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We examined the relationship between employee equity compensation, incentive compensation, and firm growth using a sample of 480 privately held firms from the Ewing Marion Kauffman Foundation’s database of Ernst & Young Entrepreneur Of The Year (EOY) winners. Using frameworks from agency and motivation theories, we argued that larger percentages of both equity- and incentivebased compensation allocated to top managers and employees would be associated with firm growth. After controlling for firm and industry effects, the results of the study showed that while the firms in the sample preferred providing incentive compensation, providing equity compensation for employees was a positively significant predictor of firm growth over a three-year period. These findings suggest that prescriptions for growth in larger firms developed from agency theory also may be applicable to entrepreneurial firms, and founder/CEOs seeking to grow their firms should consider using equity compensation to motivate their current employees and to attract new ones.

Entrepreneurship and leadership may flow from the same genealogical source and the appearance of separation of the two constructs may be due to differences in the contexts through which the root phenomenon flows. Entrepreneurship and leadership are figuratively different manifestations of the need to create. To better understand the origin of entrepreneurship and leadership, research must first focus on the combinations or hierarchy of traits that are necessary, but perhaps not sufficient, to stimulate the two constructs. Factors that trigger a drive to create or take initiative within the individual in the context of a particular circumstance should be identified, and the situational factors that move the individual toward more traditional leader or classic entrepreneurial-type behaviors need to be understood.

This empirical study examined links between entrepreneurial personality traits and perception of new venture opportunity in a sample of 207 respondents. Four entrepreneurial personality traits were included to predict respondents℉ perception of new venture opportunity. They are (1) achievement motivation, (2) locus of control, (3) risk propensity, and (4) proactivity.The results of multiple regression analysis show that three of the four entrepreneurial personality traits‐locus of control, risk propensity, and proactivity‐related significantly to perception of new venture opportunity in expected directions. Among the three personality traits, proactivity was found to have the strongest influence over entrepreneurial perception. No significant relationship was found between achievement motivation and perception of new venture opportunity. Among six control variables, only work experience was found to influence perception of new venture opportunity. This study explored links between entrepreneurial personalities and cognition and its results suggest that a combination of trait and cognition approaches contributes to a better understanding of entrepreneurial decision-making process. Both theoretical and practical implications were discussed.

In 1971, Kilby likened research about the psychology of entrepreneurs to search for a “heffalump”, with no convincing descriptions resulting from the research. This paper surveys later research which compares entrepreneurs with other people, and concludes that more is now known about the psychology of entrepreneurs, but that entrepreneurs are not as different from other groups within the general population, managers included, as was once assumed.

Research on entrepreneurial behaviour has been largely descriptive in nature. Critics of the field have called for an interdisciplinary approach to build theory. A social learning theory framework is proposed for explanation and prediction of entrepreneurial development. Research questions are posed and a model developed to guide future enquiry.

Touristic enterprises can significantly contribute to the economic and social well‐being of a community. One practical way to increase the birth of touristic enterprises in a community is to increase the supply of indigenous tourism entrepreneurs. To achieve this quest, it is necessary to determine the touristic enterprise creation process. Once this is accomplished, a community may then develop appropriate policies to stimulate tourism entrepreneurship. This paper presents a conceptualization of the tourism entrepreneurial process including research and management implications.

Organizational researchers have long recognized the important role that top managers play within entrepreneurial firms (Ireland, Hitt and Sirmon 2003). Utilizing Covin and Slevin’s (1989) conceptual framework, the current study explores three key entrepreneurial characteristics of top managers and the impact these characteristics have on firm performance. Specifically, we argue that top managers with a high tolerance of risk, those who favor innovative activities and those who display a high degree of proactiveness will positively impact firm performance. In addition, this study examines the influence of top managers’ prestige, structural and expert power on the relationship between entrepreneurial orientation and firm performance. We conclude the study with a discussion of theoretical and practical implications of our findings and suggestions for future research in this area of study.

Relatively few comparative studies have examined how perceptions across cultures might converge or diverge regarding careers in general and new venture careers in particular. Our research addresses this gap by providing a comparative study of career perceptions among undergraduate business students in three countries with different levels of experience with capitalism: Ukraine, South Korea, and the United States. Results suggest both surprising differences and interesting similarities between undergraduate students in the three countries with regard to how they perceive characteristics associated with entrepreneurial careers. Findings are discussed in the context of distinct differences and commonalities across cultures and implications for future research provided.

Globalization, and more recently the dot‐com era, has increased worldwide interest in new business development. As a result, having an international perspective on the study of entrepreneurship has become more important for researcher and practitioner alike. One aspect of this enhanced interest is a worldwide interest in student entrepreneurs. It is no surprise that differences in attitudes towards entrepreneurship have been considered a major factor as to why some economies are more entrepreneurial and vibrant than others. By exploring US, Turkish, and Spanish business students’ attitudes, interests, and related country cultural influences towards entrepreneurship, this research builds upon and serves to extend the understanding of such issues.

Highlights Hong Kong’s many small but thriving businesses which provide most of the workforce (60 per cent) on the island. Investigates the effects of the SARS crisis and the economic turndown of 1997, following the handover to Chinese rule. Uses tables to show the local feeling on what is wrong and the possible solutions. Tries to show the various ways of an improvement in the fortunes of the young people via an educational bent.