The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm*
Richard Langlois ()
Journal of Management Studies, 2007, vol. 44, issue 7, 1107-1124
abstract The entrepreneurial theory of the firm argues that entrepreneurship, properly understood, is a crucial but neglected element in explaining the nature and boundaries of the firm. By contrast, the theory of the entrepreneurial firm presumably seeks not to understand the nature and boundaries of ‘the firm’ in general but rather to understand a particular type of firm: one that is entrepreneurial. This paper is an attempt to reconcile the two. After briefly delving for the concept of entrepreneurship in the work of Schumpeter, Kirzner, and (especially) Knight, the paper makes the case for the entrepreneurial theory of the firm. In such a theory, the firm exists as the solution to a coordination problem in a world of change and uncertainty, including Knightian or structural uncertainty.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (39) Track citations by RSS feed
Downloads: (external link)
Working Paper: The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:jomstd:v:44:y:2007:i:7:p:1107-1124
Ordering information: This journal article can be ordered from
http://www.blackwell ... s.asp?ref=00022-2380
Access Statistics for this article
Journal of Management Studies is currently edited by Timothy Clark, Steven W. Floyd and Mike Wright
More articles in Journal of Management Studies from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().