A theoretical analysis of the role of social networks in entrepreneurship |
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Authors: | Dennis P Leyden Albert N Link Donald S Siegel |
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Institution: | 1. Department of Economics, University of North Carolina at Greensboro, Bryan School of Business and Economics, Greensboro, NC 27402, United States;2. School of Business, University at Albany, SUNY, 1400 Washington Avenue, Albany, NY 12222, United States |
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Abstract: | Entrepreneurship involves innovation and uncertainty. We outline a theory of entrepreneurship, which highlights the importance of social networks in promoting innovation and reducing uncertainty. Our findings suggest that this “social” aspect of entrepreneurship increases the probability of entrepreneurial success. The results also lend credence to theories of entrepreneurship that suggest that entrepreneurial opportunities are formed endogenously by the entrepreneurs who create them. We also consider the public policy implications of our findings. |
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Keywords: | 031 O32 O33 038 Z13 |
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