Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/183447 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
IFN Working Paper No. 1218
Verlag: 
Research Institute of Industrial Economics (IFN), Stockholm
Zusammenfassung: 
We provide empirical evidence that uncertainty (rather than risk) and optimism are distinctive characteristics of high-impact entrepreneurial firms (recently listed firms) relative to old, incumbent firms. Based on this evidence, we construct an entrepreneurial entry predation model with uncertainty. We show that entrepreneurial optimism can mitigate problems associated with strong incumbents' attempts to protect markets using predatory threats. Entrepreneurial optimism can also create a strategic advantage for entrepreneurs since incumbents may react by being less aggressive in product market interactions, which will benefit not only the profitability of the entrepreneur's venture but also consumers via lower prices.
Schlagwörter: 
Uncertainty
Optimism
Entrepreneurial firms
Predation
Positive externalities
Automatic textual analysis
JEL: 
L20
L26
M20
O30
Dokumentart: 
Working Paper

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