Theories of economic and social exchange in entrepreneurial partnerships: an agenda for future research
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Entrepreneurship research tends to focus on individuals and their actions. However, some entrepreneurial activities are borne and maintained through the efforts of several parties in entrepreneurial partnerships such as franchisor-franchisee relationships. Due to their very nature, these partnerships include economic and social exchanges. Such exchanges received limited attention in entrepreneurship literature. To address this omission, this study first delves into the theories of economic and social exchange to illuminate their relevance for entrepreneurial partnerships. Next, this paper puts forward an agenda for future research agenda based on the tenets of interdependent reciprocal exchange in entrepreneurial partnerships. This research effort has a potential to spur future studies on the use reciprocity in other areas of entrepreneurship such as social entrepreneurship and international entrepreneurship.
KeywordsAgency theory Economic exchange Social exchange Entrepreneurial partnerships Reciprocity Franchising
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