Journal of Business Venturing最新文献

{"title":"Legitimate incongruity: Strategic positioning within hybrid categories","authors":"Kostas Alexiou ,&nbsp;Jennifer Wiggins ,&nbsp;Md Fourkan","doi":"10.1016/j.jbusvent.2024.106402","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106402","url":null,"abstract":"<div><p>The primary purpose of this research is to examine the extent to which positioning hybrid ventures as more or less congruent with their category influences perceptions of their legitimacy. To do so, we first introduce and define the notion of a <em>hybrid category</em> as an institutional context which combines two or more dominant institutional logics that both constrain and enable organizational action. We then construct a theoretical framework instantiated within a hybrid category, suggesting that moderate incongruence between a new venture's identity narrative and the expectations most strongly associated with the category will positively influence perceived legitimacy. We further predict specific relationships among dimensions of perceived legitimacy, as well as their downstream effects on an individual's willingness to contribute resources. Across three studies in which we experimentally manipulate congruence with a hybrid category, we find a consistent pattern of support for our hypotheses and reveal a unique benefit for new hybrid ventures who position themselves in a manner that is moderately incongruent with the hybrid category. In addition, our results suggest that moral legitimacy perceptions act as a precursor to cognitive legitimacy perceptions in new hybrid categories.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106402"},"PeriodicalIF":8.7,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140879994","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}

{"title":"To profit or not to profit: Founder identity at the intersection of religion and entrepreneurship","authors":"Jody Delichte ,&nbsp;E. Erin Powell ,&nbsp;Ralph Hamann ,&nbsp;Ted Baker","doi":"10.1016/j.jbusvent.2024.106403","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106403","url":null,"abstract":"<div><p>For more than a century, discussion of the connections between religion and entrepreneurship has pointed to what we would now label questions of identity. Our study of 25 participants in a program in Northern Kenya that aimed to introduce and stimulate capitalist entrepreneurship within extremely poor pastoralist communities shows that differences in participants' religious social identities strongly shaped whether or not they adopted new roles and role identities as capitalist entrepreneurs. This process also shifted the domains in which their religious and collectivist social identities were salient and helped to explain the emergence of important and contested changes in social and economic relations. We contribute to the development of founder identity theory by building research at the intersection of entrepreneurship and religion and at the intersection of entrepreneurship and poverty alleviation.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106403"},"PeriodicalIF":8.7,"publicationDate":"2024-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140843879","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}

{"title":"Peer effects on passion levels, passion trajectories, and outcomes for individuals and teams","authors":"Simon Taggar ,&nbsp;Anne Domurath ,&nbsp;Nicole Coviello","doi":"10.1016/j.jbusvent.2024.106405","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106405","url":null,"abstract":"<div><p>We consider the influence of inter- and intra-individual team dynamics on entrepreneurial passion change and the relevance of passion change to important outcomes. Drawing on person-environment fit theory, we hypothesize first, that in newly formed teams, the entrepreneurial passion levels of individuals are impacted by their peers' passion (the average passion of their teammates). Second, we expect that individuals' trajectories of passion change are influenced by their perception of fit with the team. Third, passion levels and trajectories are expected to impact entrepreneurial outcomes for both individuals and teams. To examine these temporal dynamics, our hypotheses are tested with data from an accelerator program involving 343 team members nested in 79 newly formed teams. The findings reveal that in new teams, individuals' passion for inventing, founding, and developing are positively (negatively) influenced when teammates have higher (lower) passion for these roles and the association between individual's passion and peers' aggregated passion becomes stronger over time. Over time, positive passion trajectories emerge when an individual perceives higher fit with their team, and entrepreneurial intent is predicted by both (a) end-state levels of individual passion and (b) passion trajectories for inventing and founding (but not developing). Finally, we find that team passion trajectories predict team performance. Implications of these multi-level findings are discussed.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106405"},"PeriodicalIF":8.7,"publicationDate":"2024-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0883902624000272/pdfft?md5=6d3e7ccc89ed6c65d9b28d800ce91066&pid=1-s2.0-S0883902624000272-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140823487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Exploring the microfoundations of hybridity: A judgment-based approach","authors":"Carmen-Elena Dorobat ,&nbsp;Matthew McCaffrey ,&nbsp;Mihai Vladimir Topan","doi":"10.1016/j.jbusvent.2024.106406","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106406","url":null,"abstract":"&lt;div&gt;&lt;p&gt;We explore the concept of organizational hybridity from the perspective of the Judgment-Based Approach to entrepreneurship (JBA). The JBA provides much-needed microfoundations for hybridity in the form of a more nuanced, action-based view of the market mechanism in shaping enterprises. Rather than a problem of conflicting logics at the organizational level, hybridity is redefined as entrepreneurial judgment at the individual level about combinations of monetary and psychic profit. Viewed this way, hybridity is a universal characteristic of real-world enterprises rather than a defining feature of a specific subset of them. This approach thus ultimately reshapes our understanding of hybridity and suggests an alternative view that is less conflictual and insular, and more conciliatory and integrated. It also sheds light on various problems facing such enterprises, including strategy formation, practical wisdom, normative pressures, mission drift, entrepreneurial groups, and public policy.&lt;/p&gt;&lt;/div&gt;&lt;div&gt;&lt;h3&gt;Executive summary&lt;/h3&gt;&lt;p&gt;Hybrid enterprises are said to combine different logics or orientations within an organization. These logics are typically described as either economic or social, and are usually conceived as existing in inherent tension with each other; hence, hybrid enterprises are neither conventional monetary profit-seeking businesses nor purely social or charitable organizations, but some awkward, possibly paradoxical combination of both. The best-known and most frequently studied types of hybrids are social enterprises, which straddle the line between monetary profit-seeking and the pursuit of broader social goals or social value.&lt;/p&gt;&lt;p&gt;The literature on hybrids is growing rapidly, but to date there has been little agreement over its fundamental concepts and frameworks, and key questions remain about the origins, meaning, and development of hybrids. There is particular debate about whether the different “logics” of hybrids are necessarily in tension or conflict, or whether they exist harmoniously, as complements. Are hybrids just another form of profit-seeking market organization? As organizations, are they puzzles to solve, or perhaps paradoxes to confront? Answering these questions is crucial for understanding of what hybrids are, how they work, and what their broader implications are for economy and society.&lt;/p&gt;&lt;p&gt;We address to these debates by developing a new conceptual basis for studying hybrid enterprises. We argue that current controversies are usually the result of studying hybridity only at the organizational level. In response, we explore the microfoundations of hybridity, showing that what is called hybrid organizing simply reflects entrepreneurs' choices about how to pursue &lt;em&gt;monetary profits&lt;/em&gt; and &lt;em&gt;psychic profits&lt;/em&gt;. Drawing on the Judgment-Based Approach to entrepreneurship (JBA), we show how entrepreneurial decision-making constantly negotiates the boundaries of monetary calculation and profit-seeki","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106406"},"PeriodicalIF":8.7,"publicationDate":"2024-05-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0883902624000284/pdfft?md5=543cf02f984f992b0031361b70f7bb36&pid=1-s2.0-S0883902624000284-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140823488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A framework for investigating new firm entry: The (limited) overlap between informal-formal and necessity-opportunity entrepreneurship","authors":"Saul Estrin ,&nbsp;Maribel Guerrero ,&nbsp;Tomasz Mickiewicz","doi":"10.1016/j.jbusvent.2024.106404","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106404","url":null,"abstract":"&lt;div&gt;&lt;p&gt;We analyse entrepreneurial entry along the dimensions of informal-formal and necessity-opportunity entrepreneurship, distinguishing between them yet considering them jointly. While the dominant view in the literature conflates necessity with informal entry, and opportunity with formal entry, we hypothesise that informal entrepreneurship may be attractive to higher-income individuals as a testing ground for entrepreneurial ideas. We also explain why higher-income individuals may undertake necessity entrepreneurship. We utilise individual Global Entrepreneurship Monitor (GEM) data from Chile (2019–2021), which identifies informal-formal and necessity-opportunity entrepreneurial entry modes, to test hypotheses on the role of individuals´ income in the four types of entrepreneurial entry. We also consider changes in entrepreneurial entry during a crisis and a non-crisis periods. Our results confirm that the patterns in the data are consistent with hypotheses derived from our proposed theoretical framework.&lt;/p&gt;&lt;/div&gt;&lt;div&gt;&lt;h3&gt;Executive summary&lt;/h3&gt;&lt;p&gt;Emerging markets economies have very large informal sectors, and their entrepreneurial entry is often motivated by economic necessity rather than by business opportunity. But neither informal nor necessity entrepreneurship are usually expected to generate the positive benefits for growth and development predicted for formal and opportunity entrepreneurship. We argue that the dominant stream in the literature actually conflates informal and necessity entrepreneurship, both of which have been associated with low human and financial capital and productivity. We propose that the appropriate typology is more complex than this because there are examples of successful and dynamic informal firms. This leads us to identify four categories of entrepreneurial entry: informal-necessity (Type 1), formal-opportunity (Type 2), informal-opportunity (Type 3), and formal-necessity (Type 4). While necessity entrepreneurship has typically been associated with low-income individuals, we propose that formal-necessity entrepreneurship may be an entry path for both low- and high-income individuals, though for different reasons. Informal opportunity entry may likewise be an option for people with low-income as well as high-income.&lt;/p&gt;&lt;p&gt;We therefore seek to disentangle the analysis of opportunity-necessity and of formal-informal entry and to demonstrate that the two less explored entry modes - informal-opportunity, and formal-necessity - are of considerable theoretical and practical significance in emerging economies. We test our framework in the emerging market economy setting of Chile, one of the more prosperous and open economies in Latin America. We use Global Entrepreneurship Monitor (GEM) data which uniquely for Chile allow us to distinguish between individuals along both the formal-informal and the necessity-opportunity dimensions. On this basis, we distinguish empirically between these four categories of entreprene","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106404"},"PeriodicalIF":8.7,"publicationDate":"2024-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0883902624000260/pdfft?md5=2522ca6068eb831105cee9073a15a7a0&pid=1-s2.0-S0883902624000260-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140639378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"“I can't get it out of my mind” - Why, how, and when crisis rumination leads entrepreneurs to act and pivot during crises","authors":"Bach Nguyen ,&nbsp;Hai-Anh Tran ,&nbsp;Ute Stephan ,&nbsp;Ha Nguyen Van ,&nbsp;Pham Thi Hoang Anh","doi":"10.1016/j.jbusvent.2024.106395","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106395","url":null,"abstract":"<div><p>Why do some entrepreneurs pivot their business models in a crisis, while others are more passive? Integrating Conservation of Resources theory with work on crisis rumination, we developed a micro-level model to explain why entrepreneurs who are under strain due to a crisis, as indicated by experiencing crisis rumination, adopt an active approach – i.e., using active coping and engaging in pivoting. Moreover, prevention-focused entrepreneurs who are habitually more sensitive to losses are especially stimulated by crisis rumination to pivot to prevent (further) resource losses. We tested our model in an experiment and an eight-month longitudinal study with entrepreneurs during an inflation crisis.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106395"},"PeriodicalIF":8.7,"publicationDate":"2024-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S088390262400017X/pdfft?md5=64f8a562c86638c6de7a4e1761d0298b&pid=1-s2.0-S088390262400017X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140540710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The gendered effect of populism on innovation","authors":"Jintong Tang ,&nbsp;Wenping Ye ,&nbsp;Mingzhi Hu ,&nbsp;Stephen X. Zhang ,&nbsp;Shaji A. Khan","doi":"10.1016/j.jbusvent.2024.106393","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106393","url":null,"abstract":"<div><p>This research addresses the impact of the remarkable rise in populism on innovative new ventures. Integrating institutional theory with gender role congruity theory, we reason that the surge of populist discourse by a nation's top political leaders decreases the innovativeness of new ventures, and this negative relationship is more pronounced for women entrepreneurs. We also consider two critical yet overlooked institutions, gender inequality and grammatical gender marking in the dominant languages that entrepreneurs speak, and propose that they reinforce this negative relationship. Data from 69,406 observations of entrepreneurs across 40 countries during the period of 2005–2018, analyzed with a difference-in-differences (DiD) design, support our hypotheses. Theoretical and policy implications are discussed for the challenges of promoting innovation among women entrepreneurs, in countries with greater gender inequality and where the dominant language exhibits greater intensity of grammatical gender marking, with populism on the rise worldwide.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106393"},"PeriodicalIF":8.7,"publicationDate":"2024-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140347101","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}

{"title":"Non-probabilistic reasoning in navigating entrepreneurial uncertainty: A psychology of religious faith lens","authors":"Robert J. Pidduck ,&nbsp;David M. Townsend ,&nbsp;Lowell W. Busenitz","doi":"10.1016/j.jbusvent.2024.106392","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106392","url":null,"abstract":"<div><p>Uncertainty permeates the world of entrepreneurship. Yet, understanding how entrepreneurs perceive and make decisions in the face of uncertainty remains elusive. The value of Bayesian decision models with their probabilistic-based assumptions is only of limited help to entrepreneurs in solving the problem of uncertainty. This research extends the utility of <em>non-probabilistic</em> modes of entrepreneurial cognition as a supplementary epistemology for shedding light into the ‘black box’ of how entrepreneurs navigate unknowable futures. We conceptualize core insights, on how decision-makers make sense of, interpret, and act amidst life's deep uncertainties. Specifically, we introduce four decision heuristics entrepreneurs adopt—grounded in the shared foundations in broader conceptions of uncertainty from the psychology of religious faith—that help systematize why (a) intuitive insight, (b) generative doubt, (c) redemptive choice, and (d) transcendent faith, enhance our understanding of how elements of uncertainty throughout the venture development journey are often addressed. Implications for future research are discussed.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106392"},"PeriodicalIF":8.7,"publicationDate":"2024-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140342490","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}

{"title":"The effect of regime change on entrepreneurship: A real options approach with evidence from US gubernatorial elections","authors":"David S. Lucas","doi":"10.1016/j.jbusvent.2024.106394","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106394","url":null,"abstract":"<div><p>Although political turnover is said to be a healthy component of the business environment, the literature is equivocal about the effects of regime change on early-stage entrepreneurial activity. I present incumbent displacement—the electoral defeat of an incumbent political party's candidate—as a source of regime change, and I analyze how this affects business formation through the lens of real options theory. I test my theory using US gubernatorial elections from 2004 to 2022, leveraging a Regression Discontinuity design to compare changes in business formation trends following elections where a challenger party candidate wins or loses by a close margin. I find that regime change reduces venture creation activity for growth-oriented ventures specifically. I also find evidence of a partial rebound in subsequent months—suggestive that some entrepreneurs delay entry while others permanently abandon their ventures.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 4","pages":"Article 106394"},"PeriodicalIF":8.7,"publicationDate":"2024-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140308881","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}

{"title":"The value of a reputation for sustaining commitment in interfirm relationships: The inclusion of corporate venture capitalists in investment syndicates","authors":"Joseph J. Cabral ,&nbsp;M.V. Shyam Kumar ,&nbsp;Haemin Dennis Park","doi":"10.1016/j.jbusvent.2024.106391","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106391","url":null,"abstract":"<div><p>We explore the importance of sustaining commitment in inter-firm relationships in the corporate venture capital setting. We find that a corporate investor's past behavior in terms of committing to investment relationships and not abandoning them prematurely confers reputational benefits that increase the likelihood of its participation in future investment opportunities. These reputational effects have a greater impact when the corporate investor has extensive patent stocks and has higher levels of potential slack. Our study highlights the value of sustaining commitment in interfirm relationships, and offers a deeper understanding of an important driver of corporate venture capital program investment opportunities.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 3","pages":"Article 106391"},"PeriodicalIF":8.7,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140122290","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}