Entrepreneurship, Subjectivism, and the Resource-Based View: Towards a New Synthesis
AbstractThis paper maintains that the consistent application of subjectivism helps to reconcile contemporary entrepreneurship theory with strategic management research in general, and the resource-based view in particular. The paper synthesizes theoretical insights from Austrian economics and Penrose's (1959) resources approach, arguing that entrepreneurship is inherently subjective and firm specific. This new synthesis describes how entrepreneurship is manifested in teams, and is driven by both heterogeneity of managerial mental models and shared team experiences.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Illinois at Urbana-Champaign, College of Business in its series Working Papers with number 06-0121.
Date of creation: 2006
Date of revision:
Contact details of provider:
Web page: http://www.business.uiuc.edu/Working_Papers/Main.asp
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kirsten Foss & Nicolai J. Foss & Peter G. Klein, 2006. "Original and Derived Judgment An Entrepreneurial Theory of Economic Organization," DRUID Working Papers 06-09, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Richard N. Langlois, 2005.
"The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm,"
2005-27, University of Connecticut, Department of Economics, revised Oct 2005.
- Richard N. Langlois, 2007. "The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1107-1124, November.
- Lachmann, Ludwig M, 1976. "From Mises to Shackle: An Essay on Austrian Economics and the Kaleidic Society," Journal of Economic Literature, American Economic Association, vol. 14(1), pages 54-62, March.
- Mahoney, Joseph T., 1995. "The management of resources and the resource of management," Journal of Business Research, Elsevier, vol. 33(2), pages 91-101, June.
- Kirsten Foss & Nicolai J. Foss & Peter G. Klein & Sandra K. Klein, 2007. "The Entrepreneurial Organization of Heterogeneous Capital," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1165-1186, November.
- Nicolai J. Foss & Peter G. Klein, 2004. "Entrepreneurshoip and the Economic Theory of the Firm Any Gains from Trade?," DRUID Working Papers 04-12, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
- Slater, Martin, 1980. "The Managerial Limitation to the Growth of Firms," Economic Journal, Royal Economic Society, vol. 90(3593), pages 520-28, September.
- Alvarez, Sharon A. & Barney, Jay B., 2004. "Organizing rent generation and appropriation: toward a theory of the entrepreneurial firm," Journal of Business Venturing, Elsevier, vol. 19(5), pages 621-635, September.
- Witt, Ulrich, 1998. "Imagination and leadership - The neglected dimension of an evolutionary theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 35(2), pages 161-177, April.
- Charles W. L. Hill, 1996. "The Importance Of Industry Structure For The Determination Of Firm Profitability: A Neo-Austrian Perspective," Journal of Management Studies, Wiley Blackwell, vol. 33(4), pages 429-451, 07.
- Kirsten Foss & Nicolai J. Foss, .
"Assets, Attributes and Ownership,"
IVS/CBS Working Papers
00-3, Department of Industrial Economics and Strategy, Copenhagen Business School.
- Kirsten Foss & Nicolai Foss, 2001. "Assets, Attributes and Ownership," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 8(1), pages 19-37.
- Jerker Denrell & Christina Fang & Sidney Winter, 2003. "The Economics of Strategic Opportunity," LEM Papers Series 2003/10, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Yasemin Y. Kor & Joseph T. Mahoney & Steven C. Michael, 2007. "Resources, Capabilities and Entrepreneurial Perceptions," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1187-1212, November.
- Danchi Tan & Joseph T. Mahoney, 2005. "Examining the Penrose effect in an international business context: the dynamics of Japanese firm growth in US industries," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 113-127.
- Armen A. Alchian & Harold Demsetz, 1971.
"Production, Information Costs and Economic Organizations,"
UCLA Economics Working Papers
10A, UCLA Department of Economics.
- Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-95, December.
- Shaker A. Zahra & Harry J. Sapienza & Per Davidsson, 2006. "Entrepreneurship and Dynamic Capabilities: A Review, Model and Research Agenda," Journal of Management Studies, Wiley Blackwell, vol. 43(4), pages 917-955, 06.
- Kim, Jongwook & Mahoney, Joseph T., 2006. "How Property Rights Economics Furthers the Resource-Based View: Resources, Transaction Costs and Entrepreneurial Discovery," Working Papers 06-0100, University of Illinois at Urbana-Champaign, College of Business.
- Thornhill, Stewart & Amit, Raphael, 2001. "A dynamic perspective of internal fit in corporate venturing," Journal of Business Venturing, Elsevier, vol. 16(1), pages 25-50, January.
- Nicolai J. Foss, 1996. "Austrian and Post-Marshallian EconomicsThe Bridging Work of George Richardson," DRUID Working Papers 96-4, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
- Rubin, Paul H, 1973. "The Expansion of Firms," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 936-49, July-Aug..
- Elizabeth E. Bailey & Constance E. Helfat, 2003. "External management succession, human capital, and firm performance: an integrative analysis," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 347-369.
- Foss, Nicolai J, 1999. "Edith Penrose, Economics and Strategic Management," Contributions to Political Economy, Oxford University Press, vol. 18(0), pages 87-104.
- Peter Lewin & Howard Baetjer, 2011. "The capital-based view of the firm," The Review of Austrian Economics, Springer, vol. 24(4), pages 335-354, December.
- Pätäri, Satu & Kyläheiko, Kalevi & Sandström, Jaana, 2011. "Opening up new strategic options in the pulp and paper industry: Case biorefineries," Forest Policy and Economics, Elsevier, vol. 13(6), pages 456-464, July.
- Kim, Jongwook & Mahoney, Joseph T., 2008. "A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach," Working Papers 08-0108, University of Illinois at Urbana-Champaign, College of Business.
- Bettiol, M & Di Maria, E & Finotto, Vladi, 2012. "Marketing in smes: the role of entrepreneurial sensemaking," MPRA Paper 39405, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.