Showing 1 - 8 of 8
entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of innovation in the economics literature … opportunity by developing a knowledge spillover theory of entrepreneurship. The basic argument is that knowledge created … endogenously via R&D results in knowledge spillovers. Such spillovers give rise to opportunities to be identified and exploited by …
Persistent link: https://www.econbiz.de/10005588033
existing knowledge is supplemented by the idea that markets are also most effectively creating new knowledge. However, in his … assessment Hayek neglects the role of new technological knowledge. He ignores that the discovery procedure induces not only price …
Persistent link: https://www.econbiz.de/10009643731
An important literature has made a fundamental link between corporate governance and corporate strategy. According to agency theory, assigning managers stock options aligns their interests with the interests of the owners of the firm. This paper suggests that this may not apply in the context of...
Persistent link: https://www.econbiz.de/10005090583
The functionality of organizational routines, i.e. the factual value for accomplishing their purposes, is an important constraint on the capabilities an organization can bring to bear on its operations. Often falling short of its potential, the actual make-up of organizational routines invites...
Persistent link: https://www.econbiz.de/10008632869
The intellectual breakthrough contributed by the new growth theory was the recognition that investments in knowledge … and human capital endogenously generate economic growth through the spillover of knowledge. Endogenous growth theory does … not explain how or why spillovers occur. The missing link is the mechanism converting knowledge into economically relevant …
Persistent link: https://www.econbiz.de/10005765221
This paper explores the relationship between knowledge creation, entrepreneurship, and economic growth in the United … States over the last 150 years. According to the "new growth theory", investments in knowledge and human capital generate … economic growth via spillovers of knowledge. But the theory does not explain how or why spillovers occur, or why large …
Persistent link: https://www.econbiz.de/10005090491
This paper discusses several features of knowledge that are often considered crucial for characterizing the economic … significance of knowledge: whether it is overtly accessible or tacit, whether it can be or is encoded or not, and whether it has … public or private good character. It is argued that all these features depend similarly on the state of the knowledge …
Persistent link: https://www.econbiz.de/10005090570
To produce an effect, knowledge needs to be first acquired and expressed by a human agent. This trivial fact is a … constraint on knowledge commercialization. The highly systemic nature of the decentralized production of knowledge is another …, focusing particularly on the often-neglected entrepreneurial aspects of the transfer of knowledge. It shows how the constraints …
Persistent link: https://www.econbiz.de/10008603418