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The Meaning of Entrepreneurship: A Modular Concept

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  • Michael Peneder

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Abstract

Entrepreneurship has been characterised as one of the most intriguing but equally elusive concepts in economics. This critical review first surveys its major intellectual roots and then proposes a modular concept of entrepreneurship that preserves its essentially distinctive behavioural, functional, and occupational dimensions. It argues that the behavioural definition identifies the only attribute that is both comprehensive and unique to the nature of entrepreneurship, while the functional and occupational definitions add what is specificity required for many analytical purposes. To validate the concept, the paper discusses the appropriate empirical units of observation and maps a general policy framework.

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Bibliographic Info

Article provided by Springer in its journal Journal of Industry, Competition and Trade.

Volume (Year): 9 (2009)
Issue (Month): 2 (June)
Pages: 77-99

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Handle: RePEc:kap:jincot:v:9:y:2009:i:2:p:77-99

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Web page: http://springerlink.metapress.com/link.asp?id=105724

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Keywords: entrepreneurship; market co-ordination; innovation; technology diffusion; occupational choice; M13; B15; B25.;

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References

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  1. Wennekers, Sander & Thurik, Roy, 1999. " Linking Entrepreneurship and Economic Growth," Small Business Economics, Springer, Springer, vol. 13(1), pages 27-55, August.
  2. Isabel Grilo & Jesus-Maria Irigoyen, 2006. "Entrepreneurship in the EU: To Wish and not to be," Small Business Economics, Springer, Springer, vol. 26(4), pages 305-318, 05.
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  8. Roy Thurik & Sander Wennekers & Ingrid Verheul & David Audretsch, 2001. "An eclectic theory of entrepreneurship: policies, institutions and culture," Scales Research Reports H200012, EIM Business and Policy Research.
  9. Henrekson, Magnus & Johansson, Dan, 2008. "Gazelles as Job Creators – A Survey and Interpretation of the Evidence," Working Paper Series, Research Institute of Industrial Economics 733, Research Institute of Industrial Economics.
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  11. Roy Thurik & Isabel Grilo, 2005. "Latent and actual entrepreneurship in Europe and the US: some recent developments," Papers on Entrepreneurship, Growth and Public Policy, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group 2005-24, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  12. Silva, Olmo, 2006. "The Jack-of-All-Trades Entrepreneur: Innate Talent or Acquired Skill?," IZA Discussion Papers 2264, Institute for the Study of Labor (IZA).
  13. Van Praag, C Mirjam & Van Ophem, Hans, 1995. "Determinants of Willingness and Opportunity to Start as an Entrepreneur," Kyklos, Wiley Blackwell, vol. 48(4), pages 513-40.
  14. Kihlstrom, Richard E & Laffont, Jean-Jacques, 1979. "A General Equilibrium Entrepreneurial Theory of Firm Formation Based on Risk Aversion," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 87(4), pages 719-48, August.
  15. Beck, Thorsten & Demirgüç-Kunt, Asli & Maksimovic, Vojislav, 2008. "Financing patterns around the world: Are small firms different?," Journal of Financial Economics, Elsevier, Elsevier, vol. 89(3), pages 467-487, September.
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  18. repec:att:wimass:8827 is not listed on IDEAS
  19. Holmes, Thomas J & Schmitz, James A, Jr, 1990. "A Theory of Entrepreneurship and Its Application to the Study of Business Transfers," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(2), pages 265-94, April.
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Citations

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Cited by:
  1. Michael Peneder & Martin Woerter, 2014. "Competition, R&D and innovation: testing the inverted-U in a simultaneous system," Journal of Evolutionary Economics, Springer, Springer, vol. 24(3), pages 653-687, July.
  2. Werner Hölzl, 2010. "The Economics of Entrepreneurship Policy: Introduction to the Special Issue," Journal of Industry, Competition and Trade, Springer, Springer, vol. 10(3), pages 187-197, September.
  3. Michael Peneder, 2010. "Technological Regimes and the Variety of Innovation Behaviour. Creating Integrated Taxonomies of Firms and Sectors," WIFO Working Papers, WIFO 362, WIFO.
  4. Henrekson, Magnus & Johansson, Dan & Stenkula, Mikael, 2010. "Taxation, Labor Market Policy and High-Impact Entrepreneurship," Ratio Working Papers, The Ratio Institute 149, The Ratio Institute.
  5. Pablo Gluzmann & David Jaume & Leonardo Gasparini, 2012. "Decisiones laborales en América Latina: el caso de los emprendedores. Un estudio sobre la base de encuestas de hogares," CEDLAS, Working Papers, CEDLAS, Universidad Nacional de La Plata 0137, CEDLAS, Universidad Nacional de La Plata.

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