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Creating strategic advantage through entrepreneurial governance in new ventures

Audretsch, David B.; Lehmann, Erik E.; Plummer, Lawrence A. - 2007

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/10010263845

The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists, and Oligopolists

Norbäck, Pehr-Johan; Persson, Lars - 2004

The starting point of this paper is that the exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent...

Persistent link: https://www.econbiz.de/10010320055

Creative Destruction and Productive Preemption

Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - 2009

We develop a theory of commercialization mode (entry or sale) of entrepreneurial inventions into oligopoly, and show that an invention of higher quality is more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Moreover, preemptive...

Persistent link: https://www.econbiz.de/10010320309

Creative destruction and productive preemption

Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - 2013

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...

Persistent link: https://www.econbiz.de/10010291511

Venture Capitalists, Asymmetric Information, and Ownership in the Innovation Process

Fabrizi, Simona; Lippert, Steffen; Norbäck, Peh; … - 2008

In this paper we construct a model in which entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We show that as exacerbated development by better-informed venture-backed rms...

Persistent link: https://www.econbiz.de/10010320264

Is entrepreneurial success predictable? An ex-ante analysis of the character-based approach

Caliendo, Marco; Kritikos, Alexander S. - 2007

This paper empirically analyzes whether the character-based approach, which is based on the personality structure and the human capital of business founders, allows prediction of entrepreneurial success. A unique data set is used consisting of 414 previously unemployed persons whose personal...

Persistent link: https://www.econbiz.de/10010297258

Exploring the knowledge filter: how entrepreneurship and university-industry relations drive economic growth

Mueller, Pamela - 2005

hypotheses that entrepreneurship and university-industry relations are vehicles for knowledge flows and, thus, spur economic …

Persistent link: https://www.econbiz.de/10010298518

Regional determinants of new business formation in China: Prefecture-level evidence

Borowiecki, Martin; Leitner, Karl-Heinz - 2015

entrepreneurship. …

Persistent link: https://www.econbiz.de/10011400491

Entrepreneurship and the Reallocation of African Farmers

Naudé, Wim - 2015

transformation, will stagnate. One such endogenous driver is entrepreneurship. In this paper I start with the reappraisal of African … agriculture and focus on the literature on entrepreneurship in Africa's structural transformation. I present a conceptual model to … describe how entrepreneurship reallocates farmers out of agriculture into non-agricultural activities and locations. Recent …

Persistent link: https://www.econbiz.de/10011401794

Peace, prosperity and pro-growth entrepreneurship

Naudé, Wim - 2007

Support for entrepreneurship is widely seen as a mechanism to facilitate prosperity and peace in a growing number of … post-conflict states. In this paper I critically evaluate this view. I argue that entrepreneurship is a ubiquitous quality … in post-conflict states but not necessarily always for the good. Unproductive and destructive entrepreneurship may …

Persistent link: https://www.econbiz.de/10010323518

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