The present study involves a literature survey of 1710 entrepreneurship papers published in 28 top business and economics journals in 12 research disciplines. This paper finds that despite increased recognition of the importance of entrepreneurship, the research literature on entrepreneurship remains fragmented. Studies of entrepreneurship processes have been the dominant theme, but new issues of entrepreneurship are emerging. Based on the entrepreneurship reviewed, this paper summarizes potential research directions.

The purpose of this paper is to study how related variety influences firm sales. We apply an instrumental variable method (as well as the most recent plausible instrumental variable method in robustness tests) to analyze more than 600,000 firm observations in all of Japan's 47 prefectures. We find that related variety, as a kind of regional industrial structure, has a U‐shaped relationship with firm sales. This finding enriches the related variety perspective by supplementing micro‐level evidence, revealing that the “related variety–firm sales” relationship is not linear, as most prior studies have suggested.

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