This paper develops a theory of entrepreneurial learning from performance errors. The paper explains how entrepreneurs generate outcomes, and based on these, detect and correct errors in their own knowledge about the activities involved in creating and operating a new venture. The model developed in this paper reflects the major cognitive functions leading to outcome generation, error detection...

Is financial innovation necessary for sustaining economic growth? To address this question, we build a Schumpeterian model in which entrepreneurs earn profits by inventing better goods and profit-maximizing financiers arise to screen entrepreneurs. The model has two novel features. First, financiers engage in the costly but potentially profitable process of innovation: they can invent better me...

The paper describes the results of an empirical study of some business environment factors impact on risk taking decision-making of entrepreneurs on the basis of individual entrepreneurial judgments. Multiple regression analysis is used to interpret data collected from 382 micro-entrepreneurs. It aims to answer the question of whether differences across economic environments may be reflected in...

This study aims to investigate the formal and informal attributes of founding entrepreneurs contributing to venture growth. The study found significant relationship between venture growth and entrepreneurs with high personal initiative, focused on specific competency areas within operations, finance, marketing and human resources. In operations, founding entrepreneurs are found to be concerned ...

Growth has been described as the essence of entrepreneurship. Organizational ecologists theorize an inevitable progression from growth through maturity, revival, and eventually decline. During the organizational life cycle entrepreneurs choose between growth, stability, or retrenchment strategies to overcome deteriorating trends in performance. Using survey data, this study tests a contingency ...

Objectives The study considers how online home-based businesses offer opportunities for ethnic entrepreneurs to ‘break out’ of the traditional highly competitive and low margin sectors they are often associated with. Prior Work Previous studies have found a positive association between ethnic minorities high levels of entrepreneurship (Levie, 2007) and between home computer use and entrepreneur...

This paper outlines the development of a high-tech industrial cluster through the efforts of entrepreneurs who adapted to both constructive crises and new opportunities, creating the factors and conditions that facilitated their business interests. We examine the initial factors influencing individual decisions to become entrepreneurs and how external factors influence the formation and locatio...

Many scholars see entrepreneurs as action-oriented individuals who use rules of thumb and other mental heuristics to make decisions, but who do little systematic planning and analysis. We argue that what distinguishes successful from unsuccessful entrepreneurs is precisely that the former vary their decisionmaking styles, sometimes relying on heuristics and sometimes relying on systematic analy...

Mobile phone is one of a few technologies in the world that have created immediate and widespread of an impact mobile phones. The impact of the mobile technology for development has been seen from many different perspectives, but few empirical studies have investigates the technology in relation to human development perspectives and in particular Capability Approach. The present study fills thi...

Does entrepreneurial optimism affect the credit availability to small firms and their cost of financing? Using a large sample of U.S. small businesses and a new measure of optimism, we find that higher levels of optimism result in significantly higher leverage. In addition, we find that firms with optimistic entrepreneurs tend to use more short-term debt. We do not find evidence that banks curt...