Skip to main content
Log in

Understanding institutions and entrepreneurship: The microfoundations lens and emerging economies

  • Published:
Asia Pacific Journal of Management Aims and scope Submit manuscript

Abstract

The emerging economy perspective provides an excellent opportunity to theorize the intertwined fields of entrepreneurship and institution research. How do the institutions in emerging economies change the entrepreneurial dynamics and entrepreneurial behaviors? How do entrepreneurs reshape the institutions more favorably at multiple levels? In this paper, we identify literature gaps in theorizing institutions and entrepreneurship and build a microfoundations lens to tackle theorizing challenges in this filed. We also introduce the seven papers in this Special Issue of Asia Pacific Journal of Management on institutions and entrepreneurship with different levels of analysis and research designs. Finally, we outline a systematic research agenda in this promising and important field.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1

Similar content being viewed by others

References

  • Acemoglu, D., Johnson, S., & Robinson, J. A. 2001. The colonial origins of comparative development: An empirical investigation. American Economic Review, 91(5), 1369-1401.

  • Acemoglu, D. & Robinson, J. 2012. Why nations fail: The origins of power, prosperity, and poverty. New York: Crown Publishers.

    Google Scholar 

  • Ács, Z., Desai, S., & Hessels, J. 2008. Entrepreneurship, economic development and institutions. Small Business Economics, 31(3), 219–234.

    Google Scholar 

  • Ács, Z., & Storey, D. 2004. Introduction: entrepreneurship and economic development. Regional Studies, 38(8): 871–877.

    Google Scholar 

  • Ács, Z. J., & Szerb, L. (2007). Entrepreneurship, economic growth and public policy. Small business economics, 28(2-3), 109-122.

    Google Scholar 

  • Ahlstrom, D. 2010. Innovation and growth: How business contributes to society. Academy of Management Perspectives, 24(3): 11-24.

    Google Scholar 

  • Ahlstrom, D., Arregle, J.-L., Hitt, M. A., Qian, G., Ma, X., & Faems, D. 2020. Managing technological, sociopolitical, and institutional change in the new normal. Journal of Management Studies, 57(3): 411-437.

    Google Scholar 

  • Ahlstrom, D., & Bruton, G. D. 2010. Rapid institutional shifts and the co-evolution of entrepreneurial firms in transition economies. Entrepreneurship Theory and Practice, 34(3): 531-554.

    Google Scholar 

  • Ahlstrom, D., Chang, A. Y., & Cheung, J. S. 2019. Encouraging entrepreneurship and economic growth. Journal of Risk and Financial Management, 12(4), 178-191.

    Google Scholar 

  • Ahlstrom, D., Cumming, D. J., & Vismara, S. 2018. New methods of entrepreneurial firm financing: Fintech, crowdfunding and corporate governance implications. Corporate Governance: An International Review, 26(5): 310-313.

    Google Scholar 

  • Ahlstrom, D., & Ding, Z. 2014. Entrepreneurship in China: an overview. International Small Business Journal, 32(6): 610-618.

    Google Scholar 

  • Alhorr, H. S., Moore, C. B., & Payne, G. T. (2008). The impact of economic integration on cross-border venture capital investments: Evidence from the European Union. Entrepreneurship Theory and Practice, 32, 897–917.

    Google Scholar 

  • Arin, K. P., Huang, V. Z., Minniti, M., Nandialath, A. M., & Reich, O. F. M. 2015. Revisiting the determinants of entrepreneurship: A Bayesian approach. Journal of Management, 41, 607–631.

    Google Scholar 

  • Ardagna, S., & Lusardi, A. (2009). Where does regulation hurt? Evidence from new businesses across countries (NBER Working Paper 14747). Cambridge: National Bureau of Economic Research.

    Google Scholar 

  • Audretsch, D. B., & Acs, Z. J. 1994. Entrepreneurial activity, innovation and macroeconomic fluctuations.In Y. Shionoya & M. Perlman (Eds.). Innovation in technology, industries and institutions: Studies in Schumpeterian Perspectives: 173-183. Ann Arbor, MI: The University of Michigan Press.

  • Audretsch, D. B., & Fritsch, M. 1994. The geography of firm births in Germany. Regional Studies, 28(4), 359-365.

  • Ault, J. K., & Spicer, A. 2020. State fragility as a multi-dimensional construct for international entrepreneurship research and practice. Asia Pacific Journal of Management, in this issue, doi:https://doi.org/10.1007/s10490-018-09641-1.

  • Autio, E., & Acs, Z. 2010. Intellectual property protection and the formation of entrepreneurial growth aspirations. Strategic Entrepreneurship Journal, 4(3), 234-251.

    Google Scholar 

  • Banalieva, E. R., Eddleston, K. A., & Zellweger, T. M. 2015. When do family firms have an advantage in transitioning economies? Toward a dynamic institution-based view. Strategic Management Journal, 36(9): 1358-1377.

    Google Scholar 

  • Barney, J., & Felin, T. 2013. What are microfoundations? Academy of Management Perspectives, 27(2): 138-155.

    Google Scholar 

  • Baumol, W. J. 1990. Entrepreneurship: Productive, unproductive, and destructive. Journal of Political Economy, 98(5, Part 1), 893-921.

  • Baumol, W. J., Litan, R. E., & Schramm, C. J. 2007. Good capitalism, bad capitalism, and the economics of growth and prosperity. New Haven, CT: Yale University Press.

    Google Scholar 

  • Bjørnskov, C., & Foss, N. J. (2008). Economic freedom and entrepreneurial activity: Some cross-country evidence. Public Choice, 134, 307–328.

    Google Scholar 

  • Bjørnskov, C., & Foss, N. 2013. How strategic entrepreneurship and the institutional context drive economic growth. Strategic Entrepreneurship Journal, 7(1), 50–69.

    Google Scholar 

  • Bjørnskov, C., & Foss, N. J. 2016. Institutions, entrepreneurship, and economic growth: What do we know and what do we still need to know? Academy of Management Perspectives, 30(3): 292-315.

    Google Scholar 

  • Bruton, G. D., Ahlstrom, D., & Li, H. L. 2010. Institutional theory and entrepreneurship: Where are we now and where do we need to move in the future? Entrepreneurship Theory and Practice, 34(3), 421-440.

    Google Scholar 

  • Bruton, G. D., Ahlstrom, D., & Obloj, K. 2008. Entrepreneurship in emerging economies: Where are we today and where should the research go in the future. Entrepreneurship Theory and Practice, 32(1), 1-14.

    Google Scholar 

  • Bruton, G. D., Ahlstrom, D., ∓ Chen, J. 2019. China has emerged as an aspirant economy. Asia Pacific Journal of Management, forthcoming, https://doi.org/10.1007/s10490-018-9638-0

  • Buck, T., Filatotchev, I., Nolan, P., & Wright, M. 2000. Different paths to economic reform in Russia and China: causes and consequences. Journal of World Business, 35(4): 379-400.

    Google Scholar 

  • Carden, A. & McCloskey, D. N. 2018. The bourgeois Deal: Leave me alone, and I'll make you rich (March 8, 2018). Available at SSRN: https://ssrn.com/abstract=3155530 or https://doi.org/10.2139/ssrn.3155530 (Accessed September 4, 2020).

  • Carlsson, B., Braunerhjelm, P., McKelvey, M., Olofsson, C., Persson, L., & Ylinenpää, H. 2013. The evolving domain of entrepreneurship research. Small Business Economics, 41(4), 913–930.

    Google Scholar 

  • Chari, M. D., & Banalieva, E. R. 2015. How do pro-market reforms impact firm profitability? The case of India under reform. Journal of World Business, 50(2): 357-367.

    Google Scholar 

  • Christensen, C. M., Ojomo, E., & Dillon, K. 2019. The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty. New York: Harper Business.

    Google Scholar 

  • Contractor, F., Foss, N. J., Kundu, S., & Lahiri, S. 2019. Viewing global strategy through a microfoundations lens. Global Strategy Journal, 9(1): 3-18.

    Google Scholar 

  • Cuervo-Cazurra, A., Gaur, A., & Singh, D. 2019. Pro-market institutions and global strategy: The pendulum of pro-market reforms and reversals. Journal of International Business Studies, 50(4): 598-632.

    Google Scholar 

  • Dai, W., & Liao, M. 2019. Entrepreneurial attention to deregulations and reinvestments by private firms: Evidence from China. Asia Pacific Journal of Management, 36(4): 1221-1250.

    Google Scholar 

  • Deng, W., Liang, Q., Fan, P., & Cui, L. 2020. Social entrepreneurship and well-being: The configurational impact of institutions and social capital. Asia Pacific Journal of Management, in this issue, doi: https://doi.org/10.1007/s10490-019-09660-6.

  • Ding, Z., Sun, S. L., & Au, K. 2014. Angel investors' selection criteria: A comparative institutional perspective. Asia Pacific Journal of Management, 31(3): 705-731.

    Google Scholar 

  • Djankov, S., Ganser, T., McLiesh, C., Ramalho, R., & Shleifer, A. 2010. The effect of corporate taxes on investment and entrepreneurship. American Economic Journal: Macroeconomics, 2, 31–64.

    Google Scholar 

  • Dunbar, R. L. M., & Ahlstrom, D. 1995. Seeking the institutional balance of power: Avoiding the power of a balanced view. Academy of Management Review, 20(1): 171-192.

    Google Scholar 

  • Ferreira, J. J., Fayolle, A., Fernandes, C., & Raposo, M. (2017). Effects of Schumpeterian and Kirznerian entrepreneurship on economic growth: panel data evidence. Entrepreneurship & Regional Development, 29(1-2), 27-50.

    Google Scholar 

  • Felin, T., Foss, N. J., Heimeriks, K. H., & Madsen, T. L. 2012. Microfoundations of routines and capabilities: Individuals, processes, and structure. Journal of Management Studies, 49(8): 1351-1374.

    Google Scholar 

  • Felin, T., Foss, N. J., & Ployhart, R. E. 2015. The microfoundations movement in strategy and organization theory. Academy of Management Annals, 9(1): 575-632.

    Google Scholar 

  • Foss, N. J., & Klein, P. G. 2012. Organizing entrepreneurial judgment: A new approach to the firm. Cambridge: Cambridge University Press.

  • Foss, N. J., & Lindenberg, S. 2013. Microfoundations for strategy: A goal-framing perspective on the drivers of value creation. Academy of Management Perspectives, 27(2): 85-102.

    Google Scholar 

  • Foss, N. J., & Pedersen, T. 2019. Microfoundations in international management research: The case of knowledge sharing in multinational corporations. Journal of International Business Studies.

  • Frey, C. B. 2019. The Technology Trap: Capital, Labor, and Power in the Age of Automation. Princeton, NJ: Princeton University Press.

    Google Scholar 

  • Freytag, A., & Thurik, R. 2007. Entrepreneurship and its determinants in a cross-country setting. Journal of Evolutionary Economics, 17(2), 117-131.

  • Ge, J., Carney, M., & Kellermanns, F. 2019. Who fills institutional voids? Entrepreneurs’ utilization of political and family ties in emerging markets. Entrepreneurship Theory and Practice, 43(6): 1124-1147.

    Google Scholar 

  • Gnyawali, D.R. & Fogel, D.S. 1994. Environments for entrepreneurship development: Key dimensions and research implications. Entrepreneurship Theory and Practice, 18(4): 43-62.

  • Greif, A., & Mokyr, J. 2016. Institutions and economic history: a critique of professor McCloskey. Journal of Institutional Economics, 12(1): 29-41.

    Google Scholar 

  • Gwartney, J. D., Hall, J., & Lawson, R. 2014. Economic freedom of the world: 2014 annual report. Vancouver: The Fraser Institute.

    Google Scholar 

  • Hall, P. A., & Gingerich, D. W. 2009. Varieties of capitalism and institutional complementarities in the political economy: An empirical analysis. British Journal of Political Science, 39(03): 449-482.

    Google Scholar 

  • Hasan, S., & Koning, R. 2019. Prior ties and the limits of peer effects on startup team performance. Strategic Management Journal, 40(9): 1394-1416.

    Google Scholar 

  • Henrekson, M. (2005). Entrepreneurship: A weak link in the welfare state? Industrial and Corporate Change, 14, 437–467.

    Google Scholar 

  • Hitt, M. A., Ahlstrom, D., Dacin, M. T., Levitas, E., & Svobodina, L. 2004. The institutional effects on strategic alliance partner selection in transition economies: China vs. Russia. Organization Science, 15(2): 173-185

  • Hu, H. W., Cui, L., & Aulakh, P. S. 2019. State capitalism and performance persistence of business group-affiliated firms: A comparative study of China and India. Journal of International Business Studies, 50(2): 193-222.

    Google Scholar 

  • Huang, L. C., Ahlstrom, D., Lee, A. Y. P., Chen, S. Y., & Hsieh, M. J. (2016). High performance work systems, employee well-being, and job involvement: an empirical study. Personnel Review, 45(2), 296-314.

    Google Scholar 

  • Hull, C. E., Tang, Z., Tang, J., & Yang, J. 2020. Information diversity and innovation for born-globals. Asia Pacific Journal of Management, in this issue, doi: https://doi.org/10.1007/s10490-019-09651-7.

  • Ikeda, S. (2008). The meaning of “social capital” as it relates to the market process. Review of Austrian Economics, 21, 167–182.

    Google Scholar 

  • Jackson, G., & Deeg, R. 2019. Comparing capitalisms and taking institutional context seriously. Journal of International Business Studies, 50(1): 4-19.

    Google Scholar 

  • Jain, S., & Koch, J. (2020). Crafting markets and fostering entrepreneurship within underserved communities: social ventures and clean energy provision in Asia. Entrepreneurship & Regional Development, 32(1-2), 176-196.

    Google Scholar 

  • Kim, P. H., Wennberg, K., & Croidieu, G. 2016. Untapped riches of meso-level applications in multilevel entrepreneurship mechanisms. Academy of Management Perspectives, 30(3): 273-291.

    Google Scholar 

  • Kirzner, I. M. 1973. Competition and entrepreneurship. Chicago: University of Chicago Press.

    Google Scholar 

  • Kirzner, I. M. 1997. Entrepreneurial discovery and the competitive market process: An Austrian approach. Journal of Economic Literature, 35, 60–85.

    Google Scholar 

  • Knight, F. H. 1921. Risk, uncertainty, and profit. New York: Augustus M. Lelley.

    Google Scholar 

  • Kogut, B., & Zander, U. 1992. Knowledge of the firm, combinative capabilities, and the replication of technology. Organization Science, 3(3): 383-397.

    Google Scholar 

  • Kreft, S. F. & Sobel, R. S. 2005. Public policy, entrepreneurship, and economic freedom. Cato Journal, 25(3): 595-616.

  • Kumar, N., & Chadha, A. 2009. India's outward foreign direct investments in steel industry in a Chinese comparative perspective. Industrial and Corporate Change, 18(2): 249-267.

    Google Scholar 

  • Landes, D. S., Mokyr, J., & Baumol, W. J. (Eds.) 2012. The invention of enterprise: Entrepreneurship from ancient Mesopotamia to modern times. Princeton, NJ: Princeton University Press.

    Google Scholar 

  • Langlois, R. N. 2016. Institutions for getting out of the way. Journal of Institutional Economics, 12(1), 53-61.

    Google Scholar 

  • Li, D., Hitt, M. A., Batjargal, B., Ireland, R. D., Miller, T. L., & Cuervo-Cazurra, C.-E. A. 2019. Call for papers: Institutions and Entrepreneurship. Global Strategy Journal: https://onlinelibrary.wiley.com/journal/20425805.

  • Lingappa, A. K., Shah, A., & Mathew, A. O. 2020. Academic, family, and peer influence on entrepreneurial intention of engineering students. SAGE Open, July-September: 1-12.

  • Liu, B., & Wang, Q. 2020. Can certification help incumbent firms? Asia Pacific Journal of Management, in this issue, doi:https://doi.org/10.1007/s10490-018-9632-6.

  • Loon, M., Otaye-Ebede, L., & Stewart, J. 2020. Thriving in the new normal: The HR microfoundations of capabilities for business model innovation. An integrated literature review. Journal of Management Studies, 57(3): 698-726.

    Google Scholar 

  • Lounsbury, M., & Glynn, M. A. 2001. Cultural entrepreneurship: stories, legitimacy, and the acquisition of resources. Strategic Management Journal, 22(6-7): 545-564.

    Google Scholar 

  • Mair, J., Martí, I., & Ventresca, M. J. 2012. Building inclusive markets in rural Bangladesh: How intermediaries work institutional voids. Academy of Management Journal, 55(4): 8819-850.

    Google Scholar 

  • McCloskey, D. N. 2010. Bourgeois dignity: Why economics can't explain the modern world. Chicago: University of Chicago Press.

    Google Scholar 

  • McCloskey, D. N. 2013. Tunzelmann, Schumpeter, and the hockey stick. Research Policy, 42(10): 1706-1715.

    Google Scholar 

  • McMullen, J. S., Bagby, D. R., & Palich, L. E. (2008). Economic freedom and the motivation to engage in entrepreneurial action. Entrepreneurship Theory and Practice, 32, 875–895.

    Google Scholar 

  • Mokyr, J. 1990. The lever of riches: Technological creativity and economic progress. Oxford: Oxford University Press.

    Google Scholar 

  • Mokyr, J. 2002. The Gifts of Athena: Historical Origins of the Knowledge Economy. Princeton, NJ: Princeton University Press.

    Google Scholar 

  • Morris, S., Hammond, R., & Snell, S. 2014. A microfoundations approach to transnational capabilities: The role of knowledge search in an ever-changing world. Journal of International Business Studies, 45(4): 405-427.

    Google Scholar 

  • Moulick, A. G., Pidduck, R. J., & Busenitz, L. W. 2019. Bloom where planted: Entrepreneurial catalyzers amidst weak institutions. Journal of Business Venturing Insights, 11: e00127.

    Google Scholar 

  • Nystrom, K. 2008. The institutions of economic freedom and entrepreneurship: Evidence from panel data. Public Choice, 136, 269–282.

    Google Scholar 

  • Opper, S., & Andersson, F. N. G. 2019. Are entrepreneurial cultures stable over time? Historical evidence from China. Asia Pacific Journal of Management, 36(4): 1165-1192.

    Google Scholar 

  • Peng, M. W. 2003. Institutional transitions and strategic choices. Academy of Management Review, 28(2): 275-296.

    Google Scholar 

  • Peng, M. W., Sun, S. L., Pinkham, B., & Chen, H. 2009. The institution-based view as a third leg for a strategy tripod. Academy of Management Perspectives, 23(3): 63-81.

    Google Scholar 

  • Phillips, W., Lee, H., Ghobadian, A., O’Regan, N., & James, P. 2014. Social innovation and social entrepreneurship: A systematic review. Group & Organization Management, 40(3): 428-461.

    Google Scholar 

  • Ployhart, R. E., & Hendricks, J. L. 2019. The missing levels of microfoundations: A call for bottom-up theory and methods. In S. E. Humphrey, & J. M. LeBreton (Eds.), The Handbook of Multilevel Theory, Measurement, and Analysis: 141-162. Washington, DC, US: American Psychological Association.

    Google Scholar 

  • Peng, M. W., Ahlstrom, D., Carraher, S. M., & Shi, W. S. 2017. An institution-based view of global IPR History. Journal of International Business Studies, 48(7), 893-907.

    Google Scholar 

  • Ogilvie, S. 2019. The European Guilds: An Economic Analysis. Princeton: Princeton University Press.

    Google Scholar 

  • Qi, J., Fu, X., Li, J., & Xie, J. 2020. The co-evolution of institutions and stakeholders in creating new industries. Asia Pacific Journal of Management, in this issue, doi:https://doi.org/10.1007/s10490-019-09650-8.

  • Oxfeld, E. (1992). Individualism, holism, and the market mentality: Notes on the recollections of a Chinese entrepreneur. Cultural Anthropology, 7, 267–300.

    Google Scholar 

  • Rodrik, D., Subramanian, A., & Trebbi, F. 2004. Institutions rule: the primacy of institutions over geography and integration in economic development. Journal of economic growth, 9(2), 131-165.

    Google Scholar 

  • Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5, Part 2): S71-S102.

  • Schumpeter, J. A. 1934. The theory of economic development: An inquiry into profits, capital, credit, interest, and the business cycle. Cambridge: Harvard University Press.

    Google Scholar 

  • Scott, W. R. 2013. Institutions and organizations: Ideas and interests. Thousand Oaks: Sage Publications.

    Google Scholar 

  • Shen, N., Au, K., & Li, W. 2020. Strategic alignment of intangible assets: The role of corporate social responsibility. Asia Pacific Journal of Management, in this issue, doi: https://doi.org/10.1007/s10490-019-09681-1.

  • Shi, W., Sun, S. L., & Peng, M. W. 2012. Sub-national institutional contingencies, network positions, and IJV partner selection. Journal of Management Studies, 49(7): 1221-1245.

    Google Scholar 

  • Shi, W., Sun, S. L., Yan, D., & Zhu, Z. 2017. Institutional fragility and outward foreign direct investment from China. Journal of International Business Studies, 48(4): 452–476.

    Google Scholar 

  • Si, S., Ahlstrom, D., Wei, J., & Cullen, J. 2020. Business, entrepreneurship and innovation toward poverty reduction. Entrepreneurship & Regional Development, 32(1-2), 1-20.

    Google Scholar 

  • Si, S., Yu, X., Wu, A., Chen, S., Chen, S., & Su, Y. 2015. Entrepreneurship and poverty reduction: A case study of Yiwu, China. Asia Pacific Journal of Management, 32(1): 119-143.

    Google Scholar 

  • Spence, M. 1973. Job market signaling. Quarterly Journal of Economics, 87(3): 355–374.

    Google Scholar 

  • Su, J., Zhai, Q., & Karlsson, T. 2016. Beyond red tape and fools: Institutional theory in entrepreneurship research, 1992–2014. Entrepreneurship Theory and Practice, 41(4): 505-531.

    Google Scholar 

  • Sun, S. L., & Im, J. 2015. Cutting microfinance interest rates: An opportunity co-creation perspective. Entrepreneurship Theory and Practice, 39(1): 101-128.

    Google Scholar 

  • Sun, S. L., Xiao, J., Zhang, Y., & Zhao, X. 2018. Building business models through simple rules. Multinational Business Review, 26(4): 361-378.

    Google Scholar 

  • Sun, S. L., Yang, X., & Li, W. 2014. Variance-enhancing corporate entrepreneurship under deregulation: An option portfolio approach. Asia Pacific Journal of Management, 31(3): 733-761.

    Google Scholar 

  • Sun, S. L., Zhang, Y., Cao, Y., Dong, J., & Cantwell, J. 2019. Enriching innovation ecosystems: The role of government in a university science park. Global Transitions, 1(1): 104-119.

    Google Scholar 

  • Sutter, C., Bruton, G. D., & Chen, J. 2019. Entrepreneurship as a solution to extreme poverty: A review and future research directions. Journal of Business Venturing, 34(1): 197-214.

    Google Scholar 

  • Thornton, P. H., Ribeiro-Soriano, D., & Urbano, D. 2011. Sociocultural factors and entrepreneurial activity: an overview. International Small Business Journal, 29(2): 105-118.

    Google Scholar 

  • Tomizawa, A., Zhao, L., Bassellier, G., & Ahlstrom, D. (2020). Economic growth, innovation, institutions, and the Great Enrichment. Asia Pacific Journal of Management, 37(1): 7-31.

    Google Scholar 

  • Tsui, A. 2013. On compassion in scholarship: Why should we care? Academy of Management Review, 38(2): 167-180.

    Google Scholar 

  • Von Mises, L. 1949. Human action: A treatise on economics. London: William Hodge.

    Google Scholar 

  • Yang, X., Sun, S. L., & Zhao, X. 2019. Search and execution: examining the entrepreneurial cognitions behind the lean startup model, Small Business Economics, 52(3), 667-679

  • Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., & Jiang, Y. 2008. Corporate governance in emerging economies: A review of the principal–principal perspective. Journal of Management Studies, 45(1), 196-220.

    Google Scholar 

  • Young, M. N., Tsai, T., Wang, X., Liu, S., & Ahlstrom, D. 2014. Strategy in emerging economies and the theory of the firm. Asia Pacific Journal of Management, 31(2), 331-354.

    Google Scholar 

  • Yu, X., Li, Y., Su, Z., Tao, Y., Nguyen, B., & Xia, F. 2020. Entrepreneurial bricolage and its effects on new venture growth and adaptiveness in an emerging economy. Asia Pacific Journal of Management, in this issue, doi: https://doi.org/10.1007/s10490-019-09657-1.

  • Zahra, S., & Wright, M. 2011. Entrepreneurship’s next act. Academy of Management Perspectives, 25, 67–83.

    Google Scholar 

  • Zhang, X., & Whitley, R. 2013. Changing macro-structural varieties of East Asian capitalism. Socio-Economic Review, 11(2): 301-336.

    Google Scholar 

  • Zhu, R., & Sun, S. L. 2020. Fostering generative partnerships in an inclusive business model. Sustainability, 12(8): 3230.

    Google Scholar 

Download references

Acknowledgements

The guest editors would like to thank the Research Center of Entrepreneurial Management of Nankai University for the support of this special issue and for the sponsorship for the special issue workshop on June 19-20, 2019 with China’s National Nature Science Fund: 71532005. The guest editors also thank Mike W. Peng for his consulting and guidance.

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Sunny Li Sun.

Additional information

Publisher’s note

Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Sun, S.L., Shi, W.(., Ahlstrom, D. et al. Understanding institutions and entrepreneurship: The microfoundations lens and emerging economies. Asia Pac J Manag 37, 957–979 (2020). https://doi.org/10.1007/s10490-020-09738-6

Download citation

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s10490-020-09738-6

Keywords

Navigation