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We explore factors determining board membership of venture capitalists (VCs) in a syndicate in privately held entrepreneurial ventures. We suggest that board membership is determined by the bargaining process between VCs and new ventures in governing those ventures. Specifically, VCs are more likely to become board members in new ventures if they are highly reputable due to the success of their prior new venture investees, whereas VCs are less likely to gain board rights in new ventures with greater bargain power from superior innovation or marketing track records. Our empirical analysis using 1,812 dyads of investment ties formed between VCs and new ventures support our predictions.

Over the past decades, mainstream studies have generally indicated that new ventures could improve entrepreneurial performance by adopting strategic alliances (SAs). However, recently an increasing number of new ventures appear to not realize this objective using SAs at all times and may, rather, even be stuck in the survival trap. This dilemma indicates that the causal relationship between SAs and entrepreneurial performance in new ventures is not simply linear and rather a further complex nonlinear relationship. To handle this debate, this study attempted to reveal the nonlinear relationship of two types of SAs (technology alliances and market alliances) in new ventures with entrepreneurial performance (organizational growth and customer value). In addition, the moderating effect of transactive memory system (TMS) in the entrepreneurial team under the nonlinear relationship was explored.

This study established a research model by considering technology alliances and market alliances as two independent variables, organizational growth and customer value as two dimensions of entrepreneurial performance, and TMS as the moderators. The survey data collected from 207 Chinese new ventures was subjected to the hierarchical linear regression method for testing the proposed hypotheses.

The results revealed that there is an inverse U-shaped relationship between technology alliances and organizational growth, while the relationship between technology alliances and customer value was U-shaped. In addition, the relationship between market alliances and organizational growth was U-shaped, while an inverse U-shaped relationship was observed between market alliances and customer value. Finally, TMS was observed to positively moderate the U-shaped relationship between technology alliances and customer value as well as the U-shaped relationship between market alliances and organizational growth.

This study concluded that a nonlinear relationship between SAs and entrepreneurial performance existed in new ventures, which contributes to resolving the debate on whether new ventures could adopt SAs to improve entrepreneurial performance at all times. Specifically, the findings of this study would enrich the existing literature on the outcomes of SAs in new ventures through an evaluation of the effect of the inverse nonlinear relationship between technology alliances and market alliances on entrepreneurial performance (e.g. organizational growth and customer value). In addition, the findings of this study would extend the discussions about the conditions of the above causal relationship by introducing the TMS as the core moderator.

This paper aims to investigate which network relationships foster the early development of a sustainable new venture (SNV) and how sustainability as the core characteristic of the new venture shapes those network relationships.

This paper relies on a qualitative approach. The primary data source is 25 interviews with 18 key informants of 15 Italian SNVs. The fashion industry is the empirical setting due to its negative environmental and social impacts and shifts toward sustainability during the past decade.

The paper identifies six types of network relationships that affect the development of fashion SNVs. It proposes sustainability-enhanced and sustainability-enabled network relationships and relates them to trust and legitimation in the network.

The study enriches the theoretical debate on networks, new ventures and sustainability by dealing with the case of SNVs in a traditional sector. This paper presents managerial implications for entrepreneurs and policymakers.

This paper contributes to the debate on society’s sustainable development by emphasizing how networks can affect the growth of SNVs.

This paper fills a research gap in a novel manner. The paper contributes to the recent debate on new ventures and sustainability from the market as network approach. It identifies relevant networks, their contribution and the role of sustainability. The study refers to SNVs in traditional nontechnological industries.

Based on the organizational learning theory, this study regards market orientation as market-based learning and seeks to advance insight into how proactive and responsive market orientations affect two kinds of open innovation strategies, sourcing and selling. A firm’s information and communication technology (ICT) capability is considered an essential moderator in these relationships.

This study adopted a quantitative design and used the questionnaire survey method to collect data. The authors finally collected data on samples in China. Multiple regression analysis was used to test the hypotheses.

The results show that proactive and responsive market orientations act as antecedents of open innovation, showing linear and curvilinear relationships between them. Specifically, responsive market orientation positively affects selling, and proactive market orientation positively affects sourcing. Responsive market orientation has an inverted U-shaped relationship with sourcing, and proactive market orientation has a U-shaped relationship with selling. In addition, ICT capability strengthens the positive effects of market orientation on open innovation and weakens the negative effects.

Drawing on organizational learning theory, this study provides a novel perspective to explain the complex mechanism between market orientation and open innovation. This study also explores the moderating role of ICT capability in this process, which advances research on how to select open innovation strategies under different conditions.

The present research integrates conservation of resources theory (COR) and adaptation theory to investigate the dynamics of entrepreneurs' reactions to obstacles. Furthermore, this research explores whether entrepreneurs' effort allocations following an obstacle influence how entrepreneurs appraise subsequent loss-related events. Finally, this research seeks to understand why some entrepreneurs handle obstacles better than others by considering the role of optimism.

This research utilized a longitudinal survey with 130 nascent entrepreneurs across 4 time periods. This research used a multivariate latent change analysis model to examine the temporal dynamics of new venture effort after exposure to obstacles.

The results indicated that entrepreneurial obstacles at time t were associated with decreased effort in new ventures at time t+1. Furthermore, new venture effort at time t was associated with decreased effort in new ventures at time t+1. The results also demonstrated that the allocation of greater effort may lead to a decrease in subsequent obstacle appraisals, a relationship that also varies as a function of nascent entrepreneurs' optimism.

This research extends the understanding of the dynamic pattern of reactions following exposure to entrepreneurial obstacles. The findings suggest that, rather than being straightforward, reactions are likely to ebb and flow over time.

The authors advance a model theorizing how new ventures elicit citizenship behaviors to cultivate dynamic capabilities that help bolster survival in their nascent years of operations—a characteristically resource-scarce and turbulent context.

Drawing on and integrating research on citizenship behaviors with dynamic capabilities, the authors develop a theory that new ventures that are better able to evoke a combination of affiliative and challenging citizenship behaviors from their wider entrepreneurial team (i.e. internal, and external stakeholders) are more adept at mitigating the liabilities of smallness and newness. As these behaviors are spontaneous and not explicitly remunerated, new ventures become stronger at utilizing their limited resource base for remaining lean and agile. Further, key boundary conditions are theorized that the sociocultural norms the venture is embedded within serve to heighten/attenuate the degree to which entrepreneurs can effectively cultivate dynamic capabilities from their team's “extra mile” behaviors.

The propositions extend a rich body of research on citizenship behaviors into the new venture domain. As all new ventures face the challenge of overcoming liabilities of newness, models that help understand why some are more adept at overcoming this and why others fail, hold substantive practical utility.

This research is the first to unpack how citizenship behaviors manifest among an extended range of stakeholders traditionally overlooked in new venture teams research and the mechanism for how this links to venture survival.

New venture status is the most prominent feature of entrepreneurial startups, but its performance implications have remained under-studied. This study aims to bridge this knowledge void and offer precise guidelines for startup managers in boosting performance.

The study develops and tests a multi-perspective model on the linkage between new venture status and firm performance by integrating I/O economics, resource-based view and dynamic capability perspective. The arguments from the first two perspectives point to an adverse effect of new venture status, which is contingent, respectively, on business differentiation and resource endowments. The third perspective grounds a positive relationship between new venture status and performance, which is more pronounced for firms with weaker dynamic capabilities.

Quantitative evidence from a sample of new and established firms in China shows that the direct effect of new venture status is negative but insignificant. Neither business differentiation nor dynamic capabilities moderate the relationship. Low resource endowments, however, reinforce the negative influence of new venture status. New venture status, thus, shapes firm performance through resource scarcity from resource-based view rather than competitive vulnerability from I/O economics or strategic flexibility from dynamic capability perspective.

Newness and new venture performance have both been extensively examined in literature. But the relationship between them has remained largely omitted. The multi-perspective model and the findings in this study help clarify the confusion as to whether newness is good or bad in the context of an emerging market and reveals the subtle mechanism the effect of newness unfolds.

Crowdfunding, an alternative funding source to support entrepreneurial initiatives, has increasingly attracted the attention of scholars. However, knowledge of the drivers and outcomes of crowdfunding is currently scant. This study thus presents a review of the extant literature on new ventures soliciting crowdfunding.

The authors conducted a systematic literature review (SLR) of peer-reviewed articles, identifying and thematically analyzing 58 publications.

The thematic analysis revealed six main themes: a) founders and crowdfunding, b) signaling and crowdfunding, c) digitalization and crowdfunding, d) outcomes, e) geography and crowdfunding and f) success factors. In addition, crucial research gaps are identified to guide future research.

Beyond classifying the material on the basis of the thematic analysis and identifying potential future research avenues, the study has main implications. The authors detailed how crowdfunding, as a source of entrepreneurial funding, differed from other funding sources and explored entrepreneurial challenges that may be encountered in managing crowdfunding campaigns. The findings may thus help in the design of crowdfunding campaigns and serve educators in various disciplines when teaching and training participants on designing and promoting crowdfunding campaigns.

After identifying and integrating results from relevant articles on crowdfunding, the authors explained dominant themes in the literature and proposed a conceptual framework wherein the authors highlight factors that influence crowdfunding outcomes. The authors highlight the increasing relevance of crowdfunding for new ventures and elucidate avenues for future research.

This study aims to examine how entrepreneurial orientation affects new venture performance in a dynamic environment. The authors examine whether entrepreneurial bricolage and opportunity recognition mediate the effect of entrepreneurial orientation on new venture performance and whether environmental dynamics moderate the above effects.

This study uses questionnaires to collect data. The sample includes responses of managers from 274 new Chinese ventures. Regression analysis and bootstrapping are used to test the hypotheses.

Entrepreneurial bricolage and opportunity recognition play mediating roles between entrepreneurial orientation and new venture performance. Environmental dynamism positively moderates the relationship between opportunity recognition and new venture performance.

In a dynamic environment, new ventures should strengthen their entrepreneurial orientation, which would gradually improve their performance by improving their entrepreneurial bricolage and opportunity recognition ability.

This study innovatively explains the relationship between entrepreneurial orientation and new venture performance from the perspectives of “flexible solutions to current problems” and “discovering and grasping potential new opportunities.” It does so by using the concepts of entrepreneurial bricolage and entrepreneurial opportunity identification in the context of a dynamic environment.

This study aims to examine, by drawing upon resource dependence theory and upper echelon theory, how entrepreneurs’ socioeconomic statuses and political characteristics influence the establishment of formal political ties by new ventures, and how these relationships are moderated by new ventures’ degrees of innovation and internationalization.

An empirical research approach is used in this paper. This is because this model evaluates the interaction effects between the socioeconomic statuses and political characteristics of entrepreneurs and the market strategies of their new ventures. Moderated multiple regression models were used to test our hypotheses with data from 2,297 new ventures in China.

Using a questionnaire survey about new ventures in China, it was found that entrepreneurs’ socioeconomic statuses and political characteristics are positively related to the establishment of formal political ties by new ventures. It was also found that this positive relationship is stronger when new ventures have a higher degree of internationalization, while the relationship between the socioeconomic statuses of entrepreneurs’ and the establishment of formal political ties by new ventures is weaker when new ventures have a higher degree of innovation.

This research provides a deeper insight into the personal roles that are played in the establishment of formal political ties and it advances the research into new ventures’ competitive strategies.

This study reveals the situations in which formal political ties are connected with new-venture advantages in China, and it will help entrepreneurs establish and use formal political ties strategically to correspond with the different strategies of new ventures.

This research distinguishes the effects of two types of personal status on the establishment of formal political ties by new ventures, and it contributes to an understanding of the situations under which entrepreneurs should establish formal political ties. The findings will also be helpful for entrepreneurs who are choosing how to combine their market and non-market strategies.