Switch or persevere? The effects of experience and metacognition on persistence decisions

This paper extends the scholarly understanding of entrepreneurial persistence decisions by identifying individual-level constructs that moderate which decision criteria have the most influence on entrepreneurs’ persistence decisions. Prior research demonstrates that contextual factors, such as feedback through adversity and the attractiveness of opportunities in an entrepreneur’s environment, determine whether or not an entrepreneur will persist with their current venture. We contribute to this literature by theoretically proposing and empirically testing how individual differences in entrepreneurial experience, metacognitive experience, and metacognitive knowledge moderate which aspects of environmental information entrepreneurs pay the most attention to when deciding whether or not to persist. We test our proposed model using a conjoint experiment that allows for monitoring actual persistence decisions of 124 entrepreneurs. Results suggest that metacognitive knowledge influences persistence decisions primarily through altering the impact that probability of expected outcomes associated with potential alternatives has on entrepreneurs’ persistence decisions. Furthermore, the results provide evidence that more experienced entrepreneurs weigh financial returns and switching costs more heavily when making persistence decisions.     

Entrepreneur political skill and new venture performance: Extending the social competence perspective

Research on the social competence perspective holds that since operating high performing new ventures is dependent on entrepreneurs’ ability to influence stakeholder actions, entrepreneur social competence is likely critically important to new venture performance. Using a sample of 163 entrepreneurs throughout the USA, we extend such research by examining the entrepreneur political skill new venture performance relationship. Our results suggest that political skill, which is the component of social competence which specifically assesses an individual's ability to influence other's actions within the business environment, is positively associated with new venture performance. Study results provide additional support for the social competence perspective.     

Determining the influence of national culture: insights into entrepreneurs’ collective identity and effectuation

While prior research demonstrates that an entrepreneur’s behavior and perceptions are essentially shaped by national culture, little is known about how cultural values impact effectual behavior among entrepreneurs. We outline a conceptual model of how entrepreneurs’ effectual behavior is shaped by collective identity under different levels of cultural conditioning (i.e., national cultural values). Based on a survey of 235 Thai and German entrepreneurs we analyze the impact of Hofstede’s cultural dimensions of power distance, individualism, masculinity, and long-term orientation on the relationship between collective identity and effectuation. Results show that national culture is dispositive for the causal effects of collective identity on effectual behavior. Our findings demonstrate that the entrepreneur’s effectual behavior differs due to their national cultural conditioning.

     

Intermediated mode of internationalization: new software ventures in Ireland and India

This paper longitudinally examines the relationship between the career reasons of nascent entrepreneurs, their growth preferences and subsequent growth achieved. The longitudinal design allows for examination and control of both survivorship and recall bias upon career reason and growth linkages. Substantial recall bias was observed in the career reasons of entrepreneurs, with the reported importance of self-realization and financial success, as explanations for entering venturing activity, being significantly lower when responses were obtained once the venture was operational. Consistent with economic motives, the importance that the entrepreneur places on financial success was a key determinant to explain cross-sectional differences in growth preferences of the entrepreneur, the intended size of the venture, and achieved growth. Further, the importance of financial success was robust to the use of both prospective and retrospective career reasons. While independence was the most important factor to explain the career choices of nascent entrepreneurs, independence was also found to be negatively associated with intended and achieved employment growth. Overall, the findings demonstrate that nascent entrepreneur career reasons for self-employment are not homogeneous, vary by growth intentions and preferences, and are associated with subsequent venture growth achieved.     

Aspiring,nascent and fledgling entrepreneurs: an investigation of the business start-up process

This study focuses on three different milestones in the business gestation process, i.e. becoming an aspiring entrepreneur, a nascent entrepreneur, and a founder of a fledgling new business. Moreover, this study uses a combination of both individual and regional (or environmental) factors in predicting individuals’ success or failure to reach each of these three milestones. Hypotheses are developed to test the effect that human and environmental resources have on the odds of reaching the different milestones in the business start-up process. The study is based on interviews of a representative sample of 9533 Norwegians aged 18 years or older. From this group, 197 respondents qualified as nascent entrepreneurs. These were subsequently interviewed in follow-up interviews conducted in 1996, 1997 and 1999. In addition, regional data at the municipality level is included to measure the available pool of environmental resources. The results indicate that entrepreneurial experience is the single most important factor for predicting the outcome of the business start-up process. Even though environmental resources play a role, human resources are generally found to be better predictors of the outcome of the business start-up process. Several important implications for policy-makers are presented.     

Random monitoring in financing relationships

This paper examines a financier’s optimal monitoring intensity in a multi-period financing relationship. We identify conditions under which the financier should sometimes misidentify the quality of an entrepreneur. Such an imperfect evaluation technology affects action choices by bad entrepreneurs. We first characterize the optimal monitoring intensity and show that it is one in which the investor monitors entrepreneurs randomly. Random monitoring in the first stage of a relationship induces bad entrepreneurs to reveal their intrinsic types. Second, because random monitoring reduces the share of bad entrepreneurs in the subsequent periods, we show that the financier can therefore realize substantial gains.     

The influence of perceived management skills and perceived gender discrimination in launch decisions by women entrepreneurs

Our study answers the call for a better understanding of female entrepreneurs in Morocco and the role families play in launch decisions. The purpose of this paper is to analyze the influence of perceived management skills and perceived gender discrimination in obtaining funds on women entrepreneurs’ propensity to start their businesses with or without family members. Drawing upon the family embeddedness and institutional economics theoretical frameworks, perceived high management capabilities are found to increase the likelihood that a female entrepreneur will set up her business with family members. However, when the entrepreneur perceives gender discrimination in obtaining funds, this will negatively moderate this relationship and will make it more likely that a woman will start her business alone or with nonrelatives. This research contributes to the literature by advancing knowledge of the socio-cultural factors, embedded in the family-oriented contextual framework, that affect women entrepreneurs’ ways of starting their businesses. Implications affecting the success of women-owned start-up businesses and public policy implications are discussed.     

Entrepreneurial Hustle: Navigating Uncertainty and Enrolling Venture Stakeholders through Urgent and Unorthodox Action

Entrepreneurs need to act under conditions of uncertainty and resource constraints to bring new, often-unrecognizable products to market and convince an unknown set of stakeholders to support their endeavours. The type of action entrepreneurs take to navigate uncertain entrepreneurial contexts is underspecified. We analysed 48 interviews with entrepreneurs to inductively identify an action-oriented construct we labelled as entrepreneurial hustle – an entrepreneur’s urgent, unorthodox actions that are intended to be useful in addressing immediate challenges and opportunities under conditions of uncertainty. In a follow-up study, we use an experimental vignette approach to assess the impact of an entrepreneur’s hustle on venture stakeholders. Findings suggest that entrepreneurial hustle positively influences stakeholder perceptions of the entrepreneur’s leadership effectiveness and a venture’s legitimacy, mediated by perceptions of the entrepreneur’s ability-based trustworthiness. We conclude that entrepreneurial hustle is a fundamental behaviour that enables entrepreneurs to enrol new venture stakeholders and lead their entrepreneurial efforts.     

包容型领导对员工即兴行为的影响:工作卷入的中介作用

员工即兴行为是企业应对外部环境动态性、复杂性和模糊性的有效抓手。虽已有研究对包容型领导和员工即兴行为之间的关系进行了探究,但目前对二者之间的作用机制知之甚少。论文从社会交换理论视角出发,基于458份问卷数据,实证了包容型领导与员工即兴行为的关系,研究结果表明:包容型领导正向影响员工即兴行为,工作卷入在包容型领导和员工即兴行为之间起部分中介作用,员工主动性人格正向调节包容型领导和工作卷入之间的关系。     

Driving factors for eco-innovation orientation: meeting sustainable growth in Tunisian agribusiness

The agricultural and agri-food sectors have substantial environmental impacts due to the great volumes of food, energy, water, and packaging waste that these businesses generate. Eco-innovations present an important opportunity to mitigate this effect. Even though eco-innovation seeks to reduce environmental damage in the food and agri-food sectors, researchers have paid slight attention to the role of eco-innovation in agribusiness; however, several insights suggest that it would be worthwhile to examine the motivation drivers toward the adoption of eco-innovations. The current study sheds light on the driving forces of eco-innovation and its impact on sustainable business growth. This paper tests a set of hypothesized relationships that focus on a sample of 306 Tunisian enterprises. We harness structural equation modelling to examine the relationship between the driving factors of eco-innovation and enterprises’ sustainable business growth by analysing the eco-innovation strategy's mediating effects. The findings reveal: (1) regulatory-side drivers constitute the most influential factor that motivates entrepreneurs to adopt an eco-innovation strategy, (2) there is a positive relationship between eco-innovation strategy and enterprises’ sustainable business growth, and (3) eco-innovation strategy plays a fully mediating role between the driving factors and enterprises’ sustainable business growth. The present study led us to consider that an entrepreneur with an emotional attachment to the environment is designed as a decisive driver for eco-innovation.

     

Entrepreneurship in transitional economy

This paper explores the relationship among socio-political culture and the economic environment. It places the entrepreneur at the forefront of the Transitional Economy and identifies the entrepreneur as a catalyst for change and progress. Within wider world changes, this discussion and interrogation of entrepreneurial development in the Transitional Economy provides new knowledge from the perspective of both the authors and the perceptions of 638 respondents who contributed to the research. The concluding model makes explicit that the constructs Freedom and History serve as moderators for entrepreneurial development in the Transitional Economy and suggests that the strength of an individual is created by societal construct. The progress of entrepreneurs is enhanced where there is political and economic freedom to operate, informed by historical knowledge.     

基于企业家创新的集群企业电子商务产生机理研究——以浙江省产业集群为例

具有创新特性的企业家一般更为倾向于在本企业采用创新事物,集群企业电子商务产生的一种重要模式就是基于企业家创新而来的。企业家的这种创新特性表现为企业家的创新精神、企业家掌握的电子商务知识以及企业家对采用电子商务的态度。同时,基于企业家创新的集群企业电子商务产生过程还受到客户、政府部门、信息技术服务商等外在因素的影响。     

基于AHP方法的企业家人力资本选择模型研究

企业家人力资本是企业发展的核心推动力,企业家人力资本类型与企业核心能力的构建具有内在的匹配性。企业家人力资本选择的核心在于根据企业家所拥有的知识资本、社会资本和精神资本等因素,选择出合适的企业家类型。本文采用AHP方法作为甄选企业家人力资本的选择方法,使得选择在定量化分析的基础上具有科学性,充分发挥企业家人力资本的作用。     

Improvised internationalization in new ventures: The role of prior knowledge and networks

How do entrepreneurs identify foreign market opportunities and how do they identify foreign market(s) and customers? We draw on the concepts of effectuation, improvisation, prior knowledge and networks to study the early internationalization of new ventures operating in the Irish Shellfish sector. We argue that the internationalization process was strongly influenced by two ‘resources to hand’: the entrepreneurs’ idiosyncratic prior knowledge and their prior social and business ties. We observe an effectuation logic and extensive improvisation in the internationalization process of these new ventures.     

Identity work of science-based entrepreneurs in Finland and in Russia

Abstract

This paper investigates the identity work of science-based entrepreneurs in two very different country contexts: Finland and Russia. Building on the literature investigating role identities, we first analyse the identification of individuals with the roles of a scientist and an entrepreneur; and second, how individuals manage the boundary between these two roles. Methodologically, we take a narrative approach, which regards life stories as identity constructions. Our empirical data consist of 23 biographical interviews with science-based entrepreneurs that are inductively analysed. Our findings show that the Russian informants considered being a scientist a salient part of their self-identification, distanced themselves from the role of an entrepreneur, and set discursive boundaries to segment the two roles. For the Finnish informants, identification with the professional roles as a scientist or as an entrepreneur was less salient for the personal identity as they make a clear distinction between ‘what one does’ and ‘who one is’. They also view the two roles as integrated rather than segmented, and have no significant need to justify the border-crossing between them. Our contribution is in demonstrating how science-based entrepreneurs’ identity work is influenced by importance and meanings attached to different work roles, and how these are contextualised.     

Incidence of teams in the firms owned by serial,portfolio and first-time entrepreneurs

This study focused on the prevalence of teams in the firms owned by habitual and first-time entrepreneurs. Most team-oriented studies in the field of entrepreneurship have rather focused on entrepreneurial than management teams. In this study, we extend the prior research by linking management teams to the discussion and by paying attention a previous closure experience of an entrepreneur. The research revealed that management teams were more common in the firms owned by habitual than first-time entrepreneurs. Correspondingly, there were more solo entrepreneurs among the first-time entrepreneurs. The results also suggest that a closure experience decrease the probability of solo entrepreneurship.     

谁是最佳创业导师?

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The influence of individual characteristics on getting involved in an entrepreneurial team: The contingent role of individualism

International Entrepreneurship and Management Journal - A traditional stereotype of the entrepreneur is that of a lone hero. However, many entrepreneurs engage in new businesses as members of...     

The booster function and the entrepreneurial quality: an application to the province of Seville

The objectives of this paper are two-fold. First, to elaborate a theoretical model that shows the characteristics of an entrepreneur of quality and the factors that influence them. Second, to apply the model to entrepreneurs in the province of Seville, one of the least developed areas in the European Union. The purpose is to show the importance of entrepreneurship for business success and, more importantly, in economic development. In summary, the model shows that entrepreneurs of quality possess an intrinsic motivation and, as consequence of this, they adopt some energizer behaviours, such as the capacity for innovation, ambition and co-operation with others. The model also takes into account factors that influence these characteristics, including the personal context of the entrepreneur, such as experience, education and family, and the global context, such as productive opportunities, socio-cultural factors and political-institutional factors. In the analysis of the entrepreneurs of Seville, the paper mainly focuses on the motivation and the energizer behaviours and their interdependence. The empirical findings indicate that the model is valid.     

Debt renegotiation under reputation concerns and tolerance for failure

We propose a career concern model where a privately informed entrepreneur reports the firm financial situation. On this basis, the creditor may offer debt renegotiation. Due to reputation concerns, the entrepreneur may feel reluctant to restructure and may manipulate information. We analyze how creditor attitude towards failure and entrepreneurs reputation concerns interact and influence the restructuring decision. We show that debt renegotiation under more lenient conditions discourages manipulation because entrepreneurs are ensured that their reputation will not suffer from revealing financial difficulties. Intolerant creditors make entrepreneurs more concerned about reputation weakening their incentives to restructure, leading to inefficient continuation of investments.