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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.

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.

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.

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.

Informal knowledge sharing interactions (IKSI) are of particular value for innovation projects. This is especially true for unplanned IKSI, because they are even more likely to provide non-redundant knowledge and new perspectives than planned IKSI. Seminal studies have shown that the formation of unplanned IKSI can be explained on the basis of spatial structures. Strictly speaking, however, these studies only explain unplanned encounters. Whether unplanned IKSI result from these unplanned encounters, though, cannot be satisfactorily explained on the basis of spatial configurations alone. The purpose of this paper is to tackle this explanatory gap by unraveling the fundamental social processes by application of the symbolic interaction theory.

For this purpose, the formation of 132 IKSI on innovation projects from three research and development departments of large companies was recorded in detail using a combination of diaries and interviews. The data were analyzed using qualitative content analysis.

The analysis reveals that IKSI cause symbolic costs (image damages), and that these costs vary between types of social situations. Because actors anticipate situation-specific costs, their propensity to initiate IKSI can be explained in terms of the situations in which they encounter one another. Furthermore, the analysis reveals six particularly relevant characteristics of situations and further elaborates the basic argument by analyzing their functioning.

The paper complements previous explanations of unplanned IKSI by opening up the social processes underlying their formation.

This paper aims to explore the role and meaning of openness for the purpose of enhancing the understanding of collaborative innovation from an industrial network perspective.

The theoretical framework is based on the Industrial Network Approach, and the concepts of activity links, resource ties and actor bonds are used as a starting point for capturing the content and dynamics of the interaction. The empirical part consists of five case studies: two historical and three contemporary cases dealing with collaborative innovation projects. The cases are analyzed with regard to openness in business relationships and their connections in the network.

The main contribution is a conceptualization of openness in business relationships and relationship connections. The paper describes various forms and contents of openness – and closeness. It is postulated that the concept of openness can be used as an analytical tool for digging deeper into relationship and network-related issues of relevance to firms’ behavior in the context of collaborative innovation. Openness, as it is defined in this paper, is also put forward as an explanation of why (or why not) collaborative innovation projects become successful.

The conceptualization of openness differs from openness as it is commonly described in the open innovation literature. There, openness is the opposite of closeness, that is, a pattern where the innovation activities take place internally within the company. In this paper, openness, instead, has to do with how firms interact with other network actors in the context of collaborative innovation.

Social relationships play an important role in organizational entrepreneurship. They are crucial to entrepreneurs’ decisions because, despite the bleeding-edge technological advancements observed nowadays, entrepreneurs as human beings will always strive to be social. During the COVID-19 pandemic many companies moved activities into the virtual world and as a result offline Social relationships became rarer, but as it turns out, even more valuable, likewise, the inter-organizational cooperation enabling many companies to survive.

This chapter aims to develop knowledge about entrepreneurs’ SR and their links with inter-organizational cooperation. The results of an integrative systematic literature review show that the concept of Social relationships, although often investigated, lacks a clear definition, conceptualization, and operationalization. This chapter revealed a great diversity of definitions for Social relationships, including different scopes of meaning and levels of analysis. The authors identify 10 building blocks and nine sources of entrepreneurs’ Social relationships. The authors offer an original typology of Social relationships using 12 criteria. Interestingly, with regard to building blocks, besides those frequently considered such as trust, reciprocity and commitment, the authors also point to others more rarely and narrowly discussed, such as gratitude, satisfaction and affection. Similarly, the authors discuss the varied scope of sources, including workplace, family/friendship, past relationships, and ethnic or religious bonds. The findings of this study point to a variety of links between Social relationships and inter-organizational cooperation, including their positive and negative influences on one another. These links appear to be extremely dynamic, bi-directional and highly complex.

Network analysis is a well consolidated research area in several disciplines. Within management and organizational studies, network scholars consolidated a set of research practices that allowed ease of data collection, high inter case comparability, establishment of nomological laws and commitment to social capital motivation. This paper aims to elicit the criticism it has received and highlight the unsettled lacunae.

This paper sheds light on Network Analysis’s breakthroughs, while showing how its scholars innovated by responding to critics, and identifying outstanding debates.

The paper identifies and discusses three streams of criticism that are still outstanding: the role of human agency, the meaning of social ties and the treatment of temporality.

This paper brings to fore current debates within the Network Analysis community, highlighting areas where future studies might contribute.

The purpose of this paper is to explore two distinct subsets of dynamic capabilities that need to be deployed when pursuing innovation through inter-organizational activities, respectively, in the contexts of broad networks and specific alliances. The authors draw distinctions and explore potential interdependencies between these two dynamic capability reservoirs, by integrating concepts from the theoretical perspectives they are derived from, but which have until now largely ignored each other – the social network perspective and the dynamic capabilities view.

The authors investigate nanotechnology-driven R&D activities in the 1995–2005 period for 76 publicly traded firms in the electronics and electrical equipment industry and in the chemicals and pharmaceuticals industry, that applied for 580 nanotechnology-related patents and engaged in 2,459 alliances during the observation period. The authors used zero-truncated Poisson regression as the estimation method.

The findings support conceptualizing dynamic capabilities as four distinct subsets, deployed for sensing or seizing purposes, and across the two different inter-organizational contexts. The findings also suggest potential synergies between these subsets of dynamic capabilities, with two subsets being more macro-oriented (i.e. sensing and seizing opportunities within networks) and the two other ones more micro-oriented (i.e. sensing and seizing opportunities within specific alliances).

The authors show that firms differ in their subsets of dynamic capabilities for pursuing different types of inter-organizational, boundary-spanning relationships (such as alliances vs broader network relationships), which ultimately affects their innovation performance.

The authors contribute to the growing body of work on dynamic capabilities and firm-specific advantages by unbundling the dynamic capability subsets, and investigating their complex interdependencies for managing different types of inter-organizational linkages. The main new insight is that the “linear model” of generating more innovations through higher inter-firm collaboration in an emerging field paints an erroneous picture of how high innovation performance is actually achieved.

Many start-ups do not survive the first few years of business. Previous studies suggest that networks play a role in start-ups' success, but this positive effect has limits. The purpose of this paper is to answer the call for a better understanding of the dark side of networks and the variables that condition variables' effect on the likelihood of start-ups' survival.

A longitudinal research design includes 139 start-ups (102 from Germany and 37 from Portugal) and a total of 252 participants. A generalized linear mixed model (GLMM)was applied to estimate all the coefficients, to test the mediation (H1), the moderation (H2) and the moderated mediation (H3) while considering the economic situation of the start-up (sales growth), start-ups' networking behavior, creativity orientation and ultimately the likelihood of survival.

Based on an empirical study from two different countries, the results show that effective networking is contingent on the start-up's economic situation and creative potential. Specifically, the results point to situations in which early sales growth may lead to external networking, which, in contexts of low creativity-oriented start-ups, can compromise the start-ups' success.

Based on the findings, the authors compare scenarios in which networking increases the chances for start-up survival with situations where networking can have adverse effects. This study highlights the importance of considering specific start-up parameters, such as start-ups' economic situation and level of creativity orientation, in the business venturing literature.

This study contributes to a better understanding of the important actor-specific, micro-level legitimacy dimensions in dynamic entrepreneurial ecosystems (EEs).

Using an embedded case study approach and rich longitudinal data collected over 16 years within a French EE, the study analyzes the legitimacy gaining process of two actors coming from opposite founding conditions.

Three dimensions of legitimacy (3L) are necessary to be accepted as functional actors within EEs: institutional legitimacy (IL) refers to the EE's acceptance of an actor as an institution active in the field of entrepreneurship; cultural legitimacy (CL) means that the actor is recognized as possessing and promoting values considered appropriate by the entrepreneurial community; relational legitimacy (RL) relates to the willingness of the entrepreneurial community to interact with the actor. These are complementary dimensions that members of EEs need to possess to acquire full legitimacy. Different paths are possible to achieve this full legitimacy.

Replicating the study with a comparative approach including more actors could represent an interesting avenue for research.

This research provides insights into the underlying dimensions of legitimacy in EEs, how various actors gain legitimacy in such contexts and how this influences the dynamics of EEs.

The results provide novel insights into the issue of legitimacy in EEs and legitimacy theory in general.

This paper aims to focus on the influences of the COVID-19 pandemic on business-to-business (B2B) firms’ relationship initiation and customer relationship management in an under-explored and unique context of high-tech industrial microenterprises. The authors analyze the challenges posed by the COVID-19 pandemic in the specific context of B2B relationship initiation and customer relationship management dynamics by examining Finnish B2B industrial microenterprises.

The paper uses exploratory in-depth case studies undertaken in three Finnish industrial microenterprises to analyze the influences of the COVID-19 pandemic on their new business relationship initiation and relationship management with the current customers.

The case firms quickly adjusted to the “new normal” and used a number of technological resources, including online meetings and three-dimensional demonstrations, among others. A key reason for this quick adjustment was them being microenterprises. However, despite this, lack of access to customer sites remained a hindrance as their products need to fit certain production processes, which cannot be done without physical visits. Furthermore, the development of trust with new customers, especially those based in emerging markets, was challenging due to the lack of physical meetings and site visits.

The research highlights the challenges posed by the COVID-19 pandemic to B2B relationships and gives an account of the changing dynamics of relationship initiation and customer relationship management amid technological and societal disruptions. It also highlights the continued role of personal relationships and psychical meetings in such relationships. As such, the research informs B2B research that examines the role of personal relationships in B2B marketing.

The study offers industrial microenterprise executives insights into how to face and tackle COVID-19 driven challenges in B2B customer relationship management and how to integrate technological tools in relationship management practices while understanding where face-to-face meetings are indispensable.

The study demonstrates areas in which virtual tools can and cannot be substitutes for conventional means of B2B relationship initiation and customer relationship management across developed and emerging markets. It also highlights the specificities of industrial microenterprises and their business development and customer relationship management dynamics mechanisms, a research area that has been rather ignored by prior studies.

Electronic word-of-mouth (eWOM) has become one of the most influential information sources for consumers' purchase decision-making. Based on construal-level theory and from the perspective of cognitive effort, this study investigated the effects of eWOM social media types and conflicting eWOM on consumers' purchase intentions and validated the mediation role of social psychological distance, perceived value, and perceived cognitive effort.

Two scenario-based experiments were conducted to validate the research model. Specifically, a 2 (eWOM social media type: strong-tie vs weak-tie) × 2 (conflicting eWOM: with vs without) between-subjects design was used. ANOVA, multiple regression analysis with PROCESS, and partial least squares (PLS) were employed to test the hypotheses.

The results showed that eWOM social media types had significant effects on both social psychological distance and perceived value. The significant chain mediating effects of social psychological distance and perceived value between eWOM social media types and consumers' purchase intentions were found. In addition, conflicting eWOM had significant effects on both perceived value and perceived cognitive effort. Indirect effects of conflicting eWOM on purchase intention through perceived cognitive effort were discovered.

These results contribute to the eWOM literature by investigating the influences of eWOM social media types and conflicting eWOM on consumers' purchase intentions. They also contribute to construal-level theory by extending its applicability to the field of eWOM.