The Influence of Funding Approaches,Growth Expectations,and Industry Gender Distribution on High‐Growth Women Entrepreneurs

This study examines three key aspects of entrepreneurship associated with women business owners and their ability to achieve high growth: debt versus equity financing, growth expectations, and industry gender distribution. We present a number of theoretical lenses spanning disciplines such as gender studies, entrepreneurship, social psychology, and finance. Using longitudinal data from U.S. startups over an eight‐year period, our research reveals a number of interesting findings. We find that, proportionally, high‐growth women entrepreneurs are more likely to finance their growth with personal and business equity funding. Additionally, women‐owned firms in “feminine industries” are more likely to achieve high growth than women‐owned firms in “non‐feminine industries.”     

Gender Characterizations in Entrepreneurship: A Multi‐Level Investigation of Sex‐Role Stereotypes about High‐Growth,Commercial, and Social Entrepreneurs

The purpose of this study is to cast new light on possible gender biases in implicit theories people hold about various forms of entrepreneurial activity. Using social role theory, we delve into sex‐role stereotypes associated with high‐ and low‐growth entrepreneurship and commercial and social entrepreneurship. Predictions were tested with an experimental design using both a between‐subject design to capture group‐level stereotypes and a within‐subject design to capture individual‐level stereotypes. Findings reveal that commercial and high‐growth entrepreneurs are perceived as more similar to men than to women and higher on agency than communality. Conversely, low‐growth entrepreneurs are perceived as more similar to women than men, and higher on communality than agency. Social entrepreneurs are uniquely perceived as similar to both men and women, though they are also considered higher on agency than communality. Interestingly, female, but not male respondents, perceive some overlap between the feminine gender role and high‐growth and commercial entrepreneurship. Notably, those higher on modern sexism perceive less overlap between entrepreneurship and femininity. Taken together, our results suggest that commercial high‐growth entrepreneurship is most strongly male‐typed, which is likely to be problematic for women (and non‐traditional men) wanting to start growth‐oriented ventures. Implications and directions for future research are discussed.     

A High‐Growth Firm Contingency Test of the Formalization‐Performance Relationship

The effect of formalization in high‐growth firms' performance is still unclear. We propose that formal commitment‐based human resource practices contribute positively to the financial performance of established high‐growth firms but have little effect on emergent ones. Using a sample of 101 Portuguese high‐growth firms (2006–2009 period), we tested the effect of formal HR practices during the high‐growth period in their financial results two years later (2011). Our results suggest that adopting a formal performance appraisal and a formal R&D function contributed positively for the performance of only established firms, while adopting a formal training activity negatively affected the performance of only emergent firms.     

Growth Intentions and Board Composition in High‐Growth Firms

This paper examines the influence of board composition on growth intentions of high‐growth firms. We hypothesize that gender diversity and a high proportion of independent directors on the board will reduce a firm's growth intentions, whereas founder duality will increase a firm's growth intentions. Using survey data from 773 high‐growth Norwegian firms, we find that gender diversity has a negative effect on growth intentions. A high proportion of independent directors do not facilitate further growth in high‐growth firms. Furthermore, our results indicate that the founder's presence in the decision‐making group increases a firm's growth intentions.     

Start‐up Motivations and Growth Intentions of Minority Nascent Entrepreneurs

Firm growth is widely considered to be a measure of success for entrepreneurial businesses. Data indicate that there are systematic differences between minority and nonminority‐owned firms with respect to growth. Black entrepreneurs are 50 percent more likely to engage in start‐up activities than white entrepreneurs, however, black‐owned firms are smaller and less profitable than their white‐owned counterparts. Following the effort–performance–outcome–logic of expectancy theory and using data from the Panel Study of Entrepreneurial Dynamics (PSED), our paper investigates the differences between black and white entrepreneurs' motivations to start and intentions to grow a new venture. Findings indicate that there are significant differences in motivations between black and white entrepreneurs both in starting and in their intentions to grow the new venture. Implications for future research are discussed.     

To Your Health: Health Insurance,Self‐Employment Exit,and Older Entrepreneurs

Drawing on a sample of 5,238 individuals in the Health and Retirement Study, we examined the relationship between having one's own health insurance and exit from self‐employment to employment. Our results indicate that individuals who have health insurance are less likely to exit self‐employment. When self‐employed individuals have their own health insurance, males, relative to females, are more likely to exit self‐employment. Additionally, when self‐employed individuals have their own health insurance, those who do not have health problems that limit work are more likely to exit. We discuss the implications that these findings have on the literature and policymakers.     

Gender‐based perceptions of equity in China's state‐owned enterprises

Despite the emphasis on equality in China's state‐owned enterprises, analysis of data collected from 900 Chinese in 10 state‐owned enterprises indicated that statistically significant pay differences exist between male and female employees. However, differences between male and female employees' perceptions of equity in these enterprises were found to be statistically significant only among those employees with fewer years of work experience and those with lower levels of technical skills. Perceptions of equity were also found to be related to the job satisfaction of both male and female employees. These results are discussed within the context of the Maoist ideology of egalitarianism and the post‐Tiananmen movement toward the forging of links between employee compensation and performance. © 2002 Wiley Periodicals, Inc.     

Having Arrived: The Homogeneity of High‐Growth Small Firms*

This study explores the homogeneity of small firms that have achieved and sustained high growth. Using a recent population of the 50 “Best Managed” Canadian firms identified as achieving high business growth for three or more consecutive years, firm homogeneity in terms of current management challenges is analyzed. In contrast to the rich body of literature available regarding the heterogeneity of managerial challenges and patterns during small business growth and development, this study finds that once small businesses begin to sustain high growth, their reported management challenges converge. We find that, controlling for location and performance, the high‐growth small firms in our population experience similar management challenges regardless of the specific firm size, revenue level, or industry. Our results challenge the “received wisdom” that suggests the managerial challenges faced by small firms during their business growth and development always vary. Management implications and future research directions are discussed.     

Picture–Text Incongruency in Print Advertisements among Low‐ and High‐Literacy Consumers

While low‐literacy consumers rely heavily on pictorial information when making market‐based decisions, they also do attempt to read relevant information. When the advertisement picture and text are aligned, so too should be the conclusions low‐literacy consumers draw. We ask what happens when the pictures and accompanying text are incongruent. Results of an experiment indicate that low‐literacy consumers misinterpreted an advertisement with text–picture incongruity more regularly than did high‐literacy consumers. Furthermore, low‐literacy consumers demonstrated errors in comprehension that reflect picture‐based processing. However, despite comprehension differences between low‐ and high‐literacy consumers, attitudes toward the advertisement did not differ.     

A Personality‐Competence Model of Opinion Leadership

Opinion leaders constitute a central consumer segment for targeted marketing strategies. By separating opinion leadership into a generalized and domain‐specific component, this study examines the psychological profile of N = 417 consumers from Germany and incorporates opinion leadership into a hierarchical framework of human personality. Results emphasize two major sources of domain‐specific opinion leadership (DSOL): personality in the form of a general, domain‐independent influencer trait and competencies in terms of product‐specific knowledge. Moreover, the study highlights a number of traits including the Big Five of personality, typical intellectual engagement, and general self‐efficacy that form a distinct personality profile of DSOL. The effects of these personality traits on DSOL are partially mediated by generalized opinion leadership and objective knowledge.     

Female‐Led High‐Growth: Examining the Role of Human and Financial Resource Management

We integrate research on upper echelons theory, the resource‐based view, and gender to explore conditions that facilitate high growth for female‐led firms. We argue that female entrepreneurs have certain advantages that help them leverage their firms’ human and financial capital to achieve high growth. In support, using a sample of U.S.‐based entrepreneurial firms, we found evidence that having a female lead entrepreneur positively moderated the positive relationships between indicators of firms’ human and financial capital and high growth. The findings have implications for programs, policies, and practices to encourage more high growth in firms with female lead entrepreneurs.     

High‐Growth Women’s Entrepreneurship: Fueling Social and Economic Development

High‐growth firms, often referred to as “gazelles,” are equated with entrepreneurial success and celebrated as the key to growing economies, and women’s entrepreneurship is a vehicle of economic and social development. This special issue publishes papers that address the general lack of research on high‐growth women’s entrepreneurship. In this introduction paper, we offer an adapted framework for the factors driving high growth across multiple levels: individual (entrepreneur and entrepreneurial team characteristics), venture (strategy, organizational structures, and systems), resources, location, and environment. We also introduce the papers in this special issue and present an overview of the contributions to this issue.     

Hispanic Immigrant Entrepreneurs in the Las Vegas Metropolitan Area: Motivations for Entry into and Outcomes of Self‐Employment*

This study examined business ownership among foreign‐born Hispanic entrepreneurs. Through semistructured face‐to‐face interviews, the researchers examined motivations to enter business ownership as well as different business practices and the possible relationship between these practices and viability. It appears that in the Las Vegas metropolitan area, pull factors have a stronger impact on entrepreneurship than do push factors, drawing individuals into entrepreneurship. In addition, the importance of preparing a business plan and investing in advertising for business viability is identified.     

Mall Haul Videos: Self‐Presentational Motives and the Role of Self‐Monitoring

Mall haul videos or vlogs are short videos in which young women not only present their fashion and beauty purchases but express their evaluations and opinions as well. The attitudes expressed could help the vlogger reap social rewards from a reference group or demonstrate the consistency between privately held attitudes and publicly expressed ones. In four studies, using the self‐monitoring construct to identify which function an attitude may serve for an individual, the self‐monitoring propensity of mall haul vloggers and the social‐adjustive and value‐expressive functions that posting and watching such vlogs fulfill for the individual was explored. In the first study, those who post and do not post mall haul vlogs were surveyed and results suggested that more high self‐monitors than low self‐monitors posted mall haul vlogs. In Study 2, a content analysis was conducted and revealed that low self‐monitors in comparison to high self‐monitors mentioned more brand names in their mall haul vlog. In Study 3, the valence of the product evaluations conveyed in mall haul vlogs by high and low self‐monitors was analyzed. High self‐monitors generated more positive messages than low self‐monitors. Finally in Study 4, the links between self‐monitoring on individuals’ willingness to watch rather than post mall haul vlogs were examined. High self‐monitors were more likely to watch a mall haul vlog when the retailer mentioned was perceived to possess high status (compared to medium or low status); while low self‐monitors were more likely to watch a mall haul vlog when the retailer mentioned was perceived to possess low status (compared to medium or high status). Across all four studies, results indicated that mall haul vlogs were fulfilling a social‐adjustive function for high self‐monitors whereas they were fulfilling a value‐expressive function for low self‐monitors. Implications for marketing are discussed.     

Self‐regulation of unwanted consumption

The issue of consumption control is viewed from the perspective of self‐regulation in which successful attempts at controlling problem behaviors depend upon achieving motivational readiness. It is proposed that consumption control can be understood as a series of stage‐related processes that follow from theoretical accounts of self‐regulation contained in the transtheoretical model of change, and the model of action phases. In order to observe ongoing consumption‐control processes, a diary study, in which participants described their actions, thoughts, and feelings in attempting a personal consumption‐control project, was conducted. Diary entries were interpreted in light of theoretical stage‐related processes. © 2001 John Wiley & Sons, Inc.     

How Task Structure and Outcome Comparisons Influence Women's and Men's Risk‐Taking Self‐Efficacies: A Multi‐Study Exploration

To explore inconsistent findings in the perceived self‐efficacy and entrepreneurship literatures as they relate to the type of complex, risky decisions (i.e., those that commit financial resources to generate new revenue) made by marketing managers, entrepreneurs, and corporate intrapreneurs, this paper uses a series of four theoretically driven, empirical studies to investigate gender differences in risk‐taking self‐efficacies (i.e., one's perceived abilities to make financially risky, business development decisions). The results indicate the following: (1) no gender differences in risk‐taking self‐efficacies absent a task; (2) after performing a complex, risk‐laden task, the risk‐taking self‐efficacies of subjects receiving negatively valenced outcome information and women were less than those of subjects receiving positively valenced outcome information and men; (3) this effect remains for women when experience in the task domain is high and when diagnostic information about prior outcomes is provided; (4) the reason for the effect appears to be that men and women use information about their prior decision's outcomes differently when assessing their risk‐taking self‐efficacies; and (5) the effect disappears when social cues intended to facilitate accurate performance comparisons are introduced into the task environment. These findings support existing theories, identify areas needing development, and show how these effects can limit participation in both complex, risk‐laden tasks and careers that are thought to involve performing such tasks.     

Investigating Gender‐Schema Congruity Effects on Consumers’ Evaluation of Anthropomorphized Products

Anthropomorphism refers to the tendency to attribute humanlike characteristics, intentions, and behavior to nonhuman artifacts. Prior research has established a product‐schema congruity effect by suggesting that successful anthropomorphism necessitates a product with schema‐congruent features next to the promotion message. This article extends this body of research for the specific case of gender anthropomorphism by proposing a gender‐schema congruity effect. Specifically, the results of two experimental studies demonstrated that when a human gender schema is primed, that is, congruent with consumers’ own gender, consumers show more preferential evaluations and are more likely to perceive the product as human, even when no product‐schema congruent features are present in the product. Results indicated that perceived anthropomorphism mediates the gender‐schema congruity effect and the product‐schema congruity effect on product evaluations.     

Intersectionality of Ethnic and Entrepreneurial Identities: A Study of Post‐War Polish Entrepreneurs in an English City

An understanding of ethnic and immigrant entrepreneurship is developed in this paper by exploring how ethnic and entrepreneurial identities intersect. Bourdieu's concept of habitus frames the analysis of narratives of five post‐war Polish entrepreneurs in Leicester. The narrative analysis illuminates the multilayered and nuanced nature of identities. The Polish origin of these entrepreneurs’ habitus was interpreted in light of individual and collective experiences gained growing up in the United Kingdom. While Polish identity was pertinent, it did not define the narrative of entrepreneurship. Our contribution is a theoretically informed, rich qualitative study of what ethnic identity means to individuals and how it intersects with entrepreneurial identity.     

Relating External Support,Business Growth & Creating Strategies for Survival: A Comparative Case Study Analyses of Small Manufacturing Firms (SMFs) and Entrepreneurs

Using a comparative case study approach, this paper presents three of thirty-two findings on Small Plastic Manufacturing Firms' (SPMFs) and Entrepreneurs in Nigeria. The selected firms represent performance differences between firms that have received external support and those that did not. Due to lack of support, some entrepreneurs had to independently sustain themselves through their creativeabilities. Findings from the study revealed that Small Plastic Manufacturing Entrepreneurs in Nigeria are constrained by certain external and internal factors. Ironically, these constraints seem to have challenged some entrepreneurs to invent original strategies on their own, to cope, survive and to remain in business. Lack of financial capital, especially foreign exchange needed to import vital operating inputs from abroad has been the most serious constraint. Other serious external constraints identified are inadequate infrastructure facilities, competition from large firms, unfavorable government policies, dearth of machines and spare parts and paucity of raw materials. Internal obstacles like incompetent planning, poor organizational skills and limited knowledge among others were common obstacles faced by the entrepreneurs. In addition, another discovery is that funding assistance to entrepreneurs by relevant institutions concerned is not free from bias on the basis, of favoritism. It is therefore recommended that funding institutions should give due consideration and encouragement to promising talents. Two have especially been identified from the study as typical examples of potential avant-garde entrepreneurs and such should not be neglected or wasted. Guidance for further progress through training is another helpful approach to take and give succor to such admirable talents. Entrepreneurs, who qualify for grants from institutions, should completely be decided on compliance to standard selection procedures, rules and evidence of superior entrepreneurial qualities. In addition, those who qualify for support should be determined only after feasible business plans have been presented.