FRONTIERS

OF

ENTREPRENEURSHIP

RESEARCH

2013

PROCEEDINGS OF THE THIRTY-THIRD ANNUAL ENTREPRENEURSHIP RESEARCH CONFERENCE

Arthur M. Blank Center for Entrepreneurship Babson College, Babson Park, Massachusetts 02457-0310 USA

Co-sponsored by EMLYON Business School

Ecully, France

Edited by Andrew Zacharakis

Babson College

Sponsored by

Jonathan Arthurs Oregon State University

Dirk De Clercq Brock University

Sharon Matusik University of Colorado at Boulder

Hans Bruining RSM Erasmus University

Dimo Dimov University of Bath

Minet Schindehutte Syracuse University

Candida Brush Babson College

Linda Edelman Bentley University

Jeffrey Sohl University of New Hampshire

Carry Bruton Texas Christian University

Alain Fayolle EMLYON Business School

Roger Sarheim NTNU

© Babson College 2013

xvii

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

DETAILED TABLE OF CONTENTS

Acknowledgements v Summary Table of Contents xv Detailed Table of Contents xvii

BEST PAPER AWARDS NATIONAL FEDERATION OF INDEPENDENT BUSINESS (NFIB) AWARD FOR EXCELLENCE IN RESEARCH ON THE GENERAL TOPIC OF ENTREPRENEURSHIP

Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework James C. Hayton, Gabriella Cacciotti, Andres Giazitzoglu, ]. Robert Mitchell and Chris Ainge.. .225

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

Imprinting or Institutionalization? Examining How Social Capital is Transferred during Founder-CEO Successions BretR. Fund 341

THE G. DALE MEYER AWARD FOR THE MOST RELEVANT RESEARCH IN SOCIAL ENTREPRENEURSHIP

Microfinance Institutions as Social Entrepreneurs: When do They Fulfill a Social Mission? Mariarosa Scarlata, Jonathan Kimmitt and Dimo Dimov. 535

THE JOURNAL OF SMALL BUSINESS MANAGEMENT (JSBM) AWARD FOR EXCELLENCE IN RESEARCH ON THE TOPIC OF PUBLIC POLICY

Is Microcredit a Blessing for the Poor? A Meta-analysis Myrto Chliova, Jan Brinckmann and Nina Rosenbusch 550

xviii FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

I. ANGEL FINANCING

Entrepreneurs' Character and Competence: How Angel Investors Form Initial Impressions of Trustworthiness Harry J. Sapienza, M. Audrey Korsgaard, Akbar Zaheer and Richard Sudek 1

SUMMARIES

Liftoff: When Strong Growth is Predicted by Angels and Fuelled by Professional Venture Funds Christophe Bonnet and Peter Wirtz 15

Lost in Transmission: The Effect of Received Signals on Angel Support for Entrepreneurial Ventures Candida G. Brush and Linda F. Edelman 16

Business Angels' Approaches to Behavioral Uncertainty: The Role of Confidence and Trust Matthias Fink, Andrea Moro, Hans Landström, and Sofia Avdeitchikova 17

The Entrepreneur-Business Angel Investor Relationship: How does it Influenae Initial and Follow-On Investment Decisions and Investment Outcomes? Geoff Gregson, Richard T. Harrison and James Carr 18

Trust at First Sight? The Impact of Entrepreneurs' Pitch Presentations on Business Angels' Investment Decisions in France and Germany Miruna Radu Lefebvre, Vincent Lefebvre and Thierry Delecolle 19

INTERACTIVE PAPERS

Relationship Conflict Asymmetry between Angel Investors and Entrepreneurs: Exploring Antecedents and the Impact of Dyad Position Veroniek Collewaert, M. Audrey Korsgaard and Tony L. Simons 20

II. VENTURE CAPITAL

Investment Strategies of Cross-Border Venture Capital Investors David Devigne and Sophie Manigart 21

Private Equity Fund Performance Signals and the Likelihood of Follow-On Fundraising Tom Vanacker, Mirjam Knockaert, and Sophie Manigart 36

The Effect of Uncertainty on Venture Capitalists' Investment Trajectories in the Clean Energy Sector Anu Wadhwa, Xin Yao and Antoaneta Petkova 50

SUMMARIES

Cross Border Investments, Capital Market Development, and Venture Capital Exits in Europe Fabio Bertoni and Alexander Groh 65

DETAILED TABLE OF CONTENTS m

Demystifying the VC Business Model Maximilian Schmidt and Reiner Braun 66

The Best of Both Worlds: The Berichts of Specialized-Brokered and Diverse-Closed Syndication Networks for New Venture Success Anne ter Wal, Oliver Alexy, Jörn Block and Philipp Sandner 67

Public Funds as Venture Capital in Transitional Economies: Examining the Effectiveness of the Government Guiding Fund Policy in China Wei Yang 68

INTERACTIVE PAPERS

Contingent Round Financing in Venture Capital Will Drover and William McKinley. 69

Adjusting Attention under Time Pressure and Strategie Change: The Moderating Role of Strategie Alliances Violetta Gerasymenko 70

Different Sources of Venture Capital and their Investment Management Practices Sarah Park and Joseph A. LiPuma 71

III. FINANCING

Thinking It or Feeling It? The Dual Routes of Entrepreneurial Passion Chaim Letwin, Cameron Ford and Michael P. Ciuchta 72

SUMMARIES

Crowdfunding or Herdfunding? An Examination of Social Influence in Venture Investment Decisions Michael P. Ciuchta, Chaim Letwin and Regan Stevenson 87

Entrepreneurial Firms and Signaling for Creditworthiness: A Bayesian Modeling Approach DevK. Dutta, Tevfik Aktekin and Jeffrey E. Sohl. 88

The Influence of Social Capital on Venture Capital Funding of Women-Led Business es Joy Godesiabois and Larry Plummer 89

Affect In the Ask: Emotion as a Legitimating Mechanism in Initial Public Offerings Nathan S. Greidanus and Mahdi Akhgari 90

Crowdfunding and Social Network Theory: An Empirical Investigation Elissa Grossman and Robbie Nakats 91

Small Business Lending Düring the Financial Crisis: The Impact on Businesses in Urban Minority Communities Alicia Robb and Timothy Bates 92

Inside the Black Box of Outcome Additionality: Effects of Early-Stage Subsidies on Resource Accumulation and Firm Performance Anna Söderblom and Mikael Samuelsson 93

n FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

The Relational View and Corporate Venture Capital Investments: An Exploratory Partial Least Squares Analysis Christiana Weber, Boris Bauke and Virgil Raibulet 94

INTERACTIVE PAPERS

Do New Ventures Really Use Proceeds as Intended? Proceeds, Lock-Up Expiration, and Firm Innovation Hyunju Ahn and Daeil Nam 95

Time To Exit? An Examination of the Internal and Extemal Factors Driving Founder Exit Alexander McKelvie, Dawn DeTienne and John Torrens 96

IV. THE ENTREPRENEUR AND CHARACTERISTICS

Self-Employment or Employment after Exit: The Effect of an Entrepreneurs Age and Gender Massimo Bau', Francesco Chirico, and Shaker Zahra 97

How do Nascent Entrepreneurs Use Imagination in the Venture Creation Process? A Weekly Diary Study Arjan J. Frederiks, Michel L. Ehrenhard andAard J. Groen 112

The Influence of Organizational Culture and Climate on Entrepreneurial Intentions among Research Scientists Annelore Huyghe, Mirjam Knockaert and Maw Der Foo 126

What is the Appropriate Dependent Variable in Effectuation Research? Alexander McKelvie, Dawn R. DeTienne and Gaylen N. Chandler 141

The Moderating Role of Volitional Conditions and Trait Self-Control on the Entrepreneurial Intention-Action Relationship Marco van Gelderen, Teemu Kautonen and Matthias Fink 156

SUMMARIES

The Dark Triad: Narcissism, Psychopathy, and Machiavellianism as Predictors of Entrepreneurial Entry Reith M. Hmieleski and Daniel A. Lerner 171

Weathering the Storms: Identifying Attributes of Entrepreneurs' Resilience Using Repertory Grid Technique Stephanie Hussels, Oksana Koryak and Patrick Reinmoeller 172

Entrepreneurial Passion and Its Effect on Firm-Level Innovation Michael Keller 173

Entrepreneurial Traits, Entrepreneurial Orientation, and Innovation in the Performance of Owner-Manager Led Firms: A Meta-analysis Michael Koenig, Christopher Schlaegel and Marjaana Gunkel 174

The Entrepreneur's Post-Investment Perspective: Antecedents of Entrepreneur-Investor Trust Jan Middelhoff and Malte Brettel. 175

DETAILED TABLE OF CONTENTS xxi

Business Creation under Adverse Conditions: A Global Study of the Importance of Entrepreneurial Resilience Maija Renko and Amanda Bullough 176

Do Imprints Last Forever? Long-Run Effects of Founders' Human Capital on Firm Growth Josh Siepel, Marc Cowling, Gordon Murray and Paul Nightingale 177

Entrepreneurial Learning, Repeat Entrepreneurs and Business Ownership Success and Failure Experience Paul Westhead, Paul Robson and Mike Wright 178

Founding Team Performance: The Interplay of Interpersonal Feeling and Team Diversity QianYe 179

INTERACTIVE PAPERS

Identity Work and the Process of Constructing Entrepreneurial Identity Richard T. Harrison and Ciaire M. Leitch 180

Young Nascent Entrepreneurs and Impulsivity Daniel V. Holland and Tyson S. Barrett. 181

The Relationship between Small and Large Firm Effect and Entrepreneurial Spawning: A Meta-analytical Review Shanshan Qian, Tae Jun Bae and Chao Miao 182

Role Blurring, Ethnic Background and Work-Family Conflict: A Look at How Entrepreneurs Use Permeable Boundaries between Work and Family Lois M. Shelton, Sharon M. Danes and Ramona Zachary 183

Role Restructuring to Achieve Work-Family Balance: An Empirical Examination of Male and Female Entrepreneurs in the French Biotechnology Industry Lois M. Shelton and Severine Le Loarne ~ Lemaire 184

The Best of Both Worlds: Combining Causation and Effectuation Katrin M. Smolka, Ingrid Verheul and Katrin Burmeister-Lamp 185

Performance Effects of Human Capital: Disentangling the Effect of Experiences and Competencies among Nascent and Young Entrepreneurs Michael Stuetzer, Martin Obschonka and Maria Kaya 186

V. ENTREPRENEURIAL COGNITION

To Leave or To Stay? The Decision Context, Self-Image and Owner-Managers' Persistence Decisions Fei Zhu and Stewart Thornhill 187

SUMMARIES

Cognitive Versatility and Opportun!ty Identification: The Role of Experience, Intuition and Analysis Leonie Baldacchino, Deniz Ucbasaran, Andy Lockett and Laure Cabantous 202

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

Limited Access to Capital, Start-Ups, and the Moderating Effect of an Entrepreneurship Training: Integrating Economic and Psycho!ogical Theories in the Context of New Venture Creation Kim M. Bischoff, Michael M. Gielnik, Michael Frese and Thorsten Dlugosch 203

Entrepreneurial Feedback Interpretation and Goal Adjustment Daniela P. Blettner, Jon C. Carr, Isabell M. Welpe and Marius T. H. Meeus 204

Desirability and Feasibility in Internationalization Intentions: The Impact of Psychological Distance Daniela Bolzani, Riccardo Fini and Gian Luca Marzocchi 205

Flanning Versus Döing: An Empirical Research on Cues That Matter For Financial Commitments and Venture Progress Jan Brinckmann and SungMin Kim 206

I Started a Business and Now I'm Stressed! Global Life Satisfaction as a Coping Resource Rebecca J. Franklin 207

Pre-Decisional Aspects of Entrepreneurial Behavior: How Feedback Influences Intentions and Its Antecedents Patrick Höflinger and Rainer Lauterbach 208

Owning for Love: A Study of Entrepreneurial Passion, Core-Self Evaluation and Psychological Ownership of Venture Tori Yu-wen Huang and Gordon K. Adomdza 209

A Challenge to Master or a Test to Avoid? How Goal Orientation and Expertise Influence Attitüde after Firm Failure Anna Jenkins and Melissa Cardon 210

Calibrating Team Confidence: The Effect of Individual Hubris on Founding Team Decision-Making Douglas M. Mahony and Jill Brown 211

Howards Neuroentrepreneurship? Early Evidence from a Neuroscience Study Pablo Martin de Holan, Elena Ortiz-Terän, Agusttn Turrero and Tomas OrtizAlonso 212

Entrepreneurial Inception: The Role of Imprinting in Entrepreneurial Action Blake D. Mathias, David W. Williams and Adam R. Smith 213

Perspective Taking and Founder Equity Splits: An Experimental Study of Intersubjective Interactions Anusha Ramesh and Saras Sarasvathy 214

Input-Output Knowledge Theory: Potential and Application as a Theory of Entrepreneurial Cognition Elaine C. Rideout 215

Living Forever: Entrepreneurial Overconfidence and Subjective Life Expectancy Cornelius A. Rietveld, Patrick J.F. Groenen, Philipp D. Koellinger, Matthijs J.H.M. van der Loos and A. Roy Thurik 216

DETAILED TABLE OF CONTENTS xxiii

The Impact of Cognition on New Value Creation within the Institutional Theory Perspective Senay Sabah-Kiyan, Akin Kocak and Alper Ozer 217

Ability vs. Opportunity Outcomes: What Type of Entrepreneurial Confidence Posters Venture Creation? Laurent Vilanova and Ivana Vitanova 218

Entrepreneurial Optimism in Developing Economies: A Source of Unrealistic Bias or a Potential Benefit? Matthew S. Wood, Steven Bradley and Kendali Artz. 219

INTERACTIVE PAPERS

Overcoming Path-Dependency with Entrepreneurial Self-Efficacy Ronny Baierl, Dietmar Grichnik and Andreas Herrmann 220

Opportunity Development and High-Tech Venture Outcomes MatthewR. Marveland G.T.Lumpkin 221

Epiphany and Evolution: How Does Entrepreneurial Judgment Change With Time? Ugur Uygur and SungMin Kim 222

Is it Worth Flanning for Failure? When and How? Yasuhiro Yamakawa 223

Entrepreneurial Symbioses: Entrepreneurs' Psychological Ownership, Decision Making and Growth Ronit Yitshaki, Orly Wodnizki and Fredric Kropp 224

VI. ENTREPRENEURIAL MOTIVATIONS

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

Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework James C. Hayton, Gabriella Cacciotti, Andres Giazitzoglu, J. Robert Mitchell and Chris Ainge ... .225

What do Entrepreneurs Talk about When They Talk about Failure? William B. Gärtner and Amy E. Ingram 240

SUMMARIES

Goal Setting, Goal Striving, and Goal Attainment: A Longitudinal Study of Entrepreneurs' Motivation Gordon K. Adomdza and Leon Schjoedt 254

The Effect of Enterprises' Growth Orientation and Access to Finance on Small Firm Performance in a Global Economic Recession Marc Cowling and Weixi Liu 255

Explaining Entrepreneurial Performance of Solo Self-Employed from a Motivational Perspective Nardo de Vries, Werner Liebregts and Andre van Stel 256

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

From Parental Role Models to Entrepreneurial Intention: Key Mediating Factors across Three Cultures Xiaohua Lirt, Alan Carsrud, Malin Brännback andAkin Kogak 257

The Equity Structure of New Ventures: How Founders Decide Whether and How to Share Ownership Juan Quiroga 258

Advice before the Journey: The Role of Knowledge, Start-Up Assistance, and Advice in the Formation of Entrepreneurial Intent Mark T. Schenkel, Rodney R. D'Souza and Jeffrey R. Cornwall 259

Bouncing Back After a Period of Doubt: Does Mentoring Help Entrepreneurs Get a Second Wind? Etienne St-Jean andAmelie Jacquemin 260

Passionate Entrepreneurs Improvise More with Their Resources - and that Helps Them Stay Afloat Pekka Stenholm and Maija Renko 261

INTERACTIVE PAPERS

Reconsidering Serial Entrepreneurs: Intervening Employment Experience as the Missing Link Dan K. Hsu, Ben Powell and Betty S. Coffey 262

VII. ENTREPRENEURIAL NETWORKS

How Entrepreneurs' Fairness Perceptions Influence Cooperation Processes Elco van Burg Isabelle Reymen, Victor Gilsing and Georges Romme 263

SUMMARIES

Causation and Effectuation in the Process of Entrepreneurial Networking Tamara Galkina 278

Your Social Skills Unlock the World of Resources: How Entrepreneurs' Social Skills Impact their Resource Acquisition Kim Klyver and Mette S0gaard Nielsen 279

How Entrepreneurial Trials Shape Enabling Network Dynamics? Wadid Lamine, SarfrazA. Mian and Alain Fayolle 280

How Material Artifacts Impact Entrepreneurial Networking Process? Wadid Lamine, Alain Fayolle and Sarah Jack 281

How Entrepreneurs' Knowledge and Reliance on Network Ties Relate to Startup Performance Diane M. Sullivan, William R. Meek and Cameron M. Ford 282

DETAILED TABLE OF CONTENTS

INTERACTIVE PAPERS

Exit: The Effects of Embeddedness of the Firm and the Entrepreneur Nancy Forster-Holt and Jason Harkins 283

Pass On the Good Vibes: How Resource Endowment Exchanges Across Individuais Mette Sogaard Nielsen and Kim Klyver 284

VIII. WOMEN ENTREPRENEURSHIP

The Role of Gender in Entrepreneur-Investor Relationships: A Signaling Theory Approach Gry Agnete Alsos and Elisabet Ljunggren 285

Pitch Like A Man: Gender Stereotypes and Entrepreneur Pitch Success Lakshmi Balachandra, Anthony R. Briggs, Kimberly Eddieston and Candida Brush 300

SUMMARIES

Women of Business or the Business of Women: Projecting Dollar Appeal Lakshmi Balachandra, Chris Welter and Patti Greene 315

Gender and Commitment to the Family Entrepreneurial Venture GraceKim 316

Gender Differences in Entrepreneurship: Assessing Perceptions of Entrepreneurial Outcomes among Men and Women Entrepreneurs William R. Meek and Diane M. Sullivan 317

Gender of Ownership and the Growth of Young Enterprises Allan Riding, Barbara Orser and Owen Jung 318

Challenging the Female Underperformance Hypothesis Roxanne Zolin and John Watson 319

INTERACTIVE PAPERS

Women Entrepreneurship in the Eco Region: Do Financial, Human and Social Capital Matter? SarfrazA. Mian, Emine Esra Karadeniz and Leyla Sarfaraz 320

IX. TEAMS

Preventing Dysfunctional Conflict: Examining the Relationship between Different Types of Managerial Conflict in VC Backed Firms Bradley George, Truls Erikson and Annaleena Parhankangas 321

SUMMARIES

Sensemaking In Leadership Change - How TMTs of Entrepreneurial Firms Move on after the Founder's Love Affair Ends Caroline N. Kaehr Serra and Stefano Borzillo 336

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

The Impact of Regional Human Capital and Socio-Cultural Institutions on the Functional Composition of Founding Teams Siddharth Vedula, William R. Forster, JenniM. Dinger and Michael J. Conger 337

INTERACTIVE PAPERS

The Impact of Socio-Demographic Dissimilarity on the Longevity of External Directors in Family Firms Karin Hellerstedt, Miriam Bird and Karl Wennberg 338

Founding Team Ownership Distribution: Perceived Justice and Commitment David Noack, Douglas R. Miller, Nathan Neale, Arvin Sahaym and Jonathan D. Arthurs . .339

Human Capital Shortages and Entrepreneurial Firm Performance: A Long-Run Perspective Josh Siepel and Gordon Murray 340

X. GOVERNANCE

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

Imprinting or Institutionalization? Examining How Social Capital is Transferred during Founder-CEO Successions BretR. Fund 341

SUMMARIES

Nascent Govemance: The Impact of Entrepreneurial Finance On Board Formation and Roles Christophe Bonnet, Peter Wirtz and Martine Seville 356

The Emergence of Organizational Properties: Evidence from Pre-Operational Businesses Scott R. Gordon and Per Davidsson 357

Keeping Things in the Family? The Influenae of Non-Family Govemance on the EO-Performance Relationship Stefania Migliori, Eleonora Monaco, Augusta Consorti and Paul Steffens 358

INTERACTIVE PAPERS

Which Combinations of New Venture Firms' Resources Payoff? A Configurational Perspective Artur Baldauf, Simone A. Schweiger and Adrian Wuethrich 359

The Influenae of Environmental Munificence on the Value of Board Human and Social Capital in IPOs Sam Yul Cho, Jonathan Arthurs, Daeil Nam, Sangyoun Lee and Sakdipon Juasrikul. 360

Where Do Boards Come From? Imprinting Effects of Early Stage Board Composition and Performance of Venture-Backed Startups Bret R. Fund 361

DETAILED TABLE OF CONTENTS xxvii

The Dimensionality of Organizational Performance in Entrepreneurial Orientation Research: A Comprehensive Review and Suggestions for Future Research Vishai K. Gupta and William }. Wales 362

Neither Open nor Closed: Organizational Boundary Permeability and New Venture Growth Robert Nason and Johan Wiklund 363

Legitimate to Whom? Legitimacy Judgment Asymmetries as Institutional Entrepreneurship Opportunities Andrew Sutton and Tim R. Holcomb 364

XI. STRATEGY

Boundary Conditions of Business Model Dynamics: New Ventures in Nascent Markets Bart Clarysse, Mike Wright and Charlotte Pauwels 365

Avoiding Capability Traps through Contingent Contracts: Cash and Knowhow in Startups S. Sinan Erzurumlu, Nitin Joglekar, Moren Levesque and Fehmi Tanrisever 380

Making Wine and Making Successful Wineries: Resource Development in New Ventures G. Page West III and Ian M. Taplin 395

Signaling Legitimacy: An Analysis of Media for Successful and Failing New Ventures Andrew Zacharakis and Alisa Boguslavskaya 410

SUMMARIES

Building Interorganizational Networks in an Emerging Economy: The Role of Cognitive Legitimacy Wafa N. Almobaireek, Ahmed A. Alshumaimeri and Tatjana S. Manolova 424

Mobility Barriers within Strategie Croups: A Longitudinal Examination of Nascent Firms Alejandro Amezcua and Tiago Ratinho 425

How do Business Models Evolve and Translate into Organizational Routines and Processes? An Empirical Examination of Tech Startups in Washington, DC Metro PunitArora 426

Persistence and Evolution of Entrepreneurial Orientation: A Dynamic Capability Approach Tommy H. Clausen 427

Business Model Change and Performance of Early-Stage Entrepreneurial Firms Sergio Costa 428

The Role of Human and Social Capital in Business Model Adaptation of New Ventures Antonio G. Dottore and J. Henri Burgers 429

Entrepreneurial Orientation and Firm Performance: A Longitudinal Perspective Vishai K. Gupta, Andreas Engelen and Alex Franke 430

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

INTERACTIVE PAPERS

Multi-Dimensional View on Entrepreneurial Orientation: A Longitudinal Cross-Country Study of Environmental and Performance Effects Artur Baldauf, Tatiana Romanova Stettierand Galina Shirokova 431

The Influence of Strategy and Human Capital on New Venture Failure Modes Espen J. Isaksen 432

Boundary Spanning in the Entrepreneurial Firm: Effects on Innovation and Firm Performance Laurel F. Ofstein and Rod Shrader 433

XII. FAMILY ENTERPRISE

Exploring the Tension between Strategie Resource Characteristics: Evidence from Indian Slum Households David Gras and Robert S. Nason 434

SUMMARIES

How Much Family is Necessary? The Impact of the Family on Firm Growth Miriam Bird 449

R&D Investment in Family and Non-Family Start-Ups: A Behavioral Perspective Nicolas Classen and Martin Carree • 450

Dominant Logics in Publicly Traded Family-Controlled Firms: A Behavioral Theory Perspective Rieh Gentry, ClayDibrell, Jaemin Kim and Samantha Fairclough 451

Individual Dimensions of Entrepreneurial Orientation (EO) Construct, Resources and Firm Growth: Evidence from Indian Small & Medium Enterprises (SMEs) Rakesh Gupta and Prashant Gupta 452

Capital Constraints and the Performance of Entrepreneurial Firms in Vietnam Hien Thu Tran and Enrico Santarelli 453

XIII. THE ORGANIZATION AND NETWORKS

SUMMARIES

Network and Path Building Processes in Emerging Ventures Juliana Iarossi, Mark Keil and Benjamin Oviatt 454

Exploring Business Model Dynamics: A Longitudinal Approach Tobias Mathar 455

Resource Contributions from External Actors and New Venture Innovation Speed in Academic Spin-Offs Einar Rasmussen

DETAILED TABLE OF CONTENTS xxix

XIV. ENVIRONMENT

Renewable Energy Emergence in the European Union: The Role of Entrepreneurs, Social Norms and Policy Raquel Antolin-Lopez, Jeffrey York and Javier Martinez-del-Rio 457

Priming the Pump: Demand-Side Drivers of Entrepreneurial Activity Richard A. Hunt 472

SUMMARIES

Performance Differentials of Agglomeration and Strategie Croups: A Test of Incubation and New Venture Strategy Alejandro Amezcua, Tiago Ratinho and Parvathi Jayamohan 487

Institutional Regimes, Entrepreneurship and Growth in European Regions Krista Bruns, Niels Bosma and Mark Sanders 488

Opportunity Shaping: Demand Side Influences On New Venture Business Model Innovation Jon C. Carr, Daniela P. Blettner and Isabell M. Welpe 489

The Entrepreneurial Kaleidoscope: International Social Constructions of the Entrepreneur - A Metaphorical Study Alice de Koning and Sarah Drakapoulou Dodd 490

The Blessing of Necessity and Advantages of Newness Benson Honig, Tomas Karlsson and Gustav Hägg 491

Legitimacy and Resources Flows In Base-Of-The Pyramid Market Geoffrey Kistruck, Justin Webb, Christopher Sutter and Anastasia Bailey 492

Self-Employed but Looking: A Labor Market Experiment Philipp D. Koellinger, Julija Meli, Irene Pohl, Christian Roessler and Theresa Treffers 493

Culture as a Driver of Entrepreneurship: Contrasting Independent Entrepreneurship versus Employee Entrepreneurship Paul Steffens and Michael Stützer 494

Radicalness of Technological Base, Pace of Technological Development, and Performance of Young Technology-Based Firms Joachim Tischler and Achim Walter 495

Is Corruption A Barrier to Firm Innovativeness? A Cross-National Comparison of Emerging and Mature Market Economies Vartuhi Tonoyan and GarryBruton 496

The Interplay between Environmental Norms and Venture Capital Supply on Driving Entrepreneurial Entry into the Clean Tech Sector Siddharth Vedula and Jeffrey G. York 497

FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

INTERACTIVE PAPERS

The Interplay of Individual and Contextual Factors in the Formation of University Start-Ups A Multi-Level Analysis of Nascent Entrepreneurs Heiko Bergmann, Christian Hundt and Rolf Sternberg 498

Explaining New Firm Creation in Europe - A Multi-Level Analysis Based Upon Data of Individuais, Regions, and Countries Christian Hundt and Rolf Sternberg 499

Blow-Ins Locals and Natives: Social Embeddedness and Entrepreneurial Performance in the Gaeltachts Bryan T. Stinchfield and Emer Ni Bhrädaigh 500

XV. INTERNATIONAL

SUMMARIES

Foreign Direct Investment and Domestic Entrepreneurship: What are the Linkages? Segil Hülya Danakol, Saul Estrin, Paul Reynolds and Utz Weitzel. 501

Growth Aspirations and Social Capital of Young Firms' Owners and Managers in a Post-Conflict Environment Adnan Efendic, Tomasz Mickiewicz and Anna Rebmann 502

Exploring Expatriate Entrepreneurship Nedim Efendic and Zeynep Yetis 503

International Market Exit and Survival of Small and Medium Sized Enterprises Jonas Onkelinx, Tatiana S. Manolova and Linda E Edelman 504

Path Creating and Path Breaking: The Effects of Initial International Entries on Venture Growth and Performance David W. Williams and Denis A. Gregoire 505

Resource Mobility and Early Internationalization of New Ventures R. Isil Yavuz and Sri Zaheer 506

INTERACTIVE PAPERS

Institutions and the Rate of Formal and Informal Entrepreneurship across Countries Zoltan J. Acs, Sameeksha Desai, Pekka Stenholm and Robert Wuebker 507

International Collaborations and Open Innovation Capabilities of SMEs: The Effect of Institutional Factors Marine Falize and Regis Coeurderoy 508

DETAILED TABLE OF CONTENTS XXXI

XVI. CORPORATE ENTREPRENEURSHIP

SUMMARIES

Competitive Advantage through Entrepreneurial Decision-Behavior: Effectuation for Fast Problem-Solving Matthias Blauth and Rene Mauer 509

The Cultural Embeddedness of Entrepreneurial Orientation - A Multilevel Study Michael Buchsteiner and Andreas Engelen 510

Multilevel Contingencies in the Relationship between Personal Initiative and Job Performance of Middle Managers Lotte Glaser and Wouter Stam 511

Uncovering the Determinants of Initiative Survival in Corporate Venture Units: A Multi-Stage Selection Perspective Monica Masucci, James C. Hayton and Stefano Brusoni 512

Pro-Entrepreneurial Architectures and Relational Influences: Design Implications for Creative Self-Efficacy and Innovative Behavior Mark T. Schenkel, Deborah V. Brazealand Suresh Kumar 513

INTERACTIVE PAPERS

The Cornerstones of SMEs Entrepreneurial Orientation: A New Perspective Cristina Bettinelli, Kathleen Randerson and Giovanna Dossena 514

Reaping their Just Desserts? An Examination of How Corporate Entrepreneurs are Punished and Rewarded within the Workplace YvetteP. Lopez, Justin W. Webb and Christopher Pryor 515

Spin-Off Formation Processes in the Context of Adverse Corporate Events Colm O'Gorman, Declan Curran and Chris van Egeraat 516

Where does Effectual Decision Making Originale from? A Multilevel, 12-Country Examination Klaus Willmann 517

XVII. PUBLIC POLICY

The Perceived Value of Inventor Status Sharon Dolmans, Scott Shane, Joseph Jankowski, Isabelle Reymen and Georges Romme 518

SUMMARIES

Entrepreneurial Narrative Networks: Routines for Overcoming Uncertainties in Academic Entrepreneurship and the Commercialization of Science phillip H. Kim and Reddi Kotha 531

Training Mentors: A Way to Ensure the Quality of Mentoring Outcomes for Novice Entrepreneurs? Etienne St-Jean and Stephanie Mitrano-Meda 532

TTTÜ FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013

INTERACTIVE PAPERS

Directions for a New African Entrepreneurship Research Agenda: Portfolio Entrepreneurship as a Solution to Africa's Impending Employment Dilemma Antonio C. Malfense Fierro and David Noble 533

Successful Entrepreneurship Policy - A Matter of Organizing? Pia Schou Nielsen 534

XVIII. SOCIAL ENTREPRENEURSHIP

THE G. DALE MEYER AWARD FOR THE MOST RELEVANT RESEARCH IN SOCIAL ENTREPRENEURSHIP

Microfinance Institutions as Social Entrepreneurs: When do They Fulfill a Social Mission? Mariarosa Scarlata, Jonathan Kimmitt and Dimo Dimov. 535

THE JOURNAL OF SMALL BUSINESS MANAGEMENT (JSBM) AWARD FOR EXCELLENCE IN RESEARCH ON THE TOPIC OF PUBLIC POLICY

Is Microcredit a Blessing for the Poor? A Meta-analysis Myrto Chliova, Jan Brinckmann and Nina Rosenbusch 550

The Formation of Opportunity Feasibility Reliefs in Social Entrepreneurship: A Configurational Analysis of Institutional Conditions Pablo Munoz and Ewald Kibler 565

If You Build It, Will They Stay? Mission Stability in Nascent Social Ventures E. Erin Powell and Ted Baker 580

Social Capital, Social Innovation and Social Impact Christiana Weber, James Wallace and Anja Tuschke. 595

SUMMARIES

Catalyzing Social Innovation: Is Entrepreneurial Bricolage always Good? Jill Kickul, Sophie Bacq and Niharika Garud 610

Social Investing - What Matters from the Perspective of Social Enterprises? Judith Mayer and Barbara Scheck 611

Picking up The Slack: Social Venture Creation under Market Failure Conditions Karla I. Mendoza-Abarca and Sergey Anokhin 612

Comparing the Motivations of Social and Commercial Entrepreneurs Scott L. Newbert, Narda R. Quigley and Kevin D. Clark 613

Resisting Pressure? Longitudinal Evidence on Mission-Drift in Hybrid Organisations Ute Stephan 614

A Business Model Canvas for Social Enterprises Virginie Vial 615

DETAILED TABLE OF CONTENTS min

XIX. ENTREPRENEUR OTHER

Does It Matter How You Teil It? How Entrepreneurial Storytelling Affects the Opportunity Evaluation« of Early-Stage Investors ]aume Villanueva, Harry J. Sapienza and Richard J. Sudek 616

SUMMARIES

Gelting Off On the Right Foot: Identifying Persistent Configurations of Initial Resources, Strategy and Environment that Enable Start-Ups to Achieve a Sustainable Competitive Advantage Jonas Debrulle, Koen W. De Bock, Sophie De Winne and Luc Sels 631

Does Country Matter for the Performance of New Ventures? Markus Fitza, Michael Dowling and Claudia Doblinger 632

Entrepreneurial Firms Engaging in Social Innovation: New Structures, Values, and Mission Raymond J. Jones III and Manjula S. Salimath 633

High-Growth Expectation Entrepreneurship: Insights from a Gender Approach Matilde Ruiz-Arroyo, Ana M. Bojica and Jenny M. Ruiz-Jimenez 634

New Venture Legitimacy and Its Role in Supplier Selection Decision-Making Boris W. Zaremba, Christoph Bode and Stephan M. Wagner 635