Entrepreneurship and heterogeneous capital

OPEN ARCHIVE

Union Jack
Dannebrog

Entrepreneurship and heterogeneous capital

Show full item record

Title: Entrepreneurship and heterogeneous capital
Author: Foss, Nicolai J.; Klein, Peter G.
Abstract: Entrepreneurship is ultimately about the arrangement of resources into productive activi-ties. Much of the entrepreneurship literature, however, has focused on the demand side of the market. While resource heterogeneity is a feature of many theories of the firm, such theories are not built on a systematic theory of capital. We show how the approach to capital developed by the Austrian school of economics provides a natural bridge between theory of entrepreneurship and the theory of the firm. We refine Austrian capital theory by defining capital heterogeneity in terms of subjectively perceived attributes, the func-tions, characteristics, and uses of capital assets. Such attributes are not given, but have to be created or discovered by means of entrepreneurial action.
URI: http://hdl.handle.net/10398/7443
Date: 2008-02-01

Creative Commons License This work is licensed under a Creative Commons License.

Files Size Format View
smg wp 2008-03.pdf 340.3Kb PDF View/Open

This item appears in the following Collection(s)

Show full item record