The role of finance in the literature of entrepreneurial ecosystems
Financial access is considered a crucial element of entrepreneurship.
Much of the literature focuses on how individual actors demand or
supply finance, but rarely within the context of systemic
entrepreneurship. The current entrepreneurial finance literature is
fragmented and rooted in various traditions. However, the
entrepreneur’s perceived role in aggregated wealth creation is
currently being strengthened, most recently by the emerging
entrepreneurial ecosystem perspective. This calls for exploring the
role of finance in systemic entrepreneurship and entrepreneurial
ecosystems. By conducting a systematic literature review of
financial determinants, sources and effects, the study synthesizes
debates across the different research fields, i.e. finance,
entrepreneurship and regional development. As the entrepreneurial
ecosystem concept is considered a pre-paradigmatic approach, the
paper argues that the role of finance depends on how we regard
and define ecosystems. The state of knowledge is also
underdeveloped due to the obstacles of acquiring longitudinal
data. Such issues keep us from achieving a better evolutionary and
processual understanding of the financial dynamics in ecosystems
and, therefore, presents a promising avenue for future research.
Much of the literature focuses on how individual actors demand or
supply finance, but rarely within the context of systemic
entrepreneurship. The current entrepreneurial finance literature is
fragmented and rooted in various traditions. However, the
entrepreneur’s perceived role in aggregated wealth creation is
currently being strengthened, most recently by the emerging
entrepreneurial ecosystem perspective. This calls for exploring the
role of finance in systemic entrepreneurship and entrepreneurial
ecosystems. By conducting a systematic literature review of
financial determinants, sources and effects, the study synthesizes
debates across the different research fields, i.e. finance,
entrepreneurship and regional development. As the entrepreneurial
ecosystem concept is considered a pre-paradigmatic approach, the
paper argues that the role of finance depends on how we regard
and define ecosystems. The state of knowledge is also
underdeveloped due to the obstacles of acquiring longitudinal
data. Such issues keep us from achieving a better evolutionary and
processual understanding of the financial dynamics in ecosystems
and, therefore, presents a promising avenue for future research.
Publisert i European Planning Studies, 2022
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