This article extends the real options view from the firm level to the societal level, by exploring how government policies facilitate entrepreneurship development. Governments can focus on generating positive externalities, as opposed to avoiding failure for individual firms. Treating the bundle...

In a departure from prior studies presuming a beneficial experience effect in foreign direct investment (FDI), the present paper examines the conditions under which FDI experience may actually harm subsequent subsidiaries. We argue that multinational enterprises (MNEs) may draw erroneous...

This paper sketches the contours of a theory of entrepreneurship focusing on the nature of entrepreneurship as intermediation under information asymmetries. While entrepreneurship, strategy, and finance researchers have studied the relationship between entrepreneurs and intermediaries, they tend...

Much of our understanding of competitive advantage draws upon the experience of Western firms. Massive Japanese investment in an effort to replicate keiretsu (interfirm) networks in Asia since the 1980s presents fertile grounds to shed new light on the sources of competitive advantage. Building...