Faraci New Frontiers in Entrepreneurship

Recognizing, Seizing, and Executing Opportunities
1. Auflage 2009
ISBN: 978-1-4419-0058-6
Verlag: Springer-Verlag
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 248 Seiten

The volume presents and discusses a variety of recent developments and achievements in research on entrepreneurship. It focuses on the strategic aspects of entrepreneurship and new firm creation, and brings together the insights of an array of experts.

Autoren/Hrsg.

Faraci, Rosario

Inhaltsverzeichnis

1;Contents;6
2;Contributors;8
3;Chapter 1;10
3.1;Introduction;10
3.1.1;1.1 Our Objective;11
3.2;References;16
4;Part ICorporate Governance and Entrepreneurship;17
5;Chapter 2;18
5.1;Initially Distracted: The Influence of Boards on Agency Costs in Initial Public Offering (IPO) Firms;18
5.1.1;2.1 Literature Review;21
5.1.1.1;2.1.1 Agency Theory and Boards of Directors;21
5.1.1.2;2.1.2 Boards and IPO Performance;21
5.1.2;2.2 Theory Development;24
5.1.3;2.3 Discussion and Conclusion;32
5.2;References;34
6;Chapter 3;38
6.1;Horizontal and Vertical Relationships in Developing Economies: Implications for SMEs’ Access to Global Markets1;38
6.1.1;3.1 Inter Organizational Relationships, Collective Efficiencies, and SMEs’ Access to Global Markets;41
6.1.1.1;3.1.1 Promoting Collective Efficiencies Through Interfirm Coordination;41
6.1.1.2;3.1.2 Relational Governance as a Mechanism of Interfirm Coordination;42
6.1.1.3;3.1.3 Horizontal and Vertical Relationships and the Distinct Types of Collective Efficiencies;43
6.1.1.4;3.1.4 Collective Efficiencies and the Improved Access to Global Markets;46
6.1.2;3.2 Data and Methods;47
6.1.2.1;3.2.1 Industry Setting;47
6.1.2.2;3.2.2 Data Collection;47
6.1.2.3;3.2.3 Measures;48
6.1.2.4;3.2.4 Structural Equation Method;50
6.1.3;3.3 Results and Discussion;51
6.1.3.1;3.3.1 Measurement Model;51
6.1.3.2;3.3.2 Structural Model;60
6.1.3.3;3.3.3 Relational Governance and Collective Efficiency Hypotheses;61
6.1.3.4;3.3.4 Collective Efficiencies and Access to Global Market Hypotheses;63
6.1.3.5;3.3.5 Testing Alternative Models;63
6.1.3.6;3.3.6 Interpretation of Results;64
6.1.4;3.4 Implications and Conclusion;65
6.2;References;69
7;Chapter 4;74
7.1;Corporate Governance Systems: Effects of Capital and Labor Market Congruency on Corporate Innovation and Global Competitivene;74
7.1.1;4.1 Introduction;75
7.1.2;4.2 Basic Institutions: Capital and Labor Markets;77
7.1.2.1;4.2.1 Transactional Versus Relational Capital Markets;78
7.1.2.1.1;4.2.1.1 Ownership Structure;78
7.1.2.1.2;4.2.1.2 Executive Compensation;78
7.1.2.1.3;4.2.1.3 Board of Directors;79
7.1.2.1.4;4.2.1.4 Markets for Corporate Control;79
7.1.2.2;4.2.2 External Versus Internal Labor Markets;80
7.1.2.2.1;4.2.2.1 Selection;80
7.1.2.2.2;4.2.2.2 Monitoring;81
7.1.2.2.3;4.2.2.3 Accumulation of Skills and Knowledge;81
7.1.3;4.3 Institutional Congruence, Corporate Governance Systems, Corporate Innovations, and Global Competitiveness;81
7.1.3.1;4.3.1 The Market-Based System: The Case of the United States;82
7.1.3.1.1;4.3.1.1 Institutional Congruence;82
7.1.3.1.2;4.3.1.2 Emphasis on Explorative Innovations;85
7.1.3.2;4.3.2 The Relationship-Based System: The Case of Japan’s Bank-Centered Keiretsu System;87
7.1.3.2.1;4.3.2.1 Institutional Congruence;87
7.1.3.2.2;4.3.2.2 Emphasis on Exploitative Innovations;88
7.1.4;4.4 Discussion;90
7.1.4.1;4.4.1 Institutional Adjustments: Market-Based Systems;90
7.1.4.2;4.4.2 Institutional Adjustments: Relationship-Based Systems;91
7.1.4.3;4.4.3 Implications for Public Policy;92
7.1.4.4;4.4.4 Implications for High-Tech Management;93
7.1.4.5;4.4.5 Implications for Global Competitiveness;94
7.1.5;4.5 Conclusions;96
7.2;References;97
8;Chapter 5;101
8.1;The Entrepreneurial Society;101
8.1.1;5.1 Introduction;101
8.1.2;5.2 Role of Entrepreneurship in the Solow Economy;101
8.1.3;5.3 Knowledge as the Panacea to Growth?;103
8.1.4;5.4 The Entrepreneurial Society;106
8.1.5;5.5 Conclusions;110
8.2;References;111
9;Part II Mobilizing Capital for Fostering Entrepreneurship;112
10;Chapter 6;113
10.1;Mobilizing Capital for Fostering the Early Growth of Firms: The Role of Business Angels in Nascent European Entrepreneurship;113
10.1.1;6.1 Introduction: Entrepreneurship as the Capability of Recognizing, Seizing and Executing Opportunities;113
10.1.2;6.2 Entrepreneurial Capability as a Driver of Wealth Creation and Diffusion;115
10.1.3;6.3 Risk, Uncertainty and New Entrepreneurship: Filling the Equity Gap;117
10.1.4;6.4 The Role of Business Angels in Fostering New Entrepreneurship;118
10.1.5;6.5 The Contribution of the Business Angel Networks;120
10.1.6;6.6 Conclusions;124
10.2;References;125
11;Chapter 7;129
11.1;Venture Capital Financing and the Growth of New Technology-Based Firms: Correcting for Sample Self-Selection;129
11.1.1;7.1 Introduction;129
11.1.2;7.2 Literature Review;131
11.1.2.1;7.2.1 The Added Value of VC Financing;131
11.1.2.2;7.2.2 The Effect of VC Financing on the Growth of Portfolio Companies: The Empirical Literature;132
11.1.2.3;7.2.3 The Multi-stage Financing Process;134
11.1.3;7.3 The Sample;134
11.1.4;7.4 The Econometric Analysis;138
11.1.4.1;7.4.1 Specification of the Econometric Model;138
11.1.4.2;7.4.2 Variables;139
11.1.4.3;7.4.3 Econometric Results;141
11.1.5;7.5 Discussion and Conclusions;144
11.2;References;145
12;Part III Learning, Innovation and Entrepreneurship;149
13;Chapter 8;150
13.1;Creating Exploratory Innovations by Learning from Entrepreneurial Ventures;150
13.1.1;8.1 Introduction;150
13.1.2;8.2 Theory and Hypotheses;152
13.1.3;8.2.1 Diversity;155
13.1.4;8.2.2 Portfolio Codification;156
13.1.5;8.2.3 Portfolio Maturity;157
13.1.6;8.3 Research Context and Sample;158
13.1.7;8.4 Data and Measures;160
13.1.8;8.4.1 Dependent Variable;160
13.1.9;8.4.2 Independent Variables;161
13.1.10;8.4.3 Control Variables;162
13.1.11;8.4.4 Model Specification and Estimation;164
13.1.12;8.5 Results;165
13.1.13;8.6 Discussion;166
13.1.14;8.7 Limitations and Future Research;172
13.1.15;8.8 Conclusion;173
13.2;References;173
14;Chapter 9;177
14.1;Business-University Alliances and Innovation in New and Adolescent Technology Ventures;177
14.1.1;9.1 Business-University Alliances and Capability Development;179
14.1.2;9.2 Model Development;180
14.1.3;9.3 Top Management Team and Business-University Alliances;180
14.1.4;9.4 Business-University Alliances, Intellectual Capital and Innovation;184
14.1.5;9.5 Methodology;185
14.1.5.1;9.5.1 Research Setting;185
14.1.5.2;9.5.2 Model and Sample;186
14.1.5.3;9.5.3 Operational Measures;187
14.1.5.4;9.5.4 Top Management Team Characteristics;187
14.1.5.5;9.5.5 Firm-Specific Intellectual Assets;187
14.1.5.6;9.5.6 Geographic Munificence;187
14.1.5.7;9.5.7 University Alliance Formation;188
14.1.5.8;9.5.8 Innovation Performance;188
14.1.5.9;9.5.9 Control Variables;188
14.1.6;9.6 Results;188
14.1.7;9.7 Discussion and Conclusions;192
14.1.7.1;9.7.1 Limitations and Areas for Future Research;193
14.2;References;194
15;Chapter 10;198
15.1;A Test of Lazear’s Theory of Entrepreneurship in the Open Source Software Virtual Community;198
15.1.1;10.1 Introduction;198
15.1.2;10.2 Theory and Research Hypotheses;200
15.1.2.1;10.2.1 The OSS Context;200
15.1.2.2;10.2.2 Lazear’s Theory of Entrepreneurship;202
15.1.3;10.3 Empirical Analysis;203
15.1.3.1;10.3.1 Data;203
15.1.3.2;10.3.2 Definition of Variables;204
15.1.3.2.1;10.3.2.1 Dependent Variables: The Roles of Project Members;204
15.1.3.2.2;10.3.2.2 Key Regressors: Skill Level and Diversity of Individuals;206
15.1.3.2.3;10.3.2.3 Individual-Level Controls;207
15.1.3.2.4;10.3.2.4 Project-Level Controls;208
15.1.3.3;10.3.3 Descriptive Statistics;209
15.1.3.4;10.3.4 Regression Results;212
15.1.3.5;10.3.5 Robustness Checks;217
15.1.4;10.4 Conclusions;219
15.1.5;10.5 Appendix. Roles reported in SF.Net;220
15.2;References;220
16;Part IV Open Innovation and New Entrepreneurship;197
17;Chapter 11;223
17.1;Open Innovation and the Implications for Sustainable Profits*;223
17.1.1;11.1 Introduction;223
17.1.2;11.2 Contextual Factors;225
17.1.2.1;11.2.1 The Internet and Small Business;227
17.1.3;11.3 From Open Sourcing to Open Innovation;228
17.1.4;11.4 Effects on Economic Rents;229
17.1.4.1;11.4.1 Monopoly Rents;231
17.1.4.2;11.4.2 Ricardian Rents;235
17.1.5;11.5 Discussion;238
17.2;References;239
18;Index;243