Pertinent to modern industry, administration, finance and society, the most pressing issue for firms today is how to reapproach the way we think and work in business. With topics ranging from ...improving productivity and coaxing economic growth after periods of market inactivity, Complex Decision-Making in Economy and Finance offers pragmatic solutions for dealing with the critical levels of disorder and chaos that have developed throughout the modern age. This book examines how to design complex products and systems, the benefits of collective intelligence and self-organization, and the best methods for handling risks in problematic environments. It also analyzes crises and how to manage them. This book is of benefit to companies and public bodies with regards to saving assets, reviving fortunes and laying the groundwork for robust, sustainable societal dividends. Examples, case studies, practical hints and guidelines illustrate the topics, particularly in finance.
This article analyzes the state of the art of the research on corporate entrepreneurship, develops a conceptual framework that connects its antecedents and consequences, and offers an agenda for ...future research. We review 310 papers published in entrepreneurship and management journals, providing an assessment of the current state of research and, subsequently, we suggest research avenues in three different areas: corporate entrepreneurship antecedents, dimensions and consequences. Even though a significant part of the overall corporate entrepreneurship literature has appeared in the last decade, most literature reviews were published earlier. These reviews typically cover a single dimension of the corporate entrepreneurship phenomenon and, therefore, do not provide a global perspective on the existing literature. In addition, corporate entrepreneurship has been studied from different fields and there are different approaches and definitions to it. This limits our understanding of accumulated knowledge in this area and hampers the development of further research. Our review addresses these shortcomings, providing a roadmap for future research.
Plain English Summary
This review analyzes the articles published in the corporate entrepreneurship field and presents the future research agenda. Research agrees that corporate entrepreneurship has a positive impact on firms’ profits and growth. This has generated an increase in the number of research articles published in this area. However, previous literature has some limitations and areas that should be further explored. First, there are many different definitions and terms to refer to corporate entrepreneurship activities. This makes it difficult to understand the current state of corporate entrepreneurship research. Second, we lack up to date comprehensive literature reviews summarizing the knowledge and advances generated in the field in the last years. Overall, the objective of this research is to explore the content and evolution of corporate entrepreneurship research. This research contributes by summarizing and synthesizing the main findings in previous literature. It also contributes by identifying relevant inconsistencies and ambiguities in previous literature that have prevented the development of certain areas within the corporate entrepreneurship field.
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CEKLJ, EMUNI, FIS, FZAB, GEOZS, GIS, IJS, IMTLJ, KILJ, KISLJ, MFDPS, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, SBMB, SBNM, UKNU, UL, UM, UPUK, VKSCE, ZAGLJ
Entrepreneurship in China He, Canfei; Lu, Jiangyong; Qian, Haifeng
Small business economics,
03/2019, Volume:
52, Issue:
3
Journal Article
Peer reviewed
Open access
China’s economic transition has greatly unleashed entrepreneurship and private enterprise development since the 1980s. In this article, we review the recent literature on entrepreneurship in China ...and summarize 11 articles included in this China special issue. Our literature review shows that the unique institutional and cultural settings behind the Chinese economy have led to some distinct perspectives of studying entrepreneurship. The articles included in this special issue further advance the entrepreneurship research embedded in the Chinese context and shed lights on entrepreneurship policy in emerging economies. Most recently, China has recognized entrepreneurship as one of the key driving forces of sustained economic development and is accordingly making many efforts to encourage and facilitate entrepreneurial activity. Following this new development, it is imperative to study China’s national and regional entrepreneurship systems in future research.
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Suppose that a firm in charge of a business ecosystem is a firm in charge of a microeconomy. To achieve the highest growth rate, how open should that economy be? To encourage third-party developers, ...how long should their intellectual property interests last? We develop a sequential innovation model that addresses the trade-offs inherent in these two decisions: (i) Closing the platform increases the sponsor’s ability to charge for access, while opening the platform increases developer ability to build upon it. (ii) The longer third-party developers retain rights to their innovations, the higher the royalties they and the sponsor earn, but the sooner those developers’ rights expire, the sooner their innovations become a public good upon which other developers can build. Our model allows us to characterize the optimal levels of openness and of intellectual property (IP) duration in a platform ecosystem. We use standard Cobb–Douglas production technologies to derive our results. These findings can inform innovation strategy, choice of organizational form, IP noncompete decisions, and regulation policy.
This paper was accepted by Chris Forman, information systems.
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Three waves and counting Welter, Friederike; Baker, Ted; Wirsching, Katharine
Small business economics,
02/2019, Volume:
52, Issue:
2
Journal Article
Peer reviewed
Although the field was initially slow on the uptake, contextualization of entrepreneurship research has come a long way in recent years. Arguably, entrepreneurship demands contextualization more than ...many other fields, because not only is entrepreneurship broad and diverse in its scope but it is also frequently about the creation of differences. In this paper, we outline three recent and overlapping waves of contextualization in the entrepreneurship field. The discussion has moved from challenging the “standard” or Silicon Valley model of entrepreneurship by considering the why, what, and how of entrepreneurship (first wave) towards considering more subjective elements and the construction and enactment of contexts (second wave), through challenging us to deepen our theorizing by broadening the domain of entrepreneurship research (third wave). The articles in this special issue on “Entrepreneurship in Context” represent this third wave. Taken together, they illustrate entrepreneurial diversity and comprehend entrepreneurship and innovation as everyday activities. We end with a brief consideration of where the rising tide of contextualization may take the field during the next few years.
We provide a nonlinear characterization of the macroeconomic impact of microeconomic productivity shocks in terms of reduced-form nonparametric elasticities for efficient economies. We also show how ...microeconomic parameters are mapped to these reduced-form general equilibrium elasticities. In this sense, we extend the foundational theorem of Hulten (1978) beyond the first order to capture nonlinearities. Key features ignored by first-order approximations that play a crucial role are: structural microeconomic elasticities of substitution, network linkages, structural microeconomic returns to scale, and the extent of factor reallocation. In a business-cycle calibration with sectoral shocks, nonlinearities magnify negative shocks and attenuate positive shocks, resulting in an aggregate output distribution that is asymmetric (negative skewness), fattailed (excess kurtosis), and has a negative mean, even when shocks are symmetric and thin-tailed. Average output losses due to short-run sectoral shocks are an order of magnitude larger than the welfare cost of business cycles calculated by Lucas (1987). Nonlinearities can also cause shocks to critical sectors to have disproportionate macroeconomic effects, almost tripling the estimated impact of the 1970s oil shocks on world aggregate output. Finally, in a long-run growth context, nonlinearities, which underpin Baumol's cost disease via the increase over time in the sales shares of low-growth bottleneck sectors, account for a 20 percentage point reduction in aggregate TFP growth over the period 1948-2014 in the United States.
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"Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social ...networks make it critical to understand how they impact behavior, which network structures are likely to emerge in a society, and why we organize ourselves as we do. The author offers a comprehensive introduction to social and economic networks, drawing on the latest findings in economics, sociology, computer science, physics, and mathematics. He provides empirical background on networks and the regularities that they exhibit, and discusses random graph-based models and strategic models of network formation. He helps readers to understand behavior in networked societies, with a detailed analysis of learning and diffusion in networks, decision making by individuals who are influenced by their social neighbors, game theory and markets on networks, and a host of related subjects. The author also describes the varied statistical and modeling techniques used to analyze social networks. Each chapter includes exercises to aid students in their analysis of how networks function." Forschungsmethode: Theoriebildung; Grundlagenforschung; Netzwerkanalyse; empirisch. (author's abstract, IAB-Doku).
In spite of all the scholarly attention it has garnered, effectuation research continues to face a series of theoretical and methodological challenges. In order to help move effectuation research ...forward, we content-analyze a comprehensive sample of 101 effectuation articles published in JCR®-listed journals between 1998 and 2016 (inclusively), with the specific aim of uncovering the main conceptual and methodological articulations that have underpinnedeffectuationresearchto date. In doing so, we not only uncover some the field’s achievements and shortcomings but also examine the extent to which published effectuation research addresses its most salient criticisms. We build on these observations to propose three recommendations for future advances, namely (1) conceiving effectuation as a “mode of action”; (2) developing new methodological indicators centered on effectuation’s concrete manifestations; and (3) examining the underlying dynamics explaining effectuation’s antecedents and consequences.
While the concept of entrepreneurial ecosystems is now a prominent topic and an important stream in entrepreneurship research, the question of how ecosystems can specifically promote
sustainable
...entrepreneurship and contribute to the Sustainable Development Goals (SDGs) set by the United Nations is a neglected issue. With the papers in this special issue, we address this research gap, serving as a catalyst sparking more research at the nexus of contextualization of entrepreneurship and sustainability. This research has, since the 1990s, developed in three waves; the explicit linkage to SDGs and the investigation of impacts of entrepreneurship and entrepreneurial ecosystems in achieving societal and environmental goals might be considered as the “fourth wave.” We first introduce relevant research streams and concepts for investigating sustainable entrepreneurial ecosystems. Then, we explain why this special issue and its articles represent a fourth wave in entrepreneurial research (“sustainability”). Thereafter, we provide an overview of the papers of this special issue and then end with a brief consideration of future research demands.
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Disruptions such as COVID-19-and the subsequent flux they wreak on organizations and society-have become commonplace. In order to advance our understanding of (and adaptation to) future ...discontinuities and crises, we argue that we require a reconceptualization of how disruption occurs. To do so, we draw on event systems theory; in contrast to previous work viewing disruption as the outcome of a singular event, we focus on how disruption can occur from an event chain-that is, a set of events that are temporally and causally connected. We abductively shape our conceptual arguments by drawing on narratives of past pandemics, reviewing two historical and two fictional texts that (re)create the experiences of those living through the Black Death and subsequent outbreaks of the bubonic plague. Rather than focusing on events themselves, we identify how certain characteristics among events in a chain lead to four microlevel experiences: stagnation, disorientation, polarization, and repudiation. We then proceed to examine how these microlevel reactions culminate into macrolevel transformations of economic, political, and cultural norms. Our event-system perspective on disruption and crises thereby generates insight, not only into understanding the (post-)pandemic world, but also into responses to future discontinuities.
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