{"title":"Effectuation (EF) and Causation (CS) on Venture Performance and Entrepreneurs’ Dispositions Affecting the Reliance on EF and CS","authors":"J. Yoon, Erin Cho","doi":"10.1515/ERJ-2020-0054","DOIUrl":"https://doi.org/10.1515/ERJ-2020-0054","url":null,"abstract":"Abstract This study investigates whether and how different decision logics (i.e., effectuation and causation) are linked to venture performance (i.e., annual average growth in revenue and profit as well as subjective assessments of venture performance and funding status). We also examine how dispositional characteristics of an entrepreneur (i.e., learning and performance goal orientations, ambiguity tolerance, desire for change, and locus of control) influence the use of different decision logics. The results indicate that causation has a significantly positive effect on revenue growth as well as subjective assessments of venture performance and funding status, while effectuation has a significantly negative effect on profit growth. We find that learning-goal orientation leads to a greater reliance on effectuation, while performance-goal orientation increases the use of causation. An internal locus of control positively affects the reliance on both effectuation and causation, while the desire for change increases the use of effectuation.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"37 1","pages":"381 - 408"},"PeriodicalIF":1.9,"publicationDate":"2021-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89144645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Irene R. R. Lu, Ernest Kwan, Louise A. Heslop, F. Brouard, Diane A. Isabelle
{"title":"Entrepreneurial Motivation in University Business Students: A Latent Profile Analysis based on Self-determination Theory","authors":"Irene R. R. Lu, Ernest Kwan, Louise A. Heslop, F. Brouard, Diane A. Isabelle","doi":"10.1515/ERJ-2020-0449","DOIUrl":"https://doi.org/10.1515/ERJ-2020-0449","url":null,"abstract":"Abstract The development of entrepreneurship education (EE) has become a top priority for many universities around the world. Accordingly, the objectives of this paper are to identify motivation profiles of university business students, to determine how profile membership predicts students’ entrepreneurial intention and interest to study entrepreneurship, and to identify predictors of membership in these motivation profiles. To achieve these objectives, our method entails the application of self-determination theory (SDT) in a person-centered analysis. Our study is, in fact, the first application of the full range of motivations from SDT to define students’ entrepreneurial motivations; furthermore, we use latent profile analysis to identify groups of students that can be distinguished according to these motivations. We discover four groups of students: 1) uniformly lowly motivated, 2) indifferent, 3) conflicted, and 4) uniformly highly and intrinsically motivated. We find that students in these groups differ with regard to their interest to study entrepreneurship and their intention to be entrepreneurs. We also identify psychological traits and background factors that could explain the group membership. We discuss the implications of these findings on the promotion and delivery of EE, and on how students may be motivated to become entrepreneurs.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"293 1","pages":"345 - 380"},"PeriodicalIF":1.9,"publicationDate":"2021-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79519234","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Entrepreneurial Attitude and Intention in Higher Education Students: What Factors Matter?","authors":"M. Rodrigues, Rui Silva, Mário Franco","doi":"10.1515/ERJ-2020-0107","DOIUrl":"https://doi.org/10.1515/ERJ-2020-0107","url":null,"abstract":"Abstract This study seeks to understand the main factors predicting the future entrepreneurial attitude and intention of higher education students. To do so, a questionnaire was sent to a sample of 508 students at a higher education institution (HEI) in the central region of Portugal. From a structural equation model, the results show that students’ entrepreneurial attitude is influenced positively, and with statistical significance, by Entrepreneurial Benefits, Entrepreneurial Passion, Psychological Cognition Factors and Religion Beliefs. On the other hand, the factors/dimensions of Self-Confidence and Creativity are found not to have a statistically significant influence on the Entrepreneurial Attitude of the students studied. In turn, entrepreneurial attitude was a direct and mediated predictor of students’ entrepreneurial intention. The results of the study can explain the influence of important factors on students’ entrepreneurial attitude and intention, presenting relevant challenges for HEIs to develop and provide more courses and programmes aimed at entrepreneurship. Such initiatives are a way to motivate students to be future entrepreneurs, raising business development and growth in the economy in general, and the country in particular. This study also makes an important contribution to the literature on higher education students’ attitude towards entrepreneurship and its influence on their future entrepreneurial intention. People with a strong entrepreneurial attitude and intention are needed to allow development, growth and innovation in the business sector. These actions can motivate students to be future entrepreneurs raising the business development and growth of the economy in general.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"345 1","pages":"251 - 280"},"PeriodicalIF":1.9,"publicationDate":"2021-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79647567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Federal Home Loan Bank (FHLB) Advances on Small Business Lending by Community Banks—2010–2016","authors":"Elijah Brewer, W. Jackson, Thomas S. Mondschean","doi":"10.1515/erj-2020-0121","DOIUrl":"https://doi.org/10.1515/erj-2020-0121","url":null,"abstract":"Abstract In this paper, we examine the relationship between small business loan growth and growth in core deposits and Federal Home Loan Banks (FHLBs) advances from 2010 to 2016. Controlling for other effects, we find that the relationships between small business loan growth is positively and significantly related to both FHLB advance growth and core deposit growth, with the coefficient on advance growth being significantly larger than the coefficient on core deposits over the entire sample period. We also tested whether this relationship changed after 2014:3 reflecting the Federal Reserve’s relaxation of the regulatory burden on smaller banks. We find that the relationship between loan growth and core deposit growth became more positive after the change, but the relationship between loan growth and FHLB advance growth did not. As a result, we could no longer reject the hypothesis that the coefficient on core deposit growth was equal to the coefficient on FHLB advance growth after 2014:3. This provides some empirical support that the regulatory changes in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (DFA) influenced small business lending by strengthening the impact of the growth in core deposits on the growth of small business lending, complementing the work of Bordo and Duca (2018) that changes in DFA had some unintended negative consequences for lending to small businesses. It also suggests that lowering the regulatory burden faced by community banks (which have a larger proportion of core deposits to total assets than non-community banks) could improve the incentive to increase small business lending. It also implies that FHLB advances remain an important funding tool at the margin to give commercial banking organizations greater liquidity and flexibility in funding their balance sheets.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"15 1","pages":"71 - 97"},"PeriodicalIF":1.9,"publicationDate":"2021-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83444151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analysis and Modeling of Enterprise Competitive Intelligence Based on Social Media User Comments","authors":"Jianlan Ding, Bing-jin Shi","doi":"10.1515/erj-2020-0206","DOIUrl":"https://doi.org/10.1515/erj-2020-0206","url":null,"abstract":"Abstract Under modern information conditions, competitive intelligence has an important strategic role for an enterprise to reduce market, financial and other risks. How to correctly evaluate the value of competitive intelligence and make the right decision for an enterprise directly determines the survival and development of an enterprise. By establishing a co-occurrence relationship between the two, the core themes of corporate microblog communication are discovered. Proceeding from the basic theory of the value of competitive intelligence, it is proposed that due to the connection of business departments within the enterprise system, the transfer value of competitive intelligence within the enterprise system is changed, and a mathematical analysis method is used to establish a value transfer analysis model. The value-added process of enterprise competitive intelligence and the internal and external operational processes of the enterprise are unified, and the internal and external competitive intelligence value-added operation modes of enterprises led by different strategies are studied. This provides a new and widely-referenced operational reference for different companies to effectively formulate and implement their competition and cooperation strategies through internal and external competitive intelligence operations.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"98 1","pages":"47 - 69"},"PeriodicalIF":1.9,"publicationDate":"2021-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81869515","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Wolfe, Jack Richter, Pankaj C. Patel, C. Williams
{"title":"Are the Liabilities of Newness and Smallness the Same for Male and Female Informal Entrepreneurs? Evidence from Brazil","authors":"M. Wolfe, Jack Richter, Pankaj C. Patel, C. Williams","doi":"10.1515/erj-2020-0120","DOIUrl":"https://doi.org/10.1515/erj-2020-0120","url":null,"abstract":"Abstract Though challenges to female entrepreneurship are widely acknowledged in the settings of developed countries or the context of formal firms, the challenges faced by female informal entrepreneurs in developing markets are less explored. Based on the liabilities of newness and smallness framework in organizational ecology, we draw on a sample of 2562 Brazilian informal firms, to examine the unique differences in the experience of newness and smallness between male and female informal entrepreneurs. With increasing firm age, female informal entrepreneurs realized lower firm revenues (inverted-U), however, the firm age and firm revenue association are linear for males. Informal firm performance did not vary by size between male and female informal entrepreneurs. The distinctive differences in firm revenues for male and female entrepreneurs have implications for informal entrepreneurship.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"2012 1","pages":"441 - 470"},"PeriodicalIF":1.9,"publicationDate":"2020-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74212122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Uncovering the Cultural Beliefs in a Nascent Entrepreneurial Ecosystem","authors":"Joshua E. Marineau, O. Nordstrom","doi":"10.1515/erj-2019-0358","DOIUrl":"https://doi.org/10.1515/erj-2019-0358","url":null,"abstract":"Abstract In this paper, we use Cultural Consensus as a theory and methodology and collect and analyze individuals’ mental models of entrepreneurship. This novel approach, combined with social network analysis, allows us to empirically study the shared cultural beliefs present within a nascent EE. Based on this case, we determine that, in contrast to mature ecosystems, the cultural beliefs within this nascent entrepreneurial ecosystem clearly prioritize action and behavioral elements over individual characteristics or entrepreneurial-related outcomes. Thus, our study suggests that the cultural beliefs within early ecosystems are different than the cultural beliefs that underpin mature ecosystems. We discuss implications and future research related to these findings and this approach.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"12 1","pages":"131 - 162"},"PeriodicalIF":1.9,"publicationDate":"2020-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87678440","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Matthias Filser, V. Tiberius, S. Kraus, Tanita Zeitlhofer, Norbert Kailer, Adrian W. Müller
{"title":"Opportunity Recognition: Conversational Foundations and Pathways Ahead","authors":"Matthias Filser, V. Tiberius, S. Kraus, Tanita Zeitlhofer, Norbert Kailer, Adrian W. Müller","doi":"10.1515/erj-2020-0124","DOIUrl":"https://doi.org/10.1515/erj-2020-0124","url":null,"abstract":"Abstract This paper provides an overview of the ever-increasing literature on opportunity recognition, with a focus on its antecedents and determinants. With a two-step research approach, a bibliometric analysis and a systematic literature review, we structure the current research in this field. By using bibliometric techniques, we analyzed 161 publications and, consequently, clustered the 30 most influential references. Apart from economic theories and the role of opportunity recognition in entrepreneurship, a strong research focus is on antecedents of opportunity recognition. Therefore, in our subsequent literature review, we focus on determinants which influence opportunity recognition. We find that the opportunity recognition process is influenced by various personal, organizational and environmental factors. We conclude with a research outlook for future research opportunities on opportunity recognition.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"33 1","pages":"1 - 30"},"PeriodicalIF":1.9,"publicationDate":"2020-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81337703","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Benefit Corporations and Corporate Social Intrapreneurship","authors":"Salvatore Esposito De Falco, Antonio Renzi","doi":"10.1515/erj-2020-0382","DOIUrl":"https://doi.org/10.1515/erj-2020-0382","url":null,"abstract":"Abstract The present Special Issue focuses benefit corporation and social intrapreneurship as two topics which in the last decades have taken on a growing role in studies about both management and economics. This growing interest comes from globalization and digitization phenomena that have determined a change in firms’ stakeholders expectations. In this regard, social pressures about the behavior of companies have determined a new way of conceiving profit seen not only as shareholder remuneration but also as a direct or indirect tool to foster greater interdependence between economic activities and social objectives. For instance, the relationship between profit and sustainability no longer follows dichotomous logic. The firms are moving towards a path of socialization essential for their survival. The issue of sustainability, which previously appeared secondary in business economics studies, today is a pure necessity; the current competitive dimensions are based on intense and continuous engagement actions towards all stakeholders. This perspective is reflected in new theoretical strands such as the Social Emotional Wealth Theory, in which profit in the short run assumes secondary positions with respect to the survival not only of the company, but also of its founder, who tends to link its “immortality” to his/her firm. Thus, issues related to the sustainability are entering more and more the DNA of the firms on the one hand and economic policies are increasingly interested in the global aspects of sustainability (social, economic, environmental and governance) on the other hand. These trends have favored the development of new types of businesses, such as benefit corporation and start-ups related to the social entrepreneurship logic, committed to combining long-term profitability with certain standards and optimizing their positive impact on employees, the community in which they operate and the environment as well. The current economic crisis caused by Covid-19 seems to have accelerated this tendency to combine economic and social benefits.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"88 1","pages":""},"PeriodicalIF":1.9,"publicationDate":"2020-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81383426","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Research on the Relationship Between Venture Capitalists’ Trust in the Entrepreneur and Their Investment Behaviors","authors":"Su-lei Li, Hongtao Yang","doi":"10.1515/erj-2020-0151","DOIUrl":"https://doi.org/10.1515/erj-2020-0151","url":null,"abstract":"Abstract Venture capitalists’ trust in entrepreneurs and their investment behaviors does not interact directly; Trust is a psychological state rather than static and stable phenomena. The relationship is affected by multiple factors. This study aims to develop a better understanding of the complex relationship and to show the degree of influence among factors, and to reveal “The Bewilderment of Decision-making” of VC. Based on SEM, this paper analyzes the relationship between the factors: the influencing factors at the initial stage of trust, trust, investor risk appetite, entrepreneurs’ behaviors, capitalists’ decision-making Behaviors, capitalists’ post-investment Behaviors. Our qualitative analysis is based on data by issuing 323 questionnaire surveys of 104 Chinese venture capital firms which are divided into different regions by Global Entrepreneurship Monitor (GEM). By analyzing various behaviors, we find that entrepreneurs’ behavior is a key factor in this relationship. Several factors studied earlier have a positive impact on the capitalist’s pre-investment decision-making behavior, but no significant impact on post-investment behavior. These results include trust and investor risk appetite. Through interviews, it was found that the capitalist’s post-investment behavior was related to the capitalist’s ability, resources, management mechanism and other factors.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":"57 1","pages":"161 - 184"},"PeriodicalIF":1.9,"publicationDate":"2020-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90825187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}