Is Entrepreneurship Only About Entering A New Business

To most people entrepreneurship is solely about innovation and entering a new venture. For example, Hisrich and Peters (2002) define entrepreneurship as “the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.†According to Kuratko and Welsch (1994) “Many people now regard entrepreneurship as „pioneership? on the business frontier.†Bygrave (1994) begins with Schumpeter?s definition of an entrepreneur and continues to argue that only a few businesses would have the potential to fit Schumpeterian definition on entrepreneurship, destroying the existing economic order by introducing new product and services. Instead, he argues that “the vast majority of new businesses enter existing markets.†To him, an entrepreneur is “someone who perceives an opportunity and creates an organization to pursue it†and the entrepreneurship involves “all the functions, activities, and actions associated with perceiving opportunities and creating organizations to pursue them.†In all these discussions, exiting from a market is not considered as part of entrepreneurial activities

Sovereign Wealth Funds: An Exploratory Study of Their Behavior

Sovereign wealth funds have recently moved to the front and center of discussion, both within the investment world and the political arena. In this paper we evaluate the differences and common features of these funds. Utilizing an ownership database, we probe the ownership, geographic, and industry concentration of the funds deployed by these entities. We also compare and contrast the main features of two of the largest sovereign wealth funds

Random Cost Functions and Production Decisions

Cost Functions; Cost; Production

Emerging Markets and Financing with Preferred Stocks: The Case of Pacific Rim Countries

Points out that preference shares are much more heavily used in emerging economies than in advanced ones to finance new investment projects and develops a mathematical model to show the conditions under which companies are willing to issue them at a price which will attract investors. Outlines the tax systems in Taiwan, South Korea and New Zealand and uses the model to explain why companies in the former two countries issue preference share but New Zealand firms to not