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We develop a new perspective on the boundary of the firm that is consistent with the empirical observation that the share of entrepreneurs first decreases and then increases in the course of economic development. Existing theory based on transaction costs is difficult to relate to these...
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This paper revisits the two-equation model of Carree, van Stel, Thurik and Wennekers (2002) where deviations from the ‘equilibrium’ rate of business ownership play a central role determining both the growth of business ownership and that of economic development. Two extensions of the...
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claim that entrepreneurship has important economic value. Hence, a systematic review is provided that answers the question … group’? A fourth type of contribution studied is the role of entrepreneurship in increasing individuals’ utility levels …
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>entrepreneurial economy</I>. In particular, the empirical evidence provides consistent support that (1) the role of entrepreneurship has … may be that the current approach to entrepreneurship policy is misguided. The priority should not be on entrepreneurship …
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knowledge based entrepreneurial activity. Second, knowledge based entrepreneurship positively affects regional economic … particular, our results suggest that innovation efforts have an indirect effect on economic performance via entrepreneurship …
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