Entrepreneurship in the Controversial Economy: Toward a Research Agenda

This work extends theory about entrepreneurship\r\nacross formal and informal institutional boundaries. While\r\nresearch has identified formal, informal, and renegade\r\neconomies, we introduce the concept of the controversial\r\neconomy, defined as the set of legal but illegitimate (to\r\nsome large groups) activities through which actors exploit\r\nopportunities. We explain the existence of the controversial\r\neconomy, its prevalence, and provide examples. We\r\nexplore how and why entrepreneurs may exploit opportunities in the controversial economy based on individual and\r\nopportunity-related attributes. Finally, we identify several\r\ntheoretical perspectives and research questions as an initial\r\nresearch agenda for the controversial economy.