75 research outputs found
Toward a Theory of Public Entrepreneurship
This paper explores innovation, experimentation, and creativity in the public domain and in the public interest. Researchers in various disciplines have studied public entrepreneurship, but there is little work in management and economics on the nature, incentives, constraints and boundaries of entrepreneurship directed to public ends. We identify a framework for analyzing public entrepreneurship and its relationship to private entrepreneurial behavior. We submit that public and private entrepreneurship share essential features but differ critically regarding the definition and measurement of objectives, the nature of the selection environment, and the opportunities for rent-seeking. We describe four levels of analysis for studying public entrepreneurship, provide examples, and suggest new research directions.Entrepreneurship, public administration, political economy, institutions, transaction costs
Place-Based Industrial and Regional Strategy ā Levelling the Playing Field
Over the past decade there has been renewed interest in the role of industrial strategy in enhancing innovation, productivity, and competitiveness within and across firms, sectors and regions with an eye to fostering more balanced regional economic growth. This special issue explores how policymakers could adopt place-based industrial policy measures to foster regional catch up and a more balanced and cohesive regional growth. In doing so, the papers are a mix of contributions that develop theory, provide evidence and highlight āstate of the artā or good practice that can inform a level playing field fostering regional industrial strategy.</p
Resources, Capabilities, and Routines in Public Organization
States, state agencies, multilateral agencies, and other non-market actors are relatively under-studied in the strategic entrepreneurship literature. While important contributions examining public decision makers have been made within the agency-theoretic and transaction-cost traditions, there is little research that builds on resource-based, dynamic capabilities, and behavioral approaches to organizations. Yet public organizations can be usefully characterized as stocks of physical, organizational, and human resources; they interact with other organizations in pursuing a type of competitive advantage; they can possess excess capacity, and may grow and diversify in part according to Penrosean (dynamic) capabilities and behavioral logic. Public organizations may be managed as stewards of resources, capabilities, and routines. This paper shows how resource-based, (dynamic) capabilities, and behavioral approaches shed light on the nature and governance of public organizations and suggests a research agenda for public entrepreneurship that reflects insights gained from applying strategic management theory to public organization.
Toward a Theory of Public Entrepreneurship
This paper explores innovation, experimentation, and creativity in the public domain and in the public interest. Researchers in various disciplines have studied public entrepreneurship, but there is little research specifically on the nature, incentives and constraints of public entrepreneurship to innovate in the public interest. We begin by extending concepts of the entrepreneurial firm to include greater interactions in the public domain, and then turn to the role of entrepreneurial firms in fostering institutional change. This focus points toward opportunities for integrating transaction-costs, political and international business theories to achieve a more refined institutional theory of firm-government interactions that incorporates entrepreneurial agency as a principal mechanism for innovating in the fulfillment of public and private interests.
Recommended from our members
Big Tech Oligopolies, Keith Cowling, and Monopoly Capitalism
This Special Issue of the Cambridge Journal of Economics (CJE) marks and celebrates forty years since the publication of Keith Cowlingās (1982) seminal Monopoly Capitalism, which synthesised, updated, and extended the earlier work of scholars such as Steindl (1952), Baran and Sweezy (1966), Hymer (1970, 1972) and Kalecki (1971). Since the publication of Monopoly Capitalism, the critical transformative event has been the latest (fourth) technological revolution and the emergence of Big Tech companies such as Facebook, Apple, Amazon, Netflix and Google (aka FAANGs), alongside Microsoft and so-called āgigā or āsharing economyā firms (such as Uber, Airbnb). While initially regarded as exemplars of the dynamics of contemporary capitalism, in recent years there has been a public backlash against Big Tech, and its impact and influence within the global economy. Indeed, several commentators have raised concerns that beneath the veneer of Big Tech lies potentially insidious business models and practices that have led to a rise in corporate power and the monopolisation of markets. These criticisms, however, largely ignore the contributions of earlier scholars of monopoly capitalism. This Special Issue addresses this oversight with a series of papers re-examining and extending the work of Cowling and others in the monopoly capitalism tradition, in the specific context of Big Tech. The Introduction opens with a portrait of Keith Cowling, as a person and his scholarly contribution to the field. It then provides a critical assessment of the papers in this Special Issue. In the Epilogue, we summarise and conclude
Foreign direct investment and economic integration
In this paper, we explore the role of foreign direct investment (FDI) on the
competitiveness of emerging economies and economic integration.
We structure the paper as follows. Following this Introduction (Section I), in Section
II, we assess briefly and critically extant theories of FDI and the MNE. In Section III,
we critically assess competitiveness and catching-up theory and policy and the role of
FDI in this context. Section IV sets off from limitations of extant scholarship
identified in the previous section to develop a novel framework for competitiveness
and catching-up and discuss the role of FDI, clusters and government policy in its
context. Section V discusses ways through which emerging economies can effect
economic integration through enhanced competitiveness and accelerated catching-up,
by leveraging strategies informed from recent developments on scholarship in
International Business (IB) strategy. Section VI summarizes and concludes
The impact of multinational and domestic enterprises on regional productivity: evidence from the UK
The paper explores the effects of Multinational and Domestic Enterprises (MNEs and DOMES respectively) on regional productivity both in theory and in the case of UK regions. Our empirical evidence shows that MNEs are more intensive in terms of R&D and intangibles and this has a stronger effect on regional productivity. This result however is moderated by the origin of the MNEs. When we control for this, we find that DOMEs can outperform certain MNEs from specific origins. In particular, we conclude that laggard regions can more easily absorb the managerial and organisational expertise of DOMEs; and that home country-shaped MNE strategies may not be always aligned to the needs of host regions
Edith Penroseās āThe Theory of the Growth of the Firmā Fifty Years Later
This is an earlier draft for the introduction to the book "The theory of the growth of the firm" published by Oxford Press, 4th edition, 2009
- ā¦