The distribution of Schumpeterian and Kirznerian opportunities

The distribution of Schumpeterian and Kirznerian opportunities Despite their presence in modern entrepreneurship theories, empirical investigations of opportunity types are scarce. We develop a 5-dimensional bipolar scale to measure the extent in which opportunities are Schumpeterian or Kirznerian. Drawing on this measure, we examine the shape of the opportunity distribution in relation to the environment and the characteristics of individuals who exploit them. Across a sample of 181 new products introduced by high-tech entrepreneurs, we find that pure Schumpeterian and Kirznerian types are rare, but rather opportunities display varying degrees of membership to one or the other type. The distribution is more skewed toward Schumpeterian opportunities for larger ventures, with a strategic focus on future needs, and operating in growing markets. In contrast, Kirznerian opportunities are more frequently pursued by small ventures, and by entrepreneurs that are young, with a strategic focus on present needs, and who are less innovative in their behavior. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

The distribution of Schumpeterian and Kirznerian opportunities

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Publisher
Springer US
Copyright
Copyright © 2014 by Springer Science+Business Media New York
Subject
Economics / Management Science; Management/Business for Professionals; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1007/s11187-014-9585-1
Publisher site
See Article on Publisher Site

Abstract

Despite their presence in modern entrepreneurship theories, empirical investigations of opportunity types are scarce. We develop a 5-dimensional bipolar scale to measure the extent in which opportunities are Schumpeterian or Kirznerian. Drawing on this measure, we examine the shape of the opportunity distribution in relation to the environment and the characteristics of individuals who exploit them. Across a sample of 181 new products introduced by high-tech entrepreneurs, we find that pure Schumpeterian and Kirznerian types are rare, but rather opportunities display varying degrees of membership to one or the other type. The distribution is more skewed toward Schumpeterian opportunities for larger ventures, with a strategic focus on future needs, and operating in growing markets. In contrast, Kirznerian opportunities are more frequently pursued by small ventures, and by entrepreneurs that are young, with a strategic focus on present needs, and who are less innovative in their behavior.

Journal

Small Business EconomicsSpringer Journals

Published: May 20, 2014

References

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