Search results

The purpose of this paper is to compare the post-entry firm behavior of firms owner-managed by entrepreneurs who entered for family-oriented vs opportunity-oriented reasons.

Using the institutional logics perspective, the author argues that firms under the influence of opportunity-oriented or family-oriented owner-managers may differ in their internal practices, purpose, strategies, and performance. The author follows an inductive research methodology strategy by performing multivariate analyses with a sample of 1,733 Chilean firms to explore the preliminary conjectures.

Firms owner-managed by entrepreneurs who entered for a family-oriented reason finance their investment with firm resources, are less dependent on one customer and are willing to put forth less innovation effort than firms owner-managed by entrepreneurs who entered for an opportunity-oriented reason. No differences were found in terms of employee productivity. Additionally, the results show that young firms owner-managed by opportunity-oriented entrepreneurs have higher growth ratios than young firms owner-managed by family-oriented entrepreneurs. Inversely, old firms owner-managed by entrepreneurs who entered for an opportunity-oriented reason grow much less than old firms owner-managed by entrepreneurs who entered for a family-oriented reason.

This paper contributes to the literature at the intersection of family business and entrepreneurship by addressing the calls made by Aldrich and Cliff (2003) and Discua Cruz and Basco (2018) to better understand the family’s influence on entrepreneurship.

The main objective of this research was to identify the key critical determinants of internationalisation business processes that entrepreneurs adopted in under-supported policy contexts.

This research utilised a case-study design, incorporating multiple case examples, applying non-probability purposive selection criteria. A total of five in-depth, structured 90-min to two-hour case interviews were conducted with Italian entrepreneurs, in which four out of the five cases selected are goods-oriented, and one is services oriented.

Regarding internal entrepreneurial motives, four crucial determinants were recognised: (1) Making more profit, (2) Expanding market, (3) Personal tendency to export and (4) Obtaining social respect. Regarding external networking capabilities, two key factors were identified: (1) Developing relationships with an international partner or representative and (2) Maintaining relationships with industry-relevant authorities.

The data gathered for this paper depends on self-announcing, expanding the likelihood of being one-sided for social desirability answers. The sample of research is also limited to small and medium businesses and has covered a limited number of companies.

An under-supported policy context forces international entrepreneurs to make their own arrangements and tailor their business process through personal initiative and interactions with network partners. Taking advantage of field-based data, this paper is probably one of the earliest research studies to identify several internal and external factors impacting on firm internationalisation business processes in the low policy support context for entrepreneurship.

How does venture capital (VC) emerge in emerging and developing economies? This paper aims to use case data from an early Russian VC fund to extend a previous model exploring that question.

Case studies of VC emergence from South Africa, Botswana, and Russia are compared, from which a conceptual model is developed.

VC emerges in a process consisting of four stages: enabling, coproducing, diffusing, and replicating. The Russian case shows that these stages are linked in a circular process, i.e. replicating can lead to enabling. VC emergence can also begin at any stage. A higher degree of public‐private coproduction may outweigh the absence of a completed enabling stage, suggesting that strength in one stage can compensate for weakness in others.

This paper invites scholars to reconsider VC emergence in a more nuanced manner that takes into account its complex, processual nature. The inclusion of Russian data also encourages researchers to examine more closely the subtle ways in which the private and public sectors may interact in emerging markets in pursuit of common goals. This study's findings have important linkages with other critical accounts of international business. The study addresses weaknesses in earlier literature by employing a multi‐disciplinary, cross‐context approach that utilizes data from a foreign VC investing in Russian small to medium‐sized enterprises.

VCs considering investment in Russia should examine how early entrants to the industry formed cooperative relationships with local governments. Policymakers should re‐examine the relative importance of national and local efforts to promote VC and other innovation‐related initiatives in emerging markets.

This study moves beyond current economics‐dominated understanding of VC, which focuses on antecedents (enabling conditions). It reports the central role of public‐private coproduction in VC emergence, the feedback between diffusion and coproduction in emergence, and, most importantly, the diminished importance of enabling conditions. This paper presents the first fund‐level study of Russian VC.

Although previous research acknowledges that the process of entrepreneurship is also a regional and a peripheral activity, empirical evidence concerning the personal and contextual factors affecting business start‐ups due to the identification of opportunities in rural contexts is limited. The purpose of the present research is to verify whether prior entrepreneurship theories conducted in urban contexts are useful for predicting entrepreneurial activities in rural contexts.

A short, self‐report questionnaire was administered to a random sample of 81 business owners located at a small town in southern Crete, Greece. Bayesian confirmatory factor analysis and logistic regression analysis were the main analytical tools used.

Results suggest that entrepreneurs' personality, prior knowledge, expectation of future social status, and level of education are significant predictors of opportunity entrepreneurship.

The reported research relied on self‐reports and on a sample from the Greek public sector. Moreover, data are cross‐sectional. Future research should be multinational and longitudinal to test the assumptions of the present study.

The present study provides evidence about the utility of existing opportunity entrepreneurship theories in rural contexts. Results could be of value to policy makers focusing on the development of small businesses and entrepreneurship and the promotion of entrepreneurial and innovative capabilities in rural contexts.

The purpose of this paper is to provide guidance to African governments by delineating a framework that would help them to formulate policies that have the potential to engender opportunity entrepreneurship. This framework is used to critique existing entrepreneurship policy in Nigeria. Entrepreneurship policy should stimulate economic growth as a necessary condition for employment generation and poverty alleviation.

The paper adopts evaluative methodology. Data and information used in this paper were obtained from several secondary sources. These included literature review related to the subject area addressed; the Central Bank of Nigeria, which has designed and funded various initiatives to enable SMEs access funding for their businesses; the Nigerian National Bureau of Statistics which has conducted surveys of SMEs in the country; and the Small and Medium Enterprise Development Agency of Nigeria, which was established to help promote and develop the SME sub-sector.

The critical findings of the paper are that opportunity entrepreneurship has a better prospect of promoting growth, creating jobs and alleviating poverty than a generic MSME policy being current currently promoted. Targeted entrepreneurship policy to incentivize opportunity-oriented entrepreneurs would produce greater benefit to the economy and society. Such entrepreneurship policy should aim at motivating and facilitating the transitions of necessity entrepreneurs to opportunity entrepreneurship and microenterprises to small and medium enterprises. More importantly, entrepreneurship policy should be targeted at drastically shrinking the informal sector to the barest minimum, while helping to aggressively expand the formal sector, spur innovations, foster growth, expand opportunities and create jobs.

The implication of this paper is the desperate need to refocus public policy on a high-impact entrepreneurship. This calls for a rethinking of existing policy and programs to address their inherent shortcomings.

Existing micro, small and medium enterprise (MSME) policy has not achieved the twin goals of job creation and poverty alleviation. This paper contributes to the existing body of work by providing a framework for informed decision-making relative to entrepreneurship policy that has the potential to achieve macroeconomic goals of job creation and poverty alleviation. The framework directs the attention of policymakers to opportunity entrepreneurship as a necessary focus of public policy.

In the last decade, the Chinese Government enacted two rule-based policy changes related to property rights, namely, a constitutional amendment to protect the lawful rights of the private sector in 2004 and a property rights law in 2007. Using property rights theory, the purpose of this paper is to hypothesize the contingent effect that these property rights changes have on the investment of individual human and financial capital toward entrepreneurship. In addition, this study also explores whether property rights changes have a differential effect on the two forms of entrepreneurship, namely, opportunity and necessity entrepreneurship.

This research uses logit regression analysis on a two-period model using the Global Entrepreneurship Monitor (GEM) database to test these effects.

Contrary to existing evidence from western contexts, this study finds that property rights changes have a significant influence on the investment of both forms of capital toward necessity entrepreneurship in China.

The use of a secondary database like GEM has certain limitations, such as the non-availability of data on a longitudinal basis, and the need to operationalize certain constructs like social and financial capital as non-continuous variables.

There has been limited research on the phenomena of necessity entrepreneurship in economies such as that of China. The findings of this study highlight that property rights protection is equally important for necessity entrepreneurship in institutional contexts like China.

This study aims to explore the co-ethnic relations of migrant entrepreneurs (MEs) from advanced economies in a developing country, specifically in the context of co-ethnic ties among Korean migrant entrepreneurs (KMEs) operating business ventures in Malaysia.

This research is outlined by an embeddedness view and uses a qualitative approach using a single case study design.

For KMEs, in-group co-ethnic ties are mobilised in a relatively more structured manner coalescing personal and entrepreneurial endeavours, particularly demonstrating the dynamics of co-ethnic ties and the home country’s development levels. The findings lead to a model of migrant entrepreneurship for MEs from a more developed nation.

The theoretical value of this study lies in its clarification of the role of in-group ties in the setting of changing economic development levels and migration. Practice-wise, the findings on the adoption of co-ethnic ties that span formal, informal and transnational boundaries may inform migrants who are considering opportunities in less developed host countries, and assist stakeholders in developing policies concerning migrant communities and their ventures.

Over the last ten years, researchers have increasingly focused on the pursuit of opportunity as one of the central acts of entrepreneurship. This chapter proposes a model of opportunity recognition which emphasizes the process through which entrepreneurs interact with their social contexts to develop opportunities, that is, to develop and shape ideas into attractive opportunities. The central research question is “how does an individual use his or her social context to recognize opportunity?” The question can be re-phrased in two parts, highlighting the two sides of the influence process. First, how do the people around the individual affect both the entrepreneurial thinking process and the opportunity ideas? And second, how does the individual structure his or her social context and use the people surrounding him or her for recognizing and pursuing opportunities?

Entrepreneurial activity is a phenomenon that increases the economic growth of countries and improves their social welfare. The economic development levels of countries have significant effects on these entrepreneurial activities. This research examines which institutional and macroeconomic variables explain early-stage entrepreneurship activities in developed and developing economies.

The authors conducted panel data analysis on the data from the Global Entrepreneurship Monitor (GEM) and International Monetary Fund (IMF) surveys covering the years 2009–2018.

First, the authors' results reveal that cognitive, normative and regulatory institutions and macroeconomic factors affect early-stage entrepreneurial activity in developed and developing countries differently. Second, the authors' findings indicate that cognitive, normative and regulatory institutions affect early-stage entrepreneurship more positively in developed than developing countries. Finally, the authors' results report that macroeconomic factors are more effective in early-stage entrepreneurial activity in developing countries than in developed countries.

This study provides a better understanding of the components that help explain the differences in entrepreneurship between developed and developing countries regarding institutions and macroeconomic factors. In this way, it contributes to developing entrepreneurship literature with the theoretical achievements of combining institutional theory and macroeconomic indicators with entrepreneurship literature.