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Article
Publication date: 29 November 2018

Yancy Vaillant and Esteban Lafuente

The purpose of this paper is to examine the effects of past entrepreneurial experience on the reported innovativeness of serial entrepreneurs’ subsequent ventures.

Abstract

Purpose

The purpose of this paper is to examine the effects of past entrepreneurial experience on the reported innovativeness of serial entrepreneurs’ subsequent ventures.

Design/methodology/approach

Building on insights from the generative entrepreneurial learning process and from cognition theories, the authors propose that regardless of the type of entrepreneurial experience, positive or negative, such experience enriches the cognitive schemas of serial entrepreneurs leading them to greater reported innovativeness. The proposed hypotheses are tested on a unique sample drawn from a Catalan adult population survey.

Findings

Results reveal that practical experience is an essential prerequisite for entrepreneurial learning, and even negative entrepreneurial experience may induce generative entrepreneurial learning suitable for subsequent outperforming ventures for the psychologically strong who have managed to learn from their experience.

Practical implications

The importance of this study stretches beyond a purely academic discussion and has implications for policy making within the area of business and economic development. Appropriate policy depends on the likeliness for serial entrepreneurs to improve. Thus, if serial entrepreneurs learn from their venturing experiences and/or acquire valuable knowledge from them, they may perform better, on average, in subsequent ventures. If subsequent ventures do build upon prior entrepreneurial experiences, calls for policy to encourage re-entries by entrepreneurs may be warranted, even if those entrepreneurs performed poorly in their previous ventures.

Originality/value

The authors analyze the impact of past performance of serial entrepreneurs on the reported innovativeness of their subsequence ventures. The contributions of this study stand as: the inclusion of the re-entry decision together with the innovativeness decision of entrepreneurs within the same model; separation of the positive or negative nature of serial entrepreneurs’ past experiences; focus on the entrepreneur rather than the firm as a unit of analysis; the use of a unique primary data set specifically collected for the purpose of this study about the past entrepreneurial experience of the Catalan adult population.

Details

Management Decision, vol. 57 no. 11
Type: Research Article
ISSN: 0025-1747

Keywords

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Article
Publication date: 7 March 2018

Jorge Moreno-Gómez, Esteban Lafuente and Yancy Vaillant

This paper aims to investigate how gender diversity in top management – i.e. boardroom and top management positions – affects business performance among Colombian public…

Abstract

Purpose

This paper aims to investigate how gender diversity in top management – i.e. boardroom and top management positions – affects business performance among Colombian public businesses.

Design/methodology/approach

Building on the upper echelon theory which emphasizes that gender in an important characteristic that influences top management’s decision-making, panel data models are used on a sample of 54 Colombian public businesses for the period 2008-2015 to test the proposed hypotheses relating to gender diversity and subsequent business performance.

Findings

The results support that gender diversity is positively associated with subsequent business performance. More concretely, the relationship between gender diversity at the top of the corporate hierarchy – in the present case, as CEO and in the top management team – and subsequent performance becomes more evident when performance is linked to business operations (ROA), whereas the positive effect of women’s representation in the boardroom and subsequent performance is significant when performance is measured via shareholder-oriented metrics (ROE).

Originality/value

Few studies have addressed the role of gender diversity on performance in developing economies. This study contributes to better understand how gender diversity affects performance in contexts where women are underrepresented in the top management, and where the appointment of women directors or managers is not driven by regulatory pressures.

Details

Gender in Management: An International Journal, vol. 33 no. 2
Type: Research Article
ISSN: 1754-2413

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Article
Publication date: 29 November 2018

Esteban Lafuente, Yancy Vaillant and Jorge Moreno-Gómez

The purpose of this paper is to evaluate how different strategic choices related to the transitions in-and-out of exporting (export entry, export persistence, export exit…

Abstract

Purpose

The purpose of this paper is to evaluate how different strategic choices related to the transitions in-and-out of exporting (export entry, export persistence, export exit) impact employment growth in Romanian small- and medium-sized businesses.

Design/methodology/approach

Using linear regression models on a sample of 566 Romanian SMEs, The authors model employment growth as a function of three different dimensions of foreign market participation: export entry, persistence and exit.

Findings

Results indicate that exporting is positively associated with employment growth. The findings reveal that the different strategic choices linked to exporting have a differentiating impact on employment growth: while employment growth is more pronounced among new exporters which points to the presence of an impulse effect of exporting, businesses that interrupt their exporting activities report employment losses.

Research limitations/implications

This study underlines the relevance of distinguishing the specific impact of the different export behaviours related to the transitions in-and-out of exporting.

Practical implications

The results of the study fuel the debate on the relevance of promoting policies that encourage exporting among small businesses operating in emerging economies.

Originality/value

This study presents an original analysis of the distinctive effect that different forms of export behaviour related to the transitions in-and-out of exporting have on employment growth. The relevance of this study not only flows from the particular empirical design that simultaneously evaluates different export choices and their specific impact on employment growth.

Details

International Journal of Emerging Markets, vol. 13 no. 6
Type: Research Article
ISSN: 1746-8809

Keywords

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Article
Publication date: 26 September 2018

Yancy Vaillant and Esteban Lafuente

The purpose of this paper is to analyze whether business owners that simultaneously demonstrate past entrepreneurial experience and process agility have greater export…

Abstract

Purpose

The purpose of this paper is to analyze whether business owners that simultaneously demonstrate past entrepreneurial experience and process agility have greater export propensity levels.

Design/methodology/approach

The proposed hypotheses are tested using binary choice models relating past entrepreneurial experience and reported process agility on a unique sample of 246 Catalan business owners for the year 2010.

Findings

Consistent with the theoretical arguments on the relevance of generative-based cognitive agility, the results of this paper reveal that serial entrepreneurs demonstrate a greater export propensity. Additionally, the authors found that serial entrepreneurs who also demonstrate process agility show superior export propensity levels, compared to the group of business owners outside this ambidextrous group (first-time business owners without process agility).

Research limitations/implications

The findings of this study indicate that traits characterizing international marketing agility, decisional speed and accuracy are also linked with greater export propensity levels. The added export market expansion resulting from the opportunity responsiveness of serial entrepreneurs is found to be amplified by the accuracy of internal adaptation capabilities of process agility.

Practical implications

Therefore, the promotion of ambidextrous strategic agility coming from the complementarities between the benefits of entrepreneurial experience and adaptive process abilities is essential for increasing businesses’ internationalization.

Originality/value

The paper contributes to the literature by further exploring the influence of different sources of agility on the internationalization of entrepreneurial ventures and opens a link between entrepreneurs prone toward export market expansion and international marketing agility.

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Article
Publication date: 8 June 2021

Esteban Lafuente and Yancy Vaillant

This study aims to contrast the disparities in optimal competitiveness configurations across international economies. Additionally, we analyse the competitive efficiency…

Abstract

Purpose

This study aims to contrast the disparities in optimal competitiveness configurations across international economies. Additionally, we analyse the competitive efficiency across firms of different performance endowments to identify distinctions and determine whether standardised or customised competitiveness configurations are optimal.

Design/methodology/approach

This study uses a multilevel regression model to confirm country-specific effects followed by a non-parametric “Benefit-of-the-Doubt” (BoD) method to conduct an international comparison of the competitive efficiency of top- and poor-performing firms across eight European and Latin American economies.

Findings

Not only are national ecosystems significant differentiators of competitive efficiency, but contras firm-level characteristics also explain these differences. It is found that more recent start-ups tend to experience significantly greater competitive efficiency. However, by separating the top-performing firms from the poor performers in each economy, it is found that the configurational outputs that potentially contribute most to competitive efficiency are not necessarily the same; while “technology” is a key factor for driving the competitive efficiency of top-performing firms, “market” drivers are most essential for improving the competitive potential of poor performers.

Originality/value

The configurational outputs that potentially contribute most to competitive efficiency are not necessarily universal.

Details

European Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0955-534X

Keywords

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Article
Publication date: 16 July 2019

Esteban Lafuente and Yancy Vaillant

The purpose of this paper is to analyzes how board’s gender diversity, and more specifically a gender-balanced configuration – i.e. a proportion of women in the boardroom…

Abstract

Purpose

The purpose of this paper is to analyzes how board’s gender diversity, and more specifically a gender-balanced configuration – i.e. a proportion of women in the boardroom ranging between 40 and 60 percent – affects economic and risk-oriented performance in financial firms.

Design/methodology/approach

The empirical application uses a rich data set that includes detailed accounting and organizational information for all financial firms in the Costa Rican industry during the period 2000–2012. The proposed hypotheses are tested using panel data (fixed-effects) regression models that emphasize that bank performance is affected by various dimensions of the banks’ gender diversity.

Findings

The longitudinal analysis of the Costa Rican banking industry reveals that, unlike a proportion indicating a particular critical mass of women on the board, a balanced gender configuration yields superior economic performance (ROA and net intermediation margin). Additionally, the findings show that the performance benefits of gender diversity only exists in the presence of a gender-balanced board configuration, and that this positive effect is not conditioned by the presence of women leadership in the corporate hierarchy (Chair or CEO).

Originality/value

The paper further explores the influence of board gender diversity on organizational performance by adopting an approach to the gender diversity–performance relationship that goes beyond the mere representation of women within the corporate hierarchy.

Details

International Journal of Manpower, vol. 40 no. 5
Type: Research Article
ISSN: 0143-7720

Keywords

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Article
Publication date: 15 February 2013

Esteban M. Lafuente and Yancy Vaillant

The purpose of this paper is to examine the differential impact of entrepreneurial role models over entrepreneurial activities at different stages of an individual's life…

Abstract

Purpose

The purpose of this paper is to examine the differential impact of entrepreneurial role models over entrepreneurial activities at different stages of an individual's life cycle in Romania.

Design/methodology/approach

To attain this objective, the paper adopts a socio‐institutional approach to entrepreneurship. The authors carry out a rare‐events logit model using a robust Romanian dataset from 2006 comprising 1,449 individuals.

Findings

The results indicate that the effect of entrepreneurial role models on entrepreneurial activities differs across age groups. The results indicate that for older individuals the positive effect of role models over entrepreneurship is diluted. In contrast, younger individuals, who have been mainly exposed to a market‐based economy, have a more positive societal valuation of entrepreneurial examples, which increases the positive effect that the knowledge of an entrepreneur has on their attitudes towards entrepreneurial activities.

Originality/value

The main contribution of the study lies in the identification of the specific effect that role models have over individuals' level of implication in entrepreneurial activities. This gives ammunition to the argument that, rather than uniform entrepreneurship support programmes, the effective implementation of policies aimed at fostering entrepreneurship should be designed according to the specific profile of the targeted group of beneficiaries. In this case, the implementation of role models as an effective entrepreneurial promotion tool should take into account the differential impact that entrepreneurial examples have over individuals' behaviour towards entrepreneurship.

Details

Journal of Small Business and Enterprise Development, vol. 20 no. 1
Type: Research Article
ISSN: 1462-6004

Keywords

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Article
Publication date: 2 March 2015

Manoj Chandra Bayon, Yancy Vaillant and Esteban Lafuente

The purpose of this paper is to examine the direct effect of two individual-level resources, one subjective and the other objective, and their interaction in influencing…

Abstract

Purpose

The purpose of this paper is to examine the direct effect of two individual-level resources, one subjective and the other objective, and their interaction in influencing the business entry decision. By distinguishing perceived ability from actual ability and using theoretical underpinnings from the human capital theory and self-efficacy theory, the proposed hypotheses are tested on a data set comprising respondents from the adult population.

Design/methodology/approach

Using 20,046 observations from the adult population survey (APS) collected according to the global entrepreneurship monitor (GEM) methodology, a logistic regression analysis controlling for robust interaction term is used to determine the direct and interaction effect of perceived entrepreneurial ability and actual ability in influencing the decision to initiate nascent entrepreneurial activities.

Findings

The results reveal that perceived entrepreneurial ability has a distinct positive influence on the decision to initiate entrepreneurial activities and its impact is greater than that of actual abilities. Furthermore, the authors find evidence of a positive interaction effect suggesting that perceived entrepreneurial ability is a key determinant of entrepreneurial initiatives among those with high actual ability.

Originality/value

The main contribution of the study is to highlight the role of subjective judgements of ability in influencing entrepreneurial behaviour. Whereas prior research has found that actual ability influences new venture performance, its influence on new business entry was inconclusive. By including perceived entrepreneurial ability to the model the authors not only establish a link between objective (observable) abilities and subjective (unobservable) abilities of individuals but also suggest the mechanism through which subjective ability perception drive the business entry decisions of individuals.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 21 no. 1
Type: Research Article
ISSN: 1355-2554

Keywords

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Article
Publication date: 15 August 2016

Manoj Chandra Bayon, Esteban Lafuente and Yancy Vaillant

The purpose of this paper is to examine the direct and interaction effect of individuals’ human capital input and human capital output in the form of entrepreneurial…

Abstract

Purpose

The purpose of this paper is to examine the direct and interaction effect of individuals’ human capital input and human capital output in the form of entrepreneurial self-confidence on the decision to exploit innovative opportunities.

Design/methodology/approach

Using a strategic entrepreneurship perspective, the authors suggest that when individuals with high human capital decide to exploit opportunities they do so by thinking and acting strategically. Strategic action(s) involves pursuing competitive advantages that enable a new venture to get a foothold in the market. The authors argue that such competitive advantages arise from the exploitation of innovative opportunities and individuals with high human capital are more likely to exploit innovative opportunities when they develop entrepreneurial self-confidence. The empirical analysis is based on a random sample of individuals from the adult population who are in the process of creating a new venture.

Findings

The results suggest that although human capital inputs and human capital output in the form of entrepreneurial self-confidence are significant factors in influencing the decision to exploit innovative opportunities, human capital inputs interact in different ways with human capital output in influencing this decision.

Research limitations/implications

The main limitation of the authors’ study is the use of single item measures as indicators of innovative opportunity and human capital output (entrepreneurial self-confidence).

Practical implications

From a macro-perspective, the main implication of the study is that it is possible to assess the quality of entrepreneurship in an economy through individuals’ human capital and the proportion of innovative opportunities in the economy. Moreover, because not all types of human capital inputs influences the exploitation of innovative opportunities, policy makers can be selective in their policy interventions in spawning quality entrepreneurship in their economy.

Originality/value

Based on population-level data the authors’ study provides empirical evidence of the nature of entrepreneurial decisions being at the earliest phases of the entrepreneurial process. The study shows the importance of founders’ human capital inputs and outputs in influencing the quality of entrepreneurship in an economy. Moreover, the study extends the understanding the individual-opportunity nexus in promoting innovative entrepreneurship in an economy.

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