This study seeks to provide an explanation for how the size of domestic market and international market impact the national entrepreneurship culture of one country which, as a consequence, direct entrepreneurial behavior. Language is regarded as a carrier of culture and it is a proxy that can be a determinant to define and calculate the size of markets. The combination of GEM and CIA data allows this study to examine the importance of market size and entrepreneurship on a large scale. The data was gathered in 2016 and the sample size is 149,325 individual respondents from 65 countries around the globe. Moreover, to evaluate moderating effects of institutional environment and entrepreneurial cognition, the values from secondary sources are obtained including World Bank’s Ease of Doing Business, Hofstede’s cultural values, and GEM’s survey variables.

The findings show that the size of international market is critical towards national entrepreneurship culture while the size of domestic market will be significant when it combines with its ease of doing business characteristics. Consistent with the theoretical prediction, national entrepreneurship culture can predict individuals’ entrepreneurial activities. Moreover, all entrepreneurial cognition elements including entrepreneur networking, perceived opportunities, self-efficacy, and risk-taking traits show a positive impact on entrepreneurial intention-action transition.

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