Review of Business and Management Studies

The provided document is a comprehensive review of business and management studies. It covers various aspects of the field, including innovation, entrepreneurship, and e-commerce. The review is based on an analysis of relevant literature and research papers, including articles from Emerald, Business Sources, and Library databases. The document also includes a mind map that visualizes the topics and concepts discussed in the review. Overall, this document provides a detailed overview of business and management studies, making it a valuable resource for students and researchers in the field.

Incentive effects on
innovative
entrepreneurship

TABLE OF CONTENTS
INTRODUCTION ..........................................................................................................................3
THEORIES AND ASSUMPTIONS ...............................................................................................3
LITERATURE REVIEW................................................................................................................6
EVIDENCE....................................................................................................................................11
PERSONAL COMMENTS...........................................................................................................11
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
APPENDIX....................................................................................................................................17

INTRODUCTION
Creativity or innovation is considered to be as important business activities of small
firms. Entrepreneurs are those people who have high capability to bear risk. Profit is considered
to be as important factors which encourages people to take risk. In addition to this, taxation
policy implemented by the government in the nation have direct as well as significant influence
on the decision of an entrepreneur to facilitate innovation. Increase in tax rate by the government
in the nation can have lead to the decline in profit earned by entrepreneur. Entrepreneurs of small
business widely believe in facilitating innovation and they make significant contribution on
development of society. Promotion of an entrepreneurial venture is considered to be as good for
growth of nation. Therefore, it is required by government in the country to support entrepreneurs
by developing an effective taxation policy. As profit or revenue earned by small business
entrepreneur can be utilised for betterment of society. In addition to this, government by
supporting as well as positively influencing entrepreneur for innovation can easily attract
investors. There are various types of incentives which might encourage entrepreneur to facilitate
innovation these are monetary incentive and non-monetary incentive, pierce rate incentive and
competitive incentives. All these incentive can have direct as well as significant effect on the
creative performance on entrepreneur. There are mainly two components which generally
encourages entrepreneur to facilitate innovation includes legal environment as well as easer in
getting funds for creativity.
The essay will have focus on analyzing the role of governance in promoting
entrepreneurial innovation. Study will have emphasizes on analyzing the view of different
authors about Effect of incentives on innovative entrepreneurship.
THEORIES AND ASSUMPTIONS
Entrepreneurial innovation and taxation:
In this present era, it has been analyses that innovation and entrepreneurship plays an
effective role in economy of UK and it also improved the standard of living by lowering the
prices, pay high wages and provide facilities to their healthcare. Further it is the responsibility of
entrepreneurs and their management to brought some effective innovation practice in their
working area (Antonelli, 2019). Apart from this, it has been analyzed that by using open funnel
innovation theory whose main concept is to grow the business in order to maximizes the profit
and increases the sales. Therefore, it is quite necessary for the managers of an organization to

develop those strategies which is quite beneficial for the firm to sustain their brand image in
market. Further, it has been realized that an open innovation model is a progressive model in
which the ideas are further moved through different stages and this Is also link with the strategy
so that it will help to monetize and licensing the end result through the innovation.
Another theory is Gate process which is project management technique which is divided
into several stages and each gate is decided by the manager that helps in forecasting such as
business case, risk analysis. This theory basically involves quality of execution, business
rationale and provide the best output that further helps to maximizes the profit and sustain its
brand image in market.
The crowding out hypothesis related to creativity argues that it is the intrinsic motivation
which encourages entrepreneur for facilitation innovation rather than incentives as well as
taxation policy of government. Other theory associated to creativity dictates that extrinsic
motivation might undermine intrinsic motivation. The author also states that undermining of
intrinsic motivation can have adverse effect on the creativity of an entrepreneur.
According to the Baumol theory, rate on return which an entrepreneur perceives have
direct as well as significant influence on their decision related to facilitating innovation. This
hypothesis is based on the assumptions that there are many variables such as fair as well as
balanced Judiciary, legal authority providing secure property right, effective limits of
government ability to redistribute wealth through taxes as well as regulations encourages
entrepreneur to facilitate innovation. According to the four stage model, at first phase, business
owner invest as well as select the project considering the nature of risks and return in context of
developing the invention. At the second phase, entrepreneur reveals the success of the project
and then investors those who have made investment decides to sell inventions in the market. By
entering into the market, entrepreneur will benefit from lower taxes and additional government
support only the situation when project is successful.
Incentive for innovation can be studied by using the multi task principal agent hypothesis.
In multi task principle model the agents does not develop the understanding about the
distribution of pay off which is considered to be as crucial in context of procedure of exploration.
The author argues that the major limitation of multi task principle hypothesis is that this
hypothesis does not incorporate experimentation, adaptation as well as learning all which are
considered to be as important features of innovation.

As per the theories of business cycle which states that changes in investment accompanies by
monetary expansion is considered to be as a crucial component behind the fluctuation of business. According to
the Schumpeter’s Theory of Innovation, the main reason for innovation by an entrepreneur is business fluctuations
as well as increased investment. The author states that it is required by government in nation to increase investment
and support small business owners in facilitating innovation.
Principal agent model states that business owners will take high initiatives towards innovation if they
expect that the costly action which were taken by them will be rewarded.
Taxation on department
In this modern world, it has been realized that research and development department of
the company grow the productivity and also helps in overall performance of the business with
country economy, further taxation also help in the achievement of social purpose and company's
objectives. Moreover, the innovation in the small business are considered an expensive activity,
but still it is used by many firm to grow their business and develop its business in the term of
profit as well. It is also observed that manager of the company also develop new techniques in
order to remain top and to maintain the competitive advantages as well. Such that by introducing
new technique will also help them to reduce the impact of taxation and improve the profit for the
firm (Bason, 2018). But, now a days, it is also realized that by introducing new technology into
the working area also sometimes creates a negative impact upon the business and in respect to
this, research and development department in UK government also introduce or formulated new
tax credit policy to their small business so that it will be able to foster up the innovation in order
to attain all defined objectives of the firm.
Apart from this, research and development department also formulated to add some
incentives in order to foster up the economy of country and it is possible only when small and
medium business in UK are mainly focused on the quality of research and development Tax
credit. After this, it is the responsibility of the manager to properly investigate about the market
condition and then invest amount in adopting some technologies as well.
Innovation research in business:
Innovation is the basic and foremost requirement for the business because it helps a
business to improve the performance and their productivity as well. This is basically done in
small business such that they always invest some amount to produce some innovative things in
their business and through innovation management theory, that helps other members of a

company to work in effective manner. This results to face many complex situation which may
cause hinder in their performance as well. It has been further analyses that in every business, the
there are many innovation methods which are applied by the company so that it helps to disclose
the actual difference between the pen and closed innovation methods as well. Further, choosing
the best method of innovation is the best strategy that is helpful to disclose the actual difference
between an open and closed innovation (Lusch and Nambisan, 2015).
From the above mention all the theories, it has been further analyzed that only an
entrepreneur can manages or adopt new technologies so that it will easily helpful to reduce the
negative impact upon the taxation and for that reason, the UK government also developed some
research and development tax credit which further reduces the expenses that in beard by
company in their respective projects. Thus, managers of the firm have to focus in order to
improve the profitability of a business and then apply the concept of open innovation method, as
a result, it also helps to develop new innovation that supports to raise the market share of a
business and also increases the economy as well.
LITERATURE REVIEW
The author Xie, Song, Zhang and Chen, 2018. , defines incentives as core for the
formation of entrepreneurship and the adaptation of companies to changes. As per the opinion of
Foss, Klein and Bjørnskov, (2018), incentive is a motivational force which inspires an
entrepreneur to facilitate innovation.
According to the view of Guimón, Chaminade and Salazar-Elena, 2018., Competitive
incentives offers more complex relationship between performance as well as reward. The author
states that reward is the important factor which have great impact on the creative performance of
entrepreneur. As per the opinion of Wang, 2018. ), risk-averse participant mostly prefer reward
based incentive. The author argues that competition is the rewards which force entrepreneur for
facilitating innovation. According to the perception of Ács, Szerb, Lafuente and Lloyd, 2018. ,
incentives does not enhance the creative output, in case where innovative entrepreneur are not
provided with financial incentives for their innovative ideas. The author argues (), that
competitive reward have the negative impact on the creativity of innovative entrepreneurs. He
also stated that due to high competitive pressure, entrepreneur might face difficulty in generating
new ideas. As per the view of (), both incentives and rewards can lead to decline in the creativity

of. The author also perceives that reward and incentive distract the attention of entrepreneur
which have negative effect on the innovative performance of them. The study conducted by
author (), reveals that monetary rewards are determinable in context of creativity. According to
the opinion of (), incentives energizes an individual for facilitating innovation. The author also
argues that incentive structure plays crucial role in positively influencing entrepreneur to engage
in productive entrepreneurship. As per the thinking of author Ács, Szerb, Lafuente and Lloyd,
2018., Tax based incentives can be quite effectual in context of promoting entrepreneurial
innovation. According to the view of Guimón, Chaminade and Salazar-Elena, 2018. , decrease
in corporate tax has positive influence in the decision of entrepreneur to taking risk and
facilitating innovation. The author (), argues that it is the provision of loss offset which has
inspired business owner of small enterprise to take risk and develop innovative products or
services. The benchmark model is based on assumptions that successful inventions assist
companies in minimizing fixed cost of production. As per the opinion of Wang, 2018, there are
various taxes such as capital gain, personal income tax, etc. all these extra expenditures leaves
business with less income that further restricts them from facilitating innovation. The author,
argues that some small business owners facilitates innovation, as perceive that high tax rate in
the country can lead to the decline in their profitability.
According to the view of Peñón and Ortega,(2018), introducing compensation schemes Is
considered to be as one of the best strategy for influencing an entrepreneur to facilitate
innovation. Author also states that compensation schemes are less sensitive to performance. The
author O'Connell, Lee and O'Sullivan,(2018), argues that results of innovation activities are
unpredictable. As per the opinion of Darnihamedani, Block and Simonyan, (2018) an effective
allocation of right is considered to be as suitable tactics for promoting entrepreneurial innovation
rather than other incentives. According to the opinion of Kobarg, Stumpf-Wollersheim and
Welpe,(2018), the reward for innovation should be based the quality of performance by
entrepreneur. As per the multi task principal agent hypothesis optimal incentives schemes which
is implemented for inspiring entrepreneurs to facilitate innovation exhibits substantial tolerance
for early failure and reward for long-term success. The author Reinecke,(2018) , argues that
compensation plan is the most effective strategy for inspiring business owners to facilitate
innovation. As per the perception of Liotard and Revest, (2018), pay for performance has an
affirmative impact on the productivity. The author also states that incentives actually undermine

performance particularly which requires explorations as well as creativity. According to the
opinion of Yigitcanlar, Sabatini‐Marques and Palandi, (2018), incentives can be the best way for
motivating people to improve performance but it is ineffective technique for inspiring an
entrepreneur to facilitate innovation. The author Xie Song, Zhang and Chen(2018 ), argues that
reward long-term success encourage innovation. According to the thinking of Guimón,
Chaminade and Salazar-Elena, (2018), standard wages for performance as well as fig wage can
also be considered to be as one of the best strategy for motivating an entrepreneur to facilitate
innovation. The author He and Tian, (2018), argues that the threat of termination can
undermine incentives for innovation, while golden parachutes can alleviate these innovation-
reducing effects. He also said that implementation of an effective incentive schemes is very
much essential in order to motivating an entrepreneur for facilitating innovation. As per the view
of Ács, Szerb, Lafuente and Lloyd, 2018, effect of incentive schemes might varies according to
the orientation of an organization towards innovation. According to the thinking of Kobarg,
Stumpf-Wollersheim and Welpe,(2018), promotion-based incentives reflect a long-term horizon.
The author also states that the process of generation of an idea to its commercial exploitation has
been shortened.
According to the innovation theory of profit, an entrepreneur can earn profit which is
considered to be as incentive by facilitating successful innovation. In simple words, innovation
model of profit dictates that important role of business owner is to innovate and earn profit as
reward for their performance. As per the thinking of O'Connell, Lee, and O'Sullivan,(2018),
business owner can earn higher profit for long time if legislation enables him to patent his
innovation. The author argues that three environmental incentives of an entrepreneurship are
support of government, cultural as well as social norms and education positively influence an
entrepreneur to facilitate innovation.
According to the opinion of Darnihamedani, Block and Simonyan,(2018), increase in the
tax rate by government lead to decline in an entrepreneurial activity. In other words, rise in tax
rate discourage innovation. The author also states that there is adverse relationship between
entrepreneurship and Tax structure. As per the opinion of Foss,Klein and Bjørnskov,(2018),
progressive taxation system limits entrepreneurship as well as retards the expansion of
innovative industries. The author argues that development of favorable fiscal policies can be
useful in context of promotion of entrepreneurial innovation. According to the study conducted

by scholar, which reveals that reduction in the tax rate leads to capital formulation which
stimulates investment.
As per the view of Liotard and Revest,(2018), higher marginal tax have negative decision
of an entrepreneur to facilitate innovation. The author Yigitcanlar, Sabatini‐Marques and
Palandi,(2018), argues that higher marginal tax rate have positive influence on an entrepreneurial
decision to innovate. According to the thinking of Ács, Szerb, Lafuente, and Lloyd,(2018), an
entrepreneur decision related to development of new procedure, products or services is highly
effected by the kind of tax imposed by government in the country on specific industry.
According to the opinion of Foss,Klein and Bjørnskov,(2018), increase in tax can lower
entrepreneurship via the ‘incentives’ effect. Author also states that rise in tax might lead to the
decline in profitability of an entrepreneurial that can have further effect on their decision to
facilitate innovation. As per the perception of Darnihamedani, Block and Simonyan,(2018), tax
evasion schemes can be considered to be as one of the best strategy for promoting an
entrepreneurial innovation.
Role of government in promoting entrepreneurial innovation
According to the view of (), government intervention plays very crucial role in
encouraging people to facilitate innovation. The author also states that legal authority in the
nation can intervene in promoting the entrepreneurial innovation by implementing regulations as
well as favorable policies for motivating an entrepreneur to become more creative. The author
Guimón, Chaminade and Salazar-Elena, (2018), argues that government in the nation can
introduce various schemes related to the taxation, finance, as this will assist them in encouraging
entrepreneurs for facilitating innovation. As per the opinion of Foss, Klein and Bjørnskov, 2018.
legal authority can provide the legal as well as financial support to entrepreneurs for doing
innovation. According to the view of Liotard and Revest, 2018., government can grant Tax
subsidies, as this is the best way to motivate entrepreneur for facilitating innovation. The author
Xie, Song, Zhang and Chen, 2018. , argues that government is required to provide easy access to
funding which will help them min promoting the entrepreneurial innovation. According to the
view of He and Tian, 2018. , subsidies grant as well as incentive can be meaningful during the
time of economic crisis. As per the view of Peñón and Ortega, 2018. , government is required to
provide all the resources to entrepreneur which are required for facilitating innovation. The

author Wang, 2018 , argues that by developing the fiscal policy can encourage entrepreneurs to
develop innovative products and services. According to the perception of Ács, Szerb, Lafuente
and Lloyd, 2018. , government might promote as well as prevent entrepreneurial activity by
providing them with an appropriate environment. According to the view ofXie, Song, Zhang and
Chen, 2018. , Business Innovation Research program can be executed by government in nation
fore promoting entrepreneurial innovation. For instance, In United Kingdom, the two program
which are conducted by the government in the nation, one of them these are small business
innovation research as well as technological innovation program. As per this program, legal
authority in the nation provides 3 million dollars for successful innovation. Other example is
corporate tax rates have fallen significantly below personal income taxes in order to encourage
firms for facilitating innovation. The authorO'Connell, Lee and O'Sullivan, 2018, argues that the
government increase tax rate as this will be an effective way to motivate entrepreneur of small
companies to facilitate innovation. According to the perception of Yigitcanlar, Sabatini‐Marques
and Palandi, 2018, role of the legal authority in nation is to provide entrepreneur to provide funds
for conducting the research as this is the best way for encouraging business owners to develop as
well as implement innovative ideas. As per the opinion of (), government can play significant
role in promotion of entrepreneurial venture by imposing direct subsidy to research and
development activity. The author Ács, Szerb, Lafuente and Lloyd, 2018. , argues that incentive
does not affect entrepreneurial mindset related to facilitating innovation.
According to the opinion of Liotard, I. and Revest,(2018), government has important
role to motivate an entrepreneur for facilitating innovation by developing an effective
compensation policies. The author also states that the two important factors which are to be
considered while formulation of compensation policy for promoting entrepreneurial innovation
are experimentation and learning. As per the view of Xie, Song, Zhang and Chen, (2018), it is
the duty of government to make the formation of entrepreneurial activity as their priority. The
author also states that role of government is to actively involved in the development of an
effective policy for entrepreneurial ecosystem which will assist them in promoting an
entrepreneurial innovation. According to the opinion of Wang,(2018), role of government to
develop such legislation which enables an individual to patent their innovation so that they could
earn higher profit for long time. In addition to this, author also states that this could be one of the
most effective strategy for motivating an entrepreneur to facilitate innovation.

EVIDENCE
There are many of the evidence which supports the crowding out hypothesis. The
previous studies executed on same topic provide the evidence for the crowding out hypothesis
which states that financial incentives encourage an entrepreneur to facilitate innovation. But
crowding out hypothesis also dictates the monetary incentive have negative effect on creativity.
For example, a case study of A university, educational institution has drawn two prizes to
students those who made the best collages at party. As per the opinion of author (), extrinsic
rewards crowd out specific behavior. In simple words, authors want to state that incentives and
reward are suitable for influencing people to develop specific attitude. The author has also said
that extrinsic rewards is much More effective in context of encouraging entrepreneur to facilitate
innovation.
The other evidence is that In UK government has launched a program which strengthen
the provision of subsidies which has been specially designed for promoting the entrepreneurial
ventures. As per the provision of subsidies, an individual belonging to the age of eighteen years
those who are willing to transform innovative idea innovation will be granted with Tax subsidy.
The provision also supports small companies which intends to commercially exploit innovative
ideas by introducing new goods or services. Many of the OECD countries has had implemented
new tax system according to which positive earning of an entrepreneur are immediately taxed
which has completely discouraged the entrepreneurial innovation. As per the new tax system,
small business owners those who are developing single business idea will not be able to claim tx
rebate if they make investment in project which turn into unsuccessful. In context of UK, for
instance, provision of restrictive loss offset specially for entrepreneurs is considered to be as
bigger barrier in context of growth of innovative business. The author (), argues that restrictions
on loss offset possibility are less crucial when the project is sold to a large, incumbent
organization as the functionary is more wide-ranging and most possibly will able to offset losses
on a new investment against positive taxable profits earned in its other operations.
PERSONAL COMMENTS
From this research paper it has been analyzed that there are various policies which are
introduced by the government of UK that basic aim is to support the innovation in business and
also reduce the impact of taxation as well. For this, reason, tax credit is the one that is introduced
by the UK government in order to reduce the expenses which are involved in research and

development department and it has been analyzed that UK government is very much concern
about the economy of the country and that is why it introduces the policy. This policy is
introduced for small and medium based business and even more than 70% of the business are in
work in small scale because they are less affected from the tax. On the other side, it is further
analyzed that most of the large organization in UK also faces low production and sales because
of the negative impact of Brexit and even the economy of UK is also not as much stable (Kogan
and et,al., 2017).
But it is also further realized that innovation is the best method or practice that is used by
the many large and small business in order to grow their business. In the era of fast paced
technological change, innovation has become a business imperative, but on the other side it is
also not easy for the business to make experimentation and risk taking which is an integral
business practice. In order to grow the business and reach to top level of business, the
entrepreneurs also provide a different incentive to their employees because it has been realized
that these incentive encourage their employees to generate new ideas in order to grow the
business and attain the defined goals in defined time as well. It has been analyzed that providing
incentives to their employees creates a positive impact upon the business and it also leads to
maximize the sales of a business as well.
It has been also observed that taxation on the business innovation also creates positive
impact upon the companies such that whatever the tax is collected by the business is further
helps to boost up the economy of the country (Christensen, Raynor and McDonald, 2015).
Moreover, the business also get different types of taxation which further help to operated in
appropriate manner. Even it has been further identified that government of UK always support
those organizations who wants to expand their current business by introducing new products as
per to meet out the demands of their customers. But when a business wants to enter into new
country, at that time there are some legal formalities that may also creates hurdle but on the other
side, when a company wants to enter into UK market, at that time the government of UK and
legal authorities also provide them tax benefits which further help a firm to successfully enter
into the market.
Moreover, when the company wants to introduce new incentives upon the business, then
it also creates a positive impact upon the business because it is further analyzed that when a
incentive are implied into the business then the employees are automatically motivated and as a

result, they provide innovative ideas which further help to raise the brand image of the business
or increases profitability as well. Apart from this, using their own capabilities, the employees
provide new ideas for innovation that helps to attract wide range of customers towards it.
Moreover, it is also observed by the researcher that apart from the government, legal authorities
are also highly supports to those firm who are going to work for the innovation because provide
the best quality of innovative products to their customers will lead to boost the national economy
of the country (Berry and Berry, 2018). But on the other side, in order to expand the business at
further level, it is quite necessary to make proper research and determine the needs of their
customers as well. Even, whenever the business wants to introduce new innovative products, at
that time, the legal authority and UK government definitely support the firm and also provide
solutions in order to overcome all the economic challenges which are faced by the country.
Apart from this, the government of UK also develop a variety of schemes in order to
motivate their employees and one of them is incentives, which means that the employees should
work in fixed time and if they work extra then it is the responsibility of the manager, to provide
incentives to them that is extra payment apart from their defined wages. This scheme helps to
raise the productivity of their employees and increases the output as well. It is also observed that
by providing incentives which helps to create positive impact upon the business with employees
creates a long term results and also provide job security too. Thus, it has been also realized that a
incentive scheme will help to provide success to their business and also raise the profitability and
productivity of the company. Beside this, the incentives and reward are suitable for influencing
people to develop specific attitude. Further, it has been analyses that extrinsic rewards is much
More effective in context of encouraging entrepreneur to facilitate innovation. In UK, through
research it is also realized that even the regulatory bodies also decreases the tax rate for those
business who innovate the products as per the demands of their customers and this will further
help to operate the business in appropriate manner and for the smooth functioning of its
operations.
Moreover, to sustain in this competitive world, it has been analyzed that by introducing
innovative products into the working area will be quite beneficial for the business to raise the
profitability (Jensen and et,al., 2016). As the government of UK also imposed different strategy
such that research and development tax credit policy due to minimize the extra spending in
research and development department so that the business is operated in appropriate manner with

an effective way. To raise the taxation and boost up the economy of the country, foreign trade is
also promoted by the legal authorities of UK that promote the business to sell their product in
foreign which helps to increase tax rate and grow the economy of the country. Overall, it has
been realized that incentives creates a positive impact upon the employee performance and on
the other side, taxation leave good impact upon company such that when a business grew after
implementing the innovation it leads to get more profit but on the other side, government also
imposes different laws or rules which somehow decreases the interest of the business owner and
employees to invest upon the innovation. Therefore, innovation helps to raise profitability while
taxation leads to lower down the profit.
CONCLUSION
It has been concluded from the above essay that creativity is valuable. The other fact
which has been found by conducting secondary research is that extrinsic reward is effective in
relation to encouraging an individual to facilitate innovation but it has adverse effect on creative
performance of entrepreneur. It has been concluded from the essay is that it is the internal factor
effect an individual to facilitate innovation. The other fact which has been found is that
competition might create pressure on entrepreneur because of which they might face difficulty in
generating new ideas.
It has been concluded from the study that compensation as well as funding are considered
to be as one of the best strategy for promoting an entrepreneurial innovation. The other fact
which has been discovered during the study is that organizational incentives positively effects
innovation. It has also been concluded from the assignment that performance base pay as well as
promotion is considered to be as one of the appropriate way of promoting an entrepreneurial
innovation. In simple words, there is direct relationship between incentive and innovation.

REFERENCES
Books and Journals
Ács, Z.J., Szerb, L., Lafuente, E. and Lloyd, A., 2018. Enhancing Countries’ Productivity
Through a Healthy Entrepreneurial Ecosystem. In Global Entrepreneurship and
Development Index 2018 (pp. 39-53). Springer, Cham.
Antonelli, C., 2019. ASSESSING TECHNOLOGY AND INNOVATION POLICY.
Bason, C., 2018. Leading public sector innovation: Co-creating for a better society. Policy
Press.
Berry, F. S. and Berry, W. D., 2018. Innovation and Diusion Models in Policy Research.
In Theories of the policy process(pp. 263-308). Routledge.
Christensen, C. M., Raynor, M. E. and McDonald, R., 2015. What is disruptive
innovation. Harvard Business Review.93(12). pp.44-53.
Darnihamedani, P., Block, J.H.,and Simonyan, A., 2018. Taxes, start-up costs, and innovative
entrepreneurship. Small Business Economics, 51(2), pp.355-369.
Foss, N.J., Klein, P.G. and Bjørnskov, C., 2018. The context of entrepreneurial judgment:
organizations, markets, and institutions. Journal of Management Studies.
Guimón, J., Chaminade, C. and Salazar-Elena, J.C., 2018. Policies to attract R&D-related FDI in
small emerging countries: Aligning incentives with local linkages and absorptive
capacities in Chile. Journal of International Management, 24(2), pp.165-178.
He, J. and Tian, X., 2018. Finance and corporate innovation: A survey. Asia‐Pacific Journal of
Financial Studies, 47(2), pp.165-212.
Jensen, M. B. and et,al., 2016. Forms of knowledge and modes of innovation. The Learning
Economy and the Economics of Hope; Anthem Press: London, UK. 155. pp.155-182.
Kobarg, S., Stumpf-Wollersheim, J. and Welpe, I.M., 2018. University-industry collaborations
and product innovation performance: the moderating effects of absorptive capacity and
innovation competencies. The Journal of Technology Transfer, 43(6), pp.1696-1724.
Kogan, L. and et,al., 2017. Technological innovation, resource allocation, and growth. The
Quarterly Journal of Economics.132(2). pp.665-712.
Liotard, I. and Revest, V., 2018. Contests as innovation policy instruments: Lessons from the US
federal agencies' experience. Technological Forecasting and Social Change, 127, pp.57-
69.

Lusch, R. F. and Nambisan, S., 2015. Service innovation: A service-dominant logic
perspective. MIS quarterly. 39(1).
O'Connell, V., Lee, J.H. and O'Sullivan, D., 2018. The influence of CEO equity incentives on
licensing. European Management Journal, 36(2), pp.266-277.
Peñón, I.E. and Ortega, S.R., 2018. The endowment effect on entrepreneurs: A risky
attachment. Estudios de economía, 45(2), pp.231-249.
Reinecke, J., 2018. General Innovation Competitions. Stan. Tech. L. Rev., 21, p.128.
Wang, X., 2018. Catering innovation: Entrepreneurship and the acquisition market. Kenan
Institute of Private Enterprise Research Paper, (18-27).
Xie, K., Song, Y., Zhang, W., and Chen, Y., 2018. Technological entrepreneurship in science
parks: A case study of Wuhan Donghu High-Tech Zone. Technological Forecasting and
Social Change, 135, pp.156-168.
Yigitcanlar, T., Sabatini‐Marques, J., and Palandi, F.E.D., 2018. Impact of funding sources on
innovation: evidence from Brazilian software companies. R&D Management, 48(4),
pp.460-484.

APPENDIX
Database Time spent Search terms Results Evaluation of
material
Emerald 1 hour Feedback from
the customers
50 articles Help to develop
ideas and essay
Business sources 1 and half hour E- commerce
management
10 articles Help to critically
analyses the
author review.
Library 1 hour Management of
quality,
recruitment and
selection
3 books Helps to collect
the information
regarding essay
Mind MAP