scholarly journals Frank Knight, uncertainty and knowledge spillover entrepreneurship

2021 ◽  
pp. 1-27
Author(s):  
David B. Audretsch ◽  
Maksim Belitski
Keyword(s):  
Institutional Context ◽  
Knowledge Spillover ◽  
Evidence Based ◽  
Annual Business ◽  
Market Uncertainty ◽  
Inherent Difficulty ◽  
Community Innovation Survey ◽  
New Firm ◽  
Innovation Knowledge ◽  
Knowledge Filter

Abstract In his seminal 1921 book, Risk, Uncertainty, and Profit, Frank Knight distinguished uncertainty and risk. This paper applies Knight's concept of uncertainty to knowledge generated in incumbent organizations to explain the inherent difficulty in assessing potential innovations along with the key role played by knowledge spillover entrepreneurship as a conduit for transforming new knowledge created by an incumbent organization but ultimately commercialized through the creation of a new firm and innovation. Knowledge is inherently uncertain and constitutes what is characterized as the knowledge filter impeding innovative activity in the context of incumbent firms and organizations. The organizational and institutional context and market uncertainty can either facilitate or impede the spillover of knowledge from the firm where it was created to the entrepreneurial startup where it is transformed into innovation. The empirical evidence based on a large, unbalanced panel of 9,126 UK firms constructed from six consecutive waves of a community innovation survey and annual business registry survey during 2002–2014. Implications for managers, scholars, and policymakers are provided.

scholarly journals Start-ups, Innovation and Knowledge Spillovers

2021 ◽  
Author(s):  
David Bruce Audretsch ◽  
Maksim Belitski ◽  
Rosa Caiazza
Keyword(s):  
Knowledge Spillovers ◽  
Knowledge Spillover ◽  
Policy Implications ◽  
Annual Business ◽  
Community Innovation Survey ◽  
Spillover Theory ◽  
Knowledge Spillover Theory ◽  
Start Ups

AbstractThe knowledge spillover theory of entrepreneurship (KSTE) seeks to explain the mechanisms of how uncommercialized knowledge can be turned into new to market products. This paper uses a large unbalanced panel of 16,542 UK firms constructed from six consecutive waves of a community innovation survey and annual business registry survey during 2002–2014 to test the differences in the returns to knowledge spillover for innovation between start-ups and incumbent firms. The theoretical, managerial, and policy implications of the study are discussed.

scholarly journals Local context and firms creation

2020 ◽  
Vol 9 (5) ◽  
pp. 26-37
Author(s):  
Mariasole Bannò ◽  
Giorgia D'Allura
Keyword(s):  
Institutional Context ◽  
Local Context ◽  
Firm Formation ◽  
New Firm Formation ◽  
Biotech Industry ◽  
New Firm ◽  
Industry Creation ◽  
High Level ◽  
New Industry

This paper explores Italy’s biotech industry. This is the case of a new industry formation in a hostile institutional context. Our goal is two-fold. First, it is to extend our understanding of the role of institutions on firm formation and industry creation. Second, it is to offer prescriptive evidence for those regions that are trying to encourage entrepreneurship in innovative industries or increment existing systems of innovations. We adopt the interpretative lenses of the institutional theory. Our work aims to discuss the role that institutions (by the meaning of regulations, policies, and fiscal measures) provide to the development and change of industries around the world. We offer a comparison between Italy and other European countries in order to advise rules and suggestions to improve the competitiveness of the Italian biotech industry and firm formation. We recognize that the Italian institutional context is hostile to new industry creation because the rules and regulations do not support new firm formation. Moreover, Italy represents a context that shows a high level of risk aversion to radical innovation such as biotechnology.   

scholarly journals Global Philanthropy: Does Institutional Context Matter for Charitable Giving?

2021 ◽  
pp. 089976402198944
Author(s):  
Pamala Wiepking ◽  
Femida Handy ◽  
Sohyun Park ◽  
Michaela Neumayr ◽  
René Bekkers ◽  
...  
Keyword(s):  
Charitable Giving ◽  
Institutional Context ◽  
Social Practices ◽  
Professional Standards ◽  
Evidence Based ◽  
Key Factors ◽  
Evidence Based Practices ◽  
Philanthropic Organizations ◽  
Limited Support ◽  
Institutional Contexts

In this article, we examine whether and how the institutional context matters when understanding individuals’ giving to philanthropic organizations. We posit that both the individuals’ propensity to give and the amounts given are higher in countries with a stronger institutional context for philanthropy. We examine key factors of formal and informal institutional contexts for philanthropy at both the organizational and societal levels, including regulatory and legislative frameworks, professional standards, and social practices. Our results show that while aggregate levels of giving are higher in countries with stronger institutionalization, multilevel analyses of 118,788 individuals in 19 countries show limited support for the hypothesized relationships between institutional context and philanthropy. The findings suggest the need for better comparative data to understand the complex and dynamic influences of institutional contexts on charitable giving. This, in turn, would support the development of evidence-based practices and policies in the field of global philanthropy.

scholarly journals Social Entrepreneurship in Sub-Saharan Africa

2017 ◽  
pp. 219-235
Author(s):  
Tidings P. Ndhlovu ◽  
Catherine Ndinda
Keyword(s):  
Social Entrepreneurship ◽  
Social Transformation ◽  
Social Impact ◽  
Institutional Context ◽  
Sub Saharan Africa ◽  
Evidence Based ◽  
Liberal Conception ◽  
The World ◽  
Sub Saharan

There has been a growing interest in “social entrepreneurship”, but very few analyses have attempted to go beyond definitional disagreements in capturing the role of the diaspora within a theoretical and evidence-based framework. It is in this context that this chapter systematises competing perspectives on social entrepreneurship, that is, the neo-liberal conception, the institutional/social organisation framework and the agenda of social transformation. On the basis, we proceed to analyse how far so-called “social impact investments” in Sub-Saharan Africa by the diaspora has contributed to poverty alleviation and a fundamental social transformation. Our study will not only clarify competing viewpoints, but also place the diaspora at the centre of this process. While great strides have been made in the institutional context by the African diaspora such as Mutombo and Akon in making the world a better place, there are limitations to what they can do. Indeed, our alternative social transformation conception of social entrepreneurship teases out these limitations, politically and socially.

scholarly journals Introduction: Urban Inequality and Segregation in Europe and China

2021 ◽  
pp. 1-10
Author(s):  
Gwilym Pryce ◽  
Yu Chen ◽  
Ya Ping Wang
Keyword(s):  
Institutional Context ◽  
Policy Innovation ◽  
Modern China ◽  
Evidence Based ◽  
Household Registration ◽  
Registration System ◽  
Urban Inequality ◽  
Evidence Based Policy ◽  
Household Registration System

AbstractIn this chapter, we set out the rationale and key themes for the book. We briefly summarise the broad historical and institutional context, particularly the period of reformin China since 1978, and the background to the hukouhousehold registration system, which has become a key source of segregation and inequality in modern China. We then provide an overview of the book including a synopsis of each chapter and the various links between them. We conclude with a call for further research and evidence-based policy innovation.

Social Entrepreneurship in Sub-Saharan Africa

2017 ◽  
pp. 1118-1134
Author(s):  
Tidings P. Ndhlovu ◽  
Catherine Ndinda
Keyword(s):  
Social Entrepreneurship ◽  
Social Transformation ◽  
Social Impact ◽  
Institutional Context ◽  
Sub Saharan Africa ◽  
Evidence Based ◽  
Liberal Conception ◽  
The World ◽  
Sub Saharan

There has been a growing interest in “social entrepreneurship”, but very few analyses have attempted to go beyond definitional disagreements in capturing the role of the diaspora within a theoretical and evidence-based framework. It is in this context that this chapter systematises competing perspectives on social entrepreneurship, that is, the neo-liberal conception, the institutional/social organisation framework and the agenda of social transformation. On the basis, we proceed to analyse how far so-called “social impact investments” in Sub-Saharan Africa by the diaspora has contributed to poverty alleviation and a fundamental social transformation. Our study will not only clarify competing viewpoints, but also place the diaspora at the centre of this process. While great strides have been made in the institutional context by the African diaspora such as Mutombo and Akon in making the world a better place, there are limitations to what they can do. Indeed, our alternative social transformation conception of social entrepreneurship teases out these limitations, politically and socially.

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