Executive Takeaways
■ Entrepreneurial opportunities exist on a continuum from imitative to innovative. ■ Risk and uncertainty are distinct, with different implications for a firm’s decisionmaking. ■ Stability-enhancing laws lower transaction costs, but all firms have the same options. ■ Flexibility-enhancing laws increase transaction costs but extend the range of options. ■ Our novel country-level framework clarifies how risk and uncertainty are viewed internally, especially by multinational firms.
Susan L. Young, Assistant Professor of Management & Entrepreneurship
Made with FlippingBook - Online catalogs