Measuring the market newness of new ventures

Jonas Dahlqvist and Johan Wiklund

Journal of Business Venturing, 2012, vol. 27, issue 2, 185-196

Abstract: The present lack of instruments for measuring entrepreneurial opportunity is hampering progress in entrepreneurship research and fundamental hypotheses about opportunity variance are not being tested. This paper sets out to validate a measure of market newness in new ventures based in Austrian Economics, assuming a view of opportunity as objective and discoverable. Empirically, a sample of 250 new internal ventures in gestation was examined regarding to whom these ventures presented something new in terms of geographical extension or new customer groups. The measure improves on existing instruments by providing more intrinsic range while being firmly anchored in an Austrian Economics framework.

Keywords: entrepreneurial opportunity; individual-opportunity nexus; Austrian economics; Kirzner; measurement theory (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbvent:v:27:y:2012:i:2:p:185-196

DOI: 10.1016/j.jbusvent.2010.12.001

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