An Institutional Perspective
- New Horizons in International Business series
Chapter 6: Conclusion: Developing Entrepreneurship in International Business
6. Conclusion: developing entrepreneurship in international business Changes in the rules and other attendant circumstances can, of course, modify the composition of the class of entrepreneurs and can also alter its size . . . But if what is required is the adjustment of rules of the game to induce a more felicitous allocation of entrepreneurial resources, then the policymaker’s task is less formidable, and it is certainly not hopeless. The prevailing rules that aﬀect the allocation of entrepreneurial activity can be observed, described, and, with luck, modiﬁed and improved. (William Baumol, 1990: 894) ENTREPRENEURSHIP AND THE INTERNATIONALISATION OF ASIAN FIRMS: A SUMMARY In Chapter 1, three analytical questions are raised to set the research agenda of this book. These questions concerned the rationales, mechanisms, and successes of cross-border operations by transnational entrepreneurs and/or intrapreneurs. These questions emanate from an institutional perspective on entrepreneurship in international business. This institutional perspective argues that signiﬁcant variations in the institutional structures of home countries explain variations in the entrepreneurial endowments and resources of prospective transnational entrepreneurs and intrapreneurs. These structures also form and enforce conventions, values, views, norms, practices, and ‘rules of the game’ to shape the logic governing economic decision-making and actions, and market processes. Once embedded in these institutional structures, transnational entrepreneurs and/or intrapreneurs have diﬀerential abilities and access to make use of their entrepreneurial endowments and resources for international business activities. Home country institutional structures and business systems signiﬁcantly shape these endowments and resources. Moreover, whether speciﬁc...
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