A Comparison of International and Domestic New Ventures

Differences between international new ventures (INVs) and domestic new ventures (DNVs) were examined using a sample of 214 IPO new ventures (ventures 6 years old or less). INVs were found to be significantly different on the basis of their entrepreneurial team experience, strategy, and industry structure. Specifically, the entrepreneurial team of INVs exhibited higher levels of previous international and industry experience. The strategies of INVs were more aggressive, and they operated in more channels of distribution than did DNVs. INVs competed on the basis of differentiation, placing greater emphasis on product innovation, quality, service, and marketing as strategic weapons. In addition, INVs were more likely than DNVs to operate in industries characterized by a high degree of global integration.     

Partner Selection for International Marketing and Distribution in Corporate New Ventures

The software industry offers numerous options for a firm to arrange its international marketing activities. Although a prominent way to enter the international market is through co-operation, there is a limited amount of research regarding partner selection. The purpose of this paper is to explore how entrepreneurial corporate new ventures use partners in their international marketing. A representative case study is used to illustrate the partner selection and evaluation process in the software industry. Our findings indicate that small entrepreneurial firms can and should use partners in their internationalization. However, a more analytical approach to their selection is needed.     

Strategic and Operational Determinants of Relationship Outcomes With New Venture Suppliers

While the vast majority of the supplier selection and development literature has focused on relationships between mature, established firms, significantly less attention has been paid to relationships between established firms and new, entrepreneurial ventures. This study addresses this important topic and, using an interdisciplinary lens, investigates the question of how established buying firms can work with new ventures to achieve desired relationship outcomes. Drawing on the literature from the disciplines of entrepreneurship and supply chain management, we propose a theoretical model that links buying firms' strategic orientation in supplier selection (innovation and cost in strategic supplier selection) and operational approach in supplier development (direct and indirect development of new venture suppliers) with new venture‐specific relationship outcomes (purchasing volume and realized innovations). The model's predictions are tested on cross‐sectional survey data from 136 buying firms. Our results contribute to the emerging research stream at the supply chain management–entrepreneurship interface and enhance the understanding of relationships between established firms and new ventures.     

Nascent Entrepreneurship Research: Achievements and Opportunities

This paper provides an overview of the articles contained in this issue, all of which were presented at a major research conference on nascent entrepreneurship hosted by the Centre for Entrepreneurship, Durham University UK in September 2005. It also sets the papers in their broader research context and identifies some of the achievements made and challenges faced by researchers in this relatively new field.     

创业过程中财富创造影响因素研究

财富创造是创业过程开展的目的,也是创业研究的焦点。为了洞悉影响财富创造的内在机理,揭示影响财富创造的更深层次的因素,本文围绕创业过程中作用于财富创造的机会、资源与战略,梳理和评述其对财富创造的影响;并在此基础上,通过进一步深化财富创造与三因素间内在逻辑关系的理解,构建出财富创造与影响因素间的逻辑关系模型。     

美国风险投资业发展及对我国的启示

美国作为世界第一经济大国的发展模式是值得分析和探讨的,美国风险投资对美国经济发展起到了促进作用,我国在大力发展风险投资事业时应借鉴美国的经验以及应采取相应的具体措施,以便使中国的风险投资事业尽快成为科技产业的“孵化器”,成为经济发展的驱动力。     

International commitment,post-entry growth and survival of international new ventures

This paper makes several contributions to the emerging literature on the post-entry behavior of international new ventures. Based on an extensive longitudinal data set, we investigate the dynamics of commitment, growth and survival of different types of newly internationalizing Belgian firms. Global start-ups have the highest initial and rapidly rising export commitment per market and are also more likely to continue exporting over time than geographically focused start-ups, and traditional staged exporters. However, global start-ups also display the highest failure rate. This high failure rate appears to result primarily from the ‘liability of newness’ and less from the added complexity associated with rapid and wide scope internationalization.     

Role of opportunity creation between reconfiguration and innovation: Insights from emerging market international new ventures

There exists a need to further examine capabilities that enable emerging market international new ventures (INVs) to create innovation offerings that drive performance. Although conceptual studies highlight the importance of reconfiguration capability towards innovation and performance, such relationships in the emerging market INV context require further empirical analysis. Moreover, there is a conflict in the literature as to whether reconfiguration capability supports innovation and performance directly or indirectly. As the pursuit of opportunities beyond domestic borders is central to INV research, opportunity creation is a key inquiry to advance our understanding of how reconfiguration capability facilitates innovation and performance in the emerging market INV context. Drawing on dynamic capabilities theory and creation theory, we empirically examine the interplay between reconfiguration capability, opportunity creation, innovation, and international performance. In addition, we study opportunity creation as a mediator between reconfiguration capability towards innovation and performance, respectively. The findings reveal reconfiguration capability does not directly support innovation but does shape innovation through opportunity creation. Reconfiguration capability directly supports performance objectives of emerging market INVs, and indirectly through opportunity creation.     

What Happens to Nascent Entrepreneurs? An Econometric Analysis of the PSED

abstract This article follows the progress of a large and nationally representative sample of American nascent entrepreneurs – identified in the initial interview of the Panel Study of Entrepreneurial Dynamics (PSED) – over the next 12 months of the panel. We develop a novel theoretical framework based on maximisation of expected utility and the value of waiting, and estimate it to reveal which personal and economic characteristics are associated with venture start-up – and which are associated with remaining a nascent entrepreneur, or giving up entirely. The value of waiting turns out to play a key role in helping us understand what happens to nascent entrepreneurs. We discuss the implications of our results for entrepreneurs, lenders, business start-up support agencies and policy-makers.*The authors would like to thank two anonymous referees, as well as participants at Imperial College, London; Palm Springs (USASBE 2005); Babson College (BKERC 2005); and Clemson University (2004 PSED Symposium) and in particular Tom Lumpkin and Kelly Shaver for helpful comments on an earlier draft. The usual disclaimer applies.     

新创科技企业技术来源对于技术收益的影响实证研究

科技发展和科技创业的兴起使得新创科技企业得到了长足的发展机会,新创科技企业技术来源对于技术收益具有显著作用。新创科技企业为对象,通过实证数据的多元统计分析,得到了技术来源对于技术收益的影响显著的结论。     

创业网络与新企业绩效:组织合法性的中介作用及其启示

基于整合制度理论与社会网络视角,从政治网络、投资者网络和顾客关系网络三个方面提出并检验组织合法性在创业网络与新企业绩效关系间的中介效应。基于209份新企业数据,通过多元回归方法对研究假设进行检验,结果显示:政治网络、投资者网络、顾客关系网络与组织合法性正相关;政治网络与新企业绩效关系不显著,投资者网络、顾客关系网络与新企业绩效正相关;组织合法性在顾客关系网络与新企业绩效关系间存在部分中介效应,在投资者网络与新企业绩效关系间存在完全中介效应。     

促进贵州省创业风险投资发展的政策思考

完善的法律法规制度是创业风险投资业得以顺利、规范发展的基本保障。通过对国内促进创业风险投资发展的相关政策分析,建议要加快贵州省创业风险投资业发展,贵州省应尽快出台相关促进贵州创业风险投资发展的政策,并提出了政策的具体内容。     

New Venture Internationalization from an Emergent Market: Unexpected Findings from Russia

This article offers new insights on determinants of degree and scope of new venture internationalization from emerging markets. We set our study by development of a theoretical framework and hypothesis integrating entrepreneur-, firm-, industry-, and institutional factors to be tested in the Russian empirical context. The results indicate that institutional factors have the strongest relationship with the degree and scope of internationalization in Russian NVs. However, contrary to our expectations and existing literature, entrepreneur-, firm-, and industry-related factors are not associated with new venture internationalization. These unexpected findings have motivated us to implement the second round of empirical research using qualitative approach. As an outcome, we were able to explain the underlying forces behind the inconsistencies in the survey results and to develop four puzzles that provide a foundation for the theoretical extension of new venture internationalization from emerging markets.     

International entrepreneurship in the post Covid world

How will the world look post Covid-19? What is the role of international entrepreneurship (IE) in this new world? This article attempts to answer these two questions. It highlights the changes caused by Covid and how they might affect the scope and types of international entrepreneurial activities in years to come. It also discusses how international entrepreneurs are likely to operate and shape the emerging world order. The article concludes by outlining the implications of these changes for IE scholarship, offering an agenda for future research.     

国际企业采购新模式

互联网技术的飞速发展,对企业的国际采购模式的创新有着巨大影响,无疑为目标的实现提供了最佳的途径和契机。企业传统采购方式向网络采购方式转型,应结合自身实际,科学选择自用采购、采购联盟以及中介采购网站等采购模式,从而保证大幅降低企业运营成本,提高企业利润,保证企业生产流程的顺利进行。同时,要加强管理,避免暗箱操作等灰色采购行为的发生。     

The business plan as a project: an evaluation of its predictive capability for business success

Although there is extensive research aimed at identifying the main success factors for new ventures, efforts directed at evaluating the real effect of the existence and quality of a business plan on a firm's survival chances have been limited. This study attempts to fill this gap by analyzing to what extent the quality of a business plan, measured according to its economic, financial and organizational viability, constitutes a good predictor of business survival; and how other variables related to the characteristics of the entrepreneur and the business can affect the predictive capability of the model under consideration. Hypotheses are tested using data collected from 2142 service firms. The results show that none of the three variables that evaluate business plan quality (economic, financial and organizational viability) seems to have a determining influence on survival chances. Adding essential characteristics related to the entrepreneur and the business (education and training, experience, kind of motivation, number of employees and start-up capital) does little to increase the model's predictive capabilities.     

International Entrepreneurship research (1989–2009): A domain ontology and thematic analysis

This article explores the domain of international entrepreneurship (IE) research by thematically mapping and assessing the intellectual territory of the field. Extant reviews show that the body of IE knowledge is growing, and while notable contributions towards theoretical and methodological integration are evident, the field is described as phenomenally based, potentially fragmented and suffering from theoretical paucity. Premising that IE is positioned at the nexus of internationalization and entrepreneurship where entrepreneurial behavior involves cross-border business activity, or is compared across countries, we identify 323 relevant journal articles published in the period 1989–2009. We inventory the domain of IE to provide a relevant and comprehensive organization of its research. This involves examining the subject matter of IE research, and inductively synthesizing and categorizing it into major themes and sub-themes. In so doing, we offer a reliable, ontologically constructed and practically useful resource. From this base, we discuss the phenomena, issues, inconsistencies and interim debates on which new theory in IE may be built and research may be conducted. We conclude that IE has several coherent thematic areas and is rich in potential for future research and theory development.     

Theoretical Foundations of an International Entrepreneurial Culture

The seeming absence of theoretical foundations in the international entrepreneurship (IE) field significantly accounts for the fragmentation of research in the area. We seek to address this deficiency through an exploration of the IE concept in the overall context in which it is embedded, namely organizational culture. We develop and discuss a conceptual framework of an International Entrepreneurial Culture, which consists of six interrelated dimensions: international market orientation, international learning orientation, international innovation propensity, international risk attitude, international networking orientation, and international motivation.     

Cautious International Entrepreneurs: The Case of the Mittelstand

This paper investigates the international entrepreneurial behaviour of Mittelstand firms (German small and medium sized enterprises). Analysis of a survey of the international marketing strategies of Mittelstand firms revealed three clusters of firms, two that had below and one above average international activities. None of the clusters displayed born global type of internationalisation processes. However, this does not mean that they adopt passive approaches to internationalisation. The results suggest that Mittelstand firms engage in entrepreneurial behaviour that is proactive and innovative but which is cautious, sequential, and risk adverse. The implications of this analysis for future research in the area of international entrepreneurship are considered.     

New venture adaptation in international markets: A goal orientation theory perspective

This study uses goal orientation theory to investigate why managers of international new ventures make adaptations to markets served, entry modes used, and the organization. We use the case method to identify the international adaptation behaviours of six new ventures and managers’ explanations regarding those adaptations. We infer two different profiles of managerial goal orientation. The goal orientation associated with proving one’s competence is common across managers, but firms only pursue international adaptation if their managers also hold a learning goal orientation. In contrast, if managers have the goal orientation associated with avoiding failure, firm-level adaptation is not apparent.