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Innovation, Value Creation, and Entrepreneurship by Opportunity: An Analysis of European Countries

Innovation, Value Creation, and Entrepreneurship by Opportunity: An Analysis of European Countries
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Author(s): María-Soledad Castaño-Martínez (University of Castilla-La Mancha, Spain)
Copyright: 2020
Pages: 21
Source title: Analyzing the Relationship Between Innovation, Value Creation, and Entrepreneurship
Source Author(s)/Editor(s): Miguel-Ángel Galindo-Martín (University of Castilla-La Mancha, Spain), Maria-Teresa Mendez-Picazo (University Complutense of Madrid, Spain) and María-Soledad Castaño-Martínez (University of Castilla-La Mancha, Spain)
DOI: 10.4018/978-1-7998-1169-5.ch003

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Abstract

Technological progress is one of the main generators of increases in the production economy, involving the introduction of new products which, in turn, allows companies that carry out innovative actions to survive in the market. According to Schumpeter, innovation is an important source of value creation, improving growth in companies and economy. Thus, entrepreneurs introducing innovations in the market to take advantage of new business opportunities increase value creation, understood as the actions implemented to increase the value of goods and services created by enterprises. Likewise, the exploitation of these new opportunities that arises thanks to technological change are also largely conditioned by entrepreneurs' human capital, availability of financial resources, investment in research and development activities, expectations, and efficient business regulations.

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