Diana: a symbol of women entrepreneurs’ hunt for knowledge,money, and the rewards of entrepreneurship

This article discusses the questions and issues that prompted the founding of the Diana Project, a multi-university research program aimed at identifying factors that support and enable high growth in women-led ventures. Despite the fact that women business owners comprise a significant portion of the economy, women face challenges in acquiring the resources needed to expand their businesses. This article details both the myths and realities associated with women’s entrepreneurship in their quest for growth. In particular, we examine the strategies that women entrepreneurs use to position their firms for growth, especially those strategies related to growth capital. Our results show that women seeking venture capital (VC) have degrees, graduate degrees, and experience that should not preclude them from obtaining financing. We also found that even though women-led businesses are frequently clustered in industries less attractive to financiers, women seeking equity funding are in the appropriate industries. Further, women spend a considerable amount of time using both formal and informal networks in their search for capital and in seeking capital. Because of the importance of the VC industry as a provider of growth capital and its reliance on its network for investment referrals, we also examined the participation and role of women as decision-makers in industry. Women’s participation in the VC industry has not kept pace with industry growth, and women have exited the industry at a faster rate than men, thus creating a significant barrier for women entrepreneurs in that it is less likely that their networks will overlap with the financial supplier networks, despite any effort they may expend networking and seeking capital.

Are the self-employed really jacks-of-all-trades? Testing the assumptions and implications of Lazear’s theory of entrepreneurship with German data

Using a large representative German data set and various concepts of self-employment, this paper tests the “jack-of-all-trades” view of entrepreneurship by Lazear (Am Econ Rev 94(2): 208–211, 2004). Consistent with its theoretical assumptions we find that self-employed individuals perform more tasks and that their work requires more skills than that of paid employees. In contrast to Lazear’s assumptions, however, self-employed individuals do not just need more basic but also more expert skills than employees. Our results also provide rather limited support for the idea that human capital investment patterns differ between those who become self-employed and those ending up in paid employment.     

The impact of influencers' multi-SNS use on followers’ behavioral intentions: An integration of cue consistency theory and social identity theory

The considerable marketing potential brought by the rapid growth of social media has been extensively examined in the literature, particularly in terms of the impact of influencers' recommendations on their followers' decisions. However, little attention has been given to how the individual influencers' use of multiple social networking sites affects their followers' behavioral intentions. Hence, this academic gap warrants further exploration. Drawing on cue consistency theory, social identity theory, and stimulus-organism-response framework, this research proposes three research questions and constructs an integrated research model to explore how the influencers' cue consistency affects the social identification of their followers, subsequently influencing their behavioral intentions. A structural equation modeling technique is performed to analyze the data of 510 valid respondents. The findings show that influencers' consistent cues (i.e., information and image consistency) across social media have positive impacts on followers' cognitive and affective identification toward the influencers. Furthermore, the determinants for followers' purchase intention and electronic word-of-mouth intention are affirmed to serve as both cognitive and affective identification. Especially, the results indicate that the relationships between followers’ social identifications and behavioral intentions are moderated by the type of influencer (i.e., lifestyle vs. review). Accordingly, the results indicate how the use of multiple social networking sites by influencers impacts the behavioral intentions of their followers. The findings offer new insights into influencer marketing and provide important lessons for marketers.     

Identity and entrepreneurship: do school peers shape entrepreneurial intentions?

We incorporate the concept of social identity into entrepreneurship and analyze the determinants of having entrepreneurial intentions. We argue that an entrepreneurial identity results from an individual’s socialization. This could be parental influence but, as argued in this paper, also peer influence. Based on Programme for International Student Assessment (PISA) 2006 data in which students report their entrepreneurial intentions at the age of 15, we find that having an entrepreneurial peer group has a positive effect on an individual’s entrepreneurial intentions. We find that the strength of the peer effect in a country is moderated by prevailing values, namely individualism.     

Varieties of entrepreneurship: exploring the institutional foundations of different entrepreneurship types through ‘Varieties-of-Capitalism’ arguments

While entrepreneurship researchers agree that institutions ‘matter’ for entrepreneurship, they also have a rather encompassing understanding of institutions as almost any external factor that influences entrepreneurship. Ultimately, this literature thus comes up with a long list of institutional factors that may explain entrepreneurial differences between countries. But which institutions are most influential? How do these institutions relate to different types of entrepreneurship? And to what extent are institutions complementary to each other in the way they sustain different entrepreneurship types? The literature on ‘Varieties-of-Capitalism’ (VoC) offers a parsimonious theoretical framework to address these questions. Based on the VoC literature, we theoretically derive a consistent set of institutional indicators that can explain differences in entrepreneurship types between countries. Based on principal component and cluster analyses, we illustrate how 21 Western developed economies cluster around four distinct institutional settings. Furthermore, we use simple OLS regressions to show how these institutional constellations are related to different types of entrepreneurship. We conclude that four different ‘Varieties of Entrepreneurship’ can be identified across the Western world. The main implication of our findings is that a ‘perfect’ institutional constellation, equally facilitating different types of entrepreneurship, does not exist. Policy-makers seeking to stimulate entrepreneurship are thus faced with the trade-off of targeting policy reforms to that entrepreneurship type they intend to promote—at the expense of other types of entrepreneurship and the broader societal consequences such reforms will have.     

The effects of subsidiary’s leadership and entrepreneurship on international marketing knowledge transfer and new product development

This study investigates the role of a strong subsidiary leadership and entrepreneurial culture in the promotion of marketing knowledge inflows. We further examine their consequences on the subsidiary’s ability to develop new products when moderated by the tacitness of knowledge. The data were collected from 202 Portuguese subsidiaries of multinational corporations and were analyzed using partial least squares structural equation modelling to test the hypotheses. The results indicate that subsidiaries’ strong leadership support and entrepreneurial culture are fundamental mechanisms that foster marketing knowledge inflows from both the headquarters and peer subsidiaries. Moreover, marketing knowledge inflows enhance the focal subsidiary’s innovation abilities. We also find that tacit knowledge exerts contradictory moderating effects on the transfers of marketing knowledge, carrying distinct implications for a subsidiary’s knowledge management. The results expand our understanding of the effectiveness of transferring marketing knowledge among multinational corporations’ (MNCs) subsidiaries.     

Triple-testing the quality of multinationality–performance research: An internalization theory perspective

The international business literature has suggested various linkages between multinationality (M) and performance (P). A number of authors have recently put forward an S-shaped curve, allegedly describing a generalized MP relationship. However, internalization theory, in line with Buckley and Casson (Buckley, P.J., & Casson M. (1976). The future of the multinational enterprise. Macmillan: London) and Hennart (Hennart, J. F. (1982). A theory of multinational enterprise. Ann Arbor, University of Michigan Press; Hennart, J. F. (2007). The theoretical rationale for a multinationality–performance relationship, Management International Review, 47(3), 423–452), challenges the concept itself of such a generalized relationship between these two parameters. This paper adopts an internalization theory perspective, meant to improve the design of MP studies, and cautions against assuming too quickly a generalized MP relationship. In line with internalization theory, we argue that firm-level performance depends primarily on the characteristics of the companies’ firm specific advantages (FSAs) rather than on their degree of multinationality. We propose triple-testing the quality of MP studies, by assessing how well they address the various challenges related to conceptualizing and measuring M, P and the MP relationship itself.     

Retail entrepreneurs’ exit intentions: Influence and mediations of personality and job-related factors

In this study we investigate retail entrepreneurs' exit intentions by focusing on their job satisfaction, job-related stress, customer orientation, and dispositional optimism. We develop and test four hypotheses with structural equation modelling on a sample of 365 retail entrepreneurs. Our results indicate that dispositional optimism is a substantial driver of retail entrepreneurs’ customer orientation and job satisfaction. Dispositional optimism also decreases their job-related stress. We also find that both customer orientation and job-related stress mediate the relationship between dispositional optimism and job satisfaction prior to exit intentions. Finally, we found that job satisfaction has a mediating effect on the relationship between job-related stress and exit intentions.     

Broadening the concept of international entrepreneurship: ‘Consumers as International Entrepreneurs’

We integrate theories from international business, entrepreneurship, innovation, marketing and network economics to develop a four-part typology of ‘consumers as international entrepreneurs’. This broadens the concept of international entrepreneurship and complements the firm-level focus customary in research on international new ventures and entrepreneurs within those ventures. We develop our arguments in the context of the new economy and discuss areas for investigation in this emerging area of inquiry.     

Antecedents to purchase intentions for Hispanic consumers: a ‘local’ perspective

The current study explores consumer attributes such as attitudes, subjective norms, connectedness, and price consciousness and their relationship with purchase intentions of Hispanic shoppers within the locally produced food category. Four hypothesized direct-path relationships and one moderation effect across the four proposed paths were tested via a two-step process in structural equations modeling. Results of measurement model testing suggested that a five-factor model fits well for the Hispanic group. Within the structural model process, a significant positive relationship was found between two proposed paths: consumer attitudes with intention to purchase and price consciousness with intention to purchase. A moderation effect of perceived product availability was found only for the path of price consciousness with intention to purchase. These results suggest that factors such as subject norms and connectedness, often associated with the local food category, may not be important drivers for purchase intentions for the Hispanic food shopper in retail grocery channels. However, other factors relating to attitudes, price consciousness, and product availability may be more salient. From this exploration, implications for marketers are provided and future research directions suggested.     

Determinants of muslim consumers’ Halal meat consumption: applying and extending the theory of planned behavior

The purpose of this study is to investigate the determinants of Halal meat consumption within Turkish Muslim immigrants in Germany using the theory of planned behavior (TPB) as a conceptual framework. The role of self-identity as a Muslim, dietary acculturation in the host culture, moral obligation to purchase Halal meat, and trust on the authenticity of Halal meat is explored. A quantitative research methodology using an online questionnaire survey was used. Cross-sectional data were collected through a survey of 464 Muslims originating from Turkey and currently living in Germany. A positive personal attitude toward the consumption of Halal meat, motivation to comply others, the perceived control over consuming Halal meat, and the availability of Halal meat predict the intention to eat Halal meat among Muslims. This study is one of the few studies investigating the determinants of Halal meat consumption in a Muslim population in Germany using the TPB within a food, religion, and migration context.     

User acceptance of ‘near field communication’ mobile phone service: an investigation based on the ‘unified theory of acceptance and use of technology’ model

Near-field communication (NFC) is a technology with service applications that include location-based service, mobile payment, peer gaming, and targeted advertising. Using the unified theory of acceptance and use of technology model, this study explores the factors that affect consumer acceptance of mobile phones with built-in NFC capability. The results indicate that Effort Expectancy has a positive effect on Performance Expectancy. Also, Performance Expectancy and Social Influence have a positive effect on Attitude Toward Use of Technology, but Anxiety has a negative effect on it. Finally, Attitude Toward Use of Technology is more significant than Facilitating Conditions in affecting Behavioral Intention.     

Plural forms and dual distribution: the “external” party’s perspective and the role of path dependency

Marketing Letters - Increasingly, marketing activity takes place within complex organizational structures. One example of this is the so-called 'plural forms’ structure, where a buyer and...     

Foreign direct investment and entrepreneurship: Does the role of institutions matter?

Development economics, international business, and entrepreneurship literature suggest that foreign direct investment (FDI) has significant positive spillover effects for entrepreneurial activities of host economies. However, the findings of past research are mixed, and they do not always confirm this suggestion. We argue that the reason for conflicting findings may be because of an incomplete understanding of the factors that influence the FDI-entrepreneurship nexus in different contexts. Previous studies have carried out only limited exploration of the contingencies in the FDI and domestic entrepreneurship relationship that may depend on the host country’s institutional capacity. We argue that not all countries can reap the rewards from FDI equally. Rather, we hypothesize that countries need to have a sufficient degree of institutional capacity relevant to specific conditions and appropriate threshold levels to successfully capture the positive spillover effects of FDI on domestic entrepreneurship. Utilizing panel data from 2006 to 2016 for 97 emerging markets, developing and developed countries (at different income levels), and a System Generalized Method of Moments (SGMM) estimator that controls for instrument proliferation in dealing with endogeneity problems, we test this hypothesis. We find that FDI has a negative (crowding-out) effect on domestic entrepreneurship at below-threshold levels of institutional capacity, and a positive (crowding-in) effect at above-threshold levels of institutional capacity. The crowding-out effect diminishes as the institutional capacity changes or improves to meet mutating economic environment conditions. Our findings are robust across a wide range of aggregate and disaggregate measures of different types of institutions and alternative empirical strategies.     

The effect of the servicescape on customers’ behavioral intentions in an international airport service environment

This study was conducted to identify the constructs of an international airport servicescape and to assess the relationships among the servicescape of an international airport, emotional states, and behavioral intentions. The constructs of an international airport servicescape are identified as the ambient factor, functional factor, esthetic factor, safety factor, and social factor. The results of this study showed that functional factor, esthetic factor, safety factor, and social factor influence customers?? positive emotions, whereas the ambient factor and social factor affect customers?? negative emotions. Positive emotions, but not negative emotions, were shown to have a significant impact on behavioral intentions. Limitations and suggestions for future studies were addressed.     

New insights in Peer-to-Peer carsharing and ridesharing participation intentions: Evidence from the “provider-user” perspective

Carsharing services (CS) and ridesharing are gaining popularity worldwide through Peer-to-Peer (P2P) platforms, which appear to gradually complement or replace conventional CS business.This empirical study investigates the participation intentions in P2P shared mobility services accounting for different statuses people may adopt: provider and/or user. The analysis of a large car owner survey in three major European capitals indicates that these participation decisions are driven by common latent preferences and, people who are more prone to become a peer provider are more likely to use the P2P shared mobility service (and vice versa). The results also reveal the role of individual values such as possession self-link, individualism, and environmentalism in the decision to join a P2P shared mobility platform. Furthermore, our study shows how provider/user status may affect the participation intentions process in the urban population.     

Women’s entrepreneurship policy research: a 30-year review of the evidence

Small Business Economics - This paper focuses on women’s entrepreneurship policy as a core component of the entrepreneurial ecosystem. We use a systematic literature review (SLR) approach to...     

Celebrity endorsements: Investigating the interactive effects of internalization,identification and product type on consumers’ attitudes and intentions

In line with Kang and Herr's work (2006), this research questions the ELM's contention that celebrity credibility serves foremost as a peripheral element in a persuasive communication context. Nevertheless, in a different light to the Kang and Herr's ‘either-central-or-peripheral-role’ of a source characteristic, this research advances that celebrity credibility plays concomitantly central and peripheral roles in a persuasive message context depending on product involvement and brand-purchase motive. Particularly, this research uses the notions of ‘source internalization’ and ‘source identification’ (Kelman, 1961) to theorize that source credibility can have a concomitant dual role (peripheral and central) in a persuasion context. More precisely, this research investigates the interactive effects of source identification and internalization with product involvement as well as brand-purchase motives on consumers' attitudes and intentions. Source internalization is predicted to have persuasive effects in the contexts of high-involvement as well as informational products. Source identification is predicted to have persuasive effects in the context of low-involvement as well as transformational products. The findings of two experiments show that celebrity credibility acts through only a single route (i.e., only internalization has persuasive effects) uniformly across different product involvement levels and brand-purchase motive types. We interpret these results with the lens of the ‘match-up’ hypothesis (Kamins, 1990).     

Protection of diffuse interests in the EEC and the perspective of “progressively establishing” an internal market

Present Community action and law is characterised by a conflict between market integration, protection of diffuse interests, and the rule-of-law principle. Community law first concentrated on negative integration which created and protected traders' freedom of market access and workers' freedom of circulation. By Court practice, these freedoms were developed into a basic right of EEC citizens to move freely within the EEC and to satisfy their demands wherever they wanted. Positive integration tried to establish common protective standards in matters relating to the environment, consumer protection, health care, and equal rights. The Single Act, ratified in 1987, amended the EEC Treaty by the objective of completing the internal market by the end of 1992. These provisions can only to a limited extent be said to have a direct effect. Positive integration has been reinforced by provisions on environmental and health policy. In his concluding remarks, the author insists on the need for an overall expansion of protective standards within the EEC in spite of tendencies towards a mere free trade approach.

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Zusammenfassung Die gegenwärtigen Aktivitäten der Gemeinschaft sowie das europäische Wirtschaftsrecht sind von einer komplexen Spannungslage zwischen Marktintegration, Schutz diffuser Interessen (Umweltschutz, Verbraucherschutz usw.) und rechtsstaatlich-demokratischen Anforderungen beherrscht. Zunächst konzentrierte sich das Gemeinschaftsrecht auf Maßnahmen der sog. Negativintegration, um dem Marktbürger Zugang zu dem Gemeinsamen Markt und Arbeitnehmern Zirkulationsfreiheit zu gewährleisten. Die Praxis des Gerichtshofes der EG hat diese Marktfreiheiten zu grundrechtsähnlichen Gewährleistungen aller Bürger i.S. einer Entscheidungs- und Aufenthaltsfreiheit ausgebaut. Die Positivintegration versuchte, gemeinsame Schutzstandards in den Bereichen Gleichbehandlung, Umwelt, Gesundheit und Verbraucherschutz durch sekundäres Gemeinschaftsrecht zu schaffen. Die 1987 ratifizierte Einheitliche Europäische Akte hat das Ziel der Gemeinschaft festgeschrieben, bis Ende 1992 den Binnenmarkt als Raum ohne Binnengrenzen zu verwirklichen.Die unmittelbare Wirkung dieser Vorschriften bleibt allerdings fraglich. Die Positivintegration ist durch Kompetenzen im Bereich Umwelt- und Gesundheitsschutz abgesichert worden. In einer Schlußbetrachtung wird auf die Notwendigkeit EG-einheitlicher Schutzstandards ungeachtet des Vorherrschens von Freihandelsvorstellungen hingewiesen.

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Norbert Reich is Professor of Civil Law, Commercial Law and European Legal Policy at the University of Bremen and Managing Director of the Centre for European Legal Policy, Universitätsallee GW 1, D-2800 Bremen 33, FRG.The article is based on a speech at the University of Helsinki on May 20, 1988, and was previously published in the Finnish legal journal Juridiska Föreningens Tidskrift. The author thanks his Finnish colleague Thomas Wilhelmsson, University of Helsinki, for stimulating discussions of previous drafts and for allowing publication in JCP.     

“Social credit effect” in a sharing economy: A theory of mind and prisoner's dilemma game theory perspective on the two-way review and rating system

Using random samples, we conducted three studies to explore the relationships among interpersonal mentalizing in predicting future sharing economy service usage. The primary focus of this research was to examine Uber passengers' theory of mind in a broader theoretical base of human abilities. The results confirm the dimensions of interpersonal mentalizing such as their experience with the sharing economy service and their current star ratings from the Uber driver. In addition, this study confirms that the dimensions of interpersonal mentalizing are dependent on the situation and the ratings they received from the Uber driver. In extreme rating situations (1-star rating), interpersonal dimensions did not have an effect on their negative beliefs about the two-way evaluation system. However, with moderate (3-star) and high ratings (4.75 and above star rating), the interpersonal dimensions such as nonverbal cues and the ability to shape behaviors and interactions serve as determinants of Uber passengers' belief in the evaluation system, which then leads to their future usage of the sharing economy services. In sum, these findings shed light on the complementary role of the autonomous abilities of Uber passengers to improve their star ratings, which then leads to their future usage of sharing economy services.