Pub Date : 2022-11-24DOI: 10.1108/jrme-01-2022-0007
Aodheen McCartan
Purpose The purpose of the paper is to advance knowledge of small firm performance by explicating how networking helps small firms carry out marketing and perform better. Design/methodology/approach An online survey of small firm owner-managers in a regional economy of the UK was executed. Hypotheses were tested including the proposition that networking proactiveness moderates the relationship between market orientation (MO) and performance. Findings It was found that networking is undertaken by all small firms across a spectrum of business types. Networking is seen as applicable, it results in valuable outcomes and these outcomes contribute to marketing. The contribution increases with firm size and is valued more in small firms with a dedicated marketing function. Proactive networking creates greater value than reactive networking, but proactive networking in and of itself does not lead to greater performance. Rather, networking proactiveness moderates the relationship between MO and performance. Practical implications It is argued that networking should not be dismissed as “not quite proper” marketing and should be harnessed as a way of compensating for marketing activities that are outside the reach of the small firm. Small firms are advised to adopt a proactive approach to their networking activities, as without a reasonable level of proactiveness, there is likely to be no benefit in being market oriented. Originality/value There has been little research that has examined the specific ways in which networking contributes to marketing and none that probes if and to what extent this contribution makes a difference to overall firm performance. This paper addresses this gap.
{"title":"Marketing and performance in small firms: the role of networking","authors":"Aodheen McCartan","doi":"10.1108/jrme-01-2022-0007","DOIUrl":"https://doi.org/10.1108/jrme-01-2022-0007","url":null,"abstract":"Purpose The purpose of the paper is to advance knowledge of small firm performance by explicating how networking helps small firms carry out marketing and perform better. Design/methodology/approach An online survey of small firm owner-managers in a regional economy of the UK was executed. Hypotheses were tested including the proposition that networking proactiveness moderates the relationship between market orientation (MO) and performance. Findings It was found that networking is undertaken by all small firms across a spectrum of business types. Networking is seen as applicable, it results in valuable outcomes and these outcomes contribute to marketing. The contribution increases with firm size and is valued more in small firms with a dedicated marketing function. Proactive networking creates greater value than reactive networking, but proactive networking in and of itself does not lead to greater performance. Rather, networking proactiveness moderates the relationship between MO and performance. Practical implications It is argued that networking should not be dismissed as “not quite proper” marketing and should be harnessed as a way of compensating for marketing activities that are outside the reach of the small firm. Small firms are advised to adopt a proactive approach to their networking activities, as without a reasonable level of proactiveness, there is likely to be no benefit in being market oriented. Originality/value There has been little research that has examined the specific ways in which networking contributes to marketing and none that probes if and to what extent this contribution makes a difference to overall firm performance. This paper addresses this gap.","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43624807","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 : 2022-11-10DOI: 10.1108/jrme-01-2022-0009
A. Pohlmann, Diego F. Grijalva, Fabrizio S Noboa, Johanna Andrango
Purpose Associated with status, excess and wastefulness, the consumption of luxury is perceived as the antithesis to sustainable development. Entrepreneurs create business cases to mediate positive sustainability changes, which transform markets and institutional arrangements. The purpose of this paper is to propose the concept of value-in-impact as an interface concept to integrate perspectives from entrepreneurship, marketing and ecological economics. It provides interdisciplinarily applicable, generalizable concepts to describe social entrepreneurs’ personal motivations to reconfigure market structures to produce sustainability change. Design/methodology/approach The case of Ecuadorian luxury chocolate manufactory To’ak is described in the context of the three pillars of sustainability, chocolate producers and cacao suppliers. Thematic analysis of the founders’ personal narratives provides insight regarding their motivation to use ostensibly antithetical luxury marketing for rainforest preservation and to foster self-reliant communities. Findings To’ak pays premium prices to create incentives to community farmers to propagate the rare, DNA-certified cacao exclusive to their products, thereby marginalizing oppressive suppliers. The company’s founders are motivated to excellence in the chocolate industry, having witnessed the loss of the cultural meaning of cacao, rainforest degradation and the dissipation of associated communities. The case study findings illustrate how value-in-impact is interpreted as purposeful configuration of value-in-use and value-in-exchange on luxury markets to produce positive sustainability change. Originality/value The notion of value-in-impact describes higher order conceptualizations in business research. It encompasses a holistic understanding of the dynamics within and between societal and natural ecosystems. Its application at the marketing/entrepreneurship interface can lead to improved management and policy decisions.
{"title":"Paragons of sustainability: transforming luxury markets through value-in-impact. Insights from an Ecuadorian artisan chocolate case study","authors":"A. Pohlmann, Diego F. Grijalva, Fabrizio S Noboa, Johanna Andrango","doi":"10.1108/jrme-01-2022-0009","DOIUrl":"https://doi.org/10.1108/jrme-01-2022-0009","url":null,"abstract":"\u0000Purpose\u0000Associated with status, excess and wastefulness, the consumption of luxury is perceived as the antithesis to sustainable development. Entrepreneurs create business cases to mediate positive sustainability changes, which transform markets and institutional arrangements. The purpose of this paper is to propose the concept of value-in-impact as an interface concept to integrate perspectives from entrepreneurship, marketing and ecological economics. It provides interdisciplinarily applicable, generalizable concepts to describe social entrepreneurs’ personal motivations to reconfigure market structures to produce sustainability change.\u0000\u0000\u0000Design/methodology/approach\u0000The case of Ecuadorian luxury chocolate manufactory To’ak is described in the context of the three pillars of sustainability, chocolate producers and cacao suppliers. Thematic analysis of the founders’ personal narratives provides insight regarding their motivation to use ostensibly antithetical luxury marketing for rainforest preservation and to foster self-reliant communities.\u0000\u0000\u0000Findings\u0000To’ak pays premium prices to create incentives to community farmers to propagate the rare, DNA-certified cacao exclusive to their products, thereby marginalizing oppressive suppliers. The company’s founders are motivated to excellence in the chocolate industry, having witnessed the loss of the cultural meaning of cacao, rainforest degradation and the dissipation of associated communities. The case study findings illustrate how value-in-impact is interpreted as purposeful configuration of value-in-use and value-in-exchange on luxury markets to produce positive sustainability change.\u0000\u0000\u0000Originality/value\u0000The notion of value-in-impact describes higher order conceptualizations in business research. It encompasses a holistic understanding of the dynamics within and between societal and natural ecosystems. Its application at the marketing/entrepreneurship interface can lead to improved management and policy decisions.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41700142","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 : 2022-11-08DOI: 10.1108/jrme-05-2021-0059
Sucheta Agarwal, V. Agrawal, Veland Ramadani, J. Dixit, Shqipe Gërguri-Rashiti
Purpose During the different phases of enterprise creation, entrepreneurial learning (EL) can be understood as an effective process. This study aims to find out the cause-and-effect relationships of the factors that are impacting EL. Design/methodology/approach This research has been conducted in two ways: first, the factors are identified through a systematic analysis of EL, and second, the cause-and-effect relationship among EL factors is analyzed using decision-making trial and evaluation laboratory, which is dependent on the opinion of experts. A network relationship matrix is also drawn from the measured factors. Findings A causal relationship has been established within the identified EL factors. Results indicate that educators and practitioners should focus and concentrate on the cause group-related factors, which are entrepreneurship education, entrepreneurial training, entrepreneurial competencies, experiences, family influence and role models. The remaining two, entrepreneurial perception and entrepreneurial willingness, are identified as being in the effect group. These two factors are affected and influenced by the cause group factors. Research limitations/implications By recognizing the multidimensionality of EL, this study gives the chance to look at what it means to be an entrepreneur from both a personal and a social point of view, including learning styles, learning from mistakes and self-regulated learning. Future research is urged to build tools that accurately capture this crucial factors of EL, thus allowing the field to gain greater integration and information accumulation. Originality/value Researchers have previously described factors that influence EL, but to the best of the authors’ knowledge, this is one of few studies that depict the cause-and-effect relationship between EL factors. These factors are critical to the growth of talented entrepreneurs in both developed and developing countries for promoting an entrepreneurial culture.
{"title":"An empirical investigation and assessment of entrepreneurial learning factors: a DEMATEL approach","authors":"Sucheta Agarwal, V. Agrawal, Veland Ramadani, J. Dixit, Shqipe Gërguri-Rashiti","doi":"10.1108/jrme-05-2021-0059","DOIUrl":"https://doi.org/10.1108/jrme-05-2021-0059","url":null,"abstract":"\u0000Purpose\u0000During the different phases of enterprise creation, entrepreneurial learning (EL) can be understood as an effective process. This study aims to find out the cause-and-effect relationships of the factors that are impacting EL.\u0000\u0000\u0000Design/methodology/approach\u0000This research has been conducted in two ways: first, the factors are identified through a systematic analysis of EL, and second, the cause-and-effect relationship among EL factors is analyzed using decision-making trial and evaluation laboratory, which is dependent on the opinion of experts. A network relationship matrix is also drawn from the measured factors.\u0000\u0000\u0000Findings\u0000A causal relationship has been established within the identified EL factors. Results indicate that educators and practitioners should focus and concentrate on the cause group-related factors, which are entrepreneurship education, entrepreneurial training, entrepreneurial competencies, experiences, family influence and role models. The remaining two, entrepreneurial perception and entrepreneurial willingness, are identified as being in the effect group. These two factors are affected and influenced by the cause group factors.\u0000\u0000\u0000Research limitations/implications\u0000By recognizing the multidimensionality of EL, this study gives the chance to look at what it means to be an entrepreneur from both a personal and a social point of view, including learning styles, learning from mistakes and self-regulated learning. Future research is urged to build tools that accurately capture this crucial factors of EL, thus allowing the field to gain greater integration and information accumulation.\u0000\u0000\u0000Originality/value\u0000Researchers have previously described factors that influence EL, but to the best of the authors’ knowledge, this is one of few studies that depict the cause-and-effect relationship between EL factors. These factors are critical to the growth of talented entrepreneurs in both developed and developing countries for promoting an entrepreneurial culture.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43513004","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 : 2022-11-03DOI: 10.1108/jrme-09-2021-0128
M. Zebal, Taimur Sharif, Jack Crumbly, Anushe Zebal
Purpose The purpose of this study was to investigate the role of internal market orientation on the adoption of external market orientation among the retail banks in the United Arab Emirates (UAE). This study adds to the previous research regarding external market orientation. It also develops an empirical model on the basis of the results. Design/methodology/approach This study used a self-administered structured questionnaire to collect data from the front-line marketing and non-marketing employees from the banks. Data were collected from 98 branches of all the 49 banks that operate in the UAE. Two major emirates of the UAE, namely, Abu Dhabi and Dubai, were considered for data collection. Each bank contributed responses from a minimum of two branches, and 113 completed questionnaires were received out of 196 respondents approached for data collection. The reliability, convergent and discriminant validity issues of the data were assessed, and the results of these confirmed the appropriateness of the data used in this study. Findings Direct entry regression and multivariate analysis of variance were used for identifying the conclusions surrounding the hypotheses of the study. The results measured the extent of internal market orientation and employees’ organisational commitment. They both confirmed their positive role on the adoption of external market orientations among the retail banks in the UAE. The results of the study further provided evidence that once an external market orientation focus is adopted, this benefits customer loyalty and satisfaction in addition to overall positive business outcomes for the banks concerned. Originality/value The findings of this study support the theoretical arguments of the role of employees and internal market orientation on the adoption of external market orientation. This study further identifies the reason why the adoption of external market orientation is critical for the success of banks.
{"title":"The role of internal market orientation on the adoption of external market orientation in retail banking","authors":"M. Zebal, Taimur Sharif, Jack Crumbly, Anushe Zebal","doi":"10.1108/jrme-09-2021-0128","DOIUrl":"https://doi.org/10.1108/jrme-09-2021-0128","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study was to investigate the role of internal market orientation on the adoption of external market orientation among the retail banks in the United Arab Emirates (UAE). This study adds to the previous research regarding external market orientation. It also develops an empirical model on the basis of the results.\u0000\u0000\u0000Design/methodology/approach\u0000This study used a self-administered structured questionnaire to collect data from the front-line marketing and non-marketing employees from the banks. Data were collected from 98 branches of all the 49 banks that operate in the UAE. Two major emirates of the UAE, namely, Abu Dhabi and Dubai, were considered for data collection. Each bank contributed responses from a minimum of two branches, and 113 completed questionnaires were received out of 196 respondents approached for data collection. The reliability, convergent and discriminant validity issues of the data were assessed, and the results of these confirmed the appropriateness of the data used in this study.\u0000\u0000\u0000Findings\u0000Direct entry regression and multivariate analysis of variance were used for identifying the conclusions surrounding the hypotheses of the study. The results measured the extent of internal market orientation and employees’ organisational commitment. They both confirmed their positive role on the adoption of external market orientations among the retail banks in the UAE. The results of the study further provided evidence that once an external market orientation focus is adopted, this benefits customer loyalty and satisfaction in addition to overall positive business outcomes for the banks concerned.\u0000\u0000\u0000Originality/value\u0000The findings of this study support the theoretical arguments of the role of employees and internal market orientation on the adoption of external market orientation. This study further identifies the reason why the adoption of external market orientation is critical for the success of banks.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45728785","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 : 2022-10-11DOI: 10.1108/jrme-01-2022-0004
Sérgio Moro, Guilherme D. Pires, P. Rita, P. Cortez, Ricardo F. Ramos
Purpose This study aims to unveil within the current academic literature the principal directions in the ethnic entrepreneurship and small business marketing research context. Design/methodology/approach An automated literature analysis procedure was undertaken, attempting to cover all literature published on the subject since 1962. A total of 188 articles were analysed using text mining and topic modelling. Findings The results show a lack of framing of ethnic entrepreneurship literature outside the narrower scope of migration. Some core themes were found (e.g. network, diversity) around which several other themes orbit, including both related issues to the ethnic factor (e.g. barriers and minorities) and managerial issues (e.g. marketing and production). Originality/value Ethnic minority business and small business marketing research has seen a growing number of publications. However, a careful review of existing work is missing.
{"title":"Discovering ethnic minority business research directions using text mining and topic modelling","authors":"Sérgio Moro, Guilherme D. Pires, P. Rita, P. Cortez, Ricardo F. Ramos","doi":"10.1108/jrme-01-2022-0004","DOIUrl":"https://doi.org/10.1108/jrme-01-2022-0004","url":null,"abstract":"\u0000Purpose\u0000This study aims to unveil within the current academic literature the principal directions in the ethnic entrepreneurship and small business marketing research context.\u0000\u0000\u0000Design/methodology/approach\u0000An automated literature analysis procedure was undertaken, attempting to cover all literature published on the subject since 1962. A total of 188 articles were analysed using text mining and topic modelling.\u0000\u0000\u0000Findings\u0000The results show a lack of framing of ethnic entrepreneurship literature outside the narrower scope of migration. Some core themes were found (e.g. network, diversity) around which several other themes orbit, including both related issues to the ethnic factor (e.g. barriers and minorities) and managerial issues (e.g. marketing and production).\u0000\u0000\u0000Originality/value\u0000Ethnic minority business and small business marketing research has seen a growing number of publications. However, a careful review of existing work is missing.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47636441","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 : 2022-10-10DOI: 10.1108/jrme-08-2021-0105
Jabir Ali, Zakia Jabeen, Muqbil Burhan
Purpose This paper aims at measuring the factors such as cognitive, economic and social recognition affecting entrepreneurial intention across gender in India. Design/methodology/approach This study is based on the Adult Population Survey of Global Entrepreneurship Monitor covering 4,000 respondents on their characteristics, perception and attitude toward entrepreneurship and intention of individuals for starting businesses. The data has been analyzed using chi-square statistics and logistics regression. Findings The relationship among the perceptions toward cognitive, economic and social recognition indicates variation across gender. The probability of becoming entrepreneurs among males and females is significantly influenced by a variety of factors such as cognitive (self-efficacy, knowledge about entrepreneurs and fear of failure), economic (perceived opportunity, career choice and easy to start) and social recognition (sense of equality, status and respect in the society and social welfare) with controlling effect of age, family size, education, working status and household income. Practical implications This paper provides insights on factors affecting entrepreneurial intention across gender and helps in developing a policy framework for promoting new ventures among male and female entrepreneurs. This paper also explores the possibility of future research on entrepreneurial intention in the Indian context. Originality/value Considering the current focus of the government in the country for promoting new ventures through various schemes, this piece of research can be valuable for various stakeholders for adopting a gender-based approach in implementing entrepreneurial initiatives in the emerging economies.
{"title":"Measuring factors influencing entrepreneurial intention across gender in India: evidence from Global Entrepreneurship Monitor (GEM) Database","authors":"Jabir Ali, Zakia Jabeen, Muqbil Burhan","doi":"10.1108/jrme-08-2021-0105","DOIUrl":"https://doi.org/10.1108/jrme-08-2021-0105","url":null,"abstract":"\u0000Purpose\u0000This paper aims at measuring the factors such as cognitive, economic and social recognition affecting entrepreneurial intention across gender in India.\u0000\u0000\u0000Design/methodology/approach\u0000This study is based on the Adult Population Survey of Global Entrepreneurship Monitor covering 4,000 respondents on their characteristics, perception and attitude toward entrepreneurship and intention of individuals for starting businesses. The data has been analyzed using chi-square statistics and logistics regression.\u0000\u0000\u0000Findings\u0000The relationship among the perceptions toward cognitive, economic and social recognition indicates variation across gender. The probability of becoming entrepreneurs among males and females is significantly influenced by a variety of factors such as cognitive (self-efficacy, knowledge about entrepreneurs and fear of failure), economic (perceived opportunity, career choice and easy to start) and social recognition (sense of equality, status and respect in the society and social welfare) with controlling effect of age, family size, education, working status and household income.\u0000\u0000\u0000Practical implications\u0000This paper provides insights on factors affecting entrepreneurial intention across gender and helps in developing a policy framework for promoting new ventures among male and female entrepreneurs. This paper also explores the possibility of future research on entrepreneurial intention in the Indian context.\u0000\u0000\u0000Originality/value\u0000Considering the current focus of the government in the country for promoting new ventures through various schemes, this piece of research can be valuable for various stakeholders for adopting a gender-based approach in implementing entrepreneurial initiatives in the emerging economies.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41996818","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 : 2022-09-26DOI: 10.1108/jrme-03-2022-0036
Esi A. Elliot, Robert S. Smith, Pelin Bicen
Purpose The purpose of this paper is to explore and understand how Chambers of Commerce enhance networking among ethnic small businesses and enable the co-creation of value. This study contributes to extant research through the emergence of the concept of cultural networking competence. This study highlights how Chambers of Commerce in the USA ensures the continuation, growth and replication of ethnic small businesses through cultural networking competence. Design/methodology/approach This study investigates the research question by conducting qualitative research and adopting an interpretive approach of investigation in the Hispanic Chamber of Commerce in Chicago. Subjects were recruited using purposive sampling techniques via community links. Findings Findings show the existence of four different types of value in line with Holbrook’s typology of value – utilitarian, social, emotional and altruistic value. Because these values are culturally related, this study regards these values as cultural networking competence, which differs from general networking competence due to its focus on culture. With cultural networking competence, ethnic firms benefit from access to new domains, the creation of new opportunities, an improved effectiveness in achieving objectives beyond their own ethnic networks and the resources of other actors that can be leveraged for wider impact. Originality/value This study contributes to extant research through the emergence of the concept of cultural networking competence. This study highlights how Chambers of Commerce in the USA ensures the continuation, growth and replication of ethnic small businesses through cultural networking competence.
{"title":"Ethnic chambers of commerce and co-creation of value: a synthesis of cultural and networking competencies","authors":"Esi A. Elliot, Robert S. Smith, Pelin Bicen","doi":"10.1108/jrme-03-2022-0036","DOIUrl":"https://doi.org/10.1108/jrme-03-2022-0036","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to explore and understand how Chambers of Commerce enhance networking among ethnic small businesses and enable the co-creation of value. This study contributes to extant research through the emergence of the concept of cultural networking competence. This study highlights how Chambers of Commerce in the USA ensures the continuation, growth and replication of ethnic small businesses through cultural networking competence.\u0000\u0000\u0000Design/methodology/approach\u0000This study investigates the research question by conducting qualitative research and adopting an interpretive approach of investigation in the Hispanic Chamber of Commerce in Chicago. Subjects were recruited using purposive sampling techniques via community links.\u0000\u0000\u0000Findings\u0000Findings show the existence of four different types of value in line with Holbrook’s typology of value – utilitarian, social, emotional and altruistic value. Because these values are culturally related, this study regards these values as cultural networking competence, which differs from general networking competence due to its focus on culture. With cultural networking competence, ethnic firms benefit from access to new domains, the creation of new opportunities, an improved effectiveness in achieving objectives beyond their own ethnic networks and the resources of other actors that can be leveraged for wider impact.\u0000\u0000\u0000Originality/value\u0000This study contributes to extant research through the emergence of the concept of cultural networking competence. This study highlights how Chambers of Commerce in the USA ensures the continuation, growth and replication of ethnic small businesses through cultural networking competence.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44274572","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 : 2022-09-23DOI: 10.1108/jrme-04-2021-0037
Tera L. Galloway, Douglas R. Miller
Purpose This paper aims to examine the impact of a firm’s governance characteristics on the signals released during the initial public offering (IPO) process. This paper focuses on the role of the firm’s founder and how different signals convey or diminish agency issues of adverse selection and moral hazard prior to IPO. This study also explores the performance impact (underpricing) of firm founder involvement on signal effectiveness. Design/methodology/approach This paper examines 122 firms during the IPO process to determine the influence that the founder’s presence, position and ownership has on signaling behaviors as well as on firm performance. Findings The authors find that founders influence how often the firm files amendments to the prospectus. Furthermore, the results suggest that agency-reducing signals are complicated and can interact to enhance either positive or negative signals that impact underpricing at IPO. Research limitations/implications The findings offer insights concerning how signalers can more effectively manage multiple signals that may interact negatively with firm characteristics. This study also provides contributions to both signaling and agency theories, discusses implications for practitioners and suggests opportunities for future research. Practical implications This has important implications for founders and managers of firms approaching IPO. The results suggest that founders are better off filing fewer addendums to their S-1 during the IPO process as this decreases underpricing. Underwriters and investors will be interested in these outcomes as identifying signals is an important factor when pricing firm valuation. Similarly, investors seek to identify firms that have a higher likelihood of underpricing because underpricing increases investor recognition and subsequent long-term impact on performance. Originality/value The findings offer insights concerning how signalers can more effectively manage multiple signals that may interact negatively with firm characteristics. The authors extend research in entrepreneurship and marketing by exploring indirect ways firms can communicate to investors using signaling, to increase value during the IPO process. This study provides contributions to both signaling and agency theories, discusses implications for practitioners and suggests opportunities for future research.
{"title":"The effectiveness of founder signals and firm performance during the IPO process","authors":"Tera L. Galloway, Douglas R. Miller","doi":"10.1108/jrme-04-2021-0037","DOIUrl":"https://doi.org/10.1108/jrme-04-2021-0037","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine the impact of a firm’s governance characteristics on the signals released during the initial public offering (IPO) process. This paper focuses on the role of the firm’s founder and how different signals convey or diminish agency issues of adverse selection and moral hazard prior to IPO. This study also explores the performance impact (underpricing) of firm founder involvement on signal effectiveness.\u0000\u0000\u0000Design/methodology/approach\u0000This paper examines 122 firms during the IPO process to determine the influence that the founder’s presence, position and ownership has on signaling behaviors as well as on firm performance.\u0000\u0000\u0000Findings\u0000The authors find that founders influence how often the firm files amendments to the prospectus. Furthermore, the results suggest that agency-reducing signals are complicated and can interact to enhance either positive or negative signals that impact underpricing at IPO.\u0000\u0000\u0000Research limitations/implications\u0000The findings offer insights concerning how signalers can more effectively manage multiple signals that may interact negatively with firm characteristics. This study also provides contributions to both signaling and agency theories, discusses implications for practitioners and suggests opportunities for future research.\u0000\u0000\u0000Practical implications\u0000This has important implications for founders and managers of firms approaching IPO. The results suggest that founders are better off filing fewer addendums to their S-1 during the IPO process as this decreases underpricing. Underwriters and investors will be interested in these outcomes as identifying signals is an important factor when pricing firm valuation. Similarly, investors seek to identify firms that have a higher likelihood of underpricing because underpricing increases investor recognition and subsequent long-term impact on performance.\u0000\u0000\u0000Originality/value\u0000The findings offer insights concerning how signalers can more effectively manage multiple signals that may interact negatively with firm characteristics. The authors extend research in entrepreneurship and marketing by exploring indirect ways firms can communicate to investors using signaling, to increase value during the IPO process. This study provides contributions to both signaling and agency theories, discusses implications for practitioners and suggests opportunities for future research.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45388566","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}
Purpose This paper aims to examine the growth rates of small- and medium-sized enterprises (SMEs) over a three-year period, the relationship between firm size and firm growth in the context of SMEs, and the effect of marketing capability (MC) on firm growth and how it relates to firm size. The theoretical framework is based on the resource-based view and dynamic capabilities. Design/methodology/approach Data were gathered from Finnish SMEs (n = 214) and analyzed with Latent growth curve modeling (structural equation modeling). Respondents were chief executive officers or company owners. Findings Results show that firm size is unrelated to the rate of change, and MC has a significant effect on both the intercept and slope parameters. Smaller SMEs have less MC than larger SMEs. Practical implications While the overall human resources level of the SME is not linked to the rate of growth, MC is. This is an important point for small business growth studies, for it shows what type of personnel is called for during rapid growth. SMEs could advance significantly and rapidly if they invest in versatile human capital, especially in the marketing area. Originality/value Majority of the MC research involves larger corporations. This study brings new insights from SME perspective. In addition, this study suggests that it is imperative to consider different types of growth separately. This study contributes to this need by demonstrating the connection between employee growth rate and MC in SMEs.
{"title":"Marketing first? The role of marketing capability in SME growth","authors":"Sanna Joensuu-Salo, Anmari Viljamaa, Emilia Kangas","doi":"10.1108/jrme-05-2021-0070","DOIUrl":"https://doi.org/10.1108/jrme-05-2021-0070","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine the growth rates of small- and medium-sized enterprises (SMEs) over a three-year period, the relationship between firm size and firm growth in the context of SMEs, and the effect of marketing capability (MC) on firm growth and how it relates to firm size. The theoretical framework is based on the resource-based view and dynamic capabilities.\u0000\u0000\u0000Design/methodology/approach\u0000Data were gathered from Finnish SMEs (n = 214) and analyzed with Latent growth curve modeling (structural equation modeling). Respondents were chief executive officers or company owners.\u0000\u0000\u0000Findings\u0000Results show that firm size is unrelated to the rate of change, and MC has a significant effect on both the intercept and slope parameters. Smaller SMEs have less MC than larger SMEs.\u0000\u0000\u0000Practical implications\u0000While the overall human resources level of the SME is not linked to the rate of growth, MC is. This is an important point for small business growth studies, for it shows what type of personnel is called for during rapid growth. SMEs could advance significantly and rapidly if they invest in versatile human capital, especially in the marketing area.\u0000\u0000\u0000Originality/value\u0000Majority of the MC research involves larger corporations. This study brings new insights from SME perspective. In addition, this study suggests that it is imperative to consider different types of growth separately. This study contributes to this need by demonstrating the connection between employee growth rate and MC in SMEs.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48861601","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 : 2022-09-12DOI: 10.1108/jrme-08-2021-0098
Julia Woehler, Cornelia Ernst
Purpose Existing literature shows that marketing capabilities of new ventures are critical success factors affecting venture capital funding, startup performance and business failure. The purpose of this study is to investigate whether venture capitalists reward extensive marketing strategies in their startup valuation and whether the marketing mix planning and early strategies on customer orientation predict long-term development of startups. Design/methodology/approach To address these gaps, this study investigate 107 business plans of new ventures which received venture capital based on these planning documents. The authors use computer-aided text analysis and regression analyses. Findings This study’s findings show that customer orientation has positive effects on new venture performance and intensive marketing mix planning increases the likelihood of survival. However, venture capitalists decrease their startup valuation when they read too much about customer orientation and operative marketing mix planning. Originality/value This study relies on unique internal documents and therefore provides valuable and new insights for research and practice. Further, this study investigate various short- and long-term effects from marketing and customer orientation for a startups’ development.
{"title":"The importance of marketing mix planning and customer orientation for venture capital–financed startups: impacts on valuation, performance, and survival","authors":"Julia Woehler, Cornelia Ernst","doi":"10.1108/jrme-08-2021-0098","DOIUrl":"https://doi.org/10.1108/jrme-08-2021-0098","url":null,"abstract":"\u0000Purpose\u0000Existing literature shows that marketing capabilities of new ventures are critical success factors affecting venture capital funding, startup performance and business failure. The purpose of this study is to investigate whether venture capitalists reward extensive marketing strategies in their startup valuation and whether the marketing mix planning and early strategies on customer orientation predict long-term development of startups.\u0000\u0000\u0000Design/methodology/approach\u0000To address these gaps, this study investigate 107 business plans of new ventures which received venture capital based on these planning documents. The authors use computer-aided text analysis and regression analyses.\u0000\u0000\u0000Findings\u0000This study’s findings show that customer orientation has positive effects on new venture performance and intensive marketing mix planning increases the likelihood of survival. However, venture capitalists decrease their startup valuation when they read too much about customer orientation and operative marketing mix planning.\u0000\u0000\u0000Originality/value\u0000This study relies on unique internal documents and therefore provides valuable and new insights for research and practice. Further, this study investigate various short- and long-term effects from marketing and customer orientation for a startups’ development.\u0000","PeriodicalId":45322,"journal":{"name":"Journal of Research in Marketing and Entrepreneurship","volume":" ","pages":""},"PeriodicalIF":1.9,"publicationDate":"2022-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48301725","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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