Template-Type: ReDIF-Article 1.0
Author-Name: Marc König
Author-X-Name-First: Marc
Author-X-Name-Last: König
Author-Name: Manon Enjolras
Author-X-Name-First: Manon
Author-X-Name-Last: Enjolras
Author-Name: Christina Ungerer
Author-X-Name-First: Christina
Author-X-Name-Last: Ungerer
Author-Name: Mauricio Camargo
Author-X-Name-First: Mauricio
Author-X-Name-Last: Camargo
Author-Name: Guido H. Baltes
Author-X-Name-First: Guido H.
Author-X-Name-Last: Baltes
Title: Evaluation of tech ventures' evolving business models: rules for performance-related classification
Abstract:
At the early stage of a successful tech venture's life cycle, it is assumed that the business model will evolve to higher quality over time. However, there are few empirical insights into business model evolution patterns for the performance-related classification of early-stage tech ventures. We created relevant variables evaluating the evolution of the venture-centric network and the technological proposition of both digital and non-digital ventures' business models using the text of submissions to the official business plan award in the German State of Baden-Württemberg between 2006 and 2012. Applying a principal component analysis/rough set theory mixed methodology, we explore performance-related business model classification rules in the heterogeneous sample of business plans. We find that ventures need to demonstrate real interactions with their customers' needs to survive. The distinguishing success rules are related to patent applications, risk capital, and scaling of the organisation. The rules help practitioners to classify business models in a way that allows them to prioritise action for performance.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 145-167
Issue: 2
Volume: 14
Year: 2022
Keywords: network theory; business model; life cycle; RST; rough set theory; PCA; principal component analysis; tech ventures.
File-URL: http://www.inderscience.com/link.php?id=122639
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:2:p:145-167

Template-Type: ReDIF-Article 1.0
Author-Name: Benjamin Bugl
Author-X-Name-First: Benjamin
Author-X-Name-Last: Bugl
Author-Name: Dominik K. Kanbach
Author-X-Name-First: Dominik K.
Author-X-Name-Last: Kanbach
Title: Non-financial value creation in corporate venture capital: a systematic review of empirical studies
Abstract:
In recent decades, scholars have devoted increasing attention to equity investments in start-up companies executed by an intermediary owned and controlled by a corporation. Corporate venture capital (CVC) units provide liquidity to new venture companies and seek to achieve value creation for their corporate parents by offering a window to new technologies and for portfolio companies by leveraging their distinctive resource capabilities. This paper reviews the existing literature on CVC non-financial value creation for corporate parents and new venture portfolio firms in a systematic and replicable way. The contributions of our study are twofold. First, our thematic analysis reveals gaps in the existing knowledge, enabling scholars to investigate these research areas in more detail. Second, we provide a clear road map for CVC practitioners aiming to drive corporate innovation and scale new venture portfolio firms.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 230-276
Issue: 2
Volume: 14
Year: 2022
Keywords: CVC; corporate venture capital; corporate venturing; value creation; value generation; innovation; new ventures; start-ups; corporate parent; resource-based view; organisational learning; systematic literature review.
File-URL: http://www.inderscience.com/link.php?id=122643
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:2:p:230-276

Template-Type: ReDIF-Article 1.0
Author-Name: Navid Mohammadi
Author-X-Name-First: Navid
Author-X-Name-Last: Mohammadi
Author-Name: Maysam Shafiee
Author-X-Name-First: Maysam
Author-X-Name-Last: Shafiee
Title: Predicting the success of seed-stage startups to enter the acceleration program and receive seed money
Abstract:
The accelerators, like any other business, are looking for success and an acceptable return on investment. This research aims to reduce the risk of these decisions by providing a framework to evaluate startups in their pre-launch period and select startups to enter the acceleration and receiving seed money that are most likely to succeed. For this purpose, the Delphi fuzzy method is used to finalise the criteria, the affinity diagram, which is one of the design thinking tools, is used to model the framework and the best worst method (BWM) is to weight the framework criteria. Finally, the four startups present in the NextEra accelerator pre-launch period in Iran have been studied and evaluated. The most important criteria in this framework are including the technical feasibility of the idea, team skills, knowledge level, characteristics of a lead entrepreneur, the culture of cooperation, and commitment of the members in achieving the goals.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 168-201
Issue: 2
Volume: 14
Year: 2022
Keywords: new venture success; startup; seed accelerator; best worst method; BWM; affinity diagram; design thinking.
File-URL: http://www.inderscience.com/link.php?id=122654
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:2:p:168-201

Template-Type: ReDIF-Article 1.0
Author-Name: Kshitija Joshi
Author-X-Name-First: Kshitija
Author-X-Name-Last: Joshi
Author-Name: Deepak Chandrashekar
Author-X-Name-First: Deepak
Author-X-Name-Last: Chandrashekar
Author-Name: M.H. Bala Subrahmanya
Author-X-Name-First: M.H. Bala
Author-X-Name-Last: Subrahmanya
Title: Monitoring and value-add by venture capital firms in investee firms: the case of foreign VCs operating in India
Abstract:
This paper makes an attempt to explain the differing intensities of involvement by VC firms in the investee companies funded by them. To start with, we quantify VC involvement intensity by developing an index and then divide the VC firms in our sample into three distinct clusters. Based on the profiles of these clusters, we conclude that both - the need for monitoring and that for value-addition play an equally important role in determining the intensity of monitoring. We find that Foreign VCs do not exhibit a uniform pattern with respect to their intensity of involvement. One set of foreign VCs avoid early-stage and high-tech sector focused investments altogether. They prefer niche later stage ventures which they can help scale up given their resources and networks. The second type of foreign VCs are those that tackle the agency risks associated with early-stage and high-tech venture investing head-on.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 202-229
Issue: 2
Volume: 14
Year: 2022
Keywords: foreign VC; agency risk; VC involvement; India; domestic VC; VC funding; information asymmetry; emerging economy.
File-URL: http://www.inderscience.com/link.php?id=122655
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:2:p:202-229

Template-Type: ReDIF-Article 1.0
Author-Name: Vibhuti Mittal
Author-X-Name-First: Vibhuti
Author-X-Name-Last: Mittal
Author-Name: T.V. Raman
Author-X-Name-First: T.V.
Author-X-Name-Last: Raman
Title: A partial least squares approach to the financing behaviour of micro, small and medium enterprises
Abstract:
The present study explores the financing behaviour of micro, small and medium enterprises (MSME) owners. A nexus of owners' personal attributes (PC) and behavioural aspects including financial knowledge (FK), financing motivation (M), and risk taking ability (R) has been created to determine the financing preferences (FP) and capital structure decision (CSD) of firm owners. The research framework adopts quantitative approach to the analysis. 274 responses were collected and analysed through partial least squares structural equation modelling on SmartPLSv2. The findings support the direct and mediating role of M and R in predicting FP and its relationship with PC. Moreover, the study confirms the role of FP in determining CSD in terms of pecking order behaviour among firm owners. The integration of owners' personal characteristics and behavioural factors in determining firms' financial decision adds value to the theory and practice of MSME financing.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 277-302
Issue: 3
Volume: 14
Year: 2022
Keywords: MSMEs; micro; small and medium enterprises; MSME financing; small business finance; entrepreneurial financing; financing motivation; financing risk.
File-URL: http://www.inderscience.com/link.php?id=124963
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:3:p:277-302

Template-Type: ReDIF-Article 1.0
Author-Name: Anas Abudaqa
Author-X-Name-First: Anas
Author-X-Name-Last: Abudaqa
Author-Name: Rashed A. Alzahmi
Author-X-Name-First: Rashed A.
Author-X-Name-Last: Alzahmi
Author-Name: Hasan Almujaini
Author-X-Name-First: Hasan
Author-X-Name-Last: Almujaini
Author-Name: Gouher Ahmed
Author-X-Name-First: Gouher
Author-X-Name-Last: Ahmed
Title: Does innovation moderate the relationship between digital facilitators, digital transformation strategies and overall performance of SMEs of UAE?
Abstract:
This study tests how innovation influences the empirical relationship among digital facilitators, digital transformation strategies and overall performance of manufacturing SMEs in UAE. First, the study found the positive relationship between digital facilitators and overall performance of SMEs. Second, there is a positive link between digital transformation strategies and overall performance of SMEs. Third, the innovation significantly moderates the relationship between digital facilitators and overall performance of SMEs, and digital transformation strategies and overall performance of SMEs. Innovations are pre-requisite of digitalisation as digitalised products are continuing to develop through the reconsolidation of digital objects through the process of innovation.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 330-350
Issue: 3
Volume: 14
Year: 2022
Keywords: digital transformation; digital facilitators; SMEs performance; innovation; UAE; digital enterprises; SMEs digitalisation; manufacturing SMEs.
File-URL: http://www.inderscience.com/link.php?id=124964
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:3:p:330-350

Template-Type: ReDIF-Article 1.0
Author-Name: Roland Atembe
Author-X-Name-First: Roland
Author-X-Name-Last: Atembe
Title: The role of networks in opportunity recognition in the tourism industry: insights from restaurateurs in Austria
Abstract:
Social networks are drivers of opportunity recognition. However, far too little attention to the social networks and entrepreneurial opportunities is paid to the tourism industry. Besides that, recent development in societies is digitalisation. Digital transformation has drastically changed individuals lifestyles and entrepreneurial practices, unlocking novel connectivity and networking. This study draws on the social network theory to explore the effects of offline and online networks on entrepreneurial opportunity recognition in the tourism industry, specifically in the foodservice segment. The study uses a qualitative case study approach to collect data from restaurateurs in Austria. The empirical evidence reveals a two-dimensional effect of networks on opportunity recognition. The paper proposes an integrated framework to comprehend the nature of social networks in entrepreneurship. It provides a relevant theory for the tourism entrepreneurship process and education. The study also generates new applicable insights suitable for enhancing opportunity recognition ability, creating and operating high-growth-potential ventures.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 303-329
Issue: 3
Volume: 14
Year: 2022
Keywords: social networks; entrepreneurial opportunity recognition; tourism entrepreneurship; tourism entrepreneurs; restaurateurs; opportunity identification; opportunity discovery; opportunity creation; venture creation; tourism enterprise; venture development; firm start-up; tourism industry.
File-URL: http://www.inderscience.com/link.php?id=124966
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:3:p:303-329

Template-Type: ReDIF-Article 1.0
Author-Name: Barbara Kump
Author-X-Name-First: Barbara
Author-X-Name-Last: Kump
Author-Name: Christina Schweiger
Author-X-Name-First: Christina
Author-X-Name-Last: Schweiger
Title: Mere adaptability or dynamic capabilities? A qualitative multi-case study on how SMEs renew their resource bases
Abstract:
The capacity to renew their resource bases over time is crucial for the long-term survival of small and medium-sized enterprises (SMEs). While there is no doubt that SMEs are capable of adaptation, a recent debate has emerged in the literature on whether SMEs can also have dynamic capabilities; that is, sensing, seizing, and transforming capacities. The paper reports on a qualitative multi-case study based on interviews with 84 persons from 10 Austrian SMEs that have demonstrated substantial adaptability over the past decade(s). It examines the questions of how these SMEs adapted to their changing environments, and whether they had exhibited dynamic capabilities. The findings suggest that sensing, seizing, and transforming can be challenging for SMEs; however, SMEs have specific ways to overcome these challenges. The main contribution of the paper is a nuanced picture of how SMEs enact dynamic capabilities-an area that has been a blind spot in earlier research.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 351-377
Issue: 3
Volume: 14
Year: 2022
Keywords: SMEs; small and medium-sized enterprises; small firms; dynamic capabilities; adaptability; adaptation; strategy.
File-URL: http://www.inderscience.com/link.php?id=124967
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:3:p:351-377

Template-Type: ReDIF-Article 1.0
Author-Name: Pavel Milei
Author-X-Name-First: Pavel
Author-X-Name-Last: Milei
Title: The nature of business model innovation in start-up companies
Abstract:
This study aims to conceptually clarify the nature of business model innovation (BMI) in start-ups and its difference to established companies. Based on the conducted literature review, we propose a taxonomy of BMI that differentiates between four clusters where innovation can take place: 1) transformation of an established business model; 2) parallel business model; 3) pivot in a start-up business model; and 4) greenfield business model. We show that the differences in the nature of BMI in entrepreneurial and established firms are largely attributed to the distinct barriers faced by the two types of firms throughout their BMI. To establish what constitutes a BMI in entrepreneurial companies we suggest a comprehensive scale of business model innovativeness for gauging the extent of start-up BMI across three dimensions (breadth, depth, and reach). Research propositions are derived to underpin the future theoretical and empirical work on the topic.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 1-15
Issue: 1
Volume: 14
Year: 2022
Keywords: business model; BMI; business model innovation; business model design; business model reconfiguration; start-ups; entrepreneurship; new venture; innovation.
File-URL: http://www.inderscience.com/link.php?id=122014
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:1:p:1-15

Template-Type: ReDIF-Article 1.0
Author-Name: Christoph Buck
Author-X-Name-First: Christoph
Author-X-Name-Last: Buck
Author-Name: Laura Watkowski
Author-X-Name-First: Laura
Author-X-Name-Last: Watkowski
Author-Name: Katrin Wyrtki
Author-X-Name-First: Katrin
Author-X-Name-Last: Wyrtki
Title: Cooperation for innovativeness in SMEs: a taxonomy for cooperation design
Abstract:
Various resource constraints of small and medium-sized enterprises (SMEs) highlight the strategy of cooperation for innovation as it enhances organisations' options and breadth of knowledge sources. Nevertheless, research lacks guidance on why, with whom, and how to cooperate and has so far not provided a comprehensive overview of the characteristics of cooperation to foster SMEs' innovativeness. We build a taxonomy based on deductive and inductive iterations. The taxonomy incorporates insights from literature including information science, innovation management, and organisational science. Further it represents insights from practitioners on cooperation for innovation. Our taxonomy delineates the design options for practitioners and advises that one select organisation-specific parameters. With this taxonomy, we conceptually structure existing research and empower practitioners to analyse their current cooperation projects, reconsider them, and gain knowledge to design new ways of cooperation that best suit their aims.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 53-86
Issue: 1
Volume: 14
Year: 2022
Keywords: cooperation for innovativeness; innovativeness in SMEs; taxonomy; taxonomy development; cooperation design; small and medium sized enterprises; characteristics of cooperation; practitioner insights; dynamic capabilities; design options.
File-URL: http://www.inderscience.com/link.php?id=122015
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:1:p:53-86

Template-Type: ReDIF-Article 1.0
Author-Name: Alexander Pöschl
Author-X-Name-First: Alexander
Author-X-Name-Last: Pöschl
Title: Entrepreneurial decision-making logics during time-critical pivoting: empirical evidence from high-tech ventures
Abstract:
Entrepreneurs typically adopt decision-making logics such as effectuation, causation or a hybrid during venture creation and development. One part of such development involves the search for viable business models. Ventures might need to deviate from their initial plan and radically change (i.e., pivot). While entrepreneurial decision-making logics at venture creation have received substantial research attention, we know little about their dynamics during pivoting. Specifically, pivoting is often accompanied by time and resource constraints for entrepreneurs and such constraints can influence entrepreneurial decision-making. This inductive and multiple case study is based on 14 ventures in Europe's DACH region. It explores the question of how and why time constraints and perceived time pressures affect entrepreneurs' decision-making logics during pivoting processes. Findings suggest that entrepreneurs tend to employ more effectual logics when time constraints and perceived time pressures are pronounced and vice versa for causal logics. The emerging findings contribute to entrepreneurship and effectuation theory in that they indicate that time plays a crucial role for pivoting entrepreneurs' decision-making logics.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 16-52
Issue: 1
Volume: 14
Year: 2022
Keywords: effectuation; entrepreneurship; pivoting; startups; decision-making; transformation; time constraints.
File-URL: http://www.inderscience.com/link.php?id=122016
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Template-Type: ReDIF-Article 1.0
Author-Name: Álvaro Dias
Author-X-Name-First: Álvaro
Author-X-Name-Last: Dias
Author-Name: Leandro Pereira
Author-X-Name-First: Leandro
Author-X-Name-Last: Pereira
Author-Name: Renato Lopes Da Costa
Author-X-Name-First: Renato Lopes Da
Author-X-Name-Last: Costa
Author-Name: Rui Gonçalves
Author-X-Name-First: Rui
Author-X-Name-Last: Gonçalves
Title: New product development and co-creation: a service-dominant logic approach
Abstract:
Nowadays, we face competitive environments characterised by the proliferation of new technologies, accelerated obsolescence of products and constant change in consumer needs. Companies and organisations need to keep up with changes in the development of new products and services. Interaction with the consumer through co-creation in the new product development process emerges as a process to obtain a competitive advantage and create value for the consumer. Value creation is not inherent to new product development and co-creation. Motivational, emotional, and situational factors alter the success of value creation and can even destroy it. A survey was conducted to measure the variables and test the hypothesis. Results from multiple regression indicate a positive relation between co-creation, innovation, motivation, emotion, value creation, and information and new product development.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 87-121
Issue: 1
Volume: 14
Year: 2022
Keywords: new product development; cocreation; value creation; innovation.
File-URL: http://www.inderscience.com/link.php?id=122017
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:1:p:87-121

Template-Type: ReDIF-Article 1.0
Author-Name: Andreas Seebeck
Author-X-Name-First: Andreas
Author-X-Name-Last: Seebeck
Author-Name: Robin M. Wolter
Author-X-Name-First: Robin M.
Author-X-Name-Last: Wolter
Title: Financial education of founders, is it important? A case study of Jacobs Startup Competition
Abstract:
This paper examines the effect of founders' financial education on the quality of financial information provided to investors as well as on the perceived capabilities of the founding team. The examinations are based on a unique sample of 130 international student-run start-ups. This paper finds that founding teams with at least one member having a financial education background provide more useful and specific, however less readable financial information in their business plans. The results suggest that investors regard founding teams comprised of at least one team member with financial education as more capable and competent. This effect stems from investors' screening of team members' biographic information rather than from indirect effects resulting from higher quality financial reporting in business plans. The findings contribute to the existing entrepreneurship education literature by providing empirical evidence that accounting and finance courses should be core elements of entrepreneurship curricula.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 122-143
Issue: 1
Volume: 14
Year: 2022
Keywords: financial education; entrepreneurship education; start-up competition; business plan; founding team; textual analysis.
File-URL: http://www.inderscience.com/link.php?id=122018
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:1:p:122-143

Template-Type: ReDIF-Article 1.0
Author-Name: Ondřej Dvouletý
Author-X-Name-First: Ondřej
Author-X-Name-Last: Dvouletý
Author-Name: Ivana Blažková
Author-X-Name-First: Ivana
Author-X-Name-Last: Blažková
Title: Relationship between firm total factor productivity and performance: the case of the Czech high-tech industry
Abstract:
The study aimed to empirically assess the relationship between total factor productivity and financial performance to enrich the ongoing discussion on the determinants of high-tech enterprises' success. We studied the financial performance of 267 Czech high-tech companies over the years 2002-2018. Our analysis is also controlled for other firm characteristics such as company age, size, legal form, capital structure, sectoral and regional affiliation. We found that firm performance is significantly dependent on total factor productivity. The obtained results also show that large firms seem to achieve significantly higher performance both in terms of sales and in terms of EBIT when compared with small- and medium-sized enterprises (SMEs). The study points out the need to expand knowledge on the factors influencing success in the high-tech industries and provides several future research directions. Scholars may investigate, for instance, how prevailing market orientation or firm management quality influence the performance of high-tech enterprises.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 391-412
Issue: 4/5
Volume: 14
Year: 2022
Keywords: TFP; total factor productivity; firm size; enterprise performance; high-tech industry; Czech Republic.
File-URL: http://www.inderscience.com/link.php?id=127437
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:391-412

Template-Type: ReDIF-Article 1.0
Author-Name: Alice Civera
Author-X-Name-First: Alice
Author-X-Name-Last: Civera
Author-Name: Erik E. Lehmann
Author-X-Name-First: Erik E.
Author-X-Name-Last: Lehmann
Author-Name: Michele Meoli
Author-X-Name-First: Michele
Author-X-Name-Last: Meoli
Title: The importance of team diversity for academic spinoff performance
Abstract:
This study examines how team diversity affects the performance of academic spinoffs. Building on the upper-echelon theory, we argue that different forms of diversity, namely profile diversity, cognitive distance, CEO non-duality, and the presence of a non-academic CEO may positively affect the early performance of academic spinoffs. Our hypotheses are tested on a sample of 307 Italian academic spinoffs founded between 2010 and 2014. Our results support the positive role of diversity in enhancing growth, but only for innovative academic spinoffs. The presence of a non-academic CEO is the only diversity measure that plays a direct positive role, regardless of company technological features.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 472-496
Issue: 4/5
Volume: 14
Year: 2022
Keywords: academic spinoffs; team diversity; disciplinary diversity; institutional diversity; upper echelon theory.
File-URL: http://www.inderscience.com/link.php?id=127438
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:472-496

Template-Type: ReDIF-Article 1.0
Author-Name: James A. Cunningham
Author-X-Name-First: James A.
Author-X-Name-Last: Cunningham
Author-Name: Nadja Damij
Author-X-Name-First: Nadja
Author-X-Name-Last: Damij
Author-Name: Dolores Modic
Author-X-Name-First: Dolores
Author-X-Name-Last: Modic
Title: An exploratory study of high-performance computing technology adoption over the stages of entrepreneurship
Abstract:
The focus of this paper is to examine how and when technology adoption occurs over the stages of entrepreneurship. High-performance computing (HPC) includes infrastructure and applications that are used for complex computational problems and can involve supercomputers and linked clusters. HPC can contribute to industry and firm competitiveness, particularly for small and medium enterprises (SMEs). Against this background, there remains a limited understanding of how and when technology adoption occurs over the stages of entrepreneurship. In addressing this deficit our exploratory study identifies how and when technology adoption occurs over the stages of entrepreneurship. Our contribution is twofold. First, we develop a taxonomy of HPC with respect to the how and when of technology adoption. Second, we identify three categories of technology adoption - emergent imitators, early adopters and growth assimilators across two stages of entrepreneurship - emergent and late-stage.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 497-526
Issue: 4/5
Volume: 14
Year: 2022
Keywords: entrepreneurship; technology adoption; HPC; high-performance computing; SMEs; late-stage entrepreneurship; emergent entrepreneurship.
File-URL: http://www.inderscience.com/link.php?id=127444
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:497-526

Template-Type: ReDIF-Article 1.0
Author-Name: Carolin Bock
Author-X-Name-First: Carolin
Author-X-Name-Last: Bock
Author-Name: Daniel Dilmetz
Author-X-Name-First: Daniel
Author-X-Name-Last: Dilmetz
Title: The indication of creativity and its effect on the probability of success of crowdfunding projects
Abstract:
The growing importance of crowdfunding as a fundraising option alongside traditional forms of financing resulted in an emerging stream of literature that examines the mechanisms for increasing the probability of success of crowdfunding propositions. A significant part of this literature focuses on the examination of signals that entrepreneurs can provide to reduce information asymmetries. We extend this research by investigating the proactive communication of the creativity within crowdfunding projects as a potential signal for success. Using 39,718 campaigns from Kickstarter, we investigate the occurrence of words associated with creativity and the resulting influence on the probability of success. Our results show that the proactive communication of the creativity of the projects can have a positive influence on the probability of a successful fundraising campaign. We also provide evidence that the communication of creativity can be influenced by other signals, depending on the context in which these signals are used.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 527-570
Issue: 4/5
Volume: 14
Year: 2022
Keywords: success probability; crowdfunding; creativity; entrepreneurship; signalling theory; kickstarter.
File-URL: http://www.inderscience.com/link.php?id=127449
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:527-570

Template-Type: ReDIF-Article 1.0
Author-Name: Dan Johansson
Author-X-Name-First: Dan
Author-X-Name-Last: Johansson
Author-Name: Johan Karlsson
Author-X-Name-First: Johan
Author-X-Name-Last: Karlsson
Title: Information technology and high-impact entrepreneurship
Abstract:
This paper presents a conceptual framework for analysing the role of information technology in the formation of high-impact entrepreneurship. Entrepreneurial decision-making is contextualised in the setting of competent teams, and where its role in economic growth is modelled as part of a minimum set of actors necessary for the generation of innovative output - so-called collaborative innovation blocs. By departing from a collective of actors, rather than the individual entrepreneur, transactions costs are shown to become central for understanding the antecedents and conditions for high-impact entrepreneurship as core strategic decisions are often based on asymmetric information and bounded rationality. Subsequently, this also implies a central role for information technology in facilitating the processes that precede high-impact entrepreneurship through its ability to bridge or reduce information asymmetries. Based on the presented framework, the development of information technology is hypothesised to particularly favour new entrepreneurs with growth ambitions, new firm entry, and high growth firms by accelerating the creation and allocation of knowledge.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 449-471
Issue: 4/5
Volume: 14
Year: 2022
Keywords: collaborative innovation bloc; creative destruction; information technology; entrepreneurship; transaction costs.
File-URL: http://www.inderscience.com/link.php?id=127450
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:449-471

Template-Type: ReDIF-Article 1.0
Author-Name: Christoph Stock
Author-X-Name-First: Christoph
Author-X-Name-Last: Stock
Author-Name: Stefan Hossinger
Author-X-Name-First: Stefan
Author-X-Name-Last: Hossinger
Author-Name: Arndt Werner
Author-X-Name-First: Arndt
Author-X-Name-Last: Werner
Author-Name: Sabrina Schell
Author-X-Name-First: Sabrina
Author-X-Name-Last: Schell
Author-Name: Jonas Soluk
Author-X-Name-First: Jonas
Author-X-Name-Last: Soluk
Title: Corporate social responsibility as a driver of digital innovation in SMEs: the mediation effect of absorptive capacity
Abstract:
Currently, digital innovation is one of the biggest challenges facing small and medium-sized enterprises (SMEs). This study analyses how SMEs can achieve higher levels of digital innovation despite their lack of resources. Using a dataset consisting of 520 German SMEs, we propose and test a model in which corporate social responsibility enables knowledge-sharing and supports SMEs in acquiring the resources needed for digital innovation development. As hypothesised, we found empirical evidence for a positive mediation effect in which absorptive capacity links corporate social responsibility and an SME's digital innovation output. In sum, this study helps to explain the relationship between corporate social responsibility and an SME's digital innovation, thus presenting far-reaching implications for SME research and the emerging scholarly debate on digital innovation in resource-constrained organisations.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 571-601
Issue: 4/5
Volume: 14
Year: 2022
Keywords: SMEs; small and medium-sized enterprises; boundary-spanning theory; digital innovation; corporate social responsibility; absorptive capacity.
File-URL: http://www.inderscience.com/link.php?id=127451
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:571-601

Template-Type: ReDIF-Article 1.0
Author-Name: Moritz T. Bruckner
Author-X-Name-First: Moritz T.
Author-X-Name-Last: Bruckner
Author-Name: Dennis M. Steininger
Author-X-Name-First: Dennis M.
Author-X-Name-Last: Steininger
Author-Name: Mark Bertleff
Author-X-Name-First: Mark
Author-X-Name-Last: Bertleff
Author-Name: Daniel J. Veit
Author-X-Name-First: Daniel J.
Author-X-Name-Last: Veit
Title: Crowdfunding and entrepreneurial failure: Why do overfunded startups collapse?
Abstract:
Crowdfunding has become a viable alternative to traditional venture capital and business angel funding. However, new ventures are prone to failure despite exceeding their funding goals. Extant literature presents broad knowledge of the antecedents of crowdfunding success but lacks insights into the causes and consequences of entrepreneurial failure, especially failure after massive overfunding via crowdfunding. We use a qualitative narrative approach to investigate how massive overfunding in crowdfunding threatens entrepreneurial activities. We present our findings as a taxonomy of the causes of failure, at the environmental, firm, and individual levels, based on actual cases that failed after receiving massive overfunding. Our framework challenges established thinking on resources and financing as measures of entrepreneurial success by providing insights into the processes leading to failure despite availability of resources. This serves as a reference for backers aiming to safely invest via crowdfunding and for startups to avoid the common pitfalls of overfunding.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 602-644
Issue: 4/5
Volume: 14
Year: 2022
Keywords: crowdfunding; failure; overfunding; startup; entrepreneurship; taxonomy; information systems.
File-URL: http://www.inderscience.com/link.php?id=127453
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:602-644

Template-Type: ReDIF-Article 1.0
Author-Name: Isabella Stojkovski
Author-X-Name-First: Isabella
Author-X-Name-Last: Stojkovski
Author-Name: Ann-Kristin Achleitner
Author-X-Name-First: Ann-Kristin
Author-X-Name-Last: Achleitner
Author-Name: Thomas Lange
Author-X-Name-First: Thomas
Author-X-Name-Last: Lange
Author-Name: Svenja Jarchow
Author-X-Name-First: Svenja
Author-X-Name-Last: Jarchow
Title: Equipment as a service and the role of technology: the transition towards usage-based business models
Abstract:
Technological advances open opportunities for new ways of profit generation or entirely new business models (BMs). 'Equipment as a service' (EaaS) is perhaps one of the most drastic examples of technology-enabled BM innovation (BMI) in the field today. To gather knowledge on this phenomenon, we choose an exploratory, qualitative research design and collect data through 26 semi-structured interviews with experts belonging to four relevant stakeholder groups. Drawing on BMI theory, we clarify: why firms move towards usage-based BMs, what the main usage-based BM archetypes are, and how shifting to these archetypes innovates the BM. We discuss technology as a key driver of usage-based BMI. Our analysis further identifies four usage-based BM archetypes: Leasing Plus, Flexible Contracting, Renting/Sharing, and Performance Contracting. While this study focuses mainly on BMI in established firms, the results are also relevant to younger firms and start-ups that are yet to determine their BM.
Journal: Int. J. of Entrepreneurial Venturing
Pages: 413-448
Issue: 4/5
Volume: 14
Year: 2022
Keywords: EaaS; equipment as a service; technology-enabled business model innovation; usage-based business models; business model canvas; business model innovation; company life cycle; pay-per-use.
File-URL: http://www.inderscience.com/link.php?id=127454
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Handle: RePEc:ids:ijeven:v:14:y:2022:i:4/5:p:413-448