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Venture capital is a critical source of funding and development of new ventures. The investment decision of venture capitalists (VCs) is a multi-stage assessment process where the entrepreneurs’ characteristics are the most important criteria to determine the decision to accept or to reject the proposal at the screening stage. At this stage, the decision-making of VCs is influenced by their subjective characteristics and their interactions with the entrepreneurs who share the same characteristics as theirs. How do the entrepreneurial experiences of both VCs and entrepreneurs interact and bias the evaluation? Several studies have tried to provide an answer to this still pending question. Research concurs in that entrepreneurial experience drives primarily the screening decisions of VCs. Yet, if many studies have shown that VCs are prone to cognitive biases in their evaluations, research focusing on the relationship between of those biases and entrepreneurial experience in the context of investment decision is scarce. VCs’ cognitive biases have been linked to the subjective characteristics of VCs. Most precisely, many studies have shown that a common bias among investors is the similarity-attraction bias such that VCs’ evaluations improve when VCs and entrepreneurs share the same characteristics. As a result, it is likely that entrepreneurial experience plays a significant role in explaining biases in investment decisions. Overall, research points out the importance of entrepreneurial experience of both VCs and entrepreneurs, their interactions and the cognitive biases shaped by their respective experiences in explaining the investment decisions of VCs at the screening stage.

Crowdfunding creates multifaceted benefits for different agents who all desire to extract some of these benefits. The purpose of this paper is to analyze the allocation of crowdfunding benefits among crowdfunders, entrepreneurs, and venture capitalists.

The present paper develops a multi-stage bargaining model with a double-sided moral hazard.

It is demonstrated that higher entrepreneurial bargaining power vis-à-vis the crowd may not always be beneficial for the venture. Most importantly, this is due to the reduced success probability of crowdfunding resulting from higher bargaining power of the entrepreneur. Bargaining power and the value of outside options determine the equilibrium allocation of crowdfunding benefits, expected venture value, and thus expected wealth of all agents.

Entrepreneurs face a tradeoff between venture quality gains and worse outcomes from crowdfunding campaigns. Crowdfunding success and thus venture quality gains are the ultimate goal of policy makers if they aim to enhance the overall social welfare.

This paper is the first to investigate how multifaceted crowdfunding benefits are allocated between the crowd, entrepreneurs, and venture capitalists. The paper furthers the development of an appropriate regulatory framework for crowdfunding by depicting new and original effects related to crowdfunding.

This study aims to examine the effect of the effectuation set of means on new venture performance in the context of Tanzania’s emerging economy. To determine how new ventures, benefit from the effectuation set of means experienced entrepreneurs possess, this study examines the role of the flexibility principle of effectuation as a key mediator.

The research is quantitative in nature, and a survey questionnaire was used to get data from five cities of Tanzania. In total, 350 samples obtained for analysis. The hierarchical regression and structural equation modeling were used for testing the hypotheses.

The effectuation set of means is affirmed to have a positive effect on new venture performance. The flexibility principle plays a partial mediating role in the relationship between the effectuation set of means and new venture performance.

This empirical evidence contributes to the progress of the theory of effectuation and also provides managerial guidelines for entrepreneurs who operate their new ventures and face uncertain business environments.

The purpose of this paper is to disentangle individual-level gender differences and norm-based gender roles and stereotypes to provide a finer-grained understanding of why female and male entrepreneurs experience different growth returns from their social networks across different national cultures.

This research uses a survey of 637 (278 female and 359 male) entrepreneurs across four nations varying on relational culture (importance of social relationships) and gender egalitarianism (importance of gender equality or neutrality in social and economic roles).

The authors find evidence that male entrepreneurs in high relational cultures benefit the most in terms of growth in revenues from larger network size while women in low relational cultures benefit the least. In cultures with low gender egalitarianism, male entrepreneurs benefit more from their larger social networks than did the female entrepreneurs.

The study presents implications for female entrepreneurs’ behaviors to gain more benefits from their social networks, especially in cultural contexts where relationships are important or where there is equality in gender roles. In these contexts, they may need to develop other strategies and rely less on social networks to grow their ventures.

This research suggests that female entrepreneurs still are disadvantaged in some societies. National policy may focus on developing more opportunities and providing more support to women entrepreneurs as a valuable contributor to economic growth of the nations.

The authors disentangle the effects of gender differences, norm-based gender stereotypes and networks on entrepreneurial outcomes.

Drawing on the multiplicity of context approach, this study investigates whether female entrepreneurs are more likely than male entrepreneurs to create environmentally oriented organizations. This study aims to examine how context, measured by gender socialization stereotypes and post-materialism, differentially affects the kinds of organizations entrepreneurs choose to create.

To test the hypotheses, this study utilizes Global Entrepreneurship Monitor data from 2009 (n = 17,364) for nascent entrepreneurs, baby businesses owners and established business owners in 47 counties. This study also utilizes the World Values Surveys to measure gender ideologies and post-materialist cultural values at the country level. To test the hypotheses, a logistic multi-level model is estimated to identify the drivers of environmental venturing. Data are nested by countries, and this allows random intercepts by countries with a variance components covariance structure.

Findings indicate that female entrepreneurs are more likely to engage in ecological venturing. Societies with high levels of post-materialist national values are significantly more likely to affect female entrepreneurs to engage in environmental ventures when compared to male entrepreneurs. Moreover, traditional gender socialization stereotypes decrease the probability of engaging in environmental entrepreneurship. Likewise, female entrepreneurs in societies with strong stereotypes regarding gender socialization will more likely engage in environmental entrepreneurship than male entrepreneurs.

The present study uses a gender analysis approach to investigate empirical differences in environmental entrepreneurial activity based on biological sex. However, this research assumes that gender is the driver behind variations in ecopreneurship emphasis between the engagement of males and females in venturing activity. The findings suggest that female entrepreneurs pursuing ecological ventures are more strongly influenced by contextual factors, when compared to male entrepreneurs. Future research can build upon these findings by applying a more nuanced view of gender via constructivist approaches.

This study is one of the few to investigate ecologically oriented ventures with large-scale empirical data by utilizing a 47-country data set. As a result, it begins to open the black box of environmental entrepreneurship by investigating the role of gender, seeking to understand if men and women entrepreneurs equally engage in environmental venturing. And it responds to calls that request more research at the intersection of gender and context in terms of environmental entrepreneurship.

While much has been debated about venture formation and demise, the behavioral dynamics of why entrepreneurs intend to continue and persevere post-startup have received scant attention and scrutiny. Building upon the rich tapestry of entrepreneurial cognition, the purpose of this paper is to forward entrepreneurial continuance logic as a theoretical framework to empirically investigate the antecedents, contingencies and mediators of entrepreneurial continuance.

Using observations from surveying 156 practicing entrepreneurs across the USA, UK, South Africa and India, this research offers interesting findings.

Results surface attitudinal tensions between the transactional attitudes of entrepreneurial climate, entrepreneurial responsiveness and calculative commitment and the relational attitudes of affective and normative continuance. Specifically, the authors find that affect is the strongest direct predictor of continuance intentions but only in the absence of entrepreneurial responsiveness behavior.

Entrepreneurial responsiveness, rather than commitment, is found to be a core continuance constituent, traceable as a positive influence on continuance as a direct antecedent, a moderator and a mediator.

The research reveals that entrepreneurs willing to seize and adapt to a changing entrepreneurial landscape are more like to continue with their ventures, but not just driven by strict underpinnings of affect and norms but by a strong sense of economic rationality.

Entrepreneurial continuance is an important behavioral phenomenon with substantial socio-economic consequences. Given the scant attention paid to entrepreneurial continuance – symptomatic of broader downstream effects of entrepreneurial survival and positive socio-economic spillovers, the authors embark on a systematic investigation of continuance intention as post-startup behavior.

The paper explains post-startup entrepreneurial behavior in several ways. First, while affective commitment, a relational attitude, still drives continuance intentions, calculative commitment, a transactional attitude, is a significant contender. Interestingly, the nature of contemporary entrepreneurship disregards continuance behavior based on norms. Second, entrepreneurial responsiveness needs to be cautiously examined in relationship to commitment and continuance. Entrepreneurial responsiveness, a transactional attitude, positively influences continuance; however, in the presence of a relational attitude such as affective commitment, the interplay reduces continuance intentions. Third, perceptions of entrepreneurial climate are found to trigger more opportunity-seeking behavior among entrepreneurs, which in turn increases an entrepreneur’s intention to continue.

Scholars have studied how entrepreneurs acquire resources but have not examined how resources may be bundled with constraints, which can threaten entrepreneurial autonomy. Organizational sponsors, such as incubators and accelerators, provide entrepreneurs with resources, but how do entrepreneurs sustain autonomy while seeking resources and support? We studied five entrepreneurial firms in a business incubator over a six-month period. While benefitting from incubator resources, entrepreneurs also experienced unexpected constraints, including mentor role conflict, gatekeeper control, and affiliation dissonance. By showing how entrepreneurs unbundled the incubator’s resources from constraints, we explain how entrepreneurs manage the tension between acquiring resources and preserving autonomy.

Machiavellian, narcissistic, and psychopathic traits are often viewed as negative or undesirable personality traits. However, recent research demonstrates that individuals with these traits possess qualities that may be personally beneficial within the business contexts. In this chapter, we conceptualize a balanced perspective of these traits throughout the entrepreneurial process (opportunity recognition, opportunity evaluation, and opportunity exploitation) and discuss human resources management strategies that can be employed to enhance the benefits, or minimize the challenges, associated with Machiavellian, narcissistic, and psychopathic traits. Specifically, we propose that Machiavellian qualities are most beneficial in the evaluation stage of entrepreneurship, and Machiavellian, narcissistic, and psychopathic qualities are beneficial in the exploitation stage of entrepreneurship.

Although scholarly inquiry into entrepreneurial stress has existed for nearly 40 years, little is known about how events drive stress responses in entrepreneurs, and how entrepreneur coping responses impact their well-being, relationships, and venture performance. In response to these deficiencies, the authors propose a stress events theory (SET) which they apply to an entrepreneurial context. The authors begin by providing a brief review of existing literature on entrepreneurial stress, which highlights unique stressors and events that entrepreneurs encounter. The authors then introduce event systems theory as developed by Morgeson, Mitchell, and Liu (2015). From this foundation, the authors develop SET, which describes how entrepreneurs react to particular event characteristics (novelty, disruptiveness, criticality, and duration). Additionally, the authors propose that how entrepreneurs interpret events drives coping choices, and that the accuracy of these coping choices subsequently differentiates the quality of entrepreneur well-being, interpersonal relationships, and venture-related consequences. The authors conclude with a discussion of contributions and areas of future research using our proposed theory.

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.