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1 – 10 of 962This paper describes and discusses company spin-ins and spin-outs as a means to understand company growth in a dynamic context. The following question is asked: How can growth be…
Abstract
Purpose
This paper describes and discusses company spin-ins and spin-outs as a means to understand company growth in a dynamic context. The following question is asked: How can growth be understood in spin-ins and spin-outs of innovative firms? The paper suggests return on capabilities as a measure to understand growth in an open innovation context.
Design/methodology/approach
The empirical part of the paper consists of a single case study. Data was captured through interviews and secondary data sources.
Findings
The paper points to that resources alone do not explain strategic decisions by a company and how spin-ins and spin-outs result from the need for capabilities, changes in business foci and temporary solutions to deal with overcapacities or lack of alternatives.
Originality/value
The paper contributes to research by discussing contemporary issues in strategy and innovation and relating them to the resource-based view and the growth of the firm. Spin-outs, and acquisitions and divestitures as interlinked events have rarely been focused on in the literature, while they remain frequent phenomena in practice.
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This article focuses on “born globals” (Knight and Cavusgil 1996) and interfirm resources to explain international entrepreneurship. The theory posed here challenges the…
Abstract
This article focuses on “born globals” (Knight and Cavusgil 1996) and interfirm resources to explain international entrepreneurship. The theory posed here challenges the traditional image of international business as a long, gradual process not occurring until later in the life cycle, and applying only to large multinational corporations (MNCs). Increasingly, new ventures must expand their operations internationally early in their history in order to be competitive (Oviatt and McDougall 1994), and require infrastructure (Van de Ven 1993), or interfirm resources, for success. Specifically, firms may rely on three factors to expand internationally: cost factors, unique global resources, and networks.
The purpose of this paper is to discuss the implication of Japanese government venture capital (VC) policies for future research and to provide basis for policymakers and…
Abstract
Purpose
The purpose of this paper is to discuss the implication of Japanese government venture capital (VC) policies for future research and to provide basis for policymakers and practitioners.
Design/methodology/approach
This is an academic literature review of available peer-reviewed publications on government VC policies. This paper discusses and analyses the current state and issues of the Japanese government VC policies regarding three research questions: What do Japanese government VCs do? Do they contribute to their portfolios? and Do they contribute to the development of VC market?
Findings
There are mainly two findings in this paper: It is effective to establish a complementary relationship with private VCs for Japanese government VCs to contribute to their portfolios; Japanese government should simultaneously continue to make and review policies for the VC market, the stock market, the entrepreneur sector and the environment surrounding them by its strategic long-term commitment to contribute to the development of VC market and new technology-based firms in Japan.
Originality/value
As there are only a few studies on recently strengthened Japanese government VC policies, this paper provides an in-depth discussion on these Japanese VC policies, which can be used for future research and as a valuable resource for policymakers and practitioners.
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Abstract
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Joanne Jin Zhang, Charles Baden-Fuller and Jing Zhang
This study aims to explore how entrepreneurial firms' networking logics may change under different types of perceived uncertainty. The arrival of new knowledge from the…
Abstract
Purpose
This study aims to explore how entrepreneurial firms' networking logics may change under different types of perceived uncertainty. The arrival of new knowledge from the entrepreneurial firm's network may alter the perceived technology and market uncertainty that in turn determines how the firm adopts or combines the two opposing logics of causation and effectuation. Focusing on the roles of external advisors recruited by the firms, the study probes the details of the cyclical process and the mechanism through which networking logics are altered.
Design/methodology/approach
In this study the authors conducted a 3-year longitudinal multiple case study of 12 United Kingdom (UK) high-tech start-ups from prefounding to A-round funding with 54 semistructured interviews and meeting observations.
Findings
The knowledge of external advisors with distinct experience often reshapes the entrepreneurial firm's perceptions of uncertainty, leading to logics change in network development. The authors identify two types of knowledge brought by external advisors and discover how these can influence three networking logic pathways under different levels of technology and market uncertainty.
Originality/value
The study is one of the first to map the paths of changing logics along with different types of uncertainty in the context of entrepreneurial network development. The study unpacks one of the key mechanisms of networking logic changes: the knowledge and expertise of those advisors recruited by the entrepreneurial firms. The process model of changing logics contributes to the effectuation literature and entrepreneurial network research.
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Laura Gasiorowski and Ahreum Lee
This study aims to show what type of directors founders (or entrepreneurs) first appoint to the board and how these appointments differ across experienced and novice entrepreneurs.
Abstract
Purpose
This study aims to show what type of directors founders (or entrepreneurs) first appoint to the board and how these appointments differ across experienced and novice entrepreneurs.
Design/methodology/approach
The sample consists of the human capital of board members in 443 new ventures in the computer software and information technology industries between 2000 and 2014. The hypotheses were tested using tobit regression.
Findings
The findings in this study reveal that compared to novice entrepreneurs, experienced entrepreneurs tend to appoint early boards with greater human capital (entrepreneurial, technical/scientific and industry-specific) and with greater functional diversity. In contrast, novice entrepreneurs tend to appoint early boards with greater finance and director experience.
Originality/value
The value of this research lies in filling the gap in the current literature by comparing the board appointment/selection behavior of novice and experienced entrepreneurs, which is relatively underexplored.
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Norah Almubarak and Dimo Dimov
This paper aims to adopt a practice-theory, “site ontology” perspective to understand how venture capitalists (VCs) add value to their portfolio companies (PCs).
Abstract
Purpose
This paper aims to adopt a practice-theory, “site ontology” perspective to understand how venture capitalists (VCs) add value to their portfolio companies (PCs).
Design/methodology/approach
The empirical research involves a field ethnographic study of a VC firm in Dubai, focused on revealing what constitutes value and what VCs do to add this value to their PCs.
Findings
Value adding is a profoundly social, embedded process interconnected with other ecosystem actors, investment practices and organizations. The value adding threads of VC activity are part of a holistic configuration of practices that span the investment lifecycle and different levels within the firm.
Originality/value
This research contributes a rich account of the social, symbolic nature of VC activity, depicting the everyday activities that comprise value adding practices. It is among the first to introduce practice theory to the VC context and open up a new conversation about its social ontology.
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Giancarlo Giudici, Massimiliano Guerini and Cristina Rossi-Lamastra
The authors investigate whether matchings in equity crowdfunding are more likely to happen if homophily exists between investors and investees. They focus on gender, age and…
Abstract
Purpose
The authors investigate whether matchings in equity crowdfunding are more likely to happen if homophily exists between investors and investees. They focus on gender, age and geographical proximity as crucial dimensions of similarity among individuals and thus of homophily. Furthermore, they investigate whether the effect of homophily depends on the risk of opportunism, which investors allegedly attribute to proponents basing on their area of residence.
Design/methodology/approach
The authors analyze a hand-collected database of 13 equity crowdfunding campaigns launched by Italian innovative start-ups from January 2013 to June 2016, which includes information about 384 equity crowdfunding investments carried out by 361 different investors.
Findings
The authors find a significant effect of geographical proximity and age similarity in explaining the probability that an investor finances a campaign. Moreover, these effects are particularly relevant if the proponent is located in areas characterized by a high risk of opportunistic behavior. Interestingly enough, they do not detect any significant effect related to gender.
Originality/value
In this paper, the authors have the unique opportunity to analyze a whole market (the Italian market) during three years, from inception (2013–2016), and to collect the identities of the investors in all successful campaigns.
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Oral history collections can offer a wealth of detailed information for entrepreneurship researchers. The stories that entrepreneurs tell provide researchers with insight into…
Abstract
Oral history collections can offer a wealth of detailed information for entrepreneurship researchers. The stories that entrepreneurs tell provide researchers with insight into both perspective and into substantive issues of entrepreneurial behavior. The life stories of entrepreneurs offer students of entrepreneurship insight into both the explicit and the tacit knowledge of working entrepreneurs.