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The Entrepreneurial Theory Of The Firm And The Theory Of The Entrepreneurial Firm, Richard N. Langlois

Economics Working Papers

The entrepreneurial theory of the firm argues that entrepreneurship, properly understood, is a crucial but neglected element in explaining the nature and boundaries of the firm. By contrast, the theory of the entrepreneurial firm presumably seeks not to understand the nature and boundaries of "the firm" in general but rather to understand a particular type of firm: one that is entrepreneurial. This paper is an attempt to reconcile the two. After briefly delving for the concept of entrepreneurship in the work of Schumpeter, Kirzner, and (especially) Knight, the paper makes the case for the entrepreneurial theory of the firm. In …

Summary -- Reducing Market And Appropriation Uncertainty: The Twin Organizational Tasks Of Entrepreneurship, Douglas A. Bosse, Sharon A. Alvarez

Management Faculty Publications

One of the reasons entrepreneurs are motivated to action is their assessment of the potential profit associated with a particular opportunity to recombine resources from the factor market into a product (or service) that will be demanded in the product market. Entrepreneurial firm survival often depends on the creation and appropriation of this profit. However, this profit is uncertain ex ante as it depends on the ex post difference between the costs that must be paid for the factors of production and the prices that will be realized for the finished product. This paper explores the relationship between uncertainty and …

Slack Resources And The Performance Of Privately Held Firms, Gerard George

Research Collection Lee Kong Chian School Of Business

Empirical findings from publicly traded firms and behavioral arguments suggest a positive influence of resource slack on financial performance. While this area has remained unexplored in privately held firms, conceptual arguments indicate that resource constraints may enhance performance. Longitudinal data on 900 privately held firms confirm the differing influences of forms of slack on performance. Results indicate that a combination of behavioral and resource constraints arguments are necessary to explain the slack-performance relationship in privately held firms. The implications of these findings for theories of resources and entrepreneurship are discussed.

Initiating An Entrepreneurial Mindset In The Department Of Defense (Dod): Testing A Comprehensive Model, Gretchen R. Rhoads

Theses and Dissertations

Transformation will become vital as senior military leaders prepare to fight tomorrow's battles. The pervasiveness of the entrepreneurial mind set within Department of Defense (DoD) organizations and the ability of senior leaders to foster that mind set will be vital. This research effort tested an integrated model of the entrepreneurial mind set and produced a framework that senior leaders can implement to ignite their organizations' innovative potential and ability to transform. The research used a questionnaire to gather data regarding three entrepreneurial mind set antecedents -- individual characteristics, process, and context -- to determine the level of influence each has …

A Measure Of Entrepreneurial Risk Preference And Optimism Using Field Experiments, Mark Schneider

Electronic Theses and Dissertations

Previous studies have underscored the economic importance of the role of the entrepreneur, and empirical studies testing the nature of the entrepreneur are notably lacking. This study directly addresses this issue by examining newly gathered field data which captures the decision making and risk behaviors for a group of high-technology entrepreneurs. Two decision making tasks were used to elicit risk aversion measures and to test for any 'joy of winning' or judgmental errors, possibly in the form of over optimistic behavior. These elicitations were made with the use of multiple price formats and winner's curse experiments. 62 responses were collected …

Founding Time And The Growth Of Firms, Garimalla R. Chandrashekhar, Raghavan Srinivasan

New England Journal of Entrepreneurship

This research recognizes the importance of the founding conditions of a firm. A new construct, Founding Time (FT) has been conceptualized, measured, and validated to represent one of the founding conditions of a firm. FT is then used to understand the phenomena of growth of firms.

The impact of FT on the growth of a firm has been examined. This examination reveals that there is a certain zone of FT, which seems to result in high firm growth rates. This research also establishes that there is an optimum for the FT of a firm.

A multimethod approach has been used …

Female Entrepreneurship And Business Consortiums: Prospective Solutions For Argentina's Economic Challenges, Christopher J. Walker

Christopher J. Walker

As Argentine policy makers attempt to promote and sustain development after the economic crisis that emerged at the turn of the century, the role of business consortiums merits particular attention - especially with regard to assisting female entrepreneurs in business venturing. After reviewing the literature on gender in the marketplace, this article explores the results of a qualitative case study conducted in Buenos Aires, Argentina, which focuses on the role of women in business consortiums. The study compiles and analyzes data from 314 business consortiums and seventy interviews of business owners and managers in Argentina. Five primary roles of business …

Introduction: Special Issue On “Measurement Issues In Entrepreneurship Studies”, Jill Kickul, Norris Krueger, Sylvia Maxfield

New England Journal of Entrepreneurship

No abstract provided.

Entrepreneurial Hunger—Shall We Try Chinese?, Joseph E. Levangie

New England Journal of Entrepreneurship

Many entrepreneurs are able to manage their businesses within relatively contained and familiar geographical and cultural circles. With a world economy shrinking every day amid a flood of digital information, today’s entrepreneur is increasingly confronted with opportunities to consider new ways to secure vendors and recruit customers. Many unfamiliar possibilities emerge. Should the entrepreneur venture beyond “comfortable” surroundings to consider international connections? Specifically, what about China? How practical is this fetching business temptation of larger markets and lower-cost subcontractors? What are the social, trade, financial, and political issues? Should a “China strategy” be a true entrepreneurial offensive, or rather a …

New England Journal Of Entrepreneurship, Fall 2005

New England Journal of Entrepreneurship

No abstract provided.

New England Journal Of Entrepreneurship, Spring 2005

New England Journal of Entrepreneurship

No abstract provided.

Managing Spoiled Identity Through Entrepreneurship: An Exploratory Study Of Australian Aboriginal Entrepreneurs, James Reveley, Simon Down

Faculty of Commerce - Papers (Archive)

This paper argues that spoiled identity, which results from stigmatization, is an important spur to engaging in entrepreneurial activity. The idea that some people become entrepreneurs in response to fragmentation or damage done to the self is not new. To date, however, this idea been addressed from the standpoint of depth psychology. This paper uses Goffman’s spoiled identity concept to shift the focus from psychological dysfunction to social and contextual dimensions of self-identity, understood sociologically. These issues are explored through the abbreviated life histories of two people, who regard themselves as Australian Aboriginal entrepreneurs. Each person dealt with the effects …

Acquiring An Existing Business, Teodocio Ramirez

Theses Digitization Project

The goal of this project is to review the literature on how to buy an existing business and to synthesize the material into a written instructional manual that a regular individual or aspiring entrepreneur can use in understanding the process necessary to buy an existing small business.

Serial Entrepreneurs And Small Business Bankruptcies, Douglas G. Baird, Edward R. Morrison

Faculty Scholarship

Chapter 11 is thought to preserve the going-concern surplus of a financially distressed business – the extra value that its assets possess in their current configuration. Financial distress leads to conflicts among creditors that can lead to inefficient liquidation of a business with going-concern surplus. Chapter 11 avoids this by providing the business with a way of fashioning a new capital structure. This account of Chapter 11 fails to capture what is happening in the typical case. The typical Chapter 11 debtor is a small corporation whose assets are not specialized and rarely worth enough to pay tax claims. There …

Identifying Sources On Entrepreneurship And The Informal Economy, Colin C. Williams

Colin C Williams

No abstract provided.