, 1
5020 
10987Through the systematic review of foreign mainstream entrepreneurial literature, this study analyzes the development of entrepreneurial theories and themes with the entrepreneurial opportunity as the main line, trying to find out the applicability and limitations of extant theories in entrepreneurial research. Specifically, using theoretical holistic analysis and thematic focused analysis, this study first analyzes the proportion of literature using theories, the multi-disciplinary source of theories and the research themes of multi-disciplinary theories, etc., to clarify the current situation of entrepreneurship theories. Then, on the basis of theoretical holistic analysis, focusing on several key theories applied in different stages of entrepreneurship research, we explore their applicability in explaining opportunity formation. Both theoretical holistic analysis and thematic focused analysis show that the entrepreneurial opportunity gradually moves from the edge of entrepreneurial research to the center stage, and the opportunity is regarded as the core of the entrepreneurial field. The extant theories are more from other disciplines while the unique theories are less. At the same time, existing entrepreneurial theories still have limitations in explaining opportunity formation. Based on the above, we propose entrepreneurship as a unique research field, which the unique theoretical system has not been formed yet. In the future, we should build unique entrepreneurial theories around the entrepreneurial opportunity based on the perspective of the process study.
/ Journals / Foreign Economics & Management
Foreign Economics & Management
LiZengquan, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
YinHuifang HeXiaogang LiuJianguo, Vice Editor-in-Chief
Entrepreneurial Theories: A Review and Prospects
Foreign Economics & Management Vol. 41, Issue 12, pp. 94 - 111 (2019) DOI:10.16538/j.cnki.fem.2019.12.005
Summary
References
Summary
[1] Cai Li, Shan Biaoan, Zhu Xiumei, et al. Wang Q. Review of entrepreneurship research and framework construction from the perspective of resources—Based on coding and refining from ground theory[J]. Management World, 2011, (12):160-169.
[2] Cai L, Ge Baoshan, Cai Yiru. Entrepreneurial Opportunity and Resource Development Behavior of Entrepreneurial Firms: A Study from China’s Transitional Economy[J]. Quarterly Journal of Management, 2019, (2):44-62+134.
[3] Cai Li, Lu Xifeng, Shan Biaoan, et al. Does Discovery Opportunity and Creation Opportunity Transform into Each Other? Based on Multi-Actors Perspective[J]. Management World, 2018, (12):81-94+194.
[4] Chen Guoquan, Xiang Shuting. Organizational learning theory based on time dimension: A model of organizational learning from current situation[J]. Technology Economics, 2016a,(10):15-25.
[5] Chen Guoquan, Xiang Shuting. Organizational learning theory based on time dimension: A model of organizational learning from possible scenarios in the future[J]. Technology Economics, 2016b,(11):1-11.
[6] Dai Weiqi, WeiJiang, Lin Qiao. Research on the influence factors of corporate entrepreneurship and the prospect of hot spots in the future[J]. Foreign Economics & Management, 2009, (6): 10-17.
[7] Du Yunzhou, Zhang Yuli, Ren Bing. Showing or hiding competitive advantage: The U-shaped relationship between new firm's competitor orientation and performance and the mediating role of organizational legitimacy[J]. Management World, 2012, (7):96-107.
[8] He Xuan, Ma Jun. Passive or active social actors? An empirical research on the participation of private enterprises in social governance in China[J]. Management World, 2018, (2):34-48.
[9] Huang Sheng, Zhou Jinbo. The impact of institutional context on international entrepreneurship performance[J]. Science Research Management, 2013, (11):87-94.
[10] Huang Sheng, Zhou Jinbo. Institutional context, entry modes of international markets and international entrepreneurship performance[J]. Science Research Management, 2014, (2): 54-61.
[11] Lu Yadong. The dilemma and future of Chinese management theory research[J]. Foreign Economics & Management, 2015, (3): 3-15.
[12] Qin Jian. Effectuation theory and empirical research frontier and future prospect based on entrepreneurial research perspective[J]. Foreign Economics & Management, 2010, (7):1-7.
[13] Zhang Yuli, Yang Jun, Dai Yanli. Analysis of the Current Situation of Entrepreneurial Research in China's Situation and Suggestions for Future Research[J]. Foreign Economics & Management, 2012, (1): 1-9, 56.
[14] Zhang Yuli, Yang Jun. On the Academic Contribution of Entrepreneurial Research and Its Application[J]. Foreign Economics & Management, 2009, (1):16-23.
[15] Alvarez S A, Barney J B. Entrepreneurial opportunities and poverty alleviation[J]. Entrepreneurship Theory and Practice, 2014, 38(1): 159-184.
[16] Arend R J, Sarooghi H, Burkemper A. Effectuation as ineffectual? Applying the 3E theory-assessment framework to a proposed new theory of entrepreneurship[J]. Academy of Management Review, 2015, 40(4): 630-651.
[17] Autio E, Acs Z. Intellectual property protection and the formation of entrepreneurial growth aspirations[J]. Strategic Entrepreneurship Journal, 2010, 4(3): 234-251.
[18] Autio E, Nambisan S, Thomas L D W, et al. Digital affordances, spatial affordances, and the genesis of entrepreneurial ecosystems[J]. Strategic Entrepreneurship Journal, 2018, 12(1): 72-95.
[19] Barney J B, Ketchen Jr D J, Wright M. The future of resource-based theory: Revitalization or decline?[J]. Journal of Management, 2011, 37(5): 1299-1315.
[20] Begley T M, Boyd D P. A comparison of entrepreneurs and managers of small business firms[J]. Journal of Management, 1987a, 13(1): 99-108.
[21] Begley T M, Boyd D P. Psychological characteristics associated with performence in entrepreneurial firms and smaller businesses[J]. Journal of Business Venturing, 1987b, 2(1): 79-93.
[22] Bird M, Wennberg K. Regional influences on the prevalence of family versus non-family start-ups[J]. Journal of Business Venturing, 2014, 29(3): 421-436.
[23] Bruton G D, Ahlstrom D, Li H L. Institutional theory and entrepreneurship: Where are we now and where do we need to move in the future?[J]. Entrepreneurship Theory and Practice, 2010, 34(3): 421-440.
[24] Busenitz L W, Plummer L A, Klotz A C, et al. Entrepreneurship research (1985-2009) and the emergence of opportunities[J]. Entrepreneurship Theory and Practice, 2014, 38(5): 981-1000.
[25] Carlsson B, Braunerhjelm P, McKelvey M, et al. The evolving domain of entrepreneurship research[J]. Small Business Economics, 2013, 41(4): 913-930.
[26] Corbett J, Montgomery A W. Environmental entrepreneurship and interorganizational arrangements: A model of social‐benefit market creation[J]. Strategic Entrepreneurship Journal, 2017, 11(4): 422-440.
[27] Davidsson P. The field of entrepreneurship research: Some significant developments[Ａ]. Bögenhold D, Bonnet J, Dejardin M, et al. Contemporary entrepreneurship[M]. Cham: Springer, 2016: 17-28.
[28] Desa G. Resource mobilization in international social entrepreneurship: Bricolage as a mechanism of institutional transformation[J]. Entrepreneurship Theory and Practice, 2012, 36(4): 727-751.
[29] Eckhardt J T, Shane S A. Industry changes in technology and complementary assets and the creation of high-growth firms[J]. Journal of Business Venturing, 2011, 26(4): 412-430.
[30] Gedajlovic E, Cao Q, Zhang H P. Corporate shareholdings and organizational ambidexterity in high-tech SMEs: Evidence from a transitional economy[J]. Journal of Business Venturing, 2012, 27(6): 652-665.
[31] Gras D, Mendoza-Abarca K I. Risky business? The survival implications of exploiting commercial opportunities by nonprofits[J]. Journal of Business Venturing, 2014, 29(3): 392-404.
[32] Hack A, von Bieberstein F, Kraiczy N D. Reference point formation and new venture creation[J]. Small Business Economics, 2016, 46(3): 447-465.
[33] Miller J I. The mortality problem of learning and mimetic practice in emerging industries: Dying to be legitimate[J]. Strategic Entrepreneurship Journal, 2012, 6(1): 59-88.
[34] Moroz P W, Hindle K. Entrepreneurship as a process: Toward harmonizing multiple perspectives[J]. Entrepreneurship Theory and Practice, 2012, 36(4): 781-818.
[35] Nambisan S. Digital entrepreneurship: Toward a digital technology perspective of entrepreneurship[J]. Entrepreneurship Theory and Practice, 2017, 41(6): 1029-1055.
[36] Overholm H. Collectively created opportunities in emerging ecosystems: The case of solar service ventures[J]. Technovation, 2015, 39-40: 14-25.
[37] Renko M, Shrader R C, Simon M. Perception of entrepreneurial opportunity: A general framework[J]. Management Decision, 2012, 50(7): 1233-1251.
[38] Shelton L M, Minniti M. Enhancing product market access: Minority entrepreneurship, status leveraging, and preferential procurement programs[J]. Small Business Economics, 2018, 50(3): 481-498.
[39] Shu C L, Liu C J, Gao S X, et al. The knowledge spillover theory of entrepreneurship in alliances[J]. Entrepreneurship Theory and Practice, 2014, 38(4): 913-940.
[40] Suddaby R, Bruton G D, Si S X. Entrepreneurship through a qualitative lens: Insights on the construction and/or discovery of entrepreneurial opportunity[J]. Journal of Business Venturing, 2015, 30(1): 1-10.
[41] Sun S L, Im J. Cutting microfinance interest rates: An opportunity co–creation perspective[J]. Entrepreneurship Theory and Practice, 2015, 39(1): 101-128.
[42] Welpe I M, Spörrle M, Grichnik D, et al. Emotions and opportunities: The interplay of opportunity evaluation, fear, joy, and anger as antecedent of entrepreneurial exploitation[J]. Entrepreneurship Theory and Practice, 2012, 36(1): 69-96.
[43] Welter F. Contextualizing entrepreneurship—conceptual challenges and ways forward[J]. Entrepreneurship Theory and Practice, 2011, 35(1): 165-184.
[44] Wood M S, McKelvie A, Haynie J M. Making it personal: Opportunity individuation and the shaping of opportunity beliefs[J]. Journal of Business Venturing, 2014, 29(2): 252-272.
[45] Wright A L, Zammuto R F. Creating opportunities for institutional entrepreneurship: The Colonel and the Cup in English County Cricket[J]. Journal of Business Venturing, 2013, 28(1): 51-68.
[46] York J G, Lenox M J. Exploring the sociocultural determinants of de novo versus de alio entry in emerging industries[J]. Strategic Management Journal, 2014, 35(13): 1930-1951.
[47] Zahra S A, Wright M, Abdelgawad S G. Contextualization and the advancement of entrepreneurship research[J]. International Small Business Journal, 2014, 32(5): 479-500.
[48] Zhao E Y, Lounsbury M. An institutional logics approach to social entrepreneurship: Market logic, religious diversity, and resource acquisition by microfinance organizations[J]. Journal of Business Venturing, 2016, 31(6): 643-662.
Cite this article
Cai Li, Yu Haijing, Yang Yaqian, et al. Entrepreneurial Theories: A Review and Prospects[J]. Foreign Economics & Management, 2019, 41(12): 94-111.
Export Citations as:
For
ISSUE COVER
RELATED ARTICLES
