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This study investigates the relationship between the strength of innovative entrepreneurial ecosystems and subjective well-being in 43 European smart cities. Subjective well-being is operationalized by a Quality of Life (QOL) survey that references the level of multidimensional satisfaction or happiness expressed by residents at the city level. The entrepreneurial ecosystem concept depicted here highlights actor interdependence that creates new value in a specific community by undertaking innovative entrepreneurial activities. The research uses objective and subjective variables to analyze the relationships between the entrepreneurial ecosystem and subjective well-being.

The authors conducted a cluster analysis with a nonaggregative quantitative approach based on the theory of the partially ordered set (poset); the objective was to find significant smart city level relationships between the entrepreneurial ecosystem and subjective well-being.

The strength of the entrepreneurial ecosystem is positively related to subjective well-being only in large cities. This result confirms a strong interdependency between the creation of innovative entrepreneurial activities and subjective well-being in large cities. The smart cities QOL dimensions showing higher correlations with the entrepreneurial ecosystem include urban welfare, economic well-being and environmental quality, such as information and communications technology (ICT) and mobility.

Despite the main implications being properly referred to large cities, the governments of smart cities should encourage and promote programs to improve citizens' subjective well-being and to create a conducive entrepreneurship environment.

This study is one of the few contributions focused on the relationship between the entrepreneurial smart city ecosystem and subjective well-being in the urban environment.

Institutional venture capitalists (IVCs) and corporate venture capitalists (CVCs) deploy analogous activities but adopt different approaches to financing innovation and value creation for venture-backed firms. Thus, this paper aims to investigate their potential ambidexterity as a result of knowledge management (KM) strategies and processes.

After a focused literature review showing evidence of KM behaviors as a source of potential ambidexterity for IVCs and CVCs, descriptive, inferential and discriminant analyses on the 15 most active IVCs and CVCs in the world in 2019 are presented. Correlations between numbers of deals, prevailing entrepreneurial intensity and potential ambidexterity are investigated.

Specific differences are analyzed from a KM perspective, revealing that the number/percentage of operations per round can result as a misleading criterion of knowledge accumulation. Finally, a theoretical model for ambidexterity for venture capitalists is developed.

The study shows that IVCs act with greater investment capacity because of their organizational structure and purpose and focus on financial goals; moreover, they are ambidextrous, although their exploration may more frequently entail exploitation than “real” exploration. CVCs tend to invest in sectors related to their core business, coherent with their strategic purpose and more oriented with KM strategies for accumulating intellectual capital.

This study presents and validates a theoretical model linking individual characteristics of the founding or lead innovative entrepreneur of a start-up venture – the entrepreneur's values, entrepreneurial attitudes and entrepreneurial self-efficacy – to the firm's entrepreneurial orientation (EO) and market orientation (MO) and, ultimately, to firm performance.

We conducted a survey on a stratified random sample of founders of early-stage South Australian micro- and small enterprises with a response rate of 24% (N = 204). Structural equation modelling was used to evaluate the model.

The study found that there is a significant relationship between the individual lead entrepreneur and firm strategies developed in early-stage firms in explaining firm performance. It also found that internal values are positively related to entrepreneurial attitude. Entrepreneurial attitude is positively related to entrepreneurial self-efficacy and EO innovativeness. In turn, entrepreneurial self-efficacy is related to innovativeness, proactiveness and risk-taking. The proactiveness dimension of EO and entrepreneurial attitude is related to MO. Entrepreneurial self-efficacy, innovativeness and MO are related to firm performance.

This research was limited to entrepreneurial ventures in South Australia and may lack generalisability in other states and countries.

The research contributes to the understanding of the heterogeneity within self-employed individuals, in particular among innovative entrepreneurs, by expanding insights regarding antecedents and consequences of the entrepreneurial process. It develops insights into the links of individual-level constructs with firm-level constructs to develop a more meaningful understanding of new venture creation and performance. It enhances our knowledge of the heterogeneity within the group of self-employed by exploring the individual entrepreneurial antecedents of performance in early-stage firms.

This study aims to draw observations on the current status and potentials of the Philippines as a farm tourism destination and identify the underlying factors that inhibit farm tourism development. It intends to gauge the challenges that Filipino farmers face in diversifying farms and operating farm sites and uses these challenges in crafting strategies and policies for relevant stakeholders. It also provides Philippine farm tourism literature to address the limitations of references in the topic.

The study adopts an exploratory type of inquiry method and secondary data collection from various sources, such as published journal articles, news articles and reports, to gain insights and relevant information on farm tourism. The study also uses a threats, opportunities, weaknesses and strengths analysis approach to develop competitive farm tourism strategies.

The Philippines, with vast agricultural land, has the necessary base for farm tourism, and the enactment of the Farm Tourism Development Act of 2016 bridges this potential. With low agricultural outputs, the country draws relevance for farm tourism as a farm diversification strategy to supplement income in rural communities. While having these potentials, crucial initiatives in physical characteristics, product development, education and training, management and entrepreneurship, marketing and customer relations and government support must be implemented. Farmers' lack of skills, training and capital investment potential to convert their farms into farm tourism sites serves as the major drawback. Thus, developing entrepreneurial and hospitality skills is crucial.

This work presents a historical narrative of initiatives and measures of the Philippine farm tourism sector. It also provides a holistic discussion and in-depth analysis of the current state, potentials, strategies and forward insights for farm tourism development.

Since the first definition of open innovation (OI), the indivisible relationship between this concept and entrepreneurship was undeniable. However, the exact mechanisms by which an entrepreneurial approach may benefit OI processes and vice versa are not yet fully understood. The study aims to offer an accurate map of the knowledge evolution of the OI–entrepreneurship relationship and interesting gaps to be filled in the future.

The study adopted a bibliometric analysis, coupled with a systematic literature review performed over a data set of 106 peer-reviewed articles published from 2005 to 2020 to identify thematic clusters.

The results show five thematic clusters: entrepreneurial opportunities, organisational opportunities, strategic partnership opportunities, institutional opportunities and digital opportunities for OI. Investigating each of them, the authors created a framework that highlights future avenues for further developing the topic.

This study is the first of its kind to systematise, analyse and critically interpret the literature concerned with the topic of the OI–entrepreneurship.

This paper aims to construct a process model of business founding in the biotech industry.

An inductive method is used, and five case studies analyzed. Data are coded by applying Gioia’s method.

Aspirant entrepreneurs conduct resource analysis and industry analysis to formulate research and development targets. They perform transactions and networks because they require resources, and they then deploy and coordinate these resources. Such coordination generates activities with social and financial impacts.

The results are specific to the biotech industry. A future study could examine business founding processes in other industries (e.g. entertainment, fashion, public utilities and sport). Additionally, the paper argues that during the founding process entrepreneurs show little concern for knowledge-sharing risk, as they want to collaborate to implement their ideas. Quantitative papers could test the consequences of such behavior.

The process model provides insights into aspirant founders on how to start a business in the biotech industry.

The paper shows: the differences between the founding process in the biotech industry versus other industries; and the shape of the Bower–Burgelman model in the context of biotech business founding. The paper delineates how private companies discover competencies in the public sector; a model of technology transfer from public to private sector; entrepreneurs’ absence of risk perceptions regarding knowledge-sharing during founding; and how conferences can serve as vehicles for benchmarking in networking.

Congruent with the world-wide call to combat global warming concerns and advance intellectual capital (IC), organisations are being pressured to ensure that IC is managed effectively to encourage green initiatives. In this regard, green entrepreneurial orientation (GEO) is emerged as a relevant IC. GEO is recognised as a mitigating factor of environmental degradation in the literature. Although prior literature has observed the nexus between GEO and firm performance, the role of GEO in leveraging sustainable performance has been limitedly explored. This study explored the relationship between IC as a GEO and enterprises' sustainable performance through the moderating roles of environmental consciousness and green technology dynamism (GTD) in the context of two developing countries (Pakistan and Malaysia).

Data provided by 296 respondents from 264 manufacturing small and medium-sized enterprises (SMEs) in Pakistan and Malaysia were analysed through a three-wave research design. AMOS 23 software was used to perform covariance-based structural equation modelling (CB-SEM), while hierarchical regression analysis was applied using the SPSS 25 software to examine the causal relationships in the model.

IC as a GEO significantly influences sustainable performance, akin to environmental consciousness and GTD. Besides, GTD has a significant moderating effect between GEO and financial and environmental performance in Pakistan and Malaysia but not between GEO and social performance. Environmental consciousness has a significant moderating role in the impact of GEO on financial performance in Pakistan and Malaysia, but not on social and environmental performance.

The study's findings are useful for managers of Pakistani and Malaysian manufacturing SMEs to identify ways to encourage GEO to improve sustainable performance in their firms. The findings suggest that managers should effectively implement GTD and environmental consciousness to strengthen the GEO and sustainable performance relationship. Managers can use GEO concretely as a reference for the companies that intend to support the United Nation SDG-2030 agenda and to find new business opportunities for the implementation of sustainable development.

To the best of the authors' knowledge, this study is the first to examine the link between GEO and sustainable performance in developing countries such as Pakistan and Malaysia. Although the influence of various intangible assets or IC on sustainable performance has been widely examined in the literature, the role of GEO as IC has been limitedly explored. This study extends the literature by adding to the knowledge of GEO as a form of firms' IC that enhances boundary conditions in developing countries.

This article examines how responsibility and strategy can and should be connected in a business organization.

The article offers a review of the field by mapping previous studies according to their strategy and responsibility orientations and, consequently, identifies the classic perspective, as well as the major deficiencies and prevailing research gaps in the literature.

The article contributes to the field of strategic corporate responsibility by reframing the field with a contender perspective that challenges the classic view of strategy and responsibility amalgamation. Together, the classic and the contender perspectives are synthesized to form an integrative perspective that is more holistic than those currently available.

The article ends by calling for a reimagining of the relationship between corporate responsibility and strategy to find promising future research avenues and effective business practices suitable to meet the challenges of the twenty-first century.

This paper aims to elucidate the relationship between entrepreneurial orientation, reverse innovation and international performance of emerging economy multinational enterprises (EMNEs).

The authors analyze archival data of Chinese limited companies between 2010 and 2016, including 11,230 firm-year observations about 1708 firms. In order to test the study’s mediation hypotheses, the authors apply an ordinary least square (OLS) regression.

The authors find evidence that the entrepreneurial orientation of EMNEs has a positive effect on reverse innovations. Furthermore, the authors find positive effects of reverse innovation on the international performance of EMNEs. This pattern of results suggests that the relationship between entrepreneurial orientation and international performance is partially mediated by reverse innovation.

The study’s findings help managers in EMNEs to promote reverse innovation by building and using their entrepreneurial orientation. It also helps them to set out and gauge the chances of success of their internationalization strategies. The findings also hold relevance for firms in developed economies as well, as they may understand which emerging economy competitors stand to threaten their positions.

The strategic role of reverse innovations – i.e. clean slate, super value and technologically advanced products originating from emerging markets – has generated considerable research attention. It is clear that reverse innovations impact the international performance of EMNEs. Yet how entrepreneurial orientation influences international performance is still underexplored. Thus, the current study clarifies the mechanism by examining and testing the mediating role of reverse innovation among the entrepreneurial orientation–international performance link.

This study aims to analyze the impact of different exit alternatives, investor presence and founders’ human capital on the exit value of European venture capital (VC)-backed high technology startups.

The empirical analysis is based on a sample of 107 European firms that obtained an exit through Merger&Acquisition (M&A) or an initial public offering (IPO) between 2010 and 2017, backed by VC investors.

This study provides empirical evidence on how different exit alternatives, investor heterogeneity and founders’ human capital may affect the exit value of European VC-backed startups. Exiting through an IPO and retaining a larger equity stake are positively correlated with the exit value. The presence of business angels and non-governmental VC firms is associated with larger valuations. Founders’ previous education was positively correlated with the exit value.

Exit strategies in technology startups are essential to capitalize investors’ efforts and reinvest cash into new ventures, supporting the development of entrepreneurial ecosystems and countries’ competitiveness. The results of this study provide interesting hints for policymakers and contribute to an in-depth understanding of the drivers of exit valuation for startups.