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Article
Publication date: 4 April 2016

Baoshan Ge, Yaqing Sun, Yong Chen and Yang Gao

Guided by the proposed opportunity and resource integrative entrepreneurial growth model, the purpose of this paper is to explore how different opportunity type firms grow…

Abstract

Purpose

Guided by the proposed opportunity and resource integrative entrepreneurial growth model, the purpose of this paper is to explore how different opportunity type firms grow integrally and what the laws for different opportunity integration growth modes are.

Design/methodology/approach

A multiple case study on six firms in information and communication technologies industry in China is conducted.

Findings

Three types of entrepreneurial opportunities exist. These are identification type opportunity, discovery type opportunity, and creation type opportunity. Entrepreneurship among the three types of entrepreneurial opportunities operates under different laws. For each type of entrepreneurial opportunity, firms need to balance the two growth modes, namely, the opportunity identification and assessment/resource allocation mode and the opportunity utilization and resource identification/acquisition mode, in order to achieve a leveraging effect.

Research limitations/implications

Vertical comparison is missing.

Practical implications

Firms need to balance the two growth modes, namely, opportunity identification and assessment and resource allocation mode and opportunity utilization and resource identification and acquisition mode, to achieve leverage effect.

Originality/value

This paper integrates system theory with entrepreneurship research and proposes the opportunity and resource integrative entrepreneurial growth model. This model is helpful, both in aiding firms to follow the laws for entrepreneurial opportunities and to identify entrepreneurial opportunities. The business model plays a vital role in entrepreneurship. Firms taking advantage of the Internet of Things are more likely to gain a competitive advantage and to achieve success in their entrepreneurial activities.

Details

Internet Research, vol. 26 no. 2
Type: Research Article
ISSN: 1066-2243

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Book part
Publication date: 31 August 2016

Violina P. Rindova, Luis L. Martins and Adrian Yeow

Strategic management research has shown growing interest in understanding the dynamic resource reconfiguration processes through which firms grow, evolve, and sustain…

Abstract

Strategic management research has shown growing interest in understanding the dynamic resource reconfiguration processes through which firms grow, evolve, and sustain profitability. The goal of our study is to understand how dynamic resource reconfigurations enable firms to pursue growth opportunities. We use the methods of inductive theory building from case studies to elaborate current theoretical understanding about how firms draw on both internal and external resources in the pursuit of growth. We examine the patterns of resource reconfigurations through which Yahoo and Google powered their early growth strategies in their first 10 years of existence. We analyze a total of 192 new product launches in 43 markets by the two firms to capture how they reconfigured resources dynamically. Our analysis reveals that both firms developed highly dynamic strategies exhibiting both surprising similarities and differences. These similarities and differences provided the basis for our theoretical insights about the development of what we term “dynamic resource platforms,” comprising of (a) dynamic resource shifts; (b) targeted resource orchestration; and (c) complementary processes balancing dynamism and capability development. These ideas contribute novel theoretical insights to current strategic management research on dynamic capabilities and on resource reconfiguration and redeployment.

Details

Resource Redeployment and Corporate Strategy
Type: Book
ISBN: 978-1-78635-508-9

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Article
Publication date: 1 July 2005

Paolo Saona Hoffmann and Eleuterio Vallelado González

Our aim is to analyze the type of lender and the debt maturity of Chilean firms as a function of their ownership structure and their growth opportunities. We perform the…

Abstract

Our aim is to analyze the type of lender and the debt maturity of Chilean firms as a function of their ownership structure and their growth opportunities. We perform the empirical analysis using an unbalanced panel data of 169 firms from 1990 to 2001. Our results show that Chilean firms with growth opportunities, ownership concentration, and a need for external funds issue short‐term bank debt to finance their new investments. This financing source is an efficient mechanism in Chile to alleviate agency and asymmetric information problems. The Chilean institutional environment influences firms’ decisions on banking debt.

Details

Management Research: Journal of the Iberoamerican Academy of Management, vol. 3 no. 2
Type: Research Article
ISSN: 1536-5433

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Article
Publication date: 9 April 2018

Dario Miocevic and Robert E. Morgan

The academic inquiry of operational capabilities (OCs) has claimed focal interest in mainstream strategy research. Recent theoretical advances suggest these capabilities…

Abstract

Purpose

The academic inquiry of operational capabilities (OCs) has claimed focal interest in mainstream strategy research. Recent theoretical advances suggest these capabilities are a fundamental trigger to the identification and exploitation of entrepreneurial opportunities. However, the extant literature has been, at best, partial with regard to empirical insights that integrate OCs with entrepreneurial opportunities. Addressing this theoretical lacuna from the standpoint of organisational learning theory, the purpose of this paper is to investigate the interplay between OCs and entrepreneurial opportunities and their overall impact on exporting SME’s growth.

Design/methodology/approach

To realise the empirical aims a descriptive research design employing a survey methodology was used. The authors are generated data from a sample of 117 exporting small and medium-sized enterprises (SME) in Croatia. Ordinary least squares regression was employed to test the conceptual model and five derived hypotheses.

Findings

The findings demonstrate that market-sensing capabilities are vital in enhancing exporting SME’s opportunity recognition capacity and the rate of international opportunity exploitation that leads to increased firm growth. Also, study findings show that the link between the increased rate of international opportunity exploitation contributes more to the growth when exporting SMEs have highly developed adaptive and innovation capabilities.

Research limitations/implications

This study brings to surface some novel insights about how exporting SMEs can better design their export marketing strategy. The results suggest, OCs occupy key role in the exporting SMEs international venturing efforts by delivering higher growth.

Originality/value

The study contributes to the export marketing strategy field by offering empirical evidence that both capability and opportunity-based views should be assessed simultaneously in explaining exporting SME’s competitiveness. Finally, we offer valuable theoretical and practical implications as well as avenues for further research that should extend our knowledge in the field.

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Article
Publication date: 18 June 2019

Aila Ahonen

Entrepreneurship in the sport sector has become an important discussion topic amongst public policymakers in Finland, and the interface between entrepreneurial sport…

Abstract

Purpose

Entrepreneurship in the sport sector has become an important discussion topic amongst public policymakers in Finland, and the interface between entrepreneurial sport companies and the public sector is crucial in the development of sport entrepreneurship. The purpose of this paper is to discuss the entrepreneurial growth of two elite team sport companies in Finland by describing the entrepreneurial characteristics and organizational development affecting their growth. This paper aims at giving new insights into the discussion of growth entrepreneurship in small- and medium-sized enterprises (SME’s) in the team sport context.

Design/methodology/approach

A qualitative case study approach was chosen to best describe the phenomenon of entrepreneurial growth in top sport team SME’s.

Findings

The results indicate that the entrepreneurial growth in these two cases comes from entrepreneurial opportunities, growth orientation and growth ability. Industry-specific issues, organizational characteristics, a favorable operating environment, entrepreneurially oriented owner-entrepreneurs and the policymakers’ capability of supporting the growth have affected the success of these team sport enterprises.

Research limitations/implications

This study is limited to the Finnish sport context and these studied cases.

Practical implications

This paper explains the entrepreneurial growth of two successful Finnish team sport enterprises and offers interesting insights for sport management and similar entrepreneurial sport enterprises in the industry.

Originality/value

This paper contributes to the discussion of sport entrepreneurship, and, especially, offers further understanding of growth entrepreneurship in SME.

Details

Journal of Entrepreneurship and Public Policy, vol. 8 no. 1
Type: Research Article
ISSN: 2045-2101

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Article
Publication date: 8 October 2018

Tarik Dogru and Ercan Sirakaya-Turk

The purpose of this study is to examine the extent to which the quality of corporate governance mechanisms and growth opportunities affect agency problems in hotel firms.

Abstract

Purpose

The purpose of this study is to examine the extent to which the quality of corporate governance mechanisms and growth opportunities affect agency problems in hotel firms.

Design/methodology/approach

The effects of cash flows on investments and cash holdings were analyzed using three-stage least square analysis to determine the extent to which agency problems are due to the quality of corporate governance in hotel firms.

Findings

The findings showed that the effects of cash flows on investments and cash holdings were greater in well-governed hotel firms than in poorly governed hotel firms. These effects were also greater in low-growth hotel firms than in high-growth hotel firms. However, the results from a concurrent examination of the quality of corporate governance and growth opportunities showed that poorly governed hotel firms with low-growth opportunities are exposed to agency problems.

Research limitations/implications

These results suggest that neither corporate governance mechanisms nor growth opportunities alone indicate agency problems. Theoretical implications are discussed within the realms of free cash flow theory and growth hypothesis.

Practical implications

High-growth hotel firms should retain all of their cash and cash flows to undertake value-increasing projects when they become available. Shareholders’ wealth is more likely to be maximized in high-growth firms regardless of the quality of corporate governance.

Originality/value

Although various aspects of corporate governance have been investigated in hospitality literature, previous studies did not examine the concurrent effects of corporate governance and growth opportunities on agency problems.

Details

International Journal of Contemporary Hospitality Management, vol. 30 no. 10
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 1 December 2001

Fouad AlNajjar and Ahmed Riahi‐Belkaoui

Uses previous research on firms’ potential investment (i.e. growth) opportunities, profitability and political cost/risk to suggest that a high level of growth

Abstract

Uses previous research on firms’ potential investment (i.e. growth) opportunities, profitability and political cost/risk to suggest that a high level of growth opportunities may encourage managers to use income reducing accruals. Tests this on 1987‐1990 data from a sample of US multinationals classified into high or low growth groups. Explains the methods used to estimate discretionary accruals and to measure the investment opportunity set. Presents the results which suggest that discretionary accruals are higher in high growth firms; and support the political cost hypothesis of Watts and Zimmerman (1978) and the political risk hypothesis of Monti‐Belkaoui et al (1999)

Details

Managerial Finance, vol. 27 no. 12
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 13 March 2017

Stern Neill, Lynn E. Metcalf and Jonathan L. York

Whether opportunities are discovered or created by entrepreneurs is a foundational question in entrepreneurship research. The purpose of this paper is to examine women…

Abstract

Purpose

Whether opportunities are discovered or created by entrepreneurs is a foundational question in entrepreneurship research. The purpose of this paper is to examine women entrepreneurs in high-growth new ventures and explore the cognitive resources that distinguish between three approaches to opportunity perception: opportunity discovery; opportunity creation; and a combined discover-create (ambidextrous) approach.

Design/methodology/approach

Using questionnaire responses from 165 women entrepreneurs in high-growth new ventures, K-means clustering was used to determine three approaches to opportunity perception. The cognitive resources associated with each approach were then identified using multiple discriminant analysis. Finally, multivariate analysis of variance was conducted to examine the relationship between opportunity perception and growth expectations.

Findings

These results demonstrate different approaches to opportunity perception among entrepreneurs in high-growth new ventures, the cognitive resources that reinforce each approach, and the expected new venture growth outcomes.

Research limitations/implications

The findings offer insight on the cognitive origins of opportunity perception by empirically identifying distinct approaches to opportunity perception and the cognitive resources that underlie each. The study relies on a unique sample of entrepreneurs to understand complex cognitive phenomenon.

Practical implications

Understanding the effects that cognitive factors have on opportunity perception provides direction for current and aspiring entrepreneurs. The findings and instrument may be used for professional development and to inform educational strategies.

Originality/value

The findings offer important contributions to entrepreneurial theory and practice by addressing repeated calls for research that examines the cognitive antecedents enabling opportunity formation (discovery, creation or both). This manuscript empirically does so, while opening up possibilities for future research.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 23 no. 2
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 10 September 2017

Hasan Ghura, Xiaoqing Li and Arezou Harraf

The purpose of this paper is to develop a conceptual framework that illustrates how resource-based countries, such as those in the Gulf Cooperation Council, can move their…

Abstract

Purpose

The purpose of this paper is to develop a conceptual framework that illustrates how resource-based countries, such as those in the Gulf Cooperation Council, can move their economies towards a more sustainable diversified model, through creating and fostering institutions that are conducive for opportunity entrepreneurship.

Design/methodology/approach

Several key variables pertaining to formal and informal institutions which impact opportunity entrepreneurship are presented in a conceptual framework based on a comprehensive, non-systematic literature review.

Findings

Findings from the comprehensive literature review suggest that institutions play a moderating role between opportunity entrepreneurship and economic development. Institutions can stimulate entrepreneur’s behaviour leading to economic growth and subsequently development. Proposals worth pursuing in empirical studies in the future are presented based on the review of the literature.

Practical implications

This framework offers a model for oil-based countries in resolving structural problems in fostering entrepreneurship when responding to economic challenges.

Originality/value

The proposed framework in this study takes into consideration a comprehensive set of formal and informal institutional factors, rarely discussed in the existing literature, that link opportunity entrepreneurship and economic growth and development. Insights offered by this study have implications for government policy changes in developing effective institutions.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 13 no. 4
Type: Research Article
ISSN: 2042-5961

Keywords

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