Pub Date : 2024-02-02DOI: 10.1177/10422587241227051
Daniel Blaseg, Armin Schwienbacher
Nascent entrepreneurs often believe that their chances of success are better than those of others due to imperfect information about the competencies and accomplishments of other entrepreneurs, leading to overplacement. Theory suggests that the provision of historical outcome data of comparable projects could help entrepreneurs develop more realistic plans and expectations by closing the information gap and enabling the calibration of their beliefs. However, effectively calibrating beliefs by incorporating new reference information requires effortful cognitive processing and rational integration of the data, which may be impeded by the same cognitive biases leading to overplacement initially. Drawing from a unique dataset that allows us to observe substantial parts of the planning process of 971 entrepreneurs, we investigate the effectiveness of providing reference values as a debiasing tool. Rather than rationally leveraging the information for honest self-assessment, our findings suggest that entrepreneurs use the information to differentiate themselves even more from the reference group after they see the historical values. This, in turn, results in an even higher level of overplacement. G41, D91, L26, L25.
{"title":"Biased Calibration: Exacerbating Instead of Mitigating Entrepreneurial Overplacement with Reference Values","authors":"Daniel Blaseg, Armin Schwienbacher","doi":"10.1177/10422587241227051","DOIUrl":"https://doi.org/10.1177/10422587241227051","url":null,"abstract":"Nascent entrepreneurs often believe that their chances of success are better than those of others due to imperfect information about the competencies and accomplishments of other entrepreneurs, leading to overplacement. Theory suggests that the provision of historical outcome data of comparable projects could help entrepreneurs develop more realistic plans and expectations by closing the information gap and enabling the calibration of their beliefs. However, effectively calibrating beliefs by incorporating new reference information requires effortful cognitive processing and rational integration of the data, which may be impeded by the same cognitive biases leading to overplacement initially. Drawing from a unique dataset that allows us to observe substantial parts of the planning process of 971 entrepreneurs, we investigate the effectiveness of providing reference values as a debiasing tool. Rather than rationally leveraging the information for honest self-assessment, our findings suggest that entrepreneurs use the information to differentiate themselves even more from the reference group after they see the historical values. This, in turn, results in an even higher level of overplacement. G41, D91, L26, L25.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139808879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-02DOI: 10.1177/10422587241227051
Daniel Blaseg, Armin Schwienbacher
Nascent entrepreneurs often believe that their chances of success are better than those of others due to imperfect information about the competencies and accomplishments of other entrepreneurs, leading to overplacement. Theory suggests that the provision of historical outcome data of comparable projects could help entrepreneurs develop more realistic plans and expectations by closing the information gap and enabling the calibration of their beliefs. However, effectively calibrating beliefs by incorporating new reference information requires effortful cognitive processing and rational integration of the data, which may be impeded by the same cognitive biases leading to overplacement initially. Drawing from a unique dataset that allows us to observe substantial parts of the planning process of 971 entrepreneurs, we investigate the effectiveness of providing reference values as a debiasing tool. Rather than rationally leveraging the information for honest self-assessment, our findings suggest that entrepreneurs use the information to differentiate themselves even more from the reference group after they see the historical values. This, in turn, results in an even higher level of overplacement. G41, D91, L26, L25.
{"title":"Biased Calibration: Exacerbating Instead of Mitigating Entrepreneurial Overplacement with Reference Values","authors":"Daniel Blaseg, Armin Schwienbacher","doi":"10.1177/10422587241227051","DOIUrl":"https://doi.org/10.1177/10422587241227051","url":null,"abstract":"Nascent entrepreneurs often believe that their chances of success are better than those of others due to imperfect information about the competencies and accomplishments of other entrepreneurs, leading to overplacement. Theory suggests that the provision of historical outcome data of comparable projects could help entrepreneurs develop more realistic plans and expectations by closing the information gap and enabling the calibration of their beliefs. However, effectively calibrating beliefs by incorporating new reference information requires effortful cognitive processing and rational integration of the data, which may be impeded by the same cognitive biases leading to overplacement initially. Drawing from a unique dataset that allows us to observe substantial parts of the planning process of 971 entrepreneurs, we investigate the effectiveness of providing reference values as a debiasing tool. Rather than rationally leveraging the information for honest self-assessment, our findings suggest that entrepreneurs use the information to differentiate themselves even more from the reference group after they see the historical values. This, in turn, results in an even higher level of overplacement. G41, D91, L26, L25.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139869189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-02DOI: 10.1177/10422587241227072
Gustav Hägg, Vera Haataja, A. Kurczewska, Alexander McKelvie
Entrepreneurs have been promoted as a main engine of progress. However, recent scandals and questionable behavior have led to increased discussion of entrepreneurs’ ethics. The purpose of this paper is to conceptualize entrepreneurial responsibility throughout the entrepreneurial process from an ethical viewpoint. We model entrepreneurial responsibility based on normative ethics (deontology and teleology), enabling us to better understand entrepreneurs’ active and conscious responses to their ethical duties and the consequences thereof. Our theorizing opens new avenues for scholarly research related to the ethical nature of opportunities, the interconnection of entrepreneurial intentions and outcomes from a moral perspective, and potential societal impact.
{"title":"Entrepreneurial Responsibility: A Conceptual Framework to Understand Ethical Dualism Throughout the Entrepreneurial Process","authors":"Gustav Hägg, Vera Haataja, A. Kurczewska, Alexander McKelvie","doi":"10.1177/10422587241227072","DOIUrl":"https://doi.org/10.1177/10422587241227072","url":null,"abstract":"Entrepreneurs have been promoted as a main engine of progress. However, recent scandals and questionable behavior have led to increased discussion of entrepreneurs’ ethics. The purpose of this paper is to conceptualize entrepreneurial responsibility throughout the entrepreneurial process from an ethical viewpoint. We model entrepreneurial responsibility based on normative ethics (deontology and teleology), enabling us to better understand entrepreneurs’ active and conscious responses to their ethical duties and the consequences thereof. Our theorizing opens new avenues for scholarly research related to the ethical nature of opportunities, the interconnection of entrepreneurial intentions and outcomes from a moral perspective, and potential societal impact.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139809244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-01DOI: 10.1177/10422587231226113
Andrea Kuiken, Lucia Naldi, M. Genedy
Intermittent exporting (repeatedly exiting and reentering foreign markets) is often associated with the initial stages of internationalization. However, some small and medium-sized enterprises (SMEs), including family firms, pursue an intermittent exporting strategy beyond the initial stages. Drawing on a refinement of the behavioral agency model (BAM) and real options reasoning, we theorize that a high level of family involvement in SMEs is positively associated with intermittent exporting. We also argue that this relationship is moderated by Chief Executive Officers (CEOs) and board members with a foreign background. We test our hypotheses using a unique longitudinal dataset of Swedish SMEs in the manufacturing and retail industries.
{"title":"Keeping One’s Options Open: Intermittent Exporting, Family Control, and Foreign Background","authors":"Andrea Kuiken, Lucia Naldi, M. Genedy","doi":"10.1177/10422587231226113","DOIUrl":"https://doi.org/10.1177/10422587231226113","url":null,"abstract":"Intermittent exporting (repeatedly exiting and reentering foreign markets) is often associated with the initial stages of internationalization. However, some small and medium-sized enterprises (SMEs), including family firms, pursue an intermittent exporting strategy beyond the initial stages. Drawing on a refinement of the behavioral agency model (BAM) and real options reasoning, we theorize that a high level of family involvement in SMEs is positively associated with intermittent exporting. We also argue that this relationship is moderated by Chief Executive Officers (CEOs) and board members with a foreign background. We test our hypotheses using a unique longitudinal dataset of Swedish SMEs in the manufacturing and retail industries.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139685571","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Entrepreneurial energy, the level of energetic activation that a founder feels for building their venture, is an important indicator of a founder’s well-being. Changes in entrepreneurial energy have wide-ranging consequences for both founders and their ventures, yet much remains to be learned about how and why such fluctuations might occur, as well as the role of social dynamics in influencing fluctuations in entrepreneurial energy. To investigate these questions, we draw on longitudinal data from 38 founders, developing a dynamic model of entrepreneurial energy. Our study contributes to research on entrepreneurial energy and well-being, as well as energetic activation more generally.
{"title":"Towards a Dynamic Model of Entrepreneurial Energy","authors":"Aishwarya Kakatkar, Holger Patzelt, Nicola Breugst","doi":"10.1177/10422587231224197","DOIUrl":"https://doi.org/10.1177/10422587231224197","url":null,"abstract":"Entrepreneurial energy, the level of energetic activation that a founder feels for building their venture, is an important indicator of a founder’s well-being. Changes in entrepreneurial energy have wide-ranging consequences for both founders and their ventures, yet much remains to be learned about how and why such fluctuations might occur, as well as the role of social dynamics in influencing fluctuations in entrepreneurial energy. To investigate these questions, we draw on longitudinal data from 38 founders, developing a dynamic model of entrepreneurial energy. Our study contributes to research on entrepreneurial energy and well-being, as well as energetic activation more generally.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139943257","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-29DOI: 10.1177/10422587231218194
Zineb Aouni, Marek Hudon, Anaïs Périlleux, Tyler Wry
Unlike traditional investing, where decisions follow a clear financial calculus, it is unclear how and why funders support hybrid ventures. To address this question, we analyze the varied priority that investors place on social impact versus financial returns and draw on categories theory to argue that different priority orderings associate with different perceptions of how hybridity aligns with different investment goals. Results show that funders who prioritize financial goals react positively when they perceive a venture exhibits greater hybridity, whereas funders who prioritize social impact do not. Our findings contribute to research on impact investing, hybrid organizations, and categories theory.
{"title":"Crowdfunding Social Ventures: Who Will Reward (or Punish) Hybridity?","authors":"Zineb Aouni, Marek Hudon, Anaïs Périlleux, Tyler Wry","doi":"10.1177/10422587231218194","DOIUrl":"https://doi.org/10.1177/10422587231218194","url":null,"abstract":"Unlike traditional investing, where decisions follow a clear financial calculus, it is unclear how and why funders support hybrid ventures. To address this question, we analyze the varied priority that investors place on social impact versus financial returns and draw on categories theory to argue that different priority orderings associate with different perceptions of how hybridity aligns with different investment goals. Results show that funders who prioritize financial goals react positively when they perceive a venture exhibits greater hybridity, whereas funders who prioritize social impact do not. Our findings contribute to research on impact investing, hybrid organizations, and categories theory.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139938976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-24DOI: 10.1177/10422587231226111
Ruijie Jin, Helen Wei Hu
Many family firms trace the origin of their property rights to the privatization of state-owned enterprises, particularly in emerging economies. The benefits of such ownership origins have been amply researched; however, there are also disadvantages. By developing the concept of the liability of ownership origin, we theorize that this liability creates legitimacy challenges for privatized family firms, leading their owners to exhibit a lower desire for both family and transgenerational control compared to de novo family firms. However, corporate philanthropy can mitigate these negative effects. Empirical analyses using a national survey of Chinese family-owned firms support our arguments.
{"title":"Liability of Ownership Origin, Corporate Philanthropy, and Desire for Control in Chinese Family Firms","authors":"Ruijie Jin, Helen Wei Hu","doi":"10.1177/10422587231226111","DOIUrl":"https://doi.org/10.1177/10422587231226111","url":null,"abstract":"Many family firms trace the origin of their property rights to the privatization of state-owned enterprises, particularly in emerging economies. The benefits of such ownership origins have been amply researched; however, there are also disadvantages. By developing the concept of the liability of ownership origin, we theorize that this liability creates legitimacy challenges for privatized family firms, leading their owners to exhibit a lower desire for both family and transgenerational control compared to de novo family firms. However, corporate philanthropy can mitigate these negative effects. Empirical analyses using a national survey of Chinese family-owned firms support our arguments.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139601475","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-24DOI: 10.1177/10422587231226114
Jeffrey A. Chandler, Jacob A. Waddingham, M. Wolfe
Drawing from costless signaling research, we examine the role of virtue language in Airbnb listings. We propose that virtue language espoused by entrepreneurs is beneficial for Airbnb price premiums—but only to a certain extent. Specifically, we argue that virtue language espoused by entrepreneurs has a curvilinear relationship with the price premium of their listings, suggesting that excessive use is seen as dishonest and becomes detrimental to their performance. We also suggest that this relationship is more pronounced when the entrepreneur is perceived to be more credible and when the entrepreneur is venturing into more conservative markets.
{"title":"Virtue Signaling in the Sharing Economy: The Effect of Airbnb Entrepreneurs’ Virtue Language on Airbnb Price Premiums","authors":"Jeffrey A. Chandler, Jacob A. Waddingham, M. Wolfe","doi":"10.1177/10422587231226114","DOIUrl":"https://doi.org/10.1177/10422587231226114","url":null,"abstract":"Drawing from costless signaling research, we examine the role of virtue language in Airbnb listings. We propose that virtue language espoused by entrepreneurs is beneficial for Airbnb price premiums—but only to a certain extent. Specifically, we argue that virtue language espoused by entrepreneurs has a curvilinear relationship with the price premium of their listings, suggesting that excessive use is seen as dishonest and becomes detrimental to their performance. We also suggest that this relationship is more pronounced when the entrepreneur is perceived to be more credible and when the entrepreneur is venturing into more conservative markets.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139601960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-11DOI: 10.1177/10422587231221799
Solvej Lorenzen, M. Gerken, Holger Steinmetz, Jörn H. Block, Marcel Hülsbeck, Friederike Sophie Lux
Our meta-analysis investigates the environmental sustainability performance of family firms (FFs) distinguishing between environmental hand- and footprint and accounting for FF heterogeneity. Based on a sample of 87 primary studies comprising 118,538 firms, we find no significant difference between FFs and non-FFs regarding their overall environmental sustainability performance. Yet, distinguishing between environmental hand- and footprint, we show that FFs have a lower footprint than non-FFs but do not differ regarding their handprint. Firm size, being a public firm, and type of family involvement moderate the effects of FF status on environmental sustainability performance. Our research note extends prior meta-analytical evidence and contributes to a more fine-grained and nuanced understanding of the environmental sustainability performance of FFs. Theoretical and managerial implications are discussed.
{"title":"Environmental Sustainability of Family Firms: A Meta-Analysis of Handprint and Footprint","authors":"Solvej Lorenzen, M. Gerken, Holger Steinmetz, Jörn H. Block, Marcel Hülsbeck, Friederike Sophie Lux","doi":"10.1177/10422587231221799","DOIUrl":"https://doi.org/10.1177/10422587231221799","url":null,"abstract":"Our meta-analysis investigates the environmental sustainability performance of family firms (FFs) distinguishing between environmental hand- and footprint and accounting for FF heterogeneity. Based on a sample of 87 primary studies comprising 118,538 firms, we find no significant difference between FFs and non-FFs regarding their overall environmental sustainability performance. Yet, distinguishing between environmental hand- and footprint, we show that FFs have a lower footprint than non-FFs but do not differ regarding their handprint. Firm size, being a public firm, and type of family involvement moderate the effects of FF status on environmental sustainability performance. Our research note extends prior meta-analytical evidence and contributes to a more fine-grained and nuanced understanding of the environmental sustainability performance of FFs. Theoretical and managerial implications are discussed.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139625882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-07DOI: 10.1177/10422587231208621
Wojdan Omran, Sh. Yousafzai
Women face unique challenges in their quest to achieve business success relative to men. Applying the theories of epistemic injustice and intersectionality, this study collectively analyzes the overlapping impacts of identities that complement gender at multiple levels in the context of the oppressive, interconnected power structures of occupation and patriarchy. Our findings explain how the impact of institutional oppressors, through structural and normative discrimination, may cause some Palestinian women entrepreneurs to internalize and accept injustice while others tap into available resources to engage in epistemic resistance.
{"title":"Epistemic Injustice and Epistemic Resistance: An Intersectional Study of Women’s Entrepreneurship Under Occupation and Patriarchy","authors":"Wojdan Omran, Sh. Yousafzai","doi":"10.1177/10422587231208621","DOIUrl":"https://doi.org/10.1177/10422587231208621","url":null,"abstract":"Women face unique challenges in their quest to achieve business success relative to men. Applying the theories of epistemic injustice and intersectionality, this study collectively analyzes the overlapping impacts of identities that complement gender at multiple levels in the context of the oppressive, interconnected power structures of occupation and patriarchy. Our findings explain how the impact of institutional oppressors, through structural and normative discrimination, may cause some Palestinian women entrepreneurs to internalize and accept injustice while others tap into available resources to engage in epistemic resistance.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138590835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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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