International Journal of Entrepreneurial Venturing (6 papers in press)

Regular Issues

• Digital due diligence activities and goal setting in equity crowdfunding: exploring the differences between novice and experienced investors  
  by Frederik J. Riar, Christoph Hienerth, Morten Berg Jensen 
  Abstract: Investor background can have major implications for decision-making processes in start-up financing. We investigate the differences between novice and experienced investors in equity crowdfunding. To date, empirical information about the specifics of these investor types in the crowdfunding literature is limited, as most studies do not investigate the micro level, i.e. the actions and decisions of individuals. Our empirical results, based on data from a major European equity crowdfunding platform, show similarities but also clear differences among the different types of investors with regard to information search, communication, signaling effects, and investment motives. The insights of our study contribute to the crowdfunding literature by developing a better understanding of crowd investor types active in crowdfunding. Moreover, our findings specifically contribute to research on information assembly, communication, signaling, and investment motives in equity crowdfunding.
  Keywords: Crowdfunding; investor types; due diligence; decision-making; entrepreneurship.
  DOI: 10.1504/IJEV.2021.10031735
   
  
• It wasn’t me: entrepreneurial failure attribution and learning from failure  
  by Frederik J. Riar, Peter M. Bican, Jannes Fischer 
  Abstract: Can entrepreneurs learn from failure? Using frameworks from attribution theory, we draw on unique qualitative data from entrepreneurs who had experienced failure before re-engaging in entrepreneurial activities. We find that the direction of failure attribution, as either attributed to external or internal causes, affects learning from failure differently and propose that while an excessive focus on self-attribution may harm future prospects of entrepreneurial activity, over-attributing failure to external causes might possibly hinder positive returns from learning from failure. Moreover, external and internal aspects influence how entrepreneurs learn from previously failed ventures. Failure shall not be romanticized, as it entails profound consequences for attribution and its effects on learning. Implications for research on failure, learning from failure, and attribution theory, as well as implications for practice are further discussed. Propositions for future research endeavors are derived.
  Keywords: entrepreneurial failure; attribution; learning from failure; entrepreneurship.
  DOI: 10.1504/IJEV.2021.10032452
   
  
• The Link between Interpersonal and Interorganizational Networking: the Role of Start-Up Members’ Achievement-related Affect  
  by Aristides Ferreira, Maria Beatriz Esperança, Ana Catarina Leal, Timo Braun 
  Abstract: This research examined the effect of start-up members’ achievement-related affect on the link between interpersonal and interorganizational relationships (IORs). A sample of 469 employees from 135 German and 65 Portuguese start-ups (questionnaires) and a sample of 19 staff members of different Portuguese start-ups (interviews) participated in the current study. The regression results for the moderation model show that, for higher levels of achievement-related affect, interpersonal network building has a significant positive correlation with their perceived importance of IORs with non-investor stakeholders. Moreover, the indirect effect between interpersonal network maintenance and perceived importance of IORs was mediated by start-up members’ achievement-related affect. This research sought to contribute to the interpersonal and interorganizational networking literatures. Findings suggest that motivations of achievement-related affect play a moderator or mediator role depending on the different profiles of the stakeholders (investors vs. non-investors).
  Keywords: Start-ups; achievement-related affect; entrepreneurial networking; interpersonal networking; interorganizational relationships.
  DOI: 10.1504/IJEV.2021.10033796
   
  
• COWORKING SPACES: PLACES THAT STIMULATE SOCIAL CAPITAL FOR ENTREPRENEURS  
  by Victor Cabral 
  Abstract: This study examines how social networking facilitated by coworking spaces help entrepreneurs. Drawing on previous research in the different social science disciplines, a conceptual model is proposed that links coworking space interventions to social capital, and performance benefits. The model distinguishes three coworking interventions, i.e. design of the physical space, facilitative tools, and community management. Furthermore, the model differentiates bridging and bonding social capital. Nineteen interviews were conducted with entrepreneurs who work in three coworking spaces. The findings confirm the relationship between coworking space interventions, bridging and bonding social capital, and performance benefits. Theoretically, this study contributes in developing further knowledge about the increasing social value of coworking spaces. Managerially, this study highlights how the curation of collaborative workspaces can help promoting social capital as well as better conditions for individuals who seek to work in social environments.
  Keywords: Bridging social capital; Bonding social capital; Social networks; Coworking spaces; Performance.
  DOI: 10.1504/IJEV.2021.10034208
   
  
• Suspense: exploring a new lens for outcome uncertainty in entrepreneurship  
  by Chihmao Hsieh 
  Abstract: In entrepreneurship, we hear about the value of
  Keywords: suspense; emotion; beliefs; arousal; entropy; schemas.
  DOI: 10.1504/IJEV.2021.10034211
   
  
• Double Jeopardy: Striving for Dual Legitimacy in Russian Family Firms  
  by Alexander Lascaux, Irina Kolesnikova, Veronika Kotsoyeva 
  Abstract: Family firms’ long-term capacity to survive and grow is premised on their legitimacy in the eyes of principal stakeholder groups. Drawing on the findings from the interviews with owners/managers of Russian family ventures, we suggest a multilevel concept of the family firm legitimation activities in adverse institutional settings. Due to a constellation of structural and cultural factors, family firms in Russia are simultaneously induced to achieve professional legitimacy in their relationships with immediate stakeholders and institutional legitimacy in their interactions with broader societal norms and beliefs. We extend the institutional theory of organizations by exploring a problem of dual legitimacy faced by family firms in a transition environment. We investigate the cross-level legitimation effects arising at the intersection of the professional and institutional dimensions of legitimacy-seeking activities. We isolate a number of generic strategies employed by Russian family firms to earn professional and institutional legitimacy.
  Keywords: family firms; legitimacy; legitimation; Russia.
  DOI: 10.1504/IJEV.2021.10034940