Business model innovation and owner–managers: the moderating role of competition

This study examines the relationship among owner–managers, business model innovation, and competition. We present a newly constructed dataset of 111 new firms that launched electronic trading platforms (business model innovations) in the US and E uropean bond markets between 1995 and 2004. We contribute to the emerging literature on business model innovation by integrating effectuation theory with the A ustrian school's view of competition as a...