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on Entrepreneurship |
| By: | Russell Golman; Steven Klepper |
| Abstract: | Geographic clustering of industries is typically attributed to localized, pecuniary or non-pecuniary externalities. Recent studies across innovative industries suggestthat explosive cluster growth is associated with the entry and success of spinoff firms. We develop a model to explain the patterns regarding cluster growth and spinoff formation and performance, without relying on agglomeration externalities. Clustering naturally follows from spinoffs locating near their parents. In our model, firms grow and spinoffs form through the discovery of new submarkets based on innovation. Rapid and successful innovation creates more opportunities for spinoff entry and drives a region’s growth. |
| Keywords: | Agglomeration, Clusters, Entry, Innovation, Spinoffs |
| JEL: | L25 O31 R12 R30 |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1309&r=ent |
| By: | Radu Vranceanu (Economics Department - ESSEC Business School) |
| Abstract: | Economic profit is produced by entrepreneurs, those special individuals able to detect and seize as yet unexploited market opportunities. In general capitalist firms manage to deliver positive profits even in the most competitive environments. They can do so thanks to internal entrepreneurs, a subset of their employees able to drive change and develop innovation in the workplace. This paper argues that the goal of profit maximization is fully consistent with the corporation doing good for society. However, there is little justification for corporations to transfer the whole economic profit to shareholders. Economic agents entitled to receive the economic profit are precisely those who create this profit, namely the internal entrepreneurs. |
| Keywords: | Corporate Goal; Entrepreneurship Theory of the Firm; Internal Entrepreneurs; Profit; Social Role of Business; Virtue Ethics |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00823521&r=ent |
| By: | Leung, Vincent K.K.; Lau, Chi Keung Marco; Zhang, Zhe |
| Abstract: | This study empirically delineates the nature of explorative and exploitative alliances, examines how they affect product and process innovations, and investigates how such effects vary in different contexts. Using a sample of 220 Chinese firms in the glass industry, we find that explorative alliances have a stronger effect on both product and process innovations than exploitative alliances. Product and process innovations are positively related to both market and efficiency performance and environmental turbulence enhances the effect of product and process innovations. Our findings provide implications on how to choose between explorative and exploitative alliances relative to the alliance objectives and firm resources and environmental contexts. |
| Keywords: | China, exploration versus exploitation, structural equation modeling, process innovation, product innovation, small-and-medium-sized enterprises |
| JEL: | D21 D7 L65 N60 |
| Date: | 2013–01–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:47065&r=ent |