Emergence of Entrepreneurs Following Exogenous Technological Change  

Oleh:

Arend, Richard J.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 20 no. 1 (1999), page 31-48.
Topik: entrepreneur; entrepreneur; incumbent; technological change; dynamics

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper explains how an exogenous technological change occurs, entrepreneurs displace incumbents who were ex ante capable of exploiting any innovations that resulted from the change. The model initially considers classical economic assumptions in the context of process innovations, and then its robustness to uncertainty, bounded rationality, firm asymmetry, and product innvoations are discussed. The model is preliminarily tested against industry trends using both results from an analysis of the information technology sector and from the literature. The paper does not suffer from the incosistency of explaining how capable incumbents aer displaced by resorting to characterizations of incumbents as incapable due to some inefficiency, the paper models incumbents as efficient yet rationally choosing, in some instances, to be displaced.

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