This paper discusses the nature and role of positive illusions in the exploitation of new ideas and innovation leading to the development of new enterprises and industries. Positive illusions imply misperceptions of oneself and the environment that can lead to faulty investments and...

A review of the extant literature concludes that market-driven intangibles and innovations are increasingly considered to be the most critical firm-specific resources, but also finds a lack of elaboration of which types of these resources are most important. In this paper, we incorporate these...