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Measuring the market newness of new ventures


  • Dahlqvist, Jonas
  • Wiklund, Johan


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.

Suggested Citation

  • Dahlqvist, Jonas & Wiklund, Johan, 2012. "Measuring the market newness of new ventures," Journal of Business Venturing, Elsevier, vol. 27(2), pages 185-196.
  • Handle: RePEc:eee:jbvent:v:27:y:2012:i:2:p:185-196
    DOI: 10.1016/j.jbusvent.2010.12.001

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    References listed on IDEAS

    1. 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.
    2. Davidsson, Per & Honig, Benson, 2003. "The role of social and human capital among nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(3), pages 301-331, May.
    3. Mikael Samuelsson & Per Davidsson, 2009. "Does venture opportunity variation matter? Investigating systematic process differences between innovative and imitative new ventures," Small Business Economics, Springer, vol. 33(2), pages 229-255, August.
    4. Kirzner, Israel M, 1999. "Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 11(1-2), pages 5-17.
    5. 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, vol. 21(1), pages 125-148, January.
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    Cited by:

    1. repec:wsi:jdexxx:v:22:y:2017:i:01:n:s1084946717500029 is not listed on IDEAS
    2. Vandor, Peter & Franke, Nikolaus, 2016. "See Paris and… found a business? The impact of cross-cultural experience on opportunity recognition capabilities," Journal of Business Venturing, Elsevier, vol. 31(4), pages 388-407.
    3. Stratos Ramoglou & Stelios Zyglidopoulos, 2015. "The constructivist view of entrepreneurial opportunities: a critical analysis," Small Business Economics, Springer, vol. 44(1), pages 71-78, January.
    4. repec:krk:eberjl:v:4:y:2016:i:3:p:131-152 is not listed on IDEAS
    5. Patricia Kotnik & Rok Stritar, 2015. "ICT as the Facilitator of Entrepreneurial Activity: An Empirical Investigation," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 277-277, February.
    6. Thorsten Semrau & Christian Hopp, 2016. "Complementary or compensatory? A contingency perspective on how entrepreneurs’ human and social capital interact in shaping start-up progress," Small Business Economics, Springer, vol. 46(3), pages 407-423, March.
    7. repec:krk:eberjl:v:4:y:2016:i:3:p:181-193 is not listed on IDEAS
    8. Tristan Boyer & Régis Blazy, 2014. "Born to be alive? The survival of innovative and non-innovative French micro-start-ups," Small Business Economics, Springer, vol. 42(4), pages 669-683, April.
    9. Hyytinen, Ari & Pajarinen, Mika & Rouvinen, Petri, 2015. "Does innovativeness reduce startup survival rates?," Journal of Business Venturing, Elsevier, vol. 30(4), pages 564-581.


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