Showing papers on "Entrepreneurship published in 2016"
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TL;DR: The authors in this paper extol the achievements of the capitalist entrepreneur without examining class origins and monopoly advantage, and see entrepreneurs, irrespective of class origin, as heroic figures, with the dream and will to found a private kingdom, to conquer adversity, to achieve success for its own sake, and to experience the joy of creation.
Abstract: Development economists have been preoccupied with the problem of increasing the size of the GNP pie to the relative neglect of its distribution. Despite the recent disenchantment with the viewpoint that all classes share in the benefits of industrial growth, empirical data on the distribution of income, business opportunity, and economic power are in short supply. Many of the studies on entrepreneurship and economic development, when they are not apologetics for ruthless capitalist exploitation as Paul Baran suggests, extol the achievements of the capitalist entrepreneur without examining class origins and monopoly advantage. Joseph Schumpeter sees entrepreneurs, irrespective of class origin, as heroic figures, with the dream and will to found a private kingdom, to conquer adversity, to achieve success for its own sake, and to experience the joy of creation. For Gustav Papanek (1967), the private entrepreneur, who is frugal, diligent, far-sighted, remarkably able, and willing to take political risks, is in large part responsible for the "success" of Pakistan in achieving rapid industrialization.
1,588 citations
TL;DR: In this paper, the authors trace the content, scope and relatively short history of modern social innovation research across disciplines by applying network and bibliometric analyses, and explore their relevance to innovation studies.
447 citations
TL;DR: A systematic review of comparative international entrepreneurship (CIE) research is presented in this paper, highlighting the importance of multi-country studies of entrepreneurial activity in enabling the comparison and replication of research and generating meaningful contributions to scholarship, practice, and policy.
409 citations
TL;DR: In this article, the authors compare the regulation around the world and discuss how this impacts the development of markets and investigate the signaling role played toward external investors by equity retention and social capital.
Abstract: This paper makes two contributions to research on the new entrepreneurial finance context of equity crowdfunding. First, we compare its regulation around the world and discuss how this impacts the development of markets. Second, we investigate the signaling role played toward external investors by equity retention and social capital. Using a sample of 271 projects listed on the UK platforms Crowdcube and Seedrs in the period 2011–2014, we find that campaigns launched by entrepreneurs (1) who sold smaller fraction of their companies at listing and (2) had more social capital had higher probabilities of success. Our results combine findings in classical entrepreneurial finance settings, like venture capital and IPOs, with evidence from other, non-equity crowdfunding markets.
399 citations
TL;DR: In this paper, the authors suggest that persons who are attracted by, selected into, and persist in entrepreneurship may be relatively high in the capacity to tolerate or effectively manage stress, whereas those who are relatively low in this capacity tend to exit from entrepreneurship either voluntarily or involuntarily.
391 citations
TL;DR: In this article, the authors conducted a systematic literature review from 1993 to 2016, with a hybrid methodology including bibliometric and content analysis, and identified a turning point in the literature, the transition from business ecosystem to innovation ecosystem.
383 citations
TL;DR: In this paper, the authors explore the institutional factors that encourage opportunity entrepreneurship in order to achieve higher rates of economic growth and suggest that institutions may not have an automatic effect, as is typically assumed in growth models.
379 citations
TL;DR: In this paper, the accepted manuscript version of this paper is published in International Small Business Journal (ISBJ) and the accepted version available in the IBSJ version is available online.
Abstract: This is the accepted manuscript version. Published version available in International Small Business Journal
370 citations
01 Jan 2016
TL;DR: In this article, the authors present an innovation and entrepreneurship practice and principles that people can download and read, but end up in infectious downloads instead of reading a good book with a cup of tea in the afternoon.
Abstract: Thank you for reading innovation and entrepreneurship practice and principles. Maybe you have knowledge that, people have search numerous times for their favorite novels like this innovation and entrepreneurship practice and principles, but end up in infectious downloads. Rather than reading a good book with a cup of tea in the afternoon, instead they cope with some malicious virus inside their computer.
359 citations
TL;DR: In this paper, the authors scrutinize the intention-action gap among student entrepreneurs, attributing it to the contextual factors, i.e., individual (family entrepreneurial background, age, gender) and environmental characteristics (university environment, uncertainty avoidance), affecting the translation of entrepreneurial intentions into entrepreneurial actions.
335 citations
26 Jan 2016
TL;DR: In this paper, the antecedents to entrepreneurial behavior with particular attention to social (experience and education), societal (economic and political climate), and personality factors were investigated with 589 junior and senior students at one American and one Turkish university.
Abstract: Research confirms that intentions play an important role in the decision to start a new firm. But what factors influence intention? The purpose of this study is to investigate the antecedents to entrepreneurial behaviour with particular attention to social (experience and education), societal (economic and political climate), and personality factors. This study compares and contrasts U.S. and Turkish students based on surveys of 589 junior and senior students at one American and one Turkish university. The findings indicate that although they hold a positive attitude towards entrepreneurship, both U.S. and Turkish students show a low level of entrepreneurial intention. Confirming prior work, the findings also indicate that there is a statistically significant relationship among personality attributes of optimism, innovativeness, risk-taking propensity and entrepreneurial intention. In a new line of inquiry, experiential activities known to promote creative thinking—exposure to other cultures, new experiences and art events—were found to contribute to perceived innovativeness. Both U.S. and Turkish students expressed a need for more training and education on entrepreneurship to start a new business. As U.S. students perceived a high level of risk associated with entrepreneurship, Turkish students evaluated the economic and political conditions of home country quite unfavourably to start own business.
TL;DR: In this article, the authors examine the degree to which the crowd differs from experts in judging which ideas to fund, and whether the crowd is even rational in making funding decisions, and find significant agreement between the funding decisions of crowds and experts.
Abstract: In fields as diverse as technology entrepreneurship and the arts, crowds of interested stakeholders are increasingly responsible for deciding which innovations to fund, a privilege that was previously reserved for a few experts, such as venture capitalists and grant-making bodies. Little is known about the degree to which the crowd differs from experts in judging which ideas to fund, and, indeed, whether the crowd is even rational in making funding decisions. Drawing on a panel of national experts and comprehensive data from the largest crowdfunding site, we examine funding decisions for proposed theater projects, a category where expert and crowd preferences might be expected to differ greatly. We instead find significant agreement between the funding decisions of crowds and experts. Where crowds and experts disagree, it is far more likely to be a case where the crowd is willing to fund projects that experts may not. Examining the outcomes of these projects, we find no quantitative or qualitative differe...
TL;DR: In this article, a review of 109 articles in leading management and entrepreneurship journals over two decades is presented to synthesize the progress of this stream and promote its use, and discuss how future investigations of types of human capital related to the entrepreneurship process can benefit research and practice.
Abstract: Human capital has emerged as a highly utilized theoretical lens through which scholars can better understand entrepreneurship. To synthesize the progress of this stream and promote its use, we review 109 articles in leading management and entrepreneurship journals over two decades. We organize our discussion in terms of multi-theory approaches, methods and analyses, constructs, and study focus. A number of research gaps and promising areas for inquiry are put forward. We develop a typology of human capital and discuss how future investigations of types of human capital related to the entrepreneurship process can benefit research and practice.
TL;DR: In this paper, the authors analyzed the differences between business owners motivated by opportunity and necessity in terms of their socioeconomic characteristics, personality, and perceptions of entrepreneurial support, and found that those who prefer being a business owner and those who have more favorable perceptions of financial start-up support are more likely to be an opportunity versus a necessity business owner.
Abstract: The scholarly literature often distinguishes between so-called opportunity and necessity entrepreneurship and between “pull” and “push” motivations. Despite the pervasive use of this terminology, empirical analyses are mostly based on a single country. The present paper contributes by investigating business owner survey data for the United States and 32 countries in Europe and Asia. We analyze the differences between business owners motivated by opportunity and necessity in terms of their (1) socioeconomic characteristics, (2) personality, and (3) perceptions of entrepreneurial support. Descriptive statistics reveal that the two groups of business owners have very different profiles along these three dimensions. Moreover, multinomial logit regressions indicate that the determinants of business ownership (versus paid employment) differ for opportunity and necessity business ownership. A specific result of the present study (covering all 33 countries) is that the probability of being an opportunity versus a necessity business owner is higher for male, younger, wealthier, proactive, and optimistic business owners. Furthermore, those who prefer being a business owner and those who have more favorable perceptions of financial start-up support are more likely to be an opportunity versus a necessity business owner.
TL;DR: In this article, the authors develop five pillars on which the evolving social role of entrepreneurship can rest and have its impact: connecting entrepreneurial activities to other societal efforts aimed at improving the quality of life, achieving progress, and enriching human existence, identifying ways to reduce the dysfunctional effects of entrepreneurial activities on stakeholders, redefining the scope of entrepreneurship activities as a scholarly arena, recognizing entrepreneurship's social multiplier, and pursuing blended value at the organizational level, centring on balancing the creation of financial, social and environmental wealth.
Abstract: There is a need to rethink and redefine the social value added of entrepreneurial activities to society. In this paper we develop five pillars on which the evolving social role of entrepreneurship can rest and have its impact: (1) connecting entrepreneurial activities to other societal efforts aimed at improving the quality of life, achieving progress, and enriching human existence, (2) identifying ways to reduce the dysfunctional effects of entrepreneurial activities on stakeholders, (3) redefining the scope of entrepreneurial activities as a scholarly arena, (4) recognizing entrepreneurship's social multiplier, and (5) pursuing blended value at the organizational level, centring on balancing the creation of financial, social and environmental wealth. In a final section we discuss implications for practices and for further research.
TL;DR: In this article, the authors examine how crowdfunders decide what effort to support and ask how do crowd and expert decisions differ, and investigate whether crowdfunding democratizes access to capital by asking whether groups that have historically been underrepresented in capital markets gain additional access to the capital markets through crowdfunding.
Abstract: This article focuses on how crowdfunding might democratize the commercialization of innovation as well as financing. First, it examines how crowdfunders decide what effort to support and asks how do crowd and expert decisions differ? Second, it investigates whether crowdfunding democratizes access to capital by asking whether groups that have historically been underrepresented in capital markets gain additional access to capital markets through crowdfunding. Finally, it investigates whether crowdfunding leads to the growth of new firms in the same way that traditional funding does. Taken together, these questions point at a potentially vast alternative infrastructure for developing, funding, and commercializing innovation.
TL;DR: In this paper, the authors develop a multilevel framework to analyse the commonalities and differences between social and commercial entrepreneurship, including the impact of general and specific human capital, of national context and its moderating effect on the human capital-entrepreneurship relationship.
TL;DR: In this article, the interplay between gender differences and the social environment in the formation of entrepreneurial intentions was analyzed, where data were obtained from two different European regions and two different countries.
Abstract: This study analyzes the interplay between gender differences and the social environment in the formation of entrepreneurial intentions. Data were obtained from two different European regions. The r...
TL;DR: In this paper, a bibliometric analysis of 445 studies on business incubators is presented, which reveal the lack of articles on the topic of business incubation and highlight the fragmented nature of the topics these articles cover.
TL;DR: Fleming et al. as discussed by the authors found that evaluators systematically give lower scores to research proposals that are closer to their own areas of expertise and to those that are highly novel.
Abstract: Selecting among alternative projects is a core management task in all innovating organizations. In this paper, we focus on the evaluation of frontier scientific research projects. We argue that the "intellectual distance" between the knowledge embodied in research proposals and an evaluator's own expertise systematically relates to the evaluations given. To estimate relationships, we designed and executed a grant proposal process at a leading research university in which we randomized the assignment of evaluators and proposals to generate 2,130 evaluator-proposal pairs. We find that evaluators systematically give lower scores to research proposals that are closer to their own areas of expertise and to those that are highly novel. The patterns are consistent with biases associated with boundedly rational evaluation of new ideas. The patterns are inconsistent with intellectual distance simply contributing "noise" or being associated with private interests of evaluators. We discuss implications for policy, managerial intervention, and allocation of resources in the ongoing accumulation of scientific knowledge.
This paper was accepted by Lee Fleming, entrepreneurship and innovation.
TL;DR: This article found that most Western world policies do not greatly reduce or solve any market failures but instead waste taxpayers' money, encourage those already intent on becoming entrepreneurs, and mostly generate one-employee businesses with low-growth intentions and a lack of interest in innovating.
Abstract: We debate the motivation for and effectiveness of public policies to encourage individuals to become entrepreneurs. Reviewing established evidence we find that most Western world policies do not greatly reduce or solve any market failures but instead waste taxpayers’ money, encourage those already intent on becoming entrepreneurs, and mostly generate one-employee businesses with low-growth intentions and a lack of interest in innovating. Most policy initiatives that would have the effect of promoting valuable entrepreneurship would not be recognizable as such, because they would primarily address other market failures: A central-payer health care would remove healthcare-related distortions affecting employment choices; greater STEM education would produce more engineers of which some start valuable new firms; and labor market reform to encourage hiring immigrants in jobs they have been educated for would reduce inefficient allocation of talent to entrepreneurship.
TL;DR: In this article, the authors examined the relationship between social entrepreneurship, empowerment, and social change in rural India and found that innovative business processes that facilitated women's economic activity and at the same time complied with local social and cultural norms that constrain their agency contributed to changing the social order itself.
Abstract: Entrepreneurship is increasingly considered to be integral to development; however, social and cultural norms impact on the extent to which women in developing countries engage with, and accrue the benefits of, entrepreneurial activity. Using data collected from 49 members of a rural social enterprise in North India, we examine the relationships between social entrepreneurship, empowerment and social change. Innovative business processes that facilitated women’s economic activity and at the same time complied with local social and cultural norms that constrain their agency contributed to changing the social order itself. We frame emancipatory social entrepreneurship as processes that (1) empower women and (2) contribute to changing the social order in which women are embedded.
TL;DR: In this paper, the authors provide a unified perspective of fear of failure in entrepreneurship in order to facilitate progress in understanding its impact on entrepreneurial action and outcomes, by adopting an approach that captures a combination of cognition, affect and action as it relates to the challenging, uncertain and risk-laden experience of entrepreneurship.
TL;DR: The authors review the literature that links institutions, entrepreneurship, and economic growth outcomes, focusing in particular on empirical research, and argue that theories in management research, such as the resource-based view, transaction cost economics and strategic entrepreneurship theory, can fill some of the conceptual and theoretical gaps.
Abstract: We review the literature that links institutions, entrepreneurship, and economic growth outcomes, focusing in particular on empirical research. Most of the literature has an economics orientation, but we also review relevant literature from other social sciences, including management research. The review helps identify a number of conceptual, theoretical, and empirical gaps, calling for further research. For example, the literature narrowly identifies entrepreneurship with start-ups and self-employment; does not theorize many potentially relevant inter-level links and mechanisms; and suffers from sample limitations, omitted variable biases, causality issues, and response heterogeneity. We argue that theories in management research, such as the resource-based view, transaction cost economics, and strategic entrepreneurship theory, can fill some of the conceptual and theoretical gaps.
01 Jun 2016
TL;DR: In this paper, the authors discussed the role of entrepreneurship in education emphasizing the idea that education is a domain in that innovation is promoting and producing all the time and, due this, a domain of entrepreneurship.
Abstract: Abstract This paper analyzes the importance of entrepreneurship in education. Originally, the entrepreneurship model is an economic model. But, nowadays, as educational domain became more attractive for entrepreneurs and technological changes created new opportunities for autonomy, de-centralization, and customization in educational systems, entrepreneurship is a reality in education too. The new forms of education, such as virtual schools or online courses stimulated entrepreneurs to invest in education in the same mode as they would initiate businesses in domains more market oriented. They take risks to invest in education and are known as ‘edupreneurs’. In the first part of the paper is discussing the role of entrepreneurship in education emphasizing the idea that education is a domain in that innovation is promoting and producing all the time and, due this, a domain of entrepreneurship. In the second part of the paper the new concepts of edupreneurship and edupreneur are used to express the essence of entrepreneurial initiative in education and to emphasize significant issues of educational entrepreneurship. In the last part various forms of edupreneurial initiative are presented. The conclusion of the paper is that edupreneurial initiatives may represent viable solutions for the problems that schools and school managers are facing nowadays.
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TL;DR: In this paper, the authors reviewed the landscape of global talent mobility, which is both asymmetric and rising in importance, and sketched the determinants of global mobility at individual and firm levels.
Abstract: The global distribution of talent is highly skewed and the resources available to countries to develop and utilize their best and brightest vary substantially. The migration of skilled workers across countries tilts the deck even further. Using newly available data, the paper first reviews the landscape of global talent mobility, which is both asymmetric and rising in importance. Next, the determinants of global talent flows at the individual and firm levels are presented and some important implications are sketched. Third, the national gatekeepers for skilled migration and broad differences in approaches used to select migrants for admission are reviewed. Looking forward, the capacity of people, firms, and countries to successfully navigate this tangled web of global talent will be critical to their success.
TL;DR: A 2012 survey of the varying degrees of informalization of 300 entrepreneurs in Pakistan is reported in this article, finding that 62% of entrepreneurs operate wholly informal enterprises, 31% largely informal and 7% largely formal enterprises.
Abstract: In recent years, scholars adopting institutional theory have explained the tendency of entrepreneurs to operate in the informal sector to be a result of the asymmetry between formal institutions (the codified laws and regulations) and informal institutions (norms, values and codes of conduct). The aim of this article is to further advance this institutional approach by evaluating the varying degrees of informalization of entrepreneurs and then analysing whether lower levels of formalization are associated with higher levels of institutional asymmetry. To do this, a 2012 survey of the varying degrees of informalization of 300 entrepreneurs in Pakistan is reported. The finding is that 62% of entrepreneurs operate wholly informal enterprises, 31% largely informal and 7% largely formal enterprises. None operate wholly formal enterprises. Those displaying lower levels of formalization are shown to be significantly more likely to display higher levels of institutional asymmetry, exhibiting greater concerns abou...
TL;DR: In this article, the authors investigate why and how individuals engage in environmental entrepreneurship, inductively defined as: the use of both commercial and ecological logics to address environmental degradation through the creation of financially profitable organizations, products, services, and markets.
Abstract: On the basis of a qualitative study of 25 renewable energy firms, we theorize why and how individuals engage in environmental entrepreneurship, inductively defined as: the use of both commercial and ecological logics to address environmental degradation through the creation of financially profitable organizations, products, services, and markets. Our findings suggest that environmental entrepreneurs: (1) are motivated by identities based in both commercial and ecological logics, (2) prioritize commercial and/or ecological venture goals dependent on the strength and priority of coupling between these two identity types, and (3) approach stakeholders in a broadly inclusive, exclusive, or co-created manner based on identity coupling and goals. These findings contribute to literature streams on hybrid organizing, entrepreneurial identity, and entrepreneurship's potential for resolving environmental degradation.
TL;DR: In this article, the authors examined a higher-order structural model investigating business innovation, the owners' entrepreneurial self-efficacy (ESE), and human capital as drivers of restaurant performance.