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Why Are Some Entrepreneurs More Innovative Than Others?

  • Koellinger, Ph.D.

The study provides theoretical insights and empirical evidence on the emergence of different types and degrees of entrepreneurial innovativeness. The results suggest that entrepreneurial innovativeness depends both on individual factors and on the environment in which the individual lives. In particular, high educational attainment and a high degree of self-confidence are significantly associated with entrepreneurial innovativeness at the individual level. Furthermore, entrepreneurs in highly developed countries are more likely to engage in innovative rather than purely imitative activities. The results also show that product, process, and variety innovations have at least to some extent different antecedents.

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Paper provided by Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam in its series ERIM Report Series Research in Management with number ERS-2007-024-ORG.

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Date of creation: 11 Apr 2007
Date of revision:
Handle: RePEc:ems:eureri:9730
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RSM Erasmus University & Erasmus School of Economics, PoBox 1738, 3000 DR Rotterdam

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  10. Antonio Bernardo & Ivo Welch, 2001. "On the Evolution of Overconfidence and Entrepreneurs," Yale School of Management Working Papers ysm211, Yale School of Management, revised 01 Nov 2003.
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  12. Cliff, Jennifer E. & Jennings, P. Devereaux & Greenwood, Royston, 2006. "New to the game and questioning the rules: The experiences and beliefs of founders who start imitative versus innovative firms," Journal of Business Venturing, Elsevier, vol. 21(5), pages 633-663, September.
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  24. Jeffery S. McMullen & Lawrence A. Plummer & Zoltan J. Acs, 2007. "What is an Entrepreneurial Opportunity?," Papers on Entrepreneurship, Growth and Public Policy 2007-10, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
  25. Richard H. Thaler & Amos Tversky & Daniel Kahneman & Alan Schwartz, 1997. "The Effect of Myopia and Loss Aversion on Risk Taking: An Experimental Test," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 647-661.
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  27. Shepherd, Dean A. & Zacharakis, Andrew & Baron, Robert A., 2003. "VCs' decision processes: Evidence suggesting more experience may not always be better," Journal of Business Venturing, Elsevier, vol. 18(3), pages 381-401, May.
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