Introduction

Current theories or strategies of entrepreneurship for firms mostly focus on advanced economies and rarely on emerging markets. The ongoing trend of globalisation provides great opportunities for entrepreneurs in emerging markets to engage in the global production chain and to learn technology and managerial skills from advanced countries. Many small and medium-sized firms have been created and some have grown and transformed into successful global enterprises in emerging markets. The Schumpeterian gale of creative destruction led by entrepreneurs can also be witnessed in many transition economies of former communist countries, which used to suffer from institutional predicaments of promoting entrepreneurship. Interesting topics in emerging markets - such as what the entrepreneurial process for successful firms is, how networks facilitate entrepreneurial performance, how ongoing institutions affect entrepreneurial behaviour, etc. - are some of the many outstanding areas still to be explored. This special issue provides a forum to show how entrepreneurship exerts its influence on firm formation, firm growth, and firm transformation in emerging markets.