FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2010 · FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2010 DETAILED TABLE OF CONTENTS Acknowledgements v Summary Table of Contents xv Detailed Table

A 2,69.

FRONTIERSOF

ENTREPRENEURSHIPRESEARCH

2010

PROCEEDINGS OF THE THIRTIETH ANNUAL

ENTREPRENEURSHIP RESEARCH CONFERENCE

Sponsored byArthur M. Blank Center for Entrepreneurship

Babson College, Babson Park, Massachusetts 02457-0310

Co-sponsored byIMD

&Ecole Polytechnique Fedirale de Lausanne,

EPFL with its partner Vale International SA

Sara CarterUniversity of Strathclyde

Andrew CorbettRensselaer Polytechnic

Institute

Frederic DelmarEMLYON

Evan DouglasUniversity of theSunshine Coast

© Babson College 2010

Edited byAndrew Zacharakis

Babson College

Marc GruberEcole Polytechnique

Fedirale de Lausanne

Benson HonigMcMaster University

Donna KelleyBabson College

Jill KickulNew York University

Hans LandstromLund University

Behoit LeleuxIMD

Tom LumpkinSyracuse University

Lou MarinoUniversity of Alabama

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2010

DETAILED TABLE OF CONTENTS

Acknowledgements v

Summary Table of Contents xv

Detailed Table of Contents xvi

BEST PAPER AWARDS

BABSON COLLEGE IRENE M. MCCARTHY AWARD FOR THE BEST PAPER ON THE TOPIC OF HIGH TECHNOLOGY

Revitalizing and Learning from Failure for Future Entrepreneurial GrowthYasuhiro Yamakawa, Mike W. Peng and David L. Deeds 261

NATIONAL FEDERATION OF INDEPENDENT BUSINESS (NFIB) AWARD FOR EXCELLENCEIN RESEARCH ON THE GENERAL TOPIC OF ENTREPRENEURSHIP

Linking Shared Authentic Leadership to Firm Performance: A Study of New Venture TopManagement TeamsKeith M. Hmieleski, Michael S. Cole and Robert A. Baron ' 171

THE STEVENS INSTITUTE OF TECHNOLOGY WESLEY J. HOWE AWARDFOR EXCELLENCE IN RESEARCH ON THE TOPIC OF CORPORATE ENTREPRENEURSHIP

Managing Human Resources to Achieve New Firm Growth: A Stewardship PerspectiveJake G. Messersmith and Matthew W.Rutherford 653

I. HARVEST

The Impact of Motivation and Causation and Effectuation Approaches on Exit StrategiesDawn R. DeTienne and Gaylen N. Chandler 1

The Post-Acquisition Performance of Acquired Entrepreneurial Firms

Charlotte Feys and Sophie Manigart 12

SUMMARIES

Dressing Up For a Big Wedding: The Importance of Legitimacy Building WhenRealizing an Exit by Trade SaleAnnelies Bobelyn, Bart Clarysse and Mike Wright ; 24

IPO Underpricing, The Perspective of the Issuing Firm: Money Left on theTable or Strategic Action?Markus A. Fitza and Daniel A. Lerner. 25

INTERACTIVE PAPERS

Exits of International Private Equity InvestmentsSofie De Prijcker and David Devigne 26

A Re-Conceptualization and Test of Exit, Exit Rates, Exit Routes, and the TenuousLink to Firm PerformanceDawn R. DeTienne 27


II. ANGEL FINANCING

Entrepreneurs' Trustworthiness: A Critical Ingredient for Attracting InvestmentAndrew Maxwell and Moren Levesque 29

The Importance Angels Place on Passion When Making Investment Decisions:Why Does It Matter to Some and Not All Angels?Cheryl R. Mitteness, Melissa S. Cardon and Richard Sudek 44

Experience, Heuristics and Learning: The Angel Investment ProcessDonald J. Smith, Richard T. Harrison and Colin M. Mason 58

SUMMARIES

Who Can I Rely On? Reliance on Different Sources of Trust in Business Angel InvestingSofia Avdeitchikova, Hans Landstrom and Nib M&nsson 71

Exploring the Informal Venture Capital Market: Who Becomes an Informal Investorand What Determines the Amount They Invest?Andrew Burke, Chantal Hartog, Abdel Ichou and Andre van Stel 72

The Relationship between Entrepreneurs, Angel Investors and Venture Capitalists;An Ethics and Governance PerspectiveYves Fassin and Veroniek Collewaert 73

INTERACTIVE PAPERS

The Impact of Start-Ups Initial Financial Strategy on Their PerformanceArnout Seghers 74

Heterogeneous Resource Endowments and Seed Capital Acquisition in Technology-Based Ventures: A Resource-Based AnalysisDavidM. Townsend and Lowell W. Busenitz 75

III. VENTURE CAPITAL

Venture Capitalists' Exit Strategy: A Dynamic Capabilities and Resource DependencePerspectiveVioletta Gerasymenko and Jonathan D. Arthurs 77

Do Follow-On VC Funds Outperform First Time Funds? A Learning PerspectiveMirjam Knockaert, Mike Wright and Robin DeCock 91

A Longitudinal Study on the Impact of Cross-Border Venture Capital on PortfolioCompany GrowthIne Paeleman, Tom Vanacker and David Devigne 105

SUMMARIES

Investor Characteristics as Determinants of Firm Value in Venture CapitalFinancing RoundsAndy Heughebaert and Sophie Manigart 118


Conditional Effects of CVC Funding from the Start-Up PerspectiveSharon F. Matusik, Michael B. Heeley and Markus A. Fitza 119

Failing to Learn or Learning to Fail: Consequences of Failed Investments for VCSyndication Strategies and PerformanceMikko Jaaskeldinen and Hana Milanov 120

"Maneuvering the Odds": Venture Capital Decision Making as a Dynamic andStochastic Knapsack ProblemJeffrey S. Petty, Marc Gruber and Dietmar Harhojf 121

Does Venture Capital Pay Off? A Meta-Analysis on the Relationship between VentureCapital Involvement and Firm PerformanceNina Rosenbusch and Verena Muller 122

Running with the Big Dogs: The Influence of a High-Reputation Venture CapitalInvestor on the Decision to Invest In a New IndustryRobert J. Wuebker, RolfWuestenhagen and Nina Hampl 123

INTERACTIVE PAPERS

The Influence of Venture Capital Fund Diversification on Risk and Return:The Effects of Investments in Different Financing Stages, Industries, and Regions ~*._Ann-Kristin Achleitner and Reiner Braun 124

The Role of Venture Capital Firms in the Business Model ChangeVioletta Gerasymenko, Dirk De Clercq and Harry J. Sapienza 125

What is So Unique about How VCs Evaluate 'Live' Presentations?Expert vs. Novice ComparisonsDenis A. Grigoire, Alice J. de Koning and Benjamin M. Oviatt 126

Toward a Process Model of Venture Capital Emergence: The Role of DiffusionDavid Lingelbach, Evan Gilbert and Gordon Murray. 127

Do Cultural Norms, Customs, and Traditions Matter? An ExploratoryStudy of Venture Capitalist Decision Preferences in ChinaZhiqiangXia, NoelJ. Lindsay, Pi-Shen Seetand Steve Goodman 128

IV. THE ENTREPRENEUR

Venture Capitalists in Firm Governance: Impact on Founder TurnoverBernaP.AksuandAnuWadhwa 129

A Plausible History and Exploration of Stevenson's Definition of Entrepreneurship

William B. Gartner and Ted Baker 142

SUMMARIES

Knowledge, Skills, and Abilities Used in Opportunity Recognition Processes:A FrameworkKaren Bishop 157


Do Risk Attitudes Differ Within the Group of Entrepreneurs?Joern H. Block, Philipp Sandner and Frank Spiegel 158

Entrepreneur as Endrepreneur: Planners, Improvisers, and Real OptionsNancy Forster-Holt 159

Different Paths of Ownership Transition in Entrepreneurial FirmsKarin Hellerstedt, Mattias Nordqvist and Karl Wennberg 160

Entrepreneurial Exit and Entrepreneurial EngagementJolanda Hessels, Isabel Grilo, Roy Thurik and Peter van der Zwan 161

How the Nature of Past Entrepreneurial Experience Shapes Intentions forHabitual EntrepreneurshipDan K. Hsu andjohan Wiklund 162

Emerging Strategies and Generation Gaps among Entrepreneurs: Differencesbetween Baby Boomers and Generation XDafna Kariv, Louis Jacques Filion and Candido Borges 163

Entrepreneurs' Life-Role Values and Work-Family Management Strategies:The Enactment of Person-Venture FitAegean Leung and Marilyn A. Uy 7. .164

The Essence of Entrepreneurial Learning

Magdalena Markowska 165

INTERACTIVE PAPERS

Entrepreneurial Activity across European CitiesMaksim Belitski and Julia Korosteleva 166Could It Be Time to Leave Your Salaried Job? An Experimental Analysis ofEntrepreneur's Time Allocation under Risk-Return TradeoffsKatrin Burmeister-Lamp, Moren Levesque and Christian Schade 167

Holding Hands or Moving Together? Complementarity of Venture Routines andInventor Involvement in University Spinoff SuccessJari Konttinen, Robert P. Van der Have and Pankaj C. Patel 168

Does Entrepreneurs' Emotional Intelligence Impact Performance?The Mediating Role of Managerial Style and Social CapitalRonit Yitshaki and Mirly Rothstein 169

V. ENTREPRENEUR CHARACTERISTICS

NATIONAL FEDERATION OF INDEPENDENT BUSINESS (NFIB) AWARDFOR EXCELLENCE IN RESEARCH ON THE GENERAL TOPIC OF ENTREPRENEURSHIP

Linking Shared Authentic Leadership to Firm Performance: A Study of New Venture TopManagement TeamsKeith M. Hmieleski, Michael S. Cole and Robert A. Baron 171

Entrepreneur's Exit Experience and Growth AspirationErkkoAutio and Saurav Pathak 186


Entrepreneurs as Authentic Transformational Leaders: Critical Behaviors forGaining Angel CapitalCheryl R. Mitteness, Richard Sudek and Melissa S. Baucus 202

Does Biology Matter? How Prenatal Testosterone, Entrepreneur Risk Propensity, andEntrepreneur Risk Perceptions Influence Venture PerformanceCheryl A. Trahms, Joseph E. Coombs and Murray Barrick 277

Feeling, Thinking, Doing: Affective Influences on Goal Progress and Entrepreneurial EffortsMarilyn A. Uy and Maw-Der Foo 230

SUMMARIES

Who Has the Right to Be an Entrepreneur? The Theoretical Foundations ofEntrepreneurial LegitimacyGreg C. Fisher 244

From Entrepreneurial Intention to Action: Motivation versus Volition as Explanationsof the (Unintentional) Intention-Action GapMarco van Gelderen, Teemu Kautonen and Erno T. Tornikoski 245

The Role of Reputation in the Entrepreneurial Process: A Conceptual ModelJames M. Haynie and Randy Blass TV 246

Entrepreneurial Archetypes in Making Sense of the Structural HolesAntti J. Kauppinen and Vesa J. Puhakka 247

Stanford University and High-Tech Entrepreneurship: An Empirical StudyHerve Lebret 248

Do What Nascent Entrepreneurs Think Others Think Influence Business Start-UpIntentions and Behavior: A Longitudinal StudyNoelJ. Lindsay, Wendy A. Lindsay, Anton Jordaan, and Fredric Kropp 249

Entrepreneurial Skills: Qualitative and Quantitative Confirmation of a Model ofEntrepreneurial CompetenceChristophe Loue and Jacques Baronet. 250

Explaining Entrepreneurial Intent and Behavior: Moderating Effects of Efficacy andControl BeliefsErik Monsen, Diemo Urbig, Maija Renko, Ayman El Tarabishy and Leon Schjoedt 251

Entrepreneurial Opportunities: Bricolage, Art, Craft, Engineering, and BrokerageBryan T. Stinchfieid, ReedE. Nelson andMatthewS. Wood. 252

Entrepreneur Leadership and New Venture Performance — An Empirical Investigationon the Moderating Role of New Venture ContextBastian Winkenbach 253

INTERACTIVE PAPERS

"You Can't Always Get What You Want" - Why Nascent Entrepreneurs Change TheirGrowth Expectations during the Start-Up ProcessHeiko Bergmann andjurgita Baltrusaityte-Axelson 254

xrii FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2009

Hot Flashes and Global Warming: Which Type of Affect Drives EntrepreneurialCreativity?Melissa S. Cardon 255

The Creative Entrepreneur — Myth or Reality? Findings from Psychometrical TestingBeate Cesinger, Petra Gelleri, Carolin Winter and Daniela Putsch 256

New Venture Top Management Team Intra-Group Abusive Behavior and FirmPerformance: A Moderated Mediation StudyKeith M. Hmieleski, Michael S. Cole and Bennett J. Tepper 257

Measuring the Change of Entrepreneurial Attitudes of University StudentsAsun Ibdnez, OierMarigil, Ana'is Iglesias, Isabel Fernandez and Paul San Sebastian 258

A Test of ̂ sop's Fable: Tortoises and Hares in the Race to Start and Build BusinessesJonathan Levie, Mark Hart, Alpheus Thlomole andAlona Martiarena 259

Attractiveness of Venture Idea amongst Expert Entrepreneurs: A Conjoint AnalysisDissanayake M. Semasinghe 260

VI. ENTREPRENEURIAL COGNITION _

BABSON COLLEGE IRENE M. MCCARTHY AWARD FOR THE BEST PAPERON THE TOPIC OF HIGH TECHNOLOGY

Revitalizing and Learning from Failure for Future Entrepreneurial GrowthYasuhiro Yamakawa, Mike W. Peng and David L. Deeds 261

Cognitive Control Bias and Decision-Making in Context: Implications for EntrepreneurialFounders of Small FirmsJon C. Can and Daniela P. Blettner 272

How Experience Shapes the Subjective Evaluation of Business OpportunitiesMarc Gruber, SungMin Kim and Jan Brinckmann 285

Grief or Relief? Emotional Responses to Firm FailureAnna S. Jenkins, Ethel Brundin andjohan Wiklund 300

Effective Heuristics for New Venture Formation

Jeroen Kraaijenbrink 316

SUMMARIES

A Longitudinal Analysis of Antecedents and Consequences of Sense-Making Activitiesby Nascent EntrepreneursJan Brinckmann and SungMin Kim 330

I Think Therefore I Learn? Entrepreneurial Cognition, Learning and Knowing inPracticeJason Cope and Simon Down 331

Entrepreneurial Decision Making in High Tech Business Development:A Quasi-ExperimentAard Groen and Jeroen Kraaijenbrink 332

DETAILED TABLE OF CONTENTS xxiii

Even a Blind Squirrel Sometimes Finds a Nut: Can a Deficit in Prior KnowledgeEnhance Opportunity Recognition?James M. Haynie and Alex McKelvie 333

Unifying Three Contending Approaches to Explaining Early Stage EntrepreneurialDecision-Making and BehaviorKevin Hindle and Martin Senderovitz 334

On the Use of Effectuation versus Causation in the New Venture Creation Process:The Role of Resources versus the EnvironmentJan Lepoutre, Miguel Meuleman and Olivier Tilleuil 335

Disinhibition, Inhibitory Control, &• Entrepreneurship: Inhibitory Underpinnings ofRisk Taking, Creativity, Proactivity and VenturingDaniel A. Lerner 336

Curry in a Hurry? A Longitudinal Study on the Acceleration of Performance ThroughEffectuation by Nascent EntrepreneursReneMauer, Willem Smit, William Forster and Jeffrey York 337

Experts Rely Less on Planning than Novices: Evidence for Effectuation from NascentTechnology CommercializersErikMonsen, Courtney Price and Sandra Miller ."]' 338

What is Good about Being Biased?Ksenia Podoynitsyna, Hans van der Bij and Michael Song 339

Analogical Properties of Entrepreneurial Opportunities and Their Effects on JudgmentUgur Uygur 340

Are You Talking To Me? Population Rates as Signals of Entrepreneurial OpportunitiesMatthew S. Wood, William McKinley and Suzanne Nasco 341

INTERACTIVE PAPERS

Entrepreneurial Intentions for Subsistence, Lifestyle, Speculative and GrowthOpportunities: The Impact of Differing Perceptions of Desirability and FeasibilityEvan J. Douglas and Bari Lynn Bendell 342

Does Entrepreneurship Education Have a Lasting Effect? A Study of the Careers of3,894 Business School AlumniJulian Lange, Edward Marram, Silvana Pencheva, Yan Tan and William By grave 343

Entrepreneurship by User-Innovators: How Prevalent is it and How Do Their Attitudesand Aspirations Differ from Other Entrepreneurs?RognvaldurJ. Saemundsson and Eric von Hippel 344

Cognitive Insight and Entrepreneur Decision-Making: An Experimental Investigationof Self-Reflectiveness in Opportunity IdentificationDavid M. Townsend and Steven M. Ban 345

An Underlying Mechanism of Entrepreneurial Decision Making: A Cognitive-Affective-Social Process System ApproachQian Ye and Sherry Thatcher 346


VII. THE ENTREPRENEUR AND NETWORKS

Serendipitous Entrepreneurship

Karl Wennberg 347

SUMMARIES

Social Capital or Social Skills: Evidence from the PSED I and PSEDIIAmyE. Davis and Kelly G. Shaver 363Prior Business Experience and Start-Up Success; The Moderating Role ofHelpers ExploredJoris Heuven and Paul Kirwan 364

Control or Comply: The Interplay of Individual Firm-Level CooperativeStrategies and Network Opportunism When Estimating InnovationPerformance in Strategic NetworksDaniel Ortqvist, Jessica Eriksson andjoakim Wincent 365

Fair Governance and Good Citizenship Behavior: A Recipe for Succeeding inStrategic Networks?Daniel Ortqvist 366

Entrepreneurial Philanthropy: Theoretical Antecedents and Empirical Analysis ofEconomic, Social, Cultural and Symbolic CapitalEleanor Shaw, Jillian Gordon, Charles Harvey and Kay Henderson 367

Entrepreneurs' Network of Networks: Studying Entrepreneurs' Social NetworkStructure Using Smart-Phone DataYang Song and Tsvi Vinig 368

Does a Clustered Location Matter for High-Technology Companies' Survival andGrowth? The Case of Bio-Technology in GermanyVartuhi Tonoyan, Robert Strohmeyer and Michael Woywode 369

INTERACTIVE PAPERS

Online Social Networks as an Emerging Opportunity for Entrepreneurship: A Study ofthe Music IndustryMaria Kaya and Paul Steffens 370

Relationships and Resources: How Nascent Entrepreneurs Develop and LeverageNetworks in the Incubation ProcessStevenF. Tello, Yi Yang and Scott Latham 371

The Mobility of Nascent Entrepreneur's Social Capital and Venture GestationMai Yiyuan, Xuena Gu and Qian Ye 372


VIII. WOMEN ENTREPRENEURSHIP

Comparing the Performance of Female- and Male-Controlled SMEs: Evidence from theUnited States and AustraliaAlicia Robb and John Watson 373

SUMMARIES

Gender Embeddedness of Women Entrepreneurs: An Empirical Test of the 5 "M"FrameworkCandida G. Brush, Anne de Bruin, Friederike Welter and Elaine I. Allen 385

Stereotype Spillover: Does Gender Impact Perceived Venture Risk and Viability?Carin Holmquist and Erik Wetter 386

Women Entrepreneurs: Does Perseverance Matter?Grace Kim 387

Role of Social Capital and Self-Efficacy in Opportunity Recognition of FemaleEntrepreneurs: Insights from Turkey and VietnamAkin Kocak, AnhT. Phan and Vincent Edwards 388

Gendered-Necessity and Gendered-Opportunity: Women Entrepreneurshipin JapanAegean Leung, Philippe Debroux and Christienne Hinz. 389

Why are Women Less Likely to Become Entrepreneurs than Men? A Jack-Of-All TradesPerspective of Human CapitalRobert Strohmeyer, Vartuhi Tonoyan and Michael Woywode 390

INTERACTIVE PAPERS

Characterizing the Female Entrepreneur: Comparing Behavior in a Market EntryExperiment with Other Groups of IndividualsChristian Schade and Sabrina Boewe 391

IX. THE ORGANIZATION

Enhancing Innovation Performance through Exploiting Complementarity inSearch Breadth and DepthPankaj C. Patel and Robert P. Van derHave 393

SUMMARIES

Toward the Development of a Firm Innovation Capability Scale for the Services Sector:A Grounded ApproachPeter Balan 405

How Much Pre-Launch and Post-Launch Planning Takes Place and How MuchDifference Does It Make?Bruce R. Baninger 406

Absorptive Capacity and Its Impact on New Venture PerformanceGreta Greve 407

xxvi FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2009

An Integrated Approach of Measuring the Development of Innovative Spin-OffVenturesMagnus Klofsten and Charlotte Norrman 408

Commercializing New Technologies: The Impact of Liability of Newness, Liability ofSmallness, and Technological InnovativenessFranz Lohrke, Barbara Bird and Rachel Gordon 409

Capital Structure and New Venture PerformanceManjula S. Salimath : 410

The Role of Bricolage and Resource Constraints in High Potential SustainabilityVenturesJulienne M. Senyard 411

Entrepreneurial Learning: Past Research and Future Challenges

Catherine L. Wang and Harveen Chugh 412

INTERACTIVE PAPERS

A Closer Look at Business Planning: Early Stage Outcome Effects of HowIt is Prepared and UsedPer Davidsson and Benson Honig 413

A Process Model of Organizational SpeciationDavid Lingelbach, Evan Gilbert and Gordon Murray 414

X. TEAMS

Entrepreneurial Team Formation: Any Rationality?Cyrine Ben-Hafaiedh-Dridi 415

Co-Creating New Ventures: Attraction, Search, and Uncertainty in Founding PartnershipFormationWilliam Forster and Karen Jansen 430

The Fundamental Role of Absorptive Capacity in the Opportunity Exploitation Stage, It'sAntecedence and the Effect on New Ventures PerformanceTali Sivan, Avi Fiegenbaum, Miriam Erez and Uzi De-Haan 445

SUMMARIES

Is Stacking the Deck a Good Idea? An Examination of the Effect of Pre-IPO TopManagement Additions on Post-IPO PerformancePatricia S. Borchert 460

Decision Biases in Entrepreneurial TeamsNicola Breugst, Dean A. Shepherd and Holger Patzelt 461

The Impact of Personality Traits on Individuals, Teams and Venture PerformanceStephanie Stierlen, Rene Mauer and Florian Weiss 462


Entrepreneurial Team Composition: The Impact of Task-Matched Personality Traitsand Team Processes on Venture SuccessFlorian Weiss and Malte Brettel 463

The Role of Board of Directors in UK Early Stage High-Growth High-TechnologyVenturesJoanne Jin Zhang, Charles Baden-Fuller and John K. Pool. 464

INTERACTIVE PAPERS

Collective Entrepreneurship: Beyond DichotomiesElizabeth J. Gatewood and Jeanne M. Simonelli 465

Problem Solving in Small Innovative FirmsFerdinand Jaspers and Jan van den Ende 466

Performance and Decision Making: How Different are Team Start-Ups and theLonely Heroes?Sven Kleinknecht, Stavroula Laspita and Heinz Klandt 467

XI. GOVERNANCE

SUMMARIES

Overcoming the Liability of Theoretical Newness: The Case for Stewardship TheoryJustin Craig, Clay Dibrell and Donald Neubaum 469

XII. STRATEGY

Much Ado about Nearly Nothing? An Exploratory Study on the Myth of High GrowthTechnology Start-Up EntrepreneurshipMalin Brannback, Niklas Kiviluoto, Alan Carsrud and Ralf Ostermark 471

Ready to Launch? Growth-Oriented Ventures and the Pursuit of Angel FinancingCandida G. Brush, Linda F. Edelman and Tatiana S. Manolova 485

Resource Bootstrapping of Nascent Entrepreneurs: Conscious EntrepreneurialDecision or Forced Reaction?Dietmar Grichnik and Luv Singh 500

SUMMARIES

Diversification by Young, Small FirmsRui Baptista, MuratKaradz andjoao Correia Leitao 515

Putting Old Wine in New Bottles? How Business Models and Business ModelInnovation Relate to Performance in the Wine IndustryDavidL. Brannon 516

The Role of Management in Dealing with New Product Development Failures inHigh Technology New FirmsRobin Buerger, Diemo Urbig, Holger Patzelt and Anne Domurath 517


The Social and Entrepreneurial Orientation of Small Businesses: MutuallyExclusive or Reinforcing?Tomasz Mickiewicz, Amis Sauka and Ute Stephan 532

Business Model Development and Performance in Swedish University Spin-OffsMarie Lowegren 533

The Effect of Exploration and Exploitation on Firm Performance: Understanding theRole of Strategic LearningCharlottaA. Siren, Marko Kohtamaki and Andreas Kuckertz 534

The Life of Fibers: Textile Competition through Human Capital BricolageErin Smith and Ted Baker 535

XIII. FAMILY ENTERPRISE

SUMMARIES

The Effect of Reputation on Entrepreneurial Behaviour in Family Firms:A Resource PerspectiveEric A. Clinton, Roberts. Nason and Thomas M. Zellweger • 537

Which Aspects of "Familiness" Influence Continuous Strategic Renewal inFamily Firms?Sarah Drakopoulou Dodd and Vasilis Theoharakis 538

' The Successors or the Neglected Perspective in Company Succession in Family FirmsSusanne Durst, Urs Baldegger and Frank Halter 539

Succession Financing in Family FirmsChristian Koropp, Dietmar Grichnik and Andri F. Gygax 540

Corporate Social Responsibility and Entrepreneurship — An Empirical Analysis of 500Family and Non Family BusinessesChristine Volkmann, Kim Oliver Tokarski and Christiane Blank 541

The Impact of Relationship Conflict on Socioemotional Wealth Considerations ofFamily Firm OwnersThomas M. Zellweger, Franz W. Kellermanns and Tobias Dehlen 542

INTERACTIVE PAPERS

The Role of Networking in the Growth Processes of Family Firms:An International StudySarah Drakopoulou Dodd, Sarah Jack and Alistair Anderson 543

Is Story Sufficient? Persuading the Older Generation in Family Businesses to AcceptStrategic ChangePei-Chi Huang and Fei Zhu 544

Family Owned Businesses and the Concept of Fit: The Impact of Family Influence onStrategy, Structure and PerformanceCorinna Lindow, Stephan Stubner and Torsten Wulf 545


New Ventures Creation and Diversification Strategies of Family BusinessGroups in IndiaKavil Ramachandran andAjay Bhalla 546

Entrepreneurial Orientation and Performance in Family-Owned Firms:The Role of Family ManagementSalvatore Sciascia, Francesco Chirico and Pietro Mazzola 547

XIV. THE ORGANIZATION AND NETWORKS

The Social Capital of Venture Capitalists and Its Impact on Their Investments inStart-Up FirmsOliver Alexy, Philipp Sandner and Anne ter Wai 549

SUMMARIES

Customer Integration and New Product Performance in Technology-BasedNew VenturesPetra Findeisen and Timo Moeller 565

Fat-Tailed Distributions: A Look at High Performing New VenturesCasey J. Frid and David M. Wyman 566

The Sustainability of Clusters- Consequences of Different Governance Regimesof Top-Down and Bottom-Up Cluster InitiativesCarola Jungwirth and Elisabeth Midler 567

Is Pyramiding Search Applicable for an Efficient Identification of Strategic Targets?An Empirical Exploration of the Performance of a Network Based Search Methodto Identify Strategic Partners and/or Investment Targets in the Context of Biotech Start UpsGiordano Koch and Reinhard Prugl. 568

Network Relationships for Entrepreneurial Orientation and Growth: An EmpiricalStudy of New Ventures and Small FirmsSari Roininen, Vinit Parida, Mats Westerberg and Hakan Ylinenpda 569

INTERACTIVE PAPERS

The Role of Slack to Explain Network Search Strategies of Resource Constraint FirmsJohan Bruneei, Mirjam Knockaert and Philippe Mustar 570

XV. ENVIROMENT

Entrepreneurship in Peripheral versus Core Regions: Lessons from ChileJosi Ernesto Amords, Christian Felzensztein and Eli Gimmon 571

Regional Concentration of Entrepreneurial ActivitiesGraciela Kuechle 586

Artistic Influences and Innovation in the Popular Music IndustryErik Noyes, I. Elaine Allen and Salvatore Parise 601


National Cultural Values, Firm's Cultural Orientations, Innovation, and Performance:Testing Cultural Universals and Specific Contingencies across Five CountriesAndreas Rauch, Michael Frese, Zhong-Ming Wang and Jens Unger 611

SUMMARIES

Romanticizing Penniless Entrepreneurs? Poverty, Vulnerability, Non-MonetaryWelfare and Business Start-Up Rates across CountriesJose Ernesto Amords, Oscar Cristi and Wim Naude 625

The Impact of Entrepreneurial Orientation on Business Model SelectionJussi Autere, Juhana Peltonen and Aku Valtakoski 626

Sarasvathian Effectuation and Weickian Enactment in the EntrepreneurialOpportunity ProcessSanjay Bhowmick 627

The Territorial Impact of the European "Family-Firm Life Cycle"Zografia Bika 628

Are They Really Helping? An Assessment of Evolving Business Incubators' ValuePropositionJohan Bruneel, Tiago Ratinho, Bart Clarysse andAard Groen -^. 629

Toward a Simple Theory of Complex OpportunitiesG. Christopher Crawford 630

< The Emergence and Evolution of an Opportunity: A Historical AnalysisDimo Dimov and David Gras 631

Micro-Family-Owned Businesses in Hostile Environment: Future Engine for Growth?Christophe Garonne and Virginie Vial 632

Is There a Sweet Spot for U.S. Metropolitan Areas? Exploring the Growth inEmployment and Wages in U.S. Entrepreneurship and Technology Centers inMetropolitan Areas over the Last Business Cycle, 1991 to 2007Ross Gittell, Jeffrey Sohl and Edinaldo Tebaldi 633

The Location Decision of Entrepreneurs in Multi-State Metropolitan AreasStephan F. Gohmann, Joshua C. Pinkston and Michael D. Crum 634

Back to the Environment—Exploring the Differential Effects of the IndustryKnowledge Base on New Venture Performance and SurvivalBarbara Lanaheta Gomez-Caminero, Lucia Naldi and Els Van de Velde 635

New Industry Emergence: The Multi-Industry Terrain of NanotechnologyEntrepreneurshipErik Noyes 636

Where and Why in America? Business Start-Ups in the Continental United Statesfrom 1990 to 2006Larry Plummer 637

Institutional Approach on Growth-Oriented EntrepreneurshipPekka Stenholm, Erkko Autio and Zoltan J. Acs 638

nodi FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2009

Entrepreneurial Ventures and Knowledge Spillovers: Case of an Indian Software ClusterFlorian Taube, Petra Sonderegger and Amit Kama 639

INTERACTIVE PAPERS

Contrasting the Creation and Discovery Theories of Entrepreneurial Action: AComparative Case StudyBruce R. Barringer 640

Domestic Migration and New Business Creation in the United StatesC. Christopher Baughn, KentE. Neupert and Jeff Sugheir 641

Complements or Substitutes? The Role of Universities and Local Context in Supportingthe Growth of Academic Spin-OffsRiccardo Fini, Rosa Grimaldi, Simone Santoni and Maurizio Sobrero 642

Portfolio Entrepreneurship in Emergent Nations, the Effects of Risk and theEnvironmentAntonio C. Malfense Fierro 643

Knowledge Spillovers, Absorptive Capacity and Entrepreneurship in U.S. CitiesNivedita Mukherji and Jonathan Silberman 644

XVI. INTERNATIONAL

SUMMARIES

Untangling the Relationship between New Venture Internationalization andPerformanceStephanie A. Fernhaber and Patricia P. McDougall-Covin 645

Friends with Money? Entrepreneurial Personal and Financial Networks and theInternationalization of Growing Ventures in a Transition EconomyTatiana S. Manolova, Ivan M. Manev and Bojidar S. Gyoshev 646

Towards Operationalization of Cross-Cultural Competence in Identifying InternationalBusiness OpportunitiesOlga Muzychenko 647

Immigrant Entrepreneurship and Host Market Unfamiliarity

Jorg Zimmermann 648

INTERACTIVE PAPERS

Substitutes or Complements?: The Effects of Alliances and Corporate Venture Capitalon Intensity of New-Venture InternationalizationManuela N. Hoehn-Weiss and Joseph A. LiPuma 649

Causes and Consequences of Loose Coupling in Portfolio Entrepreneurship forInternational New VenturingSara L. McGaughey 650


Individual, Team, and Organizational Level Learning in New Entrepreneurial Ventures -The Key to Success All Over the World?Jessica D. Rottenberger 651

Entrepreneurs' Decisions to Internationalize Early: Evidence from Verbal ProtocolsDavid W. Williams and Denis A. Gregoire 652

XVII. CORPORATE ENTREPRENEURSHIPTHE STEVENS INSTITUTE OF TECHNOLOGY WESLEY J. HOWE AWARD FOR EXCELLENCE INRESEARCH ON THE TOPIC OF CORPORATE ENTREPRENEURSHIP

Managing Human Resources to Achieve New Firm Growth: A Stewardship PerspectiveJake G. Messersmith and Matthew W. Rutherford 653

Corporate Entrepreneurship and the Micro-Foundations of Dynamic Capabilities

AndrewC. Corbett and Heidi M. Neck 667

SUMMARIES

Related or Unrelated? A Behavioral and Entrepreneurial Action Perspective ofCorporate Venturing LogicSteven W. Bradley, Kimberly M. Green and Timothy R. Holcomb 77.- 682

A Longitudinal Assessment of the Effect of Entrepreneurial Orientation onOrganizational Learning and Firm PerformanceVishal K. Gupta and Devkamal Dutta 683

Countervailing Effects of Innovation Proactiveness in SMEsThomas Lechler 684

Non-Linear Effects of Family Management on Entrepreneurial Orientation in Family-Owned FirmsPietro Mazzola, Salvatore Sciascia and Francesco Chirico 685

Shades of Green: Entrepreneurial Influences on Environmental Practice Adoption

Jason C. Senjem and Jessica Richards 686

INTERACTIVE PAPERS

Collaborative Product Development by Born Globals: Analyzing the TechnologyAlliance CapabilityLiliyaAltshuler and UlfElg 687A Conceptual Model of Corporate Entrepreneurial BehaviorOlga Belousova, Benoit Gailly and Olivier Basso 688

Effectual Cells: Fostering Innovation-Based Corporate Entrepreneurship throughConditions for Effectual ProcessesAlvaro Filipe da Costa 689

Men of Action - The Influence of Organizational Improvisation on OpportunityRecognitionThomas Schrettle, Urs Fueglistaller, Alexander Fust and Joerg-Michael Gasda 690


XVIII. PUBLIC POLICY OTHER

Performance Analysis of Entrepreneurship Policy: Which Business Incubators Generate theHighest Levels of Economic Performance?Alejandro S. Amezcua 691

What Turns Knowledge into Innovative Products? The Role of Entrepreneurship andKnowledge SpilloversJoern H. Block, Roy Thurik and Haibo Zhou 706

SUMMARIES

Business R&D Subsidies in Germany: The More the Better?Christian Schultz 721

A Green - Entrepreneurial — Deal? Explaining the Development of Green Ventures andthe Role of Government SubsidiesMarijn van Week, Neil Thompson, Andrea Herrmann and Erik Stam 722

INTERACTIVE PAPERS

Academic Entrepreneurs: The Role of Star Scientists in Commercialization ofRadical ScienceReddi Kotha and Gerard George 723

XIX. SOCIAL ENTREPRENEURSHIP

SUMMARIES

Changing Patterns of Resource Bundles and Capabilities in European Social VenturesTomislav Rimac and Johanna Mair 725

Institutional Innovation: Opportunity Creation, Resistance, and Conflict ManagementTomislav Rimac and Johanna Mair 726

Where Money and Meaning Intersect for Social Entrepreneurs and Investors:An Econometric Approach to Understanding Investor DecisionsJillR. KickulandMark Griffiths 727

INTERACTIVE PAPERS

Family Ownership, Innovation and Other Context Variables as Determinants ofSustainable Entrepreneurship in SMEs: An Empirical Research StudyMarta Berent-Braun, Lorraine Uhlaner, Gerrit de Wit and Ronald Jeurissen 728

Collective Effervescences: How Social Entrepreneurship Emerged and Evolved in aMinority CommunityEmerNiBhrddaigh 729


XX. RESEARCH METHODS

SUMMARIES

A Novel Approach to the Study of the Temporal Sequence of Gestation ActivityFerdinand Jaspers and Tony Hak 731

The Development and Validation of an Objective Entrepreneurial Orientation ScalePatrick Kreiser, Louis D. Marino, Carl L. Tolbert and Bill Wales 732

INTERACTIVE PAPERS

Using Simulation Experiments to Build and Test Entrepreneurship TheoriesG. Christopher Crawford and Bill McKelvey 733

Assessing the Methodological Rigor of Entrepreneurship Research:The State of the FieldDavid Noble, Louis D. Marino, Anthony C. Hood, Helenka H. Nolan andChristopher J. Simmons 734

XXI. EDUCATION OTHER _

SUMMARIES

Re-Storying an Entrepreneurial Identity: Education, Experience and Self-NarrativeSusan S. Harmeling 735

On the Commercialization of Radical Technologies through Academic Spin-Offs —The Role of Patent Protection and Technology DynamicsArne Schmidt, Sascha G. Walter andAchim Walter 736

INTERACTIVE PAPERS

Does Entrepreneurship Education Really Work: A Longitudinal Outcome Study ofThree University-Based E-Ed ProgramsElaine C. Rideout and Denis O. Gray 737

Effects of Entrepreneurship Education: The Interplay of Modes of Education andRegional ContextSascha G. Walter 738

Documents

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2010 · FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2010 DETAILED TABLE OF CONTENTS Acknowledgements v Summary Table of Contents xv Detailed Table