International Journal of Entrepreneurship and Small Business
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International Journal of Entrepreneurship and Small Business (194 papers in press)
by Kajsa Haag, Leona Achtenhagen
Abstract: In this paper, we outline how the divorce of the main owner-manager of a family-owned SME impacts the family business system. Divorce not only represents a pronounced family failure, but it can also be a highly stressful condition for the family members involved. To date, the impact of divorce on family businesses remains understudied, despite rates of divorce as high as 50% in some countries. Drawing on almost a decade of experience with engaged scholarship at the interface between divorce and family businesses, we selected four typical case studies to illustrate different coping strategies and show how divorce can change the strategic outlook of the family business system in SMEs by altering the commitment of the owner family to maintain the business in the family as well as ensuring the business continuation per se. Moreover, we exemplify how legal ownership regulations can shape family businesses strategic scope after divorce by impacting the financial situation. We integrate these findings into a model of family business system adaptation.
Keywords: family business; divorce; Sweden; engaged scholarship; crisis.
This article is being considered for Open Access
Abstract: Technology-based startups (TBSs) significantly contribute to the generation of jobs and economic development; therefore, the success of these companies should be guaranteed. However, despite their importance, TBSs have a high failure rate worldwide. The objective of this study is to identify CSFs for TBSs based on the analysis of the information systems theory, as well as theories on human, social, and organisational behaviour. This descriptive empirical study performed a simple correspondence analysis of the perceptions of 125 CEOs of TBSs located in Peru using student's t-test. The following effects were identified: technological surveillance → knowledge absorptive capacity, knowledge absorptive capacity → perceived performance of a product and/or service, knowledge absorptive capacity → dynamic capability, knowledge absorptive capacity → innovative and entrepreneurial culture, the perceived performance of a product and/or service → customer satisfaction, and the quality of a product and/or service → customer satisfaction. The results of the simple correspondence analysis showed that all identified relationships were valid using student's t-test at a 95% confidence level, with a high or very high effect, except for the impact of knowledge absorptive capacity on the innovative and entrepreneurial culture. This study identified ten CSFs for TBSs.
Keywords: technology-based startup; TBS; critical success factors; CSFs; IT startup; new technology-based firm; entrepreneurship.
APPLICATION OF FUZZY ANALYTIC HIERARCHY PROCESS IN MULTI-CRITERIA DECISION-MAKING OF VENTURE CAPITALISTS
by Monika Dhochak, Prince Doliya
Abstract: The purpose of this study is to investigate the venture capital investment process in an emerging market like India. In the venture capital industry, a decision to invest in a new venture has emerged as a proactive measure where certain factors are directly or indirectly involved in the investment process. This study aims to determine the factors of the venture capital investment process that may influence the multi-criteria investment process of venture capitalists. Firstly, we used the exploratory factor analysis to identify and analyse the consistency of several factors that may facilitate the adoption of multi-criteria decision-making (MCDM) techniques in an Indian venture capital industry. Secondly, fuzzy analytical hierarchal process (FAHP), a most suited technique for MCDM to handle the fuzziness, vagueness and multi-dimensionality, was adopted to assign the weights and prioritise the pre-defined criteria and sub-criteria. These findings indicate that venture capitalists investment decision does not emphasise solely on entrepreneurial activities, product and market; however economic and regulatory environment also plays a significant role in the venture capitalists investment decision-making process. The priority weight of the factors such as entrepreneurs characteristics, economic environment, product and financial constraints facilitates the relative importance of the pre-defined factors. Based on these criteria, entrepreneurs may recognise their strengths in respective criteria before approaching a right venture.
Keywords: Venture Capital; Investment decision-making; Multi-criteria decision-making (MCDM); Fuzzy analytical hierarchal process (FAHP).
Women in Family Businesses: Utilizing Assistance for Success
by Jim Cater, Marilyn Young, Pooja Krishnan
Abstract: As women in family firms experience challenges in leadership, we explore how sources of assistance and networking have been valuable to their success. Using a case study approach, we interviewed respondents from 18 US family firms in diverse industries. Respondents explained the importance of receiving assistance and guidance from both internal and external sources. We identified important types of needed information and external assistance sources. We generated four propositions from our study and noted the positive effect of close family ties and the negative effects of gender bias and family conflict.
Keywords: family business; family firm; women; gender bias; conflict; assistance; networking; leadership; case study approach; qualitative.
Impacts of Socio-Cultural Practices on Family Support System for Rural Women Entrepreneurship Development in Nigeria: A Comparative Analysis
by Catherine Akinbami
Abstract: This paper examined existing support system from family members and its effects on rural women entrepreneurial activities. It also assessed the effects of cultural practices on support received by the rural women entrepreneurs in Southwest and Southeast Nigeria. Concurrent mixed method, involving the use of quantitative and qualitative strands in a single phase was employed. Descriptive and thematic analyses were done through SPSS and Atlas ti respectively. Findings revealed that some forms of support system exist in both regions but the degree of access differs. Results also showed that socio-cultural practices have great influence on women entrepreneurship development. As a result, most women are unwilling to encourage their children to take over current business ventures. Consequently, husbands in particular, are encouraged to de-emphasise cultural norms which hinder business transformation into family businesses for sustainable entrepreneurship growth, sustainable rural family economic empowerment and poverty reduction. This research provides comparative baseline data for further study.
Keywords: Entrepreneurship Development; Support System; Sustainable Family Business; Rural Women; Socio-cultural Practices.
Strategic symbiotic arrangements: how can contract breweries help change a local market into part of an integrated broader market?
by Renato Chaves, Marcos Rego
Abstract: The impacts of the craft beer revolution reached Brazilian beer industry in the first years of this century. The evolution of the craft beer segment is paving the way to the development of different forms of organising in Brazil, such as contract brewing, designed for firms that do not own physical brewing facilities. This form of organising has several combinations, which vary according to the firms value proposition. Contract brewing may be a reflection of open strategy practices, which affect both organisational structures and ownership forms. This research on the contract brewing business model attempts to advance our understanding of strategic symbiotic arrangements in this particular industry. After examining how contract breweries are operating in practice, we were able to group the business models key components into two different configurations Symbiotic and Transitional, whose main challenges are closely related to their interdependencies with a production partner and their interorganisational strategy.
Keywords: Symbiotic network; symbiotic arrangement; interorganisational strategy; strategic alliance; business model; open strategy; contract breweries.
Female social entrepreneurship in Indonesia: A critical literature review
by Prameshwara Anggahegari, Gatot Yudoko, Bambang Rudito, Hendrati Dwi Mulyaningsih, Veland Ramadani
Abstract: This is a literature review paper related to female social entrepreneurship in Indonesia by using content analysis methodology. Based on papers related to female involvement in social entrepreneurship, there are some gaps within current literature that we tried to analyse. Most research in social entrepreneurship is considered as blurry areas where a female is categorized as the other' type of entrepreneur. This condition is also occurring in Indonesia. Even if females are described in the literature, most researchers focus more on the physiological and psychological differences between male and female. Females are rarely being highlighted as the subject of change. They were not seen as the change makers that have contributed more to the social values creation that emerged from their involvement in social entrepreneurship. The contested problems came from the Western point of view that has given some limitation to female empowerment in Indonesia. Therefore, we provide a new focus that emphasises the Eastern tradition to portrait how female involvement in social entrepreneurship may give more impact to the social value creation
Keywords: Social entrepreneurship; female empowerment; social value creation; Indonesia.
COMPLEMENTARY RELATIONSHIP BETWEEN TYPES OF INNOVATION IN SMEs: THE CONTEXT OF KOSOVO
by Lura Rexhepi Mahmutaj, Slavica Rocheska, Besnik Krasniqi
Abstract: Complementary innovations within Small and Medium-sized enterprises (SMEs) has been a subject of great interest among authors. This study aims to examine the complementary of different types of innovations with specific focus on SMEs in the Kosovo market. The empirical bases for this analysis are derived from 24 qualitative case studies from innovative SMEs in Kosovo, coming from service, manufacturing and trade sectors by using NVivo software. The majority of interviewed enterprises developed two innovations simultaneously, meaning that the introduction of one innovation led to the introduction of another one. Product and process innovations are complementary in most of the cases, and the firm prefers a simultaneous adoption. Nevertheless, the findings show that in few cases, there is a combination of other types of innovations.
Keywords: Complementarity; Innovation; Small and Medium Enterprises.
POSITION OF DAUGHTERS IN FAMILY BUSINESSES: THE ROLE OF MOTIVATION
by Anna Akhmedova, Rita Cavallotti
Abstract: This article addresses the underrepresentation of daughters in high-level management positions in a family business. The study takes a constructivist approach to explore the psychological link between daughters and family, illuminating the psychological processes behind a daughters acquisition of a high position in the family firm. A multiple case study method is used to analyse the patterns of motivation of three groups of daughters in family businesses. Findings suggest that there are important differences in terms of extrinsic, intrinsic and ethical motivation among daughters that occupy different positions. These differences affect the way daughters interact with their business environment and how they justify themselves as leaders and viable successors. Thus, this research points to the specific motivational mechanisms that underlie career outcomes of daughters in family businesses. Furthermore, the research indicates motivational synergies between intrinsic and ethical motivation that are important in the family business context.
Keywords: family business; succession; gender; motivation; next generation career; women career progress.
Intra-family SUCCESSION IN SOUTH AFRICAN TOWNSHIPS: WOMEN'S ACCOUNT OF THE DESIRABLE ATTRIBUTES
by Robertson Tengeh, Ziyanda Phikiso
Abstract: Although it is customary that family-owned businesses would want to ensure an effortless trans-generational succession, more often the transition efforts are not effective in circumstances where the incumbent does not know what to look for in a possible successor. Aim: focused on women, this article investigates the qualities and attributes that family-owned businesses desire in a potential successor. Methods: The study adopted a mixed research design that incorporated the use of quantitative and qualitative research methods. This paper is the outcome of quantitative data that was solicited and collected from 120 participants using a semi-structured questionnaire. From a qualitative perspective, the article benefited from the open-ended questions that were embedded in the questionnaire. The Statistical Package for Social Sciences (SPSS) software was utilised to analyse that quantitative data and was complemented with the elements that were drawn from the qualitative data. Results: The results suggest that the incumbents prefer the potential successor to have management skills; leadership skills; ability to relate well with other members of the family; show interest in becoming a successor, possess greater aptitude than other members of the family; understands the business vision, be trustworthy; be committed to the business; has management experience; must be related by blood or law and able to harmonise the interests of the family with those of the business. Value/contribution: reliant on women, this narrative highlights the womans position in a male-dominated discourse, besides suggesting that an understanding of the attributes desired by the incumbent will positively impact on the succession process in South African townships.
Keywords: Family-Owned Business; Succession Planning; successor attributes; South African townships.
Generational Differences in Self-Employment: Work Characteristics, Health, Work-Family, and Satisfaction
by Nicholas J. Beutell, Jeffrey W. Alstete, Joy A. Schneer, Marianne M. O'Hare
Abstract: This paper examines self-employment by generational cohort (Millennials, Generation X, Baby Boomers, and Matures) in relation to work variables, health variables, work-family variables, and life and job satisfaction. The analyses used data from a national probability sample (n = 738 self-employed), the National Study of the Changing Workforce. Significant differences were found between generational groups of self-employed for most of the major study variables (e.g., hours worked, job pressure, work-family conflict). We also found that the study variables (e.g., autonomy, turnover intentions) predicted job satisfaction in self-employment. Limitations, implications, and directions for future research are discussed.
Keywords: Entrepreneurship; job-demands resources; JD-R; self-employment; small business; SME; work-family.
Successor Attitudes in Family Firms
by SALMA FATTOUM
Abstract: The aim of this paper is to highlight the impact of the predecessors role on the successors attitude following his integration into the family business. We deploy a combined model that helps to elucidate the process (Le Breton-Miller, Miller and Steier (2004)) and a typology developed by Bauer (1993) that helps to characterize the actors. Four attitudes are distinguished: belated independence, unconstrained independence, forced conservatism and agreed conservatism.
Keywords: successor; predecessor; attitude; family business; succession role.
Internationalisation, risk-taking and export compliance: A comparative study between economically advanced and developing country
by Vahid Jafari Sadeghi
Abstract: The global economy involves enormous internationalisation activities that provide untapped opportunities for entrepreneurs and businesses. In a rapidly evolving economic environment, it is inevitable to adopt an integrated policy for presence in global markets. Although in recent years, the business environment has been characterised by the liberalisation of emerging nations and their increasing contribution to the global economy there are still some restrictive regulations that all international businesses need to comply with. In this regard, export compliance is defined as a multidisciplinary and specialised framework, which supports enterprises in compliance risk management. This research aims to explore the essence of this phenomena in the international business economy and investigate the consequence of the failure to comply with the international regulations as the potential risk that firms might face in their global activities. Similarly, this paper aims to explore the risk-taking practices of small ventures in Italy and Iran. Consequently, the methodology of this paper relies on the multiple case studies, in which the data were gathered through conducting interviews with the CEOs/s managers of small and medium-sized enterprises (SMEs) in Italy and Iran. The result of this study compares Italian versus Iranian businesses in regards to the concept of risk-taking and export compliance and introduces the context-based, universal and ineffective factors.
Keywords: internationalisation; export compliance; risk-taking; Case study; Iran.
Failure prediction models: Development and comparison between the multivariate discriminant analysis and the support vector machine for Tunisian companies
by Mraihi Fayçal
Abstract: In this study, we try to develop a model that would predict corporate default using a multivariate discriminant analysis (ADM) and a support vector machine (SVM). The two models are applied on the Tunisian context. Our sample consists of 212 companies operating in different industries, of which 106 are 'performing' companies and 106 are "failing" companies, observed over the 2005-2010 period. The results of the use of a battery of 87 ratios showed that 16 ratios can build the model and that liquidity and solvency have more weight than profitability and management in predicting distress. Despite the slight superiority of the results provided by the SVM model, on the control sample, the results provided by the two models are good either in terms of correct classification percentage or in terms of the stability of discriminating power over time and space.
Keywords: distressed firms; forecasting model; multivariate discriminant analysis; support vector machine.
Entrepreneurial burnout: a systematic review and research map
by Carolin Palmer, Sascha Kraus, Norbert Kailer, Linda Huber, Zeynep Hale Oner
Abstract: Entrepreneurial activity is gaining importance regarding its implications for societal, national, and regional development as well as economic growth. As a professional activity, entrepreneurship is defined by unique job characteristics particularly with regard to the experience of high passion, drive and spirit. Moreover, entrepreneurship is highly demanding in several domains and requires individual coping skills. In such context, the sustainability of entrepreneurial activities requires physical and mental health and well-being of entrepreneurs. Yet, burnout is a rarely discussed topic in entrepreneurial research. Hence, burnout of entrepreneurs has to be examined within the realities of their multidimensional professional context, which is shaped by nature of entrepreneurial activity, work characteristics as well as entrepreneurs personality. This literature review systematically examines and critically analysis 23 quantitative and qualitative articles about burnout in the context of entrepreneurship. Integrating the findings, we provide a research map for and thereby hope to stimulate further research to extend our knowledge about the challenging phenomenon of entrepreneurial burnout and its extensive consequences and implications.
Keywords: entrepreneurship; entrepreneurial; burnout; stress; psychology.
Evaluating the Systematic Risk and Its Impact on Profitability and Liquidity; Evidence from European Countries
by Omar Masood, Kiran Javaria
Abstract: The purpose of this research study is to establish if there is systematic risk and its impact on profitability, liquidity of the banks in Europe. This study used various financial performance ratios of 100 banks operating in different European countries to investigate if such relationship exists over five year period. Before working on evaluating the systematic risk we need to know that in order to shape up the financial structure of any firm, the operating performance is of crucial importance. It is expected that the outcomes of this research are of importance both to investors as well as bank managers, as these findings will help them in fully analyzing the effects of various strategic choices keeping in view related to risk profile of banks. Some implications of the potential policy which based on the new capital requirements in view of the risk-leverage relationship have also been discussed in this study.
Keywords: Financial Risk; Business Risk; Profitability; Liquidity; systematic risk; financial performance; capital requirements; risk-leverage.
The impact of access to finance and institutional barriers on SMEs performance: difference between the formal and informal sector
by Kujtim Zylfijaj, Dimitar Nikoloski
Abstract: This paper explores the impact of access to finance and institutional barriers on small and medium sized enterprises (SMEs) sales. For the purpose of this empirical study two samples were used for both formal and informal SMEs in Kosovo. The sample of formal SMEs consists of 1000 businesses, while the sample of informal SMEs consists of 250 businesses. The logit models were employed to find out the impact of access to finance and institutional barriers on SMEs performance in both sectors. Findings indicate that access to finance and institutions affect the performance of SMEs in the formal and informal sector. Although, findings show that access to finance and institutional barriers affect the performance of formal SMEs more than informal ones. The evidences show that formal SMEs outperform informal ones in terms of sales.
Keywords: SMEs; access to finance; institutional barriers; sales; performance; formal sector; informal sector.
Capital Structure Analysis of MSMEs with reference to Start-up and Later Stages
by Purva Hegde Desai, Nilesh Borde, Mitesh Nagar
Abstract: Micro, small and medium enterprises (MSMEs) worldwide differ on the parameters of definitions and the set of challenges faced. Although MSMEs continuously enhance the economic activity of a country, the difficulty in accessing finance slows down their growth and development. They find it more difficult to raise finance at an initial stage as compared to a later stage. Given this background, this research focuses on finding the impact of some selected factors like size and sector on the capital structure of MSMEs, in emerging economies like India. It affirms that regarding capital structure, MSMEs do not differ among themselves and can be regarded as common cohort or a single unit of analysis. The empirical testing provides evidence that capital structures of MSMEs differ across initial and later stage, with reference to sector and age classes.
Keywords: micro; small and medium enterprise; MSME; capital structure; debt equity ratio; size; sector; initial stage; later stage.
Who Earns more: Job Creators, Solo-Entrepreneurs or Employees? Empirical evidence from Visegrad Countries.
by Ondřej Dvouletý, David Anthony Procházka, Marzena Starnawska
Abstract: Entrepreneurship research in Central and Eastern Europe is still under-developed. One of the most important questions of individuals pursuing entrepreneurship as a career choice is, do entrepreneurs earn more, compared to employees? Is there a premium for undertaking the risks of self-employment? Our study aims to contribute to this research by comparing the earnings of employees, solo-self-employed and self-employed with employees (job creators). For this purpose, we utilise data from the two recent harmonised waves of the European Survey on Working Conditions (2010 and 2015). The analysis is focused on Visegrad countries (Czech Republic, Hungary, Poland and Slovakia) and is empirically based on the OLS approach and nearest neighbour matching approach. Controlling for some key individual characteristics, we find positive returns to entrepreneurship. However, we show that the OLS approach over-estimates the size of the returns to entrepreneurship and therefore we methodologically rely more on the matching approach. Based on the obtained matching estimates we show that self-employed without employees earn on average 6.7% more when compared to employees, and to self-employed with employees even on average 22% more than employees. Finally, once we compare solo-self-employed and entrepreneurs having employees, we find that job creators earn on average 22% more when compared with solo-self-employed.
Keywords: Income; Returns to Entrepreneurship; Self-employed with Employees; Solo-Self-employed; Employees; European Survey on Working Conditions (EWCS).
Success Factors of Academic Entrepreneurship Education: A New Approach
by Oliver Thomas, Torsten Wulf
Abstract: Discussions about whether entrepreneurship education stimulates entrepreneurial intentions and start-up activities continue due to weak empirical evidence and stagnating start-up rates. Based on the review of extant research in entrepreneurship, we argue that the success of entrepreneurship education largely depends on the contents and teaching methods applied. We propose that teaching the right contents and methods comprises three different factors: a rational component for teaching relevant knowledge and skills, an emotional component for evoking the inspiration of the participants, and a social component for supporting the development of the participants social networks. We present a number of practical, hands-on recommendations on these topics and develop a proposal for an ideal-typical entrepreneurship education curriculum. This paper is intended for university managers and program developers as a framework for designing successful entrepreneurship education programs.
Keywords: entrepreneurship education; inspiration; social networks; learning; entrepreneurial skills.
The relationship between entrepreneurship education and entrepreneurial intention: Evidence from a transition country
by Edmond Çera, Gentjan Çera, Engjell Skreli
Abstract: Finding ways that foster entrepreneurship is a constant concern for policymakers. Education is seen as a key factor that may contribute in this regard. This study seeks to assess the relationship between entrepreneurship education and entrepreneurial intention in the context of a transition country. Using a dataset of 528 respondents, two groups (treated and controlled) were created following a quasi-experimental research design. To ensure the comparability of these two groups, propensity score matching and coarsened exact matching were performed. The study found a positive relationship between entrepreneurship education and entrepreneurial intention, which is consistent with previous studies. This research provides useful insights for policymakers and universities who are responsible for designing policies or curricula to encourage students to engage in entrepreneurial activities.
Keywords: entrepreneurship education; entrepreneurial intention; propensity score matching; coarsened exact matching; transition country; Albania.
Bank leverage choices of French SMEs: A quantile analysis
by Ramzi Benkraiem, Calin Gurau, Thi Hong Van Hoang, Amine Lahiani, Thuy-Luu Seran
Abstract: With a large sample of 24,825 firm-year observations of French SMEs in the 2003-2016 period, we investigate the drivers of bank leverage choices. A quantile regression modeling is used to consider the bank leverage distribution. This method is applied on three different sub-periods to examine the impact of the financial crisis. The results reveal that drivers of the bank leverage level vary in function of its distribution and of time. This helps explain mixed results of previous research in this field. The pecking order theory is suitable to French SMEs while performance is the most important criterion considered by banks.
Keywords: SMEs; Bank leverage; Quantile regressions; Nonlinearity; Crisis.
Utilisation of information and communication technology among informal traders in Africa: A case of local economies in Nigeria
by Tochukwu Omenma, Ambrose N. Omeje
Abstract: Information and communication technology (ICT) is changing the face of business among the operators of formal and informal sectors. One school of thought argues that the informal economy is being dragged into the ICT-driven market system by multinational cooperation, while on the other hand, it is the convenience that has lured informal operators to the new market system. It is on this premise that this study investigated the extent of the utilisation of ICT among informal traders in Nigeria. The study applied a descriptive statistics method. We found that there is significant influence of mobile phones, online banking services and waybill systems on the business transactions of rural and semi-urban informal traders. The result indicates a positive correlation between the use of mobile phones and waybill services and the lower cost of business transactions by informal traders on one hand, and the higher profits on the other. The finding indicates that the majority of the informal traders do not rely on formal courier services because they deal in perishable goods that are not covered by insurance. The increasing utilisation of ICT infrastructure by the informal traders is linked to the introduction of global systems for mobile communication in 2003 and its penetration into the most rural communities in Nigeria. Though, ICT infrastructure has enhanced local economies in Nigeria, the availability of quality networks and coverages are limiting factors to the informal traders.
Keywords: information and communication technology; informal trade; entrepreneurship; local economy; Nigeria.
Predicting Entrepreneurial Intentions Among Postgraduate Students Using the Theory of Planned Behaviour: Jordan Case
by Mohammed Iqbal Al-Ajlouni
Abstract: The current study used the Theory of Planned Behaviour [TPB] to predict the intentions toward the entrepreneurship and identify insignificant antecedents for these intentions. The study targeted postgraduate students majoring in business and finance schools in the two top universities in Jordan. Through purposive sampling and completion of a self-administrated questionnaire, (308) respondents were included in the sample. Adopting a quantitative descriptive approach and Structural-Equation-Modelling with the use of Partial Least Squares, results reported that TPB predicted (41%) of variance in respondents intentions: attitudes toward behaviour and subjective norms were seen to be moderate-level significant antecedents, while perceived behavioural control was seen to be an insignificant antecedent; moreover, the entrepreneurship education programs significantly influenced the three antecedents. Following the results, implications and suggestions are discussed, directions for further research are suggested.
Keywords: Entrepreneurship; intentions; Theory-of-Planned-Behaviour; postgraduate students; entrepreneurship education programs; developing economies; Jordan.
GENDER AND EXPOSURE DIFFERENCES IN ENTREPRENEURIAL ATTITUDES OF INDIAN UNIVERSITY STUDENTS
by Dennis Barber III, Suhail M. Ghouse, Shanan Gibson, Michael Harris
Abstract: The process of entrepreneurship has undergone rapid changes in India. This includes a large IT segment driving the process and structural industry changes. The inclusion of women as entrepreneurs has generally been slow in India for several reasons. This study provides individual level data on the entrepreneurial attitudes of students in India and how gender and entrepreneurial exposure are related to these attitudes. Exposure was measured through previous work exposure, familial exposure or previous small business ownership. Entrepreneurial attitudes of 127 young adults at a university in India were measured with the Entrepreneurial Attitudes Orientation (EAO) survey instrument which is comprised of four subscales. The Indian males scored higher on all four subscales and the overall EAO score than their female counterparts. Of the three types of exposure only directly working with a small business in the past was associated with statistically significantly higher entrepreneurial attitudes.
Keywords: Entrepreneurial attitudes; Entrepreneurship; University Students; Gender; Exposure; India.
The Impact of Horizontal Revolution on Small and Medium size Enterprises (SMEs) Owned by Women: The Context of the UAE
by Samia Kargwell
Abstract: In the forthcoming few years, the UAE would expect to experience a growth in the number of female entrepreneurs. There is stable increase rate of women business owners according to Global Entrepreneurship Monitor (GEM). As Social Media has become an important marketing tool for Small and Medium Size Enterprises (SMEs) around the Globe. Social media platforms have substantial increase in sales and improving advertising feature. It has led businesses to create a new extension and give them the characteristics of being more accessible and user-friendly. Therefore, the utilization of this technique as a global tool bring the power needed for success to SMEs owners with extensive demand and usage of social media platforms among youth in the UAE. It creates horizontal communication with consumers and, then more opportunities to businesses in the country with the use of popular social media applications for example, Facebook, Twitter, you tube, Pinterest and LinkedIn as effective marketing tools. The significance of social media emerge as a result of its effect on marketing and advertising budget and costs which allow small and medium size enterprises (SMEs)to compete with the big businesses and the reach customers over the globe . Therefore, the way businesses communicate with customers has changed drastically and become horizontal communication with consumers. A self-completion questionnaires were distributed to 150 female entrepreneurs and sophisticated SPSS was use to analyze the data. The implications will be useful for decision makers to provide facilities to increase the number of women entrepreneurs to escalate their contribution to the economy of the UAE.
Keywords: Keywords: Social Media; Horizontal Revolution; Women; Entrepreneurship; UAE.
Discovering an Entrepreneurs Journey from Idea to Reality: A Phenomenological Study
by Ashish Badola, Rakesh K. Agrawal
Abstract: Entrepreneurship is one of the key elements in Indians economic and socio-economic growth. In an effort to discover a new dimension to the entrepreneurship process transforming an idea to reality, the study attempts to discover new dimensions of the entrepreneurship process. The study finds that non-availability of the level playing field, opportunity relationship and inadequate tapping of skill set plays a significant role during an entrepreneurial action. The final outcome is contingent to trust and mutual understanding within the entire process.
Keywords: Entrepreneurship; Indian context; Venture creation; Phenomenology.
Entrepreneurship Behaviour of African Minorities in the UK: Demystifying Cultural Influence
by Abdullah Opute, Abdullah Opute, Nnamdi Madichie, Nnamdi Madichie, Sirak Berhe Hagos, Sirak Berhe Hagos, Jafar Ojra, Jafar Ojra
Abstract: The purpose of this study is to illuminate the role of culture (and feed in factors) on entrepreneurial orientation using a case illustration of two African social communities in the United Kingdom (UK). The study uses a combination of in-depth and semi-structured interviews with 18 African (Nigerian and Eritrean) entrepreneurs in the UK, to understand their psychological mindset, critical cultural artefacts, and entrepreneurial orientation influence. While the criticality of the cultural influence is observed to be pronounced in both social groups, the extent of family influence, age-based generational differences, individualism/collectivism propensity, acculturation propensity and extended implication with regards to the utilisation of the various forms of capital (social, human and financial) and entrepreneurial performance, were found to be highly contingent upon the post-conventional culture artefacts. The limited focus on social groups explored, and the qualitative research design of the study are key limitations that could be interrogated further using quantitative research design protocols. The study may also be further developed by exploring additional culture artefacts beyond those conceptualised in this study, as these may influence entrepreneurial activity in other cultural enclaves.
Keywords: Ethnic Minority Businesses; Mixed-Embeddedness; Culture (and acculturation); Forms of Capital; Family influence; War History; Colonialism.
Survival in the agri-food industry: Internationalisation and manager gender in Spanish SMEs
by Pablo Rodríguez-Gutiérrez, M. Dolores Guerrero-Baena, Mercedes Luque-Vílchez
Abstract: An analysis is presented of the survival patterns of both small and medium-sized firms in Spain, as well as the effects of the internationalisation of the firm and manager gender on firm survival. The study aims to shed some light from a gender perspective on the field of SME internationalisation and SME performance, examining the role of manager gender as a key determinant of business survival. The data comprise a sample of 5,095 agri-food SMEs. The Kaplan-Meier method is employed for a univariate analysis of survival, applying a linear regression for multivariate analysis. The results revealed that the SMEs were more likely to survive if internationalised and/or if their managers were women. The findings of this research may help provide a better understanding of the influence of manager gender on the internationalisation process of SMEs, which would assist policymakers in developing relevant and targeted export promotion policies and programmes.
Keywords: Firm survival; internationalisation; gender; agri-food industry; Kaplan-Meier.
Risk(ing) Sophistication: Towards a Structural Equation Model for Risk Management in Small and Medium-Sized Enterprises
by Ilka Heinze, Thomas Henschel
Abstract: The purpose of this paper is to highlight critical success factors for establishing sound and effective risk management in small and medium-sized enterprises (SMEs). In particular, our research tests the effect of personal risk propensity and financial planning sophistication and its interaction with an enterprise risk management system. Based on data yielded by a survey among 270 SMEs, we apply a structural equation model (SEM) to identify the critical success factors for comprehensive risk management in SMEs. Our results show that personal risk propensity and sophistication of financial planning have a significant effect on the quality of risk management. SME managers with a higher risk propensity show a significant better risk management sophistication in terms of risk management organisation as well as in the risk management process. We also show that the formalization of the financial planning in SMEs is positively associated with risk management sophistication. The study also explores the link of risk management sophistication and business performance. Although to date structural equation modelling is rarely applied in SME research, our results clearly indicate the suitability of the method. The paper also offers a new theoretical research framework which can be used by other researchers to study the risk management sophistication of SMEs in a comprehensive manner. Finally, the study provides some support for SME policy advisers and consultants on how to evaluate SMEs risk management efforts and tailor risk management trainings to the SMEs particular needs.
Keywords: risk management; risk perception; performance; SMEs; structural equation modelling.
IMPACT OF MICROENTREPRENEURIAL ACTIVITY: A CASE OF INDIAN ECONOMY
by Debasish Joddar
Abstract: Development of sustainable microenterprises considered as ideal paradigm to uplift the rural masses by reducing their vulnerability calls for an in-depth evaluation of desired impacts of microenterprise development programmers. Based on the primary data in selected districts of West Bengal the study attempts to assess the socio-economic impact of the microenterprises on their household with reference to the standard of living and seeks to demonstrate the status of the women and children with respect to the use of basic health and educational services. Compared to others, the superiority of the sustainable enterprises has been explored in terms of higher standard of living index as well as the better-off situation of the women of their family with respect of use of antenatal care and institutional delivery. On the contrary the alarming drop-out rate of children in the family of unsustainable enterprises needs to be taken into consideration.rnrn
Keywords: Microfinance; Microenterprise; Entrepreneurial activity; Impact; Sustainability; Standard of living; Educational services; Drop-out; Child labour; Antenatal care; Institutional delivery.
How small enterprises manage unexpected customer requests in B2B sales
by Kai Hänninen, Matti Muhos, Harri Haapasalo
Abstract: This article analyses upstream supply chain practices in small enterprises to determine how firms manage unexpected customer requests in business-to-business (B2B) sales situations. A small companys offer often fails to satisfactorily meet a customers needs in B2B sales situations. In such situations an upstream supply chain network plays an important role in advancing B2B sales negotiations. The selection of a new supplier is crucial if the existing supplier network is not able to respond within an acceptable amount of time. In small firms, well-managed supplier networks can ensure fast delivery. Selecting a new supplier during sales negotiation could be risky; however, potential risks could be mitigated by having a core group of suppliers who can expeditiously fulfil requests.
Keywords: Small sized enterprises; Sales; Customer preferences; New product creation; Supply chain; B2B.
GEOGRAPHIC DIMENSION, INFORMATION ASYMMETRY, AND THE SUCCESS OF CROWDFUNDING CAMPAIGNS
by Nessrine Omrani, Adnane Maalaoui, Charles Perez, Gael Bertrand, Rony Germon
Abstract: In this paper, we study the relationship between geographic distance, asymmetric informationrnand the success of crowdfunding campaigns. For this purpose, we collect data from thernKickstarter crowdfunding platform from 2012 to 2013. The sample contains 9,146 projectsrnfinanced by more than 300,000 funders in 165 countries. An ordinary least squares (OLS) modelrnwas used. Results show a positive and significant relationship between information asymmetryrnitems and the success of the crowdfunding campaign. This relationship is negative between therngeographic distance of the funders and the campaigns success, meaning that the farther thernfunder is located from the project the less is the probability of the campaigns success. Resultsrnalso show that the number of funders, the duration of the project, and the economic sector arernlinked to crowdfunding campaign success.
Keywords: Crowdfunding; asymmetric information; geographic distance; OLS.
Determinants of Informal Entrepreneurship in Africa
by Amanze Ejiogu, Obiora Okechukwu, Chibuzo Ejiogu, Andrews Owusu, Ogechi Adeola
Abstract: This study investigates the determinants of informal entrepreneurship in Africa. Using a cross-section of 21,954 firms from 47 African countries, the study estimates several multivariate models to examine the factors that are associated with the decision of firms to register at the start of their operation and the length of time to remain unregistered. The findings show that entrepreneurship in the informal sector is complex and context-bound as contextual factors unique to Africa, such as, corruption, political instability, crime rate, infrastructure (electricity and transportation), access to land and finance, influence the entrepreneurs decision to register their firm at the start of its operation. The length of time firms remain unregistered is shown to be positively correlated to access to finance and infrastructural availability and negatively related to crime and political instability. These results vary based on the size of the business with larger businesses being impacted less by these variables.
Keywords: Africa; Informal Entrepreneurship; Socio-Cultural; Corruption; Crime.
Sustainable development of social entrepreneurship Evidence from Vietnam
by Dinh Ba Hung Anh, Le Doan Minh Duc, Nguyen Thi Hoang Yen, Nguyen Thanh Hung, Nguyen Hoang Tien
Abstract: This article delivers a full insight into interrelated concepts of social enterprise, social entrepreneurship and their sustainability issues. Despite different nature, determinant factors, motivation and purpose, as well as orientation towards sustain
Keywords: social entrepreneurship; social responsibility; social enterprise; sustainable development.
Portuguese textile association fostering the internationalisation of small and medium-sized enterprises
by Eric Costa, Antonio Lucas Soares, Jorge Pinho De Sousa, Maria Elo, Susana Costa e Silva
Abstract: The support and influence of industrial business associations (IBAs) for the internationalisation process of small and medium-sized enterprises (SMEs) is questioned. This qualitative case study on the textile industry in Portugal illustrates how SMEs are influenced by their IBA. Findings suggest that it has a preponderant role in supporting the international expansion of associated SMEs. Particularly, the promotion and organisation of trade fairs seem to foster first entries and continuous international expansion in the same way the IBA seems to influence their foreign market selection. However, SMEs feel that the IBAs work could still be improved by their facilitating more matchmaking processes, promoting collaborations, improving their seizing of available internationalisation opportunities, and providing more information about agents and distributors in foreign markets. Thus, we can say that, despite the Internet and global opportunities that firms can directly benefit from, the role of IBAs is still relevant for SMEs internationalisation, and there is still room for improvement.
Keywords: international business intermediaries; internationalisation; small and medium-sized enterprises; industrial business associations; internationalisation process; business networks; institutional networks.
Consideration Sets as Resources for Business Model Generation
by Eric Shaunn Mattingly, Garrett Allen McBrayer
Abstract: Business models as outcomes for entrepreneurship are increasing in prevalence in pedagogy and practice. Instructors and entrepreneurs are focusing efforts on iterating potential ideas through a process of trial and error in hopes to produce working business models. However, such practices need to be better underpinned by theory so we can develop an understanding of how to identify more valuable opportunity ideas and how to progress them towards working business models with fewer trials and errors. This conceptual paper focuses on integrating extant conceptualisations of business models as interdependent activities with research on identifying opportunities as problem-solution pairings. While integrating those literatures, the present framework also details how reliance on Constrained, Systematic Searchwith its resource based view underpinningscan help individuals with entrepreneurial aspirations identify more valuable opportunities and progress them faster and with fewer trials and errors into working business models.
Keywords: business model; recombination; entrepreneurship; systematic search; knowledge.
Micro and small business risk-taking behaviour: Does religion matter?
by Ibrahim Fatwa Wijaya, Bambang Setiaji, Linggar Ikhsan Nugroho
Abstract: This study aims to investigate the impact of Muslim entrepreneurs religiosity on risk-taking behaviour, i.e., choosing a high-risk vs. low-risk lending product in Islamic banking. The authors used probit regression to test the role of entrepreneurs religiosity in choosing mode of finance in Islamic banking. Data were collected using the questionnaire method; 249 respondents from the Central Java province, Indonesia, took part in this survey. The respondents are both micro and small enterprises. The findings reveal that the religiosity level of entrepreneurs has determinant effects on the risk-taking behaviour pattern, i.e., the more religious entrepreneurs prefer to have a less risky mode of finance.
Keywords: Religiosity; risk-taking; Islamic banks; SMEs.
Italian SMEs and IPO Performance. An empirical analysis over a 10-year period
by Maurizio Dallocchio, Emanuele Teti, Matteo Perugi
Abstract: We investigate the performance of shares issued by Italian small and medium enterprises (SMEs) between January 2007 and August 2017. The empirical evidence shows that stocks traded on the AIM Italia market the market of Borsa Italiana devoted to the SMEs with high growth potential significantly underperform compared to other similar listed companies over the same time span. The cause is related neither to the limited size of the companies small firms significantly outperform larger ones within the sample nor to the tendency to inflate the economic results in the fiscal year before the IPO, but our result is rather explained by the limited liquidity of most underperforming SMEs.
Keywords: small and medium enterprises; SMEs; AIM Italia; IPOs; performances; small cap.
Female entrepreneurship as rupture: becoming a female entrepreneur in Sweden in neoliberal times
by Gabriele Griffin, Anneli Häyrén
Abstract: Neoliberal economies have fostered entrepreneurship through the restructuring and reduction of public sector employment, an emphasis on individual agency, and on becoming entrepreneur as a processual project of self. Female entrepreneurship as a situated phenomenon takes particular forms in this context. Drawing on empirical research on female entrepreneurs in Sweden, we suggest that becoming entrepreneur for our interviewees involves agency as a reaction formation to five phenomena: organisational restructuring processes, work conflicts in previous employment, sickness, family issues, and a view of life as a differently worked and lived project than encapsulated in conventional employment. Entrepreneuring here becomes rupture but also engagement with new entrepreneurial support structures, in this instance an all-female co-working hub. We challenge certain core assumptions about entrepreneurship, in particular the notion of entrepreneurs as young and solely future- and goal-oriented.
Keywords: female entrepreneur; mid-life entrepreneur; reaction formation; neoliberalism; work life cycle; entrepreneuring as rupture.
Funding Innovative SMEs Operating in Traditional Sectors
by Ronen Harel, Dan Kaufmann
Abstract: This study is a continuation of Harel and Kaufmanns research, who investigated the funding difficulties of Innovative SMEs in Traditional Sectors (ISTS) from the supply side. The current study aim is to assess the ISTS funding market-failure argument, from the demand side as well.rnThe findings based on an analysis of case studies show similar reports of lack of funding access, despite the great diversity and variety of the companies in the sample, as manifested in their activities across an array of industrial sectors, their levels of innovation, their present lifecycle stages, and their broad size and age range.rnThe in-depth interviews contribute to an understanding of the market failure from the personal perspective of the company executives, provided a first-ever opportunity to obtain sensitive, seldom-revealed information and data, and afforded the opportunity to shed light from a different perspective on the difficulties ISTS face in obtaining financing for innovation. rn
Keywords: SME; funding; innovation; traditional sectors; market failure.
Digitalisation and Internationalisation of SMEs in Emerging Markets
by Yan-Yin Lee, Mohammad Falahat, Bik-Kai Sia
Abstract: Digitalisation is one of the drivers for emergence of early internationalising firms. However, only limited empirical studies outline the mechanism of how these firms can benefit from digitalisation. To fill this gap, we explore how digitalisation benefits early internationalising SMEs and the determinants of digital orientation through case interviews of 20 SMEs from low and high tech industries in Malaysia. Our findings reveal the entrepreneur, product, firm, technology and market characteristics that determine the digital orientations of firms in international market. Firms with the relevant characteristics of determinants could leverage digitalisation for early and rapid internationalisation. The paper also highlights six interesting topics worth further exploration in International Entrepreneurship research.
Keywords: born global firms; brand orientation; digitalisation; digital orientation; early internationalisation; rapid internationalisation.
Explaining Gender Differences in Entrepreneurship: The Impact of Motivations, Success Factors and Business Training on the Performance of Microenterprises in Central Vietnam
by Quan Vu Le, Mai Nguyen Lisovich
Abstract: The objective of this study is to analyze and explain gender differences in entrepreneurship in Vietnam by measuring the impacts of motivations, success factors, and business training program for entrepreneurs on the performance of their microenterprises. A questionnaire administered to 110 female and 110 male business owners in Vietnam in 2016, data was collected in the central region of the country with a very high ratio of female entrepreneurs. This study confirms that there are gender differences with respect to the entrepreneurial motivations, perceived success factors, and the types of business training received by the entrepreneurs. The study also reveals evidence that business training provided to male and female entrepreneurs has different impacts on the performance of microenterprises owned by them. As a result, a one size fits all approach to training entrepreneurs may not be appropriate since not all types of training programs lead to the improvements of the performance of microenterprises.
Keywords: Entrepreneurship; gender; motivations; success factors; business training; performance; microenterprises; Vietnam.
THE SOCIAL DIMENSION OF NECESSITY ENTREPRENEURSHIP
by TESSIER CHRISTEL, FAYOLLE ALAIN
Abstract: This paper aims to propose a new perspective on Necessity Entrepreneurship (NE). This phenomenon is indeed widely considered in the literature as having no or a negative impact on economic growth and is therefore mostly depreciated by scholars. We argue that NE allows to socially integrate deprived individuals and increase their psychological and human capital, if adequate structures and public policies are in place. We have opened a new venue, in considering for the first time NE in the perspective of a knowledge development process, calling for a differentiated approach. Although NE proves to play a limited impact on shrinking unemployment, fighting poverty and reducing discriminations, its social role as inclusive tool for deprived individuals has been underestimated: efficient entrepreneurial Knowledge Management, skills and competencies development in a constrained context can have a positive impact on individuals and societies.
Keywords: Necessity entrepreneurship; entrepreneurial competencies; social capital; human capital; social entrepreneurship.
Trust, distrust and psychological ownership in strategic entrepreneurship-based tensions
by Ville-Veikko Piispanen, Kaarlo Paloniemi, Antti Kauppinen
Abstract: Several studies have considered the chief executive officer (CEO) and that persons advantage-seeking (AS) and opportunity-seeking (OS) activities, including the CEOs trust and distrust of employees of large firms. Nevertheless, prior research does not offer an approach that assesses the potential link between those concepts in the context of small and medium-sized enterprises (SMEs). This paper aims to fill this gap by examining tension regarding CEOs experiences in the business development (BD) of SMEs from the perspectives of AS, OS, trust (T), distrust (D) and psychological ownership (PO). The basis for a new theory is built here by first coding a CEOs narratives and recoding the material to the existing literature through cross-validation. The results of this study highlight that a CEOs strategic entrepreneurship (SE) activities, trusting and distrusting beliefs in board members (BMs) and PO affect the tension CEOs experience between the board members on an SMEs business development.
Keywords: CEO; tension; trusting beliefs; distrusting beliefs; strategic entrepreneurship; opportunity-seeking; advantage-seeking; psychological ownership; balance; business development; narrative.
Exporting and indebtedness in Spanish firms from the expansion to the great recession
by Antonio García-Tabuenca, Fernando Crecente-Romero, Federico Pablo-Martí
Abstract: This paper discusses the link between financial constraints and the behaviour of exporting and nonexporting firms in the period 2003-2012, which includes expansion (2003-2007) and crisis (2008-2012). A sample of 27,000 Spanish firms is used, of which 15,000 are exporters. We studied whether easy access to credit in the period of economic expansion or the challenging financial conditions arising from the crisis affected the competitiveness and internationalization of these firms. We find evidence that during the expansion and bubble, the decision to export was not related to sources of financing. We also find that after the onset of the crisis, a firms level of indebtedness had a negative relationship with its probability of exporting.
Keywords: Exporting firms; Balance sheet recession; Spain; Indebtedness.
At the Heart of Things: The Impact of Life-Partners on Entrepreneurs' Psychological Capital
by Ben Bulmash
Abstract: Given the uncertainties and challenges faced by entrepreneurs, psychological capital is now considered a leading factor in entrepreneurial longevity and success. However, since psychological capital has traditionally been considered a dispositional attribute, little attention has been given to the external factors that influence it. Based on the idea that psychological capital is a state rather than a trait, this study sought to test the association between life-partners support and strain and entrepreneurs mental states of optimism, pessimism, and self-esteem, which are three key psychological capital components. The interaction between life-partner support and strain was also examined. Results suggest that while both life-partner support and strain are linked to entrepreneur psychological capital, low levels of support result in the least favourable mental states, suggesting a support-buffering effect. This study provides important implications for all who are involved in entrepreneurial activities.
Keywords: Entrepreneurship; psychological capital; optimism; pessimism; self-esteem; life-partner; spouse; spousal capital; social capital.
Exploring individual entrepreneurial orientation through education in emerging market conditions: The case of Malaysia and Thailand
by Vasilios Stouraitis, Mior Harun Mior Harris, Markos Kyritsis
Abstract: The motivators that guide university students individual entrepreneurial orientation towards new venture creation are an emerging theme. The novel settings of entrepreneurship education the developing country context of South East Asia (Malaysia and Thailand) are used, while comparing them to key assumptions on general business in Asia and the west. A total of 332 participants were recruited. The items were reduced to five components using principal component analysis, and, using binomial logistic regression, shown to predict some of the variance in perceptions on individual entrepreneurial orientation in Malaysia and Thailand. The study shows that individual entrepreneurial orientation motivators can be separated into the distinct dimensions of which innovation, proactiveness, risk taking, and culture correlate with the the decision to become an entrepreneur in Southeast Asia. In addition, assumptions on business and education in the west and in Asia hold partially in Southeast Asia and entrepreneurial new venture creation particularly regarding risk and autonomy.
Keywords: Emerging markets;education;entrepreneurship;motivations;orientation;Thailand;Malayisia.
The Impact of Mexican Culture on the Human Resource Management Practices of Mexican-American Family Firms
by Jim Cater, Kevin James, Roland Kidwell, Kerri Camp, Marilyn Young
Abstract: Mexican-American family firms comprise one of the fastest growing family business sub-groups in the U.S. Effective use of human resources is important for the profitability of family firms and their capability for growth. We interviewed Mexican-American family firm leaders from 20 companies to gauge the extent to which the cultural dimensions of their country of origin, Mexico, were influencing the operation of their family firms. We found evidence that these cultural dimensions continued to influence Mexican-American family firm leaders. We present propositions regarding how Mexican-American family firm leaders retain and/or reduce their cultural ties to Mexico and if their HRM practices differ from other U.S. family firms. We discuss which cultural dimensions may affect Mexican-American family firm HRM practices. Then, we present ideas for future research as well as implications for practice for Mexican-American family firms.
Keywords: Mexican; Mexican-American; family business; cultural dimensions theory; human resource practices; qualitative approach.
Dynamic Capabilities in Subsistence Small Businesses
by Carlos Fernandez-Jardon
Abstract: Small business, created as a means of subsistence of the entrepreneur and their family, are called subsistence small business. They need to grow to improve the situation of poverty, especially in developing countries. This paper analyses a mechanism, based in relationships and closeness, to grow in subsistence small businesses from dynamic capabilities. SSBs elaborate dynamic capabilities to grow. In particular, SSBs use the human capital management to improve customer management and product and territory management. These two capabilities improve innovativeness that generate growth.
Keywords: Dynamic capabilities; Subsistence; Small business; Growth; Latin America.
Financing social enterprise in the United Kingdom: Responding to new challenges in competitive markets
by Walter MsWaka, Olu Aluko, Safaa Hussein, Armindo Dos Santos De Sousa Teodósio, Huifen Cai
Abstract: Social entrepreneurship activities continue to make a significant contribution to the development of the United Kingdoms (UK) economy and remain at the core of the governments strategies for ameliorating socio-economic deprivation across the country. Despite the growth of this type of business activity, a key area that requires further analysis is how social enterprises respond to the funding challenges posed by globalisation, declining state support and increased demands for social welfare interventions. These challenges also come at a time when the UK government is encouraging communities to explore innovative ways of tackling socio-economic deprivation, through innovative and sustainable business practices. Drawing on a qualitative case study approach of social enterprises in South Yorkshire UK, this research contributes to extant literature by scrutinising the operations of social entrepreneurs in resource-constrained environments. By employing components of Kirzners (1973) theory of entrepreneurship, the findings of this investigation highlight how opportunity spotting and innovation in financing strategies have enabled social entrepreneurs in South Yorkshire to widen their organisations sources of financial resourcing. This study is of particular benefit to policy makers and researchers in social enterprise.
Keywords: Equity investments; Funding; Innovation; Legal structures; Social enterprise; Social entrepreneur; South Yorkshire.
Learning from the Omagongo Cultural Festival about Entrepreneurship and Self Employment in Namibia
by WILFRED ISAK APRIL
Abstract: Omagongo festival is one of the most entrepreneurial initiatives of the Namibian Owambo people. The primary symbol for this festival is the marula tree, celebrated as it is a key source of an alcoholic beverage; which normally takes place during the harvest seasons from February to May annually. In addition, the tree is also used for shade and the making of the onjove oil to name a few. There is much to learn about self-employment, small business and entrepreneurship. This unique festival is hosted by almost ten ethnic (10) groups/clans annually in Northern Namibia, of which some were armed forces in the liberation struggle of Namibia 29 years ago. Numerous fighters with a great zeal or entrepreneurship lost their lives; and the stories of their entrepreneurial initiatives are little known and almost never told in the academic literature. Since 2017, the communities joined forces to hold an annual cultural festival where the entrepreneurial legacy of the tribes is celebrated. The stories of the Oshiwambo people are not well documented. The authors of this paper joined forces with the community at the annual Omagongo festival of 2018 and captured twenty (20) stories from entrepreneurs and local community members. These stories will give an overview of how they build capacity and make entrepreneurship work for the people. It is envisaged that a true story from the people will teach the reader about enterprise and livelihood in an independent Namibia and beyond. In addition in depth interviews focus groups and participant observation were also used.
Keywords: Namibia; Ethnic group; Omagongo; entrepreneurship; small business; self-employment and informal markets.
Entrepreneurial orientation in the sharing economy: cases of new entries in domestic and international markets
by Heidi Coral Thornton, Susanne Sandberg
Abstract: Entrepreneurial orientation (EO) has attracted increasing research attention over the last decades, yet few studies apply all five dimensions in novel contexts and through qualitative studies. As a response, this paper explores six cases of new market entry by sharecoms, both internationalised and non-internationalised, in order to enhance knowledge about EO in an international sharing economy context. The findings show that the five dimensions of EO are demonstrated and utilised in diverse ways and to varying degrees, often through combination. Innovativeness, autonomy, and proactiveness are useful for bringing novel offerings to the market and EO is seen as an accelerator for growth and stimulator of early internationalisation. Still, not all of the dimensions were evident within all of the sharecoms nor were they deemed necessary in order to be entrepreneurial, which challenges previous research. The findings are shown to contribute to theory, as well as to practitioners.
Keywords: international entrepreneurship; entrepreneurial orientation; new market entry; international markets; sharing economy; sharecoms; qualitative case study.
Motives of Local People to (Not) Become Entrepreneurs? Evidence from Agats-Asmat, Indonesia
by Nia Kurniati Bachtiar
Abstract: People consider lack of education as the main constraint of entrepreneur percentages growth in Agats-Asmat, Papua, Indonesia specifically among local people. However, it is an incorrect understanding. This article will prove that systematic approach is insufficient to increase the Human Development Index (HDI) in Agats-Asmat, Papua, Indonesia especially in terms of the number of local entrepreneurs. This qualitative method article discovered that local culture, social capital, community context and unsustainable system are the major constraints to increase the entrepreneurial practice among local people. This study argued previous literatures which stated education is the most substantial aspect in increasing HDI. This article will also present the extended approaches in order to improve people
Keywords: Entrepreneurship; Agats-Asmat; women entrepreneurs; policy and program; government.
Capital Structure of UK SMEs: An Integrated Understanding
by Panikkos Poutziouris, Demetris Markou, Loukas Glyptis, Elias Hadjielias
Abstract: This study contributes with an integrated understanding of SME Capital Structure patterns at the nexus of internal (firm-specific) and external environment determinants. The hypotheses draw on POT, Agency Theory, and Business Cycle theories, and estimates are obtained from a data panel of 424 UK SMEs, over a 10-year period. Furthermore, the findings and discussion draw on both static and dynamic models of capital structure. The results between the static and the dynamic model are qualitatively similar, illustrating that firms change their capital structure over time, which is consistent with the POT and agency theory. In contrast to previous results on capital structure choices, the present study reveals that size relates to long-term debt borrowing only in the short-term, and SME growth is not positively linked with gearing ratios. The findings also offer evidence which support that macroeconomic conditions have a non-linear, convex relationship with the gearing ratios of the sample firms.
Keywords: SMEs; capital structures; SME financing; business cycle; firm-specific characteristics.
Barriers to Immigrant Mexican Entrepreneurs in the USA
by Elva Alicia Ramos-Escobar, Domingo García-Pérez-de-Lema, Luis Enrique Valdez-Juárez
Abstract: The purpose of this article is to analyse the barriers faced by immigrant Mexican entrepreneurs in the United States of America (USA) and their relationships with human capital, management capacity and performance. A structural equation model (SEM) was developed using the partial least squares regression (PLS) method with a sample of 166 Mexican immigrant entrepreneurs whose companies are operated in the city of Tucson, Arizona in the USA. The results of this research highlight the importance of human capital and management capacity as factors that help immigrant entrepreneurs improve the performance of their businesses and that help reduce barriers or obstacles that immigrants face when they develop their businesses. These results have important implications both for the public administration of the design of entrepreneurship policies for immigrant groups and for the immigrants themselves in favouring the survival of their businesses.
Keywords: immigrant entrepreneurship; human capital; management capacity; performance; barriers to entrepreneurship.
Graduate employability through entrepreneurship: A proposed model of lifelong learning of entrepreneurship education in Ghana.
by Remy Nyukorong
Abstract: The purpose of the current study is to propose a straightforward, real-world model of personal development and active citizenship that will enable the model to be easily explained as well as utilised as a framework when working with young people to improve their quality of life and self-sustainability, and to promote competitiveness and graduate employability. The model was created based on current research into employability concerns. The model sketches out what is meant by lifelong learning, in explicit and understandable terms, and suggests ways for interaction among the various aspects. However, the interfaces between the five stages of the model remain theoretical. The model will be a useful tool for teachers, guidance and counselling officers, curriculum development experts and any other practitioners engaged in entrepreneurship education activities. The model will be of value to any person with an interest in employability issues.
Keywords: entrepreneurship education; graduate employability; learning through life; learning for life.
Institutional Support and the Challenges Facing Youth Entrepreneurs in Developing Countries: A Guyana Case Study
by Donna Danns, George Danns
Abstract: Youth entrepreneurship is being promoted by policymakers in developing countries as a key strategy to combat high youth unemployment and reduce individual poverty. An amalgam of international, governmental and other groups has promulgated policies and programmes to lend support for this strategy. Yet, youth entrepreneurs face many challenges that can derail this strategy. Based on a review of research literature a youth entrepreneurship institutional support (YEIS) model is developed to enable identification and categorisation of the sources of support for youth entrepreneurs in developed and developing countries. This study investigated the challenges youth entrepreneurs from the developing country of Guyana face and a determination is made as to whether available institutional support mechanisms pinpointed in the YEIS model are helpful in overcoming such challenges. Data for this study were derived from a survey of youth entrepreneurs in the town of Linden, Guyana; agency interviews, and secondary sources.
Keywords: youth entrepreneurship; developing countries; Guyana; Caribbean youth; youth entrepreneurship challenges; youth entrepreneurship support; youth unemployment; international organisations; entrepreneurial education and training; youth entrepreneurship funding; micro-enterprise.
Entrepreneurship in Emerging Economies: Barriers to Entrepreneurship in the Muslim World
by R. Isil Yavuz
Abstract: Promoting entrepreneurship has become a major national priority throughout the worlds emerging economies. This is particularly true in the case of Muslim countries, many of which have lagged other parts of the world in new business formation, technological development, job creation, and quality of life. Even though these countries differ in their political and socio-economic conditions, most continue to struggle with a myriad of institutional, cultural and ideological challenges that discourage entrepreneurship. In this article, I analyse key institutional, cultural, and technological barriers to entrepreneurship in Muslim countries. My discussion contributes to the growing literature on international entrepreneurship in emerging economies.
Keywords: Emerging economies; entrepreneurship; new venture creation; entrepreneurial policy; Muslim world.
Internationalisation and Performance in Family Businesses: Influence of the Internationalisation Path Followed
by Oscar Javier Varas-Fuente, Raquel Arguedas-Sanz, Beatriz Rodrigo-Moya
Abstract: Although many family businesses have chosen to undertake internationalisation processes, little is known about how the internationalisation-performance relationship is affected by the internationalisation path followed. This research is based on the theory of resources and capabilities, the unique set of business resources (familiness) and the socioemotional wealth (SEW) perspective. Based on a set of panel data from the Spanish Survey on Business Strategies for small and medium-sized Spanish family businesses from 2005 to 2015, fixed-effect regressions were run on a sample of 285 businesses that followed the traditional path and 107 that followed the accelerated path, finding an inverted U-shaped curve for the traditional path and an inverted S-shaped curve for the accelerated path. Specifically, the accelerated path, not the traditional one, allows an increase in performance at higher levels of internationalisation.
Keywords: familiness; family businesses; internationalisation paths; internationalisation-performance relationship; resources and capabilities; SEW.
Exploring the relationship between entrepreneurial characteristics, entrepreneurship education and intention to be entrepreneur amongst Malaysian undergraduates
by Mohammad Mizanur Rahman, Mohani Abdul, Azmawani Abd Rahman, Mastora Yahya
Abstract: The aim of this research is to determine the relationship between entrepreneurial characteristics, entrepreneurship education and the intention to be entrepreneur amongst Malaysian undergraduates. In this study, 300 sets of questionnaires were distributed equally among undergraduate students from Universiti Malaya, Universiti Kebangsaan Malaysia and Universiti Putra Malaysia, representing the public universities (IPTA) and similarly another 300 sets of questionnaires were distributed equally among undergraduate students from Kolej Universiti Poly-Tech MARA, Kuala Lumpur, Universiti Tenaga Nasional, and Kolej Universiti Infrastruktur Kuala Lumpur representing the private universities (IPTS).In total, 486 completed questionnaires were processed and then analysed using the appropriate statistical tests. The findings of the study indicate that three dimensions of entrepreneur characteristics and entrepreneurial education are positively related to the intention to be entrepreneurs. This research provides useful in sights to the entrepreneurship education in Malaysia and it highlights the pertinent entrepreneurial characteristics that can be further developed in nurturing successful entrepreneurs.
Keywords: Entrepreneurial intentions; entrepreneurial characteristics; entrepreneurial education; need for achievement; innovativeness; locus of control; undergraduates; public university; IPTA; private university; IPTS; Malaysia.
The impact of internationalisation on product innovation in emerging market firms (EMFs)
by Mai Thi Thanh Thai, Ekaterina Turkina, Amon Simba
Abstract: This article is based on a dataset compiled by the World Bank. This publicly accessible dataset contains information about business management which was collected from 212 EMFs that were located in 10 different markets across Central, Eastern Europe and Asia. In order to measure the impact of internationalisation on product innovation in these EMFs, this article utilises the resource-based view (RBV). Through data analysis a consistent pattern showing the positive impact of the strategies adopted by internationalising EMFs to enhance their product innovations emerged. This uniform pattern was common in all EMFs. Most important, the trend showed that their product innovations were attributable to several factors that included; international physical resources, international marketing capabilities, managerial international experience, managerial perception of industry internationalisation, and international outsourcing. Thus, this article offers fine insights detailing the distinctive business manoeuvres internationalising EMFs initiate to drive product innovation. Insights from this research advance the resource-based perspective in a new way. Particularly, the new knowledge describes distinctive resource-seeking behaviours EMFs exhibit in emerging market thereby contributing to the literature on firm internationalisation and innovation.
Keywords: Innovation drivers; emerging markets’ firms (EMFs); firm characteristics; internationalisation; resource-based view of the firm.
Financial literacy, access to finance, SMEs performance and Islamic religiosity: Evidence from Saudi Arabia
by Raed Khamis Alharbi, Sofri Bin Yahya, Veland Ramadani
Abstract: This paper seeks to explore the impact of access to finance and financial literacy on the SMEs performance in an Islamic context. The study adopted a cross-sectional research design by employing 255 SMEs in Saudi Arabia. The findings showed a positive mediating effect of access to finance on the relationship between financial awareness, financial attitude and SMEs performance while access to finance does not mediate the nexus between financial knowledge and SMEs performance. Subsequently, the findings revealed that access to finance have positive effect on SMEs performance. This study also found that access to finance increases the positive relationship between financial literacy and SMEs performance. The role of religiosity was found to positively increase access to finance towards affecting SMEs performance. The findings of this study provide SMEs with the knowledge to increase their religious practices to access government Islamic funds i.e. Mudarabah and Musharakah while Islamic banking firms should increase their Islamic products and services to attract SMEs in Saudi Arabia.
Keywords: Financial literacy; access to finance; SMEs performance; Islamic religiosity.
Profitability and Poverty Status of Small Scale Entrepreneurs: The Garment Producers' Experience in Lagos State, Nigeria
by Olubukola Ehinmowo, Olayemi Simon - Oke
Abstract: The study assessed the profitability and poverty status of small scale garment producers in Lagos State Nigeria, using multistage sampling technique to select 180 respondents for the study. Method of data collection was through questionnaire and data were subjected to descriptive statistics, budgetary analysis, Foster-Greer Thorbecke (FGT) and regression analysis respectively. The findings showed that majority of the respondents (94%) were married .The study further revealed that total revenue and net profit accrued per annum were N601,234.00 and N59,514.00 respectively. The results of FGT showed that poverty incidence (Po), Poverty depth (P1) and Poverty severity (P2) for the poverty line of $1 and $1.25 USD per day were 0.114, 0.101, 0.077 and 0.444, 0.150, 0.116 respectively.. Results of the regression analysis revealed that the number of customers patronage, experience and household size had positive coefficients and significantly influenced the profitability of the garment makers in the study area. Policies gearing towards stable power supply should be initiated and implemented to enable the garment makers to increase their production level and profits.
Keywords: Profitability; Poverty; Small Scale; Entrepreneurs; Garment Producers; Lagos State; Nigeria.
Occupational health and safety in small businesses - A South African perspective
by Elriza Esterhuyzen, Dorothea Visser
Abstract: This article focuses on health and safety criteria for small businesses. The knowledge and attitude of small business managers in South Africa regarding occupational health and safety compliance were determined. Quantitative research generated descriptive data and measured respondents perceptions of knowledge and attitude regarding occupational health and safety compliance. The findings revealed awareness of occupational health and safety criteria. Respondents were conversant with the required knowledge to adhere to compliance regarding occupational health and safety; and their attitude confirmed their priority to occupational health and safety criteria. Researching the occupational health and safety compliance of small businesses is important for economic growth, as a lack of compliance results in financial and employee losses through occupational injuries and diseases. The findings have implications for government, policymakers, practitioners and management teams to consider occupational health and safety management systems and improvement plans. Such interventions are required to improve occupational health and safety compliance.
Keywords: Small business; occupational health and safety; compliance; knowledge; attitude; small business manager.
Factors driving Eco-preneurs in India: An Exploration
by Shilpa Sindhu, Anupama Panghal, Gaurav Aggarwal
Abstract: Ecopreneurial ventures are those entrepreneurial ventures which are usually driven by ecological responsiveness. This paper is exploratory research towards finding the factors which drive entrepreneurs towards ecopreneurship in India. Data for the study was collected through an online questionnaire, floated to entrepreneurs from the database of a national level entrepreneurship institute, in India. The data received from 116 respondents were analysed statistically by applying chi-square and factor analysis. The findings highlighted eight significant factors that may drive entrepreneurs for ecopreneurial ventures, the two leading amongst them are personal attitude and market forces. The findings also revealed a lack of awareness about the concept of ecopreneurship in India. The study paves the way for policy interventions and research inclusions in the field of ecopreneurship for enhancing the drivers to encourage ecopreneurship. Emphasis is required on bringing such policies in India, which can incline an individual towards ecopreneurship and make the business environment cordial for ecopreneurs.
Keywords: entrepreneurs; ecopreneurs; ecopreneurship; environment; factor analysis; India.
Leadership, Team Cohesion and Family Firms Performance
by Charbel Salloum, Hajer Jarrar, Catherine Mercier-Suissa, Jacques Digout, Tarek Azzi
Abstract: The purpose of this study is to determine the moderating effects of team cohesion and knowledge sharing on the performance of teams that utilise empowering leadership using a multiple regression analysis on a sample from three departments within 114 family firms in Lebanon. The results suggest that there is a significant relationship between empowering leadership and team cohesion and that knowledge sharing and team cohesion have an indirect influence on team performance. Our study provides important insights regarding team cohesion and knowledge sharing in empowering leadership practices in the Middle East. More importantly, our paper underlines how critical team performance is by highlighting the fact that a willingness to share skills, expertise and know-how benefits all team members and groups of a department or managerial structure. Group cohesiveness is crucial for a leader and for a firms management team and team performance.
Keywords: Empowering Leadership; Team Performance; Team Cohesion; Knowledge Sharing.
Understanding Small Business Entrepreneurial Activity in the Nigerian Bottom of the Pyramid (BoP) and Informal Economy
by Chijioke Dike Uba, Eghosa Igudia, Bamidele Wale-Oshinowo
Abstract: Despite significant and rapid evolution of the bottom of the pyramid (BoP) and the informal economy concepts, there is still a lack of clarity regarding the nature of BoP populations being studied and how activities in BoP markets intersect with those in the informal economy. The current study contributes to the literature in this area by exploring the nature of small business (SB) activity at the BoP, specifically, within the Nigerian informal economy context. The research employed the street-by-street survey and spatial random sampling methods to collect data from indigenous SB entrepreneurs in the Nigerian informal economy. Findings highlight the unique characteristics of BoP and non-BoP entrepreneurs and the key factors underpinning their motivations for engaging in specific economic activities in the informal economy. These are discussed in relation to the literature, theory and practice.
Keywords: bottom of the pyramid; BoP; informal economy; entrepreneurship; small business; BoP populations; Nigeria.
Advancing small family business studies: Beginning evidence of Psychological Capital for approaching creativity
by Dianne H.B. Welsh, Julia Vincent Ponroy, Thomas Niemand
Abstract: While scholars have widely investigated innovation in family firms, how creativity develops in family firms has been underexplored. Do family firms favour or hinder creativity, and how? To answer these questions, we need a measure of creativity. Since creativity on an organizational level is unavailable, we propose to apply a proxy in family firms: Psychological Capital (PsyCap) (Luthans and Youssef, 2004). Explorative findings from a highly creative family firm showed that Organizational PsyCap (OPC) can be reliably measured in family firms and are linked to trust and overall family firm member positivity. Implications for research and practice are discussed.
Keywords: Creativity; Family Firms; PsyCap; Positive Organizational Behaviour; Reward Systems; Employee Participation; Catering Industry; Hope; Efficacy; Resilience; Optimism.
Fifteen Years of International Journal of Entrepreneurship and Small Business : A Bibliometric Overview
by Satish Kumar, Riya Sureka
Abstract: The International Journal of Entrepreneurship and Small Business (IJESB) is a refereed journal publishing original peer reviewed articles. It completed its fifteen years of active publishing in the year 2018. The purpose of the study is to celebrate this event and provide a comprehensive overview of the IJESB articles with bibliometric analysis. Bibliometric analysis with graphical mapping of bibliographic data is carried to ascertain the publication pattern of IJESB between 2004 and 2018. Major findings suggests that the journal has a growing trend both in terms of publications and citations. France and the United States are the key contributors to the journal. Major themes covered by the journal comprise entrepreneurship,social capital, family business, small business, internationalisation and innovation.
Keywords: Entrepreneurship; Small business; SME; VOSviewer; bibliometric analyses; bibliographic coupling.
DONT RUN BEFORE YOU CAN WALK! THE IMPORTANCE OF FOSTERING THRESHOLD CAPABILITIES IN SECURING MARKET-LEVEL SURVIVAL
by James M. Crick
Abstract: The positive association between dynamic capabilities and sustainable competitive advantages has been well-studied throughout the extant literature. In contrast, relatively little is known about threshold capabilities, namely, the intangible assets that entrepreneurs utilise to survive within their markets. As such, the contribution of this conceptual paper is to integrate threshold capabilities into the dynamic capabilities sub-set of resource-based theory. This is achieved via reviewing the existing literature pertaining to threshold capabilities and their performance outcomes, as well as the types of entrepreneurs that are most likely to be interested in fostering such intangible assets. Additionally, illustrations of threshold capabilities are described to differentiate them from dynamic capabilities and other intangible assets. These conceptualisations are important, since they shed light on vital organisational capabilities that have been largely overlooked by other scholars. This article ends with some directions for future research.
Keywords: threshold capabilities; dynamic capabilities; resource-based theory; dynamic managerial capabilities; market-level survival; sustainable competitive advantages; lifestyle-oriented entrepreneurs; growth-oriented entrepreneurs; small businesses; entrepreneurial objectives.
Entrepreneurs as change agents in remote communities: a multi-case study analysis in Newfoundland and Labrador, Canada
by Jacqueline Walsh, Heather Hall
Abstract: Over the last decade, small communities and local economic development have become a focal point of research on entrepreneurship. The contributions of individuals have not gone unnoticed in the creation of economic opportunities through building entrepreneurial communities. Based on two case studies from remote communities in Newfoundland and Labrador, Canada, we find that successful entrepreneurs living in small communities can have a special dynamic in their communities and may be responsible for change in various ways and under a variety of contexts. Change may be economic, social, institutional, political, environmental and/or any other nature of transformation that is required to ensure the community in which they chose to live is sustainable and offers a viable standard of living for its residents. We argue that the distinction between social and business entrepreneurs is less pronounced in small communities in isolated regions and that solving social issues necessitates a focus on economic revitalization.
Keywords: Entrepreneur; change agent; remote; rural; entrepreneurial communities; commitment to place; unlocking local; social and business entrepreneurs; local and global networks; disturbing the present.
Survey of the Junior Enterprises Movement in Brazil: entrepreneurship and innovation in undergraduate courses of higher education institutions
by Georgia Arla C. Khader, Mariana G. Cademartori, Rafael Lund
Abstract: Junior enterprises (JEs) are non-profit companies with educational goals run entirely by university students. The current study aims to analyse the panorama and profile of companies linked to the state federations of JEs in Brazil. The companies characteristics were evaluated by a cross-sectional survey with secondary data and structured interview forms that assessed 564 JEs. Data were analysed using Chi-square and Fishers exact tests through the Stata 14.0 program (p > 0.005). The results showed that 92% of JEs come from public institutions, 74% are part of an association to support JEs and 68% of companies consist of one course, with 55% of these from the area of exact sciences. Our findings indicate that the majority of JEs in Brazil are from public universities and are more assisted by support sectors compared to companies from private universities. In addition, there was a predominance of companies in the area of exact sciences concentrated in southern and south-eastern Brazil.
Keywords: entrepreneurship; small business; management development; junior enterprises; entrepreneurial education; young entrepreneurs; entrepreneurial culture; university entrepreneurship; Junior Enterprises Movement; internship.
Strategic Pathways to ICT adoption in SMEs: Evidence from Greece
by Ioannis Giotopoulos, Alexandra Kontolaimou, Efthymia Korra, Aggelos Tsakanikas
Abstract: This paper explores the impact of different strategic practices on firms ICT adoption. Drawing on push-pull theories it is argued that business strategies which are strongly linked to the market and/or customer needs are most likely to pull the adoption of ICT. Strategies that mainly confine their scope to the characteristics of the products, implying a more loose connection with the market, are expected to push the ICT adoption process. The empirical analysis based on a large-scale survey on 3500 Greek SMEs confirms the significance of market-based strategies for ICT adoption. The ordered probit estimations show that market driven strategies (marketing differentiation and market diversification) increase the likelihood of adopting ICT in SMEs while generic competitive strategies (low cost position and product differentiation) do not play any significant role in the adoption of new technologies in most cases. The results appear to be largely robust across different ICT adoption measures.
Keywords: ICT Adoption; SMEs; Generic Strategies; Market Driven Strategies.
Crowdfunding in Italy An Exploration of Chances and Challenges for Women Entrepreneurs
by Stefanie Pakura, Federica Maria Raiti, Verena Meyer
Abstract: Crowdfunding is supposed to democratise the entrepreneurship funding process, as it provides access for women entrepreneurs and investors to participate. In Italy, the barriers for the participation of women in entrepreneurship, especially with regard to funding, are particularly high. In this challenging context, crowdfunding is a promising alternative, which we explore with a context-specific study from a cultural gendering perspective. Findings reveal that the interviewed crowdfunding experts and women entrepreneurs believe that, in crowdfunding, only the idea and personal commitment count, while gender does not. Interestingly, results illustrate several barriers for women entrepreneurs in practice. Overall, crowdfunding structures in Italy currently reveal gender-based barriers, but have the potential to create a more open space of entrepreneurship in the future. While crowdfunding might not be the allegedly gender-neutral environment that it is often illustrated as, it might open up the path for more women-led businesses to succeed in acquiring financial resources.
Keywords: crowdfunding; reward-based crowdfunding; equity-based crowdfunding; entrepreneurial finance; women entrepreneurs; gender; Italy; culture; qualitative study; cultural gendering.
Moral Disengagement among Social Entrepreneurs: Initial Insights from Indonesia
by Ari Margiono, Pantri Heriyati
Abstract: Moral disengagement a concept that is closely related to the unethical behaviour of individuals has started to gain significance in management studies. However, there has been limited research on moral disengagement in entrepreneurship, especially in the social entrepreneurship domain where people tend to assume that social entrepreneurs are inherently ethical individuals. Despite its importance, there is even less social entrepreneurship ethics research in the literature that specifically investigates moral disengagement in the context of developing countries. Using a qualitative method and a critical incident technique, this research investigated moral disengagement among social entrepreneurs in a developing country, Indonesia, in three different periods: during the start-up phase, when they have received revenue, and in the last three months. Our study reveals two important findings. First, in contrast to extant literature that focuses on individual-level attributes, we found that contextual factors drive social entrepreneurs to engage in moral disengagement activities at most stages of venture creation. Second, social entrepreneurs in our sample seem to practice moral disengagement to cope with perceived losses arising from contextual uncertainties. These findings imply the importance of an effective social entrepreneurship ecosystem in Indonesia.
Keywords: critical incident technique; moral disengagement; prosocial; social entrepreneurs; social entrepreneurship.
Young students and desire to social entrepreneurship: The impact of governments role
by Arun Sukumar, Vahid Jafari Sadeghi, Zimu Xu, Richard Tomlins
Abstract: The main aim of the research was intended in assessing the role of the Indonesian government towards the promotion of social entrepreneurship in the country. The research was focused on addressing the level of awareness about the concept of social enterprise and what it means in Indonesia, especially among young students. For achieving this aim, a survey was conducted among students in Jakarta, Indonesia. The survey reflected the assessment of government role in the promotion of social entrepreneurship in Indonesia. The results noted that when it came to social entrepreneurship, it is the government that acts as a vital role in communication what a social enterprise is and its role to the members of the society. From the regression analysis, it was identified that there is a significant relationship between the promotion of social entrepreneurship and the role of the Indonesian government. However, the study also identifies that while the promotion of social enterprise is essential, the role of innovation and its link to the building resilient social enterprises needs more attention.
Keywords: Social Entrepreneurship; Government Support; Young People; Social Enterprise; ANOVA.
Entrepreneurial intentions Amongst University Students in Pakistan: A Comparison between Students of Islamic and Conventional Business Studies
by Syed Alamdar Ali Shah, Raditya Sukmana, Muhammad Ali Ahmad, Muhammad Saud
Abstract: Objective of this research is to examine intentions of entrepreneurship amongst students of Islamic and non-Islamic business studies in Pakistan. Data of 344 respondents from HEC recognized universities in the province of Punjab has been collected and analyzed using Cramers V test to analyse various associations. Results suggest that students pursuing non-Islamic business studies and Islamic Studies are more inclined to initiate their businesses after studies as compared to students who have studied Islamic business as a subject or have pursued Islamic business studies as a whole. Students of Islamic business studies have very low inclination towards starting their own business. This research puts forward a new area of research to find dynamics of differences in entrepreneurial intentions between Islamic and non-Islamic graduates.
Keywords: Entrepreneurship; entrepreneurial intentions; Islamic Business Students; Non Islamic Business Students.
ENTREPRENEURIAL INTENTION AND GENDER: AN ANALYSIS OF ENVIRONMENTAL FACTORS
by Ximena Morales-Urrutia, Diana Morales-Urrutia, Luis Simbaña-Taipe
Abstract: The aim of this paper is to analyse the entrepreneurial intention of women and some environmental factors in order to identify their main explanatory causes. The theoretical foundation approach guides to an analysis based on different theories such as: Ajzens theory of planned behaviour (TPB), social role theory, social cognitive theory (SCT), which provide a solid reference framework for this study. According to this scheme, the research focuses on the role of the leading environmental factors for female entrepreneurial intention. On the other hand, the empirical approach covers 18 countries from Europe and the USA during 2006 to 2015; additionally, its main statistical source is the Global Entrepreneurship Monitor (GEM). The results specify that both, necessity entrepreneurship and skills and knowledge, represent fundamental aspects for this entrepreneurial intention. Therefore, each government should lead policies, regulations and incentives aligned to social and cultural needs of each country.
Keywords: female entrepreneurship; entrepreneurship gender gap; environmental business factors.
More than a financial alternative: Discovering equity crowdfunding as a tool for entrepreneurial ventures to acquire loyal customers
by Carina Hoffmann, Alexandra Moritz, Peter Kenning
Abstract: Gaining new and loyal customers is a major challenge for all companies, particularly for entrepreneurial ventures. To address this challenge, we investigate the potential of transforming investors into customers in the equity crowdfunding context. In particular, we aim to understand under what circumstances crowd-investors transform into customers and whether these customers have the potential to remain loyal to the venture. Based on a survey of crowd-investors of a German equity crowdfunding platform, we show crowd-investors potential as loyal customers and find that their trust and affective commitment towards a funded venture are the main drivers in their transformation into loyal customers. Furthermore, we find that trust and affective commitment intervene the positive effects of identity-driven precursors. Our findings highlight that equity crowdfunding has the potential to address two major challenges entrepreneurial ventures are faced with: finding investors and gaining loyal customers.
Keywords: Equity crowdfunding; crowd-investor behaviour; customer acquisition; customer loyalty; commitment-trust theory; entrepreneurial ventures; investomer; structural equation modelling; social identity.
THE INFLUENCE OF FAMILY COMMITMENT ON THE SOCIOEMOTIONAL WEALTH AGENDA OF SPANISH FAMILY FIRMS: THE EFFECTS ON PERFORMANCE
by M. Katiuska Cabrera-Suárez, Josefa D. Martín Santana
Abstract: The socioemotional wealth (SEW) is recognized as a relevant approach to analyze the idiosyncratic nature of family firms (FFs). However, scholars have suggested that SEW may have both a bright and a dark side in relation to its influence on FFs behavior and performance and that family influence may play a key role in this issue. We analyze the effect of family commitment on the orientation to an extended or a restricted SEW agenda and on the economic performance of the FF. The analysis of data from 374 family and non-family managers in 173 Spanish non-listed FFs shows that both an extended and restricted SEW agendas derive from family commitment, but only the goals related to an extended SEW lead to better performance. A multigroup analysis shows that the positive performance effects of the extended SEW agenda can only be obtained when family managers are a majority in the top management teams (TMTs).
Keywords: extended versus restricted SEW; family commitment; family firm; performance; family and non-family managers.
Growth perception amongst women entrepreneurs: An emerging economy perspective
by Oyedele Ogundana, Kostas Galanakis, Amon Simba, Lynn Oxborrow
Abstract: Consistent with studies that focus on business growth amongst female and male entrepreneurs, this study examines the way women entrepreneurs in Lagos-State, Nigeria, perceive business growth. It utilises Nvivo for coding transcribed data obtained through face-to-face interviews that involved 35 women entrepreneurs in Lagos-State. From an in-depth analysis of their conceptualisation of business growth, the study develops comprehensive insights into the way growth is perceived in women-owned enterprises in Lagos-State. It reveals that women entrepreneurs involved in the day-to-day operations of small garment-producing enterprises associate growth with a percentage change in their clientele however small. More importantly, they accept that their descriptors of growth derive from the interrelation between their social environment, individual thought and behaviour. Thus, this study contributes to the literature on gender and entrepreneurship by illustrating context-specific parameters that shape the way women entrepreneurs in a developing country conceptualise business growth.
Keywords: Women-owned businesses; business growth; garment manufacturing industry; Lagos Nigeria.
Mini-companies and school performance in four European countries
by Vegard Johansen
Abstract: Mini-companies combine practical and theoretical learning, and the Company Programme (CP) was the most participated mini-company scheme in Europe. This article assessed whether participation in CP influenced school performance in secondary schools in Belgium, Finland, Italy and Latvia. The study compared students with high CP activity (100 hours or more), low CP activity (25-99 hours), and no CP activity. The investigation used a pre-test post-test design, and it found that students with high CP activity had a higher Grade Point Average (GPA) than non-participants. Thus, the CP seemed to be a well-adapted working method for the improvement of learning in various subject areas. However, the correlation between CP and GPA differed among the countries. 2,789 students in twenty secondary schools (16-19 years of age) participated in the study. Multivariate analyses were used to control for competing factors relevant to GPA.
Keywords: Entrepreneurship education; mini companies; the Company Programme; school performance; grade point average; Europe; secondary schools; students; Belgium; Finland; Italy; Latvia.
Factors Discouraging the Growth of Women Entrepreneurship in Bangladesh
by Md. Rakibul Hafiz Khan Rakib
Abstract: Inclusion and active partaking of women in entrepreneurial activities becomes imperative for ensuring national growth through empowering themselves. But engaging our tradition bound, reserved, and homely women in economic and productive activities is always a challenging task. Besides, a diverse type of factors also discourages them in starting and running their own business enterprise. This study intends to identify those factors and analyzing the effects of some selected factors that discourage women entrepreneurship in Bangladesh. A mixed method approach- qualitative approach followed by quantitative approach- was used to carry out the study by distributing self administered questionnaires among 200 women entrepreneurs selected conveniently from Rangpur division of Bangladesh. ANOVA and multiple regressions were performed with the help of SPSS version 21.0 to analyze the data and test the proposed hypothesis. Findings of the study reveal that social and cultural obstacles, family obligations, dual responsibilities, hostile administrative environment and policy, and uneven inheritance rights discourage the growth of women entrepreneurship business in Bangladesh. The study findings also theoretically enrich existing literatures on women entrepreneurship by providing some guidelines for academicians, researchers and policymakers. Furthermore, this paper includes discussions on the practical implications of the findings with the scope of future research.
Keywords: Women entrepreneurship; social and cultural obstacles; family obligations; dual responsibilities; hostile administrative environment and policy; unequal religious and inheritance laws; multiple regressions; Bangladesh.
Problems of Entrepreneurs in India Case of RSETIs (Rural Self Employment Training Institute) Trainees
by Pawan Kumar, Ritu Kumra
Abstract: Entrepreneurial Training and education plays a significant role in giving the major push to the economic growth of a particular country. An economy which have rich productive resources cannot grow without efficient energetic entrepreneurs. This paper examines the main challenges of trainees before or after starting their business ventures after completing their entrepreneurial training. The study is descriptive as it includes survey of 603 trainees who have taken entrepreneurial training from Rural Self Employment Institutes (RSETIs). Data was collected using questionnaire .Respondents were selected purposively from nine districts of Punjab (India).The collected data was analyzed using garret ranking method. The result of the rnanalysis revealed that most important barrier in entrepreneurial success of the trainees is negative attitude of the family and society, followed by financial constraints.
Keywords: Entrepreneurial training; challenges; problems; RSETIs; successful entrepreneurs.
An Eclectic Analysis of Entrepreneurship Motivation in Conflict and Refuge: The Syrian Context
by Lubna Rashid
Abstract: This article applies the eclectic theory of entrepreneurship to the study of entrepreneurship motivation under the extreme contexts of violent conflict and subsequent displacement, where the decision to pursue entrepreneurship is modelled as an interplay of the opportunities and external resources in the entrepreneurs environment as well as individual characteristics. The study also adapts Wagner and Sternbergs view of entrepreneurial decision-making in additional to the self-determination theory to discuss the study implications. Findings suggest that conflict-affected entrepreneurs are intrinsically motivated to start new businesses as well as being driven by opportunities and resources in their institutional, economic, cultural, and social environment with no notable difference in motivational drivers between conflict-affected founders in an active conflict versus refuge context. This emphasises the positive potential outcomes of entrepreneurship in conflict and refuge and the need to comprehensively analyse entrepreneurship motivation outside of dichotomies and simple categorisations to allow for actionable recommendations.
Keywords: entrepreneurship motivation; eclectic theory of entrepreneurship; refugee entrepreneurship; entrepreneurship in conflict; self-determination theory; sustainable development; Syria; Germany.
The role of strategic motivations and mutual dependence on partner selection in SME coopetition
by Robert V. Randolph, Hanqing “Chevy” Fang, Esra Memili, Veland Ramadani, Dilek Zamantili Nayir
Abstract: Considering the significant economic impact of SMEs and their proclivity towards collaborative strategies, SME coopetition remains under researched despite evidence of its distinctiveness. Drawing upon Resource Dependence Theory, we develop and test a model that considers the role of strategic motivations, proactive or reactive, as determinants of the emphasis on mutual dependence in partner selection. We argue that coopetition is a unique avenue for constraint absorption that is particularly relevant in SMEs motivated by resource limitations and perceived market necessities. Further, we argue that SMEs with more traditional proactive strategic motivations are more likely to view coopetition as an avenue for market exploitation and thus less likely to select partners based on mutual dependence, particularly when engaging with less trusted partners. Our findings, based on the study of 104 firms in the automotive sector, generally support our arguments and suggest a number of implications for the continued study of SME coopetition.
Keywords: coopetition; competition; strategic motivations; mutual dependence; partner selection knowledge; innovation; SMEs; Turkey.
Mega Sport Events as Drivers of Entrepreneurship: Bridging the Gap between Economics and Psychology
by Ted Hayduk
Abstract: Mega Sport Events (MSEs) are a growing domain for political, economic, and social discourse. Their scale and grandeur means that municipalities and businesses see them as opportunities to further their independent and joint objectives. Thus, there is continued interest in assessing the impact MSEs have on host regions. Scholarship has assessed MSEs using two perspectives: (1) the economic perspective, which assesses macro outcomes, and (2) the psychic benefit perspective, which focuses on the micro level. Problematically, neither perspective examines theoretically congruent constructs. Thus, there is no holistic, multilevel framework for evaluating how MSEs affect host regions. This paper positions Entrepreneurial Orientation (EO) as a link between the two perspectives because EO originates at the micro level and has accumulative effects at the macro level. This framework has important practical implications for academics, policymakers, and entrepreneurs.
Keywords: Mega sport events; Entrepreneurial Orientation; Entrepreneurship; Economics; Psychology.
Digital Transformation in Small and Medium Sized Enterprises: Business Model Innovation and Information Technology Adoption The Case of Austria
by Robert Eller, Christopher Kronenberg, Mike Peters
Abstract: This study investigates digital technology adoption and business model innovation in Austrian small and medium sized enterprises (SME) and the related impact on firm performance. Empirical findings based on a survey of 121 SMEs in Austria suggest that digital technology adoption is mediated by business model innovation, and increases the financial performance of SMEs in Austria. This study contributes to a growing interest in the digital transformation and business model innovation in SMEs which facilitate firm performance. Managerial and academic impacts are also discussed.
Keywords: Digital transformation; SME; business model innovation; performance; information technology adoption; digital transformation; Austria.
A Dynamic Management Capabilities View of Small to Medium-sized Enterprise Export Readiness: A Canadian Perspective
by Nadège Levallet, David Finch, Tom Mccaffery, Amanda Espinoza, Simon Raby
Abstract: Increased trade liberalization and advancements in technology have established the foundation for global expansion of Small and Medium-sized Enterprises (SME). However, data demonstrates that most SMEs continue to focus almost exclusively on their domestic market. In this study, we leverage resource orchestration (RO) and dynamic capabilities (DC) to explore the managerial and firm level resources critical to supporting SME export expansion. This includes conducting multi-staged qualitative research to define these resources (N=28). This research identifies company age, operational resources, financial capacity, and employee knowledge and skills. In addition, we isolate dynamic managerial capabilities (DMCs) related to cognition (e.g. managerial experiences and decision-making), social capital (e.g. developing strong internal and external networks) and human capital (e.g. ability to maximize the value of people) as critical to export expansion. Lastly, we use our findings to develop a conceptual model and associated instrumentation of SME export readiness to guide future empirical research.
Keywords: Export; Small Medium Enterprise; Canadian; Internationalization.
Succession Planning and Age Dissimulation: The Impact on Human Resources and Governance in Nigeria
by Osondu Felicia Okwueze, Otu Otu Akanu
Abstract: This study investigate the fact that the phenomena of succession planning have a link to the frequency of age dissimulation among public servants, which have resulted in the increasing decline in human resources performance. The paper focuses on those who dissimulate their age on entry into public service. To support our thesis, we collected our data using a purposive sampling technique to elicit the actual responses from the population, and we analysed the data using STATA/IC. Results show that huge revenues are lost by the nation of training and retraining of the wrong staff in human resource development, then management of public resources and decision making involved in good governance are equally negatively affected as adequate human resource succession planning becomes difficult. Based on these findings, we recommend improved statistical records; a robust indigenous and well-functioning human resource management should be developed in Nigeria public sector to enhance good governance.
Keywords: human resource; succession planning; age dissimulation; public service; declining performance; good governance; Nigeria.
Moderating effect of human capital factors on the relationship between entrepreneurship training and entrepreneurial orientation: An empirical study on micro-sized businesses.
by Mohammed Al-awlaqi, Ammar Aamer, Maged Barahmah, Ahmed Al-sanabani
Abstract: Despite the fact that entrepreneurial orientation (EO) is widely studied in specific literature, little has been done to understand the ability to teach EO, or address the factors that could affect the adoption of such an important strategic entrepreneurial attitude. In this study, we used hierarchical linear regression to test the moderating effect of human capital factors on the relationship between entrepreneurship training and EO. We tested the research hypotheses on 1,330 micro-entrepreneurs who had been previously trained on entrepreneurial attitudes. We found no moderating effect of any of the tested human capital factors such as age, gender, education level, or previous work/job experience. The uniqueness of this study lies in its attempt to investigate the moderating effect of human capital factors on the relationship between entrepreneurship training and EO. According to the findings of this study, we concluded that entrepreneurs can learn and adopt entrepreneurial orientation in their businesses regardless of age, education level, gender, or work experience.
Keywords: entrepreneurship orientation; human capital; micro-sized businesses; entrepreneurship training; Yemen.
GREEN ENTREPRENEURSHIP A GAME CHANGER IN VIETNAM BUSINESS LANDSCAPE
by Nguyen Hoang Tien, Nguyen Van Tien, Nguyen Phuong Mai, Le Doan Minh Duc
Abstract: This article delivers a full insight into the concept of green entrepreneurship. Despite different nature, determinant factors, motivation, purpose and orientation towards sustainable development, the results of analysis show that it serves urgent needs of people living in megacities. With specific mission as a game changer in Vietnam business landscape, green entrepreneurship is promoting sustainable development of both society and environment. Using extensive conceptual analysis and taking closer look at tens of small Vietnamese businesses operating in three leading green sectors of the economy in Ho Chi Minh City, the article revealed how important is green entrepreneurship in megacities; how to promote it for the purpose of offering a better quality of urban life. Finally, the article proposed several solutions to enhance green entrepreneurship understanding and to further so far achievements in the future; to promote the synergy effect with other forms of social entrepreneurship for the purpose of sustainable development.
Keywords: green entrepreneurship; social entrepreneurship; sustainability issues; game changer; Vietnam.
The effect of servant leadership on employee turnover in SMEs: The role of career growth potential and employee voice
by Okechukwu Amah, Kabiru Oyetunde
Abstract: The poor contributions of SMEs in Nigeria have been a source of concern to government, researchers and the SMEs themselves. Studies have established that high employee turnover is a major cause of the abysmal performance of SMEs. Hence, the study explored the role of servant leadership and the work climate created by the servant leaders in the reduction of employee turnover in SMEs. The study involved 1000 participants drawn from 200 SMEs in the city of Lagos. Cross-sectional data was acquired through questionnaire designed in such a way as to minimise common method variance. Results indicate that servant leadership reduced employee turnover, and that employee voice and the career growth dimensions partially mediated this relationship. The study variables explained 59% of the variance in employee turnover. The paper highlights that SMEs leaders who adopt servant leadership behaviour can reduce employee turnover directly and through the positive work environment they create.
Keywords: SMEs; Servant leader; work climate; employee voice; career growth potential; turnover intention; Nigeria.
INTERROGATING CLUSTER ENTREPRENEURSHIP THE NIGERIAN ARTISANAL EXPERIENCE
by Funmilayo Afolabi, Sanya Ojo
Abstract: The artisanal entrepreneurial clusters are bounded enterprise spaces that facilitate the convergence of proximate businesses in the informal sector. These bounded spaces are governed by their own ethics and practices, which are underscored by the local tradition and customary ethos. Through a qualitative interview methodology, respondents rational and non-rational perspectives are found to dictate entrepreneurial clusters rituals and praxes. The rational and non-rational explanations include the cultural view of the entrepreneurs, which offer in-depth understanding of how people in particular setting interpret events such as the causes of accident in the workplace, competition pressure, sexual harassment, etc.
Keywords: Cluster entrepreneurship; Artisans; Occupational Health and safety; Attribution; Nigeria.
DOES INDUSTRY EXPERIENCE POSITIVELY MODERATE THE QUADRATIC RELATIONSHIP BETWEEN COOPETITION AND FINANCIAL PERFORMANCE? EVIDENCE FROM THE NEW ZEALAND WINE SECTOR
by James M. Crick, Dave Crick, Jessica M. Peixinho
Abstract: Earlier research has established the positive relationship between coopetition (the interplay between cooperation and competition) and company performance. However, typically a linear relationship is investigated and without potential moderating factors. This investigation draws upon resource-based theory and its association with the relational view, involving a mixed-methods research design. Quantitative findings are based on survey data from a sample of 101 smaller-sized vineyards and wineries in New Zealand (passing all major assessments of reliability and validity, including common method variance and endogeneity bias), but supplemented with how and why interview data from owner-managers of 20 firms. The results indicate that coopetition has a quadratic relationship with financial performance, suggesting that decision-makers should avoid engaging in not enough or excessive degrees of coopetition. Furthermore, industry experience positively moderates this quadratic link; for example, assisting decision-makers to facilitate access to trustworthy and complementary relationships offering mutually beneficial outcomes. This investigation offers unique insights that contribute to the extant literature regarding the relationship between coopetition and financial performance, additionally, practitioner implications and avenues for future research.
Keywords: Coopetition; industry experience; resource-based theory; relational view; financial performance; small businesses; entrepreneurship; mixed methods research; New Zealand wine sector; resources and capabilities; inter-firm relationships.
Brain Gains: A Cross-Country Study on the Relationship Between Remittances and Entrepreneurship
by Joshua Bedi, Shaomeng Jia, Claudia Williamson
Abstract: This paper asks: do remittances promote entrepreneurship? Remittances have become one of the largest financial inflows for developing countries. By directly providing relief, remittances are an important income and capital source for family members of immigrant workers in home countries. We hypothesize and empirically document a positive link between remittances and entrepreneurship rates across countries. Our results suggest that remittances promote early-stage business development, particularly for opportunity-seeking entrepreneurs. In addition, we find that entrepreneurs with a secondary education and from a middle-class background benefit more from remittances.
Keywords: Remittances; Entrepreneurship; Development; Immigration; Financial Inflows; Brain Drain; Brain Gain; Early-Stage Entrepreneurship; Opportunity-Driven Entrepreneurship; Diaspora Investment.
Desire and intention: causal variables of entrepreneurial action
by Indu Peiris
Abstract: This study examines characteristics of desire and intention. It argues that these two concepts are the source of an individuals entrepreneurial journey. The impact of desire and intentions on entrepreneurial action can shed light into how entrepreneurial opportunities are formed and exploited through venture creation and growth. Using case evidence of three entrepreneurial ventures in Sri Lanka, the study highlights the role of desires and intentions in developing entrepreneurial expertise and in turn entrepreneurial action. These two constructs have distinctive temporal framing which will have an effect on the strategic direction of the firm. Desires come in the form of abstract conceptualisation of indistinct opportunity potentials that are less connected to action orientation, whereas intentions are associated with distinct entrepreneurial opportunities with close action orientation.
Keywords: entrepreneurship; opportunity identification; construal level theory; CLT; desire and intention; case study method.
Financial literacy, value creation and firm performance. An investigation of Italian small and medium enterprises
by Andrea Quintiliani, Michele Modina, Massimo Arnone
Abstract: This article aims to determine the influence of entrepreneurs financial literacy for the growth of SMEs value. The paper verifies the hypothesis that there is a significant relationship between financial literacy and value creation, as indicated by economic value added (EVA
Keywords: financial literacy; financial education; small and medium-sized enterprises; SMEs; entrepreneurship; firm performance; value creation; economic value added.
What will (and should) sustainable digital maturity look like in business ecosystems? A Delphi study on the best practices, barriers and regulation of digital transformation
by Fabio James Petani, Ishraf Zaoui, Sergey Kovalev, Pascal Montagnon
Abstract: Digital transformation is a necessary condition for organisational survival and business success. The best performing organisations around the world adopt mature digital innovation strategies across functions and in every industry to compete through evolving products, services and organisational processes, pursuing new capabilities, resources and markets, via agile technologies and new business models. The capacity to capture business value through digital transformation involves managing a broad generative change in culture, corporate governance and executive leadership, across organisational dimensions. Entrepreneurs and organisations need to know more about which technologies, best practices and barriers will drive or hinder a sustainable digital maturity in the future of business ecosystems. A Delphi study is conducted with an international panel of experts from the academy, management consulting firms and industry leaders on how digital transformation might unfold and be regulated tomorrow, exploring ethical aspects of what sustainable digital maturity will (and should) look like.
Keywords: digital maturity and transformation; sustainability; Delphi study; best practices and barriers; regulation; business ethics; digital technology regulation; responsible innovation; business ecosystems; expert forecast.
Perception of entrepreneurship and entrepreneurs. Institutional celebration or stigmatisation?
by Beata Glinka, Eszter Megyeri, Gabriella Tabajdi
Abstract: Perceptions of entrepreneurship and attitudes towards entrepreneurship and entrepreneurs are a crucial element of a cultural context, influencing not only the way entrepreneurship is interpreted but also the behaviour of individuals as entrepreneurs, employees, and customers. The main purpose of this qualitative study is to assess and compare students perceptions of entrepreneurship and entrepreneurs in three countries in Central and Eastern Europe (CEE): Poland, Czech Republic, and Hungary.1 The authors introduce concepts and theories on the cultural context of entrepreneurship and present brief relevant information about the economic background of the three countries under consideration. The results of the present study indicate that despite many common political, economic, and social forces shaping the situation in Poland, Czech Republic, and Hungary, perceptions of entrepreneurship tend to differ across areas. The paper contributes to the understanding of the cultural context of entrepreneurship in CEE countries and demonstrates that the perceptions of entrepreneurship and entrepreneurs can be an important, and often overlooked, element of the cultural context of entrepreneurship, shaping the decisions and actions of individuals.
Keywords: entrepreneurship; cultural context of entrepreneurship; perception of entrepreneurship; CEE countries.
The role of the entrepreneurial leader: A study of Nigerian SMEs
by Ibiyemi Omeihe, Christian Harrison, Amon Simba, Kingsley Omeihe
Abstract: Growing evidence points to the role of entrepreneurial leadership in enhancing positive business outcomes. Yet little is known about the entrepreneurial leadership attributes and skills exploited by entrepreneurial leaders within a developing economy context. This study examines the role of entrepreneurial leadership within fashion SMEs. It exemplifies the entrepreneurial leadership attributes and skills employed by entrepreneurial leaders within Nigerian fashion SMEs. Based on 14 semi- structured interviews of entrepreneurial leaders, we found out that: (1) five broad skills namely; technical, conceptual, interpersonal, entrepreneurial and expectation management skills are employed by entrepreneurial leaders ; (2) entrepreneurial leaders rely on 7 attributes namely; hard work, long term view, passion, length of service, creativity, innovation and vision in the pursuit of their business ventures; (3) creativity and innovation are key attributes within the fashion sector ; (4) vision is described as the most important attribute an entrepreneurial leader should possess. Finally, this study recognises the interaction between attributes and skills, which serves as a foundation for understanding the transition process of entrepreneurial leadership attributes to skills. In addition, it provides new insights on the classification of competencies and it presents an instructive entrepreneurial leadership model for guiding such a categorisation.
Keywords: Entrepreneurial Leadership; Entrepreneurial Leader; Attributes; Skills; Small and Medium sized Enterprise (SME); Entrepreneurship; Leadership; Developing Economy.
EXPLORING NEXUS BETWEEN PROCRASTINATION AND ENTREPRENEURIAL INTENTIONS: A PREDICTIVE PLS-SEM APPROACH
by Sandeep Singh, Rajni Bala, Priyanka Sharma
Abstract: The aim of the study was to explore the relationship between procrastination and entrepreneurial intentions. The available literature strongly indicated that procrastination has a negative effect on entrepreneurial intentions. In the present study relationship between entrepreneurial intentions was examined with avoidant and decisional procrastination. The data were collected from five MBA institutions of Mohali district of Punjab (India). Out of these five institutions, a sample of 199 students was selected based on convenience sampling technique. The results revealed that there was a significant impact of avoidant and decisional procrastination on entrepreneurial intentions and nature of the relationship was negative. The study provides a healthier scope of future research.
Keywords: Procrastination; Entrepreneurial Intentions; Students; Avoidant; Decisional; Punjab; PLS-SEM; MBA.
Enablers and Inhibitors of Cloud Computing Adoption in Indian Small and Medium sized Enterprises
by Devesh Kumar, Harsh Vardhan Samalia
Abstract: The information and communication technologies (ICTs) penetration and adoption among Indian SMEs is low because of the high cost of ICTs and other complexities involved in using and maintaining these. In such a scenario, cloud computing can be a good option for SMEs for accessing and using appropriate ICTs in a cost-effective way. Through cloud computing, SMEs can get access to the latest ICTs using internet on a pay-per-usage basis without actually buying and maintaining such ICTs locally. However, there are some challenges like security and privacy of business data, connectivity issues and vendor lock-in, which may prevent SMEs from using cloud computing. The objective of this study is to understand and assess factors which enable or inhibit adoption of cloud computing among SMEs in India. For this, data were collected from 121 SMEs from a prominent industrial area in the northern region of India. Confirmatory factor analysis and multiple regression analysis techniques were applied for data analysis and for drawing the conclusion.
Keywords: cloud computing; adoption; India; small and medium enterprise; SME; micro; small and medium enterprise; MSME; information and communication technology; ICT; SaaS; enablers; inhibitors.
Startup - India: An exploratory analysis of issues, challenges, and the road ahead
by Sarika Sharma, D.P. Goyal
Abstract: Startups are a rising trend among young budding entrepreneurs in India. Having a strong ecosystem globally ranked among third has given the rapid increase in the number of newly established startups. To promote the entrepreneurship in India, government has launched Startup-India initiative. But the percent of businesses that fail is also significant. There are various challenges faced by startups in India both in urban and rural area. The present study addresses the issues and challenges faced by startup companies in India through exploratory qualitative research. The method used for data collection is semi-structured interviews through open-ended questions. The investigation is based on a sample of 148 startups from all over India. The Inductive method was used for qualitative data analysis using the software AQUAD 7.0. The challenges emerged are also presented as a comparison with the existing literature. The findings and suggestions may be useful to the policymakers and entrepreneurs.
Keywords: Startup-India; Indian Startups; Challenges; Issues; Qualitative analysis.
Explaining Women Entrepreneurship in Bhutan: An Interpretative Phenomenological Analysis
by Madhura Bedarkar, Yogesh Brahmankar, Tenzin Rabgay, Kinley Yangdon
Abstract: The study explores the experience of women entrepreneurs in the unorganized sector of Himalayan Kingdom of Bhutan. Interpretative Phenomenological Analysis was used to discover the experiences of the women entrepreneurs and twelve super-ordinate themes were drawn. It is found that the motivational factors to take up entrepreneurship varied from having to support family to taking up entrepreneurship as career option due to low education. Access to finance; work-family conflict; fragmented and saturated markets; lack of infrastructural support; difficulty in hiring employees are some of the challenges faced. The findings are mostly consistent with similar previous studies conducted in the region. The Study proposes that sector-specific micro-finance schemes and a collaborative network of government and non-government organizations would help in addressing the challenges faced by women entrepreneurs. This research is among the initial studies conducted in Bhutan pertaining to women entrepreneurship and in particular using IPA to explore the in-depth experiences of the women entrepreneurs.
Keywords: Women Entrepreneurship; Interpretative Phenomenological Analysis; Bhutan; informal and unorganized sector.
Understanding the Motivating Factors for Women Entrepreneurs: Empirical Insights from Indian Micro Enterprises
by Sheela Bhargava, Rachita Rana
Abstract: This study is about women entrepreneurs engaged in micro enterprises, their socio-demographic characteristics, their challenges and the factors motivating them to start business in an urban setting in India. With the intention of attaining deep insights into the current conditions, motives and challenges of Indian urban women in entrepreneurship, a survey of 284 women entrepreneurs running micro enterprises in various areas of service sector like education, (e.g., play schools & coaching centers), beauty care & treatment (beauty parlours/salons), tailoring boutiques, day care centers (cr
Keywords: Women entrepreneur; urban economy; factors motivating to starting business; socio-economic development; NCT (National Capital Territory) of Delhi; personal factors; economic factors; social factors; micro enterprises; service sector; entrepreneurship; MSMEs (Micro; Small and Medium Enterprises); economic development; financial constraints; government support.
Entrepreneur gatekeepers and adaptors of knowledge in emerging food processing clusters in Ghana
by Anthony Ayakwah, Leandro Sepulveda, Fergus Lyon
Abstract: Development, prosperity and sustainable livelihoods in Africa requires knowledge and technology adapted to local contexts. This paper argues that entrepreneur gatekeepers within developing economy clusters can become potent conduits for adapting technology but research overlooks their role, particularly when they are operating as part of the informal economy. This study therefore addresses this knowledge gap through a qualitative empirical study of two food processing clusters in Ghana. Gatekeepers are identified as those entrepreneurs who bring tacit and codified knowledge to be shared throughout a cluster, and also adapt technology to local contexts. The informal nature of the African economy shapes these processes with knowledge shared through personal trust based relationships, the movement of labour between businesses and work of artisan engineers who adapt technology. Innovation support in an African context therefore needs to work with these entrepreneur gatekeepers as well as larger companies and public institutions.
Keywords: Entrepreneur gatekeepers; Cluster; Technology; Food processing; Informal sector; Africa; Ghana; Multinational companies.
Interpretive Structural Model (ISM) and MICMAC for Facilitators and Barriers to Small scale Potato Processing Industry among Self-employed Farmers
by Jaspreet Kaur, Ashima Gupta
Abstract: The purpose of this paper is to identify the challenges and enablers for potato processing industry among farmers in Agra region, Uttar Pradesh, India. The study was exploratory in nature. It used interview method from farmers which included open ended questions with sample of five districts from Agra region. Interpretive structural model (ISM) was used to determine the structural relationship between different challenges identified from the interviews from farmers. The results of the study were two-fold. It included enablers and challenges to PPI among farmers. ISM resulted that, decreasing land size was the problem of much concern and root cause of the problem was low education level, unfavourable environmental factors and long supply chain. Further, MICMAC analysis helped to determine the most driving and dependence factors. Government policies, developing entrepreneurial intentions, technical know-how and expertise were found to be important enablers for PPI.
Keywords: potato processing industry; PPI; farmers; agriculture; enablers and challenges; interpretive structural model; ISM; MICMAC analysis.
Women entrepreneurship motivational factors: analysing effect through the conceptual competency-based framework
by Sucheta Agarwal, Vivek Agrawal
Abstract: The present study overcomes the void in academic literature by establishing a conceptual framework relating to women's entrepreneurship competency development. Based on an analysis of the current literature and using resource-based view theory, social learning theory, role theory, and the theory of social identity, this research provides a conceptual framework with personal, social, and environmental motivating factors as its core constructs for competency development for the growth of their enterprises. The motivational factors affect women entrepreneurs' entrepreneurial learning (formal and informal learning) to improve their skills, talent, and competencies, which help them achieve success in the development of enterprises. These factors are the balance between family and work responsibilities, self and social identity of women entrepreneurs, entrepreneurship education and training, experience of women, visibility and interaction with role models, influence of family and friends, awareness about government, non-government organisations (NGOs) and financial institutions promotional schemes, and impact of culture. It is one of the leading research that discusses women entrepreneurs' growth through the conceptual competency-based framework and it is also a contribution to the literature in women entrepreneurship.
Keywords: women entrepreneurs: social identity” support organisations; motivation; competency; entrepreneurial learning.
Social Media Marketing Adoption by unorganised businesses in India: A technology adoption model based approach
by Sarika Sharma, Archana Singh, Sonica Rautela
Abstract: The unorganised sector although not so well accepted but plays a major role in Indian economy and employment generation. These small businesses heavily rely on customers for their survival therefore marketing plays an integral part. Social media marketing (SMM) with its wide reach and affordability can help them provide much needed marketing boost. The purpose of this paper is to find the adoption intention of SMM by unorganised businesses. With the help of existing literature a theoretical model is proposed based on widely accepted technology adoption model (TAM). This model is then empirically evaluated with a data of 248 unorganised businesses in India using structural equation modelling (SEM). The results highlight that perceived ease of use impacts the intention to use social media marketing as well as it impact perceived usefulness. Cost effectiveness and interactivity have no impact on intention to use SMM. The moderating effect of gender and educational level is also presented in the paper.
Keywords: Social media marketing; unorganised business; technology adoption model; structural equation modelling; cost effectiveness; interactivity.
Women-owned, home-based businesses: The effects of location on growth
by Zeevik Greenberg, Eli Gimmon, Yanay Farja, Yahel Kurlander
Abstract: Purpose: Building on institutional theory, this research explores spatial-institutional contexts differentiating between women-owned businesses located in periphery and core regions, and between home-based and away-from-home businesses. The design relies on mixed methods: we conducted a quantitative survey of 156 women entrepreneurs from core and periphery regions in Israel, followed by a qualitative survey of nine women entrepreneurs using semi-constructed, in-depth interviews. The characteristics of women-owned businesses were corroborated using a sample of men-owned businesses for comparison. The findings suggest that the choice of locating a business at home is often gender-driven, as it allows upholding of the gender contract while still breaking the glass ceiling. Furthermore, the findings suggest that gender and location affect business performance: women-owned home-based businesses in peripheral regions enjoy higher growth than similar businesses in core regions or similar businesses owned by men. The study bears practical implications for women entrepreneurs in peripheral regions, in all business sectors, suggesting that running a business from home is an advantage. Originality: This is a first-of-its-kind examination of the intersection between home-base and peripheral location and its effect on women-owned businesses, as well as the influence of spatial-institutional contexts on business growth. The study corroborates the institutional theory and the feminist perspectives of gender occupation by exploring factors that drive women to start and expand home-based businesses.
Keywords: Women's entrepreneurship; Business growth; SME; Home-based; Peripheral regions; family.
Training needs for successful businesswomen: a narrative analysis of stories of women entrepreneurs
by May Portuguez Castro, Marcela Georgina Gómez Zermeño
Abstract: This research is a qualitative study that develops a narrative analysis of the entrepreneurial experiences of two women business owners in the State of Nuevo Leon, Mexico. This study sought to understand the training needs of female entrepreneurs from the experiences of these women who started their own companies. This issue of entrepreneurship arouses much curiosity and interest in the characteristics of the people who undertake it and how they develop their plans. It is essential to analyse the experiences of entrepreneurs to incorporate the lessons learned into training programs that fulfil the needs and learning styles of people starting and operating their own companies. The women consulted recommended as the key topics in a training program the incorporation of the family into the training processes, the methodologies for scaling up businesses, tools that facilitate the management of revenue, expenses, and earnings, activities that increase self-efficacy, how to search for funding resources and investment capital, and networking.
Keywords: education for entrepreneurship; narrative research; gender equality; women and development; social justice; higher education; educational innovation.
Drivers of Critical Thinking among Women Micro-Entrepreneurs in Ghana
by Fanny Quagrainie, Murat Erogul, Afia Dentaa Dankwa, Alan Kabalan
Abstract: The study investigates critical thinking behaviours of women micro-entrepreneurs in Ghana by examining how life experience, education, use of Internet, social engagement and self-criticism act as antecedents of critical thinking behaviours using age as a mediator. 336 women micro-entrepreneurs were identified in Accra and Tema. Findings reveal that antecedents of critical thinking in developed and developing contexts can vary and age is a mediator that equips women micro-entrepreneurs with knowledge and skills that are useful for critical thinking. The paper contributes to the female entrepreneurship literature that critical thinking among women micro-entrepreneurs can be enhanced as a socially situated practice, emphasising the emergent understanding of critical thinking as embedded within social processes and context.
Keywords: critical thinking; micro-entrepreneurs; women; age; Ghana.
Moderating role of Personal Attitude , Social Norms and Self efficacy on the relationship between Protean career pattern and Entrepreneurial orientation among students in India : A structural equation modelling approach.
by Meha Joshi, Girish Chandra Maheshwari, Rajan Yadav
Abstract: The change in the mindset of millennials has led to the emergence of several new career patterns. It has been observed over the years that millennials do not want to follow a rigid career path rather they look for unconventional kind of career, which is self-directed and value-driven, also called as Protean career. This paper aims at investigating the difference in Protean career orientation among the students of Management of select Business schools of Delhi based on their gender. Moreover, the study aims at understanding the moderation effect of Personal Attitude, Self-efficacy and Social norms on the relationship between protean career orientation and Entrepreneurial orientation of the students. Data was collected from 250 students pursuing Management education in select Business Schools in Delhi and NCR. The data was analysed using Structural Equation Modelling and the software used was AMOS 20. The results show that there is no significant difference in the Protean career orientation and Entrepreneurial Orientation of students based on their gender. Personal attitude and Social norms are found to be significantly moderating the relationship between Protean career orientation and Entrepreneurial Orientation. Self-efficacy did not show the moderation effect on the relationship between Protean orientation of students and Entrepreneurial Orientation. The study has several implications. The study would add some significant perspectives on the ongoing efforts towards giving a boost to Entrepreneurship in India to deal with present-day challenges of Unemployment. Also, it will help in understanding the emerging protean career among the students.
Keywords: Gender; Protean career; Millennials; Self-efficacy; Entrepreneurship; Structural Equation Modelling; Social Norms.
The Utilisation of Digital Media for Branding Startups
by Demetris Vrontis, Alkis Thrassou, Milena Viassone
Abstract: The critical and irrevocably strengthening role of social media and mobile technology in brand building strategies is naturally reflected in extant literature. The latter, however, focuses on practices of established companies, without paying due attention to startups, and only considering specific aspects of these, such as their dynamic branding models and flexible branding processes. This paper aims at this gap and investigates how startups differ in their utilization of social media and mobile technologies for branding purposes, in terms of requisite means and aims. The findings highlight visible differences between startups and established companies, in terms of strategic aims, use and prioritisation of benefits gained and barriers to implementation. Methodologically, the research rests on a mixed-method approach comprising interviews, secondary data, observation, expert panel control and a multiple case study of three Italian startups; and conceptually develops descriptive findings towards prescriptive conclusions and implications of both scholarly and industry worth.
Keywords: digital media; mobile technologies; social media; branding; startups; interviews; secondary data; observation; expert panel control; multiple case study.
Succession in times of financial uncertainty: a case of German construction family business through the accountants lens
by Zaidoon Alhatabat
Abstract: Succession in family businesses in times of financial uncertainty is the topic of the current study. The study highlights conflicts that may arise when sharing management and accounting functions and when seeking to determine senior management succession, as investigated through the accountants lens. Bourdieus theory of practice is used as exploratory and explanatory theoretical foundation, which supports data collection and analysis. A qualitative methodology is employed to focus in particular on family members perceptions of their family business situation and family habitus. Data was collected via two methods: interviews and participant observation, due to available access and also for the purpose of triangulation. The former took place formally and each interview was manually transcribed, the latter took place in an informal setting, thus no taping or immediate transcripts were possible. The studys findings illustrate a case of succession in a small German family business in times of financial uncertainty. It explores the habitus of the family in the context of the business, and utilises the accounting habitus to analyse data through the accountants lens.
Keywords: German family business culture; Bourdieu; succession; family habitus; accountants’ habitus.
Social skills in family business succession: Going beyond economic-centred goals
by Hedi YEZZA
Abstract: This study builds on previous research on the required competencies of potential CEOs in the family succession process. Whilst aiming to improve the family business literature by exploring the particularities of emerging economies in Africa, this studys main objective is to highlight the importance of a successors social skills during the succession process, taking into consideration non-economic-centred goals. For this purpose, both qualitative and quantitative methods were applied. First, we conducted five qualitative case studies among Tunisian family business firms. Then, we strengthened our results with a quantitative study by using 105 questionnaires with family business companies that experienced at least one succession in their recent history. The results show that social skills play an important role and have a positive impact on non-economic-centred goals. These goals rooted in studies developed around the socio-emotional wealth concept will be discussed in this paper.
Keywords: family business; social skills; successors; non-economic centred goals; socio-emotional wealth.
An Empirical Study on Present State of Agriculture Entrepreneurship and Its Barriers
by Rahul Dhiman
Abstract: The purpose of this paper is to identify problems faced by agripreneurs in Himachal Pradesh. The study is conducted in three development blocks of Solan district of Himachal Pradesh using multi-stage random sampling. The findings of the study reveal the major barriers that are being faced by the agripreneurs in the state of Himachal Pradesh and reveals that agriculture is basic entrepreneurial activity adopted by the farmers followed by horticulture, livestock, fishery and poultry. Also majority of the farmers have inherited the business. It is also found that majority of the entrepreneurs feel that they are not taking advantage of any scheme since this involved a large amount of running around and also feel that procedure to make use of such schemes is cumbersome. This avoids them to remain away from using various government schemes. The study further reveals that the major problems faced by farmers are associated towards not having appropriate information regarding start up of an enterprise followed by lack of entrepreneurial skill or management skills, retention of labour force, shortage of knowledge to contract with workers, marketing problems, unavailability of information on changing state of affairs, inadequate scientific support, shortage of resources, large amount of paper work and tight repayment schedule. It is also recommended to the government to further simplify the process of making use of schemes and the development of marketing facilities in local areas.
Keywords: Agripreneurship; agripreneurship barriers; entrepreneurial skills.
Exploring Organisational Agility in SMEs
by Saad Zighan, Nidal Dwaikat
Abstract: SMEs in Jordan are facing unanticipated and rapid changes in their business environment. With a view to improve the sustainability and survival of SMEs in Jordan, this study investigates the application of organisational agility in terms of innovation, flexibility, responsiveness, adaptability and resilience. Drawing on semi-structured interviews with 53 furniture manufacturing SMEs in Jordan, the study finds that SMEs do not adopt agility in comparison to larger organisations. They face several resource constraints and financial frictions represent a severe obstacle for the development of SMEs agility. In terms of increasing their agility, the results show that manufacturing SMEs can leverage their employees skills and capabilities in an efficient and effective manner, which will, in turn, offer a significant and simultaneous effect on the organisational agility. The results also indicate that customer-orientation, service-provision and strategic collaboration have a substantial effect on the development of the SMEs agility.
Keywords: SMEs; Agility; Innovation; Flexibility; Responsive; Adaptability; Resilience.
The Determinants of Non-family Employees Turnover Intentions in Family Firms
by Omer Yazici, Esra Memili, Pankaj C. Patel, Veland Ramadani
Abstract: While research on the organisational behaviour and HRM (i.e., organisational identification, justice, commitment, and turnover intentions) in family business contexts has been advancing, the empirical investigation of non-family employees perceptions has been still scarce. Drawing upon the family influence literature and organisational identification, justice, and commitment theories, we explore the determinants of non-family employees turnover intentions. Specifically, we examine the impact of non-family employees family firm identification and perceived justice on family firm commitment, in turn affecting turnover intentions. Furthermore, we examine the moderation effects of perceived family influence on these links. Our findings demonstrate that non-family employees family firm identification and perceived justice positively affect their family firm commitment, which in turn lowers turnover intentions. While family firm commitment mediates the relationship between family firm identification and turnover intentions, perceived family influence moderates the mediation effects of family firm commitment between family firm identification and turnover intentions.
Keywords: non-family employees; employee commitment; turnover intentions; organisational identification; family business.
The importance of e-commerce adoption to boost small enterprise growth in the South African tourism industry
by Boris Urban, Willem-Friso Van Der Putten
Abstract: Recognising there are several problems related to e-commerce adoption, which is primarily researched at a large firm-level in developed countries, the purpose of this study is to evaluate factors that may influence e-commerce adoption amongst small and medium enterprises in the South African tourism industry context. Results indicate that organisational resources in terms of communication and commitment, and environmental resources in terms of market e-readiness were found to be significant factors in relation to e-commerce adoption. Moreover, the size of the enterprise was a significant indicator of e-commerce adoption across all factors related to the technology-organization-environment framework. By applying an empirical and theoretical lens this study has increased the relevance of both the technology-organization-environment framework and e-commerce adoption by expanding it from mostly a descriptive nature to a topic that examines important relationships between these constructs in an emerging African market context.
Keywords: e-commerce; adoption; technology; organisational; environmental; small and medium enterprises; tourism; South Africa.
Kosovos Initial-Stage Venture Capital Market: Challenges and Perspectives
by Herolinda Murati-Leka
Abstract: The market evolution is a consistent process associated with different challenges which increases the complexity of an economy. One of the main barrier facing in this process would be the disparity of information known as the presence of asymmetric information in these markets. Asymmetric information problem is especially severe in developing markets. This study provides new insights into research on venture capital in emerging markets with a special emphasise in the case of Kosovo. The idea of this paper is to examine the state of the market of Kosovo in general, than analyse and understand the business environment and other macroeconomic conditions in order to have a deep view of the Kosovos economy. The recommendations given in this study not only have important implications for the start-up companies and the business area in general, but also have a significant meaning for the policy making of government to make the business climate a relatively fair information environment for perspective domestic and foreign venture capital investors.
Keywords: venture capital; emerging markets; ICT; SMEs; start-ups.
The Extent of Technological Innovation Adoption among Micro, Small and Medium Food Processing Enterprises and its Effects on Poverty Reduction
by Kenneth Barroga, Agnes Rola, Dinah Pura Depositario, Larry Digal
Abstract: This studys main research question as contextualised for Davao region, Philippines, is what are the effects of the extent of technological innovation adoption (TIA) among micro, small, and medium food processing enterprises (MSMFEs) on the persistent developmental issue of poverty? This study involved DOSTs the Small Enterprises Technology Upgrading Program (SETUP) under which financial assistance for MSMFEs is provided to enable them to adopt technological innovations to boost productivity. Primary data were obtained through a census of 52 MSMFEs and key informant interviews. The analytical tools used included a composite index construction, an ordered logistic regression analysis, and a before-and-after approach to impact evaluation. The adoption indices ascertained which MSMFEs did not adopt the technological innovations of SETUP and which ones adopted less, moderately, and highly or fully. There was a positive and significant impact of TIA on MSMFEs annual gross sales, employment, and daily wage rates of direct workers; thus, contributing to poverty alleviation. Given these promising findings, this study suggests that, among the menu of available poverty reduction strategies, one with far reaching potential is that of strengthening the MSMFEs through TIA.
Keywords: impact assessment; ordered logistic regression; poverty; SETUP; SME; technological innovation adoption.
Entrepreneurial intention and its antecedents: A study of undergraduate students in the Uttarakhand state of India
by Shweta Belwal, Rakesh Belwal, Anamika Chhetri
Abstract: Successful promotion of entrepreneurship requires an understanding of entrepreneurial intentions (EI) among the subjects. The purpose of this paper is to study the relationship between EI and its antecedents concerning the undergraduates in India. This research is based on the Theory of Planned Behaviour (TPB). Extending the TPB framework, a hypo-deductive research-based approach was used to test the hypotheses associated with EI and its antecedents. An adapted version of the Entrepreneurial Intention Questionnaire (EIQ) was used to collect data using the survey method. Partial Least Square method was used to test the hypotheses. The results reflected that personal attitude, perceived behavioural control, and University Support make a significant positive impact on the EI of undergraduates. No significant positive association between other antecedents of EI (i.e., entrepreneurial support, social norms, general self-efficacy) and EI was found. The moderator effect of gender and family background between the antecedents of EI and EI was not supported. The outcomes appeal establishment and promotion of social norms favouring entrepreneurship which appear neutral, at this stage. The outcomes reiterate the importance of personal attitude, perceived behaviour control, and University Support as the key influencer in the given context and demand university authorities and policymakers to boost EI of students by taking cognizance of these factors.
Keywords: India; Entrepreneurial intention; undergraduates; antecedents; education.
Entrepreneurial motives in Greek rural areas: "Opportunity" or "Necessity"?
by CHARISIA VLACHOU, OLGA IAKOVIDOU, PANAGIOTA SERGAKI, GEORGE MENEXES
Abstract: Entrepreneurship is vital he development and sustainability of rural areas. This research examines the motives for entrepreneurship in rural areas in Greece and delves further into the form of entrepreneurship based on the motives prevailing in these areas. The data collection was conducted through personal interviews totalling 240 questionnaires, disseminated among entrepreneurs. Understanding business motives may provide valuable information for policymakers to facilitate or develop a favourable business environment in rural areas. Equally important is the identification of entrepreneurship (opportunity or out of necessity), as it can shape the socioeconomic development of the rural communities in which the businesses are located. The search for motives for start-up business activity, especially in rural areas, is important, as it demonstrates the extent to which activities are real business efforts based on an internal need, or recognition of an opportunity, or a response to adverse economic circumstances, including unemployment.
Keywords: entrepreneurial motives; ‘necessity-opportunity’ entrepreneurship; rural areas; ‘push-pull’ theory.
Towards More Qualitative Research Paradigms in Nascent Entrepreneurship Research
by Maha Aly
Abstract: This paper argues that the research community may need to pay more attention to the value of qualitative research paradigms for the identification of behavioural patterns of nascent entrepreneurs. It presents a methodological approach to gain insights that complement significantly the current mainstream quantitative research. This paper highlights, justifies and explains the methodology used in an empirical study (example) exploring the behavioural patterns of nascent entrepreneurs in Germany during the early bootstrapping phase. Both Grounded Theory and ethnographic research techniques are used to uncover hidden explanations for entrepreneurial decision-making. Weaved together by methodological triangulation, the paper shows the potential explanatory power of qualitative research in the context of nascent entrepreneurs. It allows for an in-depth view into why and how qualitative methods are used to address certain behavioural patterns in the field of entrepreneurship. The mix of methods here is not common in the context of entrepreneurial empirical research, but borrowed from anthropology.
Keywords: research methodology; qualitative; inductive; Grounded Theory; ethnographic research; nascent entrepreneurship; anthropology.
Reward crowdfunding and the success of campaigns: exploring the role of social capital of entrepreneurs and investors
by Ciro Troise, Sergey Yablonsky
Abstract: Crowdfunding is a popular fundraising system leveraged by several entrepreneurs to support their business, in particular start ups and SMEs. This research presents a first examination of social capital developed within crowdfunding platforms by the two main actors involved in this mechanism, namely the entrepreneurs and the investors. The research examines the impact of social capital of both these actors on funding success. We use several parameters in order to measure social capital and we collected data through Ulule, a well-known platform of reward-based crowdfunding. The results show that projects backed by entrepreneurs before the launch of their own project positively affect the funding success, while the projects followed by entrepreneurs have negative effects. Instead, projects followed by investors have a positive impact on funding success as well as the number of expert investors. The research will offer several implications for different stakeholders.
Keywords: entrepreneurship; social capital; crowdfunding; entrepreneurs; investors.
The Importance of Social Marketing in Improving the Effectiveness of Adult Entrepreneurship Training for Poverty Reduction in South Africa
by Celestin Mayombe
Abstract: The purpose of this article is to analyse the usage of social marketing strategies in improving the effectiveness of adult entrepreneurship training for poverty reduction in South Africa. It highlights how social marketing can be used in adult education and training centres to embrace social entrepreneurs (those that innovate to help poor and vulnerable people for a profit). The study used qualitative research design of multiple case studies. As data collection techniques, one-on-one semi-structured interviews were conducted with six self-employed adult trainees and five centre managers. The findings show that social marketing plays a major role of enhancing the effectiveness of entrepreneurship training. At centre level, promotion strategies consisted of motivating the trainees to acquire entrepreneurial skills and to create own entrepreneurship activities, as individuals and in groups or co-operatives while being in training. The author concludes that social marketing was important in getting poor and unemployed adults to enrol for the skills training programmes and creating change in their behaviour to start own small businesses. As practical implications, there is a need for policy makers at local and national levels to embrace social marketing in order to enhance the effectiveness of entrepreneurship training for poverty reduction among the poor and vulnerable population groups.
Keywords: Adult education; entrepreneurship; social marketing; vulnerable populations; poverty reduction.
Epistemology of Business Incubators and the Incubation theory
by Apoorv Ranjan Sharma, Balvinder Shukla, Manoj Joshi
Abstract: This scholarly contribution attempts to explore the role of Business Incubators (BIs) on Indian start-ups. It leads to few un-answered queries. Can it impact innovation? How does it leverage job generation? Does it lead to an effective creation? This further manoeuvred us to a very important posit on BIs impact on job generation, wealth creation and economic development of India. However, the data on BIs in Indian context is scanty, being in nascent stages. Therefore, the primary data through structured and unstructured interviews was chosen as a research method. A series of structured interviews were conducted with founders of start-ups, entrepreneurs and BIs. To avoid biases, we used triangulation techniques, engaging several touch points during data acquisition. Out of the existing forty (40) BIs spread across PAN India that we approached, barring few, most responded to the interviews. As researchers we focussed on the principal research question, proposing that start-ups are finding BIs as an ideal platform towards Innovation and seeking strategic advice, which includes planning, raising capital and managing their systems and processes. A healthy start-up spin-off from these BIs leads to jobs generation in turn wealth creation for individuals and the country as whole. The research provides an insight to an Indian perspective based on the interaction with the founders of start-ups and BIs. The authors also propose a new business incubation model based on mentoring, which has been tested in reducing the start-up mortality rate by 1%. The authors contribution offers knowledge to the existing repository on the BI in the Indian context leading to a policy framework.
Keywords: Entrepreneurship; Innovation; Start-up; Business Incubators; Accelerators; job generation; wealth creation; India.
Multiculturalism and Entrepreneurial Expansion
by Maher Al-Sayah, Charbel Salloum, Quentin Lefebvre, Laura Salloum, Diala Kabbara
Abstract: The social environment plays an important role in forming an individuals ex-ante entrepreneurial experience. Living in a socially diverse environment compels people to be more open towards other communities and their practices. This study aims to reveal the correlation between the fast, multinational Lebanese entrepreneurial expansion and Lebanese social diversity, where cognitive cultural intelligence represents an important part of the ex-ante entrepreneurial experiences. A linear regression was established to analyse the following four topics: the correlation between cognitive cultural identity, adaptation capabilities and business flexibility; the correlation between cognitive cultural identity and the perception of new opportunities; the correlation between cognitive cultural identity and lower entrepreneurial costs; and the link between cognitive cultural identity and faster application accomplishment. These topics were evaluated based on the Lebanese foreign expansion, which has been influenced by the countrys extremely diverse social environment. An adapted form of the endogenous growth theory was introduced to fit into the studys approach towards the topic in question.
Keywords: Entrepreneurship; cognitive cultural intelligence; endogenous growth; social identity; diversity.
Do Self-Employment Determinants Have a Gender at the Macro Level? A Panel Analysis of OECD Countries
by Brahim Gaies, Adnane Maalaoui, Leo Paul Dana
Abstract: This study investigates whether female self-employment at the country level is similarly or differently impacted by the same factors as is male self-employment. In order to determine these factors, we referred to three major theories explaining the entrepreneurship determinants at the macro level, namely institutional theory, eclectic theory and gender theory. The hypotheses arising from this theoretical framework are tested on the basis of a panel data analysis for the 36 OECD countries over the period 20002014. Our analysis reveals that while certain factors (social perception of entrepreneurship, economic development and gender equality in nascent entrepreneurship) play the same role at the national level with regard to female and male self-employment, other factors (unemployment and normative support for entrepreneurship) have a different influence.
Keywords: women entrepreneurship; applied entrepreneurship in macroeconomics; panel data; Generalized Least Squares (GLS) panel regression model; opportunity discovery; gender gap.
CULTURAL FACTORS AND ARAB FEMALE ENTREPRENEURS IN SPAIN
by Saikat Gochhait, Miriam Cano-Rubio, Rocío Martinez-Jimenez, Sabiha Fazalbhoy
Abstract: This paper analyses the primary motivations and obstacles of Arab women entrepreneurs in a different cultural environment, Spain to determine why and how they get involved in entrepreneurism. The paper employs a qualitative empirical study based on seven in-depth interviews to Arab women entrepreneurs in Spain.
Keywords: Women entrepreneurship; Arab world; Spain; motives and obstacles; gender stereotypes.
The impact of COVID-19 crisis on Hungarian small- and medium-sized enterprises
by Peter Karacsony
Abstract: The main purpose of this study is to determine the impact of coronavirus (Covid-19) on small- and medium-sized businesses in Hungary. Coronavirus has a wide-reaching effect on the economy. This study researches the events of the last few months and the impact of the coronavirus on Hungarian small and medium-sized enterprises and their operation. In other words, how has the life of small and medium-sized enterprises been changed by the coronavirus in Hungary? To test the hypothesis, the data of the questionnaire survey was used to assess the effects of the COVID-19 crisis among Hungarian small and medium-sized enterprises. After preliminary processing of the data, questionnaire data from 318 companies were used for further analysis. Only SMEs were included in our sample. In addition, companies with incomplete questionnaires were excluded. During the research it was confirmed that the coronavirus had a significant effect on the daily operation of Hungarian small and medium-sized enterprises and on the changes in the number of employees. The study provides a clear insight into the early impact of the Covid-19 outbreak on Hungarian SMEs, and it assesses the measures taken by Hungarian SMEs during the crisis. This study is novel and up-to-date, and thus can help better understanding of the economic issues of recent months and serve as a basis for further research.
Keywords: coronavirus; COVID-19; Hungary; small- and medium-sized enterprises; economic crisis; management; governmental measures; home office work; profitability; risk.
Ownership experience: its relevance to Philippine micro and small entrepreneurs
by Sheevun Di Guliman
Abstract: This study primarily investigated whether facets of an entrepreneurs human capital predict their ability to identify and eventually pursue an entrepreneurial opportunity. Based on a survey of 390 Philippine micro and small entrepreneurs, through a personally administered questionnaire, this study also probed on the reasons, which led them to business ownership. The regression results suggest that ownership experience is positively related to both entrepreneurs identification and eventual pursuit of such entrepreneurial opportunity. Moreover, the identification of entrepreneurial opportunity is positively driven by the entrepreneurs social welfare motive yet negatively related to an entrepreneurs financial motive. However, results showed that financial motive was the foremost reason that led them to business ownership. Finally, the findings of this study suggest that in economies where resources are limited, entrepreneurial programs may focus more on those with higher ownership experience as they can translate opportunities to actual business.
Keywords: MSMEs; micro; small and medium enterprises; human capital; opportunity identification; opportunity pursuit; ownership experience; necessity-driven; financial motive; social entrepreneurs; developing country; Philippines.
Entrepreneurial imaginativeness, foresightedness and experiential tourism delivery
by Manoj Joshi, Dhiraj A, Meenakshi Gandhi, Soumi Roy, Niharika Jaiswal
Abstract: In a volatile, uncertain, complex and ambiguous (VUCA) world, when all others perspire in chaos, entrepreneurs perceive opportunities! The story of India City Walks, (ICW) is an expedition to the world of opportunities that laid in the disguise of heritage tourism. The purpose of this study is to capture the venture ideation of ICW, based on the imaginativeness of the protagonist and to identify the value of heritage tourism. The entrepreneurial actions were captured using qualitative research techniques, identifying the incumbent firm from amongst 50 start-ups in the tourism cohort. To validate evidence, multiple research methodologies were administered spread over a longitudinal period. In this research, exploratory research design was adopted with comprehensive research approach and building theory from case. The phenomenological study was supported by in-depth interviews with the entrepreneur and individuals within ecosystem around the enterprise. This enabled triangulating the data and neutralising biases, if any. Alongside deducing findings by constructivism and content analysis, the authors delved into deploying etymology and epistemology to come up with an even-handed approach. The research attempts to reflect how an entrepreneur Sachin Bansal (Sachin) by harnessing experiential learning, inculcated innovation in the heritage tourism industry by incepting a start-up, ICW, which has remodelled on how heritage & experiential tourism is viewed from Indian perspective. The originality of the identified enterprise demonstrates the expedition of an entrepreneurial couple engaged in showcasing cultural heritage & city experiences in India. The limitation of delineating the grounded theory on a single entrepreneurial evidence may require additional cases towards strengthening new theory creation and build it forward around entrepreneurial imaginativeness, foresight and experiential delivery.
Keywords: Entrepreneurship; Entrepreneurial actions; Imaginativeness; Innovative Practices; India City Walks™; Sachin Bansal; City Explorers®; Delhi Walks®; Chief Explorer®; Small Business; Foresight.
Entrepreneurship Education: Implications from Recent Findings in Biology
by Ravinder K. Zutshi, Wee-Liang Tan
Abstract: Entrepreneurship education has grown from the early days when there were only a few schools offering courses. The content of the education is drawn from various disciplines. Most of the disciplines that entrepreneurship draws from are from human sciences for example, economics, philosophy, sociology, and psychology. Human sciences are uncertain sciences. However, advancements in the biological sciences, genetics and neurobiology enable scholars in mind-sciences and decision theory to better understand human decision process. It has serious implications for entrepreneurship education. In this paper, we explore these developments and the implications for entrepreneurship education.
Keywords: entrepreneurship education; advances in biology and neuroscience; implications for entrepreneurship programmes.
From perceptions to performance to business intentions: what do women and men entrepreneurs really see?
by Dafna Kariv, Oren Kaplan, Mihai Ibanescu, Luis Cisneros
Abstract: This study aims to decipher women and men entrepreneurs pursuant intentions related to their entrepreneurial business contingency by decoding their perceptions of the environment as opportunities or hurdles to their subsequent financial performance. Drawing on the effectuation model and entrepreneurial self-efficacy, our study reinforces findings on gender differences in perceptions of opportunities and hurdles, particularly on womens higher levels of hurdle as well as opportunity perceptions, revealing womens wider range of financial performance relative to men based on their hurdle and opportunity perceptions. Contradicting some existing research, our study revealed gender similarities in the perceptual conversion of hurdles and opportunities into business intentions, hence introducing novel perspectives on these relations. Implications of the gender and effectuation perspectives for higher education are discussed.
Keywords: business performance: business intentions: gender.
THE NATURE OF THE RELATIONSHIP BETWEEN AN ENTREPRENEURIAL MARKETING ORIENTATION AND SMALL BUSINESS GROWTH:EVIDENCE FROM MALAYSIA
by Muhammad Iskandar Hamzah, James M. Crick, Dave Crick, Syukrina Alini Mat Ali, Noor'ain Mohamad Yunus
Abstract: Guided by resource-based theory, this study examines the nature of the relationship between an entrepreneurial marketing orientation (the interplay between market-oriented and entrepreneurially-oriented behaviours) and small business growth. Survey responses were collected from 421 smaller-sized firms in Malaysia. After assessing the statistical data for all major robustness checks, hierarchical regression was used to evaluate the conceptual framework. The results suggested that on their own, market orientation and entrepreneurial orientation have linear (positive) relationships with small business growth. More importantly, an entrepreneurial marketing orientation exhibited a nonlinear (inverted U-shaped) association with small business growth. Thus, owner-managers are faced with the challenge of fostering an optimal-level of an entrepreneurial marketing orientation to avoid potentially harmful performance consequences. Consequently, unique insights have emerged regarding the complexities of the marketing/entrepreneurship interface, with stronger evidence pertaining to the dangers of implementing too little or too much of an entrepreneurial marketing orientation.
Keywords: market orientation; entrepreneurial orientation; entrepreneurial marketing orientation; small business growth; resource-based theory; emerging economies; Malaysia.
LaunchIt: A case study of entrepreneurship education
by Denise Cumberland, Whitney Peake, Sharon Kerrick, Mary Tapolsky
Abstract: This study evaluates the impact of a U.S. Midwestern Universitys 10-week entrepreneurship training programme on participants attitudes, knowledge gained, and level of satisfaction with the course. We used a pre/post-test quasi-experimental design and collected data from 43 participants in the Spring of 2019. The results showed that attendees increased their knowledge of key components of venture formation, improved their perceived behavioural control (PBC), and were highly satisfied with the programme. The findings contribute to the literature on entrepreneurship education.
Keywords: Entrepreneurship training programmes; Entrepreneurial education; Perceived behavioural control(PBC).
Strategic Business Model Canvassing for Terracotta Pottery Entrepreneurs in India
by Anupama Panghal, Shweta Dahiya, Shilpa Sindhu, Parveen Siwach, Bharat Dahiya
Abstract: The paper discusses strategic entrepreneurship vis-à-vis terracotta pottery production in Delhi, India. Pottery artisans face changing regulatory and market forces, which could result in a severe financial and technological burden on them. The study suggests strategies to protect this sustainable and traditional art of entrepreneurship. Present status of business of potters' community is examined using the business model canvas (BMC) and Porter's (2001) industry analysis and value chain model, and a new BMC is proposed. The strategies based on the new BMC are modelled through Decision-Making Trial and Evaluation Laboratory Technique (DEMATEL). To sustain entrepreneurship of terracotta art in India, the proposed strategies include stakeholders to focus on reducing production costs, conducting training and development, promoting product innovation, and exploring direct marketing channels and new customer segments.
Keywords: business model canvas; BMC; terracotta pottery; Porter’s industry analysis; strategic entrepreneurship; DEMATEL; India.
High-performance work practices and labour productivity: the contingent effect of family governance
by Frank Mullins, Pankaj C. Patel, Esra Memili, Veland Ramadani
Abstract: The purpose of this study is to investigate the effect of the family governance context on the relationship between high performance work practices (HPWPs) and labour productivity. This study uses cross-sectional data from the 2011 Workplace Employment Relations Survey on 193 UK establishments. Our findings demonstrate that firms with family governance have a stronger, positive HPWPs-labour productivity relationship compared to other firms. Furthermore, firm size matters as the effect of family governance strengthens this relationship as firm size increases. This paper contributes to the research on the contextual factors that determine the effectiveness of HPWPs by highlighting the role of the family governance context including its boundary conditions on the basis of firm size.
Keywords: High performance work practices; Labour productivity; Family firms; Firm size; Corporate governance.
Digital Microfinance Crowdfunding for Disconnected Women Entrepreneurs in India
by Endrit Kromidha, Nidhi Yadav, P. Vigneswara Ilavarasan
Abstract: This paper advances the knowledge on digital microfinance crowdfunding for women entrepreneurship and development by comparing environment and project factors in India. The empirical evidence is based on projects enacted by 626 poor and digitally disconnected women borrowers listed in Rang De, Indias first digital social enterprise platform for crowdfunding and microfinance. The findings show that, even when the borrowers are digitally and socially disconnected from their funders, success is more a result of environmental factors than of project-specific characteristics. This differs from what is suggested by developed country crowdfunding research in regard to the importance of proximity and direct links between borrowers and investors. The importance and gender-specific role played by intermediaries in relation to digitally disconnected borrowers is also acknowledged, driving more attention to gender equality and to the digital divide for access to finance.
Keywords: microfinance; women entrepreneurs; developing countries; access to finance; entrepreneurship networking; digital inclusion; India.
Prioritising the determinants entrepreneurial firms in the sustainable supply chain networks using fuzzy TOPSIS approach
by Mahtab Sherafati, Mahdi Bashiri, Piyya Rafi-Ul-Shan, Vahid Jafari-Sadeghi
Abstract: Entrepreneurial ventures play as key pillars in the supply chain networks. Therefore, through decision-making approach, this study aims to prioritise entrepreneurial firms in the supply chain and to select the ones that perform properly in the network. In this regard, three main criteria are taken into account: Surrounding environmental, Entrepreneurial firm capabilities and Individual entrepreneurial capabilities and characteristics; including several sub-criteria for each. As for the methodology, a fuzzy TOPSIS approach is used to prioritise entrepreneurial firms, which considers the ideal solution with linguistic weights. As such, a sample of 141 Australian firms has been taken from the Global Entrepreneurship Monitor (GEM) database. Our findings confirm that the proposed method for prioritising the determinants entrepreneurial firms lead to designing a sustainable supply chain.
Keywords: Prioritising; Entrepreneurial firms; Sustainable supply chain; Fuzzy TOSIS approach.
An Empirical Evidence of Structural Change in Production Parameters of MSMEs under Economic Reforms in India
by Akhilesh K. Sharma, Sushil K. Rai
Abstract: The purpose of this paper is to analyse the impact of economic reforms on structural change in production function of Micro, Small and Medium Enterprises (MSMEs) in India. The paper examines the effect of economic rerorms on parameters of production of MSMEs located in the eastern region of Uttar Pradesh, a province in India. This study is based on the analysis of primary data collected from small firms located in the region. It has used neutral and non-neutral technical change constant elasticity of substitution production function for the analysis. The results indicate that the efficiency of the production process has increased and MSMEs have become more independent and capital intensively during economic reforms. Further, the result shows that the value of the elasticity of substitution between factors of production decreases in non-neutral technical change while it has increased in neutral technical change under reform process. Finally, the study reveals that the production function is reflecting a negative return to scale and downsizing is the natural repercussion of the reform process.
Keywords: Economic reforms; MSMEs; Structural change; CES production function; Cross section data.
A Study of Women Successors in Multigenerational Family Firms and the Development of their Leadership Roles
by Jim Cater, Marilyn Young, Harold Doty
Abstract: Although significant interest exists concerning women in family firms, a well-defined picture of rntheir involvement in leadership is lacking. We examine the development of the leadership roles of rnwomen in a qualitative study of 19 multigenerational family firms in the U. S., using a grounded rntheory approach and the theoretical lens of the resource-based view of the firm. In-depth interviews rnrevealed four steps of leadership development: Next Generation Managers, TMT Executives, rnMatriarchs, and Dominant CEOs. We summarise our findings with seven propositions and a model rnof the development of the leadership roles of women successors in multigenerational family firms.
Keywords: family firm; family business; succession; successors; qualitative; leadership; development; qualitative; case study approach.
The Theoretical Basis of Relevant E-Entrepreneurship Results: A Systematic Literature Review
by Dhia Qasim, Ashraf Bany-Mohammed, Francisco Liñán
Abstract: The e-entrepreneurship field is a relatively novel one, suffering from a lack of theories and models, as researchers are deriving theories from other disciplines, such as economics, psychology, etc. To consolidate as a discipline, e-entrepreneurship studies need a systematic classification of previous and current contributions that can support the development of theories and research. The purpose of this study is to run a systematic literature review (SLR) to categorise the theories and models found from a total of 105 e-entrepreneurship publications over the period from 2008 to September 2020. A citation analysis has also been performed to identify 25 influential works that may be seen as foundational milestones in this field. The results revealed some critical research gaps and the need to develop new theoretical frameworks able to combine and extend the classical models of innovation, entrepreneurship, and technology to specifically tackle the e-entrepreneurship field of research.
Keywords: E-Entrepreneurship; E-Commerce Entrepreneurship; Systematic Literature Review; Citation Analysis.
A Review of SMEs Clusters and the Need for Cluster Branding in India
by Manmeet Bhamra, Kaushal Kishore, Sanjay Pal
Abstract: Small and Medium Enterprises (SMEs) are considered to be one of the main driving forces of economic development in emerging markets. SMEs in India have gained importance in the recent past due to globalisation and the constantly changing business environment. SMEs contribute a lot in economic development as it creates employment opportunities and supports the government in achieving higher growth rates. Additionally, it also helps an economy to do better in international trade. It is evident from the literature that significant work has been done on cluster management globally but not much work is done in the context of clusters in India with a focus on SMEs. Considering the importance of branding in almost every sector, authors tried to analyse the work done on cluster branding in India on SMEs through extensive literature review. The study is an endeavour to investigate the need and process of cluster branding to make SMEs clusters more efficient in India and the emerging markets.
Keywords: Small & Medium Sized Enterprises (SMEs); Cluster Brand Management; Branding Strategies; SMEs Clusters in India; Competitive Advantage; SMEs post Covid-2019. Role of Government in promoting SMEs; Strategic Collaboration.
A Study on the Entrepreneurial Opportunities, Indian and Global Economy in 3D Printing Sector
by Piramanayagam Sethu Ramalingam
Abstract: The main aim of the research was to explore all the opportunities, economic aspects, and challenges faced by various 3D printing industries, entrepreneurs, and consumers. 3D printing is a revolutionary digital production technique in Industry 4.0 that can transform the manufacturing sector to a new dimension and thereby creating a lot of opportunities and paved the way for economic growth both in the global and Indian industries. Moreover, the possibilities and availabilities of the 3D printing business opportunities for the entrepreneurs were studied based on their domain-specific areas such as application, manufacturing, programming, design, and development. In recent decades, most of the industries have focused on 3D printing technologies as it has arbitrary potential in all the sectors, single universal machine for producing intricate shapes and having online remote access. The present study also considered quick prototyping, fast manufacturing, along with the current novel methodologies in fabricating 3D elements. The advancements in 3D printing technology for various other industries like electrical industries in inventing receptors, circuit boards, etc. were deliberated. Thus the outcome of this specific study could be used to identify the entrepreneur company models in 3D printing and its business version by considering economic growth.
Keywords: 3D Printing;Entrepreneurship; Global and Indian Economy; Additive Manufacturing.
Cultural values and innovation in indigenous entrepreneurship: a case study from Indonesia
by Fikri Zul Fahmi, Nabilla Dina Adharina
Abstract: This study aims to identify the mechanisms through which cultural values affect innovation in indigenous entrepreneurship, particularly in Indonesia, situated in the Global South. We examine two cases of long-established hand weaving activities in Lombok, using qualitative research methods. Our findings show that cultural values reflecting high levels of integration among actors, commonly found in homogenous societies, act as social capital in promoting innovation by facilitating the transfer of new knowledge and encouraging collective learning among the economic actors. However, the entrepreneurs past time orientation and their embeddedness as evident in values such as preserving tradition and respecting collective existence restrains their ability to embrace change. We identify that their lack of future orientation prevents innovation through opening up new markets. However, this outlook encourages them to respond to current market trends.
Keywords: innovation; cultural value; indigenous entrepreneurship; Global South; Indonesia.
Role of entrepreneurship in social enterprises and master weaver enterprises: case of handloom weaving industry, India
by Manas Ranjan Bhowmik, Rajendra Narayan Paramanik
Abstract: Purpose of this article is to analyse the interface between institutions and entrepreneurship for small businesses within the informal manufacturing sector i.e., handloom weaving industry in India. Also comparing efficiency in different institutional settings within the same industry is another purpose. Through a primary survey data have been collected and a Data Envelopment Analysis has been applied in order to compare efficiency of different institutions within handloom weaving sector. From the theoretical and empirical analyses, it has been observed that weavers working under the master weaver institution is more efficient than weavers working under the cooperative institution. Entrepreneurial dynamism is a determining factor in explaining higher efficiency of master weaver institution in comparison to cooperatives.
Keywords: Informal Economy; Entrepreneurship; Handloom weaving; DEA; Efficiency; India; Cooperatives.
Providing conditions for the development of small business in the Russian agroindustry
by Gulnara Nigmatullina, Olga Shilkina, Elina Kipchakbaeva, Oksana Frolova, Guzel Salimova
Abstract: The paper considers the mechanism of state support for small agricultural businesses and its impact on the efficiency of agricultural production in different categories of farms, budget efficiency, the need and prospects for directing budget funds for the development of small businesses in agriculture. Farms are divided into groups depending on the marginal revenue. The efficiency of allocating budget funds of the consolidated budget is calculated. The paper describes an original approach to providing conditions for the long-term development of small businesses in agriculture. Small business development in agriculture must take into account not only the scale of production but the industry specifics as well that depends much on climatic conditions and soil fertility. These factors are of particular relevance for state support considerations and economic performance. The manuscript presents an analysis of subsidizing small businesses in the Russian Federation. The slowdown in economic growth requires additional funds into small agricultural enterprises having obvious prospects for development. The paper contributes much to further research on emerging markets. It can be valuable for players in the agricultural sector being subject to subsidy provision from the state.
Keywords: agribusiness; budget efficiency; cost-efficiency of agricultural production; state support for agriculture.
The Technological Incubators Program as a growth generator of peripheral areas in Israel
by Gil Cohen, Limor Yehuda, Sagit Barel-Shaked, Labib Shami, Arie Herscovici, Osnat Akirav
Abstract: In this research we examine the peripheral technological incubators program in Israel. Our aim is to learn what are the required structural and supporting conditions that may result in a substantial social economic environmental change of peripheral areas. Moreover, the existing literature examines different challenges that peripheral incubators face; nevertheless, they do not offer a holistic model that integrates those factors that will maximize the chances of a newly born technological venture to survive at early stages and thrive in later stages of its development. We used the value chain concept to frame such a model, arguing that the technological incubator must support and facilitate technological companies' path through the different stages of their evolutions to ensure their sustainability and maturity in the peripheral area. We interviewed CEOs of peripheral incubators, and used the peripheral town of Katzrin as a case study, in order to study the synergy and dependencies between the incubator and the region. We found that the main challenge of a peripheral incubator is to build an ecosystem that can support the newly born ventures during their development in the incubator and after they leave the incubator. That can be achieved by depending on local strategic partners to serve as mentors to the newly born companies, and by providing an access to scientific facilities in universities or hospitals.
Keywords: Technological Incubators; Periphery; Regional; Accelerators.
The role of educational institutions in combating educational unemployment and developing future entrepreneurs: Insights from Indian experts
by Jitendra Kumar Dixit, Dianne Welsh, Sucheta Agarwal, Veland Ramadani, Vivek Agrawal
Abstract: Industries across the globe are reporting a lack of skills among fresh graduates. When educated degree holders do not qualify for job opportunities, educated unemployment occurs. This study draws on the analytic hierarchy process (AHP) and technique for order of preference by similarity to ideal solution (TOPSIS) methods to identify and rank factors contributing to the role of educational institutions in driving educated unemployment. The findings indicate a misfit in the implementation and execution of academic programs by educational institutions, thus uncovering a need for a strategic blueprint.
Keywords: entrepreneurs; educational institutions; educated unemployment; entrepreneurial intentions; India.
What are the characteristics of a survivor? Evidence from bankruptcy analysis of newly formed Japanese SMEs
by Hong Xu
Abstract: We analyze the bankruptcy of newly created Japanese small and medium-sized entities (SMEs) from 2003 to 2011 by comparing various features with newly formed but surviving companies during the same period. First, we root our study in Penroses resource-based firm theory and Barneys sustained competitive advantage framework and follow prior SME research results (mainly Storeys small business) to identify the features of bankrupted SMEs in Japan. Then, we use t-tests and logit regression to verify the validity of these identified features. Finally, we use the verified features to build prediction models using machine learning techniques and test the prediction effects.
Keywords: small and medium-sized entities; SME; bankruptcy; newly formed firms; resource-based view theory; RBV; sustained competitive advantage framework; entrepreneur experience; machine learning; Japan.
The Impact of Social Media Use on Firm Performance: A Study of Egyptian Micro, Small and Medium Enterprises (MSMEs)
by Hadia FakhrElDin, Ahmed Ayman, Rania Miniesy
Abstract: Even though numerous studies have examined the effect of information technology on business operations, a few have addressed the effect caused by social media on micro, small and medium enterprises (MSMEs). This research attempts to fill this gap by focusing on the impact of social media use on the performance of MSMEs in Egypt, an emerging market in the Middle East, by adopting the technology acceptance model (TAM) and the task technology fit framework (TTF). Data is collected through self-assessment questionnaires conducted with a sample of 383 MSMEs in Cairo. The structural equation modeling technique is employed to analyse the data collected. The findings suggest that social media is crucial to the development of MSMEs due to its positive effect on their performance. This suggests that the ecosystem in countries like Egypt should be supportive of all measures that enhance the effective use of social media by small firms.
Keywords: Firm Performance; MSMEs; Social Media; Emerging Market; Technology Acceptance Model; Task Technology Fit Framework.
Multi-layered Entrepreneurship: Perspectives of Women Candidates for Mayor
by Osnat Akirav, Arie Herscovici, Limor Yehuda, Sagit Barel-Shaked, Labib Shami, Gil Cohen
Abstract: In the last two decades the number of women involved in politics locally and nationally has increased worldwide. In addition, researchers have begun to incorporate a gender perspective into all public policies so that they counter gender bias and produce gender equality in politics and society. In accordance with this new approach, we combined three research fields--womens entrepreneurship, their political ambition and gender mainstreaming. We argue that the mutual effect the research fields have creates a new way to define and operationalize entrepreneurship, which we call multi-layered entrepreneurship. To test our model, we conducted in-depth interviews with women candidates for mayor in various peripheral areas in Israel. We found that women define entrepreneurship in a more comprehensive and inclusive manner than men. While they have political ambition, their motives for entering politics differ somewhat from those of men. Finally, the effect of their political ambition on gender mainstreaming strengthens the need for a gender perspective in all public policies.
Keywords: Multi-layered entrepreneurship; women’s entrepreneurship; women political ambition; local government; gender mainstreaming; Galilee and South peripheries.
Profitability and market analysis of the piggery industry in the Prestea/Huni-valley municipality of Western Region, Ghana.
by Samuel Afotey Anang, Anthony Anning
Abstract: The study aimed at determining the profitability and market analysis of the piggery industry in the Prestea/Huni-valley municipality of Western Region, Ghana. Using purposive and snowball sampling methods, the study engaged 20 pig farmers and 130 pork consumers in the study area. Descriptive statistics and multiple regression analysis were employed to analyze the data. The study revealed that the piggery industry, which is highly dominated by male and small-scale farmers, is mostly undertaken by pensioners on full time basis. The industry was found to be profitable with 44% Gross Margin and Profitability Index of 1.05, but the industry is stifled with challenges such as feeding cost and availability of labour. Access to market was found not to be a challenge but farmers are to diversify their products, improve upon feeding and sanitation. Again, efforts by corporate bodies and government to subsidize input costs will make the industry more lucrative to create more jobs.
Keywords: Ghana; piggery; multiple regression; gross margin; breakeven analysis; profitability.
Corporate social responsibility, entrepreneurial motivation and integrative quality of life among Ghanaian small business owners
by Fanny Quagrainie, Murat Erogul, Alex Adom
Abstract: The study develops a model to examine the moderating influence of entrepreneurial motivation on the relationships between CSR initiatives and integrated quality of life. Employing a case study approach with mixed-method techniques, data is collected using questionnaires and interviews. Small business owners (SBO) engage in CSR initiatives but rejects the use of corporate to refer to such activities. The measurement model was a good fit for CSR initiatives, subjective and existential quality of life, while that of objective quality of life was rejected by the study. SBO should be considered by policy-makers when designing and developing interventions that concentrate on enhancing quality of life. The study operationalizes the extent and form of quality of life using CSR initiative and demonstrates how both entrepreneurial pull and push motivations interact to determine the effects on quality of life.
Keywords: small business owners; social capital; integrated quality of life; entrepreneurial motivation; Ghana.
Entrepreneurship and Economic Growth: Evidence from the 50 U.S. States
by Gibson Nene, Ariuna Taivan, Zheenhzheng Gao, Qianyu Zhang
Abstract: This paper examines the link between economic growth and entrepreneurship for each of the 50 U.S. states for the period 1988 to 2014. Results showed that entrepreneurship caused economic growth in 23 of the 50 U.S. states. Our findings also showed evidence of bi-directional causality in 13 states and that economic growth caused entrepreneurship in 7 states. In addition, the absence of a causal relationship between growth and entrepreneurship was recorded for 7 states. The existence of a relationship between entrepreneurship and economic growth is confirmed in 43 of the 50 U.S. states. Entrepreneurial activity is found to be an important driver of economic performance in 36 of the 50 U.S. states as shown by the entrepreneurship causing growth and bi-directional causality results. The findings also support the argument that the link between entrepreneurship and economic growth may vary within the same country. However, we do not find evidence that entrepreneurship only drives economic growth in wealthy states and not in poor states. Policy makers should invest more in programs tailored to attract and maintain entrepreneurial activity in their states to realise greater economic performance.
Keywords: U.S. states; Causality; Entrepreneurship; Economic growth.
Exploring Entrepreneurial Opportunity Recognition in Tourism: A Study of Cameroon
by Roland Atembe
Abstract: Although opportunity recognition is an important element of entrepreneurship, the research on patterns and factors influencing entrepreneurial opportunity recognition within the tourism sector remains scarce. Using a qualitative approach and narrative face-to-face interviews with tourism entrepreneurs in Cameroon, this study explores the factors that inspire the creation of tourism-related ventures. Due to the countrys high level of entrepreneurship, Cameroon was an ideal context for exploring opportunity recognition patterns. Also, Cameroons specific cultural aspects often cause its collectivist specificities to affect entrepreneurial intention even more than economic variables. The interviews in this study were captured and analysed using an inductive approach. Their results show that ethnic values, prior knowledge and experiences, experimental observations, socialisation and interaction, and social lifestyle are drivers of tourism entrepreneurial opportunity recognition. Other motivations including entrepreneurial intention and cultural and social transitions significantly contribute to tourism entrepreneurship. The paper proposes a framework aimed at enhancing a holistic understanding of opportunity recognition. It also generates new insights relevant for creating and operating ventures with high growth potential. The study furthermore provides implications for policy building and the development of a strategic framework for entrepreneurship development.
Keywords: Entrepreneurial Opportunity; Tourism Entrepreneurship; Opportunity Recognition; New Venture creation; Cameroon; Tourism Enterprise.
The perceptions of individuals aged 50 years and older towards engaging in entrepreneurial activities
by Reham Abdelhafiz ElTamimi, Nadia J. Sweis
Abstract: Aging population and the increasing of dependent ratio have attracted researchers to call for senior/older entrepreneurship as a late career alternative. This research aims to overview the perceptions of Jordanians aged 50+ years regarding entrepreneurial activities, and their effect on intentions to engage in these activities. This objective was achieved through analysing data for this group that was collected by Global Entrepreneurship Monitoring (GEM) for Jordan in 2004, 2009 and 2016 using descriptive, binary logistic regression and generalising a comparison across years. Results revealed that individual perceptions followed by socio-cultural perceptions have the strongest effect on seniors' intentions. Choosing entrepreneurship as a good career choice has been revealed to have the weakest effect between all types of perceptions across years. This study presents new framework that described the relation between perceptions and intentions. It also proposes two new terms of entrepreneurship: 'entrepreneurship the dream' and 'golden entrepreneurship'; and recommends applicable solutions to boost them in Jordan.
Keywords: entrepreneurship; perception; intention; unemployment; senior; older; active age; early retirement; demographical shifting; inclusivity; golden entrepreneurship; silver economy; Jordan; Arab countries; Global Entrepreneurship Monitoring; GEM.
Interplays between mother and entrepreneurial identities in the succession process: when mom is the founder and passes 'the baton'
by Francesca Maria Cesaroni, Amaya Erro-Garcés, Annalisa Sentuti
Abstract: This study aims to understand how women entrepreneurs involved in a succession process as incumbent manage their double identities of entrepreneur and mother, and how these two identities interplay. The paper also aims to reflect on the role of the father in a succession process where the founder is a mother. Two longitudinal case studies - from Italy and Spain - are analysed. In both cases, the main character is a woman who founded a business and recently passed the leadership to her children. Results show that these women were able to effectively manage their double identities with positive effects for the succession process. Moreover, while in a traditional succession process, with a father as founder, the mother acts as mediator between incumbent and successor, in our cases the need for a third actor to act as a mediator disappeared and the fathers had no role because a dyadic mother-children relationship emerged.
Keywords: succession process; women entrepreneurs; gender; identity; family business; entrepreneurship; mother-son succession; case studies; women owned family business; business transfer.
Community level impact of solar entrepreneurs in rural Odisha, India: the rise of women led solar energy-based enterprises
by Boidurjo Mukhopadhyay, Rodica Ianole
Abstract: Contemporary research in the area of renewable energy-based entrepreneurship has largely ignored studying the effects of women led solar businesses in a regional context, particularly rural areas. While there are studies recognising entrepreneurship as a key instrument in bringing in regional transformation and thereby development, very little insight has been provided to gain an understanding of solar entrepreneurship and its effect at regional levels. This research explores the community level impact of women led solar businesses by using an exploratory qualitative method and carrying out semi-structured interviews and participant observation on solar entrepreneurs in rural Odisha, India. The paper offers empirical analysis from discussions led by thematic analysis method that introduces the varied impact of women led solar entrepreneurship on rural Odisha and how that is evidently realised at various levels as well as time scales.
Keywords: solar entrepreneurs; renewable energy technologies; RETs; India; community empowerment; rural development; women entrepreneurs.
What determines self-employment profits? Evidence from India
by Bhaskar Jyoti Neog, Bimal Kishore Sahoo
Abstract: The present paper contributes to the limited literature on the factors affecting self-employment performance in the developing country context of India. The study uses the India Human Development Survey (IHDS) panel data for the years 2004-2005 and 2011-2012. The study employs ordinary least squares (OLS) regression to analyse the determinants of profitability, making efforts to correct for potential endogeneity and selection bias in the earnings function. Attempts to correct for endogeneity are made using the instrumental variables method as well as using lag values of potentially endogenous variables in the earnings model. The findings point towards a significant influence of role models, capital constraints, human capital and the market environment on firm performance. However, social networks are not found to influence firm profitability significantly. Further, earnings are found to be significantly lower for female-headed firms and firms owned by socially-marginalised groups.
Keywords: self-employment; profits; endogeneity; human capital; social networks; credit constraints; caste; gender.
Strategic orientations, hypercompetitive environment, and entrepreneurial alertness of small firms: evidence from the central region of Mexico
by Héctor Montiel-Campos
Abstract: Entrepreneurial alertness (EA) is an essential concept in entrepreneurial opportunities research. However, there is relatively little empirical evidence on its precursors. This study examines entrepreneurial orientation (EO) as a precursor to EA in small firms and the moderating influence of market orientation (MO) on that relationship. The study hypothesises that a hypercompetitive environment moderates the complementary effects of EO and MO on EA. The theoretically developed research model is tested using the survey data of 135 small manufacturing firms from the central region of Mexico. The results support a positive influence of EO on the components of EA concerning scanning and search, as well as evaluation and judgment, and indicate that the influence is stronger when MO is included under the conditions of a hypercompetitive environment. Interestingly, EO and MO do not positively influence the association and connection component of EA unless a hypercompetitive environment is present.
Keywords: entrepreneurial orientation; market orientation; hypercompetitive environment; entrepreneurial alertness; small firms.
Special Issue on: INEKA 2019 Knowledge, Small Businesses and Entrepreneurship in a Cross-Cultural Context Economies and Sustainability as Future Challenges
by Ieva Zebryte, Martha Ramírez Valdivia, Jaime Bustos Gomez
Abstract: To develop resilient business models, entrepreneurs who operate in an emerging economy tourist destination under continuous threat of natural disasters would benefit from knowledge attained by practical experience as well as by academic research. The aim of this study is to examine how the application of this knowledge can bolster business resilience. We draw on current empirical literature in the areas of business and tourism resilience to identify the scope of actionable design interventions. Eighteen years (20002018) of tourism and business resilience research were reviewed by a panel of experts to identify reoccurring topics, issues and problems. Following a thematic analysis, these topics were organised into business model canvas (BMC) blocks. We answer the question of how knowledge may be generated to aid the decision-making by tourism entrepreneurs of emerging economies whose businesses are disrupted by natural disaster events. Our contribution is simultaneously to academia and management through the conceptualisation of the BMC as an entrepreneurial knowledge management tool and as a framework for resilient business design.
Keywords: business model canvas; business resilience; natural disasters; actionable design interventions; emerging economy.
Born to be successful: Start-up patenting activity determinants
by Simona Leonelli, Francesca Masciarelli
Abstract: Patenting is fundamental to start-up survival and growth. Research indicates that patenting enables start-ups to protect their ideas from competitors, profit from their inventions, and signal their value to stakeholders. Drawing on the resource-based theory, the paper shows that start-ups patenting activity is related to both external and internal conditions. Relying on a sample consisting of 195 start-ups, located in Italy and France, the market scenario, that is, market dynamism and concentration, is found to affect start-ups patenting activity. Also, the paper shows that start-ups age is negatively related to patenting, and that entrepreneur narcissism has different impacts based on its prevailing characteristics: entitlement/exploitativeness is positively related to patenting, grandiose exhibitionism is negatively related to it, while leadership/authority shows no connection with this activity.
Keywords: start-up patenting activity; market scenarios; start-up age; entrepreneur narcissism.
Micro, Small, and Medium Enterprises in Emerging Economies and Economic Transition: A comparative study between Indonesia and Hungary
by Johan Tumiwa, Adrián Nagy
Abstract: It is necessary to foster and strengthen micro, small, and medium enterprises (MSMEs) to enhance their growth and develop them as strong, resilient, efficient, and independent contributors to the national economy. The purpose of this study is to analyse and compare the influence of MSME growth on the economic growth of an emerging economy (Indonesia) and an economy in transition (Hungary). This study uses secondary data, which are transformed into logarithms. Based on panel data regression analysis, this research finds that there is a significant influence of MSMEs and employment on economic growth in both countries. In the Hungary regression model, the MSME variable has a partial negative influence on economic growth due to political and economic influences. This study has two recommendations. First, Hungarian and Indonesian government interventions are needed to develop MSMEs. Second, the Indonesian government should reduce energy subsidies.
Keywords: employment; economic growth; MSMEs development; emerging market economies; economic transition.
Family involvement and financial performance in SMEs: evidence from Italy
by Paolo Roffia
Abstract: The aim of this study is to provide new evidence on the relationship between family involvement and financial performance in small- and medium-sized enterprises (SMEs). We analysed the effects of family involvement in ownership and in the board of directors (BoD) for 214 Italian SMEs. Using an ordinary least squares (OLS) regression model with time-period and industry-fixed effects and lagged financial data over a four-year period (2014-2017), we found a statistically significant U-shaped relationship between family ownership and return on assets (ROA) ratio. Contrary to our expectations, the relationship between family involvement in the BoD and profitability was negative. These results suggest that family involvement in firms may have both positive and negative effects on financial performance depending on the thresholds considered. We also found a few other contextual variables related to company structure that influenced SME financial performance.
Keywords: SMEs; family firms; family involvement; generational change; ROA ratio; financial performance; Italy.
Entrepreneurs time perspective: Attitude to adversities, opportunities and self-confidence
by Ekaterina Zabelina, Diana Tsiring, Veronika Artemeva
Abstract: In the age of information technologies and expansion of data flows, a notable increase in the speed of subjectively perceived time is evident. It is obvious that entrepreneurs, as a group that is most sensitive to social changes, can experience these changes in a special way. The present research aims to identify whether there are peculiarities of entrepreneurs time perspective and what these peculiarities are. Using the Zimbardo Time Perspective Inventory, indicators of entrepreneurs and employees time perspective were measured (N=399). Contrary to the expectations, entrepreneurs are not significantly future-oriented, while also being less fixated on negative things from the past and reflecting on previous mistakes. They are more confident in their abilities than hired employees; they tend to rely on themselves rather than on external circumstances or people, reference groups, the state, etc. Understanding the differences in time perspective of entrepreneurs vs. hired employees (civil servants, school teachers, IT specialists) broadens the concept of personal resources and psychological mechanisms of entrepreneurial behaviour.
Keywords: Time perspective; · Past Negative; Present Hedonistic; · Present Fatalistic; Entrepreneurship; · Entrepreneur; Hired employee; Career choice; Russia.
Reality check: Changes in business students psychological resources as they move towards graduation
by William Tullar, Dianne H.B. Welsh
Abstract: This study reports an examination of the trajectory of motivation over the course of business education. Business education is supposed to equip students with the positive psychological resources so that they can succeed in a turbulent, ever-changing business world. Most business school programs focus on the development of skills such as communication skills, critical thinking, quantitative skills, use of technology, and functional knowledge. They leave out training that affects students motivation to succeed in business. This study utilized PsyCap in a study of students (N = 1062) at different stages of their program of study in a medium-sized southeastern university in the U. S. Comparisons of freshmen vs seniors showed a surprising difference: freshman scored higher on four out of five PsyCap dimensions than did the seniors in an internship program. Moreover, freshmen followed for two years show significant drops in Need for Achievement and Need for Feedback (N = 214). While the freshman/senior result is counter-intuitive, it is reasonable that when students go from the classroom to confronting the real world, doubt sets in. To counter lowered motivation, business schools should be exploring the implementation of training interventions such as that proposed by Luthans, Luthans, & Avey (2012. Other researchers should replicate this study with their own students - - if it is widespread, it has profound implications for business education. The limitations of this study are that it is not based on following individuals over four years and that it is a sample from one university. Suggestions for further research are discussed.
Keywords: Business School Students; Psychological Capital; Need for Achievement; Need for Feedback.
Entrepreneurship and gender: whats behavioural profiles got to do with it?
by Roberto Coda, Davi De França Berne, Patricia V. Krakauer, Gustavo S. Moraes
Abstract: The study investigates managerial profiles of men and women entrepreneurs in micro and small businesses in S
Keywords: behavioural profiles; small businesses; entrepreneurship; gender; leadership; competences.
Government Financial Support: Does it Improve the Performance of Small and Medium - Sized Enterprises in Lithuania?
by Liucija Birskyte, Dovile Mingelaite
Abstract: This article explores the impact of government financial support on the financial performance and other indicators of small businesses in Lithuania. To achieve the objective of the paper both survey method and statistical analysis are used. Research results provide evidence that there exists a statistically significant relationship between the magnitude of financial support and the financial indicators of SMEs. The impact of financial support on business performance in selected areas is stronger with an increase in the size of SMEs. This paper contributes to a better understanding of what kind of financial support and what features of aid recipients make the financial support more effective in the context of Lithuanias specific business and institutional environment.
Keywords: small and medium-sized enterprises; government financial support; financial performance; Lithuania.
Special Issue on: Business Transfers An Opportunity for Dialogue between Entrepreneurship and Family Business Research
by Catherine Thévenard-Puthod, Bérangère Deschamps
Abstract: The aim of this article is to improve understanding of the support needs of female successors: What kinds of support do they need during the succession process? From whom can they get it? Based on the analysis of 13 cases of business transfer to female successors, our results first show the variety of supports that are solicited by women in order to meet their needs. While we underline the useful role of professional support networks, our results also highlight the more fundamental role of some family members, and more specifically the importance of the spouse in the success of the entrepreneurial project. In a more general perspective, our results emphasize the role of male characters (husband, father, male co-associate) in the success of female successors, especially in male-dominated industries. A masculine presence enables female successors to acquire the necessary legitimacy.
Keywords: female successor; women entrepreneurs; business transfer; succession; entrepreneurial support.
Impact of business transfer on economic performance: The case of Italian family farms
by Danilo Bertoni, Daniele Cavicchioli, Laure Latruffe
Abstract: The impact of business transfer on family business performance is widely explored in the literature, but is neglected for agriculture although family farms are key players in the economy. We investigate whether the succession changes the economic performance of family firms for Italian family farms during the period 20082014. Our results show that succession on these family businesses has a negative effect on their economic performance related to capital, due to an increase in capital after succession. A policy implication is that support for investments of farm new entrants should be improved.
Keywords: family business; succession; economic performance; propensity score matching; Italian farms.
Special Issue on: Cultural and Creative Industries
by Mayer Cabrera-Flores, Creta Cota-Cota, Sialia Mellink-Méndez, Alicia Leon-Pozo
Abstract: This paper offers an initial approach to innovation analysis through label design in two products emblematic of Baja California: wine and craft beer. The study was prompted by the boom that both industries have experienced in recent years in the region, and focuses on the innovation diffusion link of Hansen and Birkinshaws (2007) model. In the model, this link is directly associated with product commercialization processes and strategies, which in the 2006 Oslo Manual corresponds to marketing innovation. To that end, an instrument was developed, validated by experts in graphic design, and used to analyze various features to estimate the degree of innovation in labels. These features include the types of materials used, presentation of information, visual design, and persuasiveness through purchase intention. The instrument served as a basis to evaluate a series of regional wine and craft beer labels, using focus groups for data collection. The relevance of this study lies in generating knowledge on stimulating and managing creative and innovation processes within the wine and craft beer industry in Baja California, through product branding with a focus on label design, and determining whether innovation in labeling contributes to influencing brand perception and purchase intention among customers.
Keywords: Labelling innovation; wine industry; craft beer; cultural and creative industry; marketing.
Special Issue on: ESU 2018 Fostering European Entrepreneurship Research through a Human Action Perspective
by Gustav Hägg
Abstract: The aim of this study is to analyse how the study group method aids student entrepreneurs when developing entrepreneurial knowledge through the experiential learning process, and why it is important to stimulate peer learning in an experiential entrepreneurship education context. Due to a more experiential perspective on learning, the environment in which students learn, what students learn and why students learn has changed, which creates new learning arenas that must be understood in order to advance our research on instructional methods in entrepreneurship education. This study analyses cooperative learning and provides insights on how it could be used as an instructional method in entrepreneurship education. The study addresses how different study groups create fruitful debates and discussions among students that provide arenas for developing self-awareness, equality toward peers and a space for sharing experiences bound to the entrepreneurial project. The sharing space creates a form of togetherness among students in the often lonely process that entrepreneurs face.
Keywords: Collaborative learning; communicative learning; experiential entrepreneurship education; peer learning; researcher reflexivity; thematic analysis.
Why does she start up? The role of personal values in womens entrepreneurial intentions
by Esther Hormiga, Inmaculada Jaen
Abstract: This paper aims at shedding light on the role of personal values in the formation of womens entrepreneurial intentions (EIs). This should help explain whether (and why) women interpret the (entrepreneurial) reality around them differently from the way men do. To do so, this paper follows the theory of planned behaviour (TPB), combined with Schwartzs values theory. The model is then tested on a sample of 2923 highly-educated individuals from Spain. The results confirm the importance of value priorities in determining the EI, even after controlling for their motivational antecedents (as the TPB states). They also show that average value priorities are different both between women and men and between high- and low-intention women. The results are compatible with a post-structural feminist perspective. Therefore, the convenience of promoting a more gender-neutral entrepreneurship stereotype is highlighted.
Keywords: gender; personal values; entrepreneurial intention; entrepreneurship stereotypes.
Defining the Entrepreneurial Mindset and Discussing its Distinctiveness in Entrepreneurship Research
by Dagmar Ylva Hattenberg, Olga Belousova, Aard J. Groen
Abstract: The entrepreneurial mindset (EMS) is an emerging concept within entrepreneurship research, but has yet to reveal its full potential. Its current understanding is still fragmented and intertwined with other concepts. The purpose of this paper is to develop a theoretically informed definition of EMS that is descriptively robust and conceptually distinct from other concepts. By analysing definitions and comparing EMS to other established entrepreneurship concepts we argue that EMS captures both the developmental (ability) and the volitional (willingness) aspects that allow an individual to sense and seize an opportunity. It is the combination of these two aspects that makes EMS unique and distinct from other concepts. We ultimately propose future research steps to advance the understanding of this important phenomenon across multiple contexts.
Keywords: Entrepreneurial mindset | Entrepreneurship | Willingness | Ability | Comparative analysis | Human action perspective.
Intended entrepreneurs commitment: a new perspective on the mind-sets, antecedents and outcomes
by Anne-Flore Adam, Laëtitia Gabay-Mariani
Abstract: Although intention models are widely used in entrepreneurship, their volitional part has been understudied and there is still a missing link between entrepreneurial intention and behaviour. Commitment has been mentioned as a key factor in this relationship but its role in the entrepreneurial process had never been studied further. Drawing on the organizational commitment literature and on a longitudinal study on nascent entrepreneurs, this article proposes four mind-sets of intended entrepreneurs commitment: affective, continuance (based on sunk costs or based on the lack of alternatives) and normative. It proposes a model of antecedents and expected behavioural consequences of these mind-sets.
Keywords: Entrepreneurial process; entrepreneur commitment; entrepreneurial intention-behaviour gap; entrepreneurial mind-sets.
Special Issue on: ESU 2019 Entrepreneurship Research in Europe Hot Topics and Methodological Challenges
by Kingsley Njoku, Thomas Cooney
Abstract: This study examined how the entrepreneurial opportunity formation process among different ethnic groups was influenced by their origins and the cultural values accustomed to them. Using a qualitative phenomenological approach, data was collected from 20 participants (five each from four different ethnic groups) using an in-depth interview technique. The study found that the interactions between an immigrants home and host environments can take different forms (i.e., enablers and threats) which will influence their career choices in diverse ways. The study model framework showed that participants are influenced distinctly subject to their ethnic backgrounds and the nature of their interactions with the families.
Keywords: immigrant entrepreneurship; entrepreneurial opportunity formation; visual mixed embeddedness framework; cultural assimilation.
A breath of fresh air Social Cognitive Career Theory in studying entrepreneurial intentions
by Magdalena Licznerska, Pawel Ziemianski
Abstract: A pinch of robustness and a pinch of freshness create an interesting story. That is why this study focuses on entrepreneurial intentions from an alternative theoretical perspective in an underexplored context. In this paper, it is argued that social cognitive career theory is relevant to the study of individual entrepreneurial cognition and behaviour, and it offers a solid framework in entrepreneurship research. This paper expands on SCCTs conceptualisation of environmental determinants, proposing the examination of how a new combination of contextual factors (perceived educational, relational and structural support), entrepreneurial self-efficacy, individual entrepreneurial orientation and negative outcome expectations are related to entrepreneurial intentions. For this exploratory study, a questionnaire completed by a sample of students from Poland, one of the Central and Eastern European countries, was employed. Hierarchical multiple regression analyses revealed support for the role of SCCT variables in predicting entrepreneurial intentions. The results, which offer direct useful indications for further research activities, are presented and discussed.
Keywords: entrepreneurial intentions; individual entrepreneurial orientation; entrepreneurial support; social cognitive career theory (SCCT).
Exploring the collective dimension of agricultural entrepreneurship: the case of a wine cooperative in Italy
by Antonella Garofano
Abstract: To date, a limited contribution has been given to the contextualization of entrepreneurship in agriculture. Furthermore, existing studies on the sector mainly focused on individual farmers skills and characteristics. Therefore, more research seems needed to investigate agricultural entrepreneurship within collective-owned firms, such as cooperatives. Based on these assumptions, this work aims at 1) exploring the collective dimension of agricultural entrepreneurship; 2) providing a more nuanced perspective on how entrepreneurial opportunities are identified and pursued at the two distinct but interweaving levels of cooperative organization, namely jointly-owned firm and owners-members. The paper focuses on the in-depth longitudinal case-study of a wine cooperative in the south of Italy with 1,000 members. Insights on how agricultural cooperatives may support small farmers and the whole territorial community are provided.
Keywords: Agricultural entrepreneurship; collective entrepreneurship; wine cooperatives; farmers; Italy; innovation; sustainable development; case-study research.
Entrepreneurial Scales in the Italian Academia Context: A Comparison between University Spin-Offs and High-Tech Start-Ups
by Michela Cesarina Mason, Adriano Paggiaro, Gioele Zamparo, Franscesca Visintin
Abstract: The present study, through a cross-sectional comparison, focuses on three well-known constructs in the entrepreneurial literature, namely entrepreneurial identity (EI), entrepreneurial bricolage (EB) and entrepreneurial orientation (EO), to assess their potential use in studies concerning USOs. The current analysis wants to contribute to the research field by pushing forward the theoretical understanding of entrepreneurial dynamics in academic spin-offs and, besides ensuring the reliability of results in survey research on USOs by validating the scales of the aforementioned constructs, provides new insights into the relationship between EI, EB and EO and the subjective performance of Italian USOs. To achieve these purposes, we draw on a robust national random sample of 233 Italian USOs and 267 Italian high-tech start-ups (HTSs), which were used as a control group.
Keywords: entrepreneurial orientation; entrepreneurial bricolage; entrepreneurial identity; university spin-off; academic entrepreneurship; scales validation.
Enactment of Entrepreneurial Intention: Is Gender Egalitarianism a Facilitator or an Inhibitor?
by Chiara Cannavale, Lorenza Claudio, Giorgia Rivieccio, Iman Zohoorian Nadali
Abstract: This study seeks to respond to this question: How does gender egalitarianism (GE) affect the enactment of entrepreneurial intentions? It refers to the TPB, and analyse the effects of GE on the impact of intention on activity. For doing so, it applies a quantitative approach employing data from GEM and GLOBE at country level. Findings show that GE value moderates in nonlinear way the effects of entrepreneurial intentions on activities, and that GE value has also a curvilinear effect on entrepreneurial activity, while GE practice does not show any moderating role, both linear and nonlinear, in such relationship. All the relationships were controlled for country level variables.
Keywords: Entrepreneurial Intention; Entrepreneurial Activity; Entrepreneurship; TPB; culture; values; behaviour; GEM; GLOBE; Gender Egalitarianism.
Special Issue on: IFC 10 Risk in Investment and Financing Decisions
by B.E.N. BOUHENI FATEN
Abstract: We investigate the effects of regulation and supervision on the banking performance of the ten largest banks from selected European countries during the period of 2005-2011 using the Generalized Method of Moments (GMM) for a dynamic panel. Our results provide two major findings. First, with regard to influencing factors, regulation and supervision perform differently. In particular, restrictions on banking activities, supervision, deposit insurance and private monitoring have different impacts on banking performance, depending on the indicators of profitability and risk taking. Capital requirements decrease banking profitability, but the market structure boosts Return On Equity (ROE). Second, neglecting the influencing factors, we find that restrictions on banking activities, supervision, private monitoring and market structure increase profitability and reduce risk taking by European banks. We conclude that for the successful implementation of banking regulation and supervision, it is crucial to consider bank-level and country-level factors. In addition, the effect of regulation and supervision on banking performance is conditioned by the improvement of banking governance in Europe.
Keywords: Regulation; Supervision; Profitability; Risk taking ; Dynamic panel data; European banks.
Special Issue on: IFC 11 Issues in Investment and Financing Decisions
by Achouak Barguellil
Abstract: The purpose of this paper is to examine the determinants of emigrant remittances by highlighting the impact of asymmetric exchange rate volatility. We have estimated an asymmetric ARDL-PMG panel model on a sample of MENA countries observed over the period 1980-2017. The results of the ARDL-PMG nonlinear model estimates indicate that, in the long run, economic growth and fixed capital accumulation both have a significant upward impact on emigrant remittances. The incorporation of the exchange rate asymmetry assumption suggests a positive and significant effect only for downward movements in the exchange rate. The impact of exchange rate fluctuations on emigrant remittances is significant only for negative changes.
Keywords: Remittances; exchange rate volatility; asymmetric nonlinear ARD; panel model.
Banks Capital Buffer, Profitability and Risk of Failure: The Effect of Regulation, Supervision and the Business Cycle
by Hassan OBEID, Faten Ben Bouheni, Elena Margarint
Abstract: In this article, we apply the GMM technique on dynamic panels, using both bank-level data and country-level data for the three largest European economies (Germany, the U.K. and France) during the period 20052013 to investigate the impact of regulation, supervision and the business cycle on capital buffers, banking profitability and the risk of failure. Our results provide three major findings. First, the regulation indicators have a negative impact on bank profitability. When the supervisory authority imposes restrictions on banking activities, managers become more risk-averse, the banks risk-taking decreases and, as a consequence, profitability decreases. Second, the measures adopted by the Basel Committee on Banking Supervision (the Basel III Accord) regarding the management of capital buffers over the business cycle are very important in order to fortify the banking systems stability. Third, regulation and supervision perform differently, depending on the indicators of profitability and the risk of failure.
Keywords: Capital Buffer; Profitability; Risk of Failure; Business Cycle; Regulation; Supervision Dynamic Panel.
Special Issue on: Is Small Beautiful in the Alcohol Sector?
by L. Martin Cloutier, Laurent Renard, Sebastien Arcand
Abstract: The objective of this paper is to better understand the collective strategic action conceptualisation by craft microdistillers in Quebec, at the emerging phase of the sector, using group concept mapping (GCM). The estimated concept map displays action clusters regarding: Communications; Promotion and Branding; Institutional Partnerships and Collaborations; Market Development; Barriers to Entry; Collective Vision and Values; Quality Development; and Industry Development and Support. The contribution of the paper is threefold: methodological, empirical, and practical. Methodologically, results are spatially distributed estimates of agreement levels among craft microdistillers regarding their conceptual representations which exhibit underlying systemic tensions and cohesion. Empirically, results provide perception measures of the relative importance and feasibility of the action set to be undertaken by craft microdistillers. Practically, results are used to articulate the potential evolution and impact of actions using the resource-based-view of the firm and dynamic capabilities notions as interpretative lenses. This contribution fills a void regarding entrepreneurial conceptualisations related to collective representations and perceptions of the entrepreneurial action set in emerging associations of alcohol producers whether spirits, wine, beer or cider, and in entrepreneurship and small business management research more generally, as they are seldom examined at the nascent phase of a sector.
Keywords: craft distillers; group concept mapping; GCM; entrepreneurial action; collective action; dynamic capabilities; resource-based view; RBV; nascent industry; entrepreneurship; alcoholic beverages.
Grape Varieties: Is specialisation beautiful in the wine sector?
by Eric Le Fur, Jean-François Outreville
Abstract: The objective of the paper is to investigate whether the grape varieties most used in national production affect the export performance. We examine this relationship over the period 1995-2016. The analysis is based on a sample of 38 wine exporting countries. We use the Data Envelopment Analysis (DEA) to compute the efficiency of wine exports if the market structure of grape varieties is an input decision unit. Our results show that only a few countries are efficient. The three largest exporters, France, Italy and Spain, are efficient and adopt a strategy of diversification with a relatively small share of their most planted varieties in the national production. Some New World countries (Argentina, Portugal, South Africa, United States) and the Old World (Germany) adopt the same strategy. Australia and Chile are also efficient but adopt a strategy based on a small number of grape varieties as well as a large share of the national production made with a few grape varieties. The implications for the wine industry are then discussed.
Keywords: DEA analysis; export performance; market structure; wine industry.
The dynamics of direct selling for wine-growing farms
by Magali Aubert, Geoffroy Enjolras
Abstract: Direct selling is a marketing strategy that is developing quickly, especially in the wine-growing sector. While many studies have focused on the factors and strategies leading to the adoption of short food supply chains, this study aims to study the dynamics and sustainability over time of direct selling as adopted by wine-growing farms. The data examined relates to French farms within the Farm Accountancy Data Network (FADN) operating continuously over the period 2006 to 2012. The analysis calls on a two-step Heckman selection model that considers the duration of the direct selling adoption, conditioned by the farmers initial decision to adopt such marketing strategy or not. The results emphasise the fact that size is a key factor driving the conversion to direct selling. This marketing channel is chosen by wine- growing farms keen to increase their acreage but to decrease their economic and financial size, as well as their use of phytosanitary products. These results reflect the emergence of a specific model of small wine-growing farms centred on the adoption of direct selling.
Keywords: direct selling; wine-growing; farm size; Heckman; France.
Sparkling wines future in the USA: Insights from the industry
by Olivier Gergaud, Eugenio Pomarici, Riccardo Vecchio
Abstract: The current study analyses the growth potential of four different sparkling wines (California sparkling, Cava, Champagne and Prosecco) in the US market based on the views and judgment of a large sample of 843 trade actors. Findings of an online survey suggest that sparkling wines coming from Italy (Prosecco), Spain (Cava) and California have higher growth potentials than wines produced in the Champagne region of France. This is in line with the fact that Champagne wines are sold at very high prices internationally for historical reasons (monopoly power, first-mover advantage, well-established large brands). Furthermore, results suggest that a good price/quality ratio, positive wine critics, the fact that new consumers are choosing this wine are associated with higher estimated growth potentials by traders. Managerial implications for small and medium businesses are presented and critically discussed. We also analyse our results in the light of the new legislation on US imports that was adopted in October 2019 and that will hit Cava wines only.
Keywords: Sparkling wines; US markets; Traders; Growth potential.
Do wine judges give higher scores to wines made with less-known grape varieties?
by Florine Livat, Hervé Remaud
Abstract: In this study, we consider the extent to which wine judges score wines based on various attributes region of origin, colour, still versus sparkling, and so on with a focus on grape variety. Wine judges tend to score wines made with less-known varieties higher because they are less exposed to them. We analyse 27,470 wines from the 2013 to 2016 International Wine and Spirit Competitions. On average, wines made from the top 10 varietal grapes are graded lower than wines made from other, less frequently used grapes. Wines of the new world and those produced under a certification of origin rule are given more positive scores. Wine producers should focus on creating wine from less-known grape varieties to increase their chances of getting a higher score (and medal). Consciously or not, wine judges tend to incentivize wine amateurs and buyers to discover less mainstream wines.
Keywords: Wine judge; wine score; International Wine and Spirit Competition (IWSC); grape varieties.