The Co-Evolution of Institutional Entrepreneurship: A Tale of Two Theories
65 Pages Posted: 25 May 2010
Date Written: May 24, 2010
This article provides a review and analysis of institutional entrepreneurship research with a focus on the emergence of this literature within two largely divergent streams: sociology-based institutional theory and economics-based institutional economics. The authors completed a review of 141 articles from these concurrent, but unlinked research streams to understand how their integration might contribute to the further understanding of institutional entrepreneurship. Each stream is reviewed on their respective approaches to the following topics: the nature of the institutional entrepreneur, the types of institutions addressed, the determinants of institutional entrepreneurship, the mechanisms used in the process, and the empirical focus of each stream. The article recommends greater assimilation of the two streams and discusses specific opportunities for conceptual integration. Finally, the article offers an agenda for incorporating entrepreneurship research into the study of institutional entrepreneurship.
Findings from this review suggest that while institutional economics focuses mostly on the antecedents and outcomes of institutional entrepreneurship, the institutional theory perspective is more concerned with the process and mechanisms that drive such change. We also suggest that entrepreneurship theory can greatly advance our understanding of institutional entrepreneurship by informing the process through which opportunities for institutional change are discovered and created, as well as by conceptualizing underdeveloped institutions as a source for such opportunities. Most importantly, integrating the unique perspectives and domains of institutional theory, institutional economics, and entrepreneurship research in the study of institutional entrepreneurship provides substantial opportunity for expanding our understanding of the concept and its implications.
Keywords: Institutional Entrepreneurship, Institutional Theory, Institutional Economics, Entrepreneurship
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