Forthcoming articles

 


International Journal of Entrepreneurial Venturing

 

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International Journal of Entrepreneurial Venturing (14 papers in press)

 

Regular Issues

 

  • Structural Equation Model of Variables Influencing Thai Ceramics Entrepreneur Organizational Sustainability   Order a copy of this article
    by Phainphin Kowuttiphong 
    Abstract: The ceramics industry is an industry that is vital to the economy of Thailand which globally, has been projected to reach $US705 billion by 2025. Traditionally however, for centuries the ceramics industry has been clustered in regional enclaves centered on small, entrepreneurial enterprises. This paper therefore investigated a multitude of factors including trade regulations, global competition, quality concerns, speed of development processes and production, and lack of branding and innovation, to determine both the direct and indirect factors affecting organizational sustainability of ceramic enterprises. From the 280 Thai enterprises surveyed and analysed by use of a structural equation model it was determined that organizational performance affects organizational sustainability to the greatest extent due to monetary and non-monetary factors with an intermediate input into innovation, the business environment and business strategies. Organizational performance is also influenced by innovation and business strategies.
    Keywords: AEC; ASEAN; business environment; business strategies; innovation; organizational performance; organizational sustainability; strategy.
    DOI: 10.1504/IJEV.2017.10008050
     
  • The Success of the Activist Investor Guy Wyser-Pratte in Continental Europe   Order a copy of this article
    by Alexander Bassen, Dirk Schiereck, Philipp Schüler 
    Abstract: This paper analyses the investments of U.S. activist investor Guy Wyser-Pratte in listed companies in Germany, France, Austria and Switzerland between the years 2001 and 2011. Wyser-Pratte is the best known single activist investor in Continental Europe whose investments have typically been followed intensively by the press. For the first time, this study examines the investment activities of a single activist investor with key focus on Continental Europe and complements the few existing studies on single activist investors and their focus on Anglo-Saxon jurisdictions. The results show that he approaches poor performing companies and that his investment activities increase the short- and long-term shareholder value. Key differentiator to existing research is the focus of Wyser-Pratte on improving the profitability of his target companies. This new insight can be interpreted as an indicator that value generation by shareholder activism works different in the institutional setting of Continental.
    Keywords: shareholder activism; investment; Wyser-Pratte; Continental Europe; poor performing companies; shareholder value; improving profitability; Europe.
    DOI: 10.1504/IJEV.2017.10008382
     
  • Empowering for Effectuation: Examining Organisational Preparedness for Corporate Entrepreneurship (OPCE) as Antecedent of Psychological Empowerment and Entrepreneurial Behaviour   Order a copy of this article
    by Sven Heidenreich 
    Abstract: Entrepreneurship literature acknowledges the applicability of effectuation and causation as entrepreneurial approaches to illuminate how corporate entrepreneurs develop ideas. However, it still lacks empirical evidence on how organisational factors, such as the organisational preparedness for corporate entrepreneurship (OPCE), influence the choice of entrepreneurial approaches. Within this respect psychological empowerment of individuals to solve tasks has been a major aspect of scientific discourse, as especially innovative and proactive behaviours are generally known to be impacted by the focal actors
    Keywords: entrepreneurship; corporate entrepreneurship; effectuation; causation; OPCE; psychological empowerment.
    DOI: 10.1504/IJEV.2017.10008387
     
  • The Accounting Performance of Listed Family Firms vs. Non-Family Firms: A Systematic Review of Empirical Studies   Order a copy of this article
    by Noora Rantanen 
    Abstract: During the past couple of decades, scholars have identified a group of exchange-listed firms that seem to differ from others when it comes to performance: dominantly family-owned firms. However, the factors explaining performance differentials between family-dominated and other listed firms are still quite unclear. In this study, we conduct a systematic review of the empirical research on the accounting performance of listed family firms vs. non-family firms in order to map existing knowledge on the subject. Our review shows that many of the explanations given to performance differentials are assumptions, hypotheses and speculation, while in-depth understanding is lacking mainly due to methodological deficiencies. With this study, we provide new research gaps and avenues for further research in order to encourage more discussion on the topic.
    Keywords: public company; listed firm; accounting performance; family firm; ownership; systematic review.
    DOI: 10.1504/IJEV.2018.10010156
     
  • Managing corporate-startup relationships: What matters for entrepreneurs?   Order a copy of this article
    by Franz Simon 
    Abstract: Startups have become an important part of corporations' external technology sourcing portfolio. Nonetheless, startups may be reluctant to enter in a relationship with a corporation. Prior research on corporate-startup relationships has primarily focused on the benefits for corporations and neglected the perspective of startups. In a multiple case study, we analyse the collaborations of 12 startups to 30 different corporations to address this gap. The findings show that complementary assets, risks as well as relational characteristics, influence the willingness of startups to enter such collaborations. We deduct nine propositions concerning, e.g., reputation and market access, misappropriation and the commitment of corporations. Further, our analysis highlights differences and similarities according to the maturity of startups. The study contributes to external technology sourcing literature and allows corporate managers to better understand the perspective of entrepreneurs in terms of engaging in strategic partnerships.
    Keywords: External technology sourcing; corporate entrepreneurship; startups; corporations; corporate-startup relationships; asymmetric partnerships.
    DOI: 10.1504/IJEV.2018.10012021
     
  • The dual effect of the age of the entrepreneur on the innovation performance of the micro-enterprises   Order a copy of this article
    by Cristina Lopez-Cozar-Navarro 
    Abstract: This paper aims to determine whether the traditional consideration by the scientific literature of the negative influence of the age of the micro-entrepreneur on the innovation performances of the business, can become positive when using information and communication technology (ICT) and developing strategies of corporate social responsibility (CSR) and diversification. The study was conducted using a sample of 148 micro Spanish companies. The results have been contrasted by two models, one without interactions to test the main effects of each of the variables under study; and a second model that includes interactions of the variable age with these moderator variables. The results show that the use of ICTs and the development of CSR activities by micro-entrepreneurs moderate the negative effect of the variable age over the innovation performance of the micro-enterprise. In contrast, the diversification decision enhances this negative effect.
    Keywords: age; entrepreneur; micro-enterprise; innovation performance; corporate social responsibility; diversification; information and communication technologies.
    DOI: 10.1504/IJEV.2018.10011163
     
  • Better safe than sorry? The effect of trust on venture capitalists   Order a copy of this article
    by Carolin Helmreich 
    Abstract: This study investigates the impact of trust among nations on the formation of multinational venture capital syndicates. The data set is based on ThomsonONE and comprises 859 realised triads among lead venture capitalists, their syndicate partners, and portfolio firms. We find that bilateral trust has a significant positive impact on the probability of cooperation in a syndicate. The magnitude of this relationship depends on the status of venture capital markets. The relevance of bilateral trust to the probability of cooperation increases for investments in large venture capital markets with high deal numbers. In line with previous findings on venture capitalists' constricted scrutiny in boom phases, we find that trust becomes less relevant for cooperation during upswings of deal activity in the target market. Consistent with research that finds access to capital as one major reason for syndication, recent capital abundance in the syndicate partner's market reduces the impact of bilateral trust on the probability of cooperation.
    Keywords: trust; venture capital; syndication; inter-firm alliances; relationship formation; partner selection; internationalisation; venture capital markets.
    DOI: 10.1504/IJEV.2018.10012028
     
  • Entrepreneurial orientation at university: a necessity?   Order a copy of this article
    by Sidrat Sidrat 
    Abstract: In this paper, we shed light on the entrepreneurial university in Tunisia. We carried out a quantitative study on 140 Tunisian university officials in order to explore and identify the factors enabling the Tunisian university to become entrepreneurial. Indeed, the practical study has led us to consider the entrepreneurial university as a step towards the evolution of the university. This does not mean that the university will abandon its traditional missions (teaching and research) but it will assume a new mission (entrepreneurship). Our results show that the entrepreneurial orientation at university (innovation, proactivity, autonomy, risk- taking, competitiveness and interdisciplinarity) has a positive impact on the creation and development of an entrepreneurial university. In addition, the hypothetical-inductive approach allowed us to superimpose the theoretical propositions resulting from the literature with the main results of the survey. This has allowed us to refine and enrich the conceptual model by adding a new variable such as interdisciplinarity. The proposed conceptual model can serve as a reference for further research aiming to study the entrepreneurial university.
    Keywords: Innovation – proactivity – autonomy – risk taking – competitiveness – interdisciplinarity.
    DOI: 10.1504/IJEV.2018.10012031
     
  • Acquisitions by family businesses in continental Europe and their differences compared to private equity investors   Order a copy of this article
    by Philipp Schüler, Mark Mietzner, Dirk Schiereck 
    Abstract: This study explores whether family business investors and private equity investors in continental Europe significantly differ from their investment approach and performance. Therefore, we analyse 126 acquisitions of listed Continental European firms by family business investors or private equity firms from the years 2002 to 2012. Although most of the performance differences between both investor groups are not statistically significant, the results fit with the existing evidence on shareholder activism of institutional investors like private equity funds and corporate raiders. However, there are some significant differences with respect to target firm characteristics. Consequently, we suggest to increasingly consider family business investors in the research on shareholder activism in Continental Europe.
    Keywords: minority stake acquisition; shareholder activism; family business; private equity; PE; corporate governance; agency conflicts; Europe.
    DOI: 10.1504/IJEV.2018.10012035
     
  • Environmental orientation among nascent and established entrepreneurs: An empirical analysis of differences and their causes   Order a copy of this article
    by Jacob Hörisch, Jana Kollat, Steven A. Brieger 
    Abstract: This paper investigates differences between nascent and established entrepreneurs with regard to their ventures
    Keywords: Environmental entrepreneurship; environmental orientation; Global Entrepreneurship Monitor; nascent entrepreneurship; established entrepreneurship; trade-offs; entrepreneur; sustainability; firm-age.

  • How does context influence entrepreneurship education outcomes? Empirical evidence from Bangladesh and Germany   Order a copy of this article
    by Petra Dickel, Linda Kleemann, Tarun Kanti Bose 
    Abstract: This study uses quasi-experimental data from 245 students in Bangladesh and Germany to explore the effect of entrepreneurship education on entrepreneurial attitudes (perceived desirability and perceived feasibility) and entrepreneurial intentions. The study specifically focuses on how context factors influence entrepreneurship education outcomes. Difference-in-differences analysis with propensity score matching is used to control for selection bias. The results show that the perceived entrepreneurship environment significantly affects the impact of entrepreneurship education and that the strength and direction of effects differ between the two countries. The implications of these results for entrepreneurship research, educators and policy makers are discussed accordingly.
    Keywords: entrepreneurship education; contingency approach; quasi-experimental design; self-selection bias.

  • Which factors determine the gender gap in the entrepreneurial action? Evidence from Mexico   Order a copy of this article
    by José Manuel Saiz-Álvarez, Lucía Rodríguez-Aceves 
    Abstract: The empirical evidence about how the gender gap influences on the entrepreneurial intention and its effects on the entrepreneurial action are still limited. The objective of this paper is to analyse the main factors to explain the entrepreneurial gender gap in Mexico related to entrepreneurial intention and entrepreneurial action and moderated by income, education, and marital status. Our findings show that, first, although women have a high entrepreneurial intention in Mexico, they are reluctant to create firms due to a high perceived behavioural control, so their entrepreneurship action is deficient. As a result, the Mexican labour market continues being very traditional with low rates of female participation Second, the entrepreneurial intention tends to decrease with income. Third, single men with completed graduate and/or postgraduate studies and high levels of income are more prone for entrepreneurship in Mexico.
    Keywords: gender gap; entrepreneurial action; entrepreneurial intention; GEM; Mexico; women entrepreneurship; education; marital status; income; perceived behavioural control.
    DOI: 10.1504/IJEV.2018.10014334
     
  • Understanding the financial decision-making of entrepreneurial firms: A conceptual framework of resource logics and effectuation   Order a copy of this article
    by Christopher Weigand 
    Abstract: This study investigates the financial resource logic that entrepreneurs apply in the early stages of firm development by using effectuation as a theoretical lens. Prior research has shown that entrepreneurs' financial decisions are not always rational and deviate from economic-rational predictions in several cases, thereby calling for a behavioural-oriented perspective. The present study proposes an effectual financial resource logic as a behavioural economic approach as opposed to a causal financial resource logic as a conventional economic approach. The theoretical dichotomy provides a more nuanced understanding of entrepreneurs' financial reasoning beyond what is known from traditional finance theories, thus helping to align entrepreneurial practice and theory. This study introduces a conceptual framework that departs from the narrow economic view on financial reasoning, offering an alternative rationale for an inverse financial preference order. Finally, it generates two key propositions for future research and provides a financial decision-making aid for entrepreneurs.
    Keywords: entrepreneurial finance; financial decision-making; new venture financing; financial resource logic; start-up financing; capital structure; pecking-order hypothesis; effectuation; entrepreneurship.

  • Understanding the financial decision-making of entrepreneurial firms: A conceptual framework of resource logics and effectuation
    by Christopher Weigand 
    Abstract: This study investigates the financial resource logic that entrepreneurs apply in the early stages of firm development by using effectuation as a theoretical lens. Prior research has shown that entrepreneurs' financial decisions are not always rational and deviate from economic-rational predictions in several cases, thereby calling for a behavioural-oriented perspective. The present study proposes an effectual financial resource logic as a behavioural economic approach as opposed to a causal financial resource logic as a conventional economic approach. The theoretical dichotomy provides a more nuanced understanding of entrepreneurs' financial reasoning beyond what is known from traditional finance theories, thus helping to align entrepreneurial practice and theory. This study introduces a conceptual framework that departs from the narrow economic view on financial reasoning, offering an alternative rationale for an inverse financial preference order. Finally, it generates two key propositions for future research and provides a financial decision-making aid for entrepreneurs.
    Keywords: entrepreneurial finance, financial decision-making, new venture financing, financial resource logic, start-up financing, capital structure, pecking-order hypothesis, effectuation, entrepreneurship