Decisions,Actions, and Performance: Do Novice,Serial, and Portfolio Entrepreneurs Differ?*

A conceptual framework is extended to take into account differences between inexperienced novice entrepreneurs (that is, individuals with no prior private business ownership experience) and experienced serial and portfolio entrepreneurs. Some policymakers and practitioners are considering whether resources could be more effectively utilized if they were targeted toward serial and portfolio entrepreneurs, rather than in the form of additional initiatives to increase the pool of “pure” nascent entrepreneurs and novice entrepreneurs. To inform this policy debate, similarities and differences between novice, serial, and portfolio entrepreneurs are highlighted with regard to their decisions, actions, performance, and aspirations. We detected that portfolio entrepreneurs were more likely to express dimensions of entrepreneurial behavior. A case for targeted support tailored to the aspirations and needs of novice, serial, and portfolio entrepreneurs is presented.     

A fast method for analysing and improving complex software processes

This paper presents a simple, fast method (or management tool) for the analysis and improvement of software-intensive complex products and systems (CoPS) called software analysis-software improvement (SA-SI). The tool relies on outside intervention, rapid data collection and structured in-company workshops. The distinctive feature of the method is that it focuses on the 'soft', human side of the software development process and examines and compares formal (or rational) processes ('what should be') with real, actual practices ('what is'), in order to identify problems, their causes and strategies for improvement. The tool complements existing formal approaches by delivering a 'bottom up', grass roots, practitioner view of real processes in action. The purpose of SA-SI is to help overcome the severe problems of measuring, analysing and improving performance in large scale, complex software projects. An illustrative case example (Company X) is used to show how the tool is applied and how it confronts the problem of actual/real processes differing from ideal/formal processes. It also shows how SA-SI is used to identify process 'hot spots'(severe problems), analyse their causes and identify solutions. The paper provides guidance on typical problems encountered in running SA-SI and how to overcome them. It also shows how the tool has been modified and extended to deal with other complex domains and innovation management issues. Although SA-SI cannot be a substitute for a change programme, it can play a useful part in complementing ongoing improvement activities. From a research perspective, the method helps link up studies from the organisational development and software fields and assists in 'closing the loop' between innovation research and business practice.     

Technology choice under changing peanut policies

The effect of marketing quotas and price supports on technology adoption are examined for peanut production in the southeastern United States using a real options model of investment with output price and yield uncertainty. The optimal choice of peanut production technology (dryland versus irrigated) in the southeast is shown to depend on price supports and how they change. The manner in which price supports change will have an effect on the choice and rates of abandonment or adoption of production technologies.     

Export Barriers and Problems Associated With Exporting Icelandic Marine Products Under Conditions of Export or Die

We have examined perceived barriers to the export of Icelandic marine products and how they have changed over a period of nearly 20 years. We used qualitative and quantitative information from two different surveys conducted in 1993 and 2011. We identified nine main barriers to export that existed in both 1993 and 2011, plus an additional seven factors that prevailed only in 1993 or only in 2011. Further, we distinguished whether these factors were internal or external to the decision area of the Icelandic export firms. This report details the outcome of each survey, compares them quantitatively, and explains the patterns observed using the survey interviews of exporters.     

Behind M&;As in China and the United States: Networks,learning, and institutions

Few scholars would dispute the argument that mergers and acquisitions (M&As) are different in China and the United States, but we know little about how they differ. This article reports one of the first studies that systematically compares and contrasts how M&As differ in these two countries. While prior research on M&As tends to emphasize economic and financial explanations while treating firms as atomistic actors severed from their institutional and network relations, we develop a new theoretical framework based on relational, behavioral, and institutional perspectives. We not only consider firms as learning actors embedded in network relations, but also compare and contrast their M&A patterns between China and the United States, two distinctive institutional contexts. We find that both a firm’s structural hole position and its learning orientation (exploration/exploitation) in alliances have direct and joint impacts on subsequent M&As. Further, such impacts differ across the two countries, due to their institutional disparities.     

Coordinated Effects in the 2010 Horizontal Merger Guidelines

Recent research has highlighted the quantitative contribution to merger analysis from extending unilateral effects models to understand the payoffs to future potential coordinated effects. Some of the emphasis of this research appears to have made its way into the 2010 Horizontal Merger Guidelines. In this paper, we demonstrate the quantification of coordinated effects in an oligopoly and procurement model, and we show that screens that are based on upward pricing pressure are not adequate in mergers where coordinated effects are a potential concern.     

Early internet IPOs versus subsequent entrants

This paper examines whether investors in early Internet IPOs earned superior returns to those who invested in later entrants. We document three differences between early public firms in a new Internet technology and their followers: underpricing, operating characteristics at the IPO, and stock price performance after the IPO. We find that there is value in going public relatively early in a new Internet technology. Specifically, long-term returns are significantly higher for the early entrants. We also find evidence, consistent with previous studies that examine hot IPO markets, that the early public firms have better operating characteristics at the IPO than later entrants.     

Profitability analysis in UK organizations: An exploratory study

Recent research into management accounting practices suggests that companies are now placing considerable emphasis on profitability analysis and consider it to be one of the most important management accounting practices. There is however little recent empirical research relating to the content and role of profitability analysis in companies. This paper will address this omission and report the findings derived from a survey of UK companies relating to information that is contained in profitability reporting, generated for managing the existing mix of a firm's activities. In particular, it focuses on the nature, content and role of profitability analysis carrying out some exploratory analysis and testing various propositions to explain the divergence in observed practices.A distinctive feature of the research is that, unlike some previous research, rather than focusing on the information that is accumulated within the costing system it focuses primarily on the information that is extracted from it for different purposes. Not surprisingly we find that different information is extracted for profitability analysis than for pricing purposes. The research findings also indicate that firms use a hierarchy of profit measures within the periodic profitability analysis statements and that profitability analysis is used mainly for attention-directing purposes for signalling the need for more detailed studies. For profitability analysis, the findings suggest that, in terms of what is considered the most important attention-directing measure, the use of some form of full costs based on arbitrary allocations is not as widespread as that suggested by previous studies. Evidence is also presented to suggest that the level of cost system complexity influences the observed practices.