Why entrepreneurs need firms, and the theory of the firm needs entrepreneurship theory

Peter G. Klein
2016 RAUSP: Revista de Administração da Universidade de São Paulo  
Firms are established by entrepreneurs, and entrepreneurship is typically embodied within a firm. And yet, the research literatures on entrepreneurship and the theory of the firm developed mostly independently. I suggest some reasons why these literatures have struggled to connect, and offer a potential path forward, one that describes the entrepreneurial act as the acquisition, combination, and recombination of heterogeneous resources under conditions of uncertainty.
doi:10.1016/j.rausp.2016.06.007 fatcat:brkvgk2hira3hha2agor6rt7bq