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Article
Publication date: 18 December 2020

Hossein Mehdizadeh, Hesamedin Gholami, Nematollah Shiri and Mojgan Khoshmaram

Although extensive governmental efforts have taken place to promote entrepreneurship in Iran, based on global entrepreneurship monitor report, the rate of perceived opportunities…

Abstract

Purpose

Although extensive governmental efforts have taken place to promote entrepreneurship in Iran, based on global entrepreneurship monitor report, the rate of perceived opportunities among young people, especially those with university education, has dropped. Since the perceived entrepreneurial opportunities are the first and most important step in the entrepreneurship process, this study identified the factors affecting the entrepreneurial opportunity recognition in Iranian higher education.

Design/methodology/approach

The statistical population included 127 senior undergraduate students in all majors of agriculture at Ilam University. The sample size was determined by using the Krejcie and Morgan’s (1970) sampling table to be 100 senior undergraduate agriculture students at Ilam University, Ilam province, Iran, selected through a stratified random sampling technique.

Findings

The results showed that the perceived entrepreneurial opportunity among students was moderately low. According to structural equation modeling, the alertness, human capital, social capital and environmental support variables had a positive and significant effect on the entrepreneurial opportunity recognition.

Research limitations/implications

Regarding the research implications, the present study, with providing and testing a model for developing the entrepreneurial opportunity recognition among students in a developing country (Iran) with diverse cultures and values, has improved the literature of entrepreneurship in higher education.

Practical implications

Based on results instructors in higher agricultural education can use active teaching and learning methods, such as creating ideas, experiential and service learning, teamwork and practical work, critical thinking and problem-solving in education. Also, financial, technical and consultative support of instructors and managers in agricultural colleges to implement, launch and commercialize agricultural students' entrepreneurial ideas and projects is needed.

Originality/value

The findings indicated the importance of alertness, human capital, social capital and environmental support on the entrepreneurial opportunity recognition among students. Findings showed that ecological approach could be used to develop students' entrepreneurial opportunity recognition.

Details

Journal of Applied Research in Higher Education, vol. 13 no. 4
Type: Research Article
ISSN: 2050-7003

Keywords

Article
Publication date: 21 December 2021

Hongyu Ma, Yongmei Carol Zhang, Allan Butler, Pengyu Guo and David Bozward

China has a new rural revitalization strategy to stimulate rural transformation through modernizing rural areas and resolving their social contradictions. While social capital is…

Abstract

Purpose

China has a new rural revitalization strategy to stimulate rural transformation through modernizing rural areas and resolving their social contradictions. While social capital is recognized as an important element to rural revitalization and entrepreneurship, research into the role of psychological capital is less developed. Therefore, this paper assesses the impact of both social and psychological capital on entrepreneurial performance of Chinese new-generation rural migrant entrepreneurs (NGRMEs) who have returned to their homes to develop businesses as part of the rural revitalization revolution.

Design/methodology/approach

Based on a survey, data were collected from 525 NGRMEs in Shaanxi province. This paper uses factor analysis to determine variables for a multiple linear regression model to investigate the impacts of dimensions of both social capital and psychological capital on NGRMEs’ entrepreneurial performance.

Findings

Through the factor analysis, social capital of these entrepreneurs consists of five dimensions (reputation, participation, networks, trust and support), psychological capital has three dimensions (innovation and risk-taking, self-efficacy and entrepreneurial happiness) and entrepreneurial performance contains four dimensions (financial, customer, learning and growth, and internal business process). Furthermore, the multiple linear regression model empirically verifies that both social capital and psychological capital significantly influence and positively correlate with NGRMEs' entrepreneurial performance.

Originality/value

This study shows the importance of how a mixture of interrelated social and psychological dimensions influence entrepreneurial performance that may contribute to the success of the Chinese rural revitalization strategy. This has serious implications when attempting to improve the lives of over 100 million rural Chinese citizens.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 28 no. 2
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 22 June 2020

Andrei Alexander Lux, Flávio Romero Macau and Kerry Ann Brown

This paper extends entrepreneurial ecosystems theory by testing how aspects of the local business environment affect individual entrepreneurs' ability to translate their personal…

4834

Abstract

Purpose

This paper extends entrepreneurial ecosystems theory by testing how aspects of the local business environment affect individual entrepreneurs' ability to translate their personal resources into firm performance.

Design/methodology/approach

Data were collected from 223 business owners across Australia. Moderation hypotheses were tested using multiple hierarchical regression and confirmed with the Preacher and Hayes (2004) bootstrapping method.

Findings

The results show that business owners' psychological capital, social capital and entrepreneurial education directly affect their individual firm performance. These positive relations are moderated by specific aspects of the business environment, such that they are stronger when the environment is more favorable.

Originality/value

This study puts individual business owners back into entrepreneurial ecosystems theory and explains how they can make the most of their personal resources, suggesting a complex interplay where one size does not fit all. Far-reaching practical implications for policymakers are discussed.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 26 no. 5
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 5 August 2021

Richard Hanage, Pekka Stenholm, Jonathan M. Scott and Mark A.P. Davies

The purpose of this paper is to respond to the call by McMullen and Dimov (2013) for a clearer understanding of entrepreneurial journeys by investigating the entrepreneurial

Abstract

Purpose

The purpose of this paper is to respond to the call by McMullen and Dimov (2013) for a clearer understanding of entrepreneurial journeys by investigating the entrepreneurial capitals and micro-processes of seven young early stage entrepreneurs who all exited their businesses within 3 years of start-up.

Design/methodology/approach

The authors analysed empirical data from concurrent in-depth interviews which generated rich longitudinal case studies. Theory-building then led to a proposed “Longitudinal Dynamic Process Framework” of entrepreneurial goals, processes and capitals.

Findings

The framework builds on prior studies by integrating entrepreneurial processes and decisions into two feedback loops based on continuous review and learning. It thereby enhances understanding of the dynamics of new business development and unfolds the early stage ventures entrepreneurs' business exits.

Research limitations/implications

The findings are based on a small purposive sample. However, the main implication for research and theory is showing how the entrepreneurial capitals are dynamic and influenced by entrepreneurs' environment, and also separating entrepreneurs' personal issues from their business issues.

Practical implications

The findings challenge some assumptions of policymakers and offer new insights for practitioners and early stage entrepreneurs. These include having more realistic case-studies of the entrepreneurial journey, recognizing the need to be agile and tenacious to cope with challenges, understanding how capitals can interact in complementary ways and that entrepreneurial processes can be used to leverage them at appropriate stages of the start-ups.

Originality/value

The concurrent longitudinal analysis and theory-building complements extant cross-sectional studies by identifying and analysing the detailed processes of actual business start-ups and exits. The proposed framework thereby adds coherence to earlier studies and helps to explain early stage entrepreneurial development, transformation of capitals and business exit.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 27 no. 7
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 4 December 2020

Inge R. Hill

The article's purpose is to demonstrate how UK artisan entrepreneurs organise entrepreneurial activities within the context of a creative industry organisation. The research asks…

Abstract

Purpose

The article's purpose is to demonstrate how UK artisan entrepreneurs organise entrepreneurial activities within the context of a creative industry organisation. The research asks how artisan entrepreneurs draw on contexts to manage entrepreneurial activities. The article investigates how these entrepreneurs organise collaborative business solutions through the lens of entrepreneurial capitals and their conversion.

Design/methodology/approach

The research study employed a phenomenological approach to analyse the situated entrepreneurial activities of artisan entrepreneurs. Ethnographic methods assisted in capturing these activities.

Findings

The findings demonstrated the context-dependent collaborative business solutions by artisan entrepreneurs. Such solutions emerge from the interplay of the materiality of buildings, social relations management and personal resources. This materiality facilitates creative forms of social relations management for entrepreneurial activities between artisan entrepreneurs.

Practical implications

The discussed entrepreneurial collaborative solutions are beneficial for many entrepreneurs in fragmented working conditions.

Originality/value

The detailed discussion of how artisan entrepreneurs organise entrepreneurial activities individually and collaboratively sheds light on dynamic microprocesses in context. The lens of entrepreneurial capitals and their conversion for these microprocesses integrates the literature on capital conversions with context as the main contribution to theory. This lens allows to home in on social relations and material environment management adding more fine-grained insights into how these micro-exchange processes work. These insights contribute to the literature on artisan entrepreneurship in the creative industries and entrepreneurship and context.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 27 no. 1
Type: Research Article
ISSN: 1355-2554

Keywords

Book part
Publication date: 15 August 2007

Douglas J. Cumming

U.S. venture capital financings of U.S. entrepreneurial firms with up to 213 observations are consistent with the proposition that convertible preferred equity is the optimal form…

Abstract

U.S. venture capital financings of U.S. entrepreneurial firms with up to 213 observations are consistent with the proposition that convertible preferred equity is the optimal form of venture capital finance. This paper introduces new evidence from 208 U.S. venture capital financings of Canadian entrepreneurial firms. In contrast to U.S. venture capital investments in U.S. entrepreneurial firms, U.S. venture capitalists finance Canadian entrepreneurial firms with a variety of forms of finance. The differences between domestic and international U.S. venture capitalist financing structures are not attributable to differences in the definition of the term ‘venture capital’. The data point to the importance of institutional determinants of venture capitalist capital structures within the U.S. and abroad. Among other things, the data indicate that U.S. venture capitalists often do not choose convertible preferred shares in the absence of tax considerations in favor of that financing vehicle.

Details

Issues in Corporate Governance and Finance
Type: Book
ISBN: 978-1-84950-461-4

Article
Publication date: 28 June 2013

Ming‐Huei Chen and Yu‐Yu Chang

This paper aims to extend current understanding about the relationship between human capital and new venture performance. Human capital has increasingly become one of the critical…

3495

Abstract

Purpose

This paper aims to extend current understanding about the relationship between human capital and new venture performance. Human capital has increasingly become one of the critical intellectual resources in enhancing firm's success, however little work has been done in enriching the knowledge of this link from a small entrepreneurial new venture context. Many researchers have studied human capital from various angles, but few have analyzed human capital's influence on firm performance from entrepreneurial competence, motivation and creativity perspectives to ascertain their effects on new venture performance, including profit generation and patent creation.

Design/methodology/approach

This study was conducted using 155 small technology‐based new ventures located in government incubators on university campuses throughout Taiwan.

Findings

The authors found that entrepreneurial experience, manpower and creativity have positive impact on new venture's performance assessed by using profitability and patents creation as the criterion variables. Amongst all predictors, entrepreneurial manpower was found to have the strongest effect on both profitability and patent creation. The most interesting finding, however, stemmed from a component of entrepreneurial motivation the authors created, pioneering motivation. This unique form of motivation, to explain the extreme determination and time involved in starting a new business, was found to have a significantly negative effect on patent creation.

Research limitations/implications

This study identifies the variety of entrepreneurial human capital and the importance of human capital's multidimensionality in entrepreneurship research. In this paper, the authors integrated some meaningful components of human capital which have been neglected in previous entrepreneurship studies. The paper's findings add to knowledge of how investments in entrepreneurial human capital, such as work experience, manpower, and creativity, influence performance outcomes at the early stages of the entrepreneurial process.

Originality/value

This paper provides a useful guideline for entrepreneurs by investigating new venture performance with seven less‐emphasized but important components of human capital. The authors identified the most influential components of entrepreneurial human capital (i.e. experience, manpower, and creativity) that a new venture should cultivate for improving its performance.

Details

Journal of Knowledge-based Innovation in China, vol. 5 no. 2
Type: Research Article
ISSN: 1756-1418

Keywords

Article
Publication date: 8 May 2018

Zhenzhong Ma, Jinwei Zhu, Yong Meng and Ying Teng

Entrepreneurship research clearly documents the importance of human and social capital and stresses the way in which entrepreneurs take advantage of their own social affiliations…

1440

Abstract

Purpose

Entrepreneurship research clearly documents the importance of human and social capital and stresses the way in which entrepreneurs take advantage of their own social affiliations and network strategies in pursuit of their entrepreneurial goals, yet the research on returnee entrepreneurs’ human and social capital is not sufficiently studied in the international context, in particular when returnees’ overseas human capital and social capital may be a misfit with local business environment. Using the data from Chinese returnee entrepreneurs’ venture activities in China, the purpose of this paper is to examine the impact of returnee entrepreneurs’ overseas capital (human and social) and domestic capital (human and social) on their venture performance in China, and further explore the interaction effect of different social and human capital with China’s entrepreneurial environment.

Design/methodology/approach

This study surveyed 500 start-up businesses created by returnee entrepreneurs in China to collect data. Self-administered questionnaires were used to collect data on their demographic information, the information about the human and social capital of these returnee entrepreneurs, including domestic and overseas capital, various performance measures, and other control variables ending up with 226 usable questionnaires.

Findings

The results show that Chinese returnee entrepreneurs’ overseas human capital and social capital, as well as their domestic social capital, but not domestic human capital, have a significant impact on their venture performance. In addition, while domestic entrepreneurial environment does not affect the impact of overseas human and social capital on venture performance, it does provide an important contextual setting for domestic capital to improve returnee entrepreneurs’ venture performance.

Originality/value

The findings help enrich the understanding of the dynamic interplays among Chinese returnee entrepreneurs’ domestic human capital and social capital, overseas human capital, and social capital, as well as the entrepreneurial environment for returnee entrepreneurs’ success, which makes an important contribution to the international entrepreneurship theory by showing that overseas human capital and social capital are not a misfit with local markets. It also provides empirical support for the mediating effect of entrepreneurial opportunity identification. The important role of entrepreneurial opportunity is empirically supported in an international context: entrepreneurship is all about the discovery of entrepreneurial opportunities and exploitation of this opportunity to create viable business entities for new products and services, even in the Chinese context, a culture which is very different from the ones where the entrepreneurship theory was developed.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 25 no. 1
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 27 March 2009

Eleanor Shaw, Susan Marlow, Wing Lam and Sara Carter

The purpose of this paper is to discuss the interplay between gender, entrepreneurial capital and firm performance. Using matched sample data, the paper considers how gender…

2466

Abstract

Purpose

The purpose of this paper is to discuss the interplay between gender, entrepreneurial capital and firm performance. Using matched sample data, the paper considers how gender shapes the possession of entrepreneurial capital and discusses the implications of capital variance for business performance.

Design/methodology/approach

The methodology was designed to collect data about the entrepreneurial capital of small firm owners and the performance of their firms. A sample of 30 matched pairs of business owners (30 male, 30 female) was created. Data were collected in two stages involving a telephone survey followed by face to face semi‐structured interviews.

Findings

The findings reveal an interplay between economic, human, social and symbolic capital and suggest that our understanding of the possession and impact of entrepreneurial capital on firm performance can be advanced by recognising the convertible nature of entrepreneurial capitals. The paper also draws attention to the impact which human capital, particularly age and experience, can have on the accumulation of entrepreneurial capital.

Research limitations/implications

The paper identified the value in exploring the convertibility of entrepreneurial capitals and the benefits of investigating all forms of capital.

Practical implications

The paper identifies gender as a critical influence and suggests that the relationship between gender and engagement in entrepreneurship should be more fully understood and addressed by policies designed to encourage and support business ownership.

Originality/value

The theoretical and methodological framework developed for this study lays the foundation for extending and developing literature on entrepreneurial capital and firm performance research.

Details

International Journal of Gender and Entrepreneurship, vol. 1 no. 1
Type: Research Article
ISSN: 1756-6266

Keywords

Abstract

Details

Reflections and Extensions on Key Papers of the First Twenty-Five Years of Advances
Type: Book
ISBN: 978-1-78756-435-0

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