Research SummaryExtant studies suggest that a particular set of means, once in place, prompt entrepreneurs to enact effectual decision‐making. However, little is known about how such effectual means are developed, particularly when entrepreneurs' primary means are digital capital rather than pre‐existing effectual means. To address this gap, our qualitative research examines an emerging phenomenon in which young people engage in side‐hustling through social media. Our findings reveal that entrepreneurs develop effectual means by leveraging digital capital through browsing, consulting, and imitating. This developmental process is significantly streamlined by digital capital's generativity, recommendability, and multimodality, with its cost‐effectiveness dynamically assessed to determine the continuity of development. Drawing on these findings, we discuss implications for effectuation theory and entrepreneurship studies.Managerial SummaryEntrepreneurs are known to rely on their established means for effectual decision‐making. However, little is known about how entrepreneurs make effectual decisions when they possess digital capital but have underdeveloped means for effectuation. This study explores how young side‐hustlers on social media build means for effectuation through browsing, consulting, and imitating. The generativity, recommendability, and multimodality of digital capital significantly enhance this developmental process, while cost‐effectiveness is continuously assessed to determine whether to proceed. We develop a process model that illustrates how entrepreneurs leverage and optimize digital capital to drive effectuation in the digital age.
{"title":"Cost‐effectively leveraging digital capital to develop means for effectual decision‐making","authors":"Hyunkyu Park, Yining Luo, Yi Yang","doi":"10.1002/sej.1547","DOIUrl":"https://doi.org/10.1002/sej.1547","url":null,"abstract":"Research SummaryExtant studies suggest that a particular set of means, once in place, prompt entrepreneurs to enact effectual decision‐making. However, little is known about how such effectual means are developed, particularly when entrepreneurs' primary means are digital capital rather than pre‐existing effectual means. To address this gap, our qualitative research examines an emerging phenomenon in which young people engage in side‐hustling through social media. Our findings reveal that entrepreneurs develop effectual means by leveraging digital capital through browsing, consulting, and imitating. This developmental process is significantly streamlined by digital capital's generativity, recommendability, and multimodality, with its cost‐effectiveness dynamically assessed to determine the continuity of development. Drawing on these findings, we discuss implications for effectuation theory and entrepreneurship studies.Managerial SummaryEntrepreneurs are known to rely on their established means for effectual decision‐making. However, little is known about how entrepreneurs make effectual decisions when they possess digital capital but have underdeveloped means for effectuation. This study explores how young side‐hustlers on social media build means for effectuation through browsing, consulting, and imitating. The generativity, recommendability, and multimodality of digital capital significantly enhance this developmental process, while cost‐effectiveness is continuously assessed to determine whether to proceed. We develop a process model that illustrates how entrepreneurs leverage and optimize digital capital to drive effectuation in the digital age.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"35 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144193133","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Research SummaryThis paper examines how academic entrepreneurs—scientists who found research‐based startups while remaining in academia—construct and sustain their professional identities amid frequent transitions between academic and entrepreneurial roles. Drawing on 27 interviews with Swedish academic entrepreneurs, we show that hybrid identities are not simply the result of reconciling abstract role categories but are shaped through the material and practical organization of everyday work. We introduce the concept of professional micro‐transitions as a key site of identity formation and argue that material artifacts and routines play a central role in this process. This study contributes to the literatures on identity work, role transitions, and academic entrepreneurship by offering a granular, materially grounded account of how hybrid identities are enacted and sustained in practice.Managerial SummaryThis article investigates how academic entrepreneurs—university scientists who create startups to commercialize research results while remaining in academia—manage to build a hybrid professional identity when frequently switching back and forth between their jobs as academics and for‐profit entrepreneurs. The findings reveal how they creatively find cross‐fertilizing effects between their academic and entrepreneurial work tasks. This in turn allows them to reevaluate and extend their professional identity. For universities, incubators, and policymakers, this study suggests that supporting academic entrepreneurship is not just about funding or IP policies. It also requires recognizing the practical identity work involved and creating flexible environments that allow scientists to integrate both roles in meaningful ways.
{"title":"Micro‐transitions and work identity: The case of academic entrepreneurs","authors":"Marouane Bousfiha, Henrik Berglund","doi":"10.1002/sej.1541","DOIUrl":"https://doi.org/10.1002/sej.1541","url":null,"abstract":"Research SummaryThis paper examines how academic entrepreneurs—scientists who found research‐based startups while remaining in academia—construct and sustain their professional identities amid frequent transitions between academic and entrepreneurial roles. Drawing on 27 interviews with Swedish academic entrepreneurs, we show that hybrid identities are not simply the result of reconciling abstract role categories but are shaped through the material and practical organization of everyday work. We introduce the concept of professional micro‐transitions as a key site of identity formation and argue that material artifacts and routines play a central role in this process. This study contributes to the literatures on identity work, role transitions, and academic entrepreneurship by offering a granular, materially grounded account of how hybrid identities are enacted and sustained in practice.Managerial SummaryThis article investigates how academic entrepreneurs—university scientists who create startups to commercialize research results while remaining in academia—manage to build a hybrid professional identity when frequently switching back and forth between their jobs as academics and for‐profit entrepreneurs. The findings reveal how they creatively find cross‐fertilizing effects between their academic and entrepreneurial work tasks. This in turn allows them to reevaluate and extend their professional identity. For universities, incubators, and policymakers, this study suggests that supporting academic entrepreneurship is not just about funding or IP policies. It also requires recognizing the practical identity work involved and creating flexible environments that allow scientists to integrate both roles in meaningful ways.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"24 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144133718","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sea Matilda Bez, Isabel Narbon, Asta Pundziene, Rima Sermontyte‐baniule
Research SummaryDigital platforms have revolutionized business sectors; however, despite their significant success, platform unicorns remain rare. While extensive research exists on digital platform growth, it is uncertain what entrepreneurial decisions achieve unicorn status. We address the research question of what combination of complementary entrepreneurial decisions increases and decreases the likelihood of becoming a platform unicorn. The study examines 125 digital mental health platform ventures, including 12 unicorns, using the Dealroom database and decision tree methodology. We provide combinations of complementary decisions concerning fundraising timing, funding sources, digital technologies, and business model choices that affect a platform venture's probability of becoming a unicorn. The study offers decision profiles for navigating the uncertainties of the digital age. We discuss implications for strategic entrepreneurship and a judgment‐based approach.Managerial SummaryIn the digital age, achieving unicorn status depends on the right combination of complementary decisions about fundraising timing, funding sources, digital technology, and business model choices. Entrepreneurs dealing with uncertainty frequently rely on their intuition to make such decisions. Our research complements intuition with evidence that can now be obtained by deploying artificial intelligence tools like decision trees and highlights complementary decision profiles that have a higher likelihood of becoming unicorns, such as profiles with early‐stage funding, no government funding, and deep tech serving the B2B market. Conversely, we identify combinations with less than 1% success rates, indicating failed judgments. Research insights can help entrepreneurs and investors make better‐informed decisions to enhance mental health platform venture success and be aware of possible failure.
{"title":"What entrepreneurial decisions enable the breeding of digital platform unicorns?","authors":"Sea Matilda Bez, Isabel Narbon, Asta Pundziene, Rima Sermontyte‐baniule","doi":"10.1002/sej.1543","DOIUrl":"https://doi.org/10.1002/sej.1543","url":null,"abstract":"Research SummaryDigital platforms have revolutionized business sectors; however, despite their significant success, platform unicorns remain rare. While extensive research exists on digital platform growth, it is uncertain what entrepreneurial decisions achieve unicorn status. We address the research question of what combination of complementary entrepreneurial decisions increases and decreases the likelihood of becoming a platform unicorn. The study examines 125 digital mental health platform ventures, including 12 unicorns, using the Dealroom database and decision tree methodology. We provide combinations of complementary decisions concerning fundraising timing, funding sources, digital technologies, and business model choices that affect a platform venture's probability of becoming a unicorn. The study offers decision profiles for navigating the uncertainties of the digital age. We discuss implications for strategic entrepreneurship and a judgment‐based approach.Managerial SummaryIn the digital age, achieving unicorn status depends on the right combination of complementary decisions about fundraising timing, funding sources, digital technology, and business model choices. Entrepreneurs dealing with uncertainty frequently rely on their intuition to make such decisions. Our research complements intuition with evidence that can now be obtained by deploying artificial intelligence tools like decision trees and highlights complementary decision profiles that have a higher likelihood of becoming unicorns, such as profiles with early‐stage funding, no government funding, and deep tech serving the B2B market. Conversely, we identify combinations with less than 1% success rates, indicating failed judgments. Research insights can help entrepreneurs and investors make better‐informed decisions to enhance mental health platform venture success and be aware of possible failure.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"13 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144066810","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Research SummaryEntrepreneurs have increasingly entered digital crowdfunding platforms as a viable option for acquiring capital. This paper examines how high‐performance outliers—projects that raised substantial amounts of capital—affect other entrepreneurs' decisions to enter crowdfunding. The present study focuses on the two largest rewards‐based crowdfunding platforms, Kickstarter and Indiegogo. Results indicate that, following outliers, entry was relatively higher on the platform with less restrictive, entrant‐friendly governance (i.e., Indiegogo). This effect was more pronounced among low‐quality entrants and moderated by projects in categories that have higher capital requirements. The findings suggest that differences in platform governance influence how subsequent entrepreneurial entrants behave.Managerial SummaryEntrepreneurs use crowdfunding as a viable source of capital. This paper looks at how outliers—projects that raise substantial capital—affected subsequent entry decisions by other entrepreneurs onto the two largest platforms, Kickstarter and Indiegogo. Outliers led to relatively more projects joining Indiegogo, but those projects were disproportionately of low quality. Projects in categories that typically seek more money disproportionately joined Kickstarter. When considered in the context of platform competition, not only does platform governance affect levels of entry on a platform, it also alters the relative mix of entrants that join each platform.
{"title":"How high‐performance outliers affect relative entrepreneurial entry on competing crowdfunding platforms","authors":"Anil R. Doshi","doi":"10.1002/sej.1545","DOIUrl":"https://doi.org/10.1002/sej.1545","url":null,"abstract":"Research SummaryEntrepreneurs have increasingly entered digital crowdfunding platforms as a viable option for acquiring capital. This paper examines how high‐performance outliers—projects that raised substantial amounts of capital—affect other entrepreneurs' decisions to enter crowdfunding. The present study focuses on the two largest rewards‐based crowdfunding platforms, Kickstarter and Indiegogo. Results indicate that, following outliers, entry was relatively higher on the platform with less restrictive, entrant‐friendly governance (i.e., Indiegogo). This effect was more pronounced among low‐quality entrants and moderated by projects in categories that have higher capital requirements. The findings suggest that differences in platform governance influence how subsequent entrepreneurial entrants behave.Managerial SummaryEntrepreneurs use crowdfunding as a viable source of capital. This paper looks at how outliers—projects that raise substantial capital—affected subsequent entry decisions by other entrepreneurs onto the two largest platforms, Kickstarter and Indiegogo. Outliers led to relatively more projects joining Indiegogo, but those projects were disproportionately of low quality. Projects in categories that typically seek more money disproportionately joined Kickstarter. When considered in the context of platform competition, not only does platform governance affect levels of entry on a platform, it also alters the relative mix of entrants that join each platform.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"1 4 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143979600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
David Audretsch, Maksim Belitski, Maribel Guerrero, Donald S. Siegel
Research SummaryThere is limited evidence on how university spin‐offs (USOs) respond to external crises. We fill this gap by assessing how UK digital USOs responded to the recent COVID‐19 pandemic. Specifically, we examine how USOs' capabilities (scaling‐up, fundraising, and intellectual property) and access to their parent university's financial resources/infrastructures interact intertemporally to address demand and supply challenges associated with the pandemic. Our analysis revealed that the interplay of (a) USOs' scaling‐up and fundraising capabilities and (b) USOs' fundraising capabilities and university parent's support infrastructure constituted the best strategy for developing intertemporal resilience during the crisis.Managerial SummaryWe investigate the impact of the COVID‐19 pandemic on digital USOs. Assuming support from parent universities, we explored how their scaling‐up efforts, fundraising efforts, and intellectual property addressed demand and supply challenges during these unprecedented times. First, USOs that could scale up while fundraising were more likely to sustain operations and satisfy demand through various stages of the pandemic. Second, USOs with fundraising capabilities and parent university support demonstrated greater resilience. These findings suggest valuable insights for CEOs of USOs and their parent universities in handling external crises.
{"title":"Assessing the impact of the pandemic on digital spin‐offs at universities: Theory and evidence from the United Kingdom","authors":"David Audretsch, Maksim Belitski, Maribel Guerrero, Donald S. Siegel","doi":"10.1002/sej.1544","DOIUrl":"https://doi.org/10.1002/sej.1544","url":null,"abstract":"Research SummaryThere is limited evidence on how university spin‐offs (USOs) respond to external crises. We fill this gap by assessing how UK digital USOs responded to the recent COVID‐19 pandemic. Specifically, we examine how USOs' capabilities (scaling‐up, fundraising, and intellectual property) and access to their parent university's financial resources/infrastructures interact intertemporally to address demand and supply challenges associated with the pandemic. Our analysis revealed that the interplay of (a) USOs' scaling‐up and fundraising capabilities and (b) USOs' fundraising capabilities and university parent's support infrastructure constituted the best strategy for developing intertemporal resilience during the crisis.Managerial SummaryWe investigate the impact of the COVID‐19 pandemic on digital USOs. Assuming support from parent universities, we explored how their scaling‐up efforts, fundraising efforts, and intellectual property addressed demand and supply challenges during these unprecedented times. First, USOs that could scale up while fundraising were more likely to sustain operations and satisfy demand through various stages of the pandemic. Second, USOs with fundraising capabilities and parent university support demonstrated greater resilience. These findings suggest valuable insights for CEOs of USOs and their parent universities in handling external crises.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"72 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143930582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Francesco Luigi Milone, Emilio Paolucci, Elisabetta Raguseo
Research SummaryThis article enters the debate on the effects of digital platforms on entrepreneurial opportunities by estimating whether the entry of a home‐sharing platform shapes entrepreneurial decisions in marginal areas. We add a novel perspective to the literature, as we contend that when economic conditions are unfavorable, digital platforms, acting as External Enablers, stimulate entrepreneurship. We test these arguments on the unique setting of 270 Italian Borghi and the entry of Airbnb, employing a staggered difference‐in‐difference design. We show that, following the entry of Airbnb, the entrepreneurial activity of the surrounding area increases, with effects that are heterogeneous across sectors and stronger in more depressed areas. We also show qualitative–quantitative evidence of the mechanisms explaining these effects. Finally, we discuss theoretical contributions to digital‐entrepreneurship literature and implications.Managerial SummaryThis study provides implications for both prospective entrepreneurs and policymakers willing to incentivize the creation of new businesses in marginal and remote areas. First, we show that, in marginal locations, digital platforms act as facilitators for entrepreneurs facing a complex and risky decision to embark on new business activities, particularly, if these are along the scope of the platform. This happens because platforms create demand—if not existing—and reduce entry and operating costs by internalizing specific business processes. Second, we offer a clear recommendation to policymakers. We show that digital platforms represent an indirect and effective way of pursuing the development of entrepreneurship in marginal areas. This aspect is relevant as scholars have demonstrated that direct approaches are not always effective.
{"title":"Do digital platforms create entrepreneurial opportunities? Evidence from marginal areas","authors":"Francesco Luigi Milone, Emilio Paolucci, Elisabetta Raguseo","doi":"10.1002/sej.1542","DOIUrl":"https://doi.org/10.1002/sej.1542","url":null,"abstract":"Research SummaryThis article enters the debate on the effects of digital platforms on entrepreneurial opportunities by estimating whether the entry of a home‐sharing platform shapes entrepreneurial decisions in marginal areas. We add a novel perspective to the literature, as we contend that when economic conditions are unfavorable, digital platforms, acting as External Enablers, stimulate entrepreneurship. We test these arguments on the unique setting of 270 Italian Borghi and the entry of Airbnb, employing a staggered difference‐in‐difference design. We show that, following the entry of Airbnb, the entrepreneurial activity of the surrounding area increases, with effects that are heterogeneous across sectors and stronger in more depressed areas. We also show qualitative–quantitative evidence of the mechanisms explaining these effects. Finally, we discuss theoretical contributions to digital‐entrepreneurship literature and implications.Managerial SummaryThis study provides implications for both prospective entrepreneurs and policymakers willing to incentivize the creation of new businesses in marginal and remote areas. First, we show that, in marginal locations, digital platforms act as facilitators for entrepreneurs facing a complex and risky decision to embark on new business activities, particularly, if these are along the scope of the platform. This happens because platforms create demand—if not existing—and reduce entry and operating costs by internalizing specific business processes. Second, we offer a clear recommendation to policymakers. We show that digital platforms represent an indirect and effective way of pursuing the development of entrepreneurship in marginal areas. This aspect is relevant as scholars have demonstrated that direct approaches are not always effective.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"38 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143930874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Research SummaryBecause invention activities involve accessing, identifying, and recombining relevant prior art, startups confront significant search cost and effort. Using Google Patents's 2006 digitization of inventive records as a natural experiment, we examine how digitization affects the directionality and nature of entrepreneurial innovation. We analyze 17,664 US‐based startups in the life sciences industry and find that digitization increases the quantity and quality of prior art used as innovation inputs and those of patent applications generated as innovation outputs. Moreover, our findings indicate that digitization enables startups to transcend local searches for relevant inputs and increase both their entry into new technological domains and output utility. Our study sheds new light on how digitization and its search functionalities reshape startup innovation in the digital era.Managerial SummaryGoogle Patents's 2006 digitization of inventive records transformed entrepreneurial innovation in the US Analyzing 17,664 life sciences startups, we find that digitization enhances search efficiency by alleviating constraints in accessing knowledge while boosting search effectiveness by improving inventive experimentation as online search features make identifying and utilizing relevant external knowledge timelier and more precise. Digitization enables startups to utilize greater volume, higher quality, and more diverse knowledge from prior art while also reinforcing invention outcomes, expanding into new technological domains, and generating more impactful inventions. This study highlights how digitization democratizes access to knowledge and improves search effectiveness and entrepreneurial experimentation, ultimately transforming the startup innovation landscape. Overall, digitization disproportionately benefits startups in areas geographically remote from physical knowledge repositories.
{"title":"Startup innovation in the digital era","authors":"Jung H. Kwon, Shu Deng, Haemin Dennis Park","doi":"10.1002/sej.1537","DOIUrl":"https://doi.org/10.1002/sej.1537","url":null,"abstract":"Research SummaryBecause invention activities involve accessing, identifying, and recombining relevant prior art, startups confront significant search cost and effort. Using Google Patents's 2006 digitization of inventive records as a natural experiment, we examine how digitization affects the directionality and nature of entrepreneurial innovation. We analyze 17,664 US‐based startups in the life sciences industry and find that digitization increases the quantity and quality of prior art used as innovation inputs and those of patent applications generated as innovation outputs. Moreover, our findings indicate that digitization enables startups to transcend local searches for relevant inputs and increase both their entry into new technological domains and output utility. Our study sheds new light on how digitization and its search functionalities reshape startup innovation in the digital era.Managerial SummaryGoogle Patents's 2006 digitization of inventive records transformed entrepreneurial innovation in the US Analyzing 17,664 life sciences startups, we find that digitization enhances search efficiency by alleviating constraints in accessing knowledge while boosting search effectiveness by improving inventive experimentation as online search features make identifying and utilizing relevant external knowledge timelier and more precise. Digitization enables startups to utilize greater volume, higher quality, and more diverse knowledge from prior art while also reinforcing invention outcomes, expanding into new technological domains, and generating more impactful inventions. This study highlights how digitization democratizes access to knowledge and improves search effectiveness and entrepreneurial experimentation, ultimately transforming the startup innovation landscape. Overall, digitization disproportionately benefits startups in areas geographically remote from physical knowledge repositories.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"136 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Research SummaryAccess to markets is critical for entrepreneurial success, yet many face significant barriers. This study argues that digital platforms functioning as peer‐to‐peer marketplaces can facilitate entrepreneurial activity by improving market access for new ventures. Using the staggered entry of Craigslist into various markets, we find that Craigslist's entry increased local entrepreneurial activities, especially in low‐income regions. Moreover, individuals from lower‐income households, as well as Black and immigrant communities, were more likely to create new ventures following Craigslist's entry. Firms founded after Craigslist's entry were also smaller in size, potentially reflecting more efficient management, and primarily operated in B2C rather than B2B sectors. This study highlights how multisided platforms can empower individuals with limited market access and resources, ultimately democratizing entrepreneurship in the digital age.Managerial SummaryAccess to markets is essential for entrepreneurs to succeed, yet many face significant challenges in starting and growing their businesses. This study demonstrates how digital platforms like Craigslist can help overcome these barriers and create opportunities for more people to participate in entrepreneurship. When Craigslist expanded to new locations, it increased small business activity, particularly in low‐income areas. Individuals from lower‐income households, as well as Black and immigrant communities, were especially likely to benefit from it when starting businesses. These businesses were smaller in size, potentially indicating more efficient management and more B2C‐focused operations. This research underscores how digital platforms can make markets more accessible for traditionally disadvantaged groups, fostering a more inclusive entrepreneurial ecosystem.
{"title":"How digital platforms affect local entrepreneurial activities: Evidence from the staggered entry of craigslist","authors":"Daehyun Kim, Yongwook Paik, Namil Kim","doi":"10.1002/sej.1538","DOIUrl":"https://doi.org/10.1002/sej.1538","url":null,"abstract":"Research SummaryAccess to markets is critical for entrepreneurial success, yet many face significant barriers. This study argues that digital platforms functioning as peer‐to‐peer marketplaces can facilitate entrepreneurial activity by improving market access for new ventures. Using the staggered entry of Craigslist into various markets, we find that Craigslist's entry increased local entrepreneurial activities, especially in low‐income regions. Moreover, individuals from lower‐income households, as well as Black and immigrant communities, were more likely to create new ventures following Craigslist's entry. Firms founded after Craigslist's entry were also smaller in size, potentially reflecting more efficient management, and primarily operated in B2C rather than B2B sectors. This study highlights how multisided platforms can empower individuals with limited market access and resources, ultimately democratizing entrepreneurship in the digital age.Managerial SummaryAccess to markets is essential for entrepreneurs to succeed, yet many face significant challenges in starting and growing their businesses. This study demonstrates how digital platforms like Craigslist can help overcome these barriers and create opportunities for more people to participate in entrepreneurship. When Craigslist expanded to new locations, it increased small business activity, particularly in low‐income areas. Individuals from lower‐income households, as well as Black and immigrant communities, were especially likely to benefit from it when starting businesses. These businesses were smaller in size, potentially indicating more efficient management and more B2C‐focused operations. This research underscores how digital platforms can make markets more accessible for traditionally disadvantaged groups, fostering a more inclusive entrepreneurial ecosystem.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"134 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143898045","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Fabio Quarato, Maria J. Sanchez‐Bueno, Domenico Rocco Cambrea, Fernando Muñoz‐Bullón, Mario Daniele Amore
Research SummaryWhile extant research has studied extensively the consequences of chief executive officer (CEO) succession, we explore the concept of family CEO mentoring (from a departing family CEO to a younger family leader) as a potential driver of post‐succession performance in family firms. Drawing on stewardship theory and using a data set of 1787 Italian firms experiencing a CEO succession over 14 years, we show that family CEO mentoring positively influences post‐succession financial performance. We then argue and empirically confirm that the performance benefit of family CEO mentoring is enhanced by the presence of nonfamily members on the board but is dampened by industry turbulence. We conclude by discussing the implications of our findings for research on CEO mentoring, CEO succession, and family business performance.Managerial SummaryTo thrive across generations, family firms need to navigate the many complexities of chief executive officer (CEO) succession. One way to overcome the challenge is to have a departing family leader who provides mentoring to the younger family leader. Our examination of 1787 Italian family firms that experienced CEO succession in the period 2003–2016 suggests that family CEO mentoring drives better post‐succession firm performance, especially when there is a high presence of nonfamily directors in the boardroom and when the firm operates in low‐volatility industries. This study enhances the understanding of CEO succession by integrating the role of family CEO mentoring as a driver of post‐succession financial performance.
{"title":"Family CEO mentoring and post‐CEO succession performance","authors":"Fabio Quarato, Maria J. Sanchez‐Bueno, Domenico Rocco Cambrea, Fernando Muñoz‐Bullón, Mario Daniele Amore","doi":"10.1002/sej.1539","DOIUrl":"https://doi.org/10.1002/sej.1539","url":null,"abstract":"Research SummaryWhile extant research has studied extensively the consequences of chief executive officer (CEO) succession, we explore the concept of family CEO mentoring (from a departing family CEO to a younger family leader) as a potential driver of post‐succession performance in family firms. Drawing on stewardship theory and using a data set of 1787 Italian firms experiencing a CEO succession over 14 years, we show that family CEO mentoring positively influences post‐succession financial performance. We then argue and empirically confirm that the performance benefit of family CEO mentoring is enhanced by the presence of nonfamily members on the board but is dampened by industry turbulence. We conclude by discussing the implications of our findings for research on CEO mentoring, CEO succession, and family business performance.Managerial SummaryTo thrive across generations, family firms need to navigate the many complexities of chief executive officer (CEO) succession. One way to overcome the challenge is to have a departing family leader who provides mentoring to the younger family leader. Our examination of 1787 Italian family firms that experienced CEO succession in the period 2003–2016 suggests that family CEO mentoring drives better post‐succession firm performance, especially when there is a high presence of nonfamily directors in the boardroom and when the firm operates in low‐volatility industries. This study enhances the understanding of CEO succession by integrating the role of family CEO mentoring as a driver of post‐succession financial performance.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"2 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143872776","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Stephen E. Lanivich, Samuel Adomako, James M. Vardaman, Francis Donbesuur, Jintong Tang
Research SummaryThis article draws upon regulatory focus theory to examine the ways in which founders influence entrepreneurial orientation and performance in young ventures. Findings from studies of young ventures in Ghana (N = 226) and Kenya (N = 205) suggest that founder promotion focus has a positive effect on entrepreneurial orientation, while founder prevention focus has a negative effect. Furthermore, we find that entrepreneurial orientation mediates the effects of founder regulatory focus on young venture performance and that the strategic decision speed of founders moderates the entrepreneurial orientation—venture performance relationship. The results extend theory on entrepreneurial orientation and regulatory focus by elucidating the role of founders' characteristics in setting an entrepreneurial tone for their firms and enhancing the effects of entrepreneurial orientation on venture performance.Managerial SummaryWith this article, we highlight the roles of regulatory focus and decision speed with entrepreneurial orientation (EO) to suggest the founder is vital in setting an entrepreneurial tone in their organizations. Leaders in young ventures should realize that their dispositions have outsized influence in both the development of EO and how EO is put into action. Founders who recognize the merits of cultivating a promotion‐focused orientation can strategically leverage this orientation to fuel their ventures' EO. Conversely, the negative influence of founder prevention focus on EO signifies the potential challenges associated with risk aversion and loss avoidance in entrepreneurial ventures. Finally, leaders who acknowledge the significance of quick, informed decisions are better positioned to leverage the positive impact of EO on new venture performance.
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