scholarly journals Venture Capitalists as Catalysts to New Venture Internationalization: The Impact of Their Knowledge and Reputation Resources

2009 ◽  
Vol 33 (1) ◽  
pp. 277-295 ◽  
Author(s):  
Stephanie A. Fernhaber ◽  
Patricia P. McDougall-Covin
Keyword(s):  
New Venture ◽  
Venture Capitalists ◽  
New Venture Internationalization ◽  
The Impact

scholarly journals Sustainable Investments in Responsible SMEs: That’s What’s Distinguish Government VCs from Private VCs

2021 ◽  
Vol 14 (1) ◽  
pp. 25
Author(s):  
Jeaneth Johansson ◽  
Malin Malmström ◽  
Joakim Wincent
Keyword(s):  
Decision Making ◽  
Investment Decisions ◽  
Societal Impact ◽  
Venture Capitalists ◽  
Decision Making Processes ◽  
Micro Level ◽  
Sustainable Investments ◽  
Private Venture ◽  
The Impact ◽  
Level Performance

Researchers question the impact of governmental venture capitalists (GVC) compared to private venture capitalists (PVC), but we know little about why this difference occurs and if this criticism is justified. We observed a group of GVCs and developed a new model that describes the way that GVCs process signals pre- and post-decisions. Certain macro level factors severely undermine micro level performance, causing GVCs to financially underperform with respect to PVCs. This helped us to understand that GVCs do not make investment decisions in the same way as PVCs, and what undermines the performance of GVCs’ decision-making processes. The main goals of GVCs are to promote investments in responsible SMEs, mobilizing societal impact. We discuss that the criticism of GVC needs to be more nuanced, as they have a different role than PVC in the financial system as providers of sustainable investments in responsible SMEs.

EMPOWERING ENTREPRENEURSHIP THROUGH FORESIGHT AND INNOVATION: DEVELOPING A THEORETICAL FRAMEWORK FOR EMPOWERMENT IN ENTERPRISE PROGRAMS

2006 ◽  
Vol 11 (03) ◽  
pp. 207-231 ◽  
Author(s):  
ALLAN O'CONNOR ◽  
JOSE M. RAMOS
Keyword(s):  
Theoretical Framework ◽  
New Venture ◽  
Education Design ◽  
Education And Development ◽  
The Impact ◽  
Insight Into ◽  
The Way

This study explores how education and development in the skills and knowledge of foresight, innovation and enterprise (FI and E) relate to the empowerment of young individuals with respect to creating a new venture. In 2003, three groups of young persons aged between 13 and 18 years participated in a program designed for empowerment. An evaluation was conducted nine months later that provided useful insight into the impact of the education design, content and delivery. This research provides deeper insight into the way FI and E education can be used to create empowerment through the derivation of a framework that addresses entry, process and agency factors.

scholarly journals Venture financing in the era of increasing epidemiological risks

2021 ◽  
Vol 2021 (8) ◽  
pp. 68-80
Author(s):  
Mykhailo DYBA ◽  
◽  
Iuliia GERNEGO ◽  
Keyword(s):  
United States ◽  
The United States ◽  
Venture Capitalists ◽  
Financing Policies ◽  
Current Trends ◽  
Social And Economic Development ◽  
Venture Financing ◽  
Venture Funding ◽  
The Impact ◽  
First Time

The relevance of the study of venture financing development in the era of increasing epidemiological risks is considered within the current situation in society, namely the significant impact of COVID-19 on all sectors of social and economic development. This shows the urgency of a systematic justification of current trends and peculiarities of venture financing development, taking into consideration the COVID-19 situation. The above-mentioned aspects define the purpose of our study. The theoretical basis of our study means the analysis of the specifics and priorities of venture financing, considering the timeframe from venture financing formation to nowadays. Thus, the stages of evolution of views on venture financing are highlighted. The article examines the dynamics of venture financing globally, as well as the change of relevant indicators in Europe, Asia and the United States. In particular, along with the analysis of the total amount of venture financing in each of the considered markets, the volumes of venture financing agreements that were carried out for the first time were estimated. This allowed us to analyze the relevant trends and make conclusions on the priority objects for attracting the resources of venture investors in the era of growth of epidemiological risks, depending on the experience of venture capitalists. The article compares venture funding and the incidence of COVID-19 in some countries in Europe, Asia and the United States. The approaches of European experts to the assessment of the impact of COVID-19 on venture financing are revealed. The analysis of the relevant calculations provides the possibility to structure the priorities of modern venture investors depending on the sectoral distribution of COVID-19 influences. The practical value of the study is considered within a comprehensive analysis of trends in venture financing and assessment of changes in the priorities of venture investors, considering the increasing epidemiological risks. The research may be useful both in the context of developing public venture financing policies and within developing venture financing strategies at the business level.

Technopreneurship intention among nonbusiness students: a quantitative assessment

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bahadur Ali Soomro ◽  
Naimatullah Shah
Keyword(s):  
Structural Equation ◽  
Design Methodology ◽  
Quantitative Assessment ◽  
Predictive Power ◽  
New Venture ◽  
Equation Modeling ◽  
Survey Questionnaire ◽  
Content Type ◽  
The Impact ◽  
Practical Implications

PurposeThe present study attempts to identify the predictive power of technopreneurial-related activities (TRAs), technopreneurial self-efficacy (TSE) and technopreneurial motivation (TM) on technopreneurial intention (TE) among the nonbusiness students.Design/methodology/approachA conceptual framework is developed for investigation. A quantitative approach is adopted for this research, and the data are collected from the 282 students of the different public sector universities with a survey questionnaire. The application of structural equation modeling (SEM) is applied to investigate the impact of TRAs, TSE and TM on TE.FindingsThe results of SEM found a positive and significant impact of TRAs, TSE and TM on TE among the nonbusiness students of Pakistan.Practical implicationsThe study would be beneficial for the planners and policymakers of universities to improve modes of technopreneurship. The findings may encourage the students to develop strong beliefs, abilities and skills to start a new venture. The literature of entrepreneurship and technopreneurship may further enrich with empirical evidence of the present study.Originality/valueThe study would make technopreneurs able to deal with society's challenges.

Does Social Similarity Pay Off? Homophily and Venture Capitalists’ Deal Valuation, Downside Risk Protection, and Financial Returns in India

2020 ◽  
Vol 31 (3) ◽  
pp. 576-603 ◽  
Author(s):  
Kim Claes ◽  
Balagopal Vissa
Keyword(s):  
Early Stage ◽  
Qualitative Interviews ◽  
Downside Risk ◽  
Venture Capitalists ◽  
Data Set ◽  
Start Up ◽  
Risk Protection ◽  
Regional Similarity ◽  
Post Hoc ◽  
The Impact

We ask how social similarity between start-up founders and venture capitalists (VCs) influences VCs’ pricing decisions and returns on investments. We conceptualize how regional and caste similarity, two salient aspects of social similarity in India, affect two distinct aspects of deal pricing: premoney valuation and investors’ downside risk protection in the Indian venture capital market. We theorize that VCs reflect the benefits and costs of social similarity by setting higher premoney valuation when investing in companies led by socially similar founders while also minimizing their downside risks in these investments. We expect that social similarity’s impact on pricing is amplified when VCs face greater subjective uncertainty, such as for early-stage deals or if the VCs lack expertise in the start-up company’s product market. Finally, we claim that VCs achieve superior returns on investments when their deal pricing accurately reflects the impact of social similarity. We tested our conceptual model using both parametric and nonparametric methods on a hand-collected data set of all deals that occurred during 2005–2012, and we supplemented our analyses with in-depth, qualitative interviews that contextualize our findings. The pattern of findings on regional similarity are consistent with our model, but the effects of caste in our data are theoretically anomalous. Post hoc analyses to resolve the anomaly suggest an “intrinsic quality” mechanism, whereby higher-caste VCs set higher valuations when matching with lower-caste founders that signal high quality. Overall, our findings offer evidence that VCs incorporate social attributes into deal pricing in nuanced yet boundedly rational ways.

Impacts of regulatory focus and institutions on innovation

2018 ◽  
Vol 56 (5) ◽  
pp. 939-954 ◽  
Author(s):  
Birton J. Cowden ◽  
Joshua S. Bendickson
Keyword(s):  
Regulatory Focus ◽  
New Ventures ◽  
New Venture ◽  
Institutional Setting ◽  
Prevention Focus ◽  
Content Type ◽  
Institutional Settings ◽  
Cognitive Motivations ◽  
The Impact ◽  
Shed Light

Purpose Many factors influence entrepreneurs, some of which influence the level of innovation (i.e. innovative or imitative) of new products or services pursued. The purpose of this paper is to explore the impact of the psychological motivations of the entrepreneurs and their institutional setting on the innovativeness of the new venture they pursue. Through this exploration, we can gain a better understanding of how innovative new ventures still occur in varying institutional environments. Design/methodology/approach In order to deliver the authors’ propositions as they pertain to innovation, the authors review the literature on entrepreneurs’ default regulatory focus (i.e. promotion or prevention seeking) and the strength of the institutions in which they are operating. Findings The authors theorize that promotion focus enhances innovativeness of ventures while prevention focus enhances imitativeness of ventures. The authors also provide a conceptual framework for the interplay among institutions and regulatory focus and provide a typology for how these varying combinations impact innovativeness or imitativeness of venture type. Originality/value In this study, the authors discuss and unpack the entrepreneurial mindset in order to bridge gaps between institutions and cognitive motivations of entrepreneurs as they pertain to innovativeness of venture type. By synthesizing several areas of research, the authors shed light on entrepreneurs’ innovativeness by proposing how these factors work together in determining whether an entrepreneur’s venture is more or less innovative based on regulatory disposition and in different institutional settings.

Is business planning useful for the new venture emergence?

2018 ◽  
Vol 12 (4) ◽  
pp. 847-870 ◽  
Author(s):  
Ya-long Wei ◽  
Dan Long ◽  
Yao-kuang Li ◽  
Xu-sheng Cheng
Keyword(s):  
Early Stage ◽  
Contextual Factors ◽  
New Ventures ◽  
Panel Study ◽  
Binary Logistic Regression ◽  
New Venture ◽  
Business Planning ◽  
Content Type ◽  
Innovative Products ◽  
The Impact

Purpose The purpose of this paper is to build a research model to examine the effects of business planning on the new venture emergence, as well as to examine the moderating effects of innovativeness of products. Design/methodology/approach Four hypotheses are put forward and examined by hierarchical binary logistic regression. The data of this paper are based on the first two waves of data from Chinese Panel Study of Entrepreneurial Dynamics project. Findings Results show that engaging in business planning has a positive effect on the new venture emergence, and the timing of business planning does not affect the new venture emergence significantly. This study also finds that the innovativeness of products has a positive moderating effect on the relationship between the timing of business planning and the new venture emergence. Research limitations/implications This study has some limitations. The innovativeness of products is measured by a single indicator, which may not completely reflect the meaning of the attribute. Moreover, this study explores new ventures only in the nascent stage. Practical implications The study is useful for entrepreneurs to realize the importance of business planning. First, engaging in business planning in early start-up stage is a very valuable activity, because business planning can help new ventures reduce the loss caused by trial and error learning. Second, engaging in business planning is more likely to ensure high innovative products quickly be accepted by the market. Because in the process of new venture emergence, the legitimacy signal to stakeholders can be transmitted and new products can be promoted to get support and recognition from stakeholder through the business plan. Originality/value This paper focuses on the early stage of new venture life cycle and the contextual factors to explore the influence of business planning on the new venture emergence under the logic of legitimacy. This paper could enrich business planning research from the perspective of legitimacy theory by inspiring scholars to focus on the differences between new ventures and mature enterprises and to offer proposals of legitimation strategies suitable for new ventures. Meanwhile, this study contributes to the understanding of the contextual factors of business planning. And it discusses the impact of the attribute in business planning on the new venture emergence, which helps scholars to get a deep thought about the value of business planning in entrepreneurial process.

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