Pub Date : 1900-01-01DOI: 10.5465/AMBPP.2013.17168ABSTRACT
Boris W. Zaremba, C. Bode, Stephan M. Wagner
This study investigates how buying firms perceive and assess new ventures in supplier selection decision making. Drawing on the legitimacy perspective within institutional theory, we argue that the perceived legitimacy of a new venture serves as an important basis for buying firms’ judgments whether the new venture is appropriate, desirable, and capable. The results, obtained from the analysis of 150 individual selection decisions, suggest that new venture legitimacy increases the probability of being selected as a supplier and that firms’ prior experiences with new ventures mitigates the effect of new venture legitimacy. Our study provides a micro-level analysis of new venture legitimacy which contributes to an improved understanding of the relationship between buying firms and new venture and provides insights into formation, use, and underlying dynamics of legitimacy judgments.
{"title":"NEW VENTURE LEGITIMACY AND ITS ROLE IN SUPPLIER SELECTION DECISION-MAKING (SUMMARY)","authors":"Boris W. Zaremba, C. Bode, Stephan M. Wagner","doi":"10.5465/AMBPP.2013.17168ABSTRACT","DOIUrl":"https://doi.org/10.5465/AMBPP.2013.17168ABSTRACT","url":null,"abstract":"This study investigates how buying firms perceive and assess new ventures in supplier selection decision making. Drawing on the legitimacy perspective within institutional theory, we argue that the perceived legitimacy of a new venture serves as an important basis for buying firms’ judgments whether the new venture is appropriate, desirable, and capable. The results, obtained from the analysis of 150 individual selection decisions, suggest that new venture legitimacy increases the probability of being selected as a supplier and that firms’ prior experiences with new ventures mitigates the effect of new venture legitimacy. Our study provides a micro-level analysis of new venture legitimacy which contributes to an improved understanding of the relationship between buying firms and new venture and provides insights into formation, use, and underlying dynamics of legitimacy judgments.","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114202514","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.5465/AMBPP.2013.11943ABSTRACT
T. Vanacker, Mirjam Knockaert, S. Manigart
Drawing upon signaling theory and the attention-based view of the firm, we study if signal receivers attend differently to different types of signals when they interact with different firms or operate under different market conditions. Our theorizing and empirical analysis is situated in the context of the follow-on fundraising activities by private equity managers managing a first fund. Using a sample of 238 private equity partnerships, we find that overall performance of the first private equity fund and its two components, namely realized performance and unrealized performance, positively influence the likelihood of raising a follow-on fund. Nevertheless, the impact of realized performance on fundraising is less important for funds investing in early stage companies (early stage funds) as compared to funds investing in mature companies (late stage funds). Moreover, realized performance is a more important signal to fund investors in hot equity markets than in cold equity markets. We discuss the implica...
{"title":"PRIVATE EQUITY FUND PERFORMANCE SIGNALS AND THE LIKELIHOOD OF FOLLOW-ON FUNDRAISING","authors":"T. Vanacker, Mirjam Knockaert, S. Manigart","doi":"10.5465/AMBPP.2013.11943ABSTRACT","DOIUrl":"https://doi.org/10.5465/AMBPP.2013.11943ABSTRACT","url":null,"abstract":"Drawing upon signaling theory and the attention-based view of the firm, we study if signal receivers attend differently to different types of signals when they interact with different firms or operate under different market conditions. Our theorizing and empirical analysis is situated in the context of the follow-on fundraising activities by private equity managers managing a first fund. Using a sample of 238 private equity partnerships, we find that overall performance of the first private equity fund and its two components, namely realized performance and unrealized performance, positively influence the likelihood of raising a follow-on fund. Nevertheless, the impact of realized performance on fundraising is less important for funds investing in early stage companies (early stage funds) as compared to funds investing in mature companies (late stage funds). Moreover, realized performance is a more important signal to fund investors in hot equity markets than in cold equity markets. We discuss the implica...","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114297689","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.5465/AMBPP.2013.15890ABSTRACT
S. Dolmans, S. Shane, Joseph Jankowski, I. Reymen, A. Romme
Technology licensing officers play an important role in influencing the commercialization of university inventions. Because the rights to inventions of faculty, staff and students at U.S. universit...
技术许可官员在影响大学发明商业化方面发挥着重要作用。因为美国大学教职员工和学生的发明创造权利……
{"title":"THE PERCEIVED VALUE OF INVENTOR STATUS","authors":"S. Dolmans, S. Shane, Joseph Jankowski, I. Reymen, A. Romme","doi":"10.5465/AMBPP.2013.15890ABSTRACT","DOIUrl":"https://doi.org/10.5465/AMBPP.2013.15890ABSTRACT","url":null,"abstract":"Technology licensing officers play an important role in influencing the commercialization of university inventions. Because the rights to inventions of faculty, staff and students at U.S. universit...","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114912031","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4337/9781849805469.00013
Ethel Brundin, M. Nordqvist, L. Melin
Entrepreneurial orientation across generations in family firms : the role of owner-centric culture for proactiveness and autonomy
家族企业的代际创业取向:所有者中心文化对主动性和自主性的作用
{"title":"ENTREPRENEURIAL ORIENTATION ACROSS GENERATIONS IN FAMILY FIRMS: THE ROLE OF OWNER-CENTRIC CULTURE FOR PROACTIVENESS AND AUTONOMY (SUMMARY)","authors":"Ethel Brundin, M. Nordqvist, L. Melin","doi":"10.4337/9781849805469.00013","DOIUrl":"https://doi.org/10.4337/9781849805469.00013","url":null,"abstract":"Entrepreneurial orientation across generations in family firms : the role of owner-centric culture for proactiveness and autonomy","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"264 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122847558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Olivier Giacomin, F. Janssen, J. Guyot, Olivier Lohest
{"title":"Firm gestation process : is there a difference between necessity and opportunity entrepreneurs ?","authors":"Olivier Giacomin, F. Janssen, J. Guyot, Olivier Lohest","doi":"10.2139/ssrn.2557489","DOIUrl":"https://doi.org/10.2139/ssrn.2557489","url":null,"abstract":"","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134098340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Entrepreneurs discover and execute opportunities while investors specialize in evaluating and funding these opportunities. As those startups funded by investors (venture capitalists or business angels and the like) subsequently perceive higher survival rates and better performance, this task partitioning seems to create a win-win situation for both parties. Nevertheless, investors recently started to change their role by partially substituting their funding role with a founding role: investors recognize business opportunities themselves, exploit them by hiring a selected management team and finance them as seed investors. In this paper we therefore address the following research question: why are some investors capable of playing this new role, while others are not. Based on a qualitative pre-study as well as a database of 216 investors who invested in 841 German Internet Startups between 2005 and 2009, we find a positive relationship between both, depth and breath of prior knowledge and the propensity of...
{"title":"FROM FUNDING TO FOUNDING - THE CHANGING ROLE OF INVESTORS: AN EMPIRICAL STUDY IN THE GERMAN INTERNET SECTOR (SUMMARY)","authors":"Stephan Jung, Christopher Lettl","doi":"10.5465/AMBPP.2012.192","DOIUrl":"https://doi.org/10.5465/AMBPP.2012.192","url":null,"abstract":"Entrepreneurs discover and execute opportunities while investors specialize in evaluating and funding these opportunities. As those startups funded by investors (venture capitalists or business angels and the like) subsequently perceive higher survival rates and better performance, this task partitioning seems to create a win-win situation for both parties. Nevertheless, investors recently started to change their role by partially substituting their funding role with a founding role: investors recognize business opportunities themselves, exploit them by hiring a selected management team and finance them as seed investors. In this paper we therefore address the following research question: why are some investors capable of playing this new role, while others are not. Based on a qualitative pre-study as well as a database of 216 investors who invested in 841 German Internet Startups between 2005 and 2009, we find a positive relationship between both, depth and breath of prior knowledge and the propensity of...","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125197792","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Despite being the ones who solicit venture capital (VC) funding, the founders’ influence on VC syndicate formation has been neglected in the current literature. This paper fills this gap by comparing serial and novice entrepreneurs. We argue that a syndicate with lower prior tie density is more likely to be formed by serial entrepreneurs. However, this effect only holds when collaboration challenges are less of an issue. In the case of multi-VC syndicates, serial entrepreneurs are more likely to form a syndicate with lower tie strength dispersion to ensure a supportive syndicate. Empirical analyses of 183 startup companies support our arguments.
{"title":"DO I HAVE A SAY IN IT? THE FOUNDERS’ ROLE IN VENTURE CAPITAL SYNDICATE FORMATION (SUMMARY)","authors":"Lei Zhang","doi":"10.5465/ambpp.2016.297","DOIUrl":"https://doi.org/10.5465/ambpp.2016.297","url":null,"abstract":"Despite being the ones who solicit venture capital (VC) funding, the founders’ influence on VC syndicate formation has been neglected in the current literature. This paper fills this gap by comparing serial and novice entrepreneurs. We argue that a syndicate with lower prior tie density is more likely to be formed by serial entrepreneurs. However, this effect only holds when collaboration challenges are less of an issue. In the case of multi-VC syndicates, serial entrepreneurs are more likely to form a syndicate with lower tie strength dispersion to ensure a supportive syndicate. Empirical analyses of 183 startup companies support our arguments.","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113964129","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1007/978-0-387-09523-3_11
C. B. Schoonhoven, M. Burton, P. Reynolds
{"title":"RECONCEIVING THE GESTATION WINDOW: THE CONSEQUENCES OF COMPETING DEFINITIONS OF FIRM CONCEPTION AND BIRTH","authors":"C. B. Schoonhoven, M. Burton, P. Reynolds","doi":"10.1007/978-0-387-09523-3_11","DOIUrl":"https://doi.org/10.1007/978-0-387-09523-3_11","url":null,"abstract":"","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117058355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.5465/AMBPP.2016.10013ABSTRACT
R. Hunt, Bret R. Fund
Sustainability involves the drive to ensure intergenerational fairness. However, the results of actions taken to achieve sustainability often lie far into the future and efforts to promote the welf...
{"title":"CROWDING OUT EFFECTS OF WELL- INTENDED ENVIRONMENTAL POLICIES","authors":"R. Hunt, Bret R. Fund","doi":"10.5465/AMBPP.2016.10013ABSTRACT","DOIUrl":"https://doi.org/10.5465/AMBPP.2016.10013ABSTRACT","url":null,"abstract":"Sustainability involves the drive to ensure intergenerational fairness. However, the results of actions taken to achieve sustainability often lie far into the future and efforts to promote the welf...","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121670305","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.5465/AMBPP.2016.17432ABSTRACT
Kisha Lashley
In this study, I take an inductive approach to understanding how entrepreneurs in the core-stigmatized medical cannabis industry are attempting to increase audience support and remove the stigma th...
{"title":"WAITING TO INHALE: HOW MEDICAL CANNABIS ENTREPRENEURS ARE DESTIGMATIZING THEIR INDUSTRY (SUMMARY)","authors":"Kisha Lashley","doi":"10.5465/AMBPP.2016.17432ABSTRACT","DOIUrl":"https://doi.org/10.5465/AMBPP.2016.17432ABSTRACT","url":null,"abstract":"In this study, I take an inductive approach to understanding how entrepreneurs in the core-stigmatized medical cannabis industry are attempting to increase audience support and remove the stigma th...","PeriodicalId":201346,"journal":{"name":"Frontiers of entrepreneurship research","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132101712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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