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Navigating challenges: lean inventory management and SMEs performance during the COVID-19 crisis and beyond 迎接挑战：COVID-19 危机期间及之后的精益库存管理与中小企业绩效
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-09-16 DOI: 10.1007/s11187-024-00969-1
Vivien Lefebvre
{"title":"Navigating challenges: lean inventory management and SMEs performance during the COVID-19 crisis and beyond","authors":"Vivien Lefebvre","doi":"10.1007/s11187-024-00969-1","DOIUrl":"https://doi.org/10.1007/s11187-024-00969-1","url":null,"abstract":"<p>We examine organizational innovation through the adoption of lean inventory management and its impact on firm performance. Specifically, we investigate the moderating roles of firm size and occurrence of an external shock in the relation between lean inventory management and firm performance. Lean inventory management refers to the practice of holding minimum levels of inventory to reduce storage costs and save financial resources and is therefore expected to have a positive on impact firm performance. As small- and medium-sized enterprises (SMEs) face significant resource constraints, lean inventory management is potentially more beneficial for them than for large firms. However, the external disruption caused by an external shock, such as the COVID-19, has more severe consequences for lean SMEs than for larger firms. Using a large sample of French SMEs and large firms, we find evidence to support this view in all major industries. During the COVID-19 crisis, the positive effect of lean inventory management diminished for SMEs. The results have implications for managers regarding inventory management practices.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"101 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142235289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Blooming in the cracks: productive entrepreneurship amid institutional voids 在夹缝中绽放：体制空白中的生产性创业
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-09-05 DOI: 10.1007/s11187-024-00963-7
Zeynab Aeeni, Mehrzad Saeedikiya, Kamal Sakhdari, Vahid J. Sadeghi
{"title":"Blooming in the cracks: productive entrepreneurship amid institutional voids","authors":"Zeynab Aeeni, Mehrzad Saeedikiya, Kamal Sakhdari, Vahid J. Sadeghi","doi":"10.1007/s11187-024-00963-7","DOIUrl":"https://doi.org/10.1007/s11187-024-00963-7","url":null,"abstract":"<p>Institutional entrepreneurship holds that institutions, as the rules of the game, provide payoff structures affecting the allocation of entrepreneurship to productive, unproductive, or destructive paths. Contrary to institutionalist assumptions, institutional work (IW) literature draws a broader vision of the recursive and dialectical connection between agents and institutions. IW explains how agents’ intent and capability lead to maintaining, altering, or creating institutions and direct entrepreneurial outcomes toward productive paths. The current research adopts an IW perspective to explore how productive entrepreneurship (PE) occurs in poor institutional contexts. Applying an extended case method and conducting semi-structured interviews with entrepreneurs, we extend the current understanding of the agent-institution interplay in entrepreneurship allocation. Our results depict a more realistic and comprehensive picture of entrepreneurship allocation to productive paths amid institutional constraints. Highlighting the role of actions and motivations, we explore different mechanisms and IW strategies entrepreneurs use to pursue PE within inefficient institutions.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"133 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142152423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Digital equity and government support during COVID-19 COVID-19 期间的数字公平和政府支持
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-09-05 DOI: 10.1007/s11187-024-00961-9
Shabnam Kazembalaghi, Jerry Coakley, José M. Liñares-Zegarra, Silvio Vismara
{"title":"Digital equity and government support during COVID-19","authors":"Shabnam Kazembalaghi, Jerry Coakley, José M. Liñares-Zegarra, Silvio Vismara","doi":"10.1007/s11187-024-00961-9","DOIUrl":"https://doi.org/10.1007/s11187-024-00961-9","url":null,"abstract":"<p>The advent of COVID-19 portended a dire liquidity crunch for small firms as traditional external funding sources were severely curtailed. Defying expectations, initial equity crowdfunding (ECF) campaigns not only withstood the pandemic’s onslaught but also saw unprecedented growth in funding volume, investor participation and overfunding. The upshot was that external equity, the traditional funding of last resort, became the first choice. Increased ECF funding especially for seed ventures are likely linked to government-backed loan guarantee schemes that acted as a quality signal for investors. The paper highlights the unanticipated positive synergies between public support mechanisms and private equity dynamics where equity was funding of first choice for many small firms seeking external funding. These developments underscore ECF’s central role in digitally channelling equity capital to small firms during a period of heightened economic uncertainty.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"2 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142152429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Women-led ventures: target margins in emerging markets 妇女领导的企业：新兴市场的目标利润率
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-09-05 DOI: 10.1007/s11187-024-00962-8
Natalia Cantet, Brian Feld, Estefany Peña-Rojas
{"title":"Women-led ventures: target margins in emerging markets","authors":"Natalia Cantet, Brian Feld, Estefany Peña-Rojas","doi":"10.1007/s11187-024-00962-8","DOIUrl":"https://doi.org/10.1007/s11187-024-00962-8","url":null,"abstract":"<p>In recent decades, though the number of female entrepreneurs has grown, a gender gap remains. Self-confidence plays a pivotal role in understanding these differences. We examine gender and target margins in a vast dataset spanning Latin America, the Caribbean, and Sub-Saharan Africa. We use linear and interval regression analysis to estimate the relationship between gender and setting target margins. We find that female-led ventures are nearly five percentage points less likely to establish target margins compared to male-led ventures, even after adjusting for observable factors. Furthermore, ventures founded by women tend to set lower target margins than those with only male founders. These disparities could be attributed to intrinsic gender characteristics, contextual influences, and unique company traits. Given the link between profit margins and self-confidence, these findings suggest that, due to their self-assurance, typically higher, male entrepreneurs often set more ambitious goals, resulting in higher profits. To promote gender equality in entrepreneurship, policymakers, accelerators, and incubators should focus on bolstering the confidence of female entrepreneurs.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"48 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142152430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
(De)centralized governance and the value of platform-based new ventures: The moderating role of teams and transparency (非集中化管理与平台型新企业的价值：团队和透明度的调节作用
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-08-31 DOI: 10.1007/s11187-024-00964-6
Pierluigi Martino, Tom Vanacker, Igor Filatotchev, Cristiano Bellavitis
{"title":"(De)centralized governance and the value of platform-based new ventures: The moderating role of teams and transparency","authors":"Pierluigi Martino, Tom Vanacker, Igor Filatotchev, Cristiano Bellavitis","doi":"10.1007/s11187-024-00964-6","DOIUrl":"https://doi.org/10.1007/s11187-024-00964-6","url":null,"abstract":"<p>Drawing on institutional and demand-side perspectives, we investigate performance implications of (de)centralized governance modes in platform-based new ventures, and the conditions under which (de)centralization generates more value. Using a sample of 1,431 Initial Coin Offerings (ICOs), a new source of entrepreneurial finance, we find that centralization of decision-making is positively associated with platforms’ market value. Further, we consider how platform characteristics affect this relationship, finding that both the presence of an experienced Chief Technology Officer (CTO) and project transparency negatively moderate the positive relationship between centralization and market value. Thus, decentralized platforms need leaders with technical experience and project transparency to generate more value. Overall, this study provides a better understanding of the boundary conditions that increase the value of (de)centralized governance.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"101 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142101916","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Small business stories in the formation of enterprise policy: a narrative policy analysis of the UK Bolton Committee 企业政策制定过程中的小企业故事：英国博尔顿委员会的政策叙事分析
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-08-27 DOI: 10.1007/s11187-024-00966-4
Robert Wapshott, Oliver Mallett
{"title":"Small business stories in the formation of enterprise policy: a narrative policy analysis of the UK Bolton Committee","authors":"Robert Wapshott, Oliver Mallett","doi":"10.1007/s11187-024-00966-4","DOIUrl":"https://doi.org/10.1007/s11187-024-00966-4","url":null,"abstract":"<p>Enterprise policy, which seeks to stimulate start-ups and support small businesses, attracts significant investment from government and shapes the context for entrepreneurs. Researchers have begun to study the processes underlying the formulation of enterprise policy. However, accounts of how competing interests seek to influence enterprise policymaking processes remain rare. Utilising a distinctive approach to narrative entrepreneurship, developed through a narrative policy analysis, we examine archival records of submissions from a range of stakeholders to a UK government inquiry. We develop a narrative entrepreneurship approach that allows us to analyse the stories and broader narratives told by entrepreneurs and others. Our analysis identifies different types of narrative strategy used to develop stories by two competing interest groups: a narrative from small businesses and their representatives and, contesting this, a counternarrative from other stakeholders, including the finance industry, consumer groups and large firms. We analyse how the inquiry engaged with these competing narratives and sought to make them amenable to policymaking through the creation of a simplifying, overarching metanarrative. We demonstrate that, while this metanarrative simplified the uncertain, complex and polarised issue of enterprise policy, it masked and did not resolve the underlying tensions between competing interests.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"5 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142084715","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Investment grants and firms’ productivity: how effective is a grant booster shot? 投资补助金与企业生产力：补助金强心针的效果如何？
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-08-22 DOI: 10.1007/s11187-024-00955-7
Fernando Alexandre, Miguel Chaves, Miguel Portela
{"title":"Investment grants and firms’ productivity: how effective is a grant booster shot?","authors":"Fernando Alexandre, Miguel Chaves, Miguel Portela","doi":"10.1007/s11187-024-00955-7","DOIUrl":"https://doi.org/10.1007/s11187-024-00955-7","url":null,"abstract":"<p>This paper evaluates the impact of awarding a second investment grant to the same firm. We implement a Regression Discontinuity Design strategy using a rich firm-level administrative database, which allows us to link applications to grants and their scores to firms’ performance. Our results show that while a single grant has a positive impact on firms’ labour productivity, a second investment grant produces an even stronger effect. A more granular analysis suggests that only micro- and small-sized firms benefit from a single grant, whereas the overall effect of an investment grant booster shot is confirmed for the micro- and small-sized firms. No effects were found on total factor productivity for either the single or the second grant.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"6 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142022162","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Importing knowledge from psychology: how it broadens the scope of entrepreneurship research—and helps it avoid the “multi-tower effect” 从心理学中引进知识：如何拓宽创业研究的范围--并帮助其避免 "多塔效应"
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-08-20 DOI: 10.1007/s11187-024-00959-3
Robert A. Baron
{"title":"Importing knowledge from psychology: how it broadens the scope of entrepreneurship research—and helps it avoid the “multi-tower effect”","authors":"Robert A. Baron","doi":"10.1007/s11187-024-00959-3","DOIUrl":"https://doi.org/10.1007/s11187-024-00959-3","url":null,"abstract":"<p>Communication between different fields in universities is often hindered by the “multi-tower” problem: each focuses on its own questions and issues and tends to ignore work in other, even closely related ones. This occurs in part, because each field has its own terminology theories, journals, and conferences and because university policies claiming ownership of researchers’ findings restrict them from sharing this knowledge with others. Entrepreneurship, by welcoming input from many different sources—economics, sociology, strategic management, and psychology—avoids the “multi-tower” problem; this is one of its important strengths. In his own work, the author has sought to broaden the range of entrepreneurship research by “importing” findings and theory from psychology that are relevant to understanding entrepreneurs, the personal factors that affect their success, and important aspects of the entrepreneurial process overall.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"88 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142007460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Colors and Entrepreneurial Activities: An Exploratory Study 颜色与创业活动：一项探索性研究
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-08-16 DOI: 10.1007/s11187-024-00957-5
Nancy Hodges, Michael J. Kane, Albert N. Link
{"title":"Colors and Entrepreneurial Activities: An Exploratory Study","authors":"Nancy Hodges, Michael J. Kane, Albert N. Link","doi":"10.1007/s11187-024-00957-5","DOIUrl":"https://doi.org/10.1007/s11187-024-00957-5","url":null,"abstract":"<p>Colors may enhance entrepreneurial behavior. It is well known that creativity can lead to entrepreneurial behavior, and it is argued in the psychology literature that colors can influence an individual’s creativity. In this paper, we explore the empirical relationship between colors and entrepreneurial behavior under the literature-based hypothesis that yellows and oranges enhance an individual’s creative emotions. Our findings open the door for future research on the psychology of colors and entrepreneurship.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"12 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141992018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The non-linear impact of risk tolerance on entrepreneurial profit and business survival 风险承受能力对创业利润和企业生存的非线性影响
IF 6.4 1区 经济学
Small Business Economics Pub Date : 2024-08-14 DOI: 10.1007/s11187-024-00956-6
Melanie Koch, Lukas Menkhoff
{"title":"The non-linear impact of risk tolerance on entrepreneurial profit and business survival","authors":"Melanie Koch, Lukas Menkhoff","doi":"10.1007/s11187-024-00956-6","DOIUrl":"https://doi.org/10.1007/s11187-024-00956-6","url":null,"abstract":"<p>Entrepreneurs tend to be risk tolerant but is higher risk tolerance always better? In a sample of about 2100 small businesses, we find an inverted U-shaped relation between risk tolerance and profitability. This relationship holds in a simple bilateral regression, and even after controlling for a large set of individual and business characteristics. Apparently, one major transmission goes from risk tolerance via investments to profits. This is quite robust as it applies for both past and planned investments. Considering business survival, we show, first, that less profitable businesses leave the market while moderately risk tolerant entrepreneurs survive more often. Second, the high risk-low profit part of the U-shaped relation seems to disappear among businesses being 4 years and older, indicating that such inferior risk-profit combinations disappear over time. These findings are important for the concept of business readiness trainings as the motivation (and ability) to take risks should potentially be accompanied by some warning that taking too much risk can be detrimental to long-term business success.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":"58 1 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2024-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141980927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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