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The purpose of this study is to explores the extent to which local institutional forces affect female entrepreneurial venture performance. Drawing upon a unified theoretical framework of social cognitive and institutional perspectives, the authors scrutinize the complex interplay among institutional support, entrepreneurial cognitions and entrepreneurial success.

Based on a unique sample of 202 female entrepreneurs in 30 provinces throughout Japan, this paper grounded social cognitive theory and attempted to clear the relation between women’s entrepreneurial self-efficacy and venture performance empirically by statistical analysis.

The findings of structural equation modeling indicate that women’s entrepreneurial self-efficacy is a strong and useful mediator of the effect of informal institutional support on venture performance. Unexpectedly, formal institutional support shows no correlation with entrepreneurial self-efficacy.

This study proposes that perceived social legitimacy may lead to increased entrepreneurial self-efficacy, thereby enhancing venture performance. This finding can clarify the institutional force pathways to foster entrepreneurial confidence.

This study contributes to the field of female entrepreneurship by examining institutional antecedents of women’s entrepreneurial self-efficacy. Focused on the case of Japanese female entrepreneurs, this study is unique and valuable.

This conceptual paper focuses on a common observation in the implementation stage of reward-based crowdfunding (RBC) – entrepreneurs' failures and delays in delivery of rewards to investors, which, in turn, may be perceived as violations of reward delivery obligations.

Drawing on entrepreneurial personality theory and psychological contract theory, this paper develops propositions and identifies factors related to both entrepreneurs (overconfidence and narcissism) and factors related to investors (types of motivators and psychological contracts) that may explain the perceived violations of reward delivery obligations. Implications for theory and practice are also discussed.

The theoretical analysis, by wielding two independently developed literatures, has demonstrated that it is important to investigate factors that are related to both investors and entrepreneurs in understanding issues and challenges at different stages of the RBC model. The authors believe that the current analysis provides an integrated understanding and a solid foundation for researchers to further examine these issues by empirically testing these propositions.

The authors examined two previously understudied psychological factors in the context of RBC – entrepreneurial traits, mainly overconfidence and narcissism, and the type of psychological contracts formed between investors and entrepreneurs, both of which, according to McKenny et al. (2017), need greater attention from researchers studying crowdfunding.

Small social entrepreneurs (SSEs) who operate in resource-constrained environments frequently use entrepreneurial bricolage (EB) to overcome such limitations. Research in social entrepreneurship mainly focuses on the outcomes of bricolage, with little knowledge about individual mechanisms that lead SSEs to use this approach. The authors fill this gap by investigating the role of entrepreneurial passion in fostering bricolage and the mediating effect of the sense of community.

To validate the theoretical model, the authors surveyed 279 SSEs operating in 7 African countries. The authors assessed the risk of common method bias, internal reliability and the validity of constructs and tested the hypotheses by performing linear regression analysis.

This study’s results demonstrate that passionate SSEs operating in resource-constrained contexts develop a sense of community by perceiving it as a valuable resource provider and that sense of community moves them to engage with EB.

Within the field of social entrepreneurship, this study examines the importance of a sense of community among SSEs; this evidence opens new avenues for research on drivers of small businesses operating in developing economies.

This study has practical implications for SSEs on implementing bricolage, and guidelines for governments, policymakers and NGOs in better developing their policies and programs considering the role of communities.

This study contributes to the literature by highlighting individual-level drivers of bricolage for SSEs operating in resource constraints, and revealing the relevance of the subjective view of the role of the community.

Despite the merit of extant studies on career decision regrets, they are not well integrated, are developed at different speeds and differ in focus. Specifically, they do not address an important question about the levels and antecedents of regret arising from choosing entrepreneurship instead of paid employment and vice versa. The authors adopted the regret regulation theory as foundation to examining the moderated effect of entrepreneurial potential (EP) on career choice regret (CCR) among employees and entrepreneurs.

The authors surveyed 721 employees and 724 entrepreneurs from a developing country and applied partial least squares-structural equation modelling (PLS-SEM) to test the hypotheses.

Employees regretted their career choice three times more when compared with entrepreneurs. However, the authors failed to conclude that the latter had three times better living conditions when compared with the former. EP negatively influenced the regret of being an entrepreneur in lieu of an employee while it positively influenced the regret of being an employee in lieu of an entrepreneur. The perceived opportunity cost of being a higher EP employee was three times greater when compared with that of being a lower EP entrepreneur. The effect of EP on CCR was mitigated or amplified by duration in the career, former career status, decision justifiability, and perceived environment's supportiveness.

The design was cross-sectional, thus, the findings cannot be interpreted in the strict sense of causality.

The authors rely on an important yet often overlooked context of the choice between entrepreneurship and paid employment to test, clarify, and extend the regret regulation theory. The findings have novel human resource management and entrepreneurship policy implications.

Traditional feasibility analysis is focused on the immediate and urgent needs of a new venture start-up. All four parts of the feasibility analysis (product/service, industry/market, organizational, and financial) are valuable and essential, but what is missed is a part that provided attention to the longer-term requirements for success and sustainability. A fifth strategic feasibility analysis is needed, focused on the long-term sustainability of the new venture. This strategic/contingent context-dependency lens considers the organization's long-term survival, confirming that organizational success depends on the new venture's ability to emphasize its uniqueness and fit with its external environment.

This paper takes advantage of the decades-long literature review in Strategy to combine known data with entrepreneurial practice in undertaking the feasibility analysis.

This enhanced feasibility analysis adds a strategic lens beyond the traditional four-part feasibility analysis, resulting in identifiable value-added benefits and awareness of potential opportunities or threats in the longer term.

This research is conceptual and theoretical at this point, without field implementation.

New venture failure is an ongoing concern for many. This suggested strategic lens, especially the sustainability aspect (beyond the “what-do-we-need-to-do-to-open-the-doors” of much feasibility analysis) may prove very useful. Competitive advantage is examined in the traditional feasibility analysis, but this strategic lens suggests a longer term examination, and engages with competitor response.

If adopted, this enhanced analysis may lead to greater success for new venture start-ups, thus less wasted time, energy and money.

This is the first attempt at adding a focused strategic lens to the traditional entrepreneurial feasibility analysis. This may seem like a simple and elementary shift of perspective, but the implications are huge, and take advantage of the decades-long research stream in strategic thinking and planning.

Venture capital (VC) is an essential element in healthy entrepreneurial environments; therefore, many countries in developing entrepreneurial economies support the industry via direct or indirect government interventions. The purpose of this study is to examine through the example of the Hungarian market, whether direct or hybrid state involvement has contributed more to the growth of the invested enterprises. The findings are relevant in the design of government VC schemes and in the contracts mitigating the moral hazards inherent in government funding.

The basis of empirical research is a unique hand-collected database covering Hungarian government-backed VC (GVC) investments. Based on the financial data of investee firms, the authors investigate whether firms financed by hybrid VC involving market participants are able to outperform firms that receive pure public financing using panel regression.

Based on Hungarian evidence, hybrid VC-backed firms generated lower growth and employment than their purely government-backed peers. Both schemes showed meagre innovation activity. The conclusion is that because of the conflict of private and economic policy objectives in hybrid financing, the exposure of hybrid risk capital to moral hazard is higher than that of pure public financing. Private interests in hybrid funds can only improve investment efficiency if they are structured along the lines of market-based independent financial intermediation and the contracts imitate the ones existing amongst limited and general partners in private schemes.

The research covers the data of Hungarian government-backed firms by tracking the full range of 86 investments made in the purely government scheme and 340 firms that received funding in the hybrid scheme. The research focuses on two government initiatives, and the results are influenced by the specific regulation of the programs; therefore, the results cannot be generalized for all government agendas; they are indicative in the designs of the agendas.

There is a limited number of empirical studies investigating the impact of VC in developing markets, especially in the Central and Eastern Europe region. This firm-level research on the impact of public VC can help improve the effectiveness of development policies. By analysing the entirety of investments of a VC program that is near to its completion, the authors provide new insight into the efficiency and prospects of GVC schemes in the region.

The purpose of this paper is to identify human capital factors that pertain both to setting up and successfully running a business. To achieve this objective, the authors apply and extend the theory of career choice offered by Lazear (2005) that explains individual selection into entrepreneurship.

The authors hypothesise that individuals with broader educational and professional backgrounds are more likely to start a business and are more likely to run a business in the long term. The authors tested the hypotheses using unique data from 800 current entrepreneurs, 800 employees who were previously entrepreneurs and 842 employees with no entrepreneurial experience, by means of a logit regression with robust standard errors and extensive robustness checks.

The authors empirically show that individuals with more diverse educational and professional backgrounds tend to have both greater chances of starting a company, as well as a higher probability of entrepreneurial success. Surprisingly, having managerial experience proved to exert a negative influence on the likelihood of starting a business while having an insignificant impact on the odds of entrepreneurial success.

The findings are informative for those planning or pursuing an entrepreneurial career, but they are also relevant for the purpose of entrepreneurship education.

The author's extend the body of research supporting Lazear's (2005) theory by showing that broad education and professional experience not only contribute to a higher propensity to start a company but they are also success factors in business per se.

The purpose of this paper is twofold: first, to study which perceived and attained entrepreneurial competences acquired by students while developing a business plan are rated most highly; and second, to analyse the differences observed in entrepreneurial competences, depending on whether the business plan developed is real or fictitious.

To analyse the role played by business plans in perceptions and attainment of competence, data were collected from students enrolled on a final project course of a bachelor’s degree, specifically the Bachelor’s Degree in Business Administration and Management at the Universitat Oberta de Catalunya. The course in question focussed on entrepreneurship and business plans. The data on perceived and attained competences were obtained through questionnaires and assessment rubrics, respectively. Mean comparison analyses were conducted to investigate any differences in entrepreneurial competences existing between students developing real or fictitious business plans.

The paper finds evidence that the process of creating a business plan results in entrepreneurial competence being highly rated and that whether the business plan is real or fictitious does not affect the level of entrepreneurial competence.

A longitudinal study will be required to analyse how entrepreneurial competences evolve during the business plan creation process.

This paper finds that few studies have been conducted to explore entrepreneurial competences in relation to business plan development and shows that more complete research is required. Moreover, both perceived and achieved competences are considered, an analysis not previously carried out.

In the context of the question of how entrepreneurship education can contribute to entrepreneurial competency development, this paper aims to outline the deliberate practice (DP) method and showcase how it can be applied in entrepreneurship education. To this end, this paper presents a learning innovation in which DP improves entrepreneurial competencies.

The paper describes an entrepreneurship training in which participants, over a seven-week period, learn about DP and use this approach to develop an aspect of an entrepreneurial competency of their choosing.

Evaluations show that participants find both short- and long-term gains in their competency development, and value having learnt a competency development method as well.

The presented format is designed in accordance with the DP principles as originally described in the literature on expert performance, and shows that DP can be applied in the context of entrepreneurial competency development at lower levels of proficiency. Entrepreneurship educators interested in competency development can consider to adopt (aspects of) the described approach.

The format applies DP principles as described in the literature on expert performance. The value lies in the short- and long term effects of the training.

This paper aims to understand the process of initiating ingredient/component (IC) branding from the supplier's perspective. It proposes modeling entrepreneurial orientation (EO) as an antecedent factor and differentiation abilities (functional and reputational) as mediators. Investigating IC branding from the supplier's perspective is critical given the cost and risk associated with implementing such a strategy.

A total of 5,254 manufacturing companies were screened to identify IC supplier firms that meet certain criteria. Survey data were collected from 77 top managers (Chief Executive Officers or Chief Marketing Officers) of IC supplier firms. The paper uses partial least squares structural equation modeling (PLS-SEM) and SPSS in analyzing data.

The results indicate that IC branding is a complex strategy – one involving a number of steps that need to be taken in a specific order. More specifically, results indicate that IC branding starts with EO exerting a positive influence on IC functional differentiation ability (FDA). FDA facilitates reputational differentiation ability (RDA), which in turn encourages the supplier to initiate IC branding.

This paper addresses an important gap by studying the process through, which suppliers initiate IC branding.