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1 – 10 of over 1000
Article
Publication date: 9 September 2022

Mengfei Zhu and Yitao Tao

This study investigates the impact of economic policy uncertainty on corporation innovation in innovative cities. The study sheds light on different results from the previous…

Abstract

Purpose

This study investigates the impact of economic policy uncertainty on corporation innovation in innovative cities. The study sheds light on different results from the previous literature by testing the moderator effects of entrepreneurial risk appetite on such impact.

Design/methodology/approach

A static panel estimator is applied to a Chinese sample of 416 firm-year observations from 2010 to 2019. This paper uses regression model to test the impact of uncertainty on enterprise innovation in innovative cities, and to test the regulatory role of entrepreneurial risk appetite. For a series of robustness analysis conducted by the author to deal with endogeneity, the results are robust.

Findings

The author finds reliable evidence that the economic policy uncertainty can promote corporations to invest more in R&D in innovative cities. In addition, the role of the entrepreneurial initiative is significant, and there is a positive moderating effect of entrepreneurial risk appetite between policy uncertainty and corporation innovation.

Research limitations/implications

From a practical point of view, this study examines the impact of economic policy uncertainty on corporation innovation in innovative cities for the first time. It emphasizes the role of entrepreneurial risk-taking in the development of corporation innovation in Shenzhen, an innovative city. This research is of great significance to the formulation of government policies and the innovative choice of entrepreneurs. In addition, the research shows that the entrepreneurial risk appetite in innovative cities can have a positive impact on enterprise innovation. Therefore, when formulating policies, the government should take the subjective factors of entrepreneurs into account and support enterprises with innovation potential. The evidence of this study also helps entrepreneurs make innovative decisions and enhance their confidence in enterprise development.

Originality/value

By studying the impact of economic policy uncertainty on enterprise innovation under the regulation of enterprise risk appetite, this study shows the subjective and positive role of entrepreneurs in risk grasp in innovative cities for the first time. In addition, it fills the gap of the impact of policy uncertainty on innovative urban enterprises. In fact, although it is traditionally believed that economic policy uncertainty has a negative impact on enterprise innovation, the sensitive findings of this study reveal completely different results from previous studies.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 17 October 2023

Shuqin Bao, Wenwen An, Aihuan Wang and Shunjun Luo

Effectuation, which articulates the process of entrepreneurial action based on nonpredictive control logic, is receiving extensive scholarly attention. What drives the effectual…

Abstract

Purpose

Effectuation, which articulates the process of entrepreneurial action based on nonpredictive control logic, is receiving extensive scholarly attention. What drives the effectual entrepreneurship is featured with high complexity. However, existing studies ignored the complex driving forces underlying entrepreneurial decision-making. Building on a configurational perspective, the purpose of this study was to examine the combinative effects of environmental uncertainty and entrepreneurs’ means on effectual entrepreneurship.

Design/methodology/approach

Drawing on 54 entrepreneurs who are launching new ventures in China, this study adopts a fuzzy-set Qualitative Comparative Analysis (fsQCA) to investigate two sets of antecedent conditions and how they form different combinations for a highly effectual entrepreneurship.

Findings

Our findings disclose four highly effectual entrepreneurship paths involving novice–specialist effectual entrepreneurship in a highly uncertain environment, socialite–specialist effectual entrepreneurship in a highly uncertain environment, pure-specialist effectual entrepreneurship and resourceful effectual entrepreneurship, and one path of barefoot noneffectual entrepreneurship in a highly uncertain environment, which reveals the complex nature of environmental uncertainty and entrepreneurs’ means in driving entrepreneurs to adopt effectuation.

Originality/value

Our study makes the following contributions. First, by taking a configurational perspective, we are able to obtain an elaborate view of the combined effects of environmental uncertainty and entrepreneurs’ means on effectual entrepreneurship. Second, we expand prior thinking on the relationship between environmental uncertainty and effectuation. Third, our study offers a more delicate understanding of entrepreneurs’ means in driving effectuation by splitting means into three separate factors.

Details

Chinese Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-614X

Keywords

Article
Publication date: 12 October 2022

Eijaz Ahmed Khan, Md. Maruf Hossan Chowdhury, Mohammad Alamgir Hossain, A.K.M. Shakil Mahmud, Abdullah M. Baabdullah and Yogesh K. Dwivedi

Society's concerns about environmental degradation have tightened competitive pressure and brought new challenges to small firms. Against this backdrop, this study develops a…

Abstract

Purpose

Society's concerns about environmental degradation have tightened competitive pressure and brought new challenges to small firms. Against this backdrop, this study develops a decision model to determine a suitable configuration for entrepreneurial orientation to help small firms manage circular economy challenges and improve their performance.

Design/methodology/approach

This study used a multi-study and multi-method approach. Study 1, through qualitative in-depth interviews, identified a portfolio of circular economy challenges and entrepreneurial-orientation components. Study 2 applied the quality function deployment technique to determine the most important components of entrepreneurial orientation. Study 3 adopted a fuzzy set qualitative comparative analysis to determine the best configuration for challenges and components.

Findings

The findings reveal a set of challenges and identify the salient need to combine the negation of these challenges with the components of entrepreneurial orientation; this combination will improve the performance of small firms. The research extends the current knowledge of managing circular economy challenges and offers decision-makers insights into improving their resilience.

Originality/value

The use of the dynamic capability view, together with the multi-study and multi-method approach, may lead to an appropriate reconfiguration of entrepreneurial orientation, which, to date, has received limited empirical attention in the small-business-management discipline.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 24 October 2021

Maqsood Ahmad

The aim of this paper is to systematically review the literature published in recognized journals focused on recognition-based heuristics and their effect on investment management…

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Abstract

Purpose

The aim of this paper is to systematically review the literature published in recognized journals focused on recognition-based heuristics and their effect on investment management activities and to ascertain some substantial gaps related to them.

Design/methodology/approach

For doing research synthesis, systematic literature review approach was applied considering research studies published within the time period, i.e. 1980–2020. This study attempted to accomplish a critical review of 59 studies out of 118 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioural finance domain-related explicitly to recognition-based heuristics and their effect on investment management activities.

Findings

The survey and analysis suggest investors consistently rely on the recognition-based heuristic-driven biases when trading stocks, resulting in irrational decisions, and an investment strategy constructed by implementing the recognition-based heuristics, would not result in better returns to investors on a consistent basis. Institutional investors are less likely to be affected by these name-based behavioural biases in comparison to individual investors. However, under the context of ecological rationality, recognition-based heuristics work better and sometimes dominate the classical methods. The research scholars from the behavioural finance community have highlighted that recognition-based heuristics and their impact on investment management activities are high profile areas, needed to be explored further in the field of behavioural finance. The study of recognition-based heuristic-driven biases has been found to be insufficient in the context of emerging economies like Pakistan.

Practical implications

The skilful understanding and knowledge of the recognition-based heuristic-driven biases will help the investors, financial institutions and policy-makers to overcome the adverse effect of these behavioural biases in the stock market. This article provides a detailed explanation of recognition-based heuristic-driven biases and their influence on investment management activities which could be very useful for finance practitioners’ such as investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/ broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making its financial management strategies.

Originality/value

Currently, no recent study exists, which reviews and evaluates the empirical research on recognition-based heuristic-driven biases displayed by investors. The current study is original in discussing the role of recognition-based heuristic-driven biases in investment management activities by means of research synthesis. This paper is useful to researchers, academicians, and those working in the area of behavioural finance in understanding the role that recognition-based heuristics plays in investment management activities.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 4 January 2024

Lizhu Yu Davis, Li Zhao, Dean Davis and Yuhui Liu

Using resource-based theory and social cognitive theory, this study aimed to investigate crucial resources that new US fashion ventures need to survive the initial stage of…

Abstract

Purpose

Using resource-based theory and social cognitive theory, this study aimed to investigate crucial resources that new US fashion ventures need to survive the initial stage of business development. It also intended to discover the role and characteristics of founders that contribute to the success of a fashion business, as well as challenges and struggles that fashion entrepreneurs face.

Design/methodology/approach

For the study, a qualitative research method with in-depth personal interviews was conducted. Participants were recruited through purposeful sampling methods. Using a grounded theory approach, we analyzed the approximately 308 pages of primary source data, transcribed from the records of the interviews.

Findings

Findings were categorized into three major themes. First, financial resources and literacy, marketing, merchandising, as well as legal resources were identified as critical resources at the firm level. Second, at the individual level, four important human agency factors, including intentionality, forethought, reactiveness and reflectiveness were revealed as essential for the success of fashion entrepreneurs. Lastly, relationships and networks were highlighted at both firm and individual levels.

Originality/value

This study contributes to the understanding of fashion entrepreneurship, an understudied area. The study identified critical resources for the success of fashion startups, especially during the initial business development process. The findings also emphasized the importance of human agency factors and networks at both firm and individual levels.

Details

Journal of Fashion Marketing and Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1361-2026

Keywords

Article
Publication date: 30 August 2023

Sneha Badola, Aditya Kumar Sahu and Amit Adlakha

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore…

Abstract

Purpose

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore the behavioral bias literature and propose a comprehensive framework that can elucidate a more reasonable explanation of changes in financial markets and investors’ behavior.

Design/methodology/approach

Systematic literature review (SLR) methodology is applied to a portfolio of 71 peer-reviewed articles collected from different electronic databases between 2007 and 2021. Content analysis of the extant literature is performed to identify the research themes and existing gaps in the literature.

Findings

This research identifies publication trends of the behavioral biases literature and uncovers 24 different biases that impact individual investors’ decision-making. Through thematic analysis, an attribute–consequence–impact framework is proposed that explains different biases leading to individual investors’ irrationality. The study further proposes directions for future research by applying the theory–characteristics–context–methodology framework.

Research limitations/implications

The results of this research will help scholars and practitioners in understanding the existence of various behavioral biases and assist them in identifying potential strategies which can evade the negative effects of these biases. The findings will further help the financial service providers to understand these biases and improve the landscape of financial services.

Originality/value

The essence of the current paper is the application of the SLR method on 24 biases in the area of behavioral finance. To the best of the authors’ knowledge, this study is the first attempt of its kind which provides a methodical and comprehensive compilation of both cognitive and emotional behavioral biases that affect the individual investor’s decision-making.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 12 February 2024

Sha Xu, Xiaojie Wu, Jie He, Renhong Zhu, Alastair M. Morrison and Cheng Xie

Although it is acknowledged that entrepreneurial networks play a crucial role in fostering business model innovation (BMI) for start-ups, it is unclear how and when these networks…

Abstract

Purpose

Although it is acknowledged that entrepreneurial networks play a crucial role in fostering business model innovation (BMI) for start-ups, it is unclear how and when these networks affect BMI. This research developed a moderated mediation model to explore the impact of entrepreneurial networks on BMI in start-ups and examined the dual mediating effects of causation and effectuation, as well as the moderation of environmental dynamism.

Design/methodology/approach

The proposed framework was tested by hierarchical regression analyses and bootstrapping using samples of 248 start-ups in China.

Findings

The results showed that entrepreneurial networks significantly positively impacted start-up BMI. Causation and effectuation played dual mediating roles between entrepreneurial networks and BMI. Furthermore, the entrepreneurial networks-effectuation-BMI association was more substantial in highly dynamic environments, whereas the entrepreneurial networks-causation-BMI relationship was unaffected.

Research limitations/implications

There are several theoretical contributions resulting from this research. The findings offer new insights for understanding the antecedents of start-up BMI from the network perspective. This research adds to the growing literature on resource orchestration (RO) by exploring the dual mediating influences of causation and effectuation in resource management. This investigation revealed the boundary condition between entrepreneurial networks and BMI by testing the moderating influence of environmental dynamism.

Practical implications

Start-ups must effectively use external resources embedded within networks to advance BMI. Start-up entrepreneurs should apply causation and effectuation to transform entrepreneurial network resources into BMI. Start-up entrepreneurs must dynamically manage resources in response to ever-changing environmental conditions. Resource acquisition and management of entrepreneurial networks can vary significantly in their influence on start-up BMI under different environmental contexts.

Originality/value

Unlike previous BMI research focused on internal organizational factors, this study highlighted the critical importance of entrepreneurial networks as a prerequisite for achieving start-up BMI, contributing to the literature on open innovation and resource-based view. Examining the dual mediating roles of causation and effectuation illustrated the bridging role of strategic decision-making logic in connecting resources to value creation, contributing to the developing RO literature. The moderating influence of environmental dynamism was explored, clarifying how start-up BMI benefits from entrepreneurial networks in differing situations. A framework for reconciling contradictory findings concerning the association between entrepreneurial networks and innovation is provided.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 18 March 2024

Aqueeb Sohail Shaik, Monika Jain, Aparna Mendiratta, Ghadah Alarifi and Elisa Arrigo

The purpose of this study is to investigate the significance and impact of strategic knowledge management (SKM) practices and organisational change capacity (OCC) in improving…

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Abstract

Purpose

The purpose of this study is to investigate the significance and impact of strategic knowledge management (SKM) practices and organisational change capacity (OCC) in improving strategic thinking and strategic orientation in small and medium-sized enterprises (SMEs) and their contribution in overall improvement of entrepreneurial performance.

Design/methodology/approach

Quantitative research methodology using partial least square structural equation modelling with data of 296 sample from the target group as managers and owners from various SMEs in the UK has been used in the study.

Findings

The findings suggest that SMEs that invest in SKM and OCC are more proficient at adjusting to fluctuations in the business landscape and develop effective strategies that lead to improved entrepreneurial performance. The study provides evidence that SKM encompasses more than just the acquisition and use of information. It also involves the establishment of a learning and innovation culture that facilitates strategic thinking and direction. Similarly, OCC is not just about implementing change but also about developing the agility and flexibility to adapt to market changes, consumer demands and technology.

Practical implications

According to the research, SMEs may boost their entrepreneurial performance and keep a competitive advantage in the modern, dynamic business environment by investing in SKM and OCC. The capacity of SMEs to implement SKM and organisational change should be encouraged and supported by policymakers and practitioners, who should also offer the necessary tools and assistance to do so.

Originality/value

This study offers a valuable addition to the previously published works on SKM and OCC within SMEs. It offers empirical data that highlights the significance of SKM and OCC in fostering strategic thinking, strategic orientation and ultimately, boosting entrepreneurial performance. The study also highlights the challenges faced by SMEs in implementing SKM and OCC and provides recommendations for overcoming these challenges.

Article
Publication date: 1 September 2023

Liridon Kryeziu, Besnik A. Krasniqi, Mehmet Bağış, Vjose Hajrullahu, Genc Zhushi, Donika Bytyçi and Mirsim Ismajli

This study aims to examine the impact of regulatory, normative and cultural cognitive institutions and firm and individual factors on entrepreneurial behavior.

Abstract

Purpose

This study aims to examine the impact of regulatory, normative and cultural cognitive institutions and firm and individual factors on entrepreneurial behavior.

Design/methodology/approach

Using the quantitative research method, the authors collected data from 316 micro, small and medium enterprises (MSMEs) in Kosovo, a transition economy, through a cross-sectional research design. The authors performed exploratory factor analyses, correlation and regression analyses on the data using SPSS 26 and STATA software.

Findings

The research findings indicate that, within transition economies, normative and cultural-cognitive institutions have a positive impact on entrepreneurial behaviors. The authors could not determine the effect of regulatory institutions on entrepreneurial behavior. The authors also discovered that young firms are more inclined toward entrepreneurial behavior than older firms, and micro firms display a stronger entrepreneurial behavior than small firms. Furthermore, family businesses showed a greater tendency for entrepreneurial behavior than nonfamily firms. Interestingly, when the rational decision-making interacts with regulatory institutions, the effect on entrepreneurial behavior is negative.

Research limitations/implications

This study employed a cross-sectional approach to investigate the influence of macro, meso, and micro-level factors on entrepreneurial behavior within a transitioning community across three industries. Future studies could replicate these findings within comparable institutional contexts, employing longitudinal studies that include additional variables beyond those considered in our present study.

Practical implications

Considering the importance of MSMEs for a country’s economic and sustainable development, the authors provide some policy implications. The authors recommend managers carefully evaluate the information gathered while they decide and also increase their capabilities concerning digitalization, which is crucial for their firm’s survival, growth and sustainable competitive advantage.

Originality/value

This paper contributes to the literature and shows and analyses entrepreneurial behavior at institutional (macro), firm-level factors (meso) and managers' rational decision-making (micro), providing evidence from a transition community.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6204

Keywords

Open Access
Article
Publication date: 8 August 2023

Nastaran Simarasl, Pooya Tabesh and Younggeun Lee

This research aims to theorize how a critical factor, resource access, can paradoxically impact the comprehensiveness of venture location decision processes and the relationship…

Abstract

Purpose

This research aims to theorize how a critical factor, resource access, can paradoxically impact the comprehensiveness of venture location decision processes and the relationship between decision comprehensiveness and new venture performance. To do so, the authors focus on nascent entrepreneurs’ venture location decision processes and introduce resource access as a double-edged sword.

Design/methodology/approach

In this conceptual article, the authors draw from the strategic decision-making and resource mobilization literature to theorize about the new venture location decision-making process and its performance implications.

Findings

By uncovering the paradox of resource access, the authors propose that high levels of resource access create a paradoxical situation in which nascent entrepreneurs are less likely to use comprehensive decision processes when their benefits are at their greatest.

Originality/value

This work contributes to entrepreneurship research on new venture location and resource mobilization in three important ways. First, the authors advance the literature on nascent entrepreneurs’ location decision-making processes by introducing “location decision comprehensiveness” as a decision process construct and juxtaposing it with resource access to uncover the entrepreneurial decision-making process. Second, the authors develop a more nuanced theorization of the location choices made by nascent entrepreneurs instead of relying on generalized conclusions drawn from well-established corporations’ location decisions. Last, the authors extend the literature on resource mobilization in entrepreneurship by shedding light on the paradoxical aspect of resource access. While previous research has emphasized the favorable effects of resource access on new venture processes and outcomes, the authors contend that it can also negatively impact entrepreneurs’ ability to make effective decisions.

Details

New England Journal of Entrepreneurship, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2574-8904

Keywords

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