The analysis offers important insights on how three institutional logics – market, state and community – guide entrepreneurial action at the micro-level and affect value creation. Our evidence supports the use of these activities to fulfil important economic functions and to nurture family and social relations in closely-knit communities. Differences in the embeddedness of individuals in each of these logics contributed to their perception of the value of their informal entrepreneurial actions along economic and social dimensions at the individual, community and society level and also at the short and long run.
Welter, F.; Xheneti, M. (2015): Value for Whom? Exploring the Value of Informal Entrepreneurial Activities in Post-Socialist Contexts, in: Mcelwee, G.; Smith, R. (ed.): Exploring Criminal and Illegal Enterprise: New Perspectives on Research, Policy & Practice (Contemporary Issues in Entrepreneurship Research, Volume 5) Emerald Group Publishing Limited, pp. 253 - 275.