Strategic Entrepreneurship Journal最新文献

{"title":"Entrepreneurial decision‐making under uncertainty and competing goals","authors":"Francesco Chirico, Luis R. Gomez‐Mejia, Josip Kotlar, Cristina Cruz, Massimo Baù, Kimberly A. Eddleston, Pascual Berrone, Robert E. Hoskisson","doi":"10.1002/sej.70013","DOIUrl":"https://doi.org/10.1002/sej.70013","url":null,"abstract":"Research Summary Entrepreneurs make critical decisions in uncertain environments where information is limited, outcomes are difficult to predict, and multiple goals often compete. Yet, existing research offers scattered insights into how entrepreneurs dynamically adapt to such contexts and how their decisions are shaped by behavioral and cognitive foundations such as judgment, intuition, and experience. We shed light on these phenomena by exploring how decision‐making is influenced by factors at multiple levels, from individual traits and family dynamics to team interactions and organizational structures. A key aspect of our inquiry focuses on how entrepreneurs manage uncertainty by balancing economic goals, such as growth and profitability, with non‐economic objectives like social impact, sustainability, or knowledge advancement. By integrating these perspectives, this work offers a conceptual framework that connects antecedents, processes, and outcomes of entrepreneurial decision‐making under uncertainty and competing goals, providing a promising roadmap for future research. Managerial Summary Entrepreneurs often make decisions in uncertain environments, where they must contend with limited information and competing goals. This work explores how entrepreneurs balance economic objectives, such as profit, with non‐economic ones, like satisfying various stakeholders, achieving social impact, and sustainability. It highlights the role of individual, family, team, and organizational factors in shaping these decisions, offering novel insights into how entrepreneurs can manage trade‐offs, adapt feedback‐based strategies, and recalibrate priorities over time. For owners, managers, and business leaders, understanding these dynamics can lead to better decision‐making, improved risk management, enhanced strategic alignment, increased innovation, and a more balanced approach to growth.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"122 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2026-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145897324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"New venture team stability and long‐run organizational growth","authors":"Jerry Guo, Anders Frederiksen, Lars Frederiksen","doi":"10.1002/sej.70011","DOIUrl":"https://doi.org/10.1002/sej.70011","url":null,"abstract":"Research Summary We explore the impact of new venture team (NVT) stability on long‐run organizational growth. With an instrumental variable design, we leverage a matched employer‐employee dataset of all Danish new ventures from 1981 to 1997. We find strong evidence that NVT stability has a positive effect on organizational growth in employees and that the effect grows stronger over time. We also find that stability is especially impactful for larger teams and for teams with higher education levels. The gains from stability also appear to be driven entirely by mixed‐gender teams. We connect our findings to the literature on NVT dynamics and suggest avenues for future research. Managerial Summary Stability within founding teams is crucial for the longevity and expansion of new ventures. We examine a dataset of Danish startups and find that ventures with stable founding teams demonstrate a 16.1 percentage point higher likelihood of survival and a 20.4% increase in average size after 10 years. This effect is accentuated in larger, more educated, and gender‐diverse teams. For entrepreneurs, these insights underscore the importance of not only assembling a strong initial team but also maintaining its composition to leverage growth opportunities as the business evolves.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"31 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2026-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145893757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Developing opportunities in times of crisis: The interactive effects of corporate entrepreneurs' emotional reactions and psychological climates","authors":"Yingzhu Fu, Marilyn A. Uy, Waifong Boh","doi":"10.1002/sej.70009","DOIUrl":"https://doi.org/10.1002/sej.70009","url":null,"abstract":"Research Summary This research investigates how corporate entrepreneurs' emotional reactions to the business impact of a crisis interact with psychological climates to drive engagement in opportunity formation. Drawing on affective events theory and psychological climate theory, we posit that positive emotional reactions increase engagement in opportunity formation when the psychological climate for initiative is strong, and negative emotional reactions increase engagement when the psychological climate for psychological safety is strong. Conversely, these relationships become negative when these climates are weak. An analysis of data from an eight‐wave longitudinal investigation involving 126 corporate entrepreneurs supports our predictions. By uncovering how corporate entrepreneurs' emotional reactions interact with climates for initiative and psychological safety, we illuminate the affective foundations of opportunity formation and show how organizations can foster climates that channel emotions into entrepreneurial action. Managerial Summary This study examines how corporate entrepreneurs' emotional reactions to crises interact with psychological climates to shape entrepreneurial actions. Our findings demonstrate that organizations should cultivate climates characterized by high personal initiative and psychological safety among middle managers. Managers' perceptions of such climates effectively harness both positive and negative emotional reactions for productive entrepreneurial actions, thereby facilitating corporate entrepreneurship. These insights are particularly marked for firms in disrupted industries, where conventional business approaches become obsolete in a crisis. Absent such organizational climates, managers' emotional reactions can discourage them from taking initiative on new opportunities, making it more difficult for the organization to transform and adapt.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"30 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145651515","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Innovating for impact: Harnessing business model innovation to tackle grand challenges","authors":"Nancy M. P. Bocken, Sven Heidenreich, Patrick Spieth, Christopher Tucci, Christoph Zott","doi":"10.1002/sej.70010","DOIUrl":"https://doi.org/10.1002/sej.70010","url":null,"abstract":"Research Summary This Special Section of the <jats:italic>Strategic Entrepreneurship Journal</jats:italic> explores how business model innovation (BMI) can address grand challenges (GCs), including <jats:styled-content>a</jats:styled-content> rtificial intelligence (AI), <jats:styled-content>b</jats:styled-content> usiness and global unrest, and <jats:styled-content>c</jats:styled-content> limate change through a proposed “ABC” classification and “BMI‐GC” concept. Highlighting BMI's role as a boundary‐spanning, collaborative approach to innovation, we demonstrate its potential to drive sustainable solutions by rethinking value creation, delivery, and capture mechanisms. We examine how BMI may foster resilience and help firms and organizations adapt to global volatility, integrate ethical AI, and advance sustainability in business ecosystems. We offer a roadmap for future inquiry into BMI‐GC, including measurement and assessment, digital transformation, and collaborative ecosystems. By embracing these research pathways, scholars can contribute to a deeper theoretical and practical understanding of BMI to address grand challenges. Managerial Summary We investigate how business model innovation (BMI) can help tackle pressing global challenges (GCs), including <jats:styled-content>a</jats:styled-content> rtificial intelligence (AI), <jats:styled-content>b</jats:styled-content> usiness and global unrest, and <jats:styled-content>c</jats:styled-content> limate change, captured in a proposed “ABC” classification and “BMI‐GC” concept. We illustrate how BMI can help firms and organizations create sustainable, resilient, and future‐proof solutions. Practical strategies include integrating ethical AI, embedding flexibility in business models to withstand volatility, and adopting sustainable practices that align with regulatory and market demands supported by BMI. The paper identifies key opportunities for businesses to rethink how they create and deliver value, and foster collaboration across ecosystems. Through the ABC classification and BMI‐GC concept, we show how BMI can help enhance competitive advantage while responding proactively to the complexities of a rapidly changing world.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"39 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145651504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"From critique to catalyst: How academic entrepreneurs transform negative feedback into pivots and performance","authors":"D. Carrington Motley, Michael Leatherbee, Riitta Katila","doi":"10.1002/sej.70004","DOIUrl":"https://doi.org/10.1002/sej.70004","url":null,"abstract":"Research Summary This study examines how academic entrepreneurs refine business ideas in response to external critique and how these responses relate to performance. We develop a framework that links feedback (critique), business‐idea changes (pivots), and performance, and test it using detailed data on external stakeholder feedback, changes to the business idea's core and periphery, and commercialization outcomes in 316 academic‐led teams. We find that academic entrepreneurs frequently modify their business idea's core in response to negative feedback, and that core changes—rather than peripheral ones—are positively associated with commercialization. Challenging the idea that all entrepreneurs are inertial, we find that academic entrepreneurs both actively embrace and benefit from changes to the business idea's core. By tracing the feedback‐response dynamics of business idea components, our study adds granularity to research on pivoting. Managerial Summary Entrepreneurs often face a choice between reworking the core of a business idea and making changes to its periphery. Analyzing 316 academic‐led teams seeking to commercialize technologies using the Lean Startup Method, we find that academic‐led teams frequently change their idea's core in response to negative feedback—and that only core changes, rather than peripheral changes, are linked to improved commercialization outcomes. Overall, the results show the effectiveness of the Lean Startup Method and demonstrate that focusing feedback on the core of the business idea is an effective way to provide feedback to academic entrepreneurs.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"152 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145434297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Upfront payments to venture‐backed startups in technology alliances: Bargaining effects of VC affiliations","authors":"Ramakrishna Devarakonda, Shivaram Devarakonda, Jeffrey J. Reuer","doi":"10.1002/sej.70008","DOIUrl":"https://doi.org/10.1002/sej.70008","url":null,"abstract":"Research Summary Upfront payments are important financial resources startups seek to negotiate in technology alliances. This study unpacks how venture‐backed startups can benefit from their VC affiliations and obtain better payments. We develop a bargaining framework and argue that VCs can strengthen venture‐backed startups' hand in alliance negotiations through two distinct pathways: (i) by providing a quality signal, and (ii) by serving as conduits of alternative partnering options. We further suggest that these distinct benefits in bargaining hinge on startups' technological quality, which substitutes for the quality signal arising from VC affiliations but complements the VC's intermediation role in markets for partners. The evidence therefore identifies the distinct and complex channels by which VCs can help startups obtain financial resources at nascent stages through their technology alliances. Managerial Summary Upfront payments in technology alliances are vital revenues for technology startups. This study reveals how venture capital (VC) affiliations strengthen startups' bargaining position and enable them to secure larger payments. VCs add value in startups' alliance negotiations in two key ways: by signaling the quality of the startup's resources and by providing alternative partnering options. The benefits of these mechanisms vary with the startup's technological quality—strong technology can substitute for the VC's quality signal but enhances the value of VC intermediation. Managers should recognize that VCs add value to their ventures beyond financing by also reinforcing their investee startups' bargaining power, helping startups negotiate favorable terms in technology alliances.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"112 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145381834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Don't calm down! How affective climate emerges in start‐ups","authors":"Marius Jones, Elisabeth Norman, Therese Egeland, Vidar Schei","doi":"10.1002/sej.70007","DOIUrl":"https://doi.org/10.1002/sej.70007","url":null,"abstract":"Research SummaryDifferent types of affective climates—norms related to the experience, expression, use, and regulation of emotions—have been shown to impact organizational outcomes. However, we know less about how these climates emerge. This study investigates the emergence of affective climates through a 22‐month longitudinal multiple‐case study of five early‐stage start‐ups. Our analysis revealed that an affective climate of high authenticity emerged in start‐ups through three key mechanisms: the interaction between positive and negative emotions, constructive meta‐emotions, and interpersonal emotion regulation characterized by emotional validation and problem‐solving. Our findings contribute to the understanding of affective climate emergence and offer nuanced insights into how founders, managers, and teams can cultivate constructive emotional dynamics in highly uncertain, fast‐paced environments.Managerial SummaryWe explore how affective climate emerges through a longitudinal case study of five start‐ups. Affective climate describes norms and assumptions concerning the experience, expression, use, and regulation of emotions. Research suggests that an affective climate of high authenticity—meaning that members feel free to express their actual emotions—contributes to creativity and performance while reducing burnout. However, prior research offers few insights into how and why different affective climates emerge in start‐ups. We find that managers and founders may shape their organization's affective climate toward high authenticity by fostering positive emotions, through an accepting attitude toward their own negative emotions, and by validating employees' emotions. By doing so, managers and founders can foster healthy emotional dynamics in their start‐ups.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"94 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145282675","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Internal venturing as a signal: How entrepreneurial employees gain career benefits in organizations","authors":"Alyssa X. Liang, Jeffrey H. Dyer, Markus Baer, Zachariah J. Rodgers","doi":"10.1002/sej.70005","DOIUrl":"https://doi.org/10.1002/sej.70005","url":null,"abstract":"Research SummaryDo employees benefit from acting entrepreneurially in a corporate environment? Drawing on signaling theory, we propose that entrepreneurial behaviors lead to tangible career benefits through the creation of new internal ventures, which serve as a credible signal of an employee's leadership potential. Using a time‐lagged design with a sample of 643 employees, we found in Study 1 that employees engaging in higher levels of entrepreneurial behaviors are more likely to create new internal ventures, which subsequently lead to more promotions and—in larger organizations—higher compensation. Study 2 employed a within‐subjects design to directly evaluate the signaling value of new internal venture creation. Together, our findings highlight internal venturing as a key mechanism through which entrepreneurial employees can gain career benefits within established organizations.Managerial SummaryEntrepreneurial employees are often seen as organizational misfits. Yet, our research shows that acting entrepreneurially in a corporate environment can enhance employees' career success through new internal venture creation. In two studies, we find that employees engaging in higher levels of entrepreneurial behaviors—asking questions to challenge the status quo, observing with fresh perspectives, exchanging ideas across diverse networks, and experimenting with new approaches—are more likely to launch new internal corporate ventures. The act of new internal venture creation, in turn, leads to more promotions and—in larger organizations—higher compensation, because it sends a positive signal of an employee's leadership potential. Our findings offer practical insights for both entrepreneurial employees and organizations seeking to foster entrepreneurial spirit.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"50 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145241961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Anti‐labor environments and employee entrepreneurship: Evidence from right‐to‐work laws","authors":"Daehyun Kim, Namil Kim, Haemin Dennis Park","doi":"10.1002/sej.70006","DOIUrl":"https://doi.org/10.1002/sej.70006","url":null,"abstract":"Research SummaryWe explore how changes in labor unions and related labor environments affect employees' likelihood of starting a new business. We suggest that the enactment of stringent anti‐union laws reduces incentives for employees to stay with their respective workplaces and increases the attractiveness of becoming self‐employed. Using the adoption of right‐to‐work (RTW) laws in Michigan and Indiana as a quasi‐natural experiment, we find that the likelihood of employees becoming self‐employed increased by 53% compared with that of states without RTW laws. Moreover, this tendency is more pronounced for blue‐collar and low‐wage workers who start unincorporated businesses. These findings offer novel insights on the relationship between anti‐labor environments and necessity‐driven entrepreneurship by focusing on individual‐level incentives in non‐knowledge‐intensive sectors.Managerial SummaryChanges in employment conditions influence employees to consider starting their own businesses, yet our understanding of how these changes drive individuals toward entrepreneurship remains limited. This study explores how weakened labor union power affects workers' engagement in entrepreneurial activities, with a focus on the types of employees impacted and the businesses that they start. By examining the adoption of RTW laws in Michigan and Indiana, we find that weakened labor union power disproportionately affects blue‐collar and low‐wage workers, increasing their likelihood of starting unincorporated businesses. These results suggest that managers and policymakers should consider the challenges faced by these workers and how changes in employment conditions may shape their career choices.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"16 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145241198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Public support and VC financing in academic startups","authors":"Maud Thys, Maikel Pellens, Hanna Hottenrott, Marius Berger","doi":"10.1002/sej.70003","DOIUrl":"https://doi.org/10.1002/sej.70003","url":null,"abstract":"Research SummaryWe investigate public support and venture capital (VC) investment in academic startups. Government support may enable follow‐on investment by providing a quality signal to investors. This signal is especially important for academic startups, which face large funding gaps due to their complexity, cutting‐edge nature, and uncertainty regarding the founders' management capabilities and commitment. Using a panel of startups in Germany, our analyses confirm that academic startups are more likely to obtain follow‐on VC investment after receiving public support than non‐academic startups. Further, this effect is limited in time, lasts longer for academic startups, is concentrated in high‐tech manufacturing firms, and is stronger for investments from business angels. Our findings have implications for policymakers seeking to foster academic entrepreneurship through policy programs and VC investment.Managerial SummaryObtaining seed and growth capital is essential for potentially highly innovative startups. We show that startups that obtain public support are more likely to receive VC funding and that this effect is stronger for startups with academic founders, approximately twice as large. We further show that this benefit is limited in time, concentrated in the high‐tech manufacturing industry, and more salient for business angel financing than for investment by independent VC funds or corporate VCs. For founders of academic startups, our results imply that acquiring public support might enhance the chances of attracting follow‐on financing.","PeriodicalId":51417,"journal":{"name":"Strategic Entrepreneurship Journal","volume":"68 1","pages":""},"PeriodicalIF":6.3,"publicationDate":"2025-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145056709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}