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As the largest and fastest-growing transition economy in the world, China has seen both the growth of entrepreneurship and increasing scholarly endeavors in this area. To gain an in-depth insight into the evolutionary themes of entrepreneurship research in China, the present study applied a combination of co-word and critical event analysis to examine the co-evolution path of entrepreneurial activity and transition process. By investigating 277 articles published in 23 leading international academic journals from 2005 through 2019 along with several contemporaneous critical events, this paper finds that entrepreneurial studies have become more complex and diverse along with the growth of entrepreneurial activities. It implies a positive impact caused by China's market transition on entrepreneurial opportunities which has further given rise to the development of academic inquiry in the area. [ABSTRACT FROM AUTHOR]

The emerging economy perspective provides an excellent opportunity to theorize the intertwined fields of entrepreneurship and institution research. How do the institutions in emerging economies change the entrepreneurial dynamics and entrepreneurial behaviors? How do entrepreneurs reshape the institutions more favorably at multiple levels? In this paper, we identify literature gaps in theorizing institutions and entrepreneurship and build a microfoundations lens to tackle theorizing challenges in this filed. We also introduce the seven papers in this Special Issue of Asia Pacific Journal of Management on institutions and entrepreneurship with different levels of analysis and research designs. Finally, we outline a systematic research agenda in this promising and important field. [ABSTRACT FROM AUTHOR]

Despite the extensive attention to the role of entrepreneurs' business or political ties, few studies have distinguished the basis of those social ties. The aim of this study is to explore the different roles of the entrepreneurs' personalized and formal social ties on the firms' innovation performance. Based on renqing and formal rules, this study extends the social ties' typology into four categories, namely, transactional business ties, transactional political ties, guanxi business ties, and guanxi political ties. Using data collected from 209 Chinese firms, we further identify the distinctive contributions of the different ties on the entrepreneurial firm's innovation performance under different institutional environments and entrepreneurs' survival pressure. This paper will help researchers and managers better understand the function of social ties in innovation in emerging markets, such as China. [ABSTRACT FROM AUTHOR]

This paper addresses the effects of venture capitalist (VC) reputation on the performance of portfolio firms, and how this works in different institutional settings. Drawing on a dataset of 519 portfolio firms from China, we found that VC reputation does significantly increase the market value of portfolio firms in both the IPO year and the subsequent years. In addition, institutions moderate the relationship between VC reputation and portfolio firm performance such that the effect of VC reputation is positive and significant given extensive rule-based institutions, but insignificant given more relationship-based institutions. Our results provide empirical support for the impact of institutional factors such as market transparency and institutional efficiency on how venture capital firms can add value to invested portfolio firms. [ABSTRACT FROM AUTHOR]

As modern organizations become increasingly knowledge intensive, collective turnover, a phenomenon of knowledge spillover or transfer, is gradually receiving greater attention from scholars. Given that most studies have focused on the detrimental organizational consequences of collective turnover, this paper proposes a relational perspective to explore three distinct process models of dispersed, translocated, and entrepreneurial collective turnover. Based on a causal mapping analysis conducted in China of 25 collective turnover events that can demonstrate complex turnover processes over time, this study found that dispersed collective turnover, in which a group of members quit and scatter, is more likely to be triggered by shared job dissatisfaction. While translocated collective turnover, in which organizational members collectively mobilize in the same organization, is highly associated with attractive external lures. In contrast, entrepreneurial collective turnover, in which a group of members leave to start a new business together, is developed through a group process of entrepreneurial passion contagion. The ensuing triple-pathway model helps to enrich the theoretical understanding of collective turnover by clarifying the contextual differences regarding the effects of turnover destination on the important process of collective turnover. [ABSTRACT FROM AUTHOR]

This paper investigates how entrepreneurs in China accumulate and integrate information and knowledge to identify opportunities when facing weak infrastructure and changing institutional settings. By employing institutional theory and an interactive framework of entrepreneurship, this paper proposes a model that incorporates both individual and environmental effects. First the individual characteristics that lead to opportunity recognition are discussed: (1) human capital, (2) social capital, and (3) social skills. Next the model proposes that the relationships between individual characteristics and opportunity recognition are contingent upon: (1) the entrepreneurial environment in which opportunities are discovered, and (2) the personal turbulence experienced by entrepreneurs. [ABSTRACT FROM AUTHOR]

Are entrepreneurial cultures stable over time? In this paper, we use historical measures of the outgrowth of entrepreneurial culture in China and test whether these correlate with entrepreneurial activities today. We employ provincial panel data from China documenting the regional distribution of entrepreneurial activities during the Ming Dynasty (1368–1644) and the Qing Dynasty (1644–1912) and private firm activities in post-reform China (1992–2012). Our study finds a significant association between the regional distribution of historical and current measures of entrepreneurship, supporting (1) the long-term stability of underlying regional cultural differences; and (2) the adaptability of entrepreneurial activities to changing institutional arrangements and relative payoff structures. These results are robust to numerous alternative explanations, including geography, agglomeration advantages, education, and technology. Our findings suggest that government efforts to encourage new business ventures—if they are to have more than short-term effects—will need to take into account local cultural norms. [ABSTRACT FROM AUTHOR]

There has been a significant reduction in the number of desperately poor people in the world in recent years. A great deal of that reduction in poverty can be attributed in China. There is great potential for new insights for scholars, in looking more deeply into the Chinese experience in terms of entrepreneurship and poverty reduction. This paper employs an in-depth case study of how poverty was reduced through entrepreneurship and innovation in the eastern Chinese city of Yiwu. This study is a response to some scholars' call for more direct examination of businesses' involvement with the poor to shed new light on the emerging topic of the roles of business in poverty reduction. Moreover, this study reports on key factors, new insights, and experiences which have led to success in poverty reduction and contributes to theory and practice in this area. [ABSTRACT FROM AUTHOR]

Globalization has been facing a backlash. By contrast, entrepreneurship has come to be seen as a panacea for economic development and generating jobs that are perceived to be under threat from globalization. In this Perspectives paper, our central argument is that globalization and entrepreneurship must be viewed holistically, recognizing that globalization is an enabler of important entrepreneurship outcomes. We argue that networks created as a byproduct of globalization facilitate various forms of entrepreneurship. Interpersonal networks (e.g., diasporas) facilitate transnational entrepreneurship which can, in turn, reduce institutional distance between locations. Interorganizational networks (e.g., MNE-orchestrated ecosystems) facilitate technology entrepreneurship which reinforces the institutional work that gives rise to new technological domains and fields. Intergovernmental and civil society networks facilitate social entrepreneurship which helps redress institutional voids. Thus globalization can be a force for good by enabling forms of entrepreneurship that enable important institutional change. We highlight the importance of paradox thinking, which is rooted in ancient Chinese philosophy, in transcending an either/or perspective of globalization and entrepreneurship. [ABSTRACT FROM AUTHOR]

An introduction for the articles published in the periodical is presented which incorporates the topic corporate governance, entrepreneurship and international business and also discusses editorial policies of the periodical.

This article provides commentary on the analysis of venture capital in China by Ahlstrom, Bruton, and Yeh (Venture capital in China: Past, present, and future. Asia Pacific Journal of Management, ). The article considers issues relating to the scope of venture capital and private equity, the nature of venture capital and private equity organizations, the life-cycle process of VC investing, internationalization, and foreign venture capital firms. The paper identifies areas for future research and compares the Chinese VC context with those in Western Europe and Central and Eastern Europe. [ABSTRACT FROM AUTHOR]

The phenomenon of outsider-driven institutional entrepreneurship may appear both paradoxical and opaque. We examine outsider-driven institutional entrepreneurship by drawing on an in-depth qualitative case study of the emerging field of positive psychology education. We investigate how institutional entrepreneurs, located outside Kuwait's Ministry of Education, enabled actors inside the Ministry both to deviate from existing institutional arrangements and to institutionalize new practices. Our findings illustrate that outsider-driven institutional entrepreneurship in emerging fields starts with 'normalization', that is, the production of claims, arguments, and evidence, about the effectiveness of the newly proposed practices. Our study contributes to the literature on outsider-driven institutional entrepreneurship in emerging fields by identifying a set of critical activities associated with deviation from prevailing institutional arrangements, and the institutionalization of innovation. [ABSTRACT FROM AUTHOR]

In this paper, we use the term jugaad to describe the frugal, flexible, and inclusive approach to innovation and entrepreneurship emerging from India. We articulate why this method is appropriate within the Indian context and highlight similarities between jugaad and related types of innovation originating from other emerging (and developed) economies. Next, we identify different types of organizations that engage in jugaad and elucidate their abilities, or lack thereof, to undertake such innovation. Finally, we incorporate the notion of jugaad within current theorizing on innovation and entrepreneurship and outline an agenda for future research on this topic. Overall, we provide insights on a mode of innovating that is increasingly prevalent in India as well as certain economies around the world and take steps towards integrating this concept into the mainstream theory, practice, and policy discourses around innovation and entrepreneurship. [ABSTRACT FROM AUTHOR]

By combining social stratification theory and philanthropy studies, we examine how social class affects Chinese entrepreneurs' philanthropic engagement strategy. Relying on a survey of 462 entrepreneurial firms, we found that Chinese middle-class entrepreneurs are less likely to employ in-house philanthropy than entrepreneurs in either low or high classes. Prior experience in state-owned enterprises further reduces this tendency. However, no difference is found in the firm's tendency to outsource philanthropy. This study reveals important patterns on how entrepreneurial firms address social issues in an increasingly stratified social environment, an important social phenomenon not just in China but also in other major economies. [ABSTRACT FROM AUTHOR]

This paper presents a new integrated framework that integrates the resource-based view and transaction cost economics to explain the phenomenon of immigrant entrepreneurship. We extend the existing literature on immigrant entrepreneurship by identifying different types of ethnic network resources and demonstrating how these resources interact with transaction costs in the context of Chinese immigrants. Thus, our study contributes to the literature by providing a theoretical framework which identifies mechanisms immigrant entrepreneurs use to strategically deploy resources to minimize costs and maximize performance outcomes. [ABSTRACT FROM AUTHOR]

This paper explores differences in the proportion of export-oriented early-stage entrepreneurial activity in 12 Asian countries. Drawing on varieties of capitalism theory, we find that Asian countries with high quality institutions are more likely to have higher proportions of young export-oriented firms. However, analysis on a 51 country data set indicates that Asian countries have significantly fewer young export-oriented firms than do non-Asian countries. Furthermore, the multi-country study reveals that countries with higher proportions of export-oriented entrepreneurial activity tend to have flexible industrial relations, high quality vocational training, and confrontational labor–employer relations, however the proportion of export-oriented new ventures is not related to the quality of corporate governance and inter-firm relations. [ABSTRACT FROM AUTHOR]

This paper examines the structures of capitalism in Southeast Asia. Following the lead of Gordon Redding and others, it argues that parallel to varieties of capitalism elsewhere, there are distinctive features to the Southeast Asian business system, but that institutions play a relatively large role compared to firm specific resources or industry structures. Historically, with the exception of Thailand all the countries in the region are former colonies. All including Thailand share a distinctive style of nationalism, and partly as a result of this, all are governed by states that claim to be strong and lay wide claims but whose capacities are low. Typical features of the region, particularly the roles of large business groups and the Chinese minority, also can be interpreted as a result of this history. One of the outcomes of the analysis is an extension of the varieties of capitalism approach along the dimensions of state capacity and state direction, and of the approach to the internationalizing firm along the dimensions of dynamic capacity and control of subsidiaries. A further outcome is a questioning of the traditional picture of indigenous Southeast Asian business people as lacking in entrepreneurial skills, or more broadly of Southeast Asian nations as lacking in entrepreneurial values. Rather, the past history of these countries has resulted in a set of structures that militate against successful entrepreneurial activity. [ABSTRACT FROM AUTHOR]

In this paper, we provide an overview of the extant research on the development of entrepreneurship in China. This research focus is a relatively recent phenomenon since China’s market transition started from late 1978. We review the literature over the 26 years from 1980 through 2005, as published in 11 leading English-language academic journals. We identify 68 articles from this review and analyze them based on the research subjects, methods, and firm types. From this review, and integrating with research on market transitions, we propose a three-stage model of market transitions that has important implications for entrepreneurship research in transition economies. [ABSTRACT FROM AUTHOR]

This paper examines the work roles of public enterprise managers, the classifications of the work roles, and the importance of the work roles across hierarchical levels, functional speciality, business sector and the size of the organisation, based on Mintzberg's framework of managerial roles. The result showed that 105 managers ranked the role of entrepreneur as most important and the role of spokesman as most unimportant in performing their jobs. The principal component solution resulted in three Interpretable categories of work roles: internal roles; external roles, and internal-external roles. There were also variations in work role Importance across hierarchical levels, functional speciality, business sector and size of the organisation. Implications for further research and management practice are also presented. [ABSTRACT FROM AUTHOR]

Partnership under the form of joint-ventures and licensing agreements between a multinational company and a local entrepreneur has become a predominant mode of entry into growing markets of the developing world. This paper illustrates three major issues in the process of building partnerships in the international selling, namely, the strategic perspective of both parties, the selection of partners, and the negotiation of the partnership. Data for this study was drawn from an earlier investigation at the Euro-Asia Center of INSEAD. [ABSTRACT FROM AUTHOR]

Despite decades of effort, abject poverty remains a serious problem in many countries around the world. The effects of five approaches to poverty alleviation-foreign aid, microfinance, social entrepreneurship, base of the pyramid initiatives, and the establishment of property rights among the abjectly poor-are briefly reviewed. While each of these approaches has some benefits, none have fulfilled their promise of poverty alleviation. Ironically, as these efforts have gone forward, international industrialization has had a more significant impact on poverty alleviation in at least some countries. [ABSTRACT FROM AUTHOR]

Approximately 1.7 billion people in Asia live in poverty today. To date, efforts to address poverty in Asia have largely focused on subsistence entrepreneurship rather than on creating ventures that empower them to break out of poverty. That is, the mechanisms that have been used, such as microlending, generally lead entrepreneurs to create businesses providing basic life essentials rather than helping them build businesses that generate capital to improve the entrepreneur's standard of living. This article initially reviews what we know about entrepreneurship as a solution to poverty in Asia. We then examine what we know about other major tools to address poverty in Asia. Next, we propose a research agenda on poverty in Asia. Finally, we introduce the articles in this Special Issue of the Asia Pacific Journal of Management, 'Asia & Poverty: Closing the Great Divide through Entrepreneurship & Innovation,' on new approaches to entrepreneurship to help address the key issue of the alleviation of poverty. [ABSTRACT FROM AUTHOR]

We show how social ties and contractual factors shape the relationship between entrepreneurs and venture capitalists (VCs). While direct ties result in the VC offering more advice to the entrepreneur, indirect ties result in greater levels of disagreement between VC and entrepreneur. We also find that contractual favorableness is associated with more advice and less disagreement, but that contractual flexibility is surprisingly not significant. The results vary by area of advice and disagreement. Our results suggest that scholars and practitioners must integrate contractual and social network perspectives to better understand the VC-entrepreneur relationship. [ABSTRACT FROM AUTHOR]

From the perspective of social exchange theory, we explore the downside of social networking. In particular, we discuss the impact of network properties on cronyism. We identify two types of network, clique and entrepreneurial, and two forms of competition, inter- and intra-network. We argue that network competition generally increases the likelihood of cronyism, and the effect of competition on cronyism is moderated by network type. We outline directions for future research and derive practical implications. [ABSTRACT FROM AUTHOR]

While it stands to reason that serial entrepreneurs—individuals who have founded more than one new venture—should achieve higher levels of success than novices, to date researchers have found little support for this proposition. Is this rather perplexing result only limited to the developed countries in which most research has been conducted? Or is it indicative of a general phenomenon, and hence requesting the need for new theory? We explore these questions by testing the existing theory in two geographic regions in a rapidly emerging transition economy—China. Data from 440 Chinese entrepreneurial ventures suggest that experienced entrepreneurs are better at developing networks, and at managing organizations than novices, but like their counterparts in developed countries, do not necessarily achieve higher levels of venture performance. Implications for theory, as well as for entrepreneurship in the context of transition economies are addressed. [ABSTRACT FROM AUTHOR]

Retaining external investment is an important task for private firms. However, the entrepreneurial financing literature has primarily focused on how to attract, instead of retain, start-up funding. Integrating social embeddedness, signaling, and strategic choice theories, we propose that entrepreneurs' resource background, philanthropic, and innovative activities affect the exit speed of external investment for Chinese private ventures. In particular, we propose that external investment exits entrepreneurs with deprived resources faster than those more resourceful entrepreneurs. Yet, external investment stays longer when less resourceful entrepreneurs commit to innovative or philanthropic activities. [ABSTRACT FROM AUTHOR]

While the international entrepreneurship literature has begun to expand its scope to include the world's poorest and least-developed countries, it has not yet reached a consensus about how to conceptualize and measure the relevant cross-national differences that shape the wide range of entrepreneurial activities across the developing world. To address this gap, we explore the potential contribution of the multi-dimensional construct of "state fragility," as developed in related fields, as an orienting framework for developing-country entrepreneurship research. Instead of viewing all developing country states as universally weak, the state fragility construct provides a conceptual framework to identify which types of capabilities are weak, to which degree, and in what configuration, thus advancing efforts to systematically compare and contrast the wide diversity of entrepreneurial processes and outcomes found across the developing world. [ABSTRACT FROM AUTHOR]

Corporate entrepreneurship is becoming increasingly important for firms to gain competitiveness in the marketplace. Yet, insufficient knowledge has been accumulated on how to develop entrepreneurial behaviors within firms, specifically how firms are motivated to develop entrepreneurship and what managerial process facilitates the development process. Drawing on the literature of market orientation, human resource management (HRM) and corporate entrepreneurship, we propose a model in which the relationship between market orientation and corporate entrepreneurship is mediated by HRM strength, and hierarchical culture and competitive intensity moderate the relationship between HRM strength and corporate entrepreneurship. Using time-lagged matching survey data obtained from 97 CEOs, CFOs and also 220 employees in 97 Chinese companies, we show that HRM strength mediates the relationship between market orientation and corporate entrepreneurship, and that the relationship between HRM strength and corporate entrepreneurship is stronger when the organizational culture is more hierarchical and the competition is less intensified. Both theoretical and practical implications and limitations of the study are discussed. [ABSTRACT FROM AUTHOR]

Research has established the relevance of entrepreneurial orientation (EO) to firm performance but skepticism remains because of the ambiguity surrounding how EO might improve firm performance. We examine the key concepts of absorptive capacity and improvisation as two alternative learning modes serving as intermediate steps between EO and firm performance. Locating our study within manufacturing SMEs in Malaysia, we find that absorptive capacity enhances the EO-performance relationship, both as a moderator and a mediator. In contrast to expectations, however, improvisation showed no such effects but conferred its own separate benefits instead. We further discuss the different effects of these learning modes on high performance and low performance groups. [ABSTRACT FROM AUTHOR]

We consider whether the impact of entrepreneurial orientation on business performance is moderated by the company affiliation with business groups. Within business groups, we explore the trade-off between inter-firm insurance that enables risk-taking, and inefficient resource allocation. Risk-taking in group affiliated firms leads to higher performance, compared to independent firms, but the impact of proactivity is attenuated. Utilizing Indian data, we show that risk-taking may undermine rather than improve business performance, but this effect is not present in business groups. Proactivity enhances performance, but less so in business groups. Firms can also enhance performance by technological knowledge acquisition, but these effects are not significantly different for various ownership categories. [ABSTRACT FROM AUTHOR]

Who should a new venture ally with in order to enhance its internationalization capabilities? While peer relationships come easily and naturally for most new ventures, interactions with foreign multinational subsidiaries operating in their local environment are complex to build and to sustain. We contribute to the relational perspective of new venture internationalization by specifically contrasting the role of new venture ties with multinational enterprises (MNEs), from those with other peer firms. We draw on a multi-method study, integrating a quantitative study based on a survey of 102 software firms in India and a longitudinal case analysis of the relationship between an international new venture (INV) and an MNE (Microsoft). We find a positive relationship between local MNE ties and internationalization capability, and a negative relationship between ties with other small firms and internationalization capability. Our post-hoc analysis of the case study serves to shed further light on this, highlighting an important caveat to the relational capital story: building ties with MNEs is necessary but not sufficient for new ventures to internationalize; they require managerial action to exploit the knowledge acquired. [ABSTRACT FROM AUTHOR]

We present an in-depth case study of GVK Emergency Management and Research Institute, an Indian public-private partnership (PPP), which successfully brought emergency medical response to remote and urban settings. Drawing insights from the case, we investigate how the organization established itself through institutional entrepreneurship using a process conceptualized as opportunity framing, entrenchment, and propagation. The case and context highlight the need for innovation in organizational design and governance modes to create a new opportunity that connects state actors, private healthcare providers, and the public at large. We consider the role of open innovation and novel business models in creating these service platforms. The implications of our findings for the literature on PPPs, institutional entrepreneurship, inclusive and open innovation, and organizational design in base of the pyramid contexts are discussed. [ABSTRACT FROM AUTHOR]

We investigated the influence of economic and political institutions on the prevalence rate of formal and informal entrepreneurship across 18 countries in the Asia-Pacific region during the period 2001-2010. We found the quality of institutions to exercise a substantial influence on both formal and informal entrepreneurship. One standard-deviation increase in the quality of economic and political institutions could double the rates of formal entrepreneurship and halve the rates of informal entrepreneurship. The two types of institutions had a complementary effect on driving entry into formal entrepreneurship, whereas only direct effects were observed for informal entry. [ABSTRACT FROM AUTHOR]

Despite burgeoning research in international entrepreneurship (IE), very little is known about the processes of how entrepreneurs recognize and pursue opportunities in international markets. To provide an answer to this 'opportunity process gap,' we drew on the idea sets framework from the entrepreneurship literature to longitudinally examine a serial entrepreneur who achieved international market success with little industry-specific knowledge, networks, and resources. The research demonstrates the efficacy of the new approach as a lens and methodological framework to advance process-driven explanations and research in IE. These preliminary results reveal a new concept labeled here as opportunity portfolio processing, which involves discovery, creation, prototyping, pruning, and broadening of opportunity sets, that underpins the fundamental processes but not previously documented mechanisms in IE. Our study allowed us to induce a set of IE opportunity portfolio measures-volume, flow rate, novelty, magnitude, and geographical coverage-that offers an alternative framework for measuring and predicting IE performance. In developing the arguments, we present six findings including the role of prior history that, taken together, move us closer to an opportunity portfolio perspective in IE. [ABSTRACT FROM AUTHOR]

Successfully developing new products is critical to an entrepreneurial firm's continued success. Based on the resource management model, this study aims to answer the key research question: how entrepreneurial firms leverage network competence and technological capability to enhance their new product development (NPD) performance in a turbulent environment. Using data collected from 134 entrepreneurial firms in China, we investigate the performance effects of network competence and technological capability, and the moderating effects of technological turbulence and market turbulence. Our findings show that network competence has a positive impact on NPD performance and technological capability plays a mediating role between network competence and NPD performance. Technological turbulence enhances the performance effects of network competence and technological capability; market turbulence advances the performance effect of network competence, but fails to exert significant negative impact on that of technological capability. We discuss managerial implications of our findings and offer directions for future research. [ABSTRACT FROM AUTHOR]

Despite the important role of angel investors as critical financial providers for new ventures, little is known regarding how the institutions present in very different institutional environments impact their investment decisions. While angel investors might be expected to make decisions based on similar selection criteria, they are also embedded within and affected by different institutional settings in which they invest, and as a result they give these criteria weight that are different from those of other investors. We compare angel investors' selection criteria in China and Denmark utilizing a comparative institutional perspective. Utilizing a policy-capturing approach to understanding their decision criteria, we find that angel investors in China, embedded within relationship-based institutions, tend to rely more on strong ties such as family and friends in the management team. They also give risks less weight as compared with angel investors in Denmark, which operate within more rule-based institutional contexts. As with venture capitalists, angel investors modify their decision criteria to fit the local institutional conditions. [ABSTRACT FROM AUTHOR]

The current study draws upon the real option portfolio theory to examine the relationship between deregulation and corporate entrepreneurship. We propose that a firm could respond to deregulation with variance-enhancing corporate entrepreneurial activities (CEAs), which increase the portfolio value of real options to exploit the upside opportunities and constrain the downside loss. We develop two dimensions of CEAs-frequency and diversity-to capture the value of the option portfolio, and we propose that these two dimensions contribute to a company's long-term equity return and innovation performance. We test these arguments with 526 Chinese listed firms in five innovative industries from 2001 to 2005, and we find significant support for our hypotheses. Our empirical findings and the option portfolio approach carry important implications for entrepreneurship theory and policy. The CEA portfolio could be a useful tool to configure and allocate strategic investments proactively. [ABSTRACT FROM AUTHOR]

New ventures often encounter a strategic dilemma of whether to differentiate themselves from or to conform to other businesses in the industry. The present study joins this ongoing debate by asking the following question: How will organizational regulatory legitimacy and entrepreneurial orientation (EO) interactively impact new venture performance (NVP) in the context of emerging economies? Drawing on institutional theory, we developed competing hypotheses regarding the interactive impact of organizational regulatory legitimacy and EO on NVP. Employing a dataset of 116 entrepreneurial firms in China, results indicate that although organizational regulatory legitimacy and EO improve NVP independently, their interaction is negatively linked to performance. We derive several implications from these findings in an effort to guide future research. [ABSTRACT FROM AUTHOR]

Many Chinese family businesses face the dilemma of building good operating and governance structures and systems while fostering an entrepreneurial spirit across generations. In this study, we explored trans-generational entrepreneurship in Automatic Manufacturing Ltd. (AML), a Hong Kong SME, to shed light on this problem. The first generation founded the company and chose a unique development path that emphasized quality, innovation, and learning before grooming a cadre of professional managers. To continue the family entrepreneurial spirit, AML used the 'familiness' resources embodied within the family and its business to incubate the second generation. To test the wings of the second generation as entrepreneurs and then lure them back to AML to take over the responsibilities of the first generation, a unique succession plan nurturing spin-offs by the second generation was developed and implemented. Such a systematic approach, although still under experimentation, has the potential to become best practice for other family businesses. The implications of this approach for research in portfolio entrepreneurship and open innovation are also discussed. [ABSTRACT FROM AUTHOR]

Recent research has found an inverted U-shape relationship between entrepreneurial orientation (EO) and firm performance in the Chinese context. Building on Miles and Snow's (1978) strategy framework and Scott's (1995) country institutional profile, we propose that prospector and analyzer strategies align better with entrepreneurial orientation to allow firms to fully benefit from their risk-taking, proactiveness, and innovativeness. Data collected from 155 SMEs in China confirmed that prospector and analyzer strategies alleviated the curve significantly. The defender strategy enhanced the curvilinearity, yet this moderating effect was insignificant. Implications for policy-makers, international businesses, and entrepreneurial firms in China are discussed. [ABSTRACT FROM AUTHOR]

Why has the rate of entrepreneurship recently gone down in Singapore? Why is entrepreneurship in Southern China (e.g., Guangdong or Fujian provinces) relatively higher than in the rest of China? Why is corruption rampant in some Chinese business communities but virtually nonexistent in others? Although we often speak of 'Chinese entrepreneurship' as a monolithic entity, the fact is that there are many variants of Chinese entrepreneurship and these variants continue to rapidly evolve and take on new forms. Yet mainstream management or organizational theories have been at a loss to explain these high rates of variation and evolution. To shed light on these issues, we introduce the idea of symbiosis from biology and adapt it to the development of entrepreneurship in Chinese ethnic communities. Symbiosis is the science of how different organisms coexist with each other in a self-sustaining system. Using this approach, we develop six propositions to explain what types of entrepreneurship are likely to evolve in different Chinese ethnic communities and how this process of evolution is likely to proceed. The implications for researchers and practitioners are discussed. [ABSTRACT FROM AUTHOR]

This study takes an inductive approach in analyzing the roles played by the state, the market, and the social sector in indigenous entrepreneurship development. Data collected from six high-technology companies in China and Taiwan serve to broaden our prior knowledge on how the three institutions work collectively in nourishing indigenous firms at three stages of entrepreneurship development. At the start-up stage, the state influences a firm's entrepreneurial motivation by creating contexts, providing necessary financial resources, and setting up policy hurdles. At the growth stage, the social sector facilitates technology transfer to indigenous firms and protects them from lawsuits filed by multinational corporations. At the mature stage, the market allows multinational corporations to either enhance or destroy the technological capabilities of local firms. These findings provide strong theoretical and policy implications. [ABSTRACT FROM AUTHOR]

new venture is likely to be perceived as either an opportunity or a risk. People also vary in their subjective judgment of the probability of a new venture's success. From an affective approach, this study investigates how people's feelings about the outcomes of a venture affect their subjective judgment on the value and probability of founding a new business. It was found that an entrepreneur's hope of creating a successful new venture significantly increases the attractiveness and perceived success likelihood of the new venture. Those who show less fear of failure and lower surprise for the success tend to view a new venture as an opportunity. Those who show less anger, regret, and higher contempt of failure and lower surprise of success as well as lower trait sadness judge a higher subjective probability for the success of founding a new firm. These findings reveal entrepreneurs' initiatives in economic activities. Positive and negative implications are discussed, particularly for entrepreneurial activities in China. [ABSTRACT FROM AUTHOR]

ian economies display large evident differences in their entrepreneurial capabilities and performance. While existing explanations of these differences have largely focused on formal and informal background institutions, we instead emphasize differences in national stocks of venture forms. We suggest that alternate venture forms, because of their different governance characteristics, possess unique entrepreneurial capabilities and pursue distinct opportunities. Consequently, nations must possess a diverse and balanced stock of venture forms and have such forms engaged in the unique and complementary activities for which they are best suited. Viewed in this light, addressing national limitations in entrepreneurial performance requires changes in stocks of venture forms. In developing the policy implications of our analysis, we highlight the past successes and current development challenges of Japan, Korea, Singapore, Hong Kong, Taiwan, and mainland China. [ABSTRACT FROM AUTHOR]

The proliferation of transition economies provides a unique opportunity to study the formation and behavior of social and economic structures, and literature exploring these issues has grown dramatically in recent years. Sociologists have made important contributions to the study of transition, particularly to theories of organizations and organizational change in China. In this article, I provide a critical assessment of the state of sociological literature on the transition process. I take stock of research that studies the emergence of new organizational forms, the growth of entrepreneurship, and the development of markets in China. I conclude with suggestions for resolving central debates and otherwise extending the literature. [ABSTRACT FROM AUTHOR]

Many of the world’s firms have a familial dimension; including some of the most dynamic and emerging markets of East Asia. However, this important aspect of organizing economic activity remains understudied and misunderstood. A central theme of this article is that while families matter in economic activity throughout the world, they matter in different ways depending on the institutional context. To illustrate this theme a varieties of capitalism perspective is used to develop a rudimentary global comparative framework. Institutional context is portrayed as a key determinant of the degree and type of family governance that typify national economies. Implications for corporate governance and entrepreneurship in East Asia are discussed. [ABSTRACT FROM AUTHOR]

This article reviews the literature on venture capital in China and examines where China’s venture capital industry has been and where it is likely to go in the future. Since the 1980s, venture capital in China has grown steadily alongside the robust national economy. The future is likely to offer even greater opportunities, as entrepreneurs are encouraged and property rights improve. However, there will also be a period of transition as the market continues to mature and as new legal structures and commercial arrangements emerge. Venture capital in China has many interesting differences from that in Western countries. The venture capital industry is shaped by the institutional context and China is no exception to this. This article also examines some specific differences between the system in China and that of the United States. Future prospects for venture capital are also appraised as China continues its transition to a market economy. [ABSTRACT FROM AUTHOR]

This article examines the characteristics of Overseas Chinese firms and explores the proposition that the characteristics of these firms that have reportedly promoted success in slower growth sectors may actually limit success in the faster growth sectors. Characteristics that can accommodate rapid growth are factors such as decentralized organizational structures, transparent corporate governance, and acceptance of outside capital that requires the ceding of ownership and control. Yet it is unclear if Overseas Chinese entrepreneurial firms are willing to depart from traditional practices and adopt structures that facilitate the fast growth expected by venture capitalists, outside investors, and government officials.

Explores the links between information and entrepreneurial-type action, and action and performance. Importance of information received from networks for entrepreneurs; Details of a study on the topic.

Explores the underlying institutional frameworks of business strategy. Dynamic interaction between institution, organizations and strategic choices; Nature of supplier strategies; Factors influencing entrepreneurial strategies; Strategies for diversification; Growth strategies of firms.