Abstract In today’s increasingly competitive environment, the franchisee’s ability to respond to the local market (i.e. market responsiveness) plays an important role in sustaining competitive advantage. Grounded in strategic entrepreneurship with entrepreneurial orientation (EO) and the dynamic capability perspective, this study extends research on how EO and the franchisee’s market responsiveness improves franchised-outlet performance. The internal process through which the franchisee’s perceptions of the franchisor’s EO and franchisees’ EO affect franchisees’ financial performance were examined, revealing that the franchisee’s perception of the franchisor’s EO had a direct effect on franchisees’ financial performance but an indirect effect on franchisees’ financial performance through the franchisee’s market responsiveness. Interestingly, the franchisee’s EO was found to have only an indirect effect on franchisees’ financial performance through the franchisee’s market responsiveness, while the franchisee’s market responsiveness had a positive effect on franchisees’ financial performance. Moreover, a franchisee’s perception of the franchisor’s EO was also found to influence a franchisee’s EO.
{"title":"Entrepreneurial Orientation, Dynamic Capability, and Franchisee Performance: The Role of Market Responsiveness","authors":"Shih-Yi Chien","doi":"10.1515/erj-2021-0194","DOIUrl":"https://doi.org/10.1515/erj-2021-0194","url":null,"abstract":"Abstract In today’s increasingly competitive environment, the franchisee’s ability to respond to the local market (i.e. market responsiveness) plays an important role in sustaining competitive advantage. Grounded in strategic entrepreneurship with entrepreneurial orientation (EO) and the dynamic capability perspective, this study extends research on how EO and the franchisee’s market responsiveness improves franchised-outlet performance. The internal process through which the franchisee’s perceptions of the franchisor’s EO and franchisees’ EO affect franchisees’ financial performance were examined, revealing that the franchisee’s perception of the franchisor’s EO had a direct effect on franchisees’ financial performance but an indirect effect on franchisees’ financial performance through the franchisee’s market responsiveness. Interestingly, the franchisee’s EO was found to have only an indirect effect on franchisees’ financial performance through the franchisee’s market responsiveness, while the franchisee’s market responsiveness had a positive effect on franchisees’ financial performance. Moreover, a franchisee’s perception of the franchisor’s EO was also found to influence a franchisee’s EO.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-08-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86516197","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Everyday ventures are important engines of economic and social development around the world. These types of ventures tend to be resource constrained, focused on regional service areas, and rely almost exclusively on replicative approaches to business. Despite their prevalence, these types of ventures receive far less attention in the literature than their innovative, growth-focused counterparts. Thus, there is still much we do not know about how the entrepreneurs behind these types of ventures approach strategy and measure their success. In this qualitative study, we utilize self-determination theory to interpret interview data and illustrate how venture launch and strategic choice allow everyday entrepreneurs to self-fulfill their psychological needs through their business. Doing so, our research answers questions related to: 1) everyday venture launch; 2) the strategies everyday entrepreneurs pursue to position their venture in the market; and, 3) the metrics by which everyday entrepreneurs measure the success of their venture. We find that everyday entrepreneurs self-fulfill their needs for autonomy, relatedness, and competence by launching their ventures and making specific strategic choices regarding competition. More specifically, we find that everyday entrepreneurs primarily rely on differentiation strategies focused on high-quality offerings coupled with a premium customer service experience, while measuring success using an approach similar to the balanced scorecard. We conclude with a discussion of the implications for theory and practice.
{"title":"Competitive Strategy in Everyday Entrepreneurial Ventures: A Self-determination Theory Perspective","authors":"Corey J. Fox, Steven W. Rayburn","doi":"10.1515/erj-2022-0028","DOIUrl":"https://doi.org/10.1515/erj-2022-0028","url":null,"abstract":"Abstract Everyday ventures are important engines of economic and social development around the world. These types of ventures tend to be resource constrained, focused on regional service areas, and rely almost exclusively on replicative approaches to business. Despite their prevalence, these types of ventures receive far less attention in the literature than their innovative, growth-focused counterparts. Thus, there is still much we do not know about how the entrepreneurs behind these types of ventures approach strategy and measure their success. In this qualitative study, we utilize self-determination theory to interpret interview data and illustrate how venture launch and strategic choice allow everyday entrepreneurs to self-fulfill their psychological needs through their business. Doing so, our research answers questions related to: 1) everyday venture launch; 2) the strategies everyday entrepreneurs pursue to position their venture in the market; and, 3) the metrics by which everyday entrepreneurs measure the success of their venture. We find that everyday entrepreneurs self-fulfill their needs for autonomy, relatedness, and competence by launching their ventures and making specific strategic choices regarding competition. More specifically, we find that everyday entrepreneurs primarily rely on differentiation strategies focused on high-quality offerings coupled with a premium customer service experience, while measuring success using an approach similar to the balanced scorecard. We conclude with a discussion of the implications for theory and practice.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76024166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Should new ventures with limited resources invest in corporate environmental responsibility (CER)? Considering the significance of entrepreneurship’s considerable social and economic influences, this question is critical for both researchers and practitioners. Drawing on signaling theory, we argue that CER is an effective strategy for new ventures to overcome the liability of newness by shaping accountability and professionalism perceived by stakeholders, which in turn enhances their financial performance. Furthermore, this positive impact is reinforced by new ventures’ corporate political activity, whereas institutional pressure weakens such an impact. Using a nationally representative sample of 2,147 Chinese new ventures, these hypotheses are largely found supported. This research makes important theoretical contributions to the entrepreneurship literature by shedding new light on how new ventures overcome the liability of newness, and also extends the environmental management literature by providing a novel and entrepreneurship-based explanation regarding the performance implications of CER.
{"title":"Should Start-Ups Be Green? Corporate Environmental Responsibility, Institutional Contexts, and Financial Performance of New Ventures","authors":"Hui Zhang, Di Song, Ying Chen","doi":"10.1515/erj-2021-0473","DOIUrl":"https://doi.org/10.1515/erj-2021-0473","url":null,"abstract":"Abstract Should new ventures with limited resources invest in corporate environmental responsibility (CER)? Considering the significance of entrepreneurship’s considerable social and economic influences, this question is critical for both researchers and practitioners. Drawing on signaling theory, we argue that CER is an effective strategy for new ventures to overcome the liability of newness by shaping accountability and professionalism perceived by stakeholders, which in turn enhances their financial performance. Furthermore, this positive impact is reinforced by new ventures’ corporate political activity, whereas institutional pressure weakens such an impact. Using a nationally representative sample of 2,147 Chinese new ventures, these hypotheses are largely found supported. This research makes important theoretical contributions to the entrepreneurship literature by shedding new light on how new ventures overcome the liability of newness, and also extends the environmental management literature by providing a novel and entrepreneurship-based explanation regarding the performance implications of CER.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82086411","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Equity crowdfunding has been gaining more and more relevance as an alternative way for entrepreneurs to raise capital. This paper examines the impact of retained equity, business angel backing, grants and intellectual property rights on the success of equity crowdfunding. Using data from Crowdcube, one of the leading equity crowdfunding platforms in the world, we obtain 473 pitches within the period from March 2017 to February 2020. We apply three empirical methods to analyse our data set: logistic regression, multiple linear regression and negative binomial regression. By running univariate test and several regression analyses, we find that retained equity has a significantly negative impact on funding success; also, the support of business angels helps entrepreneurs to achieve a funding success. While winning grants is more likely to attract investors, there is no direct evidence associated with funding success. Furthermore, it turns out that intellectual property rights are not relevant for funding success. In an extension, we re-examine our analysis in the light of the Corona crisis by analysing 95 pitches from March to November 2020. We find no structural changes in relevance of the success factors.
{"title":"Success Factors in Equity Crowdfunding – Evidence from Crowdcube","authors":"Lisha Du, Florian W. Bartholomae, Eva Stumpfegger","doi":"10.1515/erj-2021-0519","DOIUrl":"https://doi.org/10.1515/erj-2021-0519","url":null,"abstract":"Abstract Equity crowdfunding has been gaining more and more relevance as an alternative way for entrepreneurs to raise capital. This paper examines the impact of retained equity, business angel backing, grants and intellectual property rights on the success of equity crowdfunding. Using data from Crowdcube, one of the leading equity crowdfunding platforms in the world, we obtain 473 pitches within the period from March 2017 to February 2020. We apply three empirical methods to analyse our data set: logistic regression, multiple linear regression and negative binomial regression. By running univariate test and several regression analyses, we find that retained equity has a significantly negative impact on funding success; also, the support of business angels helps entrepreneurs to achieve a funding success. While winning grants is more likely to attract investors, there is no direct evidence associated with funding success. Furthermore, it turns out that intellectual property rights are not relevant for funding success. In an extension, we re-examine our analysis in the light of the Corona crisis by analysing 95 pitches from March to November 2020. We find no structural changes in relevance of the success factors.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90873449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Despite the tremendous growth in research on gender stereotyping in the context of entrepreneurship, scholarly understanding of this phenomenon is far from complete. Accordingly, the overarching goal of this paper is to stimulate greater attention to topics that warrant fuller consideration. Of the many paths worth pursuing, we focus on those that we term “Investigating Intersectionalities”, “Mapping Masculinities”, and “Revealing Rationales”. In our coverage of each, we describe the recommended route’s essence and intellectual origins, summarize extant work within the entrepreneurship literature, and raise illustrative questions for future research. We hope our efforts to demarcate these paths encourage their pursuit.
{"title":"Research on Gender Stereotyping and Entrepreneurship: Suggestions for Some Paths Worth Pursuing","authors":"Jennifer E. Jennings, V. Tonoyan","doi":"10.1515/erj-2022-0235","DOIUrl":"https://doi.org/10.1515/erj-2022-0235","url":null,"abstract":"Abstract Despite the tremendous growth in research on gender stereotyping in the context of entrepreneurship, scholarly understanding of this phenomenon is far from complete. Accordingly, the overarching goal of this paper is to stimulate greater attention to topics that warrant fuller consideration. Of the many paths worth pursuing, we focus on those that we term “Investigating Intersectionalities”, “Mapping Masculinities”, and “Revealing Rationales”. In our coverage of each, we describe the recommended route’s essence and intellectual origins, summarize extant work within the entrepreneurship literature, and raise illustrative questions for future research. We hope our efforts to demarcate these paths encourage their pursuit.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89982727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This paper explores women’s entrepreneurship policy and practice in three different countries: Canada, Ireland and the U.S. We focus specifically on policies relating to access to financial capital, and ask: How are ‘access to financial capital’ policies and practices operationalized at national and regional level? We draw on institutional theory to identify gaps in policy and practice, and to highlight similarities and differences between countries. We contribute a novel perspective on women’s entrepreneurship policy by drawing attention to the underlying institutional pillars and the importance of institutional fit in informing a coherent and future-looking policy framework. Our findings enhance understanding of how ‘access to financial capital’ policies and practices geared toward women entrepreneurs reflect different institutional contexts.
{"title":"Women’s Entrepreneurship Policy and Access to Financial Capital in Different Countries: An Institutional Perspective","authors":"C. Henry, S. Coleman, B. Orser, L. Foss","doi":"10.1515/erj-2022-0234","DOIUrl":"https://doi.org/10.1515/erj-2022-0234","url":null,"abstract":"Abstract This paper explores women’s entrepreneurship policy and practice in three different countries: Canada, Ireland and the U.S. We focus specifically on policies relating to access to financial capital, and ask: How are ‘access to financial capital’ policies and practices operationalized at national and regional level? We draw on institutional theory to identify gaps in policy and practice, and to highlight similarities and differences between countries. We contribute a novel perspective on women’s entrepreneurship policy by drawing attention to the underlying institutional pillars and the importance of institutional fit in informing a coherent and future-looking policy framework. Our findings enhance understanding of how ‘access to financial capital’ policies and practices geared toward women entrepreneurs reflect different institutional contexts.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76097156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The topics of gender and entrepreneurship have been of great scholarly interest since the eighties. In this invited editorial, we provide an overview of the evolution of the field of gender and entrepreneurship. Specifically, we consider the evolution of the field by highlighting the importance of context and the need to consider gender in all future research examining’ entrepreneurial activity. Drawing on a contextualized approach we provide an overview of the six articles in this curated special issue with the aim of increasing our understanding of women’s entrepreneurial activity. Finally, we conclude with some suggestions for future research. We hope this invited editorial will spur deeper research at the intersections between gender and entrepreneurship.
{"title":"Gender and Entrepreneurship in the New Era: New Perspectives on the Role of Gender and Entrepreneurial Activity","authors":"M. Mustafa, L. Treanor","doi":"10.1515/erj-2022-0228","DOIUrl":"https://doi.org/10.1515/erj-2022-0228","url":null,"abstract":"Abstract The topics of gender and entrepreneurship have been of great scholarly interest since the eighties. In this invited editorial, we provide an overview of the evolution of the field of gender and entrepreneurship. Specifically, we consider the evolution of the field by highlighting the importance of context and the need to consider gender in all future research examining’ entrepreneurial activity. Drawing on a contextualized approach we provide an overview of the six articles in this curated special issue with the aim of increasing our understanding of women’s entrepreneurial activity. Finally, we conclude with some suggestions for future research. We hope this invited editorial will spur deeper research at the intersections between gender and entrepreneurship.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80595236","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Introduction: Gender and Entrepreneurship","authors":"T. Lyons","doi":"10.1515/erj-2022-2001","DOIUrl":"https://doi.org/10.1515/erj-2022-2001","url":null,"abstract":"","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76145459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
W. Czakon, Patrycja Klimas, V. Tiberius, J. Ferreira, P. Veiga, S. Kraus
Abstract Although entrepreneurial failure (EF) is a fairly recent topic in entrepreneurship literature, the number of publications has been growing dynamically and particularly rapidly. Our systematic review maps and integrates the research on EF based on a multi-method approach to give structure and consistency to this fragmented field of research. The results reveal that the field revolves around six thematic clusters of EF: 1) Soft underpinnings of EF, 2) Contextuality of EF, 3) Perception of EF, 4) Two-sided effects of EF, 5) Multi-stage EF effects, and 6) Institutional drivers of EF. An integrative framework of the positive and negative effects of entrepreneurial failure is proposed, and a research agenda is suggested.
{"title":"Entrepreneurial Failure: Structuring a Widely Overlooked Field of Research","authors":"W. Czakon, Patrycja Klimas, V. Tiberius, J. Ferreira, P. Veiga, S. Kraus","doi":"10.1515/erj-2021-0328","DOIUrl":"https://doi.org/10.1515/erj-2021-0328","url":null,"abstract":"Abstract Although entrepreneurial failure (EF) is a fairly recent topic in entrepreneurship literature, the number of publications has been growing dynamically and particularly rapidly. Our systematic review maps and integrates the research on EF based on a multi-method approach to give structure and consistency to this fragmented field of research. The results reveal that the field revolves around six thematic clusters of EF: 1) Soft underpinnings of EF, 2) Contextuality of EF, 3) Perception of EF, 4) Two-sided effects of EF, 5) Multi-stage EF effects, and 6) Institutional drivers of EF. An integrative framework of the positive and negative effects of entrepreneurial failure is proposed, and a research agenda is suggested.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91131913","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract How do emerging economy SMEs develop Corporate Entrepreneurship (CE)? Emerging economies represent different institutional contexts to those found in developed economies. Currently our understanding of CE and its emergence is rooted in Western-based assumptions. Consequently, our understanding of the inter-relationship between the emerging economy institutional environments and the SME environment and how they shape corporate entrepreneurial process remains lacking. In response to such gaps in our understanding, this study draws on both Institutional and Contingency theories to explore how CE is developed among African SMEs. Drawing on evidence from four indepth case studies of Kenyan SMEs, our findings reveal a complex process wherein elements of the Kenyan institutional environment shape the internal organization and CE related activities of Kenyan SMEs. Our study extends and enriches previous models of CE and deepen our understanding of how and why context matters for CE.
{"title":"The Development of Corporate Entrepreneurship among Emerging Economy SMEs: Insights from Both Institutional and Contingency Theory","authors":"M. Mustafa","doi":"10.1515/erj-2022-0048","DOIUrl":"https://doi.org/10.1515/erj-2022-0048","url":null,"abstract":"Abstract How do emerging economy SMEs develop Corporate Entrepreneurship (CE)? Emerging economies represent different institutional contexts to those found in developed economies. Currently our understanding of CE and its emergence is rooted in Western-based assumptions. Consequently, our understanding of the inter-relationship between the emerging economy institutional environments and the SME environment and how they shape corporate entrepreneurial process remains lacking. In response to such gaps in our understanding, this study draws on both Institutional and Contingency theories to explore how CE is developed among African SMEs. Drawing on evidence from four indepth case studies of Kenyan SMEs, our findings reveal a complex process wherein elements of the Kenyan institutional environment shape the internal organization and CE related activities of Kenyan SMEs. Our study extends and enriches previous models of CE and deepen our understanding of how and why context matters for CE.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":1.9,"publicationDate":"2022-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78838062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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