Pub Date : 2023-08-19DOI: 10.1177/10422587231190712
Raja Singaram, J. Kraaijenbrink, W. Gartner
Using three theory-based performance criteria as decision attributes, we conducted a conjoint analysis experiment with 105 social venture founder-CEOs to examine their decisions to exit their firms voluntarily. Multilevel regression analysis of founders’ choices revealed that various exit preferences were chosen that did not support theoretical prescriptions. While achieving desired social impact was the main influence on founder exit choices, the heterogeneity of exit preferences led us to parcel them into four distinct groups: idealists, traditionalists, realists, and pragmatists. We discuss our contributions to the entrepreneurial exit and social entrepreneurship research literature and list the implications of our results for practice.
{"title":"No Simple Way to Say Goodbye! Untangling the Heterogeneity of Social Venture Founder Exit Intention","authors":"Raja Singaram, J. Kraaijenbrink, W. Gartner","doi":"10.1177/10422587231190712","DOIUrl":"https://doi.org/10.1177/10422587231190712","url":null,"abstract":"Using three theory-based performance criteria as decision attributes, we conducted a conjoint analysis experiment with 105 social venture founder-CEOs to examine their decisions to exit their firms voluntarily. Multilevel regression analysis of founders’ choices revealed that various exit preferences were chosen that did not support theoretical prescriptions. While achieving desired social impact was the main influence on founder exit choices, the heterogeneity of exit preferences led us to parcel them into four distinct groups: idealists, traditionalists, realists, and pragmatists. We discuss our contributions to the entrepreneurial exit and social entrepreneurship research literature and list the implications of our results for practice.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90305643","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 : 2023-07-04DOI: 10.1177/10422587231184071
J. Schüler, B. Anderson, Charles Y. Murnieks, Matthias Baum, A. Küsshauer
Metric conjoint studies are a popular research design in the entrepreneurship domain. For these studies, test-retest reliabilities of ρ > .70 or higher are an often-cited reliability criterion. Despite their widespread use, however, there is little rigorous analysis of whether test-retest reliability in metric conjoint studies relates to model efficacy. Informed by a systematic literature review, we conducted two Monte Carlo simulations to evaluate the effects of various determinants of test-retest reliability in conjoint experiments. We then illustrate a workflow for entrepreneurship researchers employing conjoint designs to better evaluate—and communicate—confidence in statistical models estimated from conjoint data.
{"title":"Test-Retest Reliability in Metric Conjoint Experiments: A New Workflow to Evaluate Confidence in Model Results","authors":"J. Schüler, B. Anderson, Charles Y. Murnieks, Matthias Baum, A. Küsshauer","doi":"10.1177/10422587231184071","DOIUrl":"https://doi.org/10.1177/10422587231184071","url":null,"abstract":"Metric conjoint studies are a popular research design in the entrepreneurship domain. For these studies, test-retest reliabilities of ρ > .70 or higher are an often-cited reliability criterion. Despite their widespread use, however, there is little rigorous analysis of whether test-retest reliability in metric conjoint studies relates to model efficacy. Informed by a systematic literature review, we conducted two Monte Carlo simulations to evaluate the effects of various determinants of test-retest reliability in conjoint experiments. We then illustrate a workflow for entrepreneurship researchers employing conjoint designs to better evaluate—and communicate—confidence in statistical models estimated from conjoint data.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72776093","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 : 2023-07-03DOI: 10.1177/10422587231184079
Han Jiang, Yuchen Zhang, Jie Jiao
We develop a recombinant framework of technological information disclosure by integrating the insights of the recombinant innovation perspective and the crowdfunding literature. We propose that the technological information disclosed in a technology project’s crowdfunding description can boil down to two recombinant features, that is, the number of disclosed technological domains ( N) and the interdependence thereof ( K). We further posit that the N and K of disclosed technological information about a project have distinct implications for crowdfunders’ perceived usefulness and complexity of the project’s rewards, thus affecting crowdfunding performance in distinct ways. That is, N has an inverted U-shaped effect on crowdfunding performance, while K has a monotonically negative effect on crowdfunding performance. Such effects of N and K of disclosed technological domains are further moderated by crowdfunders’ knowledge about the disclosed technological domains. Evidence from the field data from Kickstarters.com and a scenario-based study support our predictions.
{"title":"A Recombinant Framework of Technological Information Disclosure and Reward-Based Crowdfunding Performance of Technology Projects","authors":"Han Jiang, Yuchen Zhang, Jie Jiao","doi":"10.1177/10422587231184079","DOIUrl":"https://doi.org/10.1177/10422587231184079","url":null,"abstract":"We develop a recombinant framework of technological information disclosure by integrating the insights of the recombinant innovation perspective and the crowdfunding literature. We propose that the technological information disclosed in a technology project’s crowdfunding description can boil down to two recombinant features, that is, the number of disclosed technological domains ( N) and the interdependence thereof ( K). We further posit that the N and K of disclosed technological information about a project have distinct implications for crowdfunders’ perceived usefulness and complexity of the project’s rewards, thus affecting crowdfunding performance in distinct ways. That is, N has an inverted U-shaped effect on crowdfunding performance, while K has a monotonically negative effect on crowdfunding performance. Such effects of N and K of disclosed technological domains are further moderated by crowdfunders’ knowledge about the disclosed technological domains. Evidence from the field data from Kickstarters.com and a scenario-based study support our predictions.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90628495","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 : 2023-06-21DOI: 10.1177/10422587231178885
Daniel R. Clark, Robert J. Pidduck, G. Lumpkin, J. Covin
Entrepreneurial orientation (EO) is an important construct in the fields of management and entrepreneurship research. Interest in EO knowledge continues to thrive with a burgeoning research agenda in multiple contexts and with diverse implications. However, a subset of this research, which endeavors to apply the EO construct to explain or predict individuals’ entrepreneurial beliefs and behaviors, has met with resistance. This paper examines the case for EO at the individual level (Ind.EO). We consider the EO legacy concerns, and the various theoretical implications and benefits of doing so. Drawing upon an “EO as a family of constructs” framework, we propose paths forward for studying Ind.EO credibly, consistent with, but distinct from, traditional firm-level EO. Finally, we outline a research agenda and discuss the contributions and potential implications for Ind.EO research across the wider entrepreneurship discipline.
{"title":"Is It Okay to Study Entrepreneurial Orientation (EO) at the Individual Level? Yes!","authors":"Daniel R. Clark, Robert J. Pidduck, G. Lumpkin, J. Covin","doi":"10.1177/10422587231178885","DOIUrl":"https://doi.org/10.1177/10422587231178885","url":null,"abstract":"Entrepreneurial orientation (EO) is an important construct in the fields of management and entrepreneurship research. Interest in EO knowledge continues to thrive with a burgeoning research agenda in multiple contexts and with diverse implications. However, a subset of this research, which endeavors to apply the EO construct to explain or predict individuals’ entrepreneurial beliefs and behaviors, has met with resistance. This paper examines the case for EO at the individual level (Ind.EO). We consider the EO legacy concerns, and the various theoretical implications and benefits of doing so. Drawing upon an “EO as a family of constructs” framework, we propose paths forward for studying Ind.EO credibly, consistent with, but distinct from, traditional firm-level EO. Finally, we outline a research agenda and discuss the contributions and potential implications for Ind.EO research across the wider entrepreneurship discipline.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74225255","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 : 2023-06-08DOI: 10.1177/10422587231178865
Nhu Nguyen, Ivona Hideg, Yuval Engel, Frédéric C. Godart
Women-led startups are evaluated less favorably than men-led startups, but the reasons for this require further investigation. Drawing on ambivalent sexism theory, we posit that benevolent sexism undermines gender equity in startup evaluation. We initially expected benevolent sexism to be negatively related to evaluations of women-led startups. Surprisingly, we found that benevolent sexism is unrelated to evaluations of women-led startups but is positively related to those of men-led startups—a finding that was replicated in two additional studies. Our work demonstrates benevolent sexism as an advantaging mechanism of inequity in entrepreneurship that boosts men’s outcomes without directly harming women’s outcomes.
{"title":"Benevolent Sexism and the Gender Gap in Startup Evaluation","authors":"Nhu Nguyen, Ivona Hideg, Yuval Engel, Frédéric C. Godart","doi":"10.1177/10422587231178865","DOIUrl":"https://doi.org/10.1177/10422587231178865","url":null,"abstract":"Women-led startups are evaluated less favorably than men-led startups, but the reasons for this require further investigation. Drawing on ambivalent sexism theory, we posit that benevolent sexism undermines gender equity in startup evaluation. We initially expected benevolent sexism to be negatively related to evaluations of women-led startups. Surprisingly, we found that benevolent sexism is unrelated to evaluations of women-led startups but is positively related to those of men-led startups—a finding that was replicated in two additional studies. Our work demonstrates benevolent sexism as an advantaging mechanism of inequity in entrepreneurship that boosts men’s outcomes without directly harming women’s outcomes.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74958454","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 : 2023-06-08DOI: 10.1177/10422587231178882
James Bort, Johan Wiklund, G. Crawford, D. Lerner, R. Hunt
Our study extends and enhances entrepreneurial action theory (EAT) by considering the strategic advantage or disadvantage of impulsive action. To date, EAT has largely sidestepped the role of dispositional impulsivity, limiting its veridicality and inclusivity. Popularized notions of celebrity entrepreneurs and an increasingly large body of empirical research on the prevalence of impulsivity have inspired a reassessment of what drives entrepreneurs. Looking beyond both the anecdotes and well-established prevalence of impulsivity, we develop and illustrate a novel theory concerning the fate of impulsive nascent entrepreneurs who are wired for nondeliberative, less-calculative action. We use an agent-based model and conduct simulation-based experiments involving 2.7 million virtual entrepreneurs to identify and explicate the specific conditions under which impulsivity does or does not generate strategic advantage. Accordingly, we contribute a broader and deeper theorization of EAT, taking notable steps toward the inclusion of nontraditional entrepreneurs and the varied impacts of impulsive action in this domain’s evolving conception of new venture emergence.
{"title":"The Strategic Advantage of Impulsivity in Entrepreneurial Action: An Agent-Based Modeling Approach","authors":"James Bort, Johan Wiklund, G. Crawford, D. Lerner, R. Hunt","doi":"10.1177/10422587231178882","DOIUrl":"https://doi.org/10.1177/10422587231178882","url":null,"abstract":"Our study extends and enhances entrepreneurial action theory (EAT) by considering the strategic advantage or disadvantage of impulsive action. To date, EAT has largely sidestepped the role of dispositional impulsivity, limiting its veridicality and inclusivity. Popularized notions of celebrity entrepreneurs and an increasingly large body of empirical research on the prevalence of impulsivity have inspired a reassessment of what drives entrepreneurs. Looking beyond both the anecdotes and well-established prevalence of impulsivity, we develop and illustrate a novel theory concerning the fate of impulsive nascent entrepreneurs who are wired for nondeliberative, less-calculative action. We use an agent-based model and conduct simulation-based experiments involving 2.7 million virtual entrepreneurs to identify and explicate the specific conditions under which impulsivity does or does not generate strategic advantage. Accordingly, we contribute a broader and deeper theorization of EAT, taking notable steps toward the inclusion of nontraditional entrepreneurs and the varied impacts of impulsive action in this domain’s evolving conception of new venture emergence.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74165217","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 : 2023-05-18DOI: 10.1177/10422587231173684
Katrina M. Brownell, Audra Quinn, M. Bolinger
Across two studies, we apply self-regulation theory to test nonlinear relationships between founder Machiavellianism, narcissism, and psychopathy and new venture performance. Our hypotheses are supported for Machiavellianism and psychopathy, but contrary to our theorizing, we find a positive relationship between narcissism and performance. Furthermore, we identify an important explanatory mechanism in knowledge sharing, which mediates the curvilinear relationships at moderate and high levels. Our research has implications for how we understand the influence of problematic founder personality traits and how behavioral differences at varying levels of these traits can explain relationships with performance, and it presents a nuanced perspective to trait-based explanations for destructive entrepreneurial actions.
{"title":"The Triad Divided: A Curvilinear Mediation Model Linking Founder Machiavellianism, Narcissism, and Psychopathy to New Venture Performance","authors":"Katrina M. Brownell, Audra Quinn, M. Bolinger","doi":"10.1177/10422587231173684","DOIUrl":"https://doi.org/10.1177/10422587231173684","url":null,"abstract":"Across two studies, we apply self-regulation theory to test nonlinear relationships between founder Machiavellianism, narcissism, and psychopathy and new venture performance. Our hypotheses are supported for Machiavellianism and psychopathy, but contrary to our theorizing, we find a positive relationship between narcissism and performance. Furthermore, we identify an important explanatory mechanism in knowledge sharing, which mediates the curvilinear relationships at moderate and high levels. Our research has implications for how we understand the influence of problematic founder personality traits and how behavioral differences at varying levels of these traits can explain relationships with performance, and it presents a nuanced perspective to trait-based explanations for destructive entrepreneurial actions.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82444763","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 : 2023-05-15DOI: 10.1177/10422587231173687
J. Lo, Lei Xu, H. Park
Investing in sectors that a firm has never invested in before is fundamentally a form of entrepreneurial experimentation and an integral part of wealth creation. We consider how the broader market conditions and sociocognitive cues jointly affect venture capital (VC) firms’ investment decisions in new industries that are unrelated to their past experience. Although VCs are more likely to enter an unrelated new industry when the overall market is hot, they also take sociocognitive cues from their own social contacts and news media. Using the population of U.S. VC investments between 1990 and 2016, we find support for our predictions.
{"title":"Hot Markets, Sociocognitive Cues, and New Market Entry in the U.S. Venture Capital Industry","authors":"J. Lo, Lei Xu, H. Park","doi":"10.1177/10422587231173687","DOIUrl":"https://doi.org/10.1177/10422587231173687","url":null,"abstract":"Investing in sectors that a firm has never invested in before is fundamentally a form of entrepreneurial experimentation and an integral part of wealth creation. We consider how the broader market conditions and sociocognitive cues jointly affect venture capital (VC) firms’ investment decisions in new industries that are unrelated to their past experience. Although VCs are more likely to enter an unrelated new industry when the overall market is hot, they also take sociocognitive cues from their own social contacts and news media. Using the population of U.S. VC investments between 1990 and 2016, we find support for our predictions.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82954479","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 : 2023-05-08DOI: 10.1177/10422587231170217
Frédéric Ooms, Jitka Annen, Rajanikant Panda, Paul Meunier, Luaba Tshibanda, Steven Laureys, Jeffrey M. Pollack, Bernard Surlemont
Despite many calls, functional brain magnetic resonance imaging (fMRI) studies are relatively rare in the domain of entrepreneurship research. This methodological brief presents the brain-imaging m...
{"title":"Advancing (Neuro)Entrepreneurship Cognition Research Through Resting-State fMRI: A Methodological Brief","authors":"Frédéric Ooms, Jitka Annen, Rajanikant Panda, Paul Meunier, Luaba Tshibanda, Steven Laureys, Jeffrey M. Pollack, Bernard Surlemont","doi":"10.1177/10422587231170217","DOIUrl":"https://doi.org/10.1177/10422587231170217","url":null,"abstract":"Despite many calls, functional brain magnetic resonance imaging (fMRI) studies are relatively rare in the domain of entrepreneurship research. This methodological brief presents the brain-imaging m...","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50167731","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 : 2023-04-30DOI: 10.1177/10422587231170210
Yu Luna Liu, H. Park, S. Velamuri
Female entrepreneurs and CEOs generally face greater challenges in securing funding to exploit entrepreneurial opportunities, yet contextual factors under which such challenges are more likely to arise are less understood. We find that female-led initial public offerings (IPOs) incur greater IPO underpricing, but this effect is moderated by their ownership structure, reflecting different institutional logics in which these firms operate. Specifically, the positive relationship between female CEOs and IPO underpricing is attenuated by venture capitalist ownership, whereas such a relationship is exacerbated by state ownership. Based on a sample of 958 IPOs in China between 2009 and 2015, this study corroborates these findings.
{"title":"How Different Institutional Logics Affect the Female CEO Gender Effect on IPO Underpricing in China","authors":"Yu Luna Liu, H. Park, S. Velamuri","doi":"10.1177/10422587231170210","DOIUrl":"https://doi.org/10.1177/10422587231170210","url":null,"abstract":"Female entrepreneurs and CEOs generally face greater challenges in securing funding to exploit entrepreneurial opportunities, yet contextual factors under which such challenges are more likely to arise are less understood. We find that female-led initial public offerings (IPOs) incur greater IPO underpricing, but this effect is moderated by their ownership structure, reflecting different institutional logics in which these firms operate. Specifically, the positive relationship between female CEOs and IPO underpricing is attenuated by venture capitalist ownership, whereas such a relationship is exacerbated by state ownership. Based on a sample of 958 IPOs in China between 2009 and 2015, this study corroborates these findings.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":null,"pages":null},"PeriodicalIF":10.5,"publicationDate":"2023-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80796024","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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