Entrepreneurship plays an indispensable role in the economic development and poverty reduction of emerging economies like Vietnam. The rapid development of technologies during the Fourth Industrial Revolution (Industry 4.0) has a significant impact on business in every field, especially in the innovation-focused area of entrepreneurship. However, the topic of entrepreneurial activities with technology applications in Vietnam is under-researched. In addition, the body of literature regarding entrepreneurial finance tends to focus on advanced economies, while mostly neglecting the contextual differences (...) in developing nations. Therefore, this research contributes to these topics by investigating the main characteristics of a high potential market for entrepreneurs in Vietnam, which is the English language training market (ELTM). It also aims at indicating the impacts of technology on the entrepreneurial firms within this market, with an emphasis on financing sources. To answer the research questions, this study employs a qualitative analysis and conducts 12 in-depth, semi-structured interviews with entrepreneurs and researchers in the field. The key findings in our study highlight the main contributing factors to the growth of the market, both universally and context-specific for a developing nation like Vietnam. It also lists the leaders in each market segment and the industry’s potential profit margin. The results also show that most entrepreneurs in the ELTM utilized private sources of finance rather than external ones, such as bank loans. It again confirms the idea from previous works that even with the rapid development of the economic and technological landscape, entrepreneurial activities in general barely benefit from additional sources of funding. However, it also points out the distinct characteristics of the ELTM that may influence these financing issues; for example, English training services usually collect revenues from customers before delivering their classes. This is of advantage for entrepreneurs in this area and helps significantly reduce the financial barriers. These findings, which are among the first attempts to contribute to a better understanding of entrepreneurial opportunities in the Industry 4.0 in Vietnam, provide valuable insights for policymakers and entrepreneurs, as well as investors. (shrink)

Editorial Office MDPI St. Alban-Anlage 66 4052 Basel, Switzerland This is a reprint of articles from the Special Issue published online in the open access journal Journal of Risk and Financial Management (ISSN 1911-8074: SI Entrepreneurial Finance).

At the centenary of Frank H. Knight’s Risk, Uncertainty, and Profit (1921), we explore the continuing relevance of Knightian uncertainty to the theory and practice of entrepreneurship. There are three challenges facing such assessment. First, RUP is complex and difficult to interpret. The key but neglected element of RUP is that Knight’s account is not solely about risk and uncertainty as states of nature, but about how an agent’s beliefs about uncertain outcomes and confidence in those beliefs guide their choices. (...) Second, RUP is Knight’s only effort in this area. His subsequent career led elsewhere, so he did not engage with subsequent interpretations of this work. Third, much of the current literature emphasizes that decisions must be different under the two states of nature with a consequent misunderstanding of entrepreneurial agency. This paper addresses each challenge in sequence. First, we explicate Knight’s (1921) approach and explain why that approach is murky. Second, as a complement to Knight’s interpretation, we examine Frank P. Ramsey’s approach to subjective probabilities to help clarify Knight’s murky approach. What links Knight and Ramsey is a shared pragmatism about entrepreneurial agency under uncertainty that depends upon the beliefs about, and confidence in, their judgments of possible outcomes. This Knight-Ramsey approach does not require actor’s behaviors to be determined by the class of uncertain environment (whether risk, uncertainty, or ambiguity) they face. We focus on the response by the entrepreneur to the existence of uncertainty in all its forms. We argue that this reductive account provides a foundation to examine common problems in management, including managerial hubris, the interaction between entrepreneurs and venture capitalists, and the need for experimentation (such as prototyping and market research) in advance of new product and venture launches. Third, we critique current literature that favors epistemic purism about the ontology of risk and uncertainty and ignores Knight-Ramsey pragmatism in meeting uncertainty, such as using formal and informal institutions for uncertainty mitigation. Our account locates Frank Knight’s subtleties in entrepreneurial behavior firmly in the literature on entrepreneurial agency a century later. (shrink)

This research, aims to develop a conceptual framework to assess the entrepreneurial properties of the Vietnamese reform, known as Doi Moi, even before the kickoff of Doi Moi policy itself. The authors argue that unlike many other scholars’ assertion, economic crisis and harsh realities were neither necessary nor sufficient conditions for the reform to take place, but the entrepreneurial elements and undertaking were, at least for the case of Vietnam’s reform. Entrepreneurial process, on the one hand, sought (...) structural changes and kicked off innovation, and on the other hand, its induced outcome further invited changes and associated opportunities. The paper also concludes that an assessment of possibility for the next stage of Doi Moi should take into account the entrepreneurial factors of the economy and predict the emergence of new entrepreneurial facets in the next phase of economic development. (shrink)

This study attempts to fill in two research gaps in the extant literature concerning the ecosystem for social innovation in the context of emerging market economies such as India. The study first attempts to assess the potential of corporate social responsibility (CSR) in not-for-profit entities such as technology business incubators (TBIs) to stimulate social innovations in the prevalent ecosystems in emerging markets. Further, using a random-effects Tobit model, the study examines the characteristics of firms that spend higher percentages of CSR (...) expenditure on not-for-profit TBIs/societies/trusts in India. The study provides policy suggestions to create an entrepreneurial ecosystem for promoting social innovation in emerging markets such as India. (shrink)

Within Ajzen's Planned Behavior Theory framework, this article tests a model to estimate the predictors of entrepreneurial intention in academic scientists working in Chile. We adapted into Spanish the entrepreneurship intention questionnaire. We tested the entrepreneurship intention model on a sample of 1,027 scientists leading research projects funded by the Chilean Scientific and Technological Development Fund, the country's primary scientific research grant. The results show strong empirical support for the entrepreneurship intention model proposed while highlighting some critical issues specific (...) to entrepreneurial intention in scientists. In particular, we found an indirect effect of perceived subjective social support on entrepreneurial intention, which is mediated by entrepreneurial attitude and perceived behavioral control toward entrepreneurship. These results suggest that policies orientated toward promoting academic entrepreneurship should include developing a healthy social environment toward it, meaning that entrepreneurial intention is not only an individual but an organizational challenge. These policies should analyze the social norms guiding the scientists' reference groups to increase their effectiveness. (shrink)

The purpose of the study is to determine the impact of entrepreneurial initiative on the development of innovation activity of country enterprises. The theory of entrepreneurship by clarifying the essence of entrepreneurial initiative got further elaboration in the article. The methodical approach to the analysis and evaluation of the entrepreneurial initiative and its impact on the innovation activity of the enterprises, the results of which are the basis for further development of proposals to stimulate entrepreneurial initiative (...) and development of their innovation activity is suggested. The estimation of innovation activity of 1758 enterprises of Ukraine by calculating the integral indicator of innovation activity revealed its low level for innovation active enterprises. The method of one-dimensional linear regression has determined that an increase in the number of business structures per 10 thousand people of the country's population at a rate of 1.0 causes an increase in the indicator of innovation activity by 0.172. It is proved in the article that development of infrastructure of enterprenerial environment and creation of centers for entrepreneurship development act as an important mechanism of increasing innovation activity of enterprises of the country. (shrink)

This paper builds on theoretical developments that view entrepreneurship as emancipation, i.e., entrepreneurial activities as generators of change and pursuit of freedom from perceived constraints. Using a representative data set of 1095 SMEs owned by Indigenous entrepreneurs in Canada, the authors investigate how pursuit of this freedom affects the way entrepreneurs enact several aspects of their ventures and the performance outcomes achieved. Findings reveal how the initial motivations of entrepreneurs lead to distinct business practices, which in turn impact differentially (...) entrepreneurial outcomes. (shrink)

Although various scholars underscore the importance of innovating responsibly in view of today's societal challenges, less attention has been paid to the entrepreneurial skillset, that is, the range of individual skills and organizational capabilities, that innovation-based organizations mobilize to deliver new responsible products and services. This paper thus explores the relationships between the entrepreneurial skillsets of 16 Canadian and Brazilian for-profit and not-for-profit organizations producing Responsible Innovations in Health (RIH) and their degree of responsibility. Our mixed methods study (...) includes interviews with entrepreneurs (n = 23) and fieldnotes as well as quantitative results from the RIH Assessment Tool. Our findings identify four skillset orientations—Technical, Technical + Business, Social, and Social + Business—that not only reflect (co)founders' training and entrepreneurial motivations but also a proclivity toward the consolidation of either “Technical” or “Social” skills and capabilities. Such consolidation is made possible by recruiting high-level executives with diverse backgrounds or by tapping on external knowledge sources (e.g., boards of directors, incubators, or volunteers). As five enterprises had no formal business skills, patterns associated to their overall RIH score (ranging from 1 to 5) reveal intriguing results. Organizations with a Social + Business skillset have a slightly lower RIH score (4.1) than those with a Social skillet (4.4) and those with a Technical + Business skillset have a slightly higher score (3.5) than those with a Technical skillset (3.0). The presence of business skills thus appears to mediate the relationship between entrepreneurial skillsets and the degree of responsibility, which may be linked to the distinct roles of ordinary (“doing things right”) and dynamic capabilities (“doing the right things”). These exploratory findings have scholarly and practical implications. First, the tensions and synergies characterizing responsible value creation should be approached by examining the complementary skills and capabilities that need to be assembled and consolidated. Second, the eight cases with a Social + Business skillset clarify the unique capabilities needed to produce highly responsible health innovations. Third, entrepreneurs with a scientific or engineering background should recognize that a Technical skillset is not enough. Fourth, recognizing that “falling in love with the cause” of RIH is not sufficient, investors and boards of directors should adequately support responsible entrepreneurs towards the proper orchestration of skills and capabilities that can reconcile economic and social goals. (shrink)

The paper examines the role of organizational commercial slack (OCS) in mediating the relationship between entrepreneurial orientation (EO) and the effectiveness of knowledge transfer (KT) in universities. The paper identifies two types of commercial slack in the university setting: financial and promotional. Four research hypotheses are proposed. Pooled data, that is, a combination of a questionnaire survey of 110 Taiwanese universities with a data set of university KT effectiveness from the Ministry of Education, Taiwan, are collected to test the (...) aforementioned research hypotheses. The empirical results indicate that the EO of a university enables the university to provide appropriate OCS. Furthermore, the commercial slack of a university positively mediates the relationship between EO and KT effectiveness. The paper concludes that developing EO and OCS are crucial for improving the KT effectiveness of a university. Moreover, some managerial and policy implications for promoting EO and OCS in universities are suggested. (shrink)

The Entrepreneurial University plays a central role in entrepreneurial ecosystems and actively influences the development of entrepreneurial human capital, which is a critical asset for many economies. There is thus a requirement for the identification and strengthening of entrepreneurial competences, but no previous studies have included any analysis of these competences in the university context using an approach based on profiles. The present study fills this gap by investigating the existence of different entrepreneurial profiles among (...) students, based on their competences. It also defines key competences that are critical for differentiating between these profiles and improving entrepreneurial competence levels more generally. To meet these objectives, a field research campaign was developed. Data on 1104 students from various degrees and faculties were collected and analyzed using a quantitative methodological approach. The results reveal the existence of four entrepreneurial competence profiles, namelylow profile,top profile,social profile, andgrit profile. Among as many as 12 possible entrepreneurial competences, the most prominent can explain to a large extent the entrepreneurial profiles of students; these are networking and professional social skills, community engagement, perseverance of effort, and consistency of interest. The results provide evidence of the importance of social capital andgrit. In addition to their contribution to the theory in this area and the development of the Entrepreneurial University paradigm, the results are also useful for the design of training strategies aimed at strengthening the levels of competence of students, thereby providing universities with tools to foster the creation of entrepreneurial human capital. (shrink)

The lifeblood of every developed nation is entrepreneurs, people who set out to build their own destiny and achieve fame and fortune. Yet 30% of all new businesses in Australia fail before their first year is finished; in the US 44% of enterprises have closed their doors by the 3rd year. Why do some entrepreneurs succeed while others struggle to realise their dream? Phillip Di Bella began Di Bella Coffee in 2002 with $5000 in his pocket. Within 4 years the (...) company had made BRW's Top 100 Fastest Growing list, with Phillip named among the top 100 young rich. Phillip has turned his knowledge of coffee into a multi-million dollar business, yet his ambitions and dreams were no different than the thousands who dream of an empire and embark on their own journey every year to achieve success. This book is about the formula that drove his success; the same formula that drives the success of every great entrepreneur. The formula is simply called entrepreneurial intelligence. It is required reading for any entrepreneur who wants to survive the cut, and prosper. (shrink)

Business Ethics, the Environment & Responsibility, Volume 31, Issue 2, Page 419-437, April 2022.

Although scholars have long known that entrepreneurship involves the interaction of countless individuals beyond the entrepreneur, traditional performance metrics are limited to capturing the economic value that is created for shareholders. Multiple scholars have suggested that it should be possible to develop a more complete assessment that is able to simultaneously capture both the economic and non-economic consequences of entrepreneurship that exist for the broader network of firm stakeholders. The purpose of this paper is to provide a more nuanced understanding (...) of entrepreneurial performance by operationalizing the concept of stakeholder capabilities. Building on concepts from stakeholder theory and the human development and capability approach in welfare economics, we argue that the pursuit of entrepreneurial opportunities can either create or destroy value for multiple stakeholders, and that this value is best conceived in terms of increases and decreases in individual capabilities. Approaching entrepreneurial performance from a stakeholder capabilities lens has implications for how we view entrepreneurs’ impact on society, what we mean by the creation and destruction of “value,” and how we define failure and success in entrepreneurship. (shrink)

Machiavellians are often seen as manipulative people who contribute negatively to teams and ventures. However, recent work has shown that Machiavellians can also cooperate and act in pro-social ways in a team context. Thus, some aspects of Machiavellianism might be conducive for teams and team members’ intentions to start a business venture. Most studies in this area have failed to (a) assess the effect of Machiavellianism at the team level, (b) take into account the dimensional nature of Machiavellianism, and (c) (...) assess moderators of these effects. We propose that the combination of Machiavellianism and resilience in teams predict team entrepreneurial intentions (EI). Moreover, we propose that different team level dimensions of Machiavellianism (amoral manipulation, desire for status, desire for control, distrust of others) are differentially related to EI. More specifically, we expect at the team level that amoral manipulation and desire for status are positively related to changes in EI (as teams high on these dimensions feel that they can use unethical practices that give them an advantage in being successful), whereas desire for control and distrust of others should be negatively related to changes in EI (as entrepreneurial teams usually work in less structured situations and need to closely work together). Furthermore, all sub-dimensions of Machiavellianism should interact positively with team resilience as resilience acts as a buffer that protects teams from potential negative effects of Machiavellianism. In a multi-wave study among newly formed teams engaged in entrepreneurship projects, controlling for psychopathy and narcissism, we found partial support for our hypotheses. Results supported our expectations for the “amoral manipulation” and “desire for control” sub-dimensions, but not for the “desire for status” and the “distrust of others” sub-dimensions of Machiavellianism, with distrust of others showing unexpectedly opposite effects. This study contributes to the literature by looking at the dimensions of Machiavellianism at the level of entrepreneurial teams in conjunction with the more positive team characteristic, resilience. Our results indicate that the relationship between Machiavellianism and EI is more complex than previously hypothesized, as the sub-dimensions are sometimes positively and sometimes negatively related to entrepreneurial intentions and interact with team-level resilience. (shrink)

This article examines the emergence of a ‘financial subject’ in the transformation of the UK economy since 1979, using a critical realist approach to subjectivity that investigates underlying causal mechanisms and structures as they affect daily life. Financial restructuring, including widespread borrowing and increasing personal investment, has forged links between finance markets and personal finance, as workers’ wages are financialized. This engenders entrepreneurial subjectivity, with individuals interpellated to be self-reliant in managing possible risks. It argues that the process of (...) subjectivation, where individuals recognize themselves and their goals relative to financial markets, exemplifies the development of financialization itself, since it gives an insight into the successful reproduction of social relations of finance. It illustrates the instability related to wages and inequality, as some subjects have to contend with unpredictable employment prospects as potential future risks that complicate the practices of personal investment and borrowing, creating new hierarchies bound up with the financialization of the economy. (shrink)

Entrepreneurs generally lack the marketing capabilities necessary to bring their new product to market. To engage the resources required to do this, they must somehow place a value on the enterprise. However, all of the methods of valuation currently available are based on the use of historical or current revenues, and therefore are not applicable to an entrepreneurial enterprise with a first-time product. In Valuing an Entrepreneurial Enterprise, Audretsch and Link present a valuation method uniquely tailored to emerging (...) technology-based ventures that have no revenue history to lean on. Unlike many traditional methods, theirs does not take into account the track record of companies and products similar to that being valuated. Instead, it draws on economic theory to formulate a solution to the problem. The book develops conceptual ground, including trends in entrepreneurship, models of innovation, and the economics of standards and entrepreneurship policy. The authors review the traditional valuation methods and illustrate them numerically with case studies to show how the traditional approach produces an incorrect valuation. The core of the book presents the new methodology and demonstrates how it avoids the pitfalls of past approaches. The authors also show how public policy on technology and infrastructure changes valuations of start-up firms in areas such as stem-cell products and renewable fuels projects. Valuing an Entrepreneurial Enterprise will serve as a valuable resource for advanced students, economists, financial planners, and valuators interested in new valuation methods and the theory behind them, as well as those interested in entrepreneurship. (shrink)

Organizational corruption is a wide-spread negative aspect of economic activity, and a seemingly never-ending series of corruption scandals has been made public around the globe. Although research is performed in a broad variety of disciplines, ranging from psychology to management to law, a fully satisfactory explanation for the causes of organizational corruption has not been found. By looking at organizational factors as potential triggers for corruptive behavior, this study draws upon the concept of entrepreneurial orientation. Diverse studies have shown (...) that EO, as an antecedent to company performance, has a positive effect. Recent EO literature, however, indicates that EO has not only positive but also negative consequences. In this line of reasoning, this study builds upon principal agent theory and makes a first step in exploring the impact of EO on a negative aspect of business behavior, namely organizational corruption. We gathered survey data and publicly available data from 411 firms, inquiring for both acts of corruption from within the top management team over the last 3 years and the level of entrepreneurial orientation within the organization. Results show diverging effects along the individual dimensions of EO; they point to risk orientation as the dark side of EO, as it significantly increases the likelihood of corrupt behavior in companies. In contrast, innovation orientation, to a certain extent, counterbalances by reducing the likelihood of corrupt behavior. (shrink)

ABSTRACTEntrepreneurs should act as stewards of entrepreneurial rent. Entrepreneurial rent is the difference between the ex post value of a venture and its ex ante costs. It is the result of competition among buyers and sellers within the market process rather than the sole efforts of the entrepreneur. As a result, entrepreneurs should allocate entrepreneurial rent for the benefit of other market participants rather than consuming it for themselves. The moral obligation to steward entrepreneurial rent is (...) consistent with traditional bases of property rights and the norm of social welfare maximization, and it applies to corporations and their shareholders, as well as individual entrepreneurs. (shrink)

Barnett and Block claim that Bagus and Howden support indirectly the concept of market failure. In this paper, we show that maturity mismatching in an unhampered market may imply entrepreneurial error but cannot be considered a market failure. We demonstrate why fractional-reserve banking leads to business cycles even if there is no central bank and why maturity mismatching does not per se lead to clusters of errors in a free market. Finally, in contrast to the examples provided by Barnett (...) and Block, we assure that maturity mismatching does not imply the creation of two incompatible contracts due to the fungible nature of money. (shrink)

The purpose of this study is to explore the impact of entrepreneurial leadership on entrepreneurial performance in start-ups. Specifically, a moderated serial mediation model was developed to investigate the mediating role of tacit knowledge sharing and job embeddedness and the moderating effect of career growth opportunities. Data was collected from 376 start-up employees via an online survey platform. Using hierarchical multiple regression and Hayes' PROCESS Macro by SPSS 21.0, and structural equation modeling by AMOS 23.0, support was found (...) for both mediation and moderation effects. Results showed that entrepreneurial leadership significantly positively affects entrepreneurial performance by mediating with tacit knowledge sharing and job embeddedness. Moreover, career growth opportunities moderate the serial mediating effect of tacit knowledge sharing and job embeddedness between entrepreneurial leadership and entrepreneurial performance. This study provides theoretical guidance for entrepreneurial leadership to improve entrepreneurial performance. (shrink)

The aim of this article is to analyse entrepreneurship from an action research perspective. What is entrepreneurship about? Which are the fundamental capabilities and processes of entrepreneurship? To answer these questions the article includes a case study of a Danish entrepreneur and his networks. Finally, the article discusses how more long term action research methods could be integrated into the entrepreneurial processes and the possible impacts of such an implementation.

This paper introduces a theory of ownership that is rooted in Israel Kirzner’s theory of entrepreneurship – The Entrepreneurial Theory of Ownership. Its central idea is that natural resources are not available to us automatically as other approaches to justice implicitly assume. Before we can use a resource, we need to do preparatory work in the form of making an entrepreneurial judgement on it. This fact, as I argue, makes it possible to put private ownership as a natural (...) right on a firm normative ground and answer many traditional challenges to private property. (shrink)

Despite the growing interest in understanding the effects of income inequality on economic growth, the influence of entrepreneurship-related institutional constraints on the inequality–growth association remains less understood. Drawing on an institutional constraints perspective in the context of startup entry regulation and credit constraints, we propose that under increasing income inequality, ease of startup or access to credit from the financial sector is positively associated with per capita economic growth. In a sample of 92 countries, robust to alternate specifications, we find (...) support for our hypotheses. Our findings contribute to the debates about the income inequality–growth nexus and imply potential policy interventions in the form of lower startup regulations and domestic credit provision from the financial sector to enhance economic growth under increasing economic inequality. (shrink)

Having emerged as an important concept in the organizational field, entrepreneurial orientation has also become a key idea in the context of education. Indeed, entrepreneurial education is now one of the common objectives for education and training systems in the European Union. Despite its importance, however, there is a scarcity of valid and reliable measures for assessing entrepreneurial orientation in students. The present study aimed to address this by developing and examining the psychometric properties of the (...) class='Hi'>Entrepreneurial Orientation Scale (EOS). A second objective is to study the relationships between entrepreneurial orientation and gender, self-efficacy, and personal initiative. The sample comprised 411 vocational training students (50.36% male, 49.64% female). The final version of the instrument comprised 32 items assessing six dimensions: innovativeness, risk-taking, proactiveness, competitiveness, achievement orientation, and learning orientation. The EOS showed good psychometric properties and its dimensions demonstrated concurrent relationships with self-efficacy and personal initiative. The EOS may be used to measure entrepreneurial orientation in the educational context and to evaluate interventions designed to promote an entrepreneurial spirit in schools, colleges, and universities. (shrink)

With theoretical underpinnings in the theory of planned behavior, this research aims at investigating how women's entrepreneurial intentions might develop in Pakistan. The survey of 216 female students revealed that psychological capital plays an important role in shaping women's entrepreneurial commitment which in turn results in increased intentions to opt for entrepreneurship as a career. Additionally, it was observed that social support moderates the indirect relation in such a way that in the presence of high social support, the (...) association between psychological capital and intentions via commitment is further strengthened. Because women face comparatively more barriers in paid career, therefore it was necessary to study the mechanism and driver that can improve their entrepreneurial intentions, since they represent an untapped resource that might be utilized to improve the economic prospects of a country. The study bridges a significant knowledge gap in utilizing psychological capital to enhance female's entrepreneurial intentions, who are under constant pressure of juggling multiple roles at work and home. (shrink)

At the centenary of Frank H. Knight’s Risk, Uncertainty, and Profit, we explore the continuing relevance of Knightian uncertainty to the theory and practice of entrepreneurship. There are three challenges facing such assessment. First, RUP is complex and difficult to interpret. The key but neglected element of RUP is that Knight’s account is not solely about risk and uncertainty as states of nature, but about how an agent’s beliefs about uncertain outcomes and confidence in those beliefs guide their choices. Second, (...) RUP is Knight’s only effort in this area. His subsequent career led elsewhere, so he did not engage with subsequent interpretations of this work. Third, much of the current literature emphasizes that decisions must be different under the two states of nature with a consequent misunderstanding of entrepreneurial agency. This paper addresses each challenge in sequence. First, we explicate Knight’s approach and explain why that approach is murky. Second, as a complement to Knight’s interpretation, we examine Frank P. Ramsey’s approach to subjective probabilities to help clarify Knight’s murky approach. What links Knight and Ramsey is a shared pragmatism about entrepreneurial agency under uncertainty that depends upon the beliefs about, and confidence in, their judgments of possible outcomes. This Knight-Ramsey approach does not require actor’s behaviors to be determined by the class of uncertain environment they face. We focus on the response by the entrepreneur to the existence of uncertainty in all its forms. We argue that this reductive account provides a foundation to examine common problems in management, including managerial hubris, the interaction between entrepreneurs and venture capitalists, and the need for experimentation in advance of new product and venture launches. Third, we critique current literature that favors epistemic purism about the ontology of risk and uncertainty and ignores Knight-Ramsey pragmatism in meeting uncertainty, such as using formal and informal institutions for uncertainty mitigation. Our account locates Frank Knight’s subtleties in entrepreneurial behavior firmly in the literature on entrepreneurial agency a century later. (shrink)

Entrepreneurship success is the ultimate goal pursued by entrepreneurs, and entrepreneurial passion is also considered an indispensable and important element on the road to entrepreneurial success. However, the internal influence mechanism of entrepreneurial passion on entrepreneurial success is still insufficient in academic circles. In view of this, based on the theory of social information processing, this research analyses the internal mechanism of entrepreneurial passion through individual psychological capital on entrepreneurial success and the promotion of (...) external entrepreneurial policy support. Through a multi-time and multi-source questionnaire survey of 455 entrepreneurs in entrepreneurship parks and entrepreneurship centers in Wuhan, Guangdong, Shanghai, and other places, the research results show that entrepreneurial passion can increase individual psychological capital and positively affect entrepreneurial success; psychological capital mediates the relationship between individual entrepreneurial passion and entrepreneurial success. Entrepreneurship policy support at the environmental level can promote the effect of entrepreneurial passion on the accumulation of psychological capital, and promote the transformation of entrepreneurial passion into entrepreneurial success through psychological capital. The above research results are helpful to the accumulation of entrepreneurs’ psychological capital and provide a useful reference for entrepreneurial success. (shrink)

Based on extensive fieldwork, this book demonstrates how gender is an organizing principle of entrepreneurial ecosystems and makes a difference in how ecosystem resources are assembled and how they can be accessed. By bringing visibility to how ecosystem actors are heterogeneous across identities, interactions and experiences, the book highlights the role and complexity of individual, organizational, and institutional factors working in concert to create and maintain gendered inequities. Entrepreneurial Ecosystems provides research-driven insights around effective organizational practices and policies (...) aimed at remedying gendered and intersectional inequalities associated with entrepreneurship activities and economic growth. Proposing a typology of four ecosystem identities, it highlights how some might be more amenable and organized towards gender inclusion and change, while others may be much more difficult to change, reorganize and restructure. It offers scholars, students, practitioners and policymakers insights about gender in relation to analyzing entrepreneurial ecosystems and for fostering inclusive economic development policies. (shrink)

Many scholars have investigated the direct impact of entrepreneurial orientation on performance, but this direct association seems both spurious and ambiguous because many parameters may have an indirect influence on this relationship. The present study thus considers sustainable practices—environmental practices, social practices in the workplace, and social practices in the community —as three probable mediators in the relationship between EO and performance, which is considered in terms of its financial and non-financial dimensions. We seek to show to what extent (...) small- and medium-sized enterprises’ sustainable practices are useful assets, which are supported by EO, to improve performance. Using a structural equation modeling approach, data collected from 406 French SMEs were tested against the model. Our findings reveal that EO has a positive impact on the implementation of sustainable practices and that SPW partially mediate the link between EO and performance. Taken together, these findings suggest that EO plays a role in indirectly promoting performance by enhancing certain human resource management practices. (shrink)

Social entrepreneurship activity continues to surge tremendously in market and economic systems around the world. Yet, social entrepreneurship theory and understanding lag far behind its practice. For instance, the nature of the entrepreneurial discovery phenomenon, a critical area of inquiry in general entrepreneurship theory, receives no attention in the specific context of social entrepreneurship. To address the gap, we conceptualize social entrepreneurial discovery based on an extension of corporate social responsibility into social entrepreneurship contexts. We develop a model (...) that emphasizes mobilization and timing as underpinnings of social entrepreneurial discovery and offer distinct conceptual aspects and theoretic propositions instrumental to future social entrepreneurship research. (shrink)

The paper highlights entrepreneurial skills of Indian farmers, informal channels of communications in the socio-cultural setting of the village, tacit knowledge and factors responsible for the adoption of floriculture in open field conditions. It illustrates that the diffusion of new technology in a farming community is dependent on culture-based communication and the tacit knowledge-driven entrepreneurial spirit of a few.

The 21st century imposed many challenges on mankind, among them there is a very important problem of entrepreneurial leadership transformation. Entrepreneurship gradual modification under the pressure of factors of innovation, informatization of the environment and the need for socialization of the relations between businessmen and society has led to the need of new understanding of leadership positions. The purpose of this scientific research is to substantiate the style of entrepreneurial leadership, which will become dominant in the 21st century. (...) Analyzing and systematizing the scientific works of many modern scholars by the methods of theoretical synthesis, analysis and synthesis, we have solved the problems of entrepreneurial leadership transformation. The use of the historical and logical method has revealed the relationship between the entrepreneurial leadership development and entrepreneurial types. The study found that the global business environment requires new leaders, whose key competences will meet the needs of society, educational space, ethical requirements, etc. Studying the similarities and differences of various leadership styles has become the basis for the allocation of a new style – the leadership of conscious influence, the main characteristics of which are given in this research. In order to achieve the goals, set by the leader-entrepreneur, it is proposed to systematize the leadership opportunities on tactical and strategic, the factors of influence on their realization in the future are generalized. By the method of scientific and theoretical prediction the portrait of an entrepreneur in a global perspective has been formed. Prospects for further research in this area are the development of a methodology for evaluating the effectiveness of business leaders' actions and systematization of ways to increase their effectiveness in the future. (shrink)

In this paper I offer a brief historical perspective on the social teaching of the Church as it relates to the entrepreneur. I then offer a preliminary analysis of the vocation of the entrepreneur and show how the Trinitarian doctrines of the Father's providence, the Son's kenotic self-sacrifice and the Spirit's creativity in Rahner's pastoral writings relate to the vocation of the entrepreneur. Although he never constructed a specific and developed theology regarding the calling of the entrepreneur, I believe Rahner's (...) exploration of these Trinitarian themes can serve to illuminate the nature of the entrepreneurial vocation and provide entrepreneurs with the basis for a spirituality that will provide both comfort and challenge as they pursue their distinct calling. (shrink)

Women entrepreneurs innovate, initiate, engage, and run business enterprises to contribute the domestic development. Women entrepreneurs think and start taking risks of operating enterprises and combine various factors involved in production to deal with the uncertain business environment. Entrepreneurship and technological innovation play a crucial role in developing the economy by creating job opportunities, improving skills, and executing new ideas. It has a significant impact on the income of the household. The study focused on investigating the role of women’s entrepreneurship (...) and innovation technologies in contributing to household income in the challenging situation of the pandemic COVID-19. The paper emphasized identifying the determinants of female entrepreneurial contribution toward household income. This study collected data from selected rural and urban areas of district Faisalabad through a self-administered questionnaire. Investigators interviewed female entrepreneurs and chose them through the snowball sampling technique from a population of purposively selected female-run businesses. Interviews were conducted with women entrepreneurs to gather relevant information for the survey investigation at their workplaces and home. The effects of various factors, including age, education, family size, income from other sources, time allocated to entrepreneurial activity, firm size, and location were estimated empirically using an ordered logit model. The study findings exhibited a positive and significant role of respondents’ education, family size, time allocated to entrepreneurial activities, and firm size. The survey outcomes also indicated that the contribution of entrepreneurial income to household income in the rural areas is significantly higher than that in urban areas. This study signifies that regulations against gender discrimination in public and private institutions are helpful. Besides, encouraging an environment for entrepreneurial culture among women in the country would increase family income. The study’s findings and policy implications directly link to Sustainable Development Goal 5 of Gender Equality and SDG 8 related to decent work and economic growth. (shrink)

The mechanism of how the COVID-19 global pandemic has affected the entrepreneurial intentions of college students remains unknown. To investigate the impact of the entrepreneurial environment on entrepreneurial self-efficacy and entrepreneurial intentions in the post-pandemic era, 913 college students were invited to complete a questionnaire. The data were analyzed with structural equation models. The conclusions revealed by the questionnaire are as followed: college students have retained some entrepreneurial intention in the post-pandemic era; the factors influencing (...) the entrepreneurial intention include sex, family entrepreneurial history, major, and education background; and entrepreneurial self-efficacy can play a major role to mediate the impact caused by the post-pandemic entrepreneurial environment on entrepreneurial intentions. The research conclusions provide important insights to improve college students’ entrepreneurial intentions in the post-pandemic environment. (shrink)

Recent research illustrates substantial gaps between entrepreneurial intentions and behavior. This is a challenge for entrepreneurship promotion interventions that have primarily focused on stimulating entrepreneurial intentions. However, extant literature suggests that implementation intentions enhance the likelihood of acting congruently to the behavioral intention. Furthermore, theory also suggests the condition effects of situations and the perceived control over them. We therefore hypothesized that implementation intentions mediate the relationship between entrepreneurial intention and action, while perceived family support moderates the (...) movement from implementation intention to entrepreneurial action. Using two-wave survey data from a sample of students at an African university, we measured two psychological attributes as important precursors of entrepreneurship and entrepreneurial intentions present before undertaking an innovations and entrepreneurship course. Implementation intentions regarding entrepreneurship, entrepreneurial actions, and perceived parental support for entrepreneurial activities were also measured 2 weeks after completion of the course. Our results demonstrate support for the proposed moderated double mediation model in which the effects of the two psychological attributes on entrepreneurial actions are explained via entrepreneurial intentions and implementation intentions. We further find moderation effects of perceived family support indicating that implementation intentions more likely predicted entrepreneurial actions in cases of higher family support. (shrink)

Universities worldwide are facing enormous strains as a result of increased external expectations where global visibility should be mixed with local and regional utility. In debates on the future of higher education, becoming an entrepreneurial university has been highlighted as a novel – although perhaps a more hybrid – way to deal with this challenge. However, while the label entrepreneurial points to an image of the university as a dynamic free agent shaped in the interplay between dynamic environments (...) and internal flexibility, the current article takes a more critical view on the factors conditioning universities with the ambitions of becoming more entrepreneurial – particularly those of more recent age and less academic standing. For these institutions it is suggested that the university ideal of being entrepreneurial may lead to a situation of strategic inertia characterized by an institutionalized ‘lock-in’ with few alternative development paths. (shrink)