Entrepreneurship And Institutions

Context Matters: Institutions and Entrepreneurship analyzes the connection between entrepreneurship and institutions. The goal is to provide a discussion of the literature on institutions in economics, develop the argument on the relationship between institutions and entrepreneurship and apply this logic to a variety of entrepreneurial settings - private for-profit, private non-profit and political. In addition to exploring entrepreneurship within several institutional settings, the authors also consider entrepreneurship on institutional arrangements. Context Matters: Institutions and Entrepreneurship develops the notion of institutions and provide insight into what this concept entails. The authors show how institutions matter for entrepreneurship and economic development. This if followed by a consideration of 'social entrepreneurship', 'political entrepreneurship', and the role of 'institutional entrepreneurs' and their impact on the formation and evolution of institutions. The authors end with a discussion of the implications for future research.

The study of dynamics of institutional change in emerging markets are subjects of great interest in contemporary political economy. The dynamics and quality of institutional change can have significant impacts on the long-run performance of economies, economic growth and development of nations, and play a fundamental role in societies. It provides a comprehensive understanding of legal-economic institutions, and sheds light on the way to global peace by producing a better understanding of the dynamics of historical change. Topics range from institutional uncertainty, hybrid market order and labor market institutions, to good governance of institutions and WTO rules as trade institutions, as well as entrepreneurship and institutional change in emerging markets, and the role of modern technologies. This edited volume emphasizes legal-economic institutions, and the role of management and entrepreneurship on dynamics, trends, and implications of institutional change in emerging markets. Presenting research articles by eminent scholars and experts engaged in education and research, who address and discuss the most recent issues in the field, they reveal new insights into the dynamics of institutional change for researchers interested in development of new theories and comparative studies, especially in the era of emerging markets. The book is appealing to a wide range of global audience, can serve as a useful reference work in education and research, offers innovative and productive discussions, and can satisfy scholarly and intellectual interests, regarding institutional development and a broad spectrum of its interactions with functioning of markets and economies.

Examines how the institutional environment affects entrepreneurial organizations, and vice-versa.

Drawing on 12 case studies across three global regions, this book examines how formal and informal institutions shape entrepreneurial activity.

Using institutional economics as a theoretical framework, this book analyzes institutional environment conducive to entrepreneurial activity in order to enhance economic performance across countries. In particular, the main contributions of this book to the entrepreneurship literature are the following: • Identify past and current research about the institutional context shaping entrepreneurial activity and its effect on economic growth • Examine social progress orientation as those institutional factors that are shaping innovative entrepreneurial activity • Explore the effect of different types of entrepreneurial activities on economic growth • Examine how social progress orientation through opportunity-driven entrepreneurship affects economic development • Analyze the interrelationships between institutions, entrepreneurial activity and economic development across countries • Study how the country's institutional context influences the way in which entrepreneurial activity affects social progress Two sides of the same coin might be observed when analyzing policy aspects of those institutions affecting entrepreneurial activity. On the one hand, effective public policy to promote entrepreneurship is predicated on understanding the underlying forces as well as the consequences and impacts of entrepreneurship. On the other hand, different endeavors to promote entrepreneurial activity might have deleterious economic effects since they could actually reduce employment in the long-term. Thus, it is crucial to understand the institutional environment in which entrepreneurs are interacting and making decisions. The comprehension of these phenomena serves to move forward the theoretical, practical and policy debate on entrepreneurship as a mechanism to achieve higher economic performance.

early economic thinkers and classic works such as Cantillon (1755), Knight (1921), and Kirzner (1973). The paper opens by explaining how uncertainty and thus entrepreneurship disappeared from microeconomic theory as it became increasingly formalized (and stylized). It then goes on to bring the entrepreneur and entrepreneurial decision-making back into economic theory by focusing on the interrelationships among actors, knowledge, and perceived economic opportunities using a resource-based framework. The third paper in this section (Chapter 4) is by Foss and Klein, "Entrepreneurship and the Economic Theory of the Firm: Any Gains from Trade?" Foss and Klein strongly link theories of the firm to entrepreneurship, arguing a fundamental and intrinsic connection between the two. They, like Mahoney and Michael, explain how entrepreneurship became less important in economic models as the general equilibrium model became dominant. Foss and Klein ask: Does the entrepreneur need a firm? They focus on the judgment of the entrepreneur and suggest that this judgment is exercised through asset ownership and starting a firm. Foss and Klein further argue that it is through this notion of judgment that heterogeneous assets combine to meet future wants.

This book presents some of Zoltán J. Ács’ most important contributions since the turn of the new millennium, with a particular intellectual focus on knowledge spillover entrepreneurship. It studies the evolution of global entrepreneurship and pays attention to the role of institutions and the incentives they create for economic agents who become either productive or unproductive entrepreneurs. For productive entrepreneurs, those that create wealth for themselves and for society, the author offers a knowledge spillover theory of entrepreneurship as a new way to help understand the entrepreneurial ecosystem. For those that create wealth only for themselves the author develops a theory of destructive entrepreneurship that undermines the entrepreneurial ecosystem. The book also presents an explanation of the role of philanthropy in reconstituting wealth to complete the circuits of capital in the theory of capitalist development. Finally, the author examines several public policy issues including immigration and technology transfer. This volume will be required reading for students and scholars of entrepreneurship, economics and public policy.