Urbano Pulido, D. Díaz Casero, J. C. Hernández Mogollón, R.
Year of Publication:
[Journal:] Investigaciones europeas de dirección de la empresa (IEDEE) [ISSN:] 1135-2523 [Volume:] 13 [Year:] 2007 [Issue:] 3 [Pages:] 183-198
In this article the most relevant aspects of Institutional Economics are presented, specially the approach by Douglas North (1990, 2005) as a consistent theoretical framework for the analysis of new firm creation. The paper revises the evolution of this theory considering the different generations of institutional authors and the basic principals are stated. Finally the application of North's approach is pointed out for the study of the conditioning environmental factors to entrepreneurship.
institutional economics entrepreneurship new firm creation formal and informal factors environmental factors Douglass North