The influence of formal and informal institutional voids on entrepreneurship
Publication typeFT ranked journal article
JournalEntrepreneurship Theory and Practice
Publication Begin page504
Publication End page526
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AbstractBuilding new space for institutional theory, we propose how the severity of formal and informal institutional voids shapes the productivity of entrepreneurial activities within society. Our theory makes the key assumptions that voids can exist in both formal and informal institutions and that they are capable of hindering entrepreneurial behavior that is favorable to development progress. We extend new theoretical domains by conceptualizing informal institutional voids and proposing how both formal and informal institutional voids and their interaction influence two qualitative outcomes within localities: (1) the unique forms of entrepreneurial activity, and (2) the objectives underlying this entrepreneurial activity.
KeywordInstitutional Voids, Development, Formal Institutions, Informal Institutions, Institutional Theory, Unproductive Entrepreneurship, Informal Economy, Entrepreneurial Objectives, Entrepreneurial Form
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