☆ JOURNAL OF BUSINESS VENTURING ☆
Volume 32, Issue 5, September 2017, Pages 461-475
” A theory of entrepreneurship and institutional uncertainty ”
Per L. Bylund, Matthew McCaffrey
~~~~~~~~~~~~~~~~~~ ABSTRACT ~~~~~~~~~~~~~~~~~~
Uncertainty and institutions are each vital concepts in entrepreneurship research. However, little work has been done to combine them into a consistent conceptual framework for analyzing the dynamic aspects of entrepreneurial action, uncertainty, and institutional change. Using insights from new institutional economics, we develop a model that explains the institutional uncertainty resulting from conflicts between institutions on different “levels” of social activity. We further explain how entrepreneurs can both cause and mitigate this uncertainty through market and institutional action. Finally, we focus on a special case of institutional uncertainty, “regime uncertainty”, wherein entrepreneurs are left without reliable means to overcome uncertainty in political institutions.
~~~~~~~~~~~~~~~~~~ HIGHLIGHTS ~~~~~~~~~~~~~~~~~~
• We investigate the relationship between entrepreneurs and uncertainty.
• We clarify the structure of entrepreneurial action with respect to institutions.
• We analyze entrepreneurs’ inability to deal with regime uncertainty.
• We explicate how entrepreneurs deal with institutional uncertainty.
• We identify an entrepreneurial rationale for political influence-seeking.
~~~~~~~~~~~~~~~~~~~~ LINK ~~~~~~~~~~~~~~~~~~~~
https://www.sciencedirect.com/science/article/abs/pii/S0883902617304287 |
