Entrepreneurship, long neglected by economists and management scholars, has made a dramatic comeback in the last two decades, not only among academic economists and management scholars, but also among policymakers, educators and practitioners. Likewise, the economic theory of the firm, building on Ronald Coase's (1937) seminal analysis, has become an increasingly important field in economics and management. Despite this resurgence, there is still little connection between the entrepreneurship literature and the literature on the firm, both in academia and in management practice. This book fills this gap by proposing and developing an entrepreneurial theory of the firm that focuses on the connections between entrepreneurship and management. Drawing on insights from Austrian economics, it describes entrepreneurship as judgmental decision made under uncertainty, showing how judgment is the driving force of the market economy and the key to understanding firm performance and organization.
Author: Nicolai J. Foss, Peter G. Klein Publisher: Cambridge University Press Published: 03/01/2012 Pages: 312 Binding Type: Paperback Weight: 1.05lbs Size: 8.90h x 5.90w x 0.60d ISBN: 9780521697262
About the Author Foss, Nicolai J.: - Nicolai J. Foss is Professor of Strategy and Organization at the Copenhagen Business School and Professor of Knowledge-based Value Creation at the Norwegian School of Economics and Business Administration. He also holds a number of part-time and visiting professorships at other European universities.Klein, Peter G.: - Peter G. Klein is Associate Professor of Applied Social Sciences and Director of the McQuinn Center for Entrepreneurial Leadership at the University of Missouri. He also holds positions at the University of Missouri's Truman School of Public Affairs and the Norwegian School of Economics and Business Administration.