Entrepreneurship, Growth and Restructuring

David B. Audretsch and Max Keilbach

in The Oxford Handbook of Entrepreneurship

Published in print May 2008 | ISBN: 9780199546992
Published online September 2009 | e-ISBN: 9780191577383 | DOI:

Series: Oxford Handbooks in Business and Management C

Entrepreneurship, Growth and Restructuring

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The purpose of this article is to suggest that a more recent literature has emerged which identifies how and why entrepreneurship in the form of new and small firms is a driving engine of industrial restructuring and economic growth. The starting point of this literature is the consideration of entrepreneurial opportunities and how they relate to opportunities generated by incumbent corporations. Entrepreneurship is distinguished from incumbent organizations with respect to both opportunity creation and exploitation. According to the ‘Knowledge Spillover Theory of Entrepreneurship’, entrepreneurial opportunities are not exogenous to the economy, but rather systematically created by incumbent organizations investing in new knowledge and ideas but unable to fully commercialize that new knowledge.

Keywords: entrepreneurship; economic growth; small firms; industrial restructuring; new knowledge; entrepreneurial opportunities

Article.  12955 words. 

Subjects: Entrepreneurship ; International Business

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