constructs are high, exceeding 0.60, which indicates that the items accurately represent the constructs. Table 3 highlights that the CR and AVE values exceed the minimum values of 0.70 and 0.50, respectively, for all variables. This reveals that the construct explains more than 50% of the variance in the indicators, and the indicators within the construct are stable and consistent in measuring the same latent construct. Table 3: Loading of Items, Composite Reliability (CR), and Average Variance Extracted (AVE) Variable Items Item Loadings AVE CR Public Policy PP1 0.887 0.743 0.958 PP2 0.864 PP3 0.827 PP4 0.850 PP5 0.890 PP6 0.873 PP7 0.849 PP8 0.858 National Culture NC1 0.814 0.626 0.893 NC2 0.808 NC3 0.800 NC4 0.756 NC5 0.779 Entrepreneurial Competencies EC1 0.810 0.688 0.916 EC2 0.882 EC3 0.879 EC4 0.820 EC5 0.749 Gender Inequality GI1 0.891 0.780 0.955 GI2 0.888 GI3 0.876 GI4 0.892 GI5 0.875 GI6 0.880 Sustainable Entrepreneurship Performance SEP1 0.830 0.667 0.933 SEP2 0.845 SEP3 0.820 SEP4 0.839 SEP5 0.780 SEP6 0.792 SEP7 0.810 Source: Authors’ calculations The discriminant validity analysis must be performed to verify that all measurement model constructs show minimal interconnection, as excessive relationships between them could lead to multicollinearity issues. Table 4 presents the discriminant validity index, which compares the square root of AVE values for constructs (values on the diagonal) and the correlations between constructs. The analysis results show that the square root of AVE values for each construct is greater than the correlations between different constructs. The correlation values between constructs were also found not to exceed 0.850 (Fornell & Larcker, 1981). This implies that the measurement model is free from multicollinearity problems. Table 4: Discriminant Validity Results No. Variable 1 2 3 4 5 1 Public Policy 0.861 2 National Culture 0.440*** 0.791 3 Entrepreneurial Competencies 0.530*** 0.460** 0.829 4 Gender Inequality −0.300*** −0.350*** −0.440*** 0.883 5 Sustainable Entrepreneurship Performance 0.490*** 0.410** 0.500*** −0.370*** 0.816 Note: Values in the diagonal show the square root of AVE Source: Authors’ calculations Hypothesis Testing For the mediation model, Table 5 shows significant relationships between public policy (β = 0.410, SE = 0.050, t = 8.20, p < 0.001), national culture ( β = 0.370, SE = 0.060, t = 6.17, p < 0.001), and entrepreneurial competencies ( β = 0.520, SE = 0.040, t = 13.00, p < 0.001) with sustainable entrepreneurial performance. Thus, H1 and H2 are established. Moreover, significant relationships exist between public policy ( β = 0.210, SE = 0.060, t = 3.50, p < 0.001), national culture ( β = 0.180, SE = 0.070, t = 2.57, p < 0.05), and entrepreneurial competencies. Mediation analysis is also discussed. The standardized indirect effects of entrepreneurial competencies revealed that public policy ( β = 0.210, 95% CI [0.140, 0.300]) and national culture ( β = 0.190, 95% CI [0.110, 0.280]) have partial mediating effects on sustainable entrepreneurship performance through a mediator. Thus, H3 and H4 are accepted. The total effects confirmed that public policy ( β = 0.420) and national culture ( β = 0.370) had significant overall influences on sustainable entrepreneurship performance. According to Preacher and Hayes (2008), the mediation effect occurs when the 95% bootstrap confidence interval (CI) value, which represents the lower limit (LLCI) and the upper limit (ULCI), is not at zero. Thus, the mediation effects are significant. Table 5: Result of Direct Effect and Mediation Analysis Path DV: Sustainable Entrepreneurship Performance β S.E t Public Policy 0.410*** 0.050 8.20 National Culture 0.370*** 0.060 6.17 Entrepreneurial Competencies 0.520*** 0.040 13.00 DV: Entrepreneurial Competencies Public Policy 0.210*** 0.060 3.50 National Culture 0.180* 0.070 2.57 Mediating Effect β S.E 95% CI Public Policy + Entrepreneurial Competencies 0.210*** 0.180 [0.140, 0.300] National Culture+ Entrepreneurial Competencies 0.190*** 0.230 [0.110, 0.280] Total Path Public Policy + Entrepreneurial Competencies 0.420*** 0.152 National Culture+ Entrepreneurial Competencies 0.370*** 0.260 Note: Significance level: ***p < 0.001, *p<0.05 Source: Authors’ calculations The results in Table 6 indicate that entrepreneurial competencies ( β = 0.525, SE = 0.018, t = 1.21, p < 0.001) and gender inequality ( β = −0.174, SE = 0.028, t = 1.34, p < 0.001) have a significant influence on sustainable entrepreneurship performance. Moreover, gender inequality moderates the relationship between entrepreneurial competencies ( β = −0.091, SE = 0.034, t = −2.68, p < 0.01) and sustainable entrepreneurship performance. Hence, H5 is accepted. As gender inequality increases, the effect of entrepreneurial competencies on sustainable entrepreneurship performance becomes weaker or reverses direction. This means that gender inequality reduces the positive effect of entrepreneurial competencies on sustainable entrepreneurship performance. Table 6: Result of Moderation Analysis Path DV: Sustainable Entrepreneurship Performance β S.E t Entrepreneurial Competencies 0.525*** 0.018 1.211 Gender Inequality −0.174*** 0.028 1.340 Moderating Effect β S.E t Entrepreneurial Competencies*Gender Inequality −0.091** 0.034 -2.68 No e: Significance level: ***p < 0.001, ** p < 0.01 Source: Authors' calculations Figure 3 illustrates the moderating role of gender inequality in the relationship between entrepreneurial competencies and sustainable entrepreneurship performance. The slope analysis reveals that the positive effect of entrepreneurial competencies on performance is more pronounced in environments with low gender inequality. In contrast, this relationship is significantly weakened when gender inequality is high, consistent with a significant adverse interaction effect ( β = −0.091, p < 0.01). Figure 4 portrays the final model of the study. Discussion The number of women has increased worldwide by almost half of the total population. Therefore, women have become a catalyst for national and societal development (Adom & Anambane, 2020; Tlaiss & McAdam, 2021). However, women often experience oppression in the employment sector, which hinders their ability to develop careers (Constantinidis, 2021). In the world of entrepreneurship, women often face numerous obstacles, including difficulties in securing financing, entering larger markets, networking, and overcoming discrimination due to their gender, as well as a lack of up-to-date business skills. These obstacles have prevented women from expanding their businesses, and some have been forced to close their businesses due to stagnation and lack of growth (Avnimelech & Zelekha, 2023; Franzke et al., 2022; Noor et al., 2024a). Therefore, this study was conducted to examine how government policies, national culture, competence, and gender inequality impact the performance of women entrepreneurs in the informal sector. This study was also conducted to examine the role of entrepreneurial competence as a mediator, which can strengthen the link between government policies, national culture, and the performance of women entrepreneurs. Ultimately, this study aims to investigate how gender inequality affects the relationship between entrepreneurial competence and sustainable entrepreneurship performance. This study has found that government policies and national culture influence the sustainable performance of women entrepreneurs. This means that the government and society influence the ability of women entrepreneurs to drive their businesses towards greater competitiveness. For example, studies by Capano and Galanti (2021), Ferreira and Dinis (2025), Peng and Tao (2022), and Mashapure et al. (2022) have found that tangible assistance, e.g., capital, infrastructure, and business tools, is only practical when intangible assistance, e.g., classes to improve motivation and skills, is also provided. Therefore, forms of assistance from the government must be comprehensive and practical. Studies have also found that when a country has a proactive, courageous, and excellent culture, entrepreneurial activity is viewed as a respected and highly regarded career. Tehseen et al. (2023) and Facchini et al. (2021) explained that if a country supports entrepreneurs, it can lead to a paradigm shift in changing someone’s fate to achieve greater success in life, and the field of business is viewed not only as a source of income but also as crucial to national development. Malaysia is a country with a collectivist culture; therefore, community support for entrepreneurship is considered very important in shaping entrepreneurial norms. In addition, the study findings also revealed that entrepreneurial competencies and gender inequality have a significant impact on the sustainable performance of women entrepreneurs. This finding demonstrates that the performance of women entrepreneurs is not only viewed from a macro perspective but also requires consideration from meso and micro perspectives. Excellent entrepreneurs are viewed as individuals who possess exceptional skills and talents. For example, a study by Chaturvedi (2025), Mohd Noor et al. (2024), Mokbel et al. (2024), and Pulka et al. (2021) found that entrepreneurs who are tenacious, farsighted, determined to learn, and able to adapt to the environment are more successful and able to bring their businesses to a larger market. In this rapidly developing world of technology, those with competence are seen as catalysts for building business capacity. Therefore, women entrepreneurs need a paradigm shift, i.e., that they should be more aggressive in improving their existing business skills. They should not feel inferior to their shortcomings and seek support, such as mentors, to help them manage their businesses. Women entrepreneurs also need to be more competitive by committing to improving their business performance on an annual basis (Amini Sedeh et al., 2022). For example, they can be determined to transition from an informal business to a formal one, which is perceived as more stable and generates higher income. Studies have also found that gender inequality hinders the sustainable performance of women entrepreneurs’ businesses. After more than a century, the struggle for women’s liberation and gender equality is still far from over, because discrimination, exploitation, and oppression against women still exist. Similarly, gender inequality is still evident (Rietveld & Patel, 2022). This is seen to be particularly true among Southeast Asian countries due to cultural factors that see women as having to be treated differently from a young age. Women are often perceived as incapable in critical sectors, such as business, and are frequently viewed unfavorably by society if they prioritize their professional pursuits excessively (Constantinidis, 2021; Tlaiss & McAdam, 2021). Women are also perceived as dominating businesses at lower levels and are not considered competitive (Ilie et al., 2021). Due to this, many women conduct business in the informal sector, with most operating businesses such as food and beverage establishments, typically at the local level. Therefore, the government and society are seen as catalysts that can support the performance of women entrepreneurs. A mindset that considers the high capabilities of women should be focused on (Dogan & Aykan, 2025; Franzke et al., 2022). For example, the existence of female entrepreneur figures and large-scale empowerment programs for entrepreneurs should be encouraged. This study has yielded different findings compared to previous studies, as they have focused more on male entrepreneurs in general. Studies that focus on women entrepreneurs from low-income groups are rarely studied, while in fact, this group often faces discriminatory barriers in society. Therefore, this study can provide up-to-date information on how cultural and social barriers need to be addressed to ensure that female entrepreneurs can be competitive. By examining the influence of government policies and national culture on the sustainable performance of women entrepreneurs and considering entrepreneurial competence as a mediator and gender inequality as a moderator, this study has provided a more comprehensive framework. This comprehensive approach measures the performance of women entrepreneurs through various pathways, rather than occurring directly. Therefore, training and capacity building, as well as policy implications that target both genders, are very much needed. The inclusion of a moderator, namely, gender inequality, in this study is very relevant in the context of Southeast Asian countries such as Malaysia because women are often viewed as weak and uncompetitive. Furthermore, most previous studies examine the performance of entrepreneurs from a general perspective, and financial and non-financial metrics are rarely highlighted. In line with the Sustainable Development Goals, this study examines the economic, social, and environmental performance of women entrepreneurs. The findings can inform government programs and entrepreneurial support systems that specifically target women from low-income communities. By connecting policy, culture, and gender dynamics to sustainable efficiency and outcomes, this study supplies a blueprint for effective and comprehensive interventions. The results of this study have contributed to the latest data for women entrepreneurship studies, as many previous studies have focused more on the formal sector and financial business performance. This study has validated its findings from three perspectives: macro, meso, and micro. Therefore, women entrepreneurs should view their businesses from different contexts, i.e., from external and internal factors (Audretsch et al., 2022). The scope of macro and meso elements on the road restricts women entrepreneurs, as these systems perpetuate traditional gender expectations that force women to dedicate more time to childcare rather than pursuing economic success. The efficiency of economic development increases when female entrepreneurs receive equal business opportunities as male entrepreneurs (Ilie et al., 2021; Franzke et al., 2022). This environment affects the performance of women’s entrepreneurship. The microenvironment is more focused on the individual structure, where entrepreneurs’ skills, abilities, creativity, and talent lead to the competitiveness aspect (Nziku & Henry, 2021; Plika et al., 2021). As practical implications, the government must create an entrepreneurial ecosystem that supports business growth, which should include the existence of a centralized and comprehensive database, an entrepreneurial policy framework, and a practical resource allocation framework. Because informal sector entrepreneurs, who are often not registered and predominantly come from low-income groups, lack access to government assistance and support, the existence of this database is crucial to ensure that no entrepreneur is left behind (Kitole & Genda, 2024). The government, in collaboration with relevant agencies, should introduce the latest training modules that meet current industry and market requirements, utilizing qualified and experienced facilitators who are industry experts, academics, and representatives from corporate companies. The government should also help businesses access funding through loan support, capital investment assistance, and guidance on financing resources for women entrepreneurs. A standard network platform must be established to connect women entrepreneurs with those who have achieved success. Creating these platforms or events enables women entrepreneurs to exchange experiences and knowledge. Women-focused platforms, such as the Women Entrepreneurs Networking Association (WENA) and the Strivers’ Hub, offer mentoring, workshops, and networking opportunities tailored to the needs of female entrepreneurs. More support is needed to develop digital applications or solutions that can enhance business operation efficiency. To summarize, the study provides the following suggestions to policymakers: To plan, formulate, and update macro, micro, and sectoral policies related to entrepreneurship in alignment with the government’s strategic direction and current policies. To conduct strategic research and studies on entrepreneurship. To reinforce strategic relationships and collaborations at the international level, enhancing Malaysia’s role in entrepreneurship development. To monitor and assess the effectiveness of policy implementation, as well as the achievement of outputs and outcomes. Community and family also require emotional and motivational support to help women entrepreneurs overcome entrepreneurial challenges and enhance their mental well-being. Welsh et al. (2021) found that support from husbands can reduce the work-family role conflict experienced by working women. Husbands need to provide both emotional and financial support in terms of managing the family. Furthermore, national leaders’ primary responsibility is to reduce the gender gap through policies and strategic measures prioritizing equality and justice for both genders. In addition, further studies are needed so that policymakers, activists, government, and non-governmental organizations can take the initiative to design gender-related entrepreneurship programs that are sensitive to cultural and religious diversity in Malaysia. The process of achieving gender equality, or at least reducing the gender gap, is a significant theme emphasized in all feminist theories. For feminists, gender equality can only be achieved if the gap between women and men in economic, social, and political aspects is eliminated. Women’s empowerment is one of the important elements in achieving gender equality. Through employment, they can make decisions to mobilize resources for their progress and well-being (Ilie et al., 2021; Franzke et al., 2022). Conclusion Despite the increasing number of women in Malaysia who are entering entrepreneurship, particularly in small and medium-sized enterprises (SMEs), it remains relatively small compared to that of male entrepreneurs. Starting a business is no easy feat, especially for women from low-income groups. The study results have successfully demonstrated the impact of government policy, national culture, entrepreneurial competence, and gender inequality on the sustainable business performance of women entrepreneurs. The study has also revealed that entrepreneurial competence acts as a mediator, while gender inequality acts as a moderator, in mitigating the impact of competence on business performance. This study has produced significant and valid findings, highlighting both external and internal factors that support the performance of women entrepreneurs in the context of informal sector entrepreneurs and developing countries. This study is expected to assist the government in formulating future strategies that are more inclusive and focused. Researchers have also identified several limitations of the study that warrant attention. First, the data of this study are limited to and only focused on women entrepreneurs from low-income groups in Selangor and Kuala Lumpur. Therefore, to improve generalization, future studies should expand the sample scope to include other states or different contexts. Second, this study employed a cross-sectional study technique, which cannot detect changes that occur over a specific period. For example, the performance of entrepreneurs may differ over a specific period. Therefore, future studies should employ longitudinal techniques to observe the changes or development of the research sample. This makes it easier for researchers to track the changes and development of the sample over time. The study also examined only a few indicators that influence women’s entrepreneurial performance. Therefore, future studies are expected to enhance the research model by incorporating several mediating and moderating variables that can impact the performance of entrepreneurs. For example, factors such as family background, personality influences, family support, type of business venture, and others. Declarations Funding This research was funded by the FRGS-EC/1/2024/SS01/UITM/02/40 grant code from the Ministry of Higher Education (MoHE), Malaysia. Disclosure of potential conflicts of interest The authors have no competing interests to declare that are relevant to the content of this article. Ethics Statement Approval for the study was granted by the appropriate ethics committee [details omitted for blinded review]. Informed consent All participants provided informed consent prior to their involvement in the study. Data were anonymized prior to analysis to maintain participant confidentiality. Author Contribution Nurul Hidayana Mohd Noor prepared the original draft and handled the revisions. Azizan Zainuddin led data collection and contributed to writing the original draft. Ibraheem Saleh Al Koliby performs validation of findings. Mohammed A. Al-Hakimi led data interpretation. All authors reviewed the manuscript. Acknowledgement This research was funded by the FRGS-EC/1/2024/SS01/UITM/02/40 grant code from the Ministry of Higher Education (MoHE), Malaysia. 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1","display":"","copyAsset":false,"role":"figure","size":66229,"visible":true,"origin":"","legend":"\u003cp\u003e\u003cstrong\u003eMacro-Meso-Micro Perspectives of Sustainable Entrepreneurship Performance\u003c/strong\u003e\u003c/p\u003e","description":"","filename":"1.png","url":"https://assets-eu.researchsquare.com/files/rs-8311709/v1/7ed8e96f6c60e5552cd9f626.png"},{"id":100585304,"identity":"f3d107e7-f12a-4184-a8f2-596dc490539f","added_by":"auto","created_at":"2026-01-19 11:51:32","extension":"png","order_by":2,"title":"Figure 2","display":"","copyAsset":false,"role":"figure","size":29445,"visible":true,"origin":"","legend":"\u003cp\u003e\u003cstrong\u003eResearch Model\u003c/strong\u003e\u003c/p\u003e","description":"","filename":"2.png","url":"https://assets-eu.researchsquare.com/files/rs-8311709/v1/5d586f930a3e5925f78a5bc1.png"},{"id":100585239,"identity":"4fafc9d8-7662-439e-acba-8980463dc0f8","added_by":"auto","created_at":"2026-01-19 11:51:03","extension":"png","order_by":3,"title":"Figure 3","display":"","copyAsset":false,"role":"figure","size":124685,"visible":true,"origin":"","legend":"\u003cp\u003e\u003cstrong\u003eModeration Slope Graph\u003c/strong\u003e\u003c/p\u003e","description":"","filename":"3.png","url":"https://assets-eu.researchsquare.com/files/rs-8311709/v1/d3733669a19b421cad9419f7.png"},{"id":100585288,"identity":"e5e5f8ed-7f62-4a3f-bc5a-86178b6c0ac7","added_by":"auto","created_at":"2026-01-19 11:51:31","extension":"png","order_by":4,"title":"Figure 4","display":"","copyAsset":false,"role":"figure","size":50689,"visible":true,"origin":"","legend":"\u003cp\u003e\u003cstrong\u003eFinal Research Model\u003c/strong\u003e\u003c/p\u003e","description":"","filename":"4.png","url":"https://assets-eu.researchsquare.com/files/rs-8311709/v1/0d0dcf8868c67571f01bf168.png"},{"id":100597685,"identity":"1d993f7e-0581-4908-9f77-ca6638acf278","added_by":"auto","created_at":"2026-01-19 14:20:03","extension":"pdf","order_by":0,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":1598879,"visible":true,"origin":"","legend":"","description":"","filename":"manuscript.pdf","url":"https://assets-eu.researchsquare.com/files/rs-8311709/v1/08891922-cf0d-4b24-a510-88faaa9556ef.pdf"}],"financialInterests":"No competing interests reported.","formattedTitle":"Sustainability Performance of Women Entrepreneurs in Developing Countries: A Multidimensional Analysis of Public Policy, Culture, Competencies, and Gender Factors in Entrepreneurship","fulltext":[{"header":"Introduction","content":"\u003cp\u003eAn essential prologue expressing that women are the core contributors to national development for future growth cannot be denied. Providing women with greater access to education, training, and capital is a crucial step in increasing their representation in entrepreneurship (Ahl et al., 2024; Mukherjee et al., 2025; Shahriar, 2018). Gender bias still exists in many aspects of life, including in the business world. Women often face prejudice or discrimination in terms of access to resources and business opportunities (Avnimelech \u0026amp; Zelekha, 2023; Franzke et al., 2022; Noor et al., 2024a). In contrast to men, women must consistently fulfil two essential duties (Adom \u0026amp; Anambane, 2020), i.e., they face more complications in harmonizing work and life because they have family responsibilities and, simultaneously, they need to care for children and fulfil domestic duties (Ilie et al., 2021; Noor et al., 2024a).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eIn Malaysia, gender discrimination has existed for a long time because it has taken root in the lives of local communities (Adom \u0026amp; Anambane, 2020; Noor et al., 2022). Since childhood, we are often confronted with a stereotype that separates men from their masculinity and women from their femininity (Avnimelech \u0026amp; Zelekha, 2023; Constantinidis, 2021). Gender equality is one of the targets outlined in the Sustainable Development Goals (SDGs), a United Nations (UN) initiative. The SDGs\u0026rsquo; fifth goal emphasizes the importance of equality in national development and participation. As an Islamic country, there is a misconstrued belief in Malaysia that Islam is trying to control the rights and roles of women, and there is a spread of false facts about religiously based practices (Tlaiss \u0026amp; McAdam, 2021).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eMost women entrepreneurs face challenges such as the lack of funding, increased operating costs, limited access to business networks, weaknesses in business management, inadequate mental support, insufficient business resources, and business skills that are too generic and weak (Pineda Duque \u0026amp; Castiblanco Moreno, 2022). To help women entrepreneurs remain competitive, the Malaysian government has introduced various programs and initiatives that enable them to penetrate both local and international markets. The National Entrepreneurship Policy (DKN 2030) provides guidance and a framework for the government to ensure that the entrepreneurial ecosystem is inclusive, where every entrepreneur in various sectors benefits from the planned plans and initiatives. Government agencies not only function as regulators, but also as facilitators, assistance providers, and capacity builders (Arnold, 2021; Capano \u0026amp; Galanti, 2021; Pulka et al., 2021). Government agencies also offer various incentives, including tax exemptions, business grants, training and development, and networking platforms (Audretsch et al., 2022; Henry, 2021).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eDespite the various programs and activities introduced by the government, they are still not effectively targeted, with many entrepreneurs still missing the intended target. The government is also perceived as focusing solely on planning but failing to implement entrepreneurial programs. A study by Arnold (2021) observed that government agencies commonly embrace a wait-and-see approach and are not drawn into their clients to determine the entrepreneurs\u0026rsquo; demands. Sometimes, the assistance offered is only half-hearted. Mashapure et al. (2022) noted that the government has substantially supported small businesses through various grant programs. Still, the entry-level requirements for government financial aid and credit are minimal.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eEntrepreneurship is closely linked to a society\u0026rsquo;s social and cultural context (Facchini et al., 2021; Kara \u0026amp; Dheer, 2023; Tehseen et al., 2023). As culture is a notable factor in entrepreneurship circumstances, a country is required to foster a culture that espouses entrepreneurship (Achim et al., 2021; Lounsbury et al., 2021). Furthermore, entrepreneurial performance also varies according to entrepreneurial competencies, which refer to a person\u0026rsquo;s capability or ability to carry out entrepreneurial roles effectively (Amini Sedeh et al., 2022; Hussain et al., 2022; Ibidunni et al., 2022). Even though conducive public policy and entrepreneurial competencies exist, they will be less profound if they are not met with a foundation from all parties (Avnimelech \u0026amp; Zelekha, 2023; Franzke et al., 2022; Noor et al., 2024b). Academic researchers who consider gender bias in entrepreneurship are aware of this problem.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eThis study aims to close several research gaps. Studies tend to focus more on the external aspects of entrepreneurship, such as the role of law and policy, the importance of business loans and investments, and investor support (e.g., Amini Sedeh et al., 2022; Hussain et al., 2022; Mokbel et al., 2024). However, the interaction between environmental factors and internal factors, such as entrepreneurial competence, remains underexplored by researchers. Hence, by examining macro (i.e., public policy and national culture), meso (i.e., gender inequality), and micro (i.e., entrepreneurial competencies) levels, this study aims to provide new insights into the current literature on women entrepreneurship. Furthermore, studies that estimate the direct and indirect impacts of gender inequality on the performance of sustainable entrepreneurship are scarce (Franzke et al., 2022). Next, most prior research samples do not include the population of women entrepreneurs in developing countries. This gap occurs because the sample population of previous research is too small and less varied. Thus, new research needs to increase the scope of the sample to be representative and substantial enough to generate valid decisions on women\u0026rsquo;s entrepreneurship performance. The research objective is to motivate governments to create policies that support the development of women entrepreneurship, as this approach would boost worldwide productivity and effectiveness. The research results enable women to participate more actively in economic activities, which supports both gender equality and Malaysian economic expansion. Hence, considering the gap, the study\u0026rsquo;s objectives are threefold:\u003c/p\u003e\n\u003cp\u003eRO1. To examine how public policy and national culture affect women\u0026rsquo;s entrepreneurship performance.\u003c/p\u003e\n\u003cp\u003eRO2. To assess the role of entrepreneurial competencies in mediating the relationship between (a) public policy, (b) national culture, and women\u0026rsquo;s entrepreneurship performance.\u003c/p\u003e\n\u003cp\u003eRO3. To assess the moderating role of gender inequality in the relationship between entrepreneurial competencies and women\u0026rsquo;s entrepreneurship performance.\u003c/p\u003e"},{"header":"Literature Review and Hypothesis Development","content":"\u003cp\u003e\u003cstrong\u003eSustainable Entrepreneurship Performance\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe modern business environment utilizes sustainability as a strategic factor that influences an organization\u0026rsquo;s path and public perception (Agrawal et al., 2022). The Triple Bottom Line (TBL) concept provides a fresh perspective that transforms business success evaluation methods. The business model now requires financial success alongside its impact on human welfare and environmental protection. John Elkington introduced the concept, which demonstrates that financial success must align with social welfare and environmental sustainability standards (Agrawal et al., 2022). Businesses recognize that sustainability serves as a strategic advantage, enabling them to thrive in markets where transparency and ethical standards continue to increase. Consumers are becoming more critical; they not only see the product, but also the value behind it. The environmental conservation aspect in business concerns is no longer just a corporate social responsibility (CSR) but instead needs to be an enabler in growing business and producing new value. Businesses must prioritize efforts to foster and implement a culture of environmental sustainability, including the adoption of data intelligence systems, effective waste management, energy efficiency, renewable energy sources, recycling bins, and intelligent logistics systems that help reduce carbon emissions. Business owners must consider the impact of their decisions on society and the environment and strive to contribute to a better world for current and future generations by taking responsibility for their actions.\u003c/p\u003e\n\u003cp\u003eNevertheless, while social and environmental features are significant, profit remains the principal of business existence. Consistent profits enable businesses to invest in innovation, expand into new markets, and improve employee well-being. Financially profitable businesses are also better able to successfully execute social and environmentally friendly programs (Goni et al., 2021). An equilibrium between the environment, community, and profit models the footing of a sustainable business. Businesses that adopt this method not only gain the economic advantage of expansion but also have a positive impact on society and the planet. Eventually, these stable businesses are more viable in the long run, as they cater to the needs of numerous stakeholders, including customers, employees, and investors (Goni et al., 2021).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eMacro-Meso-Micro Perspectives\u0026nbsp;\u003c/strong\u003e\u003cstrong\u003eof Sustainable Entrepreneurship Performance\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eMacro-meso-micro perspectives justify more objects as broad as social institutions, systems, culture, and society as a general whole. Figure 1 illustrates the study frame underlying the macro-meso-micro perspectives. Macro is defined as a form of social bond that interweaves among several social groups in the community, accommodating all forms of different interests and abilities, and ultimately providing the impetus for development (Vlados \u0026amp; Chatzinikolaou, 2020). This study\u0026rsquo;s macro level refers to the effect of public policy on the growth of women\u0026rsquo;s entrepreneurship. The government will formulate policies, strategies, and action plans to support the development and empowerment of entrepreneurs and strengthen the governance and regulatory system to promote inclusive, balanced, and sustainable entrepreneurial development (Audretsch et al., 2022; Nziku \u0026amp; Henry, 2021; Pulka et al., 2021).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eFurthermore, using the macro level, this study also examines the outcome of the national effect. Malaysia is a multi-racial country, with its population predominantly comprising Malays, Chinese, and Indians. Malaysia is home to a diverse range of ethnic groups, each with unique and distinct cultural identities, as well as shared similarities. Entrepreneurial behavior is correlated to cultural appraisals, which are grounded in Hofstede\u0026rsquo;s background of cultural elements (Tehseen et al., 2023; Facchini et al., 2021). In highly individualistic cultures, where autonomy is valued, entrepreneurs who demonstrate high self-confidence, bravery, and capability are highly appreciated and supported (Achim et al., 2021). Hence, cultural magnitudes become a tool used to explain the key aspects of culture, providing a perspective for entrepreneurial performance (Facchini et al., 2021; Kara \u0026amp; Dheer, 2023; Tehseen et al., 2023).\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eSubsequently, meso networks are integral to the social process and interaction within the community\u0026rsquo;s social group. The gender model is socially assembled and, consequently, can change from one culture to another. Nevertheless, all societies are, to some extent, described by patriarchy in the sense that there is a form of social organization in which men control women and a cultural observation of male superiority. These gender differences are incessantly transferred through socialization (Avnimelech \u0026amp; Zelekha, 2023). The socialization process, or the internalization of societal norms and values regarding role expectations, is often cited as a justification for the existence of gender differences in entrepreneurship. It also describes how these social constructions of gender variations have changed the rates and opportunities for women to contribute to national development (Ilie et al., 2021; Franzke et al., 2022). A micro network manifests social relationships between individuals as smoothing, bridging, and adhering. Ibidunni et al. (2022) argued that key competencies are essential for an entrepreneur\u0026rsquo;s success. This viewpoint is proved by Amini Sedeh et al. (2022) and Mokbel et al. (2024). Entrepreneurs can lead and inspire subordinates to bring about ideas for change. An entrepreneur should also be able to persist in addressing business problems over a long period (Hussain et al., 2022).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eThe Influence of Public Policy on Sustainable Entrepreneurship Performance\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe Malaysian government, along with its agencies, remains committed to providing various targeted assistance and intervention programs aimed at enhancing business capabilities and entrepreneurial skills among women entrepreneurs. The Ikhtiar Financing Scheme (SPI) from \u003cem\u003eAmanah Ikhtiar Malaysia (AIM)\u003c/em\u003e and the TEKUN Wanita from TEKUN Nasional are among the available programs. The government supports women entrepreneurs through various incentives tailored to their specific needs and requirements. The programs offer financial support through grants and microloans and deliver technical training to participants. The government also provides tax benefits to women entrepreneurs who choose to invest their money in particular business sectors (Ahl et al., 2024; Arnold, 2021). Businesses can lower their operational expenses through government-backed tax benefits. Businesses that receive tax incentives will experience both reduced tax liabilities, enhanced cash flow, and expanded operations (Arbelo-P\u0026eacute;rez et al., 2025).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eThis business aid can obliquely help business owners without substantial capital develop their businesses (Peng \u0026amp; Tao, 2022). Notionally, the effect of government policy on business can be described from a political or technical viewpoint (Capano \u0026amp; Galanti, 2021). From a political perspective, the policies implemented by a government vary primarily according to the government\u0026apos;s political ideologies, principles, traditions, and the type of governance practiced (Arbelo-P\u0026eacute;rez et al., 2025). Policy in a communist country will be distinct from that in a democratic or monarchical country. The government policy in a politically stable country will also be distinct from that of an unstable country (Audretsch et al., 2022). A country cannot create a sustained business-friendly environment or policy in the presence of a negative political culture (Ahl et al., 2024; Mart\u0026iacute;nez-Rodr\u0026iacute;guez et al., 2022).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eFrom a technical viewpoint, policies such as taxation, subsidies, interest rates, and exchange rates can directly and indirectly impact business performance (Kassaye et al., 2025). A high tax rate on imported products would encourage local entrepreneurs to produce goods domestically (Arnold, 2021). However, a high tax rate on raw materials will impede domestic production and encourage the importation of raw materials. Likewise, bank lending rates and government financial policies can also affect the economy (Audretsch et al., 2022). The increase in interest rates will lead to decreased investment, as businesspeople would not borrow at unrealistic rates. Governments establish rules and regulations that govern the way businesses can compete against one another. Business is thus profoundly altered by government policies (Mashapure et al., 2022; Nziku \u0026amp; Henry, 2021; Pulka et al., 2021). Therefore, based on the prior discussion and empirical evidence, this study hypothesizes that:\u003c/p\u003e\n\u003cp\u003eH1. Public policy significantly affects women\u0026apos;s entrepreneurship performance.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eThe Influence of National Culture on Sustainable Entrepreneurship Performance\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe literature has repeatedly focused on the relationships between cultural values, beliefs, and entrepreneurial behaviors (Achim et al., 2021; Facchini et al., 2021; Kara \u0026amp; Dheer, 2023; Tehseen et al., 2023). Due to its influence on beliefs, intentions, and actions, culture could impact entrepreneurial endeavors (Ferreira \u0026amp; Dinis, 2025). Cultural values influence the magnitude of society\u0026rsquo;s values, such as entrepreneurial behaviors, risk-taking, and independent reasoning (Kara \u0026amp; Dheer, 2023). Cultures that value and reward such behaviors inspire the propensity to present and advance fundamental innovations. In contrast, entrepreneurial behavior is less prevalent in cultures that encourage behaviors subject to traditions and rules, group interests, and control over the future (Achim et al., 2021). Entrepreneurs are inclined to take risks and make improvements, as vagueness is a natural part of economic life (Lounsbury et al., 2021).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eWith acknowledgment of entrepreneurship, culture completes itself as the instrumentalist, and the entrepreneur serves as the mechanism. Even though the influence of culture on entrepreneurship is a generally accepted conviction, a consensus on the severity and form of this influence has yet to be reached. According to Facchini et al. (2021), culture has a significant influence on attitudes toward entrepreneurship and drives entrepreneurship. For example, democratic cultures inspire individuals to try improvements and make new efforts, which naturally boost entrepreneurial tendencies (Tehseen et al., 2023). More egalitarian and democratic groups have a significant influence on the development and evolution of entrepreneurial identity. As culture improves personal attributes and excludes others, some cultures become more prone to entrepreneurial direction when compared to other cultures (Facchini et al., 2021). Therefore, this study hypothesizes that:\u003c/p\u003e\n\u003cp\u003eH2. National culture has a significant impact on the performance of women\u0026rsquo;s entrepreneurship.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eMediating Effect of Entrepreneurial Competencies\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eEntrepreneurs will not flourish without effort if they are easily discouraged. Many successful entrepreneurs possess something that others lack, namely, specific competencies (Ismail, 2022). Entrepreneurial competency refers to a person\u0026rsquo;s ability to perform entrepreneurial functions more efficiently in accordance with their duties as an entrepreneur (Amini Sedeh et al., 2022). The initiative is one of the foremost entrepreneurial competencies because this trait enables entrepreneurs to efficiently assess and examine a situation or circumstance (Hussain et al., 2022). A genuine entrepreneur will be sensitive and always emphasize the quality and standards of their work. Only with quality work can the entrepreneur expand the market and further improve the performance and image of the business (Chaturvedi, 2025; Mohd Noor et al., 2024). Entrepreneurs seeking success must be able to solve problems by generating new ideas or innovative solutions to existing problems (Mokbel et al., 2024). Pulka et al. (2021) emphasize that entrepreneurial competency catalyzes economic success. An entrepreneur\u0026rsquo;s success largely depends on recognizing and seizing the opportunities around them (Ibidunni et al., 2022).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eAn entrepreneur should possess the skills to translate ideas into reality, which can persuade other parties to participate in entrepreneurial activities (Amini Sedeh et al., 2022). It indirectly helps persuade suppliers to extend the credit period and convince customers of the value of the products or services provided (Mokbel et al., 2024). Through this study, entrepreneurial competence acts as a mediator variable, encompassing the entrepreneur\u0026rsquo;s ability and skills in identifying opportunities, managing risks, strategically managing the business, and finding opportunities for improvement that can provide multiple benefits to the entrepreneur\u0026rsquo;s performance (Chaturvedi, 2025; Mohd Noor et al., 2024). The positive impact of public policy and national culture can only be fully realized in better sustainable entrepreneurial performance when individuals possess adequate entrepreneurial competencies (Ibidunni et al., 2022; Mokbel et al., 2024). Considering the discussion that has been presented, this study asserts that:\u003c/p\u003e\n\u003cp\u003eH3. Entrepreneurial competencies mediate the relationship between public policy and women\u0026rsquo;s entrepreneurship performance.\u003c/p\u003e\n\u003cp\u003eH4. Entrepreneurial competencies mediate the relationship between national culture and women\u0026rsquo;s entrepreneurship performance.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eModerating Effect of Gender Inequality\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe topic of gender equality is a sign of recognition in politics that rights, opportunities, and safeguards are afforded to every individual regardless of gender or age (Constantinidis, 2021; Tlaiss \u0026amp; McAdam, 2021). The issue of gender equality has been promoted to the fifth pillar of the SDG as endorsed by the UN (Franzke et al., 2022). Gender inequality that regularly occurs around us cannot indeed be detached from the role of the patriarchal system that is already embedded. Rietveld and Patel (2022) revealed that societies that adhere to a social system always use patriarchy as a target in examining the relationships that are intertwined in social structures and functions. The continuation of this patriarchy places men in a position that is always superior to women, thus improving the scheme of male dominance, which influences the narrow space for women to move and develop (Shahriar, 2018). In the modern workforce, fostering gender equality is crucial for creating a comprehensive and equitable business environment (Adom \u0026amp; Anambane, 2020; Constantinidis, 2021; Tlaiss \u0026amp; McAdam, 2021). The multiple responsibilities faced by female entrepreneurs can harm their careers, especially when they do not receive the necessary support (Dogan \u0026amp; Aykan, 2025; Franzke et al., 2022; Ilie et al., 2021).\u003c/p\u003e\n\u003cp\u003eFurthermore, past studies have also discovered that traditional societal practices, which have been established for a long time and are difficult to change (Franzke et al., 2022; Shahriar, 2018). The practice of discrimination against women stems from local customs rather than Islamic teachings (Avnimelech \u0026amp; Zelekha, 2023; Love et al., 2024). The success of women\u0026rsquo;s workforce participation in Malaysia depends on policies that offer comprehensive support to women, as these policies will create lasting economic benefits for both women and the nation (Adom \u0026amp; Anambane, 2020). This study suggests that gender inequality serves as a moderator variable in the relationship between entrepreneurial competence and sustainable business performance among female entrepreneurs. This is based on the argument that individuals with high competence who face discrimination challenges will face greater challenges in managing a business than those who do not face any discrimination (Rietveld \u0026amp; Patel, 2022). This means that entrepreneurial competence is critical; however, if the environment is not favorable, it can hinder an entrepreneur\u0026rsquo;s ability (Constantinidis, 2021; Tlaiss \u0026amp; McAdam, 2021). Studies by Love et al. (2024) and Malisetti and Singh (2025) confirm that gender inequality functions as a moderator that affects business success by showing how social structures influence competency-performance relationships. Consequently, gender inequality was selected as a moderator to recognize how contextual factors affect the value of entrepreneurial competencies. Consequently, based on the literature, it can be asserted that:\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eH5. Gender inequality moderates the relationship between entrepreneurial competencies and the performance of women\u0026rsquo;s entrepreneurship.\u003c/p\u003e\n\u003cp\u003eFigure 2 illustrates the research model for this study. In this model, public policy and national policies are predicted to have a direct effect on entrepreneurial competencies, which in turn mediate the relationship by transferring some or all their influences on sustainable entrepreneurship performance. Additionally, the interfering variable serves as a factor that alters the strength or direction of the relationship between entrepreneurial competencies and\u0026nbsp;sustainable entrepreneurial performance. This path of impact illustrates how the original effect of the independent variable flows through the mediating variable before being influenced by the interfering variable. Ultimately, it determines the outcome of the dependent variable.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e"},{"header":"Methodology","content":"\u003cp\u003eThe study population consisted of women entrepreneurs from low-income groups (B40) in Selangor and Kuala Lumpur, Malaysia. Based on the proportional sampling formula (Krejcie \u0026amp; Morgan, 1970), the minimum number of samples needed for N at a 95% confidence level is 384 women entrepreneurs. Nevertheless, this sample size was increased to 400 people based on the opinions of Nulty (2008), who stated that a larger sample size is better for increasing reliability, reducing sampling errors, and minimizing the possibility of non-returned questionnaires and data outlier problems. Kline (2023) suggested that the calculation of sample size is based on the formula 10 times the number of latent variables, indicating that the model should be more stable and the analysis results more reliable. Thus, the minimum sample size is 50 (i.e., 10 \u0026times; 5 latent variables).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eA purposive sampling technique was used to select the study sample. Purposive sampling is a sampling technique that involves selecting a sample that accurately represents the population being studied. The evaluation is taken, of course, when specific criteria appropriate to the research topic are met. The measures involved women entrepreneurs from Selangor and Kuala Lumpur who are over 30 years old, work in the informal sector, and belong to the bottom 40% (B40) income group. Respondents were selected through purposive sampling, a procedure where questionnaires were only given to respondents who had fulfilled the prescribed criteria. Since this population is specific and not readily available through completely random sampling, the application of purposive sampling is suitable. This ensures that the data collected is accurate and relevant to the study\u0026rsquo;s purposes.\u003c/p\u003e\n\u003cp\u003eThis study applied a self-administered questionnaire instrument. The measurement of public policy is tailored to Ostapenko\u0026rsquo;s (2016) study. National culture and gender inequality items were modified according to Naidu and Chand (2017). The measurement of items for entrepreneurial competencies was altered from Man et al.\u0026rsquo;s (2008) scale. Lastly, sustainable performance items were taken from Agrawal et al. (2022) and Lee and Roh (202). Each item was determined using a 5-point Likert scale with a value of 1 = \u0026ldquo;strongly disagree\u0026rdquo; to 5 = \u0026ldquo;strongly agree.\u0026rdquo; This questionnaire instrument underwent a content and face validity process by appointed experts. A panel of experts was required to review and provide views and suggestions to reduce errors in the study instrument. This was followed by a pilot study (n = 40) to assess the feasibility and reasonableness of the study before conducting the actual field survey. Weiner (2007) explained that Cronbach\u0026rsquo;s alpha value with high reliability equals or exceeds 0.70. As shown in Table 1, the study instruments meet the reliability assumption.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTable 1: Measurement of Variables\u003c/strong\u003e\u003c/p\u003e\n\u003cdiv\u003e\n \u003ctable border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"604\"\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd style=\"width: 119px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eConstructs\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 325px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eItems\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 161px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eCronbach\u0026apos;s Alpha\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"width: 119px;\"\u003e\n \u003cp\u003ePublic Policy\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 325px;\"\u003e\n \u003col\u003e\n \u003cli\u003eCorresponds to the preferences of the macroeconomic environment of business.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eCorresponds to the preferences of total government legislation and regulations.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eCorrespondence to preferences for the development of the market economy institutions.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eCorresponds to the preferences of government support measures and programs.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eCorresponds to the government\u0026apos;s infrastructure preferences for businesses.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003ePolicymakers are aware of the importance of entrepreneurial activity.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eGovernment actions in the field of entrepreneurship are efficient.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eThe level of influence of public policy on business development.\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 161px;\"\u003e\n \u003cp\u003e0.880\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"width: 119px;\"\u003e\n \u003cp\u003eNational Culture\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 325px;\"\u003e\n \u003cp\u003e1.\u0026nbsp; \u0026nbsp;\u0026nbsp;My national culture supports and values individual success obtained through personal effort.\u003c/p\u003e\n \u003cp\u003e2.\u0026nbsp; \u0026nbsp;\u0026nbsp;My national culture emphasizes self-sufficiency, autonomy, and personal initiative.\u003c/p\u003e\n \u003cp\u003e3.\u0026nbsp; \u0026nbsp;\u0026nbsp;My national culture stimulates creativity and innovation.\u0026nbsp;\u003c/p\u003e\n \u003cp\u003e4.\u0026nbsp; \u0026nbsp;\u0026nbsp;National culture supports awareness of women\u0026rsquo;s contributions in business.\u003c/p\u003e\n \u003cp\u003e5.\u0026nbsp; \u0026nbsp;\u0026nbsp;My national culture emphasizes that individuals are responsible for managing their lives.\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 161px;\"\u003e\n \u003cp\u003e0.789\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"width: 119px;\"\u003e\n \u003cp\u003eEntrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 325px;\"\u003e\n \u003col\u003e\n \u003cli\u003eI can develop long-term trusting relationships with others.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI negotiate with others.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI apply ideas, issues, and observations to alternative contexts.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI determine long-term issues, problems, or opportunities.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI manage my firm effectively.\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 161px;\"\u003e\n \u003cp\u003e0.890\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"width: 119px;\"\u003e\n \u003cp\u003eGender Inequality\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 325px;\"\u003e\n \u003col\u003e\n \u003cli\u003eWomen often do not receive adequate education and training compared to men.\u003c/li\u003e\n \u003cli\u003eSociety expects women\u0026apos;s primary roles to be taking care of children and doing housework.\u003c/li\u003e\n \u003cli\u003eWomen often have more difficulty accessing business capital than men.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eWomen have more difficulty building social networks compared to men.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eWomen often lack the tendency to acquire quality business information.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eDiscrimination against women in society is evident.\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 161px;\"\u003e\n \u003cp\u003e0.870\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd style=\"width: 119px;\"\u003e\n \u003cp\u003eSustainable Entrepreneurship Performance\u003c/p\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 325px;\"\u003e\n \u003col\u003e\n \u003cli\u003eMy customers are highly content.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI have a well-managed relationship with suppliers.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI tried to minimize energy consumption.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI tried to reduce the waste.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eI tried to reduce the emission of air pollutants.\u0026nbsp;\u003c/li\u003e\n \u003cli\u003eSales are increasing.\u003c/li\u003e\n \u003cli\u003eNet profit is increasing.\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 161px;\"\u003e\n \u003cp\u003e0.900\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003c/table\u003e\n\u003c/div\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eStructural Equation Modeling (SEM) was employed to test the research model. SEM is an integrated method that combines two analyses: factor analysis and path analysis. Validation of the measurement model was conducted through confirmatory factor analysis (CFA) using IBM SPSS Amos 28. This analysis was designed to obtain latent variables for subsequent analysis. To achieve unidimensionality, each factor is ensured to have a factor loading value greater than 0.60 (Hair et al., 2019). The validity of a construct is complete when the fit index reaches a specified level.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eIn this study, four fit indices were analyzed: (i) chi-square/df, (ii) Comparative Fit Index (CFI), (iii) Tucker-Lewis Index (TLI), and (iv) the Root Mean Square Error of Approximation (RMSEA). When the proposed model does not reach the set acceptance level, the modification index (MI) value is used to modify the model to obtain a good fit. Validation of the measurement model also involved convergent validity, which refers to measuring the same concept with a high variance-sharing rate (Hair et al., 2019).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eMeanwhile, reliability reviews the extent to which the measurement model consistently measures the relevant constructs. Two criteria were used to evaluate reliability: composite reliability (CR) and average variance extracted (AVE). A CR value \u0026gt; 0.70 and an AVE value \u0026gt; 0.50, respectively, indicate that the reliability of the construct has been accomplished (Fornell \u0026amp; Larcker, 1981). Discriminant validity is attained when the square root of the AVE value for each construct is greater than the correlation value between different constructs. In addition, the connection between exogenous constructs must be less than 0.850. A correlation value between constructs that exceed 0.850 indicates that the measurement model has a multicollinearity problem (Fornell \u0026amp; Larcker, 1981).\u0026nbsp;\u003c/p\u003e"},{"header":"Findings","content":"\u003cp\u003e\u003cstrong\u003e\u003cem\u003eDemographic Analysis\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eA total of 389 questionnaires were returned from the 400 questionnaires delivered to respondents, yielding a response rate of 97.3%. This response rate exceeds 60% and is considered sufficient to analyze the data without a significant risk of sample bias (Baruch \u0026amp; Holtom, 2008). Table 2 shows the demographic distribution of respondents. Most respondents are from the 30\u0026ndash;39 age group, comprising 202 women entrepreneurs (51.93%). This is followed by the 40\u0026ndash;49 (n = 133, 33.96%) and 50\u0026ndash;60 (n = 55, 14.14%) groups. For the household income category, most respondents reported a monthly income of RM3,970\u0026ndash;RM4,849, with 266 respondents (68.38%) falling within this range. This is followed by RM3,170\u0026ndash;RM3,969 (n = 89, 22.8%), and RM2,500\u0026ndash;RM3,169 (n = 34, 8.74%).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eThe data also show that most respondents have low educational backgrounds. For example, more than 50% of the respondents have obtained a secondary education or a Sijil Pelajaran Malaysia (SPM; n = 276, 70.95%). Moreover, most respondents are married (213, 54.8%). This is followed by the single (n = 170, 43.7%) and divorce/widow (n = 6, 1.5%) categories. Next, most respondents have had business for 7 to 10 years, with 250 respondents (64.3%) falling into this category. This is followed by 4 to 6 years (n = 97, 24.9%), 11 to 20 years (n = 27, 6.9%), and 1 to 3 years (n = 15, 3.9%). Finally, most respondents own businesses in the food and beverage industry (n = 235, 60.41%). This is followed by beauty and healthcare (n = 86, 22.10%), apparel and fashion (n = 29, 7.46%), personal service (n = 22, 5.66%), home appliances (n = 11, 2.83%), information technology (n = 4, 1.03%), and others (n = 2, 0.51%).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTable 2: Characteristics of Sampling Distribution (n=389)\u003c/strong\u003e\u003c/p\u003e\n\u003cdiv\u003e\n \u003ctable border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"586\"\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eProfile\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eFrequency (n)\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u003cstrong\u003ePercentage (%)\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003col start=\"1\" type=\"1\"\u003e\n \u003cli\u003e\u003cstrong\u003eAge\u003c/strong\u003e\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e30\u0026ndash;39\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e202\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e51.93\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e40\u0026ndash;49\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e132\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e33.96\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e50\u0026ndash;60\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;55\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e14.14\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003col start=\"2\" type=\"1\"\u003e\n \u003cli\u003e\u003cstrong\u003eHousehold Monthly Income\u003c/strong\u003e\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eLess than RM2,500\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eRM2,500 \u0026ndash; RM3,169\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e34\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e8.74\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e\u0026nbsp;RM3,170 \u0026ndash; RM3,969\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e89\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e22.88\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eRM3,970 \u0026ndash; RM4,849\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e266\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e68.38\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003col start=\"3\" type=\"1\"\u003e\n \u003cli\u003e\u003cstrong\u003eAcademic Qualifications\u0026nbsp;\u003c/strong\u003e\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e\u003cem\u003ePeperiksaan Menengah Rendah\u003c/em\u003e (PMR)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e\u003cem\u003eSijil Pelajaran Malaysia\u003c/em\u003e (SPM)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e276\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e70.95\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e\u003cem\u003eSijil Tinggi Pelajaran Malaysia\u003c/em\u003e (STPM)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e13\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e3.34\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eFoundation\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e50\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e12.85\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eDiploma\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e26\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e6.69\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eBachelor\u0026rsquo;s degree\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e24\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e6.17\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003ePost-graduate\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eOthers\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003col start=\"4\" type=\"1\"\u003e\n \u003cli\u003e\u003cstrong\u003eMarital Status\u003c/strong\u003e\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eMarried\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e213\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e54.8\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eDivorce/Widow\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e6\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e1.5\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eSingle\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e170\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e43.7\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003col start=\"5\" type=\"1\"\u003e\n \u003cli\u003e\u003cstrong\u003eBusiness Lifespan (Years)\u003c/strong\u003e\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e1\u0026ndash;3 years\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e15\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e3.9\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e4\u0026ndash;6 years\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e97\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e24.9\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e7\u0026ndash;10 years\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e250\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e64.3\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003e11\u0026ndash;20 years\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e27\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e6.9\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003col start=\"6\"\u003e\n \u003cli\u003e\u003cstrong\u003eTypes of Business\u003c/strong\u003e\u003c/li\u003e\n \u003c/ol\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eFood \u0026amp; Beverage\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e235\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e60.41\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eApparel \u0026amp; Fashion\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e29\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e7.46\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eHome Appliances\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e11\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e2.83\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eInformation Technology\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e1.03\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003ePersonal Service\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e22\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e5.66\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eBeauty and Healthcare\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e86\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e22.10\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 321px;\"\u003e\n \u003cp\u003eOthers\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 132px;\"\u003e\n \u003cp\u003e0.51\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003c/table\u003e\n\u003c/div\u003e\n\u003cp\u003e\u003cbr\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eCommon Method Bias Assessment\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe implementation of questionnaires introduces potential biases that may compromise the reliability and validity of research results. The assessment of common method bias (CMB) used Harman\u0026rsquo;s Single Factor Test through an unrotated exploratory factor analysis (EFA; Podsakoff et al., 2003). The analysis revealed that the first factor accounted for 26.35% of the total variance, which fell below the recommended threshold of 50%. The study results indicate that common method bias does not pose a significant challenge to this research.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eReliability and Validity\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe analysis outcomes indicate that the fit index reaches an acceptable level: RMSEA = 0.064, CFI = 0.970, TLI = 0.960, and \u0026chi;2 / df = 2.650. The factor loadings for the constructs are high, exceeding 0.60, which indicates that the items accurately represent the constructs. Table 3 highlights that the CR and AVE values exceed the minimum values of 0.70 and 0.50, respectively, for all variables. This reveals that the construct explains more than 50% of the variance in the indicators, and the indicators within the construct are stable and consistent in measuring the same latent construct.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTable 3: Loading of Items, Composite Reliability (CR), and Average Variance Extracted (AVE)\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003ctable border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"586\"\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 255px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eVariable\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eItems\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eItem Loadings\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eAVE\u003c/strong\u003e\u003c/p\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eCR\u003c/strong\u003e\u003c/p\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd rowspan=\"8\" style=\"width: 255px;\"\u003e\n \u003cp\u003ePublic Policy\u003c/p\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.887\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"8\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.743\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"8\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.958\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.864\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.827\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.850\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP5\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.890\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP6\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.873\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP7\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.849\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003ePP8\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.858\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd rowspan=\"5\" valign=\"top\" style=\"width: 255px;\"\u003e\n \u003cp\u003eNational Culture\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eNC1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.814\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"5\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.626\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"5\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.893\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eNC2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.808\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eNC3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.800\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eNC4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.756\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eNC5\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.779\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd rowspan=\"5\" valign=\"top\" style=\"width: 255px;\"\u003e\n \u003cp\u003e\u0026nbsp;Entrepreneurial Competencies\u003c/p\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eEC1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.810\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"5\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.688\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"5\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.916\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eEC2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.882\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eEC3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.879\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eEC4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.820\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eEC5\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.749\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd rowspan=\"6\" valign=\"top\" style=\"width: 255px;\"\u003e\n \u003cp\u003eGender Inequality\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eGI1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.891\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"6\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.780\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"6\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.955\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eGI2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.888\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eGI3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.876\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eGI4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.892\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eGI5\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.875\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eGI6\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.880\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd rowspan=\"7\" valign=\"top\" style=\"width: 255px;\"\u003e\n \u003cp\u003eSustainable Entrepreneurship Performance\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eSEP1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.830\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"7\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.667\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd rowspan=\"7\" valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.933\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003eSEP2\u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.845\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eSEP3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.820\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eSEP4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.839\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eSEP5\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.780\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eSEP6\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.792\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003eSEP7\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 104px;\"\u003e\n \u003cp\u003e0.810\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n\u003c/table\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003e\u0026nbsp;Source:\u003c/em\u003e\u003c/strong\u003e\u003cem\u003e\u0026nbsp;Authors\u0026rsquo; calculations\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eThe discriminant validity analysis must be performed to verify that all measurement model constructs show minimal interconnection, as excessive relationships between them could lead to multicollinearity issues. Table 4 presents the discriminant validity index, which compares the square root of AVE values for constructs (values on the diagonal) and the correlations between constructs. The analysis results show that the square root of AVE values for each construct is greater than the correlations between different constructs. The correlation values between constructs were also found not to exceed 0.850 (Fornell \u0026amp; Larcker, 1981). This implies that the measurement model is free from multicollinearity problems.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTable 4: Discriminant Validity Results\u003c/strong\u003e\u003c/p\u003e\n\u003cdiv\u003e\n \u003ctable border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"623\"\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 40px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eNo.\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 187px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eVariable\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e1\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e2\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e3\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e4\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e5\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 40px;\"\u003e\n \u003cp\u003e1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 187px;\"\u003e\n \u003cp\u003ePublic Policy\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e0.861\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 40px;\"\u003e\n \u003cp\u003e2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 187px;\"\u003e\n \u003cp\u003eNational Culture\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e0.440***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e0.791\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 40px;\"\u003e\n \u003cp\u003e3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 187px;\"\u003e\n \u003cp\u003eEntrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e0.530***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e0.460**\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e0.829\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 40px;\"\u003e\n \u003cp\u003e4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 187px;\"\u003e\n \u003cp\u003eGender Inequality\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e\u0026minus;0.300***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e\u0026minus;0.350***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u0026minus;0.440***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e0.883\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 40px;\"\u003e\n \u003cp\u003e5\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 187px;\"\u003e\n \u003cp\u003eSustainable Entrepreneurship Performance\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e0.490***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 85px;\"\u003e\n \u003cp\u003e0.410**\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e0.500***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 75px;\"\u003e\n \u003cp\u003e\u0026minus;0.370***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u0026nbsp;0.816\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003c/table\u003e\n\u003c/div\u003e\n\u003cp\u003e\u003cstrong\u003eNote:\u003c/strong\u003e Values in the diagonal show the square root of AVE\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSource:\u003c/em\u003e\u003c/strong\u003e\u003cem\u003e\u0026nbsp;Authors\u0026rsquo; calculations\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eHypothesis Testing\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eFor the mediation model, Table 5 shows significant relationships between public policy \u003cem\u003e(\u0026beta;\u003c/em\u003e = 0.410, SE = 0.050, \u003cem\u003et\u003c/em\u003e = 8.20, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.001), national culture (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.370, SE = 0.060, \u003cem\u003et\u003c/em\u003e = 6.17, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.001), and entrepreneurial competencies (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.520, SE = 0.040, \u003cem\u003et\u003c/em\u003e = 13.00, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.001) with sustainable entrepreneurial performance. Thus, H1 and H2 are established. Moreover, significant relationships exist between public policy (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.210, SE = 0.060, \u003cem\u003et\u003c/em\u003e = 3.50, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.001), national culture (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.180, SE = 0.070, \u003cem\u003et\u003c/em\u003e = 2.57, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.05), and entrepreneurial competencies. Mediation analysis is also discussed. The standardized indirect effects of entrepreneurial competencies revealed that public policy (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.210, 95% CI [0.140, 0.300]) and national culture (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.190, 95% CI [0.110, 0.280]) have partial mediating effects on sustainable entrepreneurship performance through a mediator. Thus, H3 and H4 are accepted. The total effects confirmed that public policy (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.420) and national culture (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.370) had significant overall influences on sustainable entrepreneurship performance. According to Preacher and Hayes (2008), the mediation effect occurs when the 95% bootstrap confidence interval (CI) value, which represents the lower limit (LLCI) and the upper limit (ULCI), is not at zero. Thus, the mediation effects are significant.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTable 5: Result of Direct Effect and Mediation Analysis\u003c/strong\u003e\u003c/p\u003e\n\u003cdiv\u003e\n \u003ctable border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"605\"\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003e\u003cstrong\u003ePath\u003c/strong\u003e\u003c/p\u003e\n \u003cp\u003e\u003cstrong\u003eDV: Sustainable Entrepreneurship Performance\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u003cem\u003e\u0026beta;\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eS.E\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u003cem\u003et\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003ePublic Policy\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.410***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 76px;\"\u003e\n \u003cp\u003e0.050\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 170px;\"\u003e\n \u003cp\u003e8.20\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003eNational Culture\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.370***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 76px;\"\u003e\n \u003cp\u003e0.060\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 170px;\"\u003e\n \u003cp\u003e6.17\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003eEntrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.520***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 76px;\"\u003e\n \u003cp\u003e0.040\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 170px;\"\u003e\n \u003cp\u003e13.00\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eDV: Entrepreneurial Competencies\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003ePublic Policy\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.210***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 76px;\"\u003e\n \u003cp\u003e0.060\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 170px;\"\u003e\n \u003cp\u003e3.50\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003eNational Culture\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.180*\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 76px;\"\u003e\n \u003cp\u003e0.070\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd style=\"width: 170px;\"\u003e\n \u003cp\u003e2.57\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eMediating Effect\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u003cem\u003e\u0026beta;\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eS.E\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e95% CI\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003ePublic Policy + Entrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.210***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.180\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e[0.140, 0.300]\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003eNational Culture+ Entrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.190***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.230\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e[0.110, 0.280]\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eTotal Path\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003ePublic Policy + Entrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.420***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.152\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 264px;\"\u003e\n \u003cp\u003eNational Culture+ Entrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 95px;\"\u003e\n \u003cp\u003e0.370***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.260\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 170px;\"\u003e\n \u003cp\u003e\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003c/table\u003e\n\u003c/div\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eNote:\u003c/em\u003e\u003c/strong\u003e\u003cem\u003e\u0026nbsp;Significance level: ***p \u0026lt; 0.001, *p\u0026lt;0.05\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSource:\u003c/em\u003e\u003c/strong\u003e\u003cem\u003e\u0026nbsp;Authors\u0026rsquo; calculations\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eThe results in Table 6 indicate that entrepreneurial competencies (\u003cem\u003e\u0026beta;\u003c/em\u003e = 0.525, SE = 0.018, \u003cem\u003et\u003c/em\u003e = 1.21, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.001) and gender inequality (\u003cem\u003e\u0026beta;\u003c/em\u003e = \u0026minus;0.174, SE = 0.028, t\u003cem\u003e\u0026nbsp;\u003c/em\u003e= 1.34, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.001) have a significant influence on sustainable entrepreneurship performance. Moreover, gender inequality moderates the relationship between entrepreneurial competencies (\u003cem\u003e\u0026beta;\u003c/em\u003e = \u0026minus;0.091, SE = 0.034, \u003cem\u003et\u0026nbsp;\u003c/em\u003e= \u0026minus;2.68, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.01) and sustainable entrepreneurship performance. Hence, H5 is accepted. As gender inequality increases, the effect of entrepreneurial competencies on sustainable entrepreneurship performance becomes weaker or reverses direction. This means that gender inequality reduces the positive effect of entrepreneurial competencies on sustainable entrepreneurship performance.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eTable 6: Result of Moderation Analysis\u003c/strong\u003e\u003c/p\u003e\n\u003cdiv\u003e\n \u003ctable border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"624\"\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 312px;\"\u003e\n \u003cp\u003e\u003cstrong\u003ePath\u003c/strong\u003e\u003c/p\u003e\n \u003cp\u003e\u003cstrong\u003eDV: Sustainable Entrepreneurship Performance\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 114px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u003cem\u003e\u0026beta;\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eS.E\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 123px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u003cem\u003et\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 312px;\"\u003e\n \u003cp\u003eEntrepreneurial Competencies\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 114px;\"\u003e\n \u003cp\u003e0.525***\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.018\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 123px;\"\u003e\n \u003cp\u003e1.211\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 312px;\"\u003e\n \u003cp\u003eGender Inequality\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 114px;\"\u003e\n \u003cp\u003e\u0026minus;0.174***\u0026nbsp;\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.028\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 123px;\"\u003e\n \u003cp\u003e1.340\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 312px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eModerating Effect\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 114px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u003cem\u003e\u0026beta;\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e\u003cstrong\u003eS.E\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 123px;\"\u003e\n \u003cp\u003e\u003cstrong\u003e\u003cem\u003et\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd valign=\"top\" style=\"width: 312px;\"\u003e\n \u003cp\u003eEntrepreneurial Competencies*Gender Inequality\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 114px;\"\u003e\n \u003cp\u003e\u0026minus;0.091**\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 76px;\"\u003e\n \u003cp\u003e0.034\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd valign=\"top\" style=\"width: 123px;\"\u003e\n \u003cp\u003e-2.68\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003c/table\u003e\n\u003c/div\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eNo e:\u003c/em\u003e\u003c/strong\u003e\u003cem\u003e\u0026nbsp;Significance level: ***p \u0026lt; 0.001, **\u003c/em\u003e\u003cem\u003ep\u003c/em\u003e \u0026lt; 0.01\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSource:\u003c/em\u003e\u003c/strong\u003e\u003cem\u003e\u0026nbsp;Authors\u0026apos; calculations\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eFigure 3 illustrates the moderating role of gender inequality in the relationship between entrepreneurial competencies and sustainable entrepreneurship performance. The slope analysis reveals that the positive effect of entrepreneurial competencies on performance is more pronounced in environments with low gender inequality. In contrast, this relationship is significantly weakened when gender inequality is high, consistent with a significant adverse interaction effect (\u003cem\u003e\u0026beta;\u003c/em\u003e = \u0026minus;0.091, \u003cem\u003ep\u003c/em\u003e \u0026lt; 0.01). Figure 4 portrays the final model of the study.\u0026nbsp;\u003c/p\u003e"},{"header":"Discussion","content":"\u003cp\u003eThe number of women has increased worldwide by almost half of the total population. Therefore, women have become a catalyst for national and societal development (Adom \u0026amp; Anambane, 2020; Tlaiss \u0026amp; McAdam, 2021). However, women often experience oppression in the employment sector, which hinders their ability to develop careers (Constantinidis, 2021). In the world of entrepreneurship, women often face numerous obstacles, including difficulties in securing financing, entering larger markets, networking, and overcoming discrimination due to their gender, as well as a lack of up-to-date business skills. These obstacles have prevented women from expanding their businesses, and some have been forced to close their businesses due to stagnation and lack of growth (Avnimelech \u0026amp; Zelekha, 2023; Franzke et al., 2022; Noor et al., 2024a). Therefore, this study was conducted to examine how government policies, national culture, competence, and gender inequality impact the performance of women entrepreneurs in the informal sector. This study was also conducted to examine the role of entrepreneurial competence as a mediator, which can strengthen the link between government policies, national culture, and the performance of women entrepreneurs. Ultimately, this study aims to investigate how gender inequality affects the relationship between entrepreneurial competence and sustainable entrepreneurship performance.\u003c/p\u003e\n\u003cp\u003eThis study has found that government policies and national culture influence the sustainable performance of women entrepreneurs. This means that the government and society influence the ability of women entrepreneurs to drive their businesses towards greater competitiveness. For example, studies by Capano and Galanti (2021), Ferreira and Dinis (2025), Peng and Tao (2022), and Mashapure et al. (2022) have found that tangible assistance, e.g., capital, infrastructure, and business tools, is only practical when intangible assistance, e.g., classes to improve motivation and skills, is also provided. Therefore, forms of assistance from the government must be comprehensive and practical. Studies have also found that when a country has a proactive, courageous, and excellent culture, entrepreneurial activity is viewed as a respected and highly regarded career. Tehseen et al. (2023) and Facchini et al. (2021) explained that if a country supports entrepreneurs, it can lead to a paradigm shift in changing someone’s fate to achieve greater success in life, and the field of business is viewed not only as a source of income but also as crucial to national development. Malaysia is a country with a collectivist culture; therefore, community support for entrepreneurship is considered very important in shaping entrepreneurial norms.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eIn addition, the study findings also revealed that entrepreneurial competencies and gender inequality have a significant impact on the sustainable performance of women entrepreneurs. This finding demonstrates that the performance of women entrepreneurs is not only viewed from a macro perspective but also requires consideration from meso and micro perspectives. Excellent entrepreneurs are viewed as individuals who possess exceptional skills and talents. For example, a study by Chaturvedi (2025), Mohd Noor et al. (2024), Mokbel et al. (2024), and Pulka et al. (2021) found that entrepreneurs who are tenacious, farsighted, determined to learn, and able to adapt to the environment are more successful and able to bring their businesses to a larger market. In this rapidly developing world of technology, those with competence are seen as catalysts for building business capacity. Therefore, women entrepreneurs need a paradigm shift, i.e., that they should be more aggressive in improving their existing business skills. They should not feel inferior to their shortcomings and seek support, such as mentors, to help them manage their businesses. Women entrepreneurs also need to be more competitive by committing to improving their business performance on an annual basis (Amini Sedeh et al., 2022). For example, they can be determined to transition from an informal business to a formal one, which is perceived as more stable and generates higher income.\u003c/p\u003e\n\u003cp\u003eStudies have also found that gender inequality hinders the sustainable performance of women entrepreneurs’ businesses. After more than a century, the struggle for women’s liberation and gender equality is still far from over, because discrimination, exploitation, and oppression against women still exist. Similarly, gender inequality is still evident (Rietveld \u0026amp; Patel, 2022). This is seen to be particularly true among Southeast Asian countries due to cultural factors that see women as having to be treated differently from a young age. Women are often perceived as incapable in critical sectors, such as business, and are frequently viewed unfavorably by society if they prioritize their professional pursuits excessively (Constantinidis, 2021; Tlaiss \u0026amp; McAdam, 2021). Women are also perceived as dominating businesses at lower levels and are not considered competitive (Ilie et al., 2021). Due to this, many women conduct business in the informal sector, with most operating businesses such as food and beverage establishments, typically at the local level. Therefore, the government and society are seen as catalysts that can support the performance of women entrepreneurs. A mindset that considers the high capabilities of women should be focused on (Dogan \u0026amp; Aykan, 2025; Franzke et al., 2022). For example, the existence of female entrepreneur figures and large-scale empowerment programs for entrepreneurs should be encouraged.\u003c/p\u003e\n\u003cp\u003eThis study has yielded different findings compared to previous studies, as they have focused more on male entrepreneurs in general. Studies that focus on women entrepreneurs from low-income groups are rarely studied, while in fact, this group often faces discriminatory barriers in society. Therefore, this study can provide up-to-date information on how cultural and social barriers need to be addressed to ensure that female entrepreneurs can be competitive. By examining the influence of government policies and national culture on the sustainable performance of women entrepreneurs and considering entrepreneurial competence as a mediator and gender inequality as a moderator, this study has provided a more comprehensive framework. This comprehensive approach measures the performance of women entrepreneurs through various pathways, rather than occurring directly. Therefore, training and capacity building, as well as policy implications that target both genders, are very much needed. The inclusion of a moderator, namely, gender inequality, in this study is very relevant in the context of Southeast Asian countries such as Malaysia because women are often viewed as weak and uncompetitive. Furthermore, most previous studies examine the performance of entrepreneurs from a general perspective, and financial and non-financial metrics are rarely highlighted. In line with the Sustainable Development Goals, this study examines the economic, social, and environmental performance of women entrepreneurs. The findings can inform government programs and entrepreneurial support systems that specifically target women from low-income communities. By connecting policy, culture, and gender dynamics to sustainable efficiency and outcomes, this study supplies a blueprint for effective and comprehensive interventions.\u003c/p\u003e\n\u003cp\u003eThe results of this study have contributed to the latest data for women entrepreneurship studies, as many previous studies have focused more on the formal sector and financial business performance. This study has validated its findings from three perspectives: macro, meso, and micro. Therefore, women entrepreneurs should view their businesses from different contexts, i.e., from external and internal factors (Audretsch et al., 2022). The scope of macro and meso elements on the road restricts women entrepreneurs, as these systems perpetuate traditional gender expectations that force women to dedicate more time to childcare rather than pursuing economic success. The efficiency of economic development increases when female entrepreneurs receive equal business opportunities as male entrepreneurs (Ilie et al., 2021; Franzke et al., 2022). This environment affects the performance of women’s entrepreneurship. The microenvironment is more focused on the individual structure, where entrepreneurs’ skills, abilities, creativity, and talent lead to the competitiveness aspect (Nziku \u0026amp; Henry, 2021; Plika et al., 2021).\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eAs practical implications, the government must create an entrepreneurial ecosystem that supports business growth, which should include the existence of a centralized and comprehensive database, an entrepreneurial policy framework, and a practical resource allocation framework. Because informal sector entrepreneurs, who are often not registered and predominantly come from low-income groups, lack access to government assistance and support, the existence of this database is crucial to ensure that no entrepreneur is left behind (Kitole \u0026amp; Genda, 2024). The government, in collaboration with relevant agencies, should introduce the latest training modules that meet current industry and market requirements, utilizing qualified and experienced facilitators who are industry experts, academics, and representatives from corporate companies. The government should also help businesses access funding through loan support, capital investment assistance, and guidance on financing resources for women entrepreneurs. A standard network platform must be established to connect women entrepreneurs with those who have achieved success. Creating these platforms or events enables women entrepreneurs to exchange experiences and knowledge.\u0026nbsp;Women-focused platforms, such as the Women Entrepreneurs Networking Association (WENA) and the Strivers’ Hub, offer mentoring, workshops, and networking opportunities tailored to the needs of female entrepreneurs. More support is needed to develop digital applications or solutions that can enhance business operation efficiency. To summarize, the study provides the following suggestions to policymakers:\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003eTo plan, formulate, and update macro, micro, and sectoral policies related to entrepreneurship in alignment with the government’s strategic direction and current policies.\u003c/li\u003e\n \u003cli\u003eTo conduct strategic research and studies on entrepreneurship.\u003c/li\u003e\n \u003cli\u003eTo reinforce strategic relationships and collaborations at the international level, enhancing Malaysia’s role in entrepreneurship development.\u003c/li\u003e\n \u003cli\u003eTo monitor and assess the effectiveness of policy implementation, as well as the achievement of outputs and outcomes.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eCommunity and family also require emotional and motivational support to help women entrepreneurs overcome entrepreneurial challenges and enhance their mental well-being. Welsh et al. (2021) found that support from husbands can reduce the work-family role conflict experienced by working women. Husbands need to provide both emotional and financial support in terms of managing the family. Furthermore, national leaders’ primary responsibility is to reduce the gender gap through policies and strategic measures prioritizing equality and justice for both genders. In addition, further studies are needed so that policymakers, activists, government, and non-governmental organizations can take the initiative to design gender-related entrepreneurship programs that are sensitive to cultural and religious diversity in Malaysia. The process of achieving gender equality, or at least reducing the gender gap, is a significant theme emphasized in all feminist theories. For feminists, gender equality can only be achieved if the gap between women and men in economic, social, and political aspects is eliminated. Women’s empowerment is one of the important elements in achieving gender equality. Through employment, they can make decisions to mobilize resources for their progress and well-being (Ilie et al., 2021; Franzke et al., 2022).\u0026nbsp;\u003c/p\u003e"},{"header":"Conclusion","content":"\u003cp\u003eDespite the increasing number of women in Malaysia who are entering entrepreneurship, particularly in small and medium-sized enterprises (SMEs), it remains relatively small compared to that of male entrepreneurs. Starting a business is no easy feat, especially for women from low-income groups. The study results have successfully demonstrated the impact of government policy, national culture, entrepreneurial competence, and gender inequality on the sustainable business performance of women entrepreneurs. The study has also revealed that entrepreneurial competence acts as a mediator, while gender inequality acts as a moderator, in mitigating the impact of competence on business performance. This study has produced significant and valid findings, highlighting both external and internal factors that support the performance of women entrepreneurs in the context of informal sector entrepreneurs and developing countries. This study is expected to assist the government in formulating future strategies that are more inclusive and focused. Researchers have also identified several limitations of the study that warrant attention. First, the data of this study are limited to and only focused on women entrepreneurs from low-income groups in Selangor and Kuala Lumpur. Therefore, to improve generalization, future studies should expand the sample scope to include other states or different contexts. Second, this study employed a cross-sectional study technique, which cannot detect changes that occur over a specific period. For example, the performance of entrepreneurs may differ over a specific period. Therefore, future studies should employ longitudinal techniques to observe the changes or development of the research sample. This makes it easier for researchers to track the changes and development of the sample over time. The study also examined only a few indicators that influence women\u0026rsquo;s entrepreneurial performance. Therefore, future studies are expected to enhance the research model by incorporating several mediating and moderating variables that can impact the performance of entrepreneurs. For example, factors such as family background, personality influences, family support, type of business venture, and others.\u003c/p\u003e"},{"header":"Declarations","content":"\u003cp\u003e\u003cstrong\u003eFunding\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThis research was funded by the FRGS-EC/1/2024/SS01/UITM/02/40 grant code from the Ministry of Higher Education (MoHE), Malaysia.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eDisclosure of potential conflicts of interest\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThe authors have no competing interests to declare that are relevant to the content of this article.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eEthics Statement\u0026nbsp;\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eApproval for the study was granted by the appropriate ethics committee [details omitted for blinded review].\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eInformed consent\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eAll participants provided informed consent prior to their involvement in the study. Data were anonymized prior to analysis to maintain participant confidentiality.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eAuthor Contribution\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eNurul Hidayana Mohd Noor prepared the original draft and handled the revisions. Azizan Zainuddin led data collection and contributed to writing the original draft. Ibraheem Saleh Al Koliby performs validation of findings. Mohammed A. Al-Hakimi led data interpretation. All authors reviewed the manuscript.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eAcknowledgement\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThis research was funded by the FRGS-EC/1/2024/SS01/UITM/02/40 grant code from the Ministry of Higher Education (MoHE), Malaysia. The researchers are grateful to Universiti Teknologi MARA (UiTM) for its support of the research. This study was conducted in accordance with the principles outlined in the Declaration of Helsinki. 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However, for a long time, the representation of women in the business and entrepreneurial world has been a challenge that must be addressed. Although many women possess immense potential in entrepreneurship, factors such as gender bias, limited access to capital, and cultural difficulties often serve as significant obstacles. The primary objective of this study is to investigate the impact of public policy, national culture, entrepreneurial competencies, and gender inequality on the sustainable performance of women entrepreneurs from low-income backgrounds. This research also aims to investigate the mediation effect of entrepreneurial competencies and the moderating effect of gender inequality through statistical analysis using the Structural Equation Modeling (SEM) method and AMOS software. The study sample consisted of 389 women entrepreneurs from low-income groups, selected using a purposive sampling method. Research indicates that public policy, national culture, entrepreneurial competencies, and gender inequality have a significant impact on the performance of sustainable entrepreneurship. The study also revealed that the mediated and moderated models are substantial. As a result, a good ecosystem for successful entrepreneurs is needed, which includes a pro-entrepreneurial and gender-balanced environment, as well as active entrepreneurship development programs to enhance entrepreneurial competency levels.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eJEL Classification : \u003c/strong\u003eJ24, L26\u003c/p\u003e","manuscriptTitle":"Sustainability Performance of Women Entrepreneurs in Developing Countries: A Multidimensional Analysis of Public Policy, Culture, Competencies, and Gender Factors in Entrepreneurship","msid":"","msnumber":"","nonDraftVersions":[{"code":1,"date":"2026-01-19 11:49:36","doi":"10.21203/rs.3.rs-8311709/v1","editorialEvents":[{"type":"communityComments","content":0},{"type":"decision","content":"Revision requested","date":"2026-03-16T13:26:12+00:00","index":"","fulltext":""},{"type":"reviewerAgreed","content":"206437550884336745570276829670158412700","date":"2026-03-16T07:16:55+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-03-16T04:52:38+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"90866307516525160873828693869455086090","date":"2026-03-16T04:21:24+00:00","index":"hide","fulltext":""},{"type":"editorInvitedReview","content":"","date":"2026-02-23T14:06:20+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"219858859414890427268260416479106901656","date":"2026-02-23T13:29:37+00:00","index":"hide","fulltext":""},{"type":"reviewerAgreed","content":"250954324010437900515474846258551913080","date":"2026-01-20T20:53:56+00:00","index":"hide","fulltext":""},{"type":"reviewersInvited","content":"","date":"2026-01-14T23:55:48+00:00","index":"","fulltext":""},{"type":"editorAssigned","content":"","date":"2025-12-29T03:53:59+00:00","index":"","fulltext":""},{"type":"checksComplete","content":"","date":"2025-12-29T03:52:45+00:00","index":"","fulltext":""},{"type":"submitted","content":"Journal of Global Entrepreneurship Research","date":"2025-12-09T00:51:23+00:00","index":"","fulltext":""}],"status":"published","journal":{"display":true,"email":"[email protected]","identity":"journal-of-global-entrepreneurship-research","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":false,"externalIdentity":"","sideBox":"Learn more about [Journal of Global Entrepreneurship Research](https://link.springer.com/journal/40497)","snPcode":"40497","submissionUrl":"https://submission.springernature.com/new-submission/40497/3","title":"Journal of Global Entrepreneurship Research","twitterHandle":"","acdcEnabled":true,"dfaEnabled":true,"editorialSystem":"stoa","reportingPortfolio":"Springer Hybrid","inReviewEnabled":true,"inReviewRevisionsEnabled":false}}],"origin":"","ownerIdentity":"cacdd217-6c08-41c8-b25b-c17d7e340684","owner":[],"postedDate":"January 19th, 2026","published":true,"recentEditorialEvents":[],"rejectedJournal":[],"revision":"","amendment":"","status":"in-revision","subjectAreas":[],"tags":[],"updatedAt":"2026-04-13T21:24:00+00:00","versionOfRecord":[],"versionCreatedAt":"2026-01-19 11:49:36","video":"","vorDoi":"","vorDoiUrl":"","workflowStages":[]},"version":"v1","identity":"rs-8311709","journalConfig":"researchsquare"},"__N_SSP":true},"page":"/article/[identity]/[[...version]]","query":{"redirect":"/article/rs-8311709","identity":"rs-8311709","version":["v1"]},"buildId":"XKTyCvWXoU3ODBz1xrDgd","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[84888],"gssp":true,"scriptLoader":[]}