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Measuring the market newness of new ventures

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  • Dahlqvist, Jonas
  • Wiklund, Johan
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    Abstract

    The present lack of instruments for measuring entrepreneurial opportunity is hampering progress in entrepreneurship research and fundamental hypotheses about opportunity variance are not being tested. This paper sets out to validate a measure of market newness in new ventures based in Austrian Economics, assuming a view of opportunity as objective and discoverable. Empirically, a sample of 250 new internal ventures in gestation was examined regarding to whom these ventures presented something new in terms of geographical extension or new customer groups. The measure improves on existing instruments by providing more intrinsic range while being firmly anchored in an Austrian Economics framework.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0883902610001011
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Venturing.

    Volume (Year): 27 (2012)
    Issue (Month): 2 ()
    Pages: 185-196

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    Handle: RePEc:eee:jbvent:v:27:y:2012:i:2:p:185-196

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    Web page: http://www.elsevier.com/locate/jbusvent

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    Keywords: entrepreneurial opportunity; individual-opportunity nexus; Austrian economics; Kirzner; measurement theory;

    References

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    1. Kirzner, Israel M, 1999. " Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," The Review of Austrian Economics, Springer, Springer, vol. 11(1-2), pages 5-17.
    2. Mikael Samuelsson & Per Davidsson, 2009. "Does venture opportunity variation matter? Investigating systematic process differences between innovative and imitative new ventures," Small Business Economics, Springer, Springer, vol. 33(2), pages 229-255, August.
    3. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 35(1), pages 60-85, March.
    4. Amason, Allen C. & Shrader, Rodney C. & Tompson, George H., 2006. "Newness and novelty: Relating top management team composition to new venture performance," Journal of Business Venturing, Elsevier, Elsevier, vol. 21(1), pages 125-148, January.
    5. Davidsson, Per & Honig, Benson, 2003. "The role of social and human capital among nascent entrepreneurs," Journal of Business Venturing, Elsevier, Elsevier, vol. 18(3), pages 301-331, May.
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    Cited by:
    1. Tristan Boyer & Regis Blazy, 2013. "Born to be alive? The survival of innovative and non-innovative French micro start-ups," Working Papers, Department of Research, Ipag Business School 2013-012, Department of Research, Ipag Business School.

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