Forthcoming articles


International Journal of Entrepreneurship and Innovation Management


These articles have been peer-reviewed and accepted for publication in IJEIM, but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.


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International Journal of Entrepreneurship and Innovation Management (55 papers in press)


Regular Issues


  • Sensemaking in collaborative networks: Creating and balancing activities in open business models   Order a copy of this article
    by Jean-Paul Peronard, Jacob Brix 
    Abstract: The purpose of the study is to advance research on open business models as activity systems (Zott and Amit, 2010) in collaborative networks. We utilize Bradleys (1995) theory of exchange behaviour to discuss how new joint activities can be explored and how existing activities can be redesigned to strengthen collaboration between companies. To enable this discussion, we delve into the sensemaking literature and theory from loosely coupled systems. Our discussion leads to the development of the Balanced Activity System (BAS) model. The papers key contribution is the prescriptive BAS model, which can be used strategically in collaborative networks to redesign or create new joint activities.
    Keywords: open business models; collaborative networks; innovation management; business development; sensemaking; exchange behaviour.

  • Creativity and Innovation: The Case of Haute Cuisine   Order a copy of this article
    by Angelo Presenza, Tindara Abbate, Alfonso Vargas-Sánchez, TIna Harrison 
    Abstract: This study focuses on creativity and innovation in the gastronomy sector, where both concepts have become increasingly relevant determinants of success, business performance and longer-term survival. Specifically, it investigates the key factors that effectively stimulate the actions and behaviours leading to a continuous flow of novel and useful ideas that can be turned into innovations. To achieve this, an inductive methodology was used, based on the study of a single but significant case, using the semi-structured in-depth interview. The results show that new ideas are mainly generated directly by the chef, hence individual features play a leading role, together with endless experimentation. They furthermore underline that the innovation process is mainly influenced by a trial-and-error approach, which is possible only if the chef has a genuine entrepreneurial spirit. These results hold several relevant theoretical and practical implications.
    Keywords: creativity; innovation; entrepreneurship; gastronomy; restaurant; haute cuisine; chefs; success factors; business performance; case study; Italy.
    DOI: 10.1504/IJEIM.2016.10001114
  • The Use of Equity Crowdfunding to Launch Innovative Ventures: Insights from three Cases   Order a copy of this article
    by Gianluca Elia, Alessandro Margherita, Fabrizio Quarta, Pasquale Stefanizzi 
    Abstract: Crowdfunding is the process of collecting money from a large audience to launch an entrepreneurial project. It is mostly based on the use of Internet to gather financial resources and leverage the wisdom of crowds to pre-validate the potential of a business idea. In particular, equity crowdfunding allows broad groups of investors to fund new companies in return for ownership of a piece of the business. It is thus an interesting option for supporting the launch of innovative companies, although its adoption is still limited by a number of complexities and an incomplete awareness of potential benefits. In such vein, this paper delineates the status of equity crowdfunding in Italy and presents the analysis of three successful equity crowdfunding campaigns, with the purpose to collect a set of lessons learned and provide useful insights for entrepreneurs and investors as well.
    Keywords: case study; crowdfunding; crowdsourcing; entrepreneur; equity; investor; Italy; project; start-up; technology entrepreneurship.

  • Corporate Governance and Initial Public Offerings   Order a copy of this article
    by Tarek MILOUD 
    Abstract: The study aims to determine how different factors shape the size of boards of directors in private firms conducting an initial public offering(IPO)on the regulated Euronext Paris market. These factors include the presence of a venture capitalist, ownership structure, firm-specific characteristics and CEO characteristics. To study the determinants of board size,we used a sample of 568 firms that went public from 1995 to 2012 and found that the boards tend to become more independent shortly after going public, which indicates that firms are affected by monitoring in financial markets. The study found strong evidence that ownership variables, board structure variables, CEO characteristic variables and firm characteristic variables tend to affect board size. Our results also indicate that venture capitalists are a major catalyst for IPOs because they provide financing and strategic advice, act as an opposing force to the CEO and shape the governance structure.
    Keywords: IPO; Corporate governance; Ownership structures; Board structure and Venture capital.

  • Delineating the Concept of Corporate Social Innovation: Toward A Multidimensional Model   Order a copy of this article
    by Ayla Esen, Ceyda Maden-Eyiusta 
    Abstract: Business organizations are facing increasing pressure over their role in society. Social innovation is a relatively new concept used to define efforts to develop novel and innovative solutions to social challenges. The aim of this study is to conceptualize a novel form of social innovation, namely, corporate social innovation, by focusing on social innovation efforts initiated by private sector organizations. This study also aims to provide insight into (1) the definition of corporate social innovation and (2) the key dimensions underlying the social innovation capability of business organizations. Data were collected through semi-structured interviews with 20 experts who play an active role in various social innovation projects in their respective organizations and/or adopt social innovation as an academic field of interest. The interview results extend our conceptual understanding of the corporate social innovation phenomenon by providing a comprehensive definition of the concept and describing a six-factor model of corporate social innovation capability.
    Keywords: corporate social innovation; social innovation; corporate social innovation capability.
    DOI: 10.1504/IJEIM.2018.10005946
  • Conditions of implementation of employee-driven innovation   Order a copy of this article
    by Soren Voxted 
    Abstract: This paper discusses the opportunities and barriers for the transfer of employees ideas to implementation of new solutions in employee-driven innovation. The theoretical approach is the existing research not only on innovation transfer but also on the transfer of learning, knowledge and technology. Based on the results from an action research project aimed at training and involving shop-floor employees in employee-driven innovation, the paper identifies five factors that have been crucial to the process of transfer from employees ideas to new solutions in production. The paper discusses five factors for transfer compared with existing literature and knowledge on employee-driven innovation.
    Keywords: Keywords: Employee-driven innovation; Transfer; Action Research; Employees participation; adult education; blue-collar workers.

  • High-tech entrepreneurial ecosystems: Using a complex adaptive systems framework   Order a copy of this article
    by Michael Sheriff, Moreno Muffatto 
    Abstract: The entrepreneurship ecosystem concept has been examined by various scholars who have developed different definitions and frameworks. High-tech entrepreneurial ecosystems are closely linked to innovative, high growth firms. Existing literature has not provided a definition for these types of ecosystems. We attempted to provide such a definition and also identify the key elements that comprise high-tech ecosystems. Our central emphasis was on using a complex adaptive system framework to interpret high-tech entrepreneurial ecosystems. In addition, we also explored the network effects and positive externalities of high-tech entrepreneurial ecosystems. Reflecting on these effects, we attempted to prescribe the roles of agents such as universities/research centres and local governments. Finally, we developed propositions that could be transformed into testable hypothesis for future empirical research.
    Keywords: entrepreneurship; entrepreneurial ecosystems; high-tech; complex adaptive systems.

  • New Independent Technology-Based Firms: Differences from other NTBFs and future research agenda for technology innovation management   Order a copy of this article
    by Fernanda Paula Arantes, Mauro Caetano, Veronica Angelica Freitas De Paula, Maria Salete Batista Freitag 
    Abstract: New technology-based firms (NTBFs) are responsible for the dissemination of technological innovation and industrial boosting, and have become attractive topics of research in the scientific field. However, literature is not uniform in its understanding of the concepts and definitions involving these organisations. Starting from the assumption that clarifying this distinction may contribute to the scientific production of knowledge directed to NTBFs specificities, this study first aims to suggest a new typology for NTBFs, differentiating between independent and dependent NTBFs. Second, this study presents an overview of recent innovation management studies on independent NTBFs among the top 10 technology innovation management journals through a systematic literature review. Research results indicate various distinctive features between these organisations and the existence of several literature gaps to be exploited, such as the licensing of innovation and intra-industrial innovation architectures.
    Keywords: technology based; new enterprises; innovation management; technology intensive enterprises; systematic literature review; new independent technology based firms; spin-offs; technological innovations; innovation management studies.

  • Learning and Unlearning in Firms Commercialising Product Innovations: The Short Term Performance Implications of Business Model Changes   Order a copy of this article
    by Anton Danielsen, Annaleena Parhankangas 
    Abstract: In this paper, we analyse changes in the business model components of firms commercialising product innovations. We distinguish between three different types of business model changes based on their learning vs. unlearning content. Drawing on a study of 61 product innovation commercialisation projects, we suggest that business model expansion has positive short term performance implications, while business model substitution is likely to hurt short term performance. No statistically significant relationship between business model contraction and short term performance was found.
    Keywords: Business model; learning; unlearning; product innovation.

  • Proposed Business Model for the Sustainability of Technology Business Incubators in Brazil and Portugal   Order a copy of this article
    by Antonio Lobosco, Emerson Antonio Maccari, Priscila Rezende Da Costa, Martinho Isnard Ribeiro De Almeida 
    Abstract: Technology business incubators (TBIs) can be used strategically as mechanisms for innovation and economic development processes in countries, states, municipalities, regions and companies. The study of their management model in terms of organizational efficiency and value creation is important. In this context, the general aim of this study was to evaluate the business models of incubators of technology-based Brazilian and Portuguese companies. With this specific aim, the study sought to (a) map the resources that affect costs and/or generate revenue; (b) study the nature of partnerships; (c) analyze value propositions; and (d) propose a business model for the sustainability of TBIs. The methodology employed was qualitative in nature and the multiple case study method was used at ten TBIs, six of which were Brazilian and four Portuguese. The result was the proposal of a business model for TBIs that includes good incubation practices for companies and helps incubators to achieve sustainability through organizational efficiency and value creation.
    Keywords: company incubators; technological basis company incubators; technological basis company; business model; business model for technological basis company incubators.

  • The Death Valley of the university-industry cooperation with universities: From intention to action   Order a copy of this article
    by Sara Fernández-López, David Rodeiro-Pazos, Nuria Calvo, Braulio Pérez 
    Abstract: Research transfer depends mostly on the firm's goodwill for cooperation. However, very few papers deal with the intentions and attitudes of firm's representatives when they decide to cooperate with universities. Following an outside/in approach, this paper explores firms' attitudes towards R&D cooperation by focusing on the determinants of both having an interest in engaging with universities and the decision to pursue it. Using a sample of 262 firms, we studied the process of the development of interest to the formal decision to collaborate and found that the type of innovative activities carried out by the firm could explain the firm's interest, but not the formal decision to cooperate with universities. In turn, the strategic focus of the firm explained the decision to cooperate with universities. These results reinforce the need to design policies that build relations between researchers and firms at an individual level based on the firm's needs, instead of focusing on the institutional level based on the university's needs.
    Keywords: University-industry collaboration; Strategy; Research and Development; Innovation transfer.
    DOI: 10.1504/IJEIM.2017.10006599
  • Boards of directors roles and size: what effects on exploitative and exploratory innovations? Case of listed Tunisian firms   Order a copy of this article
    by Sarra Berraies, Wajdi Ben Rejeb 
    Abstract: The purpose of this paper is to investigate the effect of the size and the roles of the board of directors (BD) on two types of innovation namely exploitative and exploratory innovations. These relationships have been little explored in the literature, particularly in developing economies. Using a quantitative approach, an empirical study was conducted on a sample of 51 Tunisian listed companies. It revealed that exploratory innovation is promoted by BDs service role. The results also highlight that exploitative innovation is positively related to the BD's strategy role but negatively associated with BDs control role. The findings do not show a significant effect of BDs size on the two types of innovation. This research provides insights to companies looking to improve their corporate governance practices and develop a sustainable competitive advantage based on innovation.
    Keywords: Keywords: Corporate Governance; board of directors; board size; service role; control role; strategy role; exploitative innovation; exploratory innovation; Tunisian firms; multiple regression analysis.

  • Territorial agglomerations and corporate social responsibility: The role of science and technology parks   Order a copy of this article
    by Jose Moyano-Fuentes, Antonia Rodriguez-Martinez, Juan-Jose Jimenez-Delgado 
    Abstract: This paper is framed within the stream of research that investigates the factors that explain corporate social responsibility and analyses the role played by the immediate area in which a company operates. Its purpose is to examine the impact of science and technology parks on the social responsibility of companies physically located in territorial agglomerations. Using reasoning derived from institutional theory, the study examines the effects of the sense of belonging to a park, the involvement of institutions with links to a park, and the know-how that exists within a park. An analysis of a sample of 239 companies in high tech sectors in Spanish science and technology parks showed that all three aspects have a significant positive influence on the implementation of corporate social responsibility, although know-how was proved to be of secondary importance compared to a sense of belonging and the role played by institutions interrelating with parks.
    Keywords: Corporate social responsibility (CSR); territorial agglomerations; science and technology parks; sense of belonging; Involvement of local institutions; know-how.

  • Policies supporting the Diffusion of Technology. The need for a systematic analysis.   Order a copy of this article
    by Adele Parmentola, Michele Simoni, Ilaria Tutore 
    Abstract: Diffusion of innovation policies are aimed at spreading technological capabilities throughout the industrial structure, facilitating the ongoing and incremental adaptation to change. Nevertheless, economic literature on technology policies has focused predominantly on policies of generation, underestimating the effects of policy interventions in the diffusion process. According to these considerations, the purpose of this paper is to identify the policies able to support the diffusion of an innovation by analysing the studies that specifically rely on the topic, and to provide a theoretical framework that links the policies to support the dissemination of an innovation to the barriers that hinder the diffusion of a new technology among a community of adopters. The framework gives a comprehensive view of diffusion of innovation policy, and to provide useful suggestions for policy makers.
    Keywords: diffusion of innovation; technology policies; barriers to diffusion.
    DOI: 10.1504/IJEIM.2017.10008456
  • How open is the food NPD process? Preliminary results from an explorative study   Order a copy of this article
    by Barbara Bigliardi, Francesco Galati, Filippo Pavesi 
    Abstract: The food industry is facing a large number of challenges and a new paradigm for the development, acquisition and implementation of the huge potential of scientific breakthroughs is needed. Traditionally, the food NPD process is a closed process, where the inputs for new ideas come mainly from internal sources and new products are developed within the companys boundaries. Recently, this process has been modified to accommodate the OI paradigm, that addresses these challenges and opportunities, but it is still gaining momentum in the food sector. The main objective of this exploratory study is to investigate which stages of the NPD process food companies use to open, as well as which types of collaborations are established during each (open) stage of the NPD process. Three food companies were analysed and results suggest that the NPD process is more open during the very first phases, during the so-called fuzzy front-end. As for the collaboration, in the first stages of the NPD process the role played by customers and consumers is highly relevant, conversely suppliers centrality becomes higher when technical knowledge is required.
    Keywords: New Product Development; Open innovation; collaboration; food industry; case study.

  • Shifting business models in the electronic gaming industry - From publisher backing to co-creation and crowdfunding   Order a copy of this article
    by Thomas Thurner, Melina Kroenert, Adrian Goersch 
    Abstract: The electronic gaming industry is in a process of massive change from publisher-based to artist-led-distribution. Still, insights into how this shift of paradigm plays out are largely absent from the academic literature. This paper studies the changing business model in the electronic gaming industry on the example of the game Rouge Stormers by the German indie game developer Black Forest Games. The studio worked on their title from 2006 to the present day during a time of far-reaching changes in the electronic game industry. The move-over to the new business reality led through turbulent times as publishers struggled to commercialize their projects and many went bankrupt. Also the technological change led to fading interests in consoles and required adjustments. The crowdfunding platform kickstarter was an entry point, but a previously failed project scared off potential publishers. Also, funding for the entire development process is impossible to acquire as the required capital is too high. A combination of crowdfunding with early access, a platform that specializes on early commercialization of games, proved successful. The paper demonstrates that the paradigm shift especially for small game developers is a messy trial-and-error process that threatens their very existence.
    Keywords: computer games; video games; game development; co-creation; crowdfunding; community innovation; business model innovation;.

  • Exploring the role of context in motivating entrepreneurial behaviours: The motivations of migrant entrepreneurs in the Republic of Ireland and Northern Ireland   Order a copy of this article
    by Steven Lucas 
    Abstract: The personality traits approach is a popular way of understanding entrepreneurial motivation. This approach emphasises the importance of internal characteristics as drivers of entrepreneurial motivation. One of the central issues with the personality traits literature is therefore a tendency to overlook the importance of the actors external context in facilitating entrepreneurial motivations. The purpose of the paper is to address this gap by making three exploratory arguments, each of which is demonstrated through an analysis of the motivations of 43 migrant entrepreneurs in the Republic of Ireland and Northern Ireland. The arguments are 1) that context is an active force influencing entrepreneurial motivation; 2) that external environments are experienced differentially by actors; and 3) that context has both spatial and temporal elements.
    Keywords: migrant; return migrant; entrepreneurship; self-employment; business; start-up; agency; context; motivation; biographical embeddedness; mixed embeddedness; personality traits.

  • Marketing Capability, Technical Capability, or Degree of Product Innovation: What Really Matters in leveraging the Sales of Technology-based Start-ups?   Order a copy of this article
    by Luis Carlos Padrão, Tales Andreassi, Luiz Artur Ledur Brito 
    Abstract: The objective of this study was to analyze the influence of incubator marketing support on the product performance of incubated NTBFs. The studys theoretical contribution sheds new light on NPD in incubated NTBFs by analyzing the effect of an important type of incubator support on NPD: incubator marketing support. A total of 512 target NTBFs were identified, and 250 participated in the survey. We found that incubator marketing support positively influences marketing capability. Marketing capability is a key factor for promoting sales growth in both low and high turbulence environments, although the effect is more pronounced in low turbulence environments.
    Keywords: Product development; new technology-based firms; incubator; entrepreneurship.

  • Supporting Entrepreneurship Policy: An Overview of Italian Start-up Competitions   Order a copy of this article
    by Renato Passaro, Ivana Quinto, Antonio Thomas 
    Abstract: Innovative start-ups are currently considered to be an important channel for industrial change and for the renewal of economic systems. Among the initiatives that have been implemented to promote their diffusion, start-up competitions (SUCs) have received much recognition from policy-makers, followers and participants. Although the number of SUCs has grown, there are no comprehensive or systematic overviews of SUCs in the literature. Hence, this paper presents a cross-sectional exploratory analysis of Italian SUCs to provide an overview of their core characteristics. This in-depth study will support the diffusion of SUCs and will provide a foundation for the creation of a suitable ecosystem to improve the processes of business start-ups. The results show that the diffusion of SUCs is accompanied by deep structural changes, which can be interpreted as a consequence of the growing involvement of private organizations in promoting SUCs. Nevertheless, wide-ranging public intervention appears to be necessary to increase the effectiveness of SUCs.
    Keywords: Entrepreneurship policy instrument; Start-up Competitions; Business Plan Competitions; Start-up ecosystem; Entrepreneurial process; Innovation; Policy-maker.

  • The hierarchical relationships between CEO characteristics, innovation strategy and firm performance in open innovation   Order a copy of this article
    by Joon Mo Ahn 
    Abstract: Open innovation (OI) has become an important business norm of successful firms; however, its strategic aspects and the role of a key individual, such as a chief executive officer (CEO) in its adoption, have been under-researched. This paper aims to investigate whether OI is relevant to SMEs and how CEO characteristics influence firm performance through OI. The hierarchical relationships between a firm and CEO characteristics are analysed with structural equation modelling (SEM) using data from 401 innovation-oriented SMEs in Korea. The results indicate that (1) openness can make a greater contribution to firm performance, (2) CEO characteristics are positively associated with openness, and (3) government support positively influences both openness and internal R&D. The research suggests that the human elements in SMEs should place a greater emphasis on OI to enhance firm performance and that policy makers should consider developing various programmes for key decision makers in SMEs to increase their awareness of OI.
    Keywords: open innovation;CEO;SME;structural equation modeling.

  • Stimulating and inhibiting factors of patent filing with Brazilian universities   Order a copy of this article
    by Fernanda Pereira, Helder Costa, Valdecy Pereira 
    Abstract: One of the roles to be played by the University, besides the production of knowledge, is its contribution to technological innovation, which in some cases is manifested by the filing of patents. This characteristic becomes more important in countries that are in the development stage, as is the case of Brazil, one of the members of the BRICS. In this context, the following questions arise: What does the patent filing map in Brazil with the participation of Brazilian universities look like? And what are the factors that stimulate or inhibit the production of patents in this country? By identifying the main inhibiting and stimulating factors for the patenting in Brazilian universities from the perspective of Innovation Agencies, this unprecedented study may support policies to promote technological innovation and, in particular, to increase patent filing with the participation of universities.
    Keywords: Patents; Brazilian universities; inhibiting factors; stimulating factors; Innovation Agencies; Brazil; patent filing map.
    DOI: 10.1504/IJEIM.2017.10011504
    by Teresa Mariño-Garrido, Domingo García-Pérez-de-Lema, Antonio Duréndez 
    Abstract: This paper contributes to the literature on accelerators by filling the gap concerning the criteria used to select venture projects. Seed accelerators develop strict and rated assessment criteria for project selection that grants them objectivity and guarantees program success. This study uses a sample of 309 cases to analyse the criteria applied by an accelerator when selecting projects. Among these cases, 15 entered the accelerator stage. Our work first examines variables linked to the business project, such as the extent of innovation, extent of investability, speed of acceleration and extent of team consistency. It then assesses entrepreneurial skills such as negotiation, teamwork, creativity, communication and leadership. Our findings show that extent of team consistency and speed of acceleration are the most widely-used variables to assess a business project, while the most valued entrepreneurial skills are leadership followed by creativity. Furthermore, the project is more likely to enter the acceleration stage in the presence of higher team consistency and creativity.
    Keywords: Seed accelerator; entrepreneurship; start-up; venture capital.

  • Entrepreneurs' views on corporate social responsibility communication in SMEs − insights from Germany   Order a copy of this article
    by Jelena Simon, Kerstin Ettl 
    Abstract: Although the entrepreneur plays a crucial role in SME development, discussions about corporate social responsibility (CSR) and the reasons for a lack of CSR communication by companies are paradoxically usually held without listening to the entrepreneurs themselves. We address this gap and two questions from an entrepreneurs point of view: How, for what reasons and to whom do SMEs currently communicate their CSR activities? What do SMEs themselves regard as requirements for effective and manageable CSR communication? We refer to case studies developed through in-depth interviews with SME owners in Germany and aim to illustrate the motives and challenges that entrepreneurs face when they talk (or do not talk) about and publicize (or do not publicize) fulfilled social responsibility actions. Our results emphasize the great importance of the entrepreneurs attitude towards and knowledge about corporate social responsibility in the method and intensity of CSR communication in SMEs.
    Keywords: Corporate Social Responsibility; CSR; Sustainability; SMEs; Entrepreneurs; Commu-nication; CSR Communication; Germany; Qualitative Approach; Case Study.

    by Franciane Hochleitner, Anna Arbussà, Germà Coenders 
    Abstract: The purpose of this article is to shed light on the patterns of inbound open innovation practices of SMEs and to explore potential size and country specificities. We base the analysis on data provided by three waves of the Eurostat Community Innovation Survey (CIS) for Spanish and Portuguese firms. The study identifies 5 innovation clusters with different openness profiles: closed innovators, absorbers of specialised knowledge, acquirers, co-operators and absorbers of industry knowledge. We find no substantial differences between small and medium-sized firms with regards to their innovation profiles, but there are substantial differences between the profiles of Spanish and Portuguese firms and the trends in said profiles. Portuguese firms increasingly rely on technology acquisition and Spanish firms on public institutions. These results could help shape national policy on intellectual property and public research systems, among others.
    Keywords: Cluster analysis; SMEs; open innovation; innovation activities; innovation policy.

  • How does the Organizational Structure influence a Work Environment for Innovation?   Order a copy of this article
    by Eliana Gaspary, Gilnei Luiz De Moura, Douglas Wegner 
    Abstract: Companies operating in dynamic and rapidly changing markets need to design an organizational structure that fosters innovation. However, there are still remaining gaps in literature regarding the impact of organizational structure on the development of an environment that stimulates creativity and innovation. This paper analyzes the influence of different dimensions of organizational structure on the development of a work environment for innovation. A case study with a mixed method approach was conducted in the Brazilian subsidiary of a multinational company recognized worldwide for its innovative capacity. The results contribute to the theory by showing that several structural dimensions mainly the level of communication, level of formalization and job codification affect the work environment for innovation. The study also enriches the comprehension on how managers should design specific structural dimensions to stimulate creativity and innovation.
    Keywords: innovation management; work environment for innovation; climate for innovation; creativity; organizational structure; matrix organization; human resources.

  • Venture capital firms valuation in bull and bear markets: Evidence from Sweden   Order a copy of this article
    by Anders Isaksson, Öystein Fredriksen 
    Abstract: This study uses an experimentally designed case study approach to investigate Swedish venture capital firms valuation practices in two different economic contextsthe economic boom (bull market) of 1999 and the downturn (bear market) of 2002. A key finding in our study is that during economic downturns, venture capital firms employed fewer and less advanced valuation methodsrelying more on rules of thumb and gut feeling than during boom times. We conclude that investor behaviour is considerably affected by current economic conditions and advocate strongly that it be considered in future research on not only venture capital valuation, but also investor behaviour in general. This study thus enriches the knowledge of venture capitalists valuation practices, in general, and how market conditions affect them. Furthermore, the results can also aid researchers in developing more relevant theories of valuation, valuation models, and valuation practices.
    Keywords: venture capital; private equity; valuation; asset-based valuation; discounted cash flow valuation; required rate of return; cost of capital; dot-com bubble; economic bubbles; capital market myopia; bull market; bear market; investor behaviour.

Special Issue on: When Entrepreneurship Meets Innovation

  • Potential International Competitiveness and Co-innovation of technology-based international SMEs   Order a copy of this article
    by Angelika Löfgren 
    Abstract: This paper contributes to an integrated entrepreneurship perspective in the cross-section of research on networks, innovation and internationalization. The study promotes a conceptualization based on international competitiveness literature in order to further such an integrated entrepreneurship perspective. By focusing on potential international network competitiveness, delineated as network based sources of international competitiveness, the sustainability of international entrepreneurial firms is emphasized. The paper specifically draws attention to the relationship between network based sources of international competitiveness and international technology development. Three hypotheses are developed and tested on 142 technology-based internationalizing SMEs by means of linear structural relations (LISREL). The results indicate that there are direct- and indirect positive effects between network-based sources of international competitiveness and international technology development.
    Keywords: entrepreneurship, innovation, international, competitiveness, technology development, networks, SMEs, LISREL, potential international competitiveness, international entrepreneurship, co-innovation

Special Issue on: Employee-driven Innovation

  • What Drives Different Employee Types of Innovative Behaviour? Development and Test of an Integrative Model of Employee Driven Innovation in German Firms   Order a copy of this article
    by Veronika Kurz, Stefan Huesig, Michael Dowling 
    Abstract: Innovation is typically attributed to certain groups of employees such as functional specialists, professionals, and R&D experts. The innovative potential of lower-level employees is often overlooked. With this study, we contribute to innovation research by analysing the innovative behaviour of ordinary employees compared to other kinds of employees from whom highly innovative behaviours are expected. We develop and test an integrative model of employee driven innovation consisting of different intra-organisational drivers and simultaneously control for personal characteristics. Our results show that the most important factor for influencing innovative behaviour is an appropriate job design that includes autonomy and innovativeness as job requirements. In addition, the personal factors of openness to new experiences and role breadth self-efficacy seem to be essential. Moreover, we found that the degree of innovative behaviour of ordinary employees is not significantly different from other groups of employees who are expected to focus on innovation activities.
    Keywords: Innovative behavior; employee driven innovation; job design; leadership; group; organizational factors.

  • Employee-driven innovation into practice : managing the tension between organization and innovation ?   Order a copy of this article
    by Carine DESLEE, Aubépine DAHAN 
    Abstract: This research empirically examines three cases of employee-driven innovation (EDI) to assess the tension it creates in a large bureaucratic organization and discusses the nature and potential resolution of such tension. We contribute to the literature on the tension between the organization and innovation by mobilizing the concept of practice to offer a fresh perspective on the issue. We propose that EDI is inspired by everyday practice, which comes in the form of a situated, informal type of knowledge individuals widely and casually rely on to perform their daily tasks and professional duties. Driven by the search for improvement, practice not only reproduces existing knowledge but also creates new knowledge at all levels of the organization. Thus, we investigate the link among innovation, specific positions in the organization, and hierarchy. Specifically, how can a large bureaucratic organization integrate a collective, diffuse, flowing-from-practice form of innovation?
    Keywords: employee-driven innovation; Practice; SNCF.

  • Similar organizational structures, different interpretations: perceived possibilities for employee-driven innovation in two teams within a large industrial organization   Order a copy of this article
    by Tea Lempiälä, Sari Yli-Kauhaluoma, Jaana Näsänen 
    Abstract: Our study discusses how two teams within a similar structural setting perceive their ability to engage in employee-driven innovation in a highly differing manner. We show how way the team members perceived their role and relevance in the organization influences whether they experience the organizational environment as rigid and unnegotiable or flexible and permitting of proactive innovation efforts. Drawing on literature on employee-driven innovation and idea championing, we contribute to the discussion of how employees can be supported to grow into idea champions (and hence to perceive opportunities, rather than limitations) in industrial organizations.
    Keywords: Employee-driven innovation; idea championing; managerial support; case study; qualitative research; industrial organizations; innovation structures; intrapreneurship.

  • Fostering Employee Innovative Behavior through Receipt of Helping and Voice Behaviors from Coworkers: The Mediating Roles of Knowledge Transfer and Knowledge Creation   Order a copy of this article
    by Shih Yung Chou, Brandon Walker-Price 
    Abstract: Given the impact of employee innovative behaviour on organizational success, a considerable amount of research attention has been paid to identifying determinants of employee innovative behaviour. However, relatively little is known about the impact of an employees receipt of helping and voice behaviours exhibited by co-workers on the employees innovative behaviour. Thus, drawing upon theories of workplace learning and knowledge management, we develop a conceptual model describing how receipt of helping behaviour and voice behaviour fosters employee innovative behaviour through formal, informal, and incidental learning. Additionally, we theoretically explore the mediating roles of knowledge transfer and knowledge creation. By doing so, our conceptual model provides important theoretical contributions to the literature. More importantly, our conceptual model offers crucial managerial insights into fostering employee innovative behaviour through effective organizational learning and knowledge management practices that encourage interpersonal helping and constructive criticism.
    Keywords: employee innovative behaviour; receipt of helping behaviour; receipt of voice behaviour; knowledge transfer; knowledge creation.

  • Organizing routines and spaces for employee-driven innovation in global work arrangements   Order a copy of this article
    by Maja Lotz 
    Abstract: Based on a longitudinal case study in a multinational corporation operating in the medical industry, this paper shows how a group of employees from different sites and from various organizational levels learnt and innovated new training practices as they enacted and made use of organizational routines to develop a global training system that supported the companys overall standardization process. The paper identifies how, in particular, three interrelated routines appear to trigger moments of recursive learning and employee-driven innovation (EDI) among employees. These routines are: 1) an organizational form of global communities of practice, 2) a cookbook representing a set of guidelines to ensure a common approach to the sharing of best practices, and 3) a set of governance procedures to support continual improvements. They do so by allowing employees to a) collectively engage in and work towards a common purpose; b) identify, document and share knowledge about the problems and solutions they encounter in regard to their work; and c) continually improve work practices. The findings contribute to an understanding of how organizational structuring of EDI can be developed and managed, and highlight the importance of deliberately organizing routines, spaces and moments to foster such dynamics.
    Keywords: Employee-driven innovation; learning; routines; space; work practices,communities; organizing; distributed innovation; global work contexts; multinational corporations.

  • Bottom-linked innovation: Collaboration between middle managers and employees   Order a copy of this article
    by Catharina Juul Kristensen 
    Abstract: Employee-driven innovation is gaining ground as a strategy for developing sustainable organisations in the public and private sector. This type of innovation is characterised by active employee participation, and the bottom-up perspective is often emphasised. This article explores an issue that has hitherto been paid little explicit attention, namely collaboration between middle managers and employees in innovation processes. In contrast to most studies, middle managers and employees are here both subjects of explicit investigation. The collaboration processes explored in this article are termed bottom-linked innovation. The empirical analysis is based on an in-depth qualitative study of bottom-linked innovation in a public frontline institution in Denmark. By combining research on employee-driven innovation and middle management, the article offers new insights into such collaborative processes.
    Keywords: Employee-driven innovation; bottom-linked innovation manager - employee collaboration; middle management; front-line institutions; social institutions; public sector.

  • Do It Yourself A Lean Startup Toolbox for Employee-Driven Green Product Innovation   Order a copy of this article
    by Anke Buhl 
    Abstract: Green product innovation (GPI) has become a key strategic issue for companies that aim at improving their environmental and economic performance. In order to harness their entire innovation potential, companies are well advised to integrate all employees into GPI processes. The concept of employee-driven innovation (EDI) recognizes an underutilized potential of employees who are not formally assigned to innovation tasks. Still, there exists only limited research on tools and practices which employees can apply when engaging in GPI activities. With the aim of filling this void, this conceptual paper draws on the Lean Startup (LS) approach which applies lean thinking to entrepreneurship and innovation processes. LS principles complement GPI development since lean and green paradigms share the objective of resource efficiency and waste avoidance. This paper develops a process framework and toolbox which employees can use to validate and refine their GPI ideas before presenting them to their managers. Furthermore, it discusses to what extent the application of the presented LS framework enables employees to propose valuable GPI ideas.
    Keywords: employee-driven innovation; employee participation; green product innovation; Lean Startup; process framework; innovation toolbox.

  • Employee-driven innovation and reverse supply chain management   Order a copy of this article
    by Alena Klapalová 
    Abstract: Reverse flows, which emerge and move within supply chains, may represent a significant source of inspiration and ideas for innovations. The purpose of this paper is to contribute to the current knowledge of reverse supply chain management within the context of employee-driven innovation theory. The empirical investigation addresses two main questions: 1. What is the position of employees in contrast to the other innovation-driving entities in firms as the initial idea carrier for potential innovation stemming from dealing with reverse flows?; 2. Which management characteristics distinguish firms with their ordinary employees participating in the innovation processes from the perspective of reverse supply chain management? The findings are based on an analysis of data from 232 firms and show both the positive position of employees in driving the innovation effort and some differences which require further research and management practice.
    Keywords: innovation management; ideas and inspiration; employees; employee-driven innovation; reverse supply chain management; reverse flows.

  • Key Mechanisms for Employee-Driven Innovation in Governmental Client Organisations   Order a copy of this article
    by Henrik Sorensen, Lene Faber Ussing, Søren Wandahl, Randi M. Christensen 
    Abstract: In order to ensure that knowledge and ideas are transformed into innovative contributions, a systematic approach is important. The aim of this research was to identify the specific mechanisms that are key to implementing an innovation process model when conducting Employee-driven Innovation in a governmental client organisation. The methodological approach was an exploratory case study of a governmental client organisation within the Danish construction industry. The units of analysis were groups of employees and managers within the case organisation. The primary mechanisms identified were the mechanisms of organisational trust, innovation safety, organisational practices, cultural settings and the recognition and rewards structure to motivate employees. The decision-making procedures should be transparent especially to the idea-owners and the employees involved, and the implementation and putting into practice should be prioritised phases in the innovation process.
    Keywords: Employee-Driven Innovation; Innovation mechanisms; Governmental organisations; Case study; Construction industry,.

  • Co-design in the prison service: A learning perspective on employee-driven innovation   Order a copy of this article
    by Marie Aakjaer 
    Abstract: This article presents a case of how co-design approaches are used as a means to facilitate employees learning and innovation. Despite a growing interest in co-design and the effects of engaging citizens (or users) in public service innovation, far too little attention has been paid to the potential influence and learning dynamics of i) inclusion of user perspectives, and ii) of using co-design approaches on employees practice, learning, and innovation. Through the theoretical lens of boundary encounters, this article offers a learning perspective on the influence of co-design approaches on employee-driven innovation. It reports the findings from an exploratory case study in a prison context. The analysis shows that including user perspectives creates strange perspectives on familiar routines, and that reflective and transformative learning dynamics emerge in sequences of experience prototypes and storytelling. It is argued that co-design approaches hold potential for employees to reframe meaning and innovate practice, and can enhance individual and organisational learning.
    Keywords: 1) employee-driven innovation; 2) workplace learning; 3) co-design; 4) boundary encounters.

Special Issue on: ICOM2015 Entrepreneurship and Innovation Management in the 21st Century

  • Relative Importance of Design Parameters: A Study of Selected Indian Organizations   Order a copy of this article
    by Amit Kundu, Arabinda Bhattacharya 
    Abstract: The central problem is to design the organizations for superior performance on the basis of redesign mechanisms such as uncertainty, differentiation and integration. In the backdrop of the ongoing economic liberalization in India, the specified sector that includes Chemical; Petro-chemical Process Industry; Agricultural related Industry; Processed Food Industry; Bio-Chemical related Industry was undertaken for research. The objective of the present study is to estimate the relative importance of uncertainty, differentiation and integration and also of their different levels, indicating the design specificity of the groups.On the basis of the data, three groups have been identified. Relative importance of design parameters and also that of their levels have been estimated for each of the group. Three groups face the business environment in different ways. Organizations of Group I and Group II are exposed to highly vulnerable market created by the liberalized economy of India. Organizations of Group I are flexible enough to cope up with the competitive environment by maintaining the optimum balance in between the internal design mechanisms, namely, differentiation and integration. Organizations of Group II are dynamic enough to maximize its differentiation mechanism. On the other hand, organizations of the group III are so regulated (rigid in nature) that the mechanism of differentiation ultimately poses a threat for them. They prefer to be more integrated for their sustenance in the turbulent market. Their restructuring mechanisms also vary from one sector to another. So, those three groups have to formulate the three redesign strategies in different ways for superior performance.
    Keywords: Organization Design, Performance, Chemical Sector, India, Conjoint Analysis

  • Women Entrepreneurship in India: A Review of Barriers and Motivational Factors   Order a copy of this article
    by Sai Vijay Tata, Sanjeev Prashar, Chandan Parsad 
    Abstract: As the traditional definition of entrepreneurship had never focussed on the gender of the entrepreneur, it could very well be used to define a women entrepreneur without constraints. Entrepreneurship by women can be understood as the practice wherever females systematize various elements of production, willing to take risks and be responsible for employing other people. Focussing on the structural reforms in Indian economy, the well-known Liberalisation, Privatisation and Globalization policies in early 1990s, completely changed the Indian outlook. It had spurred the start-up phenomenon in the country and emphasis on women entrepreneurship had gained significantly ever since. rnThere are many prosperous women entrepreneurs who have outplayed their male counterparts in many aspects. Nevertheless, women as entrepreneurs are less than one third of the total gamut of entrepreneurs in the country. The main objective of this study is to identify barriers that hinder womens progress as entrepreneurs and examine the factors that motivate them to take up entrepreneurship. On the basis of review, this conceptual study has suggested few propositions that could be further empirically tested. rn
    Keywords: Women entrepreneurs; Entrepreneurship; Barriers; Motivation; Opportunity for entrepreneurship; Gender

  • Prioritising the factors promoting innovation in Emirati female-owned SMEs: AHP Approach   Order a copy of this article
    by Huda Al Matroushi, Fauzia Jabeen, Sherine Abdel All 
    Abstract: The purpose of this study is to identify and prioritise the various factors linked to innovation in nascent and established SMEs owned by Emirati women in the United Arab Emirates (UAE). Emirati female entrepreneurs (n=30) were selected from the various Emirates based on their nascent or established business stage. An AHP technique was used to analyse the weight of critical factors. Collectively, the respondents prioritized innovation strategy, opportunity recognition, finance and motivation, as the main criteria that promote innovation in Emirati women owned SMEs in the UAE. Raising and managing internal and external finances were also seen as a barrier that women face that would prevent them from starting an innovative business. The outcome of the study is expected to provide policy makers with explicit ideas about the importance of the variables linked to innovation in Emirati female owned SMEs. This will help them to systemise and prioritise the critical decisive innovation development factors in Emirati owned SMEs, which will eventually increase the participation of Emirati women in the economic growth of the UAE. This study is the first of its kind to present an AHP model, and is a relevant contribution to both the literature and the practice of innovation.
    Keywords: AHP; Emirati; SMEs; Female entrepreneurs; Innovation; United Arab Emirates.

  • Key Drivers for Service Innovation in the UAEs Hotel Sector   Order a copy of this article
    by Hasan Albeshr, Chowdhury Hossan 
    Abstract: The tourism sector in the UAE, which is witnessing strong growth, reached 13.8 million arrivals in 2013. The MasterCard Global Destination Cities Index reported that Dubai was ranked as the fourth most visited global site in 2015. In February 2015, the occupancy rate in Dubai reached 86.2% and helped contribute to the AED 6.5 bn in industry revenue in 2014. Service innovation helps hotels sustain the current market and create new business. The literature has focused on innovation more than efficiency as a vital factor of business success, growth, or failure. The main objective of the current study is to investigate the relationships between service innovation in the hotel sector in UAE and organizational support for innovation, resistance to change, organizational trust, work engagement, and organizational conflict. Quantitative research methods were used in this study. The research was conducted among 326 employees working in different levels of departments in UAE hotels. The main results of the study show that organizational support for innovation, organizational trust, and work engagement are positively correlated with service innovation, whereas resistance to change and organizational conflict failed to achieve statistical significance with service innovation.
    Keywords: Innovation, Service Innovation, Work Engagement, Organizational Trust, Resistance to Change, Organizational Conflict, Support for Innovation, UAE, Dubai, Hotels, Hospitality

  • Building organisational resilience: role of cherishing at work   Order a copy of this article
    by Rabindra Kumar Pradhan, Pratishtha Bhattacharyya 
    Abstract: The present day organisational needs are more centred on exploring positive behavioural approaches and psychological capacities ensuring sustained high performance, a resilient workforce, and new ideas for engagement. This has paved the way for maximizing the social and intellectual potential of the workforce through strategic behavioural concepts and techniques. The creative synergy of capitalising on behavioural potentials helps a company thrive amidst several adversities and become resilient. Based on the urge to develop a new substantial way to maximise organisational resilience, the present study conceptualizes organisational resilience with cherishing. Theoretical implications and future research possibilities of the paper are discussed.
    Keywords: Organisational resilience, cherishing, personal resilience, workplace

  • Effect of economic growth initiatives on regional economies: A study in Indian context   Order a copy of this article
    by Vaibhav Tripathi, Ajai Singh, Ramendu Roy 
    Abstract: In the present context when India is preparing to witness huge economic expansion though numbers of development programs and initiatives, it becomes important to evaluate them on the basis of their usefulness, structure and evenness in development by analysing different studies in the same field, an attempt has been made to find suitable approaches required for economic development. Increase in regional disparity in the phase of economical development makes the central issue of the paper and the study have been done to find viable methods to minimise it.
    Keywords: economic development; entrepreneurial development; ‘Make in India’; Indian economic development initiatives.

  • Brand Sustainability and Brand Development: Critical Issues for the Micro, Small and Medium Enterprises in India   Order a copy of this article
    by Isita Lahiri, Monojit Banerjee 
    Abstract: Crossing the silver line of tranquility of static growth prevailed during pre-liberalization period Indian economy is now sailing with the turbulence and harsh wind of globalization where growth is the only alternative available to float. As the texture of Indian economy includes a wide variety in its pattern and components during post liberalization, an inclusive growth can only keep its mast straight facing all kinds of unpredictable wind. Here comes the criticality of roles played by the Micro, Small & Medium Enterprise (MSME) sector. Contributing 37.54 percent to the countrys GDP, the sector could win the recognition as the backbone of Indian Economy. MSME sector accounts for 45% of the total manufacturing output and 40% of the total exports of the country. Wide diversity in the range of output and involvement of people representing almost all sections of the country, made this sector a key driver of social and economic development. In spite of all these stated earlier, the MSME sector is vulnerable. Branding can become a strong shield for sustainability of MSME sector firms. This paper is an attempt to study two broad dimensions of MSME branding, namely, brand sustainability and brand development; and in addition to identify the parameters associated with them. The emerged factors relating to brand sustainability and brand development of the MSME sector in Indian context are fundamental to provide a new direction to the MSME sector firms of Indian origin on their journey of searching and paving sustainability.
    Keywords: MSME Sector; Brand Sustainability; Brand Development; Indian Economy; Entrepreneurship; SME.

Special Issue on: Migration and Diaspora Entrepreneurship Tackling the Heterogeneity

  • Entrepreneurship and economic integration of immigrants: a critical review of literature   Order a copy of this article
    by Jan Brzozowski 
    Abstract: This study provides a critical investigation of the research on immigrant entrepreneurship and economic integration of immigrants. Based on a sample of 44 articles, the paper shows the main theoretical concepts, methodological approaches and findings. The results of the literature review show surprising shortages in the studies on immigrant entrepreneurship as the immigrants self-employment status is usually perceived as a desired outcome of economic integration. Consequently, some important gaps in the knowledge on immigrant entrepreneurship are identified, and the most urgent directions for further studies are proposed.
    Keywords: entrepreneurship; immigrant; economic integration.
    DOI: 10.1504/IJEIM.2017.10009134

Special Issue on: ICMC 2016 Entrepreneurship and Innovation in the Multi-sector Network Economy

  • Sustainable Value Creation in the Commercialization of Innovation: The Case of Auria Biobank   Order a copy of this article
    by Hanna Lehtimäki, Ilpo Helén, Karoliina Snell, Päivi Eriksson, Tero Montonen 
    Abstract: The purpose of this study is to examine how different logics of commercialization are part of sustainable value creation in an emerging area of healthcare. This paper presents an inductive interpretative case study to examine the emerging field of personalized medicine from the perspective of a biobank seeking to create value on its depository of tissue samples, patient records, and digitized data. This study increases our understanding of the challenges and opportunities faced by a company when developing innovations in healthcare. It contributes to the literature on the commercialization of innovation by exploring how sustainable value creation in an emerging industry builds on both planned and emergent commercialization activities and how different logics of commercialization are a part of sustainable value creation in personalized medicine.
    Keywords: healthcare; innovation; commercialization; value creation; stakeholder; biobank; personalized medicine.

  • A Case Study of Exploring the Barriers of Pro-Environmental Behaviour   Order a copy of this article
    by Ville-Veikko Piispanen, Eeva Aromaa, Kaisa Henttonen 
    Abstract: The research focuses on the barriers of pro-environmental behaviour in a circular economy. More specifically, the aim is to study how an entrepreneur make sense of existing barriers when reflecting on the business. Previous studies on environmental awareness and behaviour have focused extensively on the individual and business level, yet barriers resulting from a circular economy have not been studied in small- and medium-sized businesses. In this single case study, the gap is explored by innovating a reflective circular economy diagnostics tool and interviewing one entrepreneur in an energy- and resource-intensive industry, which has many established and deep-rooted historical industrial practices. Content analysis and sensemaking practices have been used to analyse the data. The findings show that the barriers are mostly related to economics, and they can be structural, cultural, and contextual. The analysis also shows that pro-environmental concerns do not always lead to pro-environmental behaviour.
    Keywords: Barriers; behaviour; circular economy; entrepreneurship; environment; sustainability; sensemaking; case study; SME.

  • A Case Study on Accounting Facultys Perceptions of Technology in Accounting Classes   Order a copy of this article
    by Kristine Brands 
    Abstract: The accounting profession is undergoing a transformation because of the explosion of the amount of financial data and information available to organisations, the demand for real-time access to information, and the use of business analytics. The accountants of the future need to be qualified to address these challenges. This means that higher education accounting degree programmes must adapt their curriculums and courses to leverage technology tools and practices to ensure that their accounting faculties are prepared to teach these courses. The purpose of this exploratory descriptive case study was to evaluate accounting instructors perceptions and experiences with technology to identify best practices to develop their technological intelligence to enable them to implement technology into accounting programmes and courses to meet the demands that technology is placing on the accounting profession.
    Keywords: Accounting faculty; accounting courses; information technology; technology integration; accounting curriculums; technological intelligence; technological readiness; best practices.

  • Drivers and barriers to networked commercialization: A business model perspective   Order a copy of this article
    by Malla Mattila, Mika Yrjöla, Hanna Lehtimäki 
    Abstract: The purpose of this study is to adopt a business model lens to identify and analyze key drivers of and barriers to the networked commercialization of technology (NCT). The study contributes to commercialization literature by illustrating the usefulness of the business model lens for analyzing networked commercialization. The results of the empirical case study of a company developing disruptive nanotechnological solutions for mass production identify key drivers of and barriers to business model decisions in the NCT. The results show that the tasks and activities involved in the NCT and business model development are connected to others operating in the business network.
    Keywords: technology commercialization; network; business model; resource; value proposition; value creation; value capture; venture; qualitative case study.

  • The Importance of Being Known: Evaluating Companies for Growth-oriented Incubation   Order a copy of this article
    by Paivi Eriksson, Tero Montonen, Juha Vilhunen, Kalevi Voutilainen 
    Abstract: This article explores the early phases of the incubation process, in which small and medium-sized companies are evaluated for a project that aims to accelerate their growth. Guided by the justification theory approach, the objective was to analyse how different orders of worth (inspired, domestic, fame, civic, market, and industrial) guided evaluation, selection and justifications thereof in a face-to-face meeting between project staff and business experts. Findings indicate that justifications for the companies having most potential for incubation were informed by the domestic order of worth in particular, emphasizing evaluators common history, mutual familiarity and personal relationships with the people and teams of the prospective companies. Concerning the industrial order of worth, professionalism, efficiency and a limited number of internal growth factors related to people were addressed.
    Keywords: incubation; evaluation; selection; justification; SME; growth-orientation.

Special Issue on: Sustainable Entrepreneurship

  • Management style and innovation of females in gender-atypical businesses   Order a copy of this article
    by Luisa Carvalho, Ana Fernandes 
    Abstract: Research on female entrepreneurship has increased in recent years. Female entrepreneurship is understood as an additional opportunity to create jobs and contribute to economic growth. Female entrepreneurs play a plurality of roles in the family and professional environment. The goal of this research is to study the entrepreneurial profile and the management style of females in gender-atypical businesses. This is a contemporary topic but still with few empirical studies, particularly in Portugal when we observe it from the specific regional perspective of less developed regions, such as the interior of Portugal (region of Viseu). This study is based on a qualitative methodology, and presents 12 case studies of female entrepreneurship in SMEs from to a regional perspective. The main results suggest that women voluntarily create their own business and balance their private and professional life well. The managerial profiles seem to reveal no substantial differences between male and female entrepreneurs.
    Keywords: Case Study; Entrepreneurial profile; Gender; Women Entrepreneurship.

  • Work Integration Social Enterprises as symbols of sustainable entrepreneurship: Evidence from Spanish Case Studies   Order a copy of this article
    by Elisa Baraibar-Diez, Maria D. Odriozola, Emma Granel Prieto 
    Abstract: Work integration social enterprises (WISEs) are a type of social companies dedicated to help people at risk of social exclusion to join the ordinary labour market. The rise of people at risk of social exclusion after the European financial crisis has highlighted the role played by these companies and it is essential for their labour integration. Promoting work integration social enterprises increases social awareness and reinforces the transition from a disadvantaged group to working life. Koopera Santander (second hand clothing sale) and PLIS Servicios (ecological car washing) are two WISEs in the Spanish region of Cantabria that are also examples of sustainable entrepreneurship due to the activity they carry out (sustainability of resources), the objective to which they are committed (labour sustainability) and the saving of public resources (sustainability of public administration). Both WISEs have been created thanks to the entrepreneurial role of associations or cooperatives. Despite the support of these agents, both of them mention administrative barriers as the main obstacle to set up this type of social enterprise. The success of WISEs transforming socially dependent people into employed population is due to the more inclusive cultures and the deductions provided to private companies when hiring people who have passed through an itinerary of labour insertion.
    Keywords: Work integration social enterprises; WISE; Social inclusion companies; Social entrepreneurship; sustainable entrepreneurship.

  • CORPORATE RESPONSIBILITY IN THE FAST FASHION INDUSTRY How Media Pressure Affected Corporate Disclosure Following the Collapse of Rana Plaza   Order a copy of this article
    by Elise Auke, Ana Simaens 
    Abstract: The concept behind fast fashion is that of quickly-produced, low-priced, and short-lived fashion items and, for many, it constitutes the opposite of sustaina-bility. The collapse of the Rana Plaza garment factory in 2013 generated greater focus on corporate social responsibility (CSR) issues within the fast fashion in-dustry and raised important questions about whether the industry can be sus-tainable altogether. This research aims to explore the reasons for which compa-nies engage in CSR initiatives and whether global news media attention has an effect on companies CSR disclosure and initiatives. The study draws upon le-gitimacy theory and media agenda setting theory to explore the link between CSR disclosure and news coverage. The research shows that the CSR disclo-sures varied according to the companies CSR profiles, and that media cover-age differed according to the companies CSR initiatives and proactivity in re-lation to the collapse. This paper contributes to the literature by qualitatively exploring the relationship between media attention and corporate disclosure in the ready-made garment industry after a disaster.
    Keywords: Corporate disclosure; Corporate social responsibility; Media pressure; Rana Plaza.

  • The impact of institutions on SMEs innovation in Transition Economies   Order a copy of this article
    by Albulena Kadriu, Besnik Krasniqi, Cristina Boari 
    Abstract: This paper aims to investigate the institutional impact on innovation of firms across 30 transition countries in Central Asia and Eastern Europe. Building on the institutional theory literature, we hypothesize on the direct influence of formal and informal institutions on innovation, also taking into consideration the interaction effects between them, where the last play the role of moderator variable, and third, we examine the EU Membership as a control variable. The study uses structural equation modeling and data from Business Environment and Enterprise Performance Surveys (BEEPS) conducted by the World Bank/EBRD in 2012-2014 to understand the impact of institutional factors on the innovation of SMEs in transition countries. These results suggest that the perceived institutional obstacles are not an issue for the creation of innovation because bribery is used to overcome government ineffectiveness, bureaucracy and inflexible legislation that inhibits smooth economic activities.
    Keywords: SMEs; transition economies; formal and informal institutions; innovation.

    by Elva Ramos, Xavier Llinas-Audet, Jesús Barrena-Martínez 
    Abstract: The relevance of higher education institutions (HEI) for social development is unquestionable because of their potential for contributing intellectual solutions for the social, economic, and environmental welfare of society. The current study aims to: 1) examine which are the main catalysts of university social responsibility (USR) from a strategic management perspective; 2) show the relations among those catalysts through semantic networks; and 3) analyse the role of university promotion of entrepreneurship. The method uses a content analysis in a sample of 23 universities and examines the subject and codes to clarify the catalysts. The semantic networks are shown to reveal these connections. It was found that a high percentage of universities orient their efforts towards enhancing the employability of students, mainly through entrepreneurial projects intended to achieve social responsibility.
    Keywords: Strategic Management; Strategic Planning; Stakeholder Theory; Higher Education Institutes; University Social Responsibility; Sustainable Entrepreneurship; Students Employability; University Economic Management; University Cooperation; Qualitative Research; Deductive Method.