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The Meaning of Entrepreneurship: A Modular Concept

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  • Michael Peneder

    (WIFO)

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

Paper provided by WIFO in its series WIFO Working Papers with number 335.

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Length: 34 pages
Date of creation: 16 Mar 2009
Date of revision:
Handle: RePEc:wfo:wpaper:y:2009:i:335

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Keywords: Entrepreneurship; market co-ordination; innovation; technology diffusion; occupational choice;

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References

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  1. Magnus Henrekson & Dan Johansson, 2010. "Gazelles as job creators: a survey and interpretation of the evidence," Small Business Economics, Springer, vol. 35(2), pages 227-244, September.
  2. Santarelli, Enrico & Vivarelli, Marco, 2006. "Entrepreneurship and the Process of Firms’ Entry, Survival and Growth," IZA Discussion Papers 2475, Institute for the Study of Labor (IZA).
  3. Thomas Grebel & Andreas Pyka & Horst Hanusch, 2003. "An Evolutionary Approach to the Theory of Entrepreneurship," Industry and Innovation, Taylor & Francis Journals, vol. 10(4), pages 493-514.
  4. 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.
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  7. 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, vol. 87(4), pages 719-48, August.
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  9. Roy Thurik & Isabel Grilo, 2005. "Latent and actual entrepreneurship in Europe and the US: some recent developments," Papers on Entrepreneurship, Growth and Public Policy 2005-24, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
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  12. Ekelund, Robert B, Jr & Hebert, Robert F, 1991. "Dupuit's Characteristics-Based Theory of Consumer Behavior and Entrepreneurship," Kyklos, Wiley Blackwell, vol. 44(1), pages 19-34.
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  15. Wennekers, Sander & Thurik, Roy, 1999. " Linking Entrepreneurship and Economic Growth," Small Business Economics, Springer, vol. 13(1), pages 27-55, August.
  16. Serguei Kaniovski & Michael Peneder, 2008. "Determinants of firm survival: a duration analysis using the generalized gamma distribution," Empirica, Springer, vol. 35(1), pages 41-58, March.
  17. Schmitz, James A, Jr, 1989. "Imitation, Entrepreneurship, and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 721-39, June.
  18. Witt, Ulrich, 1999. " Do Entrepreneurs Need Firms? A Contribution to a Missing Chapter in Austrian Economics," The Review of Austrian Economics, Springer, vol. 11(1-2), pages 99-109.
  19. Beck, Thorsten & Demirgüç-Kunt, Asli & Maksimovic, Vojislav, 2008. "Financing patterns around the world: Are small firms different?," Journal of Financial Economics, Elsevier, vol. 89(3), pages 467-487, September.
  20. Nadim Ahmad & Richard G. Seymour, 2008. "Defining Entrepreneurial Activity: Definitions Supporting Frameworks for Data Collection," OECD Statistics Working Papers 2008/1, OECD Publishing.
  21. Nadim Ahmad & Anders Hoffman, 2008. "A Framework for Addressing and Measuring Entrepreneurship," OECD Statistics Working Papers 2008/2, OECD Publishing.
  22. Isabel Grilo & Jesus-Maria Irigoyen, 2006. "Entrepreneurship in the EU: To Wish and not to be," Small Business Economics, Springer, vol. 26(4), pages 305-318, 05.
  23. Baumol William J. & Litan Robert E & Schramm Carl J, 2007. "Sustaining Entrepreneurial Capitalism," Capitalism and Society, De Gruyter, vol. 2(2), pages 1-38, November.
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Citations

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Cited by:
  1. 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 0137, CEDLAS, Universidad Nacional de La Plata.
  2. Michael Peneder, 2010. "Technological Regimes and the Variety of Innovation Behaviour. Creating Integrated Taxonomies of Firms and Sectors," WIFO Working Papers 362, WIFO.
  3. Werner Hölzl, 2010. "The Economics of Entrepreneurship Policy: Introduction to the Special Issue," Journal of Industry, Competition and Trade, Springer, vol. 10(3), pages 187-197, September.
  4. Magnus Henrekson & Dan Johansson & Mikael Stenkula, 2010. "Taxation, Labor Market Policy and High-Impact Entrepreneurship," Journal of Industry, Competition and Trade, Springer, vol. 10(3), pages 275-296, September.
  5. Michael Peneder & Martin Woerter, 2014. "Competition, R&D and innovation: testing the inverted-U in a simultaneous system," Journal of Evolutionary Economics, Springer, vol. 24(3), pages 653-687, July.

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