Thomas Niemand, Martin Angerer, Ferdinand Thies, Sascha Kraus and René Hebenstreit
The purpose of this paper is to identify and disentangle the home bias in equity crowdfunding to better understand irrational decision making of investors.
Abstract
Purpose
The purpose of this paper is to identify and disentangle the home bias in equity crowdfunding to better understand irrational decision making of investors.
Design/methodology/approach
A first choice-based conjoint (CBC) experiment with 217 participants was conducted in central Europe in order to single out different factors contributing to an apparent home bias of capital providers.
Findings
The authors find that investors show an avoidance of foreign currency, while payment methods seem to have no considerable influence on the decision making. Furthermore, participants significantly decided against national legislation in favor for EU legislation.
Research limitations/implications
This study predominantly helps to gain deeper insights into influencing factors in crowdfunding markets with a special concern on a cross-border context. For capital-seeking companies, the home bias of potential investor has to be taken into account, when designing a crowdfunding campaign. For legislators, the apparent influence of the legal framework should serve as a wake-up call to consolidate the regulation of crowdfunding in the EU.
Originality/value
This is the first CBC experiment application in a cross-border crowdfunding context. It provides deeper understanding of the importance of geographical proximity between crowdfunding projects and investors and calls for further research to examine how such an effect could be diminished.
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Sascha Kraus, Thomas Niemand, Stephanie Scott, Kaisu Puumalainen and Raphael Oberreiner
This article addresses the need for further conceptual development of the factors that influence the development of the entrepreneurial mindset. It focuses on finding a link…
Abstract
Purpose
This article addresses the need for further conceptual development of the factors that influence the development of the entrepreneurial mindset. It focuses on finding a link between the classic mental models of entrepreneurship and those that are employed during video game play to explore if similarities exist.
Design/methodology/approach
Using theories of entrepreneurship and opportunity recognition, the study examines a sample of 217 video gamers.
Findings
The results of this study suggest that an individual who exhibits a high level of entrepreneurial orientation (EO) has an enhanced opportunity recognition capability when the intensity of playing video games is also high. Various genres of games were controlled for; however, it was found that shooting games have the highest effect on the emergence of opportunity recognition.
Originality/value
Thus, the study reveals that some game activities can be linked to entrepreneurial cognitions. This has implications for the entrepreneurial intent literature as it reveals certain actions can be linked with entrepreneurial information processing. These findings are useful for game designers and managers as well.
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Sascha Kraus, Fabian Meier and Thomas Niemand
The purpose of this paper is to evaluate the emerging field of experimental research on entrepreneurship to better understand its development and potential.
Abstract
Purpose
The purpose of this paper is to evaluate the emerging field of experimental research on entrepreneurship to better understand its development and potential.
Design/methodology/approach
A systematic, evidence-based literature review was applied, resulting in a sample of 47 articles having used experiments in entrepreneurship research so far. The papers are analyzed according to their topic, methods, and research design, revealing insight into their limitations and prospective contributions.
Findings
The paper discusses the potential and disadvantages of experimental methods while arguing for experiments as the method of choice for answering causality questions. This study finds a persistent increase in experimental entrepreneurship research since its introduction in 1990.
Research limitations/implications
The study provides research from the field of entrepreneurship with future directions, with potential research areas and an orientation for those interested in conducting experiments.
Originality/value
Experiments are employed in a variety of research areas and have become more and more popular in the field of entrepreneurship. No study has analyzed the experimental studies in entrepreneurship. This paper contributes by providing an overview of the field, reflecting and discussing the outcomes while characterizing the methods employed.
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Sascha Kraus, Thomas Niemand, Jantje Halberstadt, Eleanor Shaw and Pasi Syrjä
Despite growing scholarly interest in social entrepreneurs and the social enterprises (SE) they create, few studies have examined the hybridity of SE including, surprisingly…
Abstract
Purpose
Despite growing scholarly interest in social entrepreneurs and the social enterprises (SE) they create, few studies have examined the hybridity of SE including, surprisingly, whether they adopt an entrepreneurial orientation (EO). One explanation for this may be the continuing lack of an appropriate scale measuring social entrepreneurship orientation (SEO). The purpose of this paper is to address this research gap by proposing an initial SEO scale based on input from scholars in the fields of entrepreneurship and social entrepreneurship.
Design/methodology/approach
This study employed mixed methods and a two stage design. In stage 1, a Delphi study with 18 researchers with expertise of investigating entrepreneurship and social entrepreneurship was used to generate constructs combining aspects of both social and EOs. In stage 2, the authors assessed the face validity of the derived items from the Delphi study by conducting a survey with 82 such experts.
Findings
This paper provides fresh empirical insights into how SEO can be measured by proposing, for the first time, a 12 item scale with four dimensions for the first time.
Research limitations/implications
The authors recommend that future studies employ quantitative methods, particularly with firms exhibiting differing levels of the “socialness” dimension which the authors propose and that such studies involve a variety of research informants. Statistical analysis of data collected across large sample sizes will help evaluate the reliability and validity of the scale which the authors propose.
Practical implications
This paper includes implications for future research based on the proposed SEO measurement scale.
Originality/value
This paper develops the first SEO scale based on empirical data collected from experts in the fields of entrepreneurship and social entrepreneurship.
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Augusto Bargoni, Alberto Ferraris, Šárka Vilamová and Wan Mohd Hirwani Wan Hussain
The purpose of this paper is to provide an integrative picture of the state of the art of the literature on digitalisation of small and medium-sized enterprises (SMEs) as an…
Abstract
Purpose
The purpose of this paper is to provide an integrative picture of the state of the art of the literature on digitalisation of small and medium-sized enterprises (SMEs) as an enabler for their internationalisation process and as a comprehensive view of the specific domains impacted by digital technologies as well as their repercussions on the international outreach.
Design/methodology/approach
A systematic review which leverages a descriptive analysis of extant literature and an axial coding technique has been conducted to shed light on the current knowledge and to identify primary research areas and future research lines.
Findings
The research indicates that digitalisation impacts the internationalisation of SMEs in three specific domains: (1) internationalisation through the adoption of information and communication technologies (ICT) technologies and e-commerce platforms; (2) international expansion through the digitalisation of value chain activities and (3) international outreach through knowledge acquisition on digital platforms.
Originality/value
The value of this study is threefold. First, the authors attempt to systematically review the literature on SMEs digitalisation and internationalisation and provide a holistic perspective on the intertwining of these two research streams. Second, the authors propose a novel conceptualisation on the dimensions of SMEs digitalisation as enablers to internationalisation. Third, the authors put forward promising future lines of research.
Highlights
Digitalisation represents a pivotal strategy that allows companies to build new strategic capabilities and is a propeller for SMEs internationalisation.
Through e-commerce, SMEs could compete at the same level of multinational companies but enduring lower costs of expansion.
Digital platforms allow SMEs to enhance the learning processes about international markets through an immediate access to relevant information.
Digital entrepreneurship has enabled SMEs to develop new configurations of value chain activities, evolving their business model or reaching new markets.
SMEs are changing the “business as usual” paradigm offering digital tools to build modular architectures that are scalable and agile in their evolution ability.
Digitalisation represents a pivotal strategy that allows companies to build new strategic capabilities and is a propeller for SMEs internationalisation.
Through e-commerce, SMEs could compete at the same level of multinational companies but enduring lower costs of expansion.
Digital platforms allow SMEs to enhance the learning processes about international markets through an immediate access to relevant information.
Digital entrepreneurship has enabled SMEs to develop new configurations of value chain activities, evolving their business model or reaching new markets.
SMEs are changing the “business as usual” paradigm offering digital tools to build modular architectures that are scalable and agile in their evolution ability.
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A collection of essays by a social economist seeking to balanceeconomics as a science of means with the values deemed necessary toman′s finding the good life and society enduring…
Abstract
A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.
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Paloma Escamilla-Fajardo, Vanessa Ratten and Juan Núñez-Pomar
Sports clubs are one of the most important elements in the sports systems of today’s societies. In the field of sport, a sports club aims, among other things, to make the sport…
Abstract
Sports clubs are one of the most important elements in the sports systems of today’s societies. In the field of sport, a sports club aims, among other things, to make the sport more affordable and accessible to all, showing the organizational characteristics of companies, but with a much broader social mission. The aim of this chapter is to characterise sports clubs as potentially favorable environments for sports entrepreneurship, making questions about their nature and purposes. Aspects such as the hybridization of organizations, the progressive professionalisation of their members, the use of the entrepreneurial spirit as an instrument to facilitate the achievement of the organisation’s objectives or the need to seek alternative sources of funding to traditional public aid are discussed in the context of increasingly hostile and competitive environments, where social organizations must seek out resources in a similar way to companies.
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Syed Asif Mehdi and Lata Bajpai Singh
Entrepreneurial orientation (EO) and entrepreneurial intentions (EI) both are prominent factors in the entrepreneurship domain to predict entrepreneurial behavior. Despite the…
Abstract
Entrepreneurial orientation (EO) and entrepreneurial intentions (EI) both are prominent factors in the entrepreneurship domain to predict entrepreneurial behavior. Despite the fact, association between the EO sub-aspects and EI, as well as the indirect influence of the personality characteristic (Openness), has not been extensively investigated. The focus of this research study is to examine the association between sub-dimensions of EO, proactiveness, risk-taking, and innovativeness, and EI incorporating personality trait openness to experience (OTE) as mediating variable. Data is gathered from 164 professional course students. For the data analysis purpose, mediation analysis, multiple regression and confirmatory factor analysis (CFA) have been performed. Findings imply that all the sub-aspects of EO are significantly correlated with EI and personality trait OTE acted as mediating construct in link amidst EO and EI. Practical and theoretical contribution have been discussed in this study.
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Songsong Cheng, Qunpeng Fan and Abd Alwahed Dagestani
In the digital era, the competitiveness of an enterprise is highly dependent on the success of its digital transformation. The effectiveness of such transformation, in turn…
Abstract
Purpose
In the digital era, the competitiveness of an enterprise is highly dependent on the success of its digital transformation. The effectiveness of such transformation, in turn, relies heavily on the organization's strategic vision and resource fitness. Accordingly, the authors aim to explore the impact of strategic vision on digitalization (SVD) on the digital transformation of small- and medium-sized enterprises (SMEs), drawing on the perspective of resource orchestration theory.
Design/methodology/approach
Based on first-hand interview data from 347 Chinese SMEs, the research model was tested empirically by both Structural Equation Modeling and Fuzzy Set Qualitative Comparative Analysis (fsQCA).
Findings
The study results supported that the positive effect of SVD on digital transformation, and the mediating effect of resource orchestration (resource structuring, resource bundling and resource leveraging) accounts for the relationship between SVD and digital transformation. Further, the fsQCA showed that neither SVD nor resource orchestration alone constitutes a necessary condition for high digital transformation in SMEs, and that SVD and resource orchestration elements constitute three configuration paths that drive SMEs to achieve high-level digital transformation.
Originality/value
To the authors knowledge, this is the first study of its kind to theorize and empirically examine how SVD affects SMEs digital transformation. In addition, the authors have highlighted the importance of resource orchestration in forging a link between SVD and digital transformation. The research contributes to the resource orchestration theory and digitalization literature and provides guidelines on how SMEs can realize digital transformation.