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Journal of Business Venturing最新文献

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Fear the loss or welcome the gains? How stock options influence CEO risk-taking in corporate cleantech investments 害怕失去还是欢迎得到?股票期权如何影响CEO在企业清洁技术投资中的风险承担
IF 7.7 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-10 DOI: 10.1016/j.jbusvent.2024.106471
David Bendig , Colin Schulz , Maximilian Möhwald , Patrick Pollok
This study draws on the behavioral agency model to investigate how stock options incentivize CEO risk-taking related to investments in external clean technology (cleantech) ventures. Using longitudinal data from 540 publicly traded firms, we find that current option wealth is negatively associated with corporate cleantech investments while prospective option wealth is positively associated. The results show that founder CEOs, who exhibit different endowment and risk-bearing patterns than hired CEOs, do not perceive cleantech investments as mixed gambles. These findings advance understanding of the interplay between equity-based incentives, CEO characteristics, and incumbents' pursuit of sustainable business practices.
本研究利用行为代理模型来探讨股票期权如何激励CEO在投资外部清洁技术(清洁技术)企业时承担风险。利用540家上市公司的纵向数据,我们发现当前期权财富与企业清洁技术投资呈负相关,而未来期权财富与企业清洁技术投资呈正相关。研究结果表明,与聘用ceo相比,创始人ceo的禀赋和风险承担模式有所不同,他们并不认为清洁技术投资是混合赌博。这些发现促进了对股权激励、CEO特征和在职者追求可持续商业实践之间相互作用的理解。
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引用次数: 0
How environmental awareness and concern affect environmental entrepreneurial intent 环境意识和关注如何影响环境企业家意向
IF 7.7 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-04 DOI: 10.1016/j.jbusvent.2024.106470
Yasmin O. Schwegler , Jeffrey S. Petty
Environmental awareness and concern are implicit in virtually the entire environmental-entrepreneurship literature but typically not explicitly analyzed. To better understand what makes environmental entrepreneurs start their ventures, we need to understand those omnipresent variables. We therefore deconstruct environmental awareness and concern into different aspects, which we manipulate separately in two experimental studies. Our main finding is that key stakeholders' environmental awareness and concern are drivers of environmental entrepreneurship, as they signal to entrepreneurs that stakeholders are ready to support it. We thus identify a way of increasing environmental entrepreneurial intent in order to transform environmental problems into economic opportunities.

Executive summary

There is a growing belief among scholars and practitioners that environmental entrepreneurs can play a crucial role in addressing global environmental degradation by developing and providing innovative solutions that lead the way toward a more sustainable business world (Dean and McMullen, 2007; Hockerts and Wüstenhagen, 2010; Johnson and Schaltegger, 2019). A growing literature is investigating the drivers of such entrepreneurship (e.g., Muñoz and Cohen, 2018; Schaltegger, 2002; Shepherd et al., 2013; York et al., 2016), but two drivers — environmental awareness and concern — are typically only implicit in this literature, even though they are underlying most drivers that are investigated explicitly (e.g., Cohen and Winn, 2007; Dean and McMullen, 2007; Markman et al., 2019). Explicitly analyzing the role of environmental awareness and concern is crucial to better understand what makes environmental entrepreneurs start their ventures.
In this paper, we deconstruct environmental awareness and concern. The experimental method is ideally suited for that aim (Grégoire et al., 2019; Stevenson et al., 2020; Williams et al., 2019), as it allows us to manipulate several forms of awareness and concern in different experimental groups with slightly different pre-tested articles about an environmental problem. We then measure participants' intent to start a venture that addresses that problem, relative to their intent to start similar ventures that do not address the problem. In this way, we test the effect of the following types of environmental awareness and concern on environmental entrepreneurial intent (EEI): entrepreneurs' personal awareness, awareness of a solution to the problem, and awareness of other entrepreneurs addressing the problem; public awareness; entrepreneurs' own concern; public concern; customers' concern; and investors' concern.
The results indicate that especially customers' and investors' awareness of and concern about environmental problems increase entrepreneurs' intent to start environmental ventures. One explanation is that information about stakeholder concern, customers' willingness to
环境意识和关注几乎隐含在整个环境创业文献中,但通常没有明确分析。为了更好地理解是什么促使环保企业家开始创业,我们需要了解这些无处不在的变量。因此,我们将环境意识和关注解构为不同的方面,并在两个实验研究中分别进行操作。我们的主要发现是,关键利益相关者的环境意识和关注是环境创业的驱动力,因为它们向企业家发出了利益相关者准备支持环境创业的信号。因此,我们确定了一种增加环境企业家意图的方法,以便将环境问题转化为经济机会。
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
IF 8.9 1区 管理学 Q1 BUSINESS Pub Date : 2025-01-01
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引用次数: 0
期刊
Journal of Business Venturing
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