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Stars Are Where You Draw the Line: Reassessing Methods for Identifying Star Entrepreneurs 《明星是你的底线：重新评估识别明星企业家的方法》
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-08-17 DOI: 10.1177/10422587261470833
Boris Nikolaev
{"title":"Stars Are Where You Draw the Line: Reassessing Methods for Identifying Star Entrepreneurs","authors":"Boris Nikolaev","doi":"10.1177/10422587261470833","DOIUrl":"https://doi.org/10.1177/10422587261470833","url":null,"abstract":"Entrepreneurship outcomes tend to be right-skewed and heavy-tailed, with a small fraction of “star” firms often accounting for a disproportionate share of value creation. Yet, how to define the “star” entrepreneurs driving these outcomes remains highly contested. In this paper, we argue that star identification is best understood as a <jats:italic toggle=\"yes\">modeling choice</jats:italic> that depends on the research objective—no threshold rule can be evaluated as “optimal” or more “precise” independent of what the rule it is supposed to serve—and introduce a <jats:italic toggle=\"yes\">precision–recall</jats:italic> framework that makes the <jats:italic toggle=\"yes\">trade-offs</jats:italic> of threshold-based approaches more explicit. Using 13 years of Inc. 5000 data linked to subsequent public listings, we then compare nine threshold-based methods, including the recently proposed quantile absolute deviation procedure by Gala and Schwab (hereafter GS-QAD) which uses a bootstrap to set a cutoff tailored to the tail of the observed distribution. Three findings emerge. First, using simulations, we show that GS-QAD’s bootstrap procedure introduces systematic sample-size bias that can confound cross-industry comparisons. At the same time, as sample size grows, the method converges to a near-universal 17% to 20% rule. Second, firms classified as stars are 10 to 20 times more likely to become publicly traded and account for the majority of current market capitalization among publicly traded Inc. 5000 alumni. However, the choice of threshold determines a precision–recall trade-off in which no method dominates on all metrics. Finally, the probability of becoming a publicly traded company rises smoothly with revenue, with no detectable discontinuity at any threshold. We conclude that stars are where you draw the line—thresholds should be treated as <jats:italic toggle=\"yes\">modeling choices</jats:italic> fit to the research or policy objective, validated externally where feasible, and reported with their explicit trade-offs.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"9 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148729284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
“We Own What you Think”: Institutional Constraints on Hybrid Entrepreneurship and High-Growth Entrepreneurship “你想什么我们就拥有什么”：混合型创业和高增长创业的制度约束
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-08-17 DOI: 10.1177/10422587261473009
Ali Mohammadi, Sergio Rodriguez-Garnica
{"title":"“We Own What you Think”: Institutional Constraints on Hybrid Entrepreneurship and High-Growth Entrepreneurship","authors":"Ali Mohammadi, Sergio Rodriguez-Garnica","doi":"10.1177/10422587261473009","DOIUrl":"https://doi.org/10.1177/10422587261473009","url":null,"abstract":"This article investigates whether institutional conditions that limit employees to pursue hybrid entrepreneurship reduce potential high-growth entrepreneurship. Using the <jats:italic toggle=\"yes\">Alcatel v. Brown</jats:italic> ruling, as an institutional change that curtailed hybrid entrepreneurial activity, we show that affected states experienced a marked decline in indicators of ventures with high-growth potential. Effects are strongest among early-stage ventures, consistent with hybrid entrepreneurship enabling low-cost experimentation. Venture capital investors also respond to reduced experimentation by increasing syndication and staging. Overall, the results show that institutional arrangements shape experimentation through hybrid entrepreneurship and, consequently, the supply of ventures capable of achieving high growth.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"32 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148729293","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How Identity-Specific Workplace Support and Authenticity Drive Individual Entrepreneurial Orientation: Evidence From Sexual and Gender Minoritized Employees 身份特异性工作场所支持和真实性如何驱动个人创业取向：来自性别和性别少数员工的证据
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-07-31 DOI: 10.1177/10422587261470046
Andrea Greven, Denise Fischer-Kreer, Julian Schönauer, Malte Brettel
{"title":"How Identity-Specific Workplace Support and Authenticity Drive Individual Entrepreneurial Orientation: Evidence From Sexual and Gender Minoritized Employees","authors":"Andrea Greven, Denise Fischer-Kreer, Julian Schönauer, Malte Brettel","doi":"10.1177/10422587261470046","DOIUrl":"https://doi.org/10.1177/10422587261470046","url":null,"abstract":"Research on individual entrepreneurial orientation (Ind.EO) has yet to reveal the psychological conditions under which employees demonstrate Ind.EO in the workplace. Addressing this gap, we theorize that authenticity is a crucial mechanism linking identity-specific support to Ind.EO expression, thereby introducing an identity perspective to Ind.EO research. Using two-wave survey data from 952 employees among sexual and gender minorities in 47 countries, a validation study of 135 participants, and qualitative interviews, we demonstrate that authenticity fully mediates the effect of identity-specific support on innovativeness and proactiveness, but not on risk-taking. These results expand Ind.EO theory by incorporating an identity-based psychological dimension.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"157 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148650577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
When Environmental Sustainability Meets Equity Crowdfunding: The Role of Green Ventures in Job Creation 当环境可持续性与股权众筹：绿色企业在创造就业机会中的作用
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-07-13 DOI: 10.1177/10422587261463523
Anup Basnet, Magnus Blomkvist, Aristogenis Lazos
{"title":"When Environmental Sustainability Meets Equity Crowdfunding: The Role of Green Ventures in Job Creation","authors":"Anup Basnet, Magnus Blomkvist, Aristogenis Lazos","doi":"10.1177/10422587261463523","DOIUrl":"https://doi.org/10.1177/10422587261463523","url":null,"abstract":"We investigate how environmentally oriented ventures (EOVs) acquire financial resources through equity crowdfunding (ECF) and allocate resources to job creation. Our results suggest that EOVs raise 22.20% to 34.70% more funding and increase headcount by 18.06% to 61.95% relative to non-environmentally oriented ventures. We argue that environmental orientation may increase demand for labor, through the ongoing development of environmental capabilities, and labor supply, by making EOVs more attractive employers. Our evidence is more consistent with a supply explanation as EOVs find it somewhat easier to hire in tight labor markets. Our study highlights how ECF has real-economic impact through job creation. JEL classification: L26, M13, M14, M51","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"24 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148429191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Beyond the Individual: Neurodiversity and the Multi-Level Ecology of Entrepreneurial Ecosystems 超越个体：创业生态系统的神经多样性和多层次生态学
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-07-07 DOI: 10.1177/10422587261462857
Reginald Tucker
{"title":"Beyond the Individual: Neurodiversity and the Multi-Level Ecology of Entrepreneurial Ecosystems","authors":"Reginald Tucker","doi":"10.1177/10422587261462857","DOIUrl":"https://doi.org/10.1177/10422587261462857","url":null,"abstract":"A tension exists between the potential entrepreneurial strengths associated with neurodiversity and the systemic barriers neurodiverse individuals face within entrepreneurial ecosystems. Applying Ecological Systems Theory, we analyze how neurodiverse entrepreneurs interact with the nested layers (Micro- to Chrono-system) of the entrepreneurial ecosystem. This multi-level perspective reveals how inter-system (mis)alignments create friction, necessitates theorizing neurodiverse ecological niches, and positions neurodiversity as influencing ecosystem co-evolution. We offer a dynamic, interactionist framework that resolves theoretical limitations and provides a foundation for building more inclusive and effective entrepreneurial environments supportive of cognitive diversity.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"2 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148401474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Angel Investors’ Reinvestment Decisions: Escalating Commitments and Conflict Management Beyond Venture Performance 天使投资人的再投资决策：超越风险绩效的升级承诺和冲突管理
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-06-30 DOI: 10.1177/10422587261453867
Alexander Narh Tetteh, Haibo Zhou, Dan K. Hsu, Qingxiong (Derek) Weng
{"title":"Angel Investors’ Reinvestment Decisions: Escalating Commitments and Conflict Management Beyond Venture Performance","authors":"Alexander Narh Tetteh, Haibo Zhou, Dan K. Hsu, Qingxiong (Derek) Weng","doi":"10.1177/10422587261453867","DOIUrl":"https://doi.org/10.1177/10422587261453867","url":null,"abstract":"Angel investment research has grown rapidly; yet, <jats:italic toggle=\"yes\">when and under what conditions</jats:italic> angel investors recommit remains understudied. Integrating escalation of commitment (EOC) theory with the conflict management styles (CMSs) perspective, we examine these conditions through archival data investigation, a conjoint experiment (2,368 decisions by 148 angel investors), and a field study (214 ventures by 112 angel investors). We show that prior commitment increases angel investors’ reinvestment likelihood, contingent on entrepreneurs’ CMSs. We advance EOC theory by identifying relational boundary conditions and conflict management research by theorizing its moderating role in reinvestment decision-making, revealing escalation as a socially embedded process shaped by investor–entrepreneur interactions.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"76 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148355610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Toward a Relational Perspective on Hybrid Entrepreneurship: Institutional Complexity and the Co-Construction of Liminal Space in Hybrid Female Entrepreneurship 混合创业的关系视角：制度复杂性与混合女性创业的阈限空间共建
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-06-19 DOI: 10.1177/10422587261453879
Mulu Hundera, Mona Mensmann, Stefanie Habersang
{"title":"Toward a Relational Perspective on Hybrid Entrepreneurship: Institutional Complexity and the Co-Construction of Liminal Space in Hybrid Female Entrepreneurship","authors":"Mulu Hundera, Mona Mensmann, Stefanie Habersang","doi":"10.1177/10422587261453879","DOIUrl":"https://doi.org/10.1177/10422587261453879","url":null,"abstract":"This study examines hybrid entrepreneurship (HE) in non-Western contexts where informal and non-market institutions are central. Based on 31 case studies of female hybrid entrepreneurs in Ethiopia and 64 in-depth interviews, we conceptualize HE as a relational, co-constructed process shaped by institutional complexity. Women enact HE in liminal spaces sustained through relational practices: reconfiguring boundaries, cultivating ambiguity and gray areas, and maintaining webs of reciprocity. Institutional complexity both enables and constrains HE, underscoring its social embeddedness rather than individual agency. The study advances research on HE, female entrepreneurship, and institutional complexity by foregrounding relational dynamics and gendered experiences.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"18 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148286263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Institutional Space-Making for Equity in Entrepreneurial Ecosystems: Evidence from U.S. Cities 创业生态系统中公平的制度空间创造：来自美国城市的证据
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-06-09 DOI: 10.1177/10422587261450579
Qingfang Wang, Sua Kim, Scott Taylor
{"title":"Institutional Space-Making for Equity in Entrepreneurial Ecosystems: Evidence from U.S. Cities","authors":"Qingfang Wang, Sua Kim, Scott Taylor","doi":"10.1177/10422587261450579","DOIUrl":"https://doi.org/10.1177/10422587261450579","url":null,"abstract":"Entrepreneurial ecosystems (EE) are widely viewed as engines of innovation, economic development, and opportunity, yet prior research offers limited insight into how equity is institutionally produced and sustained, particularly for minority- and women-owned businesses. We introduce institutional space-making—the purposeful construction of governance, relational, and organizational environments that enable equitable participation—as a core institutional mechanism for ecosystem redesign. Drawing on a multi-city case analysis of the Ascend program across 13 U.S. cities, we identify 3 interrelated processes: (a) structural redesign that confronts exclusionary rules, routines, and evaluative logics; (b) relational mobilization through institutional entrepreneurship that assembles cross-sector coalitions to reconfigure resource flows and opportunity structures; and (c) organizational and implementation practices that embed cultural responsiveness through trust-building and adaptive coordination. Findings show that inclusive ecosystems emerge when these processes are jointly enacted, linking ecosystem design with everyday implementation. Our study advances EE theory by specifying how equity is produced through institutional redesign and offers actionable guidance for policymakers and ecosystem builders seeking durable inclusion.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"7 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148286201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
From Personal to Collective Powers: Towards Gender Inclusivity in Entrepreneurial Ecosystems 从个人权力到集体权力：实现创业生态系统中的性别包容性
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-06-07 DOI: 10.1177/10422587261450569
Iulia Stroila, Elina Isakova, Helle Neergaard
{"title":"From Personal to Collective Powers: Towards Gender Inclusivity in Entrepreneurial Ecosystems","authors":"Iulia Stroila, Elina Isakova, Helle Neergaard","doi":"10.1177/10422587261450569","DOIUrl":"https://doi.org/10.1177/10422587261450569","url":null,"abstract":"Entrepreneurship research increasingly seeks to explain how systemic change towards gender inclusivity unfolds. Drawing on a critical realist case study, we develop a morphogenetic account of how such change becomes possible within entrepreneurial ecosystems through <jats:italic toggle=\"yes\">structural and cultural conditioning</jats:italic> , <jats:italic toggle=\"yes\">social interaction</jats:italic> , and <jats:italic toggle=\"yes\">structural and cultural elaboration</jats:italic> . We show that <jats:italic toggle=\"yes\">bonding</jats:italic> and <jats:italic toggle=\"yes\">bridging</jats:italic> function as collective, agential mechanisms through which women and their allies reflexively contest gendered constraints and mobilise resource gatekeepers, thereby enabling shifts in ecosystem norms and practices over time. By doing so, the study bridges women’s entrepreneurship, ecosystem scholarship, and critical realism through a processual explanation of change.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"70 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148286227","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Acquisitive and Organic Growth in Penrose’s Theory: A Replication and Extension of Lockett, Wiklund, Davidsson, Girma (2011) 彭罗斯理论中的获取与有机增长：对Lockett， Wiklund, Davidsson, Girma（2011）的复制与延伸
IF 10.5 1区 管理学
Entrepreneurship Theory and Practice Pub Date : 2026-04-27 DOI: 10.1177/10422587261435937
Alessandro Lucini-Paioni, Panos Desyllas, Orietta Marsili, Elena Cefis
{"title":"Acquisitive and Organic Growth in Penrose’s Theory: A Replication and Extension of Lockett, Wiklund, Davidsson, Girma (2011)","authors":"Alessandro Lucini-Paioni, Panos Desyllas, Orietta Marsili, Elena Cefis","doi":"10.1177/10422587261435937","DOIUrl":"https://doi.org/10.1177/10422587261435937","url":null,"abstract":"We replicate Lockett, Wiklund, Davidsson, and Girma’s (LWDG) (2011) study, which draws on Penrose’s theory to explicate how organic and acquisitive growth interact, using data from 128,368 Dutch firms (2011–2016). Our results confirm LWDG’s finding that past organic growth negatively affects subsequent organic growth. However, unlike LWDG, reporting a positive association, we find that past acquisitive growth reduces subsequent organic growth. Extending LWDG’s framework reveals that this effect turns positive over time, particularly for complementary acquisitions. While our findings align with Penrose’s theory, they also provide a more nuanced understanding of the conditions under which acquisitive growth enhances organic growth.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"26 1","pages":""},"PeriodicalIF":10.5,"publicationDate":"2026-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147751487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","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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