European Research in Entrepreneurship series
Edited by Alain Fayolle and Kiril Todorov
Chapter 1: European Entrepreneurship in the Globalizing Economy: An Introduction
Alain Fayolle and Kiril Todorov What role can entrepreneurship play in a European economy that is more and more open to the rest of the world? In this European construction, what is the place of the countries and economies that have only recently converted to a free market economy? It is these questions, among others, that were addressed by the participants at the ‘European Entrepreneurship in the Globalizing Economy: Challenges and Opportunities’ conference, which took place from 9 to 12 September 2008 in Varna, Bulgaria. Numerous researchers and practitioners from Eastern Europe were brought together during this conference, and we include here a selection of the best papers that were presented on this occasion. Before giving an overview of the various contributions that make up this book, we will briefly outline a few trends in the evolution of entrepreneurship as a field of research. Entrepreneurship is a phenomenon that depends heavily on the contexts in which it happens and develops. Entrepreneurship, generally defined as ‘how, by whom and with what effects opportunities to create new goods and services are discovered, evaluated and exploited’,1 is very much conditioned by the level of economic development and the cultural, political and social contexts in which it appears.2 It is common knowledge, for example, that entrepreneurship in developing countries, or countries in transition, is quantitatively and qualitatively different from what we observe in developed countries. Moreover, the nature of entrepreneurship changes by moving from a narrow and simplistic vision (new-venture creation) to a...