Misfit or xenophillia

2018 ◽  
Vol 9 (1) ◽  
pp. 19-32 ◽  
Author(s):  
Jie Wu ◽  
Zhenzhong Ma
Keyword(s):  
Venture Capital ◽  
New Ventures ◽  
Critical Role ◽  
Work Experiences ◽  
Chinese Market ◽  
Content Type ◽  
Venture Capital Funding ◽  
Capital Funding ◽  
The Impact ◽  
Overseas Work

Purpose Overseas work experiences have played a critical role in venture creation and success, yet the impact of overseas work experience on returnee entrepreneurs’ venture capital funding in the Chinese market remains understudied. This paper aims to explore the impact of returnee entrepreneurs’ overseas experiences on their opportunities of venture capital funding in China to help better understand the potential benefits that overseas work experiences bring to emerging markets. Design/methodology/approach The authors have conducted a two-year inductive field study to explore the impact of overseas experiences on Chinese returnee entrepreneurs’ funding in the Chinese market with in-depth interviews with returnee capital seekers (or the venture founders) and capital providers. Findings The results show that returnee entrepreneurs are more likely to succeed in acquiring financial resources for their new ventures if they skillfully present their overseas work experiences and international networks to manage the impression constructed by capital providers. Originality/value This research sheds light on how returnee entrepreneurs use impression management in external resource acquisition. It is clear that overseas experience has been regarded a symbol of personal capability closely associated with advanced knowledge and valuable human and social capital in the Chinese context. Resource holders appreciate such an association. The authors suggest that returnee entrepreneurs concerned about how to effectively acquire external resources should reflect upon the ways of presenting themselves to potential investors and fostering a positive image that encourages investors to commit to their ventures.

Determinants of the exit value in European venture capital-backed technology startups

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Benedetta Montanaro ◽  
Angelo Cavallo ◽  
Giancarlo Giudici ◽  
Antonio Ghezzi
Keyword(s):  
Human Capital ◽  
Venture Capital ◽  
Initial Public Offering ◽  
New Ventures ◽  
Content Type ◽  
Investor Heterogeneity ◽  
Public Offering ◽  
The Impact ◽  
The Empirical Analysis ◽  
Technology Startups

Purpose This study aims to analyze the impact of different exit alternatives, investor presence and founders’ human capital on the exit value of European venture capital (VC)-backed high technology startups. Design/methodology/approach The empirical analysis is based on a sample of 107 European firms that obtained an exit through Merger&Acquisition (M&A) or an initial public offering (IPO) between 2010 and 2017, backed by VC investors. Findings This study provides empirical evidence on how different exit alternatives, investor heterogeneity and founders’ human capital may affect the exit value of European VC-backed startups. Exiting through an IPO and retaining a larger equity stake are positively correlated with the exit value. The presence of business angels and non-governmental VC firms is associated with larger valuations. Founders’ previous education was positively correlated with the exit value. Originality/value Exit strategies in technology startups are essential to capitalize investors’ efforts and reinvest cash into new ventures, supporting the development of entrepreneurial ecosystems and countries’ competitiveness. The results of this study provide interesting hints for policymakers and contribute to an in-depth understanding of the drivers of exit valuation for startups.

The Role of Chief Marketing Officers for Venture Capital Funding: Endowing New Ventures with Marketing Legitimacy

2013 ◽  
Vol 50 (5) ◽  
pp. 625-644
Author(s):  
Christian Homburg ◽  
Alexander Hahn ◽  
Torsten Bornemann ◽  
Philipp Sandner
Keyword(s):  
Venture Capital ◽  
New Ventures ◽  
Venture Capital Funding ◽  
Capital Funding ◽  
Chief Marketing Officers

The Role of Chief Marketing Officers for Venture Capital Funding: Endowing New Ventures with Marketing Legitimacy

2013 ◽  
Vol 51 (5) ◽  
pp. 625-644 ◽  
Author(s):  
Christian Homburg ◽  
Alexander Hahn ◽  
Torsten Bornemann ◽  
Philipp Sandner
Keyword(s):  
Venture Capital ◽  
New Ventures ◽  
Venture Capital Funding ◽  
Capital Funding ◽  
Chief Marketing Officers

Effects of shared vision and integrations on entrepreneurial performance

2015 ◽  
Vol 9 (2) ◽  
pp. 150-175 ◽  
Author(s):  
Chen Chi-hsiang
Keyword(s):  
Driving Forces ◽  
New Ventures ◽  
Critical Role ◽  
Shared Vision ◽  
Equation Modeling ◽  
Content Type ◽  
Entrepreneurial Performance ◽  
Entrepreneurial Management ◽  
Internal Integration ◽  
The Impact

Purpose – This paper aims to examine the possible benefits and effects of shared vision and integration on entrepreneurial management for new Chinese ventures. By examining new enterprises, rather than already established and operating firms, this study can better demonstrate the impact of shared vision and internal or external integration on entrepreneurial performance. The empirical analyses demonstrate the importance of shared vision and both types of integration for new ventures, particularly enterprises in China. Design/methodology/approach – This study collected data from firms in Greater China, including China, Taiwan and Hong Kong. Five hypotheses were tested, for which the total sample size was 246 respondents. Confirmatory factor analysis and structural equation modeling were applied for statistical analyses. Findings – The results indicate that entrepreneurial vision correlates positively with shared vision. In its turn, shared vision correlates positively with internal integration and external integration. Furthermore, internal integration correlates positively with entrepreneurial performance. Although external integration is essential during new enterprise establishment, analytical results indicate that external integration is not strongly correlated with entrepreneurial performance. Practical implications – Shared vision plays a critical role in the integration process during the establishment of new enterprises. The results of this study show that newly established firms need to put more efforts than do operating firms into integrating external resources. Originality – / value This study contributes to a better understanding of the effects of shared vision and the different kinds of integration on entrepreneurial management. Knowing the driving forces behind these phenomena may help new firms to engage more actively in resources integration and enhance their entrepreneurial performance.

Trademarks and Venture Capital Funding

2012 ◽  
Author(s):  
Joern Hendrich Block ◽  
Geertjan de Vries ◽  
Philipp G. Sandner ◽  
Jan H. Schumann
Keyword(s):  
Venture Capital ◽  
Venture Capital Funding ◽  
Capital Funding

How do social skills enable nascent entrepreneurs to enact perseverance strategies in the face of challenges? A comparative case study of success and failure

2014 ◽  
Vol 20 (6) ◽  
pp. 517-541 ◽  
Author(s):  
Wadid Lamine ◽  
Sarfraz Mian ◽  
Alain Fayolle
Keyword(s):  
Social Skills ◽  
New Technology ◽  
New Ventures ◽  
Nascent Entrepreneurs ◽  
Entrepreneurial Process ◽  
Ongoing Research ◽  
Content Type ◽  
Start Up ◽  
The Impact

Purpose – This paper seeks to advance ongoing research in entrepreneurial perseverance. While the concept of perseverance is not new, few researchers paid attention to behavioural persistence in the entrepreneurial context. The purpose of this paper is to explore the emergence of new technology based firms (NTBF) by focusing on the role of nascent entrepreneurs’ social skills in the meeting the changes of entrepreneurial perseverance. Design/methodology/approach – In this paper the authors study the start-up phase of entrepreneurial process. The authors opted for a longitudinal case study approach in order to enhance the knowledge on entrepreneurs’ social skills and perseverance. For triangulation purpose the data were gathered using four different information sources. The use of Nvivo8 as the data analysis tool helped to impose a discipline and structure which facilitated the extraction of core insights. Findings – This paper contributes to the understanding of the entrepreneurial perseverance in the context of new venture creation. Particularly, reading the entrepreneurial process through the lens of the perseverance strategies model (Van Gelderen, 2012) provided a way to identify and then to assess the impact of the social skills on the overall entrepreneurial perseverance and their combined impact on the performance of NTBF creation process. In doing so, the authors identify the impact of entrepreneurs’ social skills to deal with a series of entrepreneurial problems such as scarcity of resources, uncertainty and ambiguity and consequently their impact on the likelihood of survival for new ventures. The issues that arose mostly reflected the inherent complexity of technology transfer processes, the university and entrepreneurs’ diverging cultures, and the very characteristics of the start-up phase of NTBFs. The findings reveal how social skills impact the entrepreneurial paths and probable outcomes. Research limitations/implications – This paper contributes to the understanding of the entrepreneurial perseverance in the context of NTBF creation. The findings reveal how social skills and perseverance impact the entrepreneurial paths and probable outcomes. Practical implications – The paper has implications for entrepreneurial support mechanisms such as technology business incubators in helping them to improve the efficacy and efficiency of their assistance to entrepreneurs through the development of their skill-sets and perseverance and providing enabling networking. In addition, the research has implications for entrepreneurship education and training. Indeed, there is an urgent need to design and implement courses and programs aiming at developing soft skills in entrepreneurship. Originality/value – In exploring networking and issues of perseverance for nascent entrepreneurs operating in new technology-based sectors, which the authors consider as an under searched area in entrepreneurial literature.

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