Search results
1 – 10 of 10
The purpose of this paper is to explore the extent to which various theories of capital structure “fit” in the case of new technology‐based firms.
Abstract
Purpose
The purpose of this paper is to explore the extent to which various theories of capital structure “fit” in the case of new technology‐based firms.
Design/methodology/approach
This study uses data from the Kauffman Firm Survey, a longitudinal data set of over 4,000 firms in the USA. Descriptive statistics and multivariate results are provided.
Findings
The authors' findings reveal that new technology‐based firms demonstrate different financing patterns than firms that are not technology‐based.
Research limitations/implications
Although some support was found for both the Pecking Order and Life Cycle theories, the results also indicate that technology‐based entrepreneurs are both willing and able to raise substantial amounts of capital from external sources.
Practical implications
Technology‐based entrepreneurs need external sources of equity, in particular, in order to launch and grow their firms.
Originality/value
To the authors' knowledge, this is the first article to test specific theories of capital structure using a large sample of new technology‐based firms in the USA.
Details
Keywords
The growth of firms is fundamentally based on selfreinforcing feedback loops, one of the most important of which involves cash flow.When profit margin is positive, sales generate…
Abstract
The growth of firms is fundamentally based on selfreinforcing feedback loops, one of the most important of which involves cash flow.When profit margin is positive, sales generate cash, which may then be reinvested to finance the operating cash cycle.We analyze simulations of a sustainable growth model of a generic new venture to assess the importance of taxes, and regulatory costs in determining growth.The results suggest that new ventures are particularly vulnerable to public policy effects, since their working capital resource levels are minimal, and they have few options to raise external funds necessary to fuel their initial operating cash cycles.Clearly, this has potential consequences in terms of gaining competitive advantage from experience effects, word of mouth, scale economies, etc. The results of this work suggest that system dynamics models may provide public policy-makers a cost-effective means to meet the spirit of the U.S. Regulatory Flexibility Act
Charles Braymen and Florence Neymotin
– The purpose of this paper is to examine the effect of immigrant and ethnic enclaves on the success of entrepreneurial ventures as measured by firm profits and viability.
Abstract
Purpose
The purpose of this paper is to examine the effect of immigrant and ethnic enclaves on the success of entrepreneurial ventures as measured by firm profits and viability.
Design/methodology/approach
Data on entrepreneurs and their new firms were provided by the Kauffman Foundation and covered the years 2004-2008. These firm-level data were linked to Census 2000 Summary Files at the ZIP Code level and were used to empirically investigate the effect of enclaves.
Findings
The paper found a statistically significant negative effect of immigrant representation in an area on firm profitability. This effect operated on native, rather than immigrant, firm owners, which suggested that native-owned firms locating in immigrant enclaves may experience difficulty assimilating the benefits that enclaves offer.
Practical implications
Cultural connections within local communities play a key role in the success of new businesses. Potential firms should recognize the importance of these connections when making firm location decisions. Likewise, the findings suggest that connections within local communities should be considered when designing aid programs.
Originality/value
The authors used a unique measure of enclave representation to incorporate both immigrant, as well as ethnic, representation in the local area. The authors examined the effect of immigration on both immigrant- and native-owned firms in order to provide a broader scope and a more complete understanding of the effects of immigration on entrepreneurial ventures.
Details
Keywords
Alain Verbeke, M. Amin Zargarzadeh and Oleksiy Osiyevskyy
The aim of the article is to establish robust linkages between internalization theory and the empirical phenomenon of international new ventures (INVs). Here, the focus is on…
Abstract
Purpose
The aim of the article is to establish robust linkages between internalization theory and the empirical phenomenon of international new ventures (INVs). Here, the focus is on firm-specific advantages (FSAs) critical to early new venture internationalization.
Design/methodology/approach
On the conceptual level, we explain how the INV literature can easily be accommodated using an internalization theory lens, and we formulate hypotheses to that effect. On the empirical level, we use the Kauffman Firm Survey (KFS) dataset, which includes a panel of 4,928 US-based new businesses founded in 2004, tracked over their early years of operations. We use logistic regressions building upon pooled cross-sections, and including lagged dependent variables.
Findings
INV-type foreign expansion is a special case of international growth, easily and credibly predicted by internalization. No new theory beyond internalization theory is needed to explain this phenomenon.
Originality/value
The early stages of the Uppsala model, in terms of requisite resources accumulation and recombination, may have been undertaken at the individual level, by founding entrepreneurs, in the pre-stage of the new venture, and are “invisible” when focusing on organizational experience built up in the new venture. Here, particular founding entrepreneurs’ characteristics function as FSAs.
Details
Keywords
The purpose of this paper was to determine whether innovativeness is a personal attribute that enhances entrepreneurial success and to obtain external validation for the Valuable…
Abstract
Purpose
The purpose of this paper was to determine whether innovativeness is a personal attribute that enhances entrepreneurial success and to obtain external validation for the Valuable Novelty Theory of innovation and the Innovator Mindset (IM) instrument for measuring personal innovativeness.
Design/methodology/approach
This is the final paper in a series of three articles. The first article, Valuable Novelty: A Proposed General Theory of Innovation and Innovativeness, laid out the Valuable Novelty Theory and the Innovation Cycle. The second article Evaluating Mindset as a Means of Measuring Personal Innovativeness explained the design of the IM instrument. For this study, some 300 entrepreneurs were given the IM assessment and asked to provide data on their ventures’ recent performance. The data were then analyzed to see whether differing IM scores reflected different business outcomes. Due to the heavily skewed nature of the business performance data, this required the development of a non-traditional approach to data analysis that combined Rasch measurement, segmentation of the data into quantiles and hypothesis testing using simulations.
Findings
The findings were that there is a robust relationship between personal innovativeness and multiple measures of value creation. An unexpected finding was a Value Creation Curve, a non-linear pattern that appears to characterize the relationship between innovativeness and value creation regardless of the specific type of value.
Research limitations/implications
Key limitations of this study were that it was retrospective and focused on value creation in a particular endeavor – the launching of a new business. A longitudinal study with a control group would further clarify the relationship between innovativeness and value creation. Research in other settings is needed to explore the relevance of innovativeness to other types of value creation.
Originality/value
This is the first study to demonstrate and measure a relationship between personal innovativeness and entrepreneurial value creation, with effect sizes that appear to exceed any previously studied personal attributes. It confirms the role innovativeness plays in creating value, demonstrates the utility of the IM assessment as a research instrument and provides a tool that entrepreneurs and investors can use to more accurately predict the likely outcomes of business ventures.
Details
Keywords
Pamela Jewett and Deborah MacPhee
The purpose of this paper is to provide an account of the coaching element that was included in an existing graduate literacy course and to describe the responses of experienced…
Abstract
Purpose
The purpose of this paper is to provide an account of the coaching element that was included in an existing graduate literacy course and to describe the responses of experienced and less‐experienced teachers as they began to add collaborative peer coaching to their teaching identities.
Design/methodology/approach
Data collected included teachers’ coaching logs and written reflections on the coaching experience, and field notes taken by a professor. Data were analysed qualitatively through open coding. Initially, the authors read data individually and coded them by what they perceived to be the teachers’ coaching moves. Separately, they developed lists of codes and then reviewed coding lists to work through idiosyncratic data, collapse codes, align their language.
Findings
The authors identified three overarching and multi‐faceted moves that the coaching teachers made as they worked with partner teachers. They found that the teachers: used restraint; focused on partner teacher's needs; and provided opportunities for classroom observations and demonstrations.
Practical implications
Due to budget cuts, district coaching initiatives are being down‐sized. With fewer literacy coaches available, the authors believe that classroom teachers would benefit from learning about how to support each another as peer coaches.
Social implications
Teachers’ coaching moves, along with the curricular conversations engendered by them, created a culture of learning based on reflection and dialogue between coaching and partner teachers.
Originality/value
Very few studies have been conducted on peer coaching or have addressed the process by which teachers enrolled in graduate programs learned how to engage in collaborative peer coaching.
Details
Keywords
Nusrat Hafiz, Md. Fazla Mohiuddin, Ahmad Shaharudin Abdul Latiff, Ida Md. Yasin, Sazali Abd Wahab and Ahmed Razman Abdul Latiff
Although scaling is considered a “hot topic”, very little is known about how knowledge management (KM) assists in scaling social impact. To fill this gap, the authors draw on…
Abstract
Purpose
Although scaling is considered a “hot topic”, very little is known about how knowledge management (KM) assists in scaling social impact. To fill this gap, the authors draw on knowledge-based and social capital theories and investigate how various KM practices and external networks (e.g. bridging social capital) affect scaling social impact in developing countries.
Design/methodology/approach
Applying structural equation modeling (SEM) with AMOS version 23, the authors conducted a survey with 354 women leaders who are working in women-led social enterprises in Dhaka, Bangladesh.
Findings
The authors found that knowledge codification, training and mentoring, and bridging social capital are positively and significantly associated with scaling social impact.
Originality/value
This is one of the pioneering study that explore how KM impacts scaling social impact for women-led social enterprises in the context of a developing country. The authors also extend knowledge-based theory by applying it at the individual level. Finally, the authors enhance the understanding of women entrepreneurship by showing that women entrepreneurs in developing countries are also utilizing bridging social capital to overcome challenges associated with scaling social impact.
Details
Keywords
Wei Deng, Qiaozhuan Liang, Jie Li and Wei Wang
This bibliometric review aims to display visually the intellectual communities (i.e. the cooperation networks among various countries, institutions, journals and individuals), the…
Abstract
Purpose
This bibliometric review aims to display visually the intellectual communities (i.e. the cooperation networks among various countries, institutions, journals and individuals), the intellectual structure (i.e. the status quo and development trajectory of the intellectual base) and emerging hot topics of the female entrepreneurship research in 1975-2018. Based on the comprehensive review of the state-of-the-science, this paper aims to identify significant research gaps in extant studies and develop potential future research agendas that may catalyse new streams of female entrepreneurship research.
Design/methodology/approach
Bibliometric analysis via science mapping provides in-depth analyzes, highlights the intellectual structure and identifies hot topics. Using CiteSpace, co-citation networks of contributing countries, institutions, cited journals and authors are mapped first. Second, co-citation network analysis helps to identify the key “nodes” in the intellectual structure. The landscape view identifies main clusters from an overall perspective, while a timeline view delineates the characteristics and evolution of focal clusters. Major clusters are interpreted in detail with the help of foam tree graph processed by Carrot. Finally, the co-occurrence network analysis is conducted by using VOSviewer to examine hot topics and research frontiers
Findings
The findings show that the publications of female entrepreneurship increase exponentially. The major driving force of female entrepreneurship research is from the USA and England. In terms of intellectual structure, key concepts behind different clusters represent the major milestones in relation to individual determinants of female entrepreneurship, the impact of cultural and contextual factors on female entrepreneurship and female entrepreneurship in non-OECD countries, as well as the impact of family, social and institutional factors on the survival and exit of male and female enterprises. Hot topics include financing sources, the embeddedness nature, the impact and environmental factors of female entrepreneurship.
Practical implications
This study presents important practical implications. The findings suggest that intellectual communities of the female entrepreneurship field are relatively loose. Close contact and cooperation among different countries, institutions and researchers are lacking. To promote the evolution of the field, researchers who belong to different institutions in different countries may need to strengthen contact and cooperation. Additionally, papers in journals from the business and management discipline are most cited in this field, preventing new knowledge from other disciplines flowing into the female entrepreneurship field. Accordingly, female entrepreneurship research journals may need to expand their focus and combine knowledge from various domains.
Originality/value
This bibliometric review provides a more comprehensive, systematic and objective review of the female entrepreneurship field. Previous qualitative reviews are typically based on personal judgement, while a few quantitative reviews only describe statistical data. This study is based on thousands of citation data rather than a small number of papers pre-selected by the researcher, thus, is more data-grounded and less biased than prior reviews. It expands previous reviews by transparently visualizing the underlying structure and evolution of the field. Moreover, it highlights significant gaps in extant studies and develops future research agendas to catalyse new streams of research.
Details
Keywords
Candida G. Brush, Patricia G. Greene and Friederike Welter
The purpose of this paper is to provide a brief history of the evolution of the Diana Project and the Diana International Research Conference. The authors examine the impact of…
Abstract
Purpose
The purpose of this paper is to provide a brief history of the evolution of the Diana Project and the Diana International Research Conference. The authors examine the impact of the publications, conferences and research contributions and consider key factors in the success of this collaborative research organization. They discuss the ongoing legacy, suggesting ways to extend this into the future.
Design/methodology/approach
This paper uses an historical narrative and a citation analysis.
Findings
The Diana Project was founded by five women professors in 1999 with the purpose of investigating women’s access to growth capital. Following a series of academic articles, and numerous presentations, the first Diana International Conference was held in Stockholm, Sweden. At this convening, 20 scholars from 13 countries shared their knowledge of women’s entrepreneurship, venture creation and growth, culminating in the first volume of the Diana Book Series. Since then, 14 international conferences have been held, resulting in 10 special issues of top academic journals and 11 books. More than 600 scholars have attended or participated in Diana conferences or publications.
Research limitations/implications
Contributions from the Diana International Conferences’ special issues of journals and books have advanced theory across topics, levels, geographies and methods. Articles emerging from Diana scholars are some of the top contributions about women’s entrepreneurship and gender to the field of entrepreneurship. Future research directions are included.
Practical implications
This analysis demonstrates the success of a unique woman-focused collaborative research initiative and identifies key success factors, suggesting how these might be expanded in the future.
Social implications
To date, more than 600 scholars have participated in the Diana International Conferences or publications. Diana is the only community dedicated to rigorous and relevant research about gender and women’s entrepreneurship. Going forward, efforts to expand work on education for women’s entrepreneurship, women entrepreneurship faculty and careers, and women entrepreneurs, gender and policy will take place to extend this legacy.
Originality/value
The paper is unique in that it is the first to show the substantial legacy and impact of the Diana project since its inception in 1999. Further, it demonstrates how a feminist approach to entrepreneurial principles can yield insights about this unique research initiative and collaborative organization.
Details