Family businesses and non-family equity: literature review and avenues for future research

Family firms commonly prefer internal funding and retention of control. Under certain circumstances, however, equity investments from outside the family can be a relevant alternative source of capital. To facilitate further knowledge about the interaction of family-owned businesses and external equity investors, the present work reviews 42 studies and suggests possible directions for future research. Results reveal that extant studies focus mainly on five key areas—corporate finance, contract design and collaboration, succession and exit route, strategy and performance, and corporate governance. Moreover, the paper discusses various gaps in the extant work and presents three opportunities for future research in a detailed manner. These include a comparison of different types of investors in the context of family-owned businesses, an investigation of minority investor exits from family firms, and an analysis of the impact of investors on family firm boards. All in all, the findings can guide the future development of this emerging field of research and have implications for theory and practice.     

Hidden champions: a review of the literature & future research avenues

Management Review Quarterly - Substantial efforts have contributed to overcome the scarcity of research on hidden champions. Nevertheless, literature has yet missed to compile a comprehensive...     

The importance of individual differences for applicant attraction: a literature review and avenues for future research

This paper presents a systematic literature review of the research on individual differences on applicant attraction. After capturing the relevance of the research field, we analyze and operationalize different terms for applicant attraction. Our research shows that applicant attraction is a comprehensive term for (prospective) applicants’ perceptions, intentions, and behavior based on different stages of the recruitment process. We also analyze applied theories and frameworks on the basis of which we develop five broad categories that represent the applied theories and frameworks in research on individual differences on applicant attraction. To structure the broad variety of individual differences on applicant attraction, we develop a classification for individual differences. Based on the analysis we identified different avenues for future research. Beside theoretical and methodical research issues, gaps concerning applicant’s view of the recruitment process, a lack of research on specific individual differences as well as practice-oriented gaps are identified.     

HRM and Indian epistemologies: A review and avenues for future research

India is emerging as a super power, slated to be among the world's five largest economies and viewed by international investors, business conglomerates and tertiary education providers as a land of opportunity. A database search since the opening up of the Indian economy in 1991 reveals a slowly increasing number of scholarly articles on HRM, with a steep rise from the year 2000 onwards. While it is acknowledged that the field of HRM is a broad area, there is currently a dearth of research in specific HRM practices and policies in India to warrant a focus on only one area. Hence the primary objective of this article is to present a scholarly survey of important research literatures in the area of HRM in India, and to offer avenues for future research. To this end this article garners, integrates and discusses research on HRM in India with a focus primarily on the past fifteen years. It is within this complexity that research on India and its workforce is presented by illuminating HRM as embedded in the Indian environment with its intricate epistemologies and transitions in a period of dynamic change.     

The art of crafting a systematic literature review in entrepreneurship research

Systematic literature reviews are an increasingly used review methodology to synthesize the existing body of literature in a field. However, editors complain about a high number of desk rejections because of a lack in quality. Poorly developed review articles are not published because of a perceived lack of contribution to the field. Our article supports authors of standalone papers and graduate students in the Entrepreneurship domain to write contribution-focused systematic reviews e.g. by providing a concrete guideline. Our article analyzes the strengths and weaknesses of a systematic literature review and how they can be overcome. Furthermore, we provide a combined list of highly ranked journals in the Entrepreneurship domain as a basis for quality appraisal. Finally, this article builds a scenario for the future of the systematic literature review methodology and shows how technological improvements have changed this methodology and what can be achieved in the future.

     

Contextualizing employment outcomes in family business research: current findings and future research avenues

Management Review Quarterly - The empirical evidence of family business phenomenon in terms of employment outcomes is contradictory highlighting the micro–macro gap in the existing research....     

The determinants of startup valuation in the venture capital context: a systematic review and avenues for future research

Startup valuation in the venture capital (VC) context is often said to be more art than science. In view of this, it is particularly important to be aware of and understand the different underlying determinants that affect the valuation of startups. This paper conducts a systematic review of the existing empirical literature to illustrate the determinants of startup valuations in the VC context. Beyond that, the paper seeks to provide an organizing structure to the current literature as well as to detect academic voids and directions for future research. To achieve these goals, it develops an integrative framework for the factors determining startup valuations in the VC environment, which should be of use to both practitioners and researchers. That framework illustrates how startup valuations in the VC context are shaped by a three-sided interplay of factors related to startups, venture capitalists, and the external environment.     

Sport entrepreneurship: A synthesis of existing literature and future perspectives

International Entrepreneurship and Management Journal - Sport entrepreneurship is progressively emerging as an extremely significant stream of research. Accordingly, scholars are increasingly...     

Public Leadership: A review of the literature and framework for future research

Abstract

This study analyses and reviews the literature on public leadership with a novel combination of bibliometric methods. We detect four generic approaches to public leadership (i.e. a functionalist, a behavioural, a biographical and a reformist approach) which differ with regard to their philosophy of science (i.e. objective vs subjective) and level of analysis (i.e. micro-level vs multi-level). From our findings, we derive four directions for future research which involve shifting the focus from the aspect of ‘leadership’ to the element of ‘public’, from simplicity to complexity, from universalism to cultural relativism and from public leadership to public followership.     

Innovation and entrepreneurship in the academic setting: a systematic literature review

In the knowledge society, universities have assumed new missions and relations in order to contribute to economic and social development, while preserving their own sustainability. This article aims to explore scientific literature on innovation and entrepreneurship in the academic setting, describing how the field is organized, main terms and definitions, theoretical frameworks, and empirical models, in order to direct future research. A systematic literature review was conducted, in which articles indexed at Web of Science were initially submitted to a bibliometric analysis. Then, the content of a set of articles best fitting the objectives of the study was analyzed. Bibliometric analysis shows an increasing literature, with publications over more than 40 years. There are studies from many disciplines, with those in business and economics prevailing, mainly related to management and originating from the USA and Europe. Content analysis shows a fragmented literature, with definitions not showing a clear relationship between innovation and entrepreneurship, or their use within universities in coherence with their traditional definitions. Both theoretical frameworks and empirical models are very heterogeneous, but four groups of studies were identified based on their theoretical frameworks, and also based on their empirical models. With only a few exceptions, empirical models do not share many components and variables, and there are no clear boundaries between the different models. Despite the increasing literature, it is still fragmented and undertheorized, requiring more systematic and holistic studies, considering both the economic and the social aspects of innovation and entrepreneurship within universities.     

Entrepreneurship by immigrants: a review of existing literature and directions for future research

The topic of immigrant entrepreneurship has gained considerable attention in social and policy circles around the world. Likewise, research on it has grown significantly over the past few decades, with studies examining the micro-, meso-, and macro-level antecedents and consequences of this phenomenon. While contributing to our knowledge, this growth in literature has also created complexity within this domain. As such, there is a need to take stock of current research. In the present study, I advance in this direction. I delineate the boundaries and outline the contributions of immigrant entrepreneurship research to the field of entrepreneurship. Thereafter, based on a comprehensive review of 69 studies published between 1980 and 2016 in journals across multiple disciplines, I develop a framework to integrate findings within this domain. Finally, I identify gaps and advance suggestions for future research. It is hoped that these steps will provide a clear vision of common research ground on which to build theory, identify assumptions, develop meaningful research questions and establish the ontological and epistemological base of this domain.     

The legitimacy of corporate entrepreneurship: a structured literature review

Management Review Quarterly - Corporate entrepreneurship (CE) is essential for today’s firms and currently a topic of considerable interest within the business community. Although the...     

Correction to: Sport entrepreneurship: A synthesis of existing literature and future perspectives

International Entrepreneurship and Management Journal - The original version of this article was revised. The table below shows the incorrect and correct columns.     

Industry 4.0 and the circular economy: A literature review and recommendations for future research

Research regarding the Fourth Industrial Revolution (Industry 4.0) and the circular economy has gained traction since 2014. Paralleling the growth in the internet of things (IoT), the circular economy poses both risks and opportunities to various stakeholders in its development. This literature review aims to identify Industry 4.0 stakeholders' interests and expectations regarding how the IoT can be part of circular economy management. Contributions include identifying various IoT tools for dealing with circular economy challenges while also addressing implementation best practices. The transition of the circular economy within Industry 4.0 requires a better understanding of government, suppliers, international organizational interests, and expectations regarding the IoT. This study enables future research on circular economy practices and their potential sustainability benefits for manufacturing firms. This study's findings allow practitioners and researchers to understand the literature and critical elements of the transition toward a more circular economy.     

Creative reconstruction: a structured literature review of the early empirical research on the COVID-19 crisis and entrepreneurship

Management Review Quarterly - The COVID-19 crisis triggered by the novel coronavirus (SARS-CoV-2) and the infection control measures taken have extended beyond affecting health issues to impact...     

The state-of-the-art and future research directions in bequest fundraising by nonprofit organizations: A systematic literature review

The topic of fundraising is garnering increased attention from nonprofit practitioners due to the worldwide growth of the nonprofit sector and the subsequent competition for private funds. Despite this surge, academic literature on fundraising and bequest fundraising, in particular, has remained mainly limited to narrow aspects of the discipline. Based on a systematic review of literature published over the past 25 years, we synthesize various research perspectives into a comprehensive framework of studies linking the different issues highlighted by the authors. The purpose of this article is to consolidate the state of academic research on bequest fundraising by not-for-profit organizations. The literature review underscores how research efforts have not paid much attention to bequest fundraising from the NPO's perspective, although as it has become an increasingly important source of income for charitable organizations. The majority of studies focus on the Donor's perspective, striving to understand what drives the desire to leave a charitable bequest. The findings of the SLR show a gap in the knowledge of NPOs' internal mechanisms concerning the particular topic of charitable bequests; from these insights, the future research directions are proposed.     

Women in business: entrepreneurship, ethics and efficiency

This article begins by reviewing some of the main theoretical approaches to entrepreneurship. We then discuss the measures proposed in the literature to benefit women, facilitating reconciliation of work and family life and examining the view of authors who consider the negative effects of these measures. Finally, we contemplate situations where the measures benefiting women are based on economic or ethical reasons. This last section qualifies the universalist approach underlying work-family life reconciliation, describing the context for interaction between women and entrepreneurial activity.     

Measuring entrepreneurship at the country level: A review and research agenda

The measurement of entrepreneurial activity across national contexts is a relatively recent and under-represented area of study. There was very little research carried out for comparable indicators of entrepreneurship until the end of the 1990s, when the Global Entrepreneurship Monitor Consortium launched its annual surveys. In the last decade, other indexes and databases have been created, such as the EIM COMPENDIA database and the World Bank Group Entrepreneurship Survey dataset. The first objective of this paper is to review and analyse the existing entrepreneurship indexes with respect to their conceptual and methodological dimensions. This review shows that the conceptual foundations of most of the indexes are insufficiently developed. The second objective is to integrate and compare the indexes on 21 Organization for Economic Co-operation and Development countries for which complete data is available. Strong convergence was found between the indicators of venture creation, business ownership and growth, while noticeable divergences were observed between these indicators and those concerning innovation. This was further explored through cluster analysis, which indicated that the 21 sampled countries could be classified into three distinct entrepreneurial profiles. The paper concludes by offering research directions and debating the use of unitary or composite measures of entrepreneurship in comparison to the analysis of multiple dimensions as exemplified in this paper.