Empirical Model for Estimating Sustainable Entrepreneurship’s Growth Potential and Positive Outlook

Abstract

In recent years, the expanding concern of environmental, innovative, and sustainable development has advanced sustainable entrepreneurship. Hence, sustainable innovative entrepreneurship can be considered as a running space for business development, auditing, data analytics, and validation practices with modern, positive, and competitive initiatives. The main aim of this paper was to consider the role of Pearson’s ρ as a quality measure initiative on sustainable entrepreneurship growth dynamics, reflecting the strength in and direction of the linear relationship between the corporate’s EBIT profit and several quality corporate factors related to the sustainable growth potential with a positive outlook. A new ρ-based empirical econometric model was proposed, tested on a Western Balkans case study, and validated. Applications and implications of the model are considered in the context of corporate sustainable profitability with a social footprint.