This paper maintains that the consistent application of subjectivism helps to reconcile contemporary entrepreneurship theory with strategic management research in general, and the resource-based view in particular. The paper synthesizes theoretical insights from Austrian economics and Penrose's...

While a firm's performance is dependent on manyfactors, the performance of entrepreneurial firms can be analyzed according tothe firm's managerial knowledge and institutional investor ownership on thestock market.Several approaches are used to understand strategicmanagement. Initially, the...