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1.
Despite significant business opportunities made possible through advancements in technology, readily available digital technologies are often overlooked and not used by new ventures. To address this knowledge gap, this paper looks at the relationships between readily available digital technologies and born-digital new venture capabilities. We use an affordance lens to explore conditions in which born-digital new ventures interact with digital technologies to actualize digital affordances that facilitate the development of important capabilities. First, using the existing literature, we present a research model and its key elements. Then, using data on new ventures in a Canadian university incubator, we conduct fuzzy-set qualitative comparative analysis (fsQCA) and develop seven configurational research propositions as pathways to develop information technology-enabled organizational capabilities in new ventures. Using this retroductive approach, this research builds a context-specific middle-range theory that explains complex interactions between readily available digital technologies and new venture characteristics, where resources are provided by incubators in dynamic environments, to facilitate the development of ITOCs in the new ventures. We close by describing the study’s theoretical and practical implications. 相似文献
2.
Subsidized research joint ventures (RJVs) between public research institutions and industry have become increasingly popular in Europe and the US. We study the long-run effects of such a support scheme that has been maintained by the Danish government since 1995. To cope with identification problems we apply nearest neighbor matching and conditional difference-in-difference estimation methods. Our main findings are that (i) program participation effects are instant for annual patent applications and last for three years, (ii) employment effects materialize first after one year and (iii) there are no statistically significant effects on value added or labor productivity. We further show that these overall results are primarily driven by firms that were patent active prior to joining the RJV and that there are no statistically significant effects for large firms. The insignificant results we document for large firms coupled with the fact that these type of firms are over-represented in many support programs, including the one considered here, leads us to suggest a rethinking of support policies that often aim at large firms. 相似文献
3.
《Research Policy》2019,48(7):1666-1680
Using data on the entire population of businesses registered in the states of California and Massachusetts between 1995 and 2011, we decompose the well-established gender gap in entrepreneurship. We show that female-led ventures are 63 percentage points less likely than male-led ventures to obtain external funding (i.e., venture capital). The most significant portion of the gap (65 percent) stems from gender differences in initial startup orientation, with women being less likely to found ventures that signal growth potential to external investors. However, the residual gap is as much as 35 percent and much of this disparity likely reflects investors’ gendered preferences. Consistent with theories of statistical discrimination, the residual gap diminishes significantly when stronger signals of growth are available to investors for comparable female- and male-led ventures or when focal investors appear to be more sophisticated. Finally, conditional on the reception of external funds (i.e., venture capital), women and men are equally likely to achieve exit outcomes, through IPOs or acquisitions. 相似文献
4.
Strategic research partnerships (SRPs) have become a salient feature of the US National Innovation System. We provide an overview of SRPs and examine the antecedents and consequences of centerpiece legislation designed to stimulate the formation of SRPs: the National Cooperative Research Act (NCRA) of 1984. NCRA allows firms to disclose their research joint ventures (RJVs) to the Department of Justice, which enabled them to significantly reduce their exposure to antitrust litigation. We estimate an econometric model of trends in RJV filings and find that, as intended by the legislation, the propensity of firms to engage in RJVs is sensitive to changes in the global competitiveness of US high-technology industries. More importantly, our results suggest that the establishment of the Commerce Department’s Advanced Technology Program, which provides financial support to firms that engage in collaborative research projects, induced firms to engage in additional (privately financed) RJVs. This is a spillover mechanism that warrants further attention as national innovation systems evolve. 相似文献
5.
创业战略是新企业获取竞争优势的关键手段,现有研究对这一问题展开了初步探讨,但存在不足,仍需要进一步完善。一方面以新企业作为对象来剖析创业战略作用机理的研究缺乏;另一方面,转型情境的关注不足,即转型环境特征对创业战略的作用研究不足。以现有研究为基础,结合新企业特点和中国情境独特性,探讨投机导向、创业战略与新企业竞争优势之间的关系。通过对226家新企业的数据分析,实证结果表明：投机导向和创业战略对新企业竞争优势都会产生积极影响,并且产品创新战略和营销差异化战略在投机导向与竞争优势之间起到部分中介作用。研究成果进一步拓展了战略管理和创业研究领域,并为新企业发展提供了实践指导意见。 相似文献
6.
Timothy B. Folta Walter J. Ferrier 《The Journal of High Technology Management Research》2000,11(2):175-198
This study examines how national culture influences the likelihood and rate of buyouts among R&D equity alliances and joint ventures in the biotechnology industry. We hypothesize that the interaction of specific national culture attributes and cultural differences between alliance partners have an impact on: (1) the amount of endogenous uncertainty surrounding the potential integration of the target firm and (2) the marginal rate of learning in hierarchical versus collaborative governance. Applying a competing hazard model to a sample of 173 joint ventures and minority equity collaborations in the biotechnology industry, we found that investing firms from high power distance and high uncertainty avoidance countries are more likely to buy out their alliance partners. Furthermore, greater cultural distance between alliance partners increases the likelihood of partner buyout when investing firms are from high power distance countries. 相似文献
7.
Although sources and determinants of academic entrepreneurship have begun to command the attention of policy-makers and researchers, there remain many unanswered questions about how individual and social factors shape the decisions of academics to engage in entrepreneurial activities. Using a large-scale panel of academics from a variety of UK universities from 2001 to 2009, this paper examines how an academics’ level of entrepreneurial capacity in terms of opportunity recognition capacity, and their prior entrepreneurial experience shape the likelihood of them being involved in starting up a new venture. In addition, we explore what role university Technology Transfer Offices (TTOs) play in stimulating venture creation. The results show that individual-level attributes and experience are the most important predictors of academic entrepreneurship. We also find that the social environment surrounding the academic also plays an influential role, but its role is much less pronounced than individual-level factors. Finally, we show that the activities of the TTO play only a marginal, indirect role, in driving academics to start new ventures. We explore the implications of this analysis for policy and organizational design for academic entrepreneurship. 相似文献
8.
External finance is a central issue for innovative nascent ventures. In this study, we argue that innovative nascent ventures may use patents to signal appropriability and prototypes to signal feasibility to potential investors. Using new data on 906 nascent ventures, we find that nascent ventures with patents or patent applications as well as prototyped innovations are more likely to obtain equity finance. However, nascent ventures that can solely signal appropriability by patenting are not more likely to obtain equity finance. This result may indicate that venture capitalists and business angels assign higher value to the appropriability signal when coupled with feasibility and vice versa. 相似文献
9.
The influence of the university department upon spin-off venture evolution is complex and dynamic. We examine how the university department context influences the spin-off process from the perspectives of both the spin-off venture and the department. By comparing the development of entrepreneurial competencies within spin-offs based in different departments at the same universities we observed significant differences in early venture performance. Small differences in initial departmental support from management and senior academics for gaining commercial experience and spending time exploring the commercial opportunity were seen to have a major impact upon the subsequent spin-off development path. Supported ventures gained momentum as the department helped develop entrepreneurial competencies and influenced how these competencies were developed from external actors outside the department. By contrast, a lack of departmental support for entrepreneurship severely constrained the evolution of spin-offs regardless of university level policies and practices. This emphasizes the need for a shift in focus from the well-studied university level to the relatively neglected department level to help explain institutional differences in university spin-off activity. 相似文献
10.
基于交易成本理论,探讨不同控制权分配情况下,合资承诺对公告公司股票收益的影响。本文以2009年至2013年间发布合资公告的上市公司为研究对象,利用事件研究法和多元回归分析方法,研究股票市场对合资公告的反应。实证结果显示,股票市场对合资公告具有积极的正向反应,股票收益随着投资承诺的增加而增加,但与时间承诺的关系并不显著。当伙伴掌握绝对控制权时,投资承诺对公告公司股票收益的边际贡献率最高,权力平衡的分配模式次之,最低的为公告公司掌握绝对控制权的情况。本研究从控制权分配角度,解释了合资承诺与企业绩效之间的关系,为管理者提供了关于合资投入和控制权分配的决策参考。 相似文献
11.
《Research Policy》2023,52(7):104792
The ability to identify early-stage venture potential, which has traditionally relied on experts, is challenging because new ideas are uncertain. However, judgment from a large number of evaluators can effectively identify promising ventures. This paper empirically studies whether crowd-based information generates informative feedback for entrepreneurs and seed investors. Using data on 701 early-stage founders of new ventures examined by 2600 evaluators, I estimated the effects of crowd-based ratings on survival and securing seed funds. I find that the crowd rating was uncorrelated with subsequent financing events from seed investors but increased a venture's probability of continuation by 3.1 percentage points. This effect became stronger as the number of evaluators increased. This finding highlights that a judgment aggregation offers information for nascent venture founders. 相似文献
12.
One of the theoretically important factors for incubator firm performance is the strength of their linkages to the research university sponsoring the technology incubator. Herein, we focus on two types of university linkages to the sponsoring institution: a license obtained from the university and a link to university faculty, while controlling for incubator firm linkages to non-sponsoring research universities, among other factors. We propose that a university link to the sponsoring institution reduces the probability of new venture failure and, at the same time, retards timely graduation. Further, we suggest that these effects are more pronounced the stronger the university link. Due to the difficulty of obtaining fine-grained longitudinal data, the incubation literature is characterized by a dearth of studies focusing on incubator firm differential performance. We attempt to take a first step towards closing this gap by testing these hypotheses through following 79 start-up firms incubated in the Advanced Technology Development Center at the Georgia Institute of Technology over the 6-year period between 1998 and 2003. We find broad support for the hypotheses advanced. 相似文献
13.
双元知识整合创业能力与高技术新企业绩效 《科学学研究》2017,35(2):264-271
基于知识基础理论和组织双元观,本文以转型经济情境为研究背景,深入揭示双元知识整合、创业能力与高技术新创企业绩效之间的关系。来自279家中国高技术新创企业实证分析结果表明：双元知识整合对高技术新创企业绩效和创业能力均具有积极影响。此外,创业能力在双元知识整合与高技术新创企业绩效间关系中具有完全中介作用。本研究有助于拓展和深化了知识基础理论,弥补现有研究空白并推动知识基础理论和创业能力理论的发展和融合。在实践方面,本研究为转型经济情境下高技术新创企业如何高效、灵活地整合创业知识以构建创业能力从而提升绩效提供重要的理论指导。 相似文献
14.
在分析基于研究联合体的国家自主创新示范区创新生态系统(以下简称"示范区创新生态系统")构成要素与演化过程的基础上,构建示范区创新生态系统运行机制模型,包括运行初期、运行中期和运行成熟期。研究发现,示范区创新生态系统在发展不同阶段形成的不同运行机制相互联系、相互制约,构成一个有机的整体,共同发挥作用,促进系统走向成熟。为保障示范区创新生态系统运行机制健康运转,提出应在示范区创新生态系统运行初期注重提高研究联合体成员企业的研发能力,在运行中期加强研究联合体成员企业间的研发合作,在运行成熟期将研究联合体成员企业利益刺激作为原始动力;此外,还应探索建立研究联合体长期动态博弈的研发合作模式,充分发挥创新政策的作用。 相似文献
15.
In this paper, we present several insights regarding the influence of institutional design on the process of Research Joint Venture (RJV) formation. Our results are obtained with a firm-level dataset on RJVs formed under the umbrella of the Eureka initiative and of the European Union’s Framework Programmes (EU-FPs) for science and technology. We focus on firms that are known to have a high probability of forming RJVs, with the latter identified as firms with a past experience in collaborative research. The results indicate that EU-FP RJVs are consistent with a “top-down” and “mission oriented” research policy. By contrast, Eureka RJVs appear as more market driven and “bottom-up”. 相似文献
16.
In this paper, we focus on the potential innovative benefits to corporate venture capital (CVC), i.e. equity investments in entrepreneurial ventures by incumbent firms. We propose that corporate venture capital programs may be instrumental in harvesting innovations from entrepreneurial ventures and thus an important part of a firm's overall innovation strategy. We hypothesize that these programs are especially effective in weak intellectual property (IP) regimes and when the firm has sufficient absorptive capacity. We analyze a large panel of public firms over a 20-year period and find that increases in corporate venture capital investments are associated with subsequent increases in firm patenting. 相似文献
17.
This paper investigates the development of university spinout companies (USOs). Employing a case-based research method, our study found that there are two important elements in their development. First, USOs go through a number of distinct phases of activity in their development. Each venture must pass through the previous phase in order to progress to the next one but each phase involves an iterative, non-linear process of development in which there may be a need to revisit some of the earlier decisions and activities. Second, at the interstices between the different phases of development we found that ventures face “critical junctures” in terms of the resources and capabilities they need to acquire to progress to the next phase. The different phases are critical as these ventures cannot develop into the next phase without overcoming each of the junctures. We identify four different critical junctures that spinout companies need to overcome if they are to succeed: opportunity recognition, entrepreneurial commitment, credibility and sustainability. 相似文献
18.
Judith Behrens Holger Patzelt Lars Schweizer Robin Bürger 《The Journal of High Technology Management Research》2012,23(2):112-121
In this article we investigate how specific human capital in biopharmaceutical ventures' management teams impacts the financial commitment of venture capital investors. Further, we explore how this impact changes with the venture's age. We draw on data from 138 VC financing rounds in the US and Europe to show that biopharmaceutical ventures with greater portions of specific managerial human capital in the fields of management, law, medicine, and biosciences acquire more money in venture capital financing rounds, but this effect is contingent on the age of the venture. We discuss the implications of these findings for the literature on VC financing of high technology ventures. 相似文献
19.
This paper investigated how universities facilitate the process of spin-off venture formation based on academic research. Building on a capability perspective, we add to the literature on university characteristics and resources by exploring how the university context impacts the entrepreneurial process. We based our study on two mid-range universities and followed the start-up process of four spin-off ventures. Based on the results of our longitudinal study, we propose a set of three university capabilities that facilitate the venture-formation process: (1) creating new paths of action, (2) balancing both academic and commercial interests, and (3) integrating new resources. Each capability is particularly important for specific phases in the venturing process. Our findings suggest that these capabilities are dependent on prior spin-off experience and reside within several actors both inside and outside of the university. Furthermore, universities with weaknesses in the identified areas can take strategic action to develop these capabilities to some degree. 相似文献
20.
“激情创业,理性行动”已成为创业实践领域的共识,也是提升创业成长水平的重要手段。基于“Affect-Behavior-Output”分析框架构建了创业激情对新创企业绩效作用机理模型,并分析失败事件学习在其中的调节作用。通过对225份创业者问卷数据分析结果显示：（1）创业激情有助于提升创业者的资源拼凑行为;（2）创业者的资源拼凑行为有助于提升新创企业的绩效表现,且创业资源拼凑行为在创业激情与新创企业绩效之间起到中介作用;（3）失败事件学习正向调节创业激情与创业资源拼凑以及创业资源拼凑与新创企业绩效之间的关系。 相似文献