This paper sketches the contours of a theory of entrepreneurship focusing on the nature of entrepreneurship as intermediation under information asymmetries. While entrepreneurship, strategy, and finance researchers have studied the relationship between entrepreneurs and intermediaries, they tend to treat intermediaries, such as venture capitalists, as a separate organizational form that is para...

This article reports the results of a study aimed at identifying the information needs and uses of the informal sector in Uganda. The demographic and business characteristics of these entrepreneurs are highlighted and empirically tested with regard to their information needs. This study has largely employed qualitative research methodologies, such as the critical incidence technique for intervi...

Research has established a number of personality features and behaviours associated with business creation and success. The similarities between these traits and narcissism, a concept with roots in clinical psychology and psychiatry, led the authors to conduct this study, which proposes to measure whether entrepreneurs score higher on a narcissism scale than other vocational groups. The second ...

This essay examines how the entrepreneurial role has changed over time in the context of an evolving American economy since the Civil War. Because entrepreneurs do what the market has failed to do by itself, entrepreneurs and the market are complementary to each other. It is, therefore, not surprising that as the market evolved over time, the role played by the entrepreneur also changed in a pr...

We measure differences in attitudes towards risk and uncertainty between entrepreneurs, managers and employees in a large scale experiment. Theory predicts that entrepreneurs are a distinct breed in terms of their more positive attitude towards risk and uncertainty. Many empirical studies have tested this prediction, employing various measures of risk (i.e. experimental and survey based) and un...

Several economic models have described the theoretical causes and consequences of ‘credit rationing’ and ‘under-investment. This literature shows the long-run effects of initial wealth distribution and entrepreneurial ability on the process of occupational choice and performance, and its consequences on inequality. Surprisingly, there is very little micro-level evidence on the existence and eff...

This paper examines the experience of eustress, using Selye’s (1964, 1987) concept of “good stress”.Usually stress is considered and researched as a negative experience, but we suggest that learning to respond to negative stress and demands with positive emotions and behaviours is likely to increase positive drive, creativity and courage (Le Fevre, Matheny &Kolt, 2003; Selye 1964; 1987). Howeve...

How valuable is education for entrepreneurs’ performance as compared to employees’? What might explain any differences? And does education affect peoples’ occupational choices accordingly? We answer these questions based on a large panel of US labor force participants. We show that education affects peoples’ decisions to become an entrepreneur negatively. We show furthermore that entrepreneurs ...

Non-technical summary Founders often have big problems with firm financing issues. Financing problems may arise for many reasons. Information asymmetry and uncertainty are important, but so are such things as ignorance. Experienced entrepreneurs should have more knowledge about financing issues and should be more likely to know who to turn to for help and advice. Thus, they have advantages over...

The field of entrepreneurship is characterized by competition, financial gain & independence and the socio-economic setting provides a base for individuals to venture into entrepreneurship. Women constitute the family, which leads to society and nation. Social and economic development of women is necessary for overall economic development of any society or a country. Entrepreneurship is the sta...