The Role of Networks in the Entrepreneurial Process

Cranfield School of Management, USA
Journal of Business Venturing (Impact Factor: 3.06). 12/1985; 1(1):107-117. DOI: 10.1016/0883-9026(85)90010-2
Source: RePEc


The relationship between the quality of political institutions and the performance of regulation has recently assumed greater prominence in the policy debate on the effectiveness of infrastructure industry reforms. Taking the view that political accountability is a key factor linking political and regulatory structures and processes, this article empirically investigates its impact on the performance of regulation in telecommunications in time-series--cross-sectional data sets for 29 developing countries and 23 developed countries during 1985--99. In addition to confirming some well-documented results on the positive role of regulatory governance in infrastructure industries, the article provides empirical evidence on the impact of the quality of political institutions and their modes of functioning on regulatory performance. The analysis finds that the impact of political accountability on the performance of regulation is stronger in developing countries. An important policy implication is that future reforms in these countries should give due attention to the development of politically accountable systems. Copyright The Author 2009. Published by Oxford University Press on behalf of the International Bank for Reconstruction and Development / the world bank. All rights reserved. For permissions, please e-mail:, Oxford University Press.

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    • "This is especially relevant for access to resources and the creation and exchange of knowledge (Aldrich and Martinez, 2001; Ardichvili et al, 2002). As entrepreneurial ecosystems commonly span otherwise disparate industrial sectors, social networks play an important role in venture formation and development (Birley, 1985; Jack, 2010). These social networks are influenced by differences in human capital (Mosey and Wright, 2007). "
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    • "In fact, attention to relational phenomena has its origins in anthropological and sociological studies (Granovetter 1985), which have observed that processes of social exchange among individuals enhance interpersonal relationships that are strengthened over time thanks to the reciprocal trust. In the context of businesses, these relationships translate into an exchange of information and knowledge, which cross the organization's boundaries and generate processes of learning, especially among small and medium-sized enterprises (Birley 1985; Bastia 1989; Axelsson and Easton 1992; Nohria and Eccles 1992; Håkansson and Snehota 1995; Håkansson and Ford 2002; Österle et al. 2001; O'Donnell 2004). The theoretical concept of network helps to understand if EoC industrial parks can be conceived as a new economic and organizational model (Bruni and Porta 2006). "
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    • "Furthermore, if graduates have developed awareness of entrepreneurship, they often do not have a support network for their enterprise. This may be a considerable problem for young graduate entrepreneurs with minimal prior work experience, with the consequence that even if they have an entrepreneurial intention, a lack of access to networks will restrict business start-up options (Birley, 1985). Chrisman and McMullan (2004) concluded that it is possible to create awareness by substituting networks for brokers. "
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