In previous studies on entrepreneurship, there is a lack of consensus as to the determinants and concept of entrepreneurship because the studies of entrepreneurship are based on the multidisciplinary approach. Therefore, in this study, we identify the determinants of entrepreneurship and examines the relationship these determinants and entrepreneurial performance using structural equation model(SEM), which is constructed with 26 countries on about 50 variables during 2007∼2017. The model consisted of 7 latent constructs (R&D investment, entrepreneurship education, access to finance, market condition, regulation, entrepreneurial orientation, government support policy) and 7 path hypothesis to verifying effect on entrepreneurial performance. The main finding of empirical analysis are as follows; First, it is found that five components excepting market condition and regulation of entrepreneurial performance are statistically significant. Second, entrepreneurial orientation and government support policy are positively associated with entrepreneurial performance. However, R&D investment and entrepreneurship education have negative effect on entrepreneurial performance. Third, access to finance do not have significant influence on entrepreneurial performance. The major contributions of this study are identifying the determinants on entrepreneurship by means of structural equation model and verifying effects on entrepreneurial performance by the variables. Entrepreneurial performance is directly enhanced when the higher the entrepreneurial orientation, the higher the government support, the lower the regulatory burden, the more fair the market is. It was suggested that it is necessary to measure the relationship between R&D investment and entrepreneurship education with a time lag.