Operationalizing opportunities in entrepreneurship research: Use of data envelopment analysis

Sergey Anokhin, Joakim Wincent, Erkko Autio

Research output: Contribution to journalArticlepeer-review

27 Citations (Scopus)


Despite the impressive development of substantive theories in entrepreneurship, without the development of measurement theories, further advancement of the field is problematic. In particular, the notion of opportunities, central to entrepreneurship research, requires adequate macro-level operationalization. We demonstrate how to employ data envelopment analysis (DEA) to operationalize not only innovative opportunities, but also technological arbitrage opportunities. We provide an illustrative example based on a sample of 66 countries during the period of 1993-2002. We include estimates of innovative and arbitrage opportunities for possible use by other scholars, discuss the promise and limitations of such estimates, demonstrate how both innovative and arbitrage opportunities correlate with the rates of entrepreneurial activity, and suggest several possible directions for future research.

Original languageEnglish
Pages (from-to)39-57
Number of pages19
JournalSmall Business Economics
Issue number1
Publication statusPublished - 1 Jul 2011
Externally publishedYes


  • Arbitrage
  • Data envelopment analysis
  • Entrepreneurship
  • Innovation
  • Opportunities

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

Fingerprint Dive into the research topics of 'Operationalizing opportunities in entrepreneurship research: Use of data envelopment analysis'. Together they form a unique fingerprint.

Cite this