Scholars interested in the study of entrepreneurship processes can approach this task in two different ways: they can propose a new theory based on previous ones, i.e. theorizing, or they can research a theory based on empirical observations, i.e. theory building. This paper embraces the second approach and takes into account some proxies to operationalize a specific dynamic view of entrepreneurship processes, including the concepts of dynamic capabilities in entrepreneurship, the likeability bias, and the quest for balance. By looking at entrepreneurship as a global phenomenon and by relying on data retrieved from the Global Entrepreneurship Monitor – G.E.M. website, the results emerging from stochastic frontier analyses – SFAs allow focusing on random and technical inefficiencies of specific models. These inefficiencies lead to questioning the dynamic view of entrepreneurship processes and suggest advancing theory building in entrepreneurship carefully. Beyond statistical principles, the reflections concerning the risks associated with the attempt to operationalize the dynamic view of entrepreneurship processes – i.e., theory building – urge scholars to proceed in a careful and balanced way when trying to advance this research.
