Clusters, entrepreneurial ecosystem co-creation, and appropriability: A conceptual framework
- Publication Type:
- Journal Article
- Industrial and Corporate Change, 2012, 21 (6), pp. 1359 - 1388
- Issue Date:
Extant literature on clusters underplays the role of entrepreneurs and entrepreneurial management in creating and co-creating organizations, markets, and supporting ecosystems. We employ transaction costs, resource-knowledge-capabilities and power-control-based theories to provide a comparative static governance-based perspective on clusters. We embed this into a more general co-evolutionary entrepreneurial theory of the emergence, evolution and co-evolution of markets, ecosystems, and clusters. We suggest that clusters can involve advantages that help engender superior appropriation of co-created value, as compared to alternatives. Entrepreneurial managers, faced with a degree of choice, will help co-create clusters and be part of them, for as long as they can appropriate more value in this way than through alternatives. © The Author 2012. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.
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