The Knowledge Spillover Theory of Entrepreneurship
Zoltan J. Acs (),
Pontus Brodde Braunerhjelm () and
Bo Carlsson ()
Additional contact information David Audrestch: Indiana University, School of Environmental and Public Affairs
Bo Carlsson: Case Western Reserve University, Weatherhead School of Management, Department of Economics
Contemporary theories of entrepreneurship generally focus on the recognition of opportunities and the decision to exploit them. While the prevailing view in the entrepreneurship literature is that opportunities are exogenous, the most prevalent theory of economic growth suggests that opportunities are endogenous. This paper bridges the gap between the entrepreneurship and economic growth literatures by developing a knowledge spillover theory of entrepreneurship. Knowledge created endogenously results in knowledge spillovers that give rise to opportunities to be identified and exploited by entrepreneurs.