{"title":"Entrepreneurship as Trust","authors":"T. Mickiewicz, Anna Rebmann","doi":"10.1561/0300000088","DOIUrl":"https://doi.org/10.1561/0300000088","url":null,"abstract":"","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"11 1","pages":"244-309"},"PeriodicalIF":2.8,"publicationDate":"2020-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90465255","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}
This work reviews the literature on entrepreneurial borrowing. The dynamic concept of the “entrepreneurial credit journey†is developed to frame the discussion of supply and demand side issues affecting entrepreneurial borrowing. The entrepreneurial credit journey follows the entrepreneur from the development of credit needs, through application and lending decisions and, beyond, to the consequences of these earlier decisions for firm performance. The literature has traditionally focussed on the lending decision stage, including: problems of credit rationing which may arise due to asymmetric information; and lending technologies to reduce information issues. However, on the demand side, discouraged borrowers, who decide not to apply for fear of rejection, have received increasing attention. There is also greater attention to issues of entrepreneurial cognition (e.g., over-optimism, illusion of control) which may adversely affect borrowing decisions. In terms of the firm performance effects of credit access, the review highlights the widely used internal finance approach to testing financial constraints is unidentified because it is unable to disentangle financial from cognitive constraints. An alternative, more direct, external funding gaps test of underinvestment is therefore proposed. The policy literature is also reviewed which suggests that assistance in the form of loan guarantees has been both finance and economic additional (i.e., providing entrepreneurs with credit they cannot get elsewhere and helping to create jobs that would not otherwise have been created) especially following the Great Financial Crisis. A discussion of the literature relating to underrepresented groups in the entrepreneurial credit market highlights that female and ethnic minority entrepreneurs may receive less credit, and/or pay a higher rate on the credit they receive, than their male or white counterparts. This speaks to ongoing issues of gender stereotypes and ethnic discrimination in the credit market. The increasing role of peer-to-peer lending following the Great Financial Crisis, and its potential for ‘democratizing entrepreneurial finance’, is discussed. This literature highlights that, while peer-to-peer lending is helping to fill credit gaps following the Great Financial Crisis, there are issues relating to the performance of small business peer-to-peer loans and possible issues of ethnic discrimination. The review concludes with proposals for future research on entrepreneurial borrowing, including: collecting more data relating to entrepreneurial credit journeys; developing tests for the presence of information asymmetries and the nature of selection in entrepreneurial credit markets; testing relationships between stages of the entrepreneurial credit journey (e.g., to shed light on the causes of discouragement); developing tests which disentangle financial from cognitive constraints; and researching entrepreneurial and bank learning over recurrent
{"title":"Entrepreneurial Borrowing: Do Entrepreneurs Seek and Receive Enough Credit?","authors":"Stuart A. Fraser","doi":"10.1561/0300000076","DOIUrl":"https://doi.org/10.1561/0300000076","url":null,"abstract":"This work reviews the literature on entrepreneurial borrowing. The dynamic concept of the “entrepreneurial credit journey†is developed to frame the discussion of supply and demand side issues affecting entrepreneurial borrowing. The entrepreneurial credit journey follows the entrepreneur from the development of credit needs, through application and lending decisions and, beyond, to the consequences of these earlier decisions for firm performance. The literature has traditionally focussed on the lending decision stage, including: problems of credit rationing which may arise due to asymmetric information; and lending technologies to reduce information issues. However, on the demand side, discouraged borrowers, who decide not to apply for fear of rejection, have received increasing attention. There is also greater attention to issues of entrepreneurial cognition (e.g., over-optimism, illusion of control) which may adversely affect borrowing decisions. In terms of the firm performance effects of credit access, the review highlights the widely used internal finance approach to testing financial constraints is unidentified because it is unable to disentangle financial from cognitive constraints. An alternative, more direct, external funding gaps test of underinvestment is therefore proposed. The policy literature is also reviewed which suggests that assistance in the form of loan guarantees has been both finance and economic additional (i.e., providing entrepreneurs with credit they cannot get elsewhere and helping to create jobs that would not otherwise have been created) especially following the Great Financial Crisis. A discussion of the literature relating to underrepresented groups in the entrepreneurial credit market highlights that female and ethnic minority entrepreneurs may receive less credit, and/or pay a higher rate on the credit they receive, than their male or white counterparts. This speaks to ongoing issues of gender stereotypes and ethnic discrimination in the credit market. The increasing role of peer-to-peer lending following the Great Financial Crisis, and its potential for ‘democratizing entrepreneurial finance’, is discussed. This literature highlights that, while peer-to-peer lending is helping to fill credit gaps following the Great Financial Crisis, there are issues relating to the performance of small business peer-to-peer loans and possible issues of ethnic discrimination. The review concludes with proposals for future research on entrepreneurial borrowing, including: collecting more data relating to entrepreneurial credit journeys; developing tests for the presence of information asymmetries and the nature of selection in entrepreneurial credit markets; testing relationships between stages of the entrepreneurial credit journey (e.g., to shed light on the causes of discouragement); developing tests which disentangle financial from cognitive constraints; and researching entrepreneurial and bank learning over recurrent ","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1561/0300000076","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67068643","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}
Management scholars are focusing greater research attention on innovation within firms. Innovation is now viewed as critical for firms to maintain their competitiveness. In this paper our focus is to provide a management disciplinary perspective on innovation. In doing so we consider the purpose of innovation, some definitions of innovation and review some contemporary issues including management innovation, business model innovation, sources of innovation and open innovation. We then consider leadership, organizational culture and underground innovation before we conclude with some future research avenues. We suggest that management scholars should focus future research on innovation on managerial power dynamics, managerial support for underground innovation, managerial characteristics, experiences, leadership styles and behaviors of R&D managers and innovation
{"title":"Disciplinary Perspectives on\u0000Innovation: Management","authors":"James A. Cunningham, Grace S. Walsh","doi":"10.1561/0300000085-3","DOIUrl":"https://doi.org/10.1561/0300000085-3","url":null,"abstract":"Management scholars are focusing greater research attention on innovation within firms. Innovation is now viewed as critical for firms to maintain their competitiveness. In this paper our focus is to provide a management disciplinary perspective on innovation. In doing so we consider the purpose of innovation, some definitions of innovation and review some contemporary issues including management innovation, business model innovation, sources of innovation and open innovation. We then consider leadership, organizational culture and underground innovation before we conclude with some future research avenues. We suggest that management scholars should focus future research on innovation on managerial power dynamics, managerial support for underground innovation, managerial characteristics, experiences, leadership styles and behaviors of R&D managers and innovation","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1561/0300000085-3","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67068796","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}
This study focuses on the impact of knowledge collaboration and knowledge spillovers on the innovative performance of Schumpeterian-type firms. Building on the innovation and entrepreneurship literatures, it first examines the innovation strategies used by highly-innovative firms, which can involve knowledge spillovers, knowledge collaborations or both. Secondly, it demonstrates how and why the relationship between knowledge flows and innovative performance changes with geographical proximity between knowledge-source and knowledge-recipient firms and across industries. External collaboration may bestow a significant advantage for innovation, such as helping to leverage the lack of knowledge and technology and teaching skills, but at a cost – the involuntary knowledge outflows to external partners. The results have relevant implications for the academic community, national and European policy-makers, and managers in highly-innovative firms who may want to rethink their innovation strategy.
{"title":"Innovation in Schumpeterian-type\u0000Firms: Knowledge Collaboration or\u0000Knowledge Spillover?","authors":"M. Belitski","doi":"10.1561/0300000085-2","DOIUrl":"https://doi.org/10.1561/0300000085-2","url":null,"abstract":"This study focuses on the impact of knowledge collaboration and knowledge spillovers on the innovative performance of Schumpeterian-type firms. Building on the innovation and entrepreneurship literatures, it first examines the innovation strategies used by highly-innovative firms, which can involve knowledge spillovers, knowledge collaborations or both. Secondly, it demonstrates how and why the relationship between knowledge flows and innovative performance changes with geographical proximity between knowledge-source and knowledge-recipient firms and across industries. \u0000 \u0000External collaboration may bestow a significant advantage for innovation, such as helping to leverage the lack of knowledge and technology and teaching skills, but at a cost – the involuntary knowledge outflows to external partners. The results have relevant implications for the academic community, national and European policy-makers, and managers in highly-innovative firms who may want to rethink their innovation strategy.","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1561/0300000085-2","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67068763","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}
This section presents an overview of the marketing perspective on innovation. From a marketing perspective, the role of innovation in an organization is to create a steady stream of new products and services that meets the needs of customers. The role of marketing is to carry the voice of the customer into the organization, in order to infuse decisions with this customer-centric perspective. The marketing discipline offers a number of different lenses through which innovation is studied, including acustomer lens (e.g., factors that affect customersâ decisions to adopt innovation and different categories of adopters; the rate and trajectory of adoption and diffusion of innovations; various research protocols and tools to study customer needs and perceptions of innovation; and the intersection of innovation and consumption from a cultural perspective); acompany lens (e.g., the new product development process, product launch strategies, the interactions between marketing personnel and engineering/RDan inter-firm relationship lens (including the role of suppliers, alliance/partners, channel retailers and distributors, and innovation ecosystem partners); and the lens of thebroader market environment (such as government labs, industry consortia, etc.). In addition, this section identifies future opportunity areas where marketing can offer its distinctive perspective on innovation, including, for example, the role of social influencers in adoption of innovation; data-driven innovation; new types of innovation (reverse innovation, sustainable innovation, social innovation, and business model innovation); platform innovations/ innovation ecosystems; and biomimicry.
{"title":"A Marketing Perspective on\u0000Innovation: For Disciplinary Perspectives on Innovation","authors":"Jakki J. Mohr","doi":"10.1561/0300000085-4","DOIUrl":"https://doi.org/10.1561/0300000085-4","url":null,"abstract":"This section presents an overview of the marketing perspective on innovation. From a marketing perspective, the role of innovation in an organization is to create a steady stream of new products and services that meets the needs of customers. The role of marketing is to carry the voice of the customer into the organization, in order to infuse decisions with this customer-centric perspective. The marketing discipline offers a number of different lenses through which innovation is studied, including acustomer lens (e.g., factors that affect customersâ decisions to adopt innovation and different categories of adopters; the rate and trajectory of adoption and diffusion of innovations; various research protocols and tools to study customer needs and perceptions of innovation; and the intersection of innovation and consumption from a cultural perspective); acompany lens (e.g., the new product development process, product launch strategies, the interactions between marketing personnel and engineering/RDan inter-firm relationship lens (including the role of suppliers, alliance/partners, channel retailers and distributors, and innovation ecosystem partners); and the lens of thebroader market environment (such as government labs, industry consortia, etc.). In addition, this section identifies future opportunity areas where marketing can offer its distinctive perspective on innovation, including, for example, the role of social influencers in adoption of innovation; data-driven innovation; new types of innovation (reverse innovation, sustainable innovation, social innovation, and business model innovation); platform innovations/ innovation ecosystems; and biomimicry.","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1561/0300000085-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48013638","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}
Davide Hahn, T. Minola, S. Vismara, Vincenzo De Stasio
The aim of this section is to offer a comprehensive review of research on the financing of innovation. After presenting the challenges associated with financing innovation from a theoretical point of view, the section synthetizes extant literature to show how these challenges constrain the process of raising funds and investing in innovation. The section then describes the role of business angels and venture capital funds, as well as public policy initiatives in support of these investors. Albeit these instruments have been traditionally conceptualized as remedies to these problems, the section also stresses their limitations and critical aspects. Finally, the section provides an overview of the most recent and emerging tools of financing innovation, such as crowd-funding. In particular, we adopt a business-law perspective to describe these instruments and illustrate the trade-off between the protection of investors and the facilitation of innovation, which challenges both scholars and policymakers. The section concludes with a synthetic research agenda with the aim to encourage future research on the functioning of these financial innovations.
{"title":"Financing Innovation: Challenges, Opportunities, and Trends","authors":"Davide Hahn, T. Minola, S. Vismara, Vincenzo De Stasio","doi":"10.1561/0300000085-1","DOIUrl":"https://doi.org/10.1561/0300000085-1","url":null,"abstract":"The aim of this section is to offer a comprehensive review of research on the financing of innovation. After presenting the challenges associated with financing innovation from a theoretical point of view, the section synthetizes extant literature to show how these challenges constrain the process of raising funds and investing in innovation. The section then describes the role of business angels and venture capital funds, as well as public policy initiatives in support of these investors. Albeit these instruments have been traditionally conceptualized as remedies to these problems, the section also stresses their limitations and critical aspects. Finally, the section provides an overview of the most recent and emerging tools of financing innovation, such as crowd-funding. In particular, we adopt a business-law perspective to describe these instruments and illustrate the trade-off between the protection of investors and the facilitation of innovation, which challenges both scholars and policymakers. The section concludes with a synthetic research agenda with the aim to encourage future research on the functioning of these financial innovations.","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1561/0300000085-1","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67068756","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 : 2019-08-01DOI: 10.5465/AMBPP.2019.14185ABSTRACT
S. Pruthi, A. Basu
From Ethnic Enclaves to Transnational Landscapes: A Review of Immigrant Entrepreneurship Research
从民族飞地到跨国景观:移民创业研究述评
{"title":"From Ethnic Enclaves to Transnational Landscapes: A Review of Immigrant Entrepreneurship Research","authors":"S. Pruthi, A. Basu","doi":"10.5465/AMBPP.2019.14185ABSTRACT","DOIUrl":"https://doi.org/10.5465/AMBPP.2019.14185ABSTRACT","url":null,"abstract":"From Ethnic Enclaves to Transnational Landscapes: A Review of Immigrant Entrepreneurship Research","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70697102","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}
This study analyzes the economic impact of MIT alumnifounded companies and highlights the key trends in the MIT entrepreneurial ecosystem between 1950 and 2014. Based on a large-scale survey of all living MIT alumni in 2014, this study is a major update to Roberts and Eesley (2011). It systematically characterizes alumni engagement in the broader innovation ecosystem through not only starting new companies, but also patenting, investing as angel investors, and joining startup firms as early employees. We highlight the role of foreign-born students as entrepreneurs and innovators as well as key trends in the alumni-founded ventures’ industry composition, firm performance, and economic impact through job creation and sales. Based on the lessons from MIT in the past 60 years, we discuss various implications for university leadership for designing and implementing educational curricula and programs that address the evolving nature of alumni entrepreneurship and innovation. Lastly, the appendix describes our methodological approach to extrapolating survey results and contributes to the literature on survey-based research methods.
{"title":"Entrepreneurship and Innovation at MIT: Continuing Global Growth and Impact—An Updated Report","authors":"E. Roberts, Fiona E. Murray, J. D. Kim","doi":"10.1561/0300000093","DOIUrl":"https://doi.org/10.1561/0300000093","url":null,"abstract":"This study analyzes the economic impact of MIT alumnifounded companies and highlights the key trends in the MIT entrepreneurial ecosystem between 1950 and 2014. Based on a large-scale survey of all living MIT alumni in 2014, this study is a major update to Roberts and Eesley (2011). It systematically characterizes alumni engagement in the broader innovation ecosystem through not only starting new companies, but also patenting, investing as angel investors, and joining startup firms as early employees. We highlight the role of foreign-born students as entrepreneurs and innovators as well as key trends in the alumni-founded ventures’ industry composition, firm performance, and economic impact through job creation and sales. Based on the lessons from MIT in the past 60 years, we discuss various implications for university leadership for designing and implementing educational curricula and programs that address the evolving nature of alumni entrepreneurship and innovation. Lastly, the appendix describes our methodological approach to extrapolating survey results and contributes to the literature on survey-based research methods.","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1561/0300000093","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67069258","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}
The interplay between innovation, knowledge and entrepreneurship constitutes a major driver of the economic, social and cultural development in modern societies and has major implications for public policy. To understand these broad trends, a novel literature on knowledge-intensive innovative entrepreneurship has recently emerged. In this book we provide a presentation of the key concepts, the relevant empirical findings and the main specific insights. We take a Schumpeterian, evolutionary and innovation system view of entrepreneurship, knowledge and innovation. In the conceptual framework proposed in this book, knowledge-intensive innovative entrepreneurs are involved in the creation, diffusion and use of knowledge; introduce new products and technologies; draw resources and ideas from the innovation system in which they operate; and introduce change and dynamism into the economy. This volume provides detailed insights into the progress made in defining and understanding knowledge-intensive innovative entrepreneurship both theoretically and empirically; in discussing the current analytical understanding and empirical evidence; and in proposing the key directions and topics for future research.
{"title":"Knowledge-Intensive Innovative Entrepreneurship","authors":"F. Malerba, M. McKelvey","doi":"10.1561/0300000075","DOIUrl":"https://doi.org/10.1561/0300000075","url":null,"abstract":"The interplay between innovation, knowledge and entrepreneurship constitutes a major driver of the economic, social and cultural development in modern societies and has major implications for public policy. To understand these broad trends, a novel literature on knowledge-intensive innovative entrepreneurship has recently emerged. In this book we provide a presentation of the key concepts, the relevant empirical findings and the main specific insights. We take a Schumpeterian, evolutionary and innovation system view of entrepreneurship, knowledge and innovation. In the conceptual framework proposed in this book, knowledge-intensive innovative entrepreneurs are involved in the creation, diffusion and use of knowledge; introduce new products and technologies; draw resources and ideas from the innovation system in which they operate; and introduce change and dynamism into the economy. This volume provides detailed insights into the progress made in defining and understanding knowledge-intensive innovative entrepreneurship both theoretically and empirically; in discussing the current analytical understanding and empirical evidence; and in proposing the key directions and topics for future research.","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"1 1","pages":""},"PeriodicalIF":2.8,"publicationDate":"2019-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1561/0300000075","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67069085","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}
Scholarly interest in entrepreneurial activity by older members of society has been rising, reflected in the growing tally of publications about senior entrepreneurship as a distinct form of entrepreneurship. Our goal is to review and communicate the key conceptual approaches and empirical findings about senior entrepreneurs’ characteristics and behaviors, and to propose a research agenda. We analyze the literature by focusing on two research questions. i. What determines senior entrepreneurship? ii. What determines the performance of senior entrepreneurs? Although senior entrepreneurs are not a homogeneous group, they are: more likely driven by non-pecuniary motivations than pecuniary ones; mostly male, married, and with high levels of education attainment. In general, senior entrepreneurs have previous entrepreneurial experience and display high levels of self-efficacy. A shift to self-employment later in life often leads to positive changes on individuals’ quality of life, but negative impacts on income. Existing research is mostly based on data collected to assess entrepreneurs in general and not designed to analyze variables of specific interest for senior subjects. Future research should seek to develop primary data focusing on the relationship between quality of life and performance outcomes, and entrepreneurial activity’s impact on active ageing. Senior entrepreneurship needs to be examined through multidisciplinary lenses including psychology, gerontology, economics, and sociology.
{"title":"Impact: Senior Entrepreneurship: A Selective Review and a Research Agenda","authors":"C. Matos, M. Amaral, R. Baptista","doi":"10.1561/0300000084","DOIUrl":"https://doi.org/10.1561/0300000084","url":null,"abstract":"Scholarly interest in entrepreneurial activity by older members of society has been rising, reflected in the growing tally of publications about senior entrepreneurship as a distinct form of entrepreneurship. Our goal is to review and communicate the key conceptual approaches and empirical findings about senior entrepreneurs’ characteristics and behaviors, and to propose a research agenda. We analyze the literature by focusing on two research questions. i. What determines senior entrepreneurship? ii. What determines the performance of senior entrepreneurs? Although senior entrepreneurs are not a homogeneous group, they are: more likely driven by non-pecuniary motivations than pecuniary ones; mostly male, married, and with high levels of education attainment. In general, senior entrepreneurs have previous entrepreneurial experience and display high levels of self-efficacy. A shift to self-employment later in life often leads to positive changes on individuals’ quality of life, but negative impacts on income. Existing research is mostly based on data collected to assess entrepreneurs in general and not designed to analyze variables of specific interest for senior subjects. Future research should seek to develop primary data focusing on the relationship between quality of life and performance outcomes, and entrepreneurial activity’s impact on active ageing. Senior entrepreneurship needs to be examined through multidisciplinary lenses including psychology, gerontology, economics, and sociology.","PeriodicalId":45990,"journal":{"name":"Foundations and Trends in Entrepreneurship","volume":"14 1","pages":"427-554"},"PeriodicalIF":2.8,"publicationDate":"2018-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75376408","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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