Journal of Business Venturing最新文献

{"title":"Exploring the microfoundations of hybridity: A judgment-based approach","authors":"Carmen-Elena Dorobat , Matthew McCaffrey , Mihai Vladimir Topan","doi":"10.1016/j.jbusvent.2024.106406","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106406","url":null,"abstract":"<div><p>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.</p></div><div><h3>Executive summary</h3><p>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.</p><p>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.</p><p>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 <em>monetary profits</em> and <em>psychic profits</em>. 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 , Maribel Guerrero , Tomasz Mickiewicz","doi":"10.1016/j.jbusvent.2024.106404","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106404","url":null,"abstract":"<div><p>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.</p></div><div><h3>Executive summary</h3><p>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.</p><p>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}

{"title":"The effects of firm-specific incentives (stock options) on mobility and employee entrepreneurship","authors":"Vilma Chila ,&nbsp;Shivaram Devarakonda","doi":"10.1016/j.jbusvent.2024.106382","DOIUrl":"10.1016/j.jbusvent.2024.106382","url":null,"abstract":"<div><p>We consider the effect of employee stock options on employee mobility and employee entrepreneurship. Employee stock options are firm-specific, long-term, equity-based incentive instruments—attractive properties for affecting employee behaviors and decisions. We argue that employee stock options reduce employee mobility levels. By contrast, we posit that employee stock options increase employee entrepreneurship levels, and even more so when a firm's knowledge scope is narrow. Using the semiconductor industry as the setting, we document not only the negative effect of employee stock options on employee mobility levels but also the positive impact on employee entrepreneurship levels; the positive impact is also more substantial in firms with a narrow knowledge scope. We contribute to the literature that examines the influence of organizational conditions on the origins of entrepreneurship. We also inform research on strategic human capital by explicating the divergent effects of firm-specific incentives on two crucial human capital outcomes for firms.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 3","pages":"Article 106382"},"PeriodicalIF":8.7,"publicationDate":"2024-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0883902624000041/pdfft?md5=18d752d04ac3c2c1d3856a68700f0979&pid=1-s2.0-S0883902624000041-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139917420","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":"Parental divorce in early life and entrepreneurial performance in adulthood","authors":"Mateja Andric ,&nbsp;Josh Wei-Jun Hsueh ,&nbsp;Thomas Zellweger ,&nbsp;Isabella Hatak","doi":"10.1016/j.jbusvent.2024.106390","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106390","url":null,"abstract":"<div><p>We examine how parental divorce in early life affects performance in entrepreneurship in adulthood. Drawing on life course theory and empirical analyses of US self-employment and childhood data from the National Longitudinal Survey of Youth 1979, we show that entrepreneurs' experience of parental divorce in childhood benefits their entrepreneurial performance in adulthood through a gain in self-efficacy while simultaneously suppressing entrepreneurial performance through a shortfall in human capital. We also show that whether the performance advantages or disadvantages from parental divorce dominate depends on parental human capital. While parental divorce is associated with underperformance for entrepreneurs whose parents have high levels of human capital, it is positively related to entrepreneurial performance for those with low parental human capital. Our study contributes new theory and evidence on the intertemporal relationship between past family contexts and present entrepreneurial performance.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 3","pages":"Article 106390"},"PeriodicalIF":8.7,"publicationDate":"2024-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0883902624000120/pdfft?md5=f9e958a51d1c9e4e4db64706b5247877&pid=1-s2.0-S0883902624000120-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139748964","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":"Old but gold? Examining the effect of age bias in reward-based crowdfunding","authors":"Benedikt David Christian Seigner ,&nbsp;Aaron F. McKenny ,&nbsp;David K. Reetz","doi":"10.1016/j.jbusvent.2024.106381","DOIUrl":"https://doi.org/10.1016/j.jbusvent.2024.106381","url":null,"abstract":"<div><p>While age is positively related to entrepreneurial success, the prevailing stereotype favors younger entrepreneurs. To better understand how these contradictory perspectives influence funding decisions, we examine the role of age in a sample of 41,602 reward-based crowdfunding campaigns from Indiegogo. We find a negative correlation between an entrepreneur's apparent age and funding performance, indicating a preference for younger entrepreneurs. However, we also find age-based homophily where older entrepreneurs' campaigns attract older backers. Our study distinguishes between statistical and status-based discrimination to understand the multi-faceted nature of age in reward-based crowdfunding and demonstrate how investment motives mitigate and reinforce age-based discrimination.</p></div>","PeriodicalId":51348,"journal":{"name":"Journal of Business Venturing","volume":"39 3","pages":"Article 106381"},"PeriodicalIF":8.7,"publicationDate":"2024-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S088390262400003X/pdfft?md5=89c15577f2e414e4273b3d9e544b667e&pid=1-s2.0-S088390262400003X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139743958","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}