An important literature has made a fundamental link between corporate governanceand corporate strategy. According to agency theory, assigning managersstock 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...

What is meant by entrepreneurship, innovation and economic growth is often not clear or very idiosyncratic. This paper starts with a discussion of the nature of entrepreneurship and its relation to innovation. The second section provides an overview of theory and empirical research on the...

This paper discusses the role of so-called national champions within the context of the EU's ambitious goal to become the most competitive and dynamic knowledge-based economic region in the world by 2010. We find football to be a useful analogy in our discussion of national champions. There are...

Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual's decision to start a business is determined by his or...

Democratic capitalism has become the popular paradigm in the modern world, and it is spreading further through globalization. It is a model based on growth, expansion and constant innovation. However, it is accompanied by social problems which may worsen despite overall gains in wealth. In this...

This paper analyses the effects of innovation networks on product and pro-cess innovation and sales growth of high technology SMEs. Innovation net-works are positively related to both product and process innovation, i.e. know-ledge creation. One exception is the negative effect of innovation...

This case follows Sethu Sethunarayanan, Director of the non-profit Center for the De-velopment of Disadvantaged People (CDDP), which is dedicated to the improvement of the Irula tribe in rural villages of southeast India. The Irulas specialize in catching rats, an activity which provides the...

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...

External finance is central for nascent entrepreneurs, people in the process of starting new ventures. We argue that nascent entrepreneurs use patents and prototypes in order to signal their ability to appropriate the returns from their innovation as well as the project´s feasibility. Our...