Entrepreneurship Theory Research Articles

Weak vs Strong Knowledge Spillover Effects. Evidence from Geographic Distribution of Innovative Startup in Italy

This paper introduces the concepts of weak and strong knowledge spillover effects within the context of the Knowledge Spillover Theory of Entrepreneurship. In this context, the fundamental idea of our proposition is to provide a comprehensive analysis of the factors and conditions promoting and supporting entrepreneurship development at the regional and provincial level using a unique unbalanced panel database, consisting of 9242 Italian Innovative startups for the period 2008-2018. In general terms, we argue that the evidence from our unbalanced panel dataset indicates that these dynamics are as follows. First, spillover effects deriving from competition are initially strong at the province level, and later decay to weak spillover effects at the regional level. Second, in terms of specialization (intra-industry) spillover effects, they are initially strong at the provincial level, and later become weak at the regional level. Third, spillover effects deriving from diversity (inter-industry) are predominantly strong at the regional level, yet weak at the provincial level of aggregation. At the provincial level, higher levels of competition result in strong knowledge spillover effects leading to higher new firm formation, with weak knowledge spillover effects deriving from specialization. Furthermore, in line with the Knowledge Spillover Theory of Entrepreneurship, the existence of non-homogeneous distribution of opportunities and related knowledge spillover effects create heterogeneity of patterns of new firm formation across different units of geographic aggregation. These results provide evidence of constraint potential for growth that remains a puzzle and challenge for academics and policymakers.

Unveiling Success Factors: Nepalese Migrant Entrepreneurship in South Korea’s Service Sectors Through the Lens of Migrant Entrepreneurship Theory Perspectives

Unveiling Success Factors: Nepalese Migrant Entrepreneurship in South Korea’s Service Sectors Through the Lens of Migrant Entrepreneurship Theory Perspectives

Entrepreneurial Traits and Firms Performance: Evidence from SMEs in Nigeria

The purpose of this research is to determine the influence of entrepreneurial traits on firm’s performance in selected small and medium enterprises (SMEs) in Anambra State, Nigeria. The research was supported by trait theory of entrepreneurship. The research employed survey research design. The population target consists of 548 registered small and medium-scale enterprises located in Awka South L.G.A, Anambra State. The study used sample of 240 respondents drawn from the registered small and medium-scale enterprises. Stratified random sampling was employed in identifying respondents. A structured questionnaire was incorporated in data collection. Face and content validity was adopted in the study. Cronbach alpha coefficient was useful in examining the research instrument. Cronbach alpha coefficient of 0.7 was used for reliability. The assembled data was examined by means of descriptive statistics and inferential statistics assisted by Statistical Package for Social Sciences (SPSS). Data presentation entailed usage of tables and percentages. The findings indicated that entrepreneurial traits had a positive significance influence on the performance of SMEs. The research concluded, risk taking propensity, innovativeness and resilience influence performance of SMEs in Anambra State Nigeria having been statistically significant and therefore considered. The study recommended that prospective entrepreneurs should be mindful of these factors and take advantage of them in their quest to improve their firm’s performance and competitiveness.

Chance, probability, and uncertainty at the edge of human reasoning: What is Knightian uncertainty?

AbstractResearch SummaryFor more than a century, Frank Knight's Risk, Uncertainty, and Profit has significantly influenced entrepreneurship theory development by exploring the nature of uncertainty and the epistemic limits of entrepreneurial action. Knight's work highlights how economic actors cannot fully predict the consequences of their actions. Despite its broad influence, debates persist regarding the nature of Knightian uncertainty. This study addresses these debates through a comprehensive analysis of RUP and Knight's other published and unpublished writings to offer new insights into the nature and meaning of Knightian uncertainty, revealing Knight's holistic theory that integrates “real indeterminism,” “partial knowledge,” and “subjective beliefs.” This analysis provides much needed construct clarity to advance contemporary theories of entrepreneurial action and the role of uncertainty in business venturing processes.Managerial SummaryThis article revisits Frank Knight's foundational work, Risk, Uncertainty, and Profit, a cornerstone in entrepreneurship research for over a century. We highlight Knight's holistic approach to uncertainty, which integrates the concepts of real indeterminism (the inherent unpredictability of future events), partial knowledge (the incomplete understanding of the present and future), and subjective beliefs (individual perceptions and interpretations). The study offers new perspectives on how Knightian uncertainty influences entrepreneurial decision‐making and action, highlighting how this unique type of uncertainty plays a critical role in the business venturing process. These insights provide valuable contributions to contemporary theories of entrepreneurship, emphasizing the complexity and multifaceted nature of navigating uncertainty in business.

FINANCING INNOVATION: THE ROLE OF FUNDING IN THE EFFICACY OF UNIVERSITY TECHNOLOGY TRANSFER ENTITIES

This study explores the evolving role of universities in the modern economy, focusing on their transformation from traditional centers of education and research to dynamic hubs of entrepreneurship and technology transfer. Drawing from Schumpeter's theory of entrepreneurship, which emphasizes the critical role of innovation and the entrepreneur in catalysing economic change, this paper argues that contemporary universities have adopted a third mission of economic development, complementing their foundational roles in teaching and research. The paper introduces the concept of the entrepreneurial university, a term that captures the institution's enhanced involvement in technological innovation and its contribution to economic growth through the commercialization of research. The research discusses various models of innovation that have shaped our understanding of the knowledge transfer process, including the linear model of innovation, the triple helix model, and the open innovation model. These models provide a theoretical framework for analysing the mechanisms through which universities contribute to the economy, highlighting the importance of collaboration between academia, industry, and government. The paper pays particular attention to the role of Technology Transfer Entities (TTEs) within universities, which are instrumental in managing intellectual property, licensing inventions, and fostering partnerships with external stakeholders. Through a comprehensive analysis, the paper reveals that while the financial benefits of knowledge transfer from universities are increasingly recognized, there remains a significant research gap in understanding how university knowledge can be effectively transformed into economic benefits. This gap is particularly pronounced in the context of transition economies, where data on knowledge transfer mechanisms and their impact on innovation and economic growth is scarce. The study emphasizes the need for a multidimensional approach to assess the effectiveness of university TTEs, considering individual, organizational, and ecosystem-level characteristics.

Towards a Paradigm Shift with Neuro-Entrepreneurship Education: a Lesson for the Developing Asian Nations

The field of neuro-entrepreneurship explores the specific characteristics that drive entrepreneurs' decisions and contribute to their success. Recent advancements in neuroscience offer a new way to understand how entrepreneurs think and behave. This understanding has led to a shift in entrepreneurial education, with a focus on integrating neuroscientific techniques. However, research in neuro-entrepreneurship is still fragmented, and there is a lack of comprehensive literature reviews. We are presenting a thorough review to address this gap and emphasize the urgent need for developing countries in South and South East Asia to incorporate neuroscientific techniques into entrepreneurial education, starting from the school level. The current entrepreneurial education in Sri Lanka suppresses the innovation and creativity of aspiring entrepreneurs, leading to a high demand for traditional practices. Integrating neuroscientific techniques into entrepreneurial education at all levels can help foster successful and productive entrepreneurs. This also emphasizes how experiments and neuroscientific techniques can improve entrepreneurial theories. This calls for a significant change in entrepreneurship education, aiming to cultivate a comprehensive entrepreneurial mindset in developing Asian nations.

Fostering Women Entrepreneurs: Exploring the Drivers of Successful Social Commerce Business Adoption Among Women

This study explores the determinants that contribute to the successful adoption of social commerce businesses among women, including entrepreneurial mindset, perceived value, social commerce literacy, and collaborative ecosystems. It also explores the potential impact of collaborative ecosystems and the successful adoption of social commerce businesses on women’s entrepreneurship. Targeting 223 women who are actively involved in social commerce businesses, data was analyzed using Smart PLS software. The results indicate that entrepreneurial mindset, perceived value, social commerce literacy, and collaborative ecosystems significantly impact the successful adoption of social commerce business among women. Furthermore, the study also found that the successful adoption of social commerce businesses and collaborative ecosystems has a significant impact on women’s entrepreneurship. This study contributes to the literature and theory of social commerce adoption, women entrepreneurship, and collaborative ecosystems in several ways. It makes a valuable contribution to social commerce theory by spotlighting the intricate interplay among diverse factors that collectively shape the successful adoption of social commerce ventures among women. The study’s findings also hold significant implications for a range of stakeholders, encompassing practical insights that can instigate positive transformations and enrich the realm of social commerce business and women’s entrepreneurship.

RESEARCH STATUS OF INNOVATION AND ENTREPRENEURSHIP EDUCATION ECOSYSTEM: DATA ANALYSIS FROM CNKI IN CHINA

Innovation and entrepreneurship education ecosystem is a hot and difficult issue in the field of innovation and entrepreneurship education research in recent years. The research on innovation and entrepreneurship education ecosystem in China has gone through 10 years of research and development. In order to grasp the current status, hotspots, trends and future of innovation and entrepreneurship education ecosystem research in China, 158 sample documents from the CNKI database were taken as the research object, and the bibliometric method was used to visualise and analyse the big data of the literature in terms of the amount of papers published annually, the research topics, the distribution of disciplines, the high-yield authors, the journals of the published papers, the institutions of the published papers, the high citations, the number of downloads, and the categories of the sources. Comparison. The results found that: China's innovation and entrepreneurship education ecosystem research is mainly divided into the disciplines of higher education and vocational education; journals such as Innovation and Entrepreneurship Theory, Research and Practice, Journal of Heilongjiang Institute of Education and Modernisation of Education are the main dissemination carriers; PKUC is the main source of journals for high-quality theses; Huangshan College, Wenzhou University, Northeast Normal University and Henan University of Technology are the main publication institutions ; Jiangsu Provincial Fund Project and Ministry of Education Fund Project are the main funding funds.

Exploring the effect of institutions on entrepreneurial ecosystems: A meta–analysis

ABSTRACT The role of institutions in fostering entrepreneurial ecosystems (EEs) has received increasing attention from scholars. This meta-analysis is the first to assess the effectiveness of formal institution, informal institutions and networks in enhancing EEs performance. As such, it blends institutional theory with the theory of entrepreneurship through the lens of EEs. Further, it aims to unveil potential moderators on the nexus between EEs and institutions. Our findings show that although formal and informal institutions and networks are significant determinants of EEs performance, their effect sizes depend on the measurement context of EEs, the level of economic development, cultural and spatial specificities. In this sense, our findings, apart from confirming the role of institutions in EEs performance, help further expanding theorizing on the strength of this relationship by highlighting their context dependence.

The Evolution of the Theory of Innovation Ecosystems in the Context of Strategisation

Introduction. The theory of innovation occupies one of the leading positions within the modern paradigm of economic development, as innovation is recognised as a driver of productivity improvement and cost optimisation, microeconomic stability, and macroeconomic growth. The determinants of innovation theory have become more profound, forming a synthesis with theories of economic cycles, technological development, entrepreneurship, management, and decision-making. Consequently, the theory of innovation has evolved, and the study of this process provides an up-to-date view of the theoretical foundation of innovation ecosystems. Aim and tasks. The aim is to systematise the stages of the evolution of the theory of innovation and strategic management and formalise the theoretical foundation of the modern theory of innovation ecosystems in the context of strategisation. Results. A systematic study of the genesis and ontogenesis of the theory of innovation and anagenesis of the theory of innovation ecosystem in the context of strategisation led to the determination of the characteristics of aromorphosis. Genesis and ontogenesis include the growing complexity of the innovation ecosystem and its adaptability to the changing innovation ecosystem in the long term, the dynamism of the composition of the innovation ecosystem without changing its strategic goals, the need for a second level of adaptation of the strategy of an individual actor within the strategy of the innovation ecosystem and strategic role, and increasing the integration of actors of the innovation process into systemic business processes (planning, organisation, motivation, control). Actors’ joint development within the ecosystem on mutually beneficial terms and possibilities for the strategic expansion of the innovation ecosystem locally and globally were analysed. In addition, the externalities of the development and spread of innovative ecosystems are outlined, and their strategic orientations are formulated. Conclusions. Due to anagenesis, an innovative ecosystem based on strategising improves adaptive resistance to changes in the external environment. Aromorphosis of an innovative ecosystem within anagenesis makes it possible to consider the properties of adaptation to the changing innovative ecotope as the basis of its theoretical foundation in the long term, the dynamism of the composition of the innovation ecosystem without changing its strategic goals, and the increasing integration of innovation process actors into systemic business processes.

The Creation Theory of Entrepreneurship and Lean Startup Frameworks: Complementary or Contradictory?

The practitioner framework, the Lean Startup, largely based on the experience of Blank (2013), and developed separately from scholarly work, has none-the-less made inroads in the academic literature. In reconciling The Lean Startup framework with entrepreneurship theory, Blank and Eckhardt argue that theory work in entrepreneurship is fragmented. However, this paper argues that these theories may not be as fragmented as implied. Indeed, many theories in entrepreneurship can be grouped into two “families”—one of which is broadly consistent with the model in The Lean Startup, while the other is deeply inconsistent with this model but consistent with an important theory in entrepreneurship: the Creation Theory of Entrepreneurial Opportunities. What this paper shows is that there are important differences that lead to boundary conditions between these two families of theory. More profound, these different approaches to the entrepreneurship process suggest they should be applied in different entrepreneurial settings and at different points in the process. This paper examines the link between the Creation Theory of Entrepreneurship and its associated family of theories and the Lean Startup framework and its associated family of theories, such as Discovery, IO Nexus, The Scientific Method, and so forth. The paper concludes by describing the different contexts under which each family of theories apply and suggests future research that empirically test the boundary conditions of these different theory families.

From independent inventor to inventor entrepreneur: an application of the knowledge spillover theory of entrepreneurship

From independent inventor to inventor entrepreneur: an application of the knowledge spillover theory of entrepreneurship

Redefining Entrepreneurship: Philosophical Insights in a Post-individualist Era

In the dynamic landscape of post-individualist entrepreneurship, this study delves into the profound interplay between philosophy and entrepreneurship. Guided by foundational philosophical tenets, including Spinoza’s ‘conatus’ and ‘affects’, Schopenhauer’s asceticism, and Nietzsche’s diverse perspectives, their implications for modern entrepreneurship are dissected. Employing a critical and analytical approach, the convergence and divergence between philosophy and entrepreneurship are explored. The methodology integrates philosophical works, entrepreneurship theories and social network concepts to unveil fresh insights into contemporary entrepreneurial behaviour. This study not only identifies significant resonances between these philosophical underpinnings and entrepreneurship but also confronts the challenges posed by philosophical contrasts. For instance, while Spinoza’s concept of ‘conatus’ resonates with the entrepreneurial drive for innovation and perseverance, Schopenhauer’s asceticism introduces a contrasting perspective, questioning the sustainability of entrepreneurial desires in the face of materialism and temporary gains. This juxtaposition challenges individuals to reevaluate the essence of entrepreneurial success, suggesting that it extends beyond mere financial gain to include deeper satisfaction and a more meaningful purpose that transcends fleeting desires. The study’s results offer tangible benefits for entrepreneurs, illuminating the emotional complexities, ethical implications and the intricate dynamics within entrepreneurial networks.

Theory of Intellectual Entrepreneurship: A Foundation Stone of Learning for Self Employed in Industry 4.0

Theory of Intellectual Entrepreneurship: A Foundation Stone of Learning for Self Employed in Industry 4.0

Man of Action: Murray N. Rothbard’s Contributions to the Theory of Entrepreneurship

Even though entrepreneurship underlies Rothbard’s economic theorizing, his contributions to this topic are spread among many writings. This paper traces a comprehensive idea of Rothbard’s “Man of Action,” the capitalist-entrepreneur in the causal-realist tradition of the Austrian School, organizing his thinking. Rothbard defines the entrepreneur as the economic agent who judges at the present about the future and directs production processes by controlling and allocating productive resources in search for profit. By organizing his ideas, I demonstrate how they differ from arguably similar approaches—notably Kirzner’s and Schumpeter’s—and argue that his strand of theorizing is the one in line with praxeology in the lineage of Menger, Böhm-Bawerk and Mises. I show that his contributions influenced others and are reflected in contemporaneous developments in both causal-realist and mainstream discussions. To close, I suggest how to use his ideas to continue to advance the theoretical understanding of the engine of the market process.

A CRITICAL APPROACH OF SOCIAL ENTREPRENEURSHIP THEORIES

Along with the evolution of society, the theories of social entrepreneurship have also evolved, and the aim of our research consists of the critical analysis of the theories related to entrepreneurial intention with a particularization of social entrepreneurship. Our research results led us to conclude that the Theory of Planned Behavior (TPB) is still a dominant theory used to measure entrepreneurial intention. However, the resource-based theory is much more oriented toward creating a genuine motivation for social entrepreneurs to transform their ideas into a social project, and the resources that the community makes available to the entrepreneurs have the potential to stimulate them to fulfill social goals. Consequently, the emotional feature of the social entrepreneur contributes to the promotion of entrepreneurial behavior oriented towards solving a specific social need of the community or society.

Catalysing Financial Inclusion in South Africa's Rural Landscape: A Theoretical Discourse of PoS Business Model

In countries like South Africa, where cash plays a pivotal role in social and economic life, limited access to financial institutions, in rural areas has led to significant economic challenges for citizens and businesses. This limitation has further exacerbated the financial exclusion of the underserved population resonating with poor economic growth. In addressing the issue, this desktop-based theoretical discourse, draws on the Technology Acceptance Model, Schumpeterian Entrepreneurship Theory, and Circular Flow of Income Model to conceptualise cash point-of-sale business model, as an innovative mechanism with the potential to spearhead the country’s financial inclusion efforts, entrepreneurial imperatives and local economic participation. The findings provide valuable insights for policymakers and financial institutions to design and implement effective financial inclusion policies in rural areas. By addressing unique challenges faced by rural communities, such as limited infrastructure and lower levels of education, a more inclusive and resilient financial ecosystem can be achieved, contributing to broader social and economic development goals in South Africa's rural landscape. An exploratory empirical study is further recommended to pave the way for the development of a contextual framework to guide the model’s implementation in South Africa.

MNCs’ Corporate Social Innovation in Emerging Markets: Antecedents, Outcomes, and Boundary Conditions

This study examines (i) the relationship between first social mover multinational corporations (MNCs) and corporate social innovation (CSI); (ii) the impact of MNCs’ CSI on social value creation; and (iii) the moderating role of local embeddedness on the relationship between the first social mover MNCs, CSI, and social value creation. The study builds from the behavioral theory of social entrepreneurship. Primary data was collected from 150 MNCs operating in Nigeria—a social and resource-constrained emerging market in sub-Saharan Africa. Findings show that there is a positive relationship between first social mover MNCs and CSI. The findings also show that CSI has a positive relationship with social value creation. Furthermore, the findings reveal that local embeddedness strengthens the path between first social mover MNCs, CSI, and social value creation path. These findings have important implications for CSI and international management research as well as the growth and management of MNCs operating in emerging markets in sub-Saharan Africa.

From Studio to Runway: Ghanaian Fashion Designers' Creative Processes

Purpose: The fashion scene in Ghana is a dynamic fabric knit together with creative designs. We explore the inspirations and creative processes of Ghanaian fashion designers as they get from studio to catwalk. The objective of the study is to investigate and clarify the inspirations and creative processes that propel Ghanaian fashion designers from ideation to catwalk presentation. Methodology: The paradigm used was a qualitative research approach. This includes observations, interviews, and portfolio analysis of fifteen (15) selected fashion designers in Sekondi Takoradi Metropolis. The collected data were analyzed using thematic analysis. Findings: The findings of the research indicate the diverse range of elements influencing Ghanaian fashion designers' creative processes. This creative journey reflects not only the designers' technical expertise but also their profound connection to their cultural heritage and their ability to translate inspiration into tangible works of art. While the runway remains a traditional showcase for designers, leveraging digital platforms can extend their reach and visibility. In recommendation, designers can explore virtual fashion shows, live-streaming events, or interactive online galleries to showcase their collections to a global audience. Embracing digital innovation can amplify brand exposure and drive engagement with fashion enthusiasts worldwide. Ghanaian designers should collaborate with international platforms, this can help them gain recognition and share their culture with the world. Unique Contribution to Theory, Practice and Policy: The study also contributes to theories of creative processes within design disciplines shedding light on the systematic stages involved in fashion design. By applying entrepreneurship theory, we can analyze how Ghanaian designers identify market opportunities, innovate in design, and create value for their businesses. This was validated in the study where designers conceptualize, iterate, and refine their ideas, thus contributing to the broader discourse on creative practice. From a practical standpoint, this study offers valuable insights for both emerging and established fashion designers, particularly those operating within culture-based industries. The study contributes to theory by documenting the systematic creative processes employed by Ghanaian designers, it provides a roadmap for other practitioners to follow, helping them enhance their design practices and navigate the complexities of the fashion industry.

Establishing new medical schools in diverse contexts: A novel conceptual framework for success.

Establishing a new medical school is a significant venture involving many complex political, social, economic, educational, and organisational considerations. The published literature on the process of establishing a new medical school is, however, under-developed with minimal empirical research and no explicit reference to theory. This research sought to address these gaps and establish an empirical and theoretical evidence-base for the process of new medical school establishment in diverse contexts, particularly medically under-served areas. A Critical Realist Multiple Case Study was undertaken to examine the establishment of new medical schools across three continents. Data were collected between 2016 and 2018 through observational data gathered on site visits to three medical schools in medically under-served areas, relevant documents/audio-visual materials, and semi-structured interviews with key founding personnel. Data were analysed using the Critical Realist approach. Institutional Entrepreneurship theory was applied, adapted, and extended to explore and explain the phenomenon of new medical school establishment in diverse contexts. This study identifies eight critical success factors underpinning new medical school establishment. Framed as the Eight C's Framework (8CF), these factors include Context (field conditions), Catalysts (institutional entrepreneurs), Conducing (helping to bring about a particular situation or outcome), Collecting (resources), Connecting (relationships), Convincing (rationales), Challenges, and Consequences (outcomes). 8CF highlights that new medical schools are successfully established when Catalysts act within their Contexts to undertake the tasks of Conducing, Convincing, Collecting, and Connecting in order to produce desired Consequences and overcome Challenges. The Eight C's Framework is a theory-based, empirically supported framework that can be applied across different contexts to strategically guide the successful establishment of new medical schools. Founding leaders and stakeholders could use 8CF to ensure their establishment efforts are underpinned by theory and scholarship.