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Although small and medium-sized enterprises (SMEs) play a vital role in countries' entrepreneurship and export activities, their lack of financial assets and human resources makes them more vulnerable to difficult-to-control external risks, including financial, legal, and market risks. Since the exposure to these risks might reduce their willingness to export, SMEs' risk management capabilities included in the dynamic capabilities of Resource-based View (RBV) might enable them to reduce their exporting concerns and stimulate their entrepreneurial spirit. In this regard, this paper purposes to investigate the impacts of financial, legal, and market risk management capabilities on export intentions of SMEs. The effects of risk management capabilities on the export intention of SMEs might differ depending on the countries where SMEs operate because locally specific government bureaucracy, documentation, standards, regulations, and cultural values make companies face various circumstances that might differently affect their management of multiple risk factors and export entrepreneurship. Thus, this paper also aims to determine whether the effects of risk management capabilities on the export intention of SMEs differ depending on their country of origin. In line with the research aims, this paper employs the Binary Logistic Regression Test to analyze 1221 SMEs in various countries. The results indicate that while financial risk management does not have any significant impacts on the export intention of SMEs, the effects of legal and market risk management on export intention differ depending on SMEs' country of origin. This paper explains the reasons for those results by the institutional factors. [ABSTRACT FROM AUTHOR]

Research and policy on sustainable development (SD) and entrepreneurial ecosystems (EE), the most prevalent policy to enhance entrepreneurship, has increased dramatically in the last 20 years; in particular. Yet, as this paper shows, their relationship is unknown to date. We aim to answer if and how entrepreneurial ecosystems foster sustainable development. To this purpose, we develop a framework linking EE and SD integrating existing models and suggestions for further research and policymaking. Theoretically, we draw on three different disciplines and four distinct theories to propose how and why EE impact SD. Methodologically, we suggest system dynamics as the most appropriate method for theoretical modeling and empirical analysis. Policywise, we suggest how and why policy needs a new approach to leverage EE to enhance SD. [ABSTRACT FROM AUTHOR]

The paper aims to systematically review the literature that empirically investigates the relationship between feminisms and entrepreneurship. Feminisms, meant as movements, cultures, collective identities embedded with values and beliefs, could indeed contribute to challenge patriarchal gender norms that dominate the entrepreneurial world, so allowing new forms and narratives of business to emerge. To achieve the paper goal, a systematic literature review protocol is developed and the most prominent scientific research databases are queried. After a bibliometric framing of the retrieved papers, content analysis is adopted to identify the theoretical and methodological approaches, relevant topics and research gaps. Despite a considerable inhomogeneity in definitions, topics, and theoretical framings, the study shows that most papers agree on recognizing the crucial role of feminisms in: (i) women's entrepreneurial empowerment, especially in traditionally male-dominated cultural and geographical contexts and (ii) challenging the neoliberal paradigm. The study also inductively derives a definition of feminist entrepreneur, proposing an ontology that illustrates its relationship to the concepts of entrepreneurship, feminism and entrepreneurial feminist. From a managerial perspective, the study highlights similarities and differences among heterogeneous entrepreneurial experiences, thus unveiling feminist entrepreneurship features potentially useful for policy makers, educators, and practitioners. On the societal level, the research contributes to spreading knowledge about a phenomenon arguably disruptive in enhancing the inclusiveness of traditional entrepreneurial ecosystems. [ABSTRACT FROM AUTHOR]

Entrepreneurship is one of the business forces with the greatest power to transform today's society, due to its ability to discover and take advantage of new opportunities to satisfy customer new and changing needs and expectations. Customer relationship management (CRM) has proved to be both a highly influential business management strategy and a powerful business management technology solution, with a particularly relevant impact in the area of entrepreneurship. CRM has helped drive growth and future expectations and has had excellent results in terms of return on investment wherever it has been implemented. An exhaustive review of previously published findings in a specific subject area can uncover new lines of research. This paper uses semi-systematic review to the study of the reality of the link between CRM and entrepreneurial marketing in business. This approach is used to comprehensively describe the state of the art of the impact that CRM can have in the modern business environment, through the empowerment of entrepreneurial marketing. In a structured manner, the present paper reviews the 86 most relevant studies of how CRM affects entrepreneurial marketing policy development through its alignment with relationship marketing and customer-centric business models. The growing use of CRM in companies is one of the pillars of technological and social change in entrepreneurship, being a clear example of how big data can benefit society. The study focuses on the period from 2015 to 2019. [ABSTRACT FROM AUTHOR]

Entrepreneurship is one of the factors that receiving attention in recent decades due to its role in achieving certain economic objectives, such as employment and economic growth. For this reason, understanding the factors that stimulate it to design policy measures for enhancing entrepreneurial activity is relevant. One way to identify these factors is to consider the essential elements that make up entrepreneurship, namely, innovation, autonomy, and opportunities. From this perspective, digitalization, institutions, credit, and the economic environment are considered factors that stimulate entrepreneurship. The objective of this paper is to analyse the relationship between digitalization and entrepreneurship, while also considering the variables that can affect digitalization. Basically, in periods of crisis and expansion, these variables include the cultural factor and credit policy, and they are used to consider two economic situations: the expansive phase (or the prepandemic period of 2018–2019), and the crisis phase (or the pandemic period of 2020–2021). To achieve this objective, a theoretical and empirical analysis is conducted on 16 European countries using the partial least squares (PLS) method. [ABSTRACT FROM AUTHOR]

This paper analyzes the effect of digital marketing and cluster membership on the entrepreneurship and performance of dental clinics in Colombia. The use of different digital marketing tools in dental clinics is evaluated, and the effect of these tools on the creation of new markets, and clinics' services and general performance, are analyzed. In addition, the cluster effect on the learning and implementation of digital tools in individual clinics is studied. The results show the most effective digital tools to create new markets, as well as the tools that improve clinics' performance through the Internet image and online visibility. The combined use of corporate Facebook and Instagram, a robust website with wide online visibility and YouTube develops the image of companies on the Internet in the most effective way. In addition, the importance of belonging to a cluster in the learning and implementation of digital tools in individual clinics was verified. [ABSTRACT FROM AUTHOR]

High-quality development has recently become an inevitable requirement for sustainable and healthy economic development in China, which pursues a sustainable ecology and a happy society for people while developing economy. Entrepreneurship is believed to be the essence of enterprise and one of the important factors of social economic development. This paper uses triple bottom line of sustainable development to measure high-quality economic development and studies the mutual influences between entrepreneurship and triple bottom line of sustainable development. Furthermore, this paper uses three moderating variables to study the moderation effect, including business environmental index, environmental regulation and foreign direct investment. The empirical results show that there exists a close relationship between entrepreneurship and triple bottom line of sustainable development. There are different influences of entrepreneurship and triple bottom line of sustainable development in different areas in China. The results also show that the business environment and foreign direct investment not only have direct impacts but also moderation effects on entrepreneurship towards triple bottom line of sustainable development. Environmental regulation affects environmental pollution only by the moderation effect towards entrepreneurship, and the effects are different in various areas. [ABSTRACT FROM AUTHOR]

Sport entrepreneurship is progressively emerging as an extremely significant stream of research. Accordingly, scholars are increasingly assessing how sportspeople tend to have higher entrepreneurial orientation and intentions than the average. In a similar fashion, scholars have also observed how sport-related entrepreneurial ventures can have a positive effect on community development. Nonetheless, this literature stream is still fragmented, lacks a proper systematization, and needs an identification of its intellectual structure and research themes. Hereby, we performed a bibliometric analysis of 86 papers and a systematic literature review on the most influential papers belonging to the pertinent literature. Results show that a 4-cluster structure exists for sport entrepreneurship: its theoretical definitions and internal factors fostering it (cluster 1), environmental factors may foster it (cluster 2), pedagogical approaches and education (cluster 3), and finally its impacts, especially in terms of community development and social benefits (cluster 4). From these findings, a framework to help both scholars and practitioners approaching the topic was developed. [ABSTRACT FROM AUTHOR]

While research on knowledge management in entrepreneurial organizations has been the subject of much scholarly attention, it has mostly been considered independently rather than in institutional, geographical or industrial contexts. The purpose of this special issue is to integrate the role of context with knowledge management research, and to discuss the subsequent implications for entrepreneurship. This paper draws on the knowledge spillover theory of entrepreneurship, open innovation theory and the institutional perspective to knowledge management in entrepreneurial organizations, It does so in order to measure returns to investment in knowledge and knowledge spillovers across various industries and levels of economic activity (individual, firm, industry, university, region). Future research suggestions from the papers included in the special journal issue are also discussed and explained. [ABSTRACT FROM AUTHOR]

One of the main concerns of entrepreneurs is obtaining finance to launch their projects. In this sense, this study aims to analyse the relationship between entrepreneurship and different sources of finance, considering the type of entrepreneurship, gender, and the country. To achieve this purpose, entrepreneurship has been distinguished by gender and type of entrepreneurship (necessity and opportunity entrepreneurship), using data from the Global Entrepreneurship Monitor (GEM) as a reference. Sources of finance were divided into conventional (bank) financing and alternative financing (microfinance and cooperatives). Countries were divided into developed and developing countries according to the classification proposed by the International Monetary Fund (IMF). We worked with 66 countries (17 developed and 49 developing) for which information was obtained for 2007–2019. Using fixed effect panel data models, the results show how microfinance and cooperativism have a positive impact, especially on female entrepreneurship by opportunity in developing countries. In the case of cooperativism, there is a direct and clear relationship between female entrepreneurship, regardless of whether driven by necessity or opportunity, and region. Conventional financing is generally unfavourable to female entrepreneurship but favours male opportunity entrepreneurship. This paper makes recommendations to authorities to create an appropriate framework to encourage these sources of finance for entrepreneurship, given their particular positive impact and benefit in developing regions. [ABSTRACT FROM AUTHOR]

Innovative women entrepreneurs undoubtedly represent an under investigated research area within entrepreneurship research to date. This paper fits into this scantly explored stream of research, enriching the academic discussion by analyzing how innovative women entrepreneurs deal with issues typically associated to "traditional" women entrepreneurs. In doing so, a literature review and an analysis of in-depth semi-structured interviews, conducted in the time period 2022–2023 on a sample of 10 Italian innovative women entrepreneurs who were selected using purposive sampling, have been carried out in order to provide an overview of the features that characterize such entrepreneurs. Results show some interesting aspects in which innovative women entrepreneurs differ, at least in part, from women entrepreneurs involved in traditional sectors. Firstly, all the interviewed women have been pulled, rather than pushed, into entrepreneurship; secondly, the interviewed entrepreneurs do not perceive the high workload as something that can interfere with family responsibilities, but as a means of satisfaction and personal fulfilment. Finally, the majority of the interviewed women entrepreneurs were able to raise money by means of public funds, business angels, or specific competitions. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to identify covariates with publication activity, a form of knowledge transfer, from SBIR publicly funded research. The paper offers an argument about the policy relevance of studying knowledge transfers from publicly funded research that occurs in private sector firms. Relevant explanatory variables are the length of the funded research project, university involvement in the project, the firm's history of SBIR funding, and the academic background of firms' founders. [ABSTRACT FROM AUTHOR]

Research on knowledge spillovers (KS) has each been the subject of much scholarly attention, but has mostly been considered independently rather than in combination with each other important issue - strategic entrepreneurship (SE). The purpose of this special issue is to integrate these two approaches and to develop theory in addition to empirically investigate the phenomenon inspiring future research on the topic. This paper draws on the knowledge spillover-based strategic entrepreneurship in a multilevel context, examines the logic of the approach, and introduces the special issue by summarizing the papers contributions. Future research suggestions from the papers included in the special journal issue are also discussed and explained. [ABSTRACT FROM AUTHOR]

This paper assesses the ways in which the characteristics of entrepreneurs from transition economies, and the extent to which they participate in making business decisions, affect their propensity to make rational/risky decisions in a work environment. A multicontextual analysis of entrepreneurial decision-making is provided, facilitating a better understanding and the further advancement of entrepreneurship in the transition countries of Montenegro and Serbia. Logistic regression and a Structural Equation Model (SEM) were used to assess data collected from a stratified random sample of 260 entrepreneurs. The results reveal that the demographic characteristics of entrepreneurs have a significant impact on their propensity to make rational/risky decisions. Elderly entrepreneurs with more years of service are more prone to make rational decisions in comparison to younger entrepreneurs, who lack business experience and thus rely on intuition, leading to risky decision-making. Additionally, the results show that the more involved entrepreneurs are in the decision-making process, the more risky decisions will be made; while more employee inclusion leads to business decisions based on rational thinking. The results also reveal that entrepreneurs in transition economies have formed attitudes towards the nature of entrepreneurial activity. Finally, these results reveal that entrepreneurs who consider levels of economic development, national culture, and intuition to be important when making business decisions are more prone to implement risky decisions. Considering the obtained results, this paper provides guidelines for the future research of this issue in transition countries and other developing economies. [ABSTRACT FROM AUTHOR]

Female entrepreneurship to date represents a key component of the business sector worldwide as, in 2012 more than 187 million out of 400 million entrepreneurs were women (Global Entrepreneurship Monitor 2013). In academia the gender factor in entrepreneurship emerged in the late 1970s Schwartz (Journal of Contemporary Business, 5(1), 47-76, 1976) and especially since the beginning of the new millennium a substantial growth in the investigation of this topic has been registered. Thus, the time has come to systematize the academic progress on this issue and to reflect on future research directions in order to gain deeper insights into the female entrepreneurship domain. In this vein, our paper aims to enrich the conversation on female entrepreneurship by reviewing 248 papers published in the last 14 years. In doing so, we identify and analyze the new insights that have emerged in the literature from both a managerial and a sociological perspective, thus responding to the numerous calls for a more interdisciplinary approach to the study of this topic. [ABSTRACT FROM AUTHOR]

The paper investigates factors affecting the creation of innovative startups—that is, new enterprises that produce, develop, and commercialize innovative goods or services of high technological value. Analyzing data on Italian provinces, the paper studies whether and how the birth rate of innovative startups is affected by the following characteristics of the local context: local density of universities and research centers, the education level of the local population, and the number of incubators in the area. In addition, the study tries to identify whether the impact of these contextual factors varies when firms are created by entrepreneurs that have peculiar demographic characteristics—i.e., that are female, young, or foreign-born. Hypotheses are tested through a multiple regression analysis that uses as the dependent variable innovative startup birth rates at provincial level, calculated using data regarding the 8264 innovative startups created in Italy between 2015 and 2018 in 105 Italian provinces. Results regarding the overall sample of innovative startups show that the innovative startups birth rate is positively related to education level and to the number of incubators in the area. However, the study highlights that differences in the demographic characteristics of the entrepreneurs correspond to a different relevance of the local contextual factors investigated in fostering innovative startup creation. [ABSTRACT FROM AUTHOR]

Although the concept of smart cities has been largely discussed in the literature for over almost three decades, there is still a need to better understand the entrepreneurial aspects surrounding smart cities. This study aims to explore the evolutionary trends of research in the field of Smart Cities, and specifically, to unveil the entrepreneurial aspects prevailing in the literature. With the support of bibliometric analysis and social network analysis tools this paper identifies the foundations and most active areas on smart cities research over the past 20 years. It also scrutinizes and highlights the entrepreneurial aspects prevailing in the smart cities body of knowledge. It provides a critique of the current state-of–the-art of entrepreneurial research in the smart cities future research directions by analyzing the collaboration among the authors and the relation between the knowledge creation and the impact of its results. [ABSTRACT FROM AUTHOR]

Entrepreneurship is vital for economic growth and development, as it fosters innovation, creates jobs, and enhances competition and competitiveness. At the same time, in contemporary society, where the Internet has assumed the role of the primary instrument for both communication and commerce, effective utilisation of vast amounts of data has become imperative for businesses, especially in the entrepreneurial environment. To identify the main connections in two of the currently most trending concepts in business, we undertook a systematic literature review focusing on Big Data, entrepreneurship, and their interconnections in business management through 301 research documents. While numerous studies have already delved individually into Big Data and entrepreneurship, the interconnection between these concepts still has research potential. Our results reflect a growing interest in leading research on these topics, with specific leading authors and countries. Furthermore, we show and discuss a conceptual map consisting of five clusters, unveiling interesting connections such as the impact of blockchain on firms, the correlation between Big Data and firm performance, the role of data science, and the significance of Big Data analytics for operational performance. The article ends by examining how Big Data and entrepreneurship change the business landscape. While entrepreneurs use data for decision-making, innovation, and tailored customer experiences, there are lingering concerns such as data security and privacy. The future of business and innovation will depend, in part, on the crossroads between entrepreneurs and Big Data technologies. [ABSTRACT FROM AUTHOR]

Systematic literature reviews are an increasingly used review methodology to synthesize the existing body of literature in a field. However, editors complain about a high number of desk rejections because of a lack in quality. Poorly developed review articles are not published because of a perceived lack of contribution to the field. Our article supports authors of standalone papers and graduate students in the Entrepreneurship domain to write contribution-focused systematic reviews e.g. by providing a concrete guideline. Our article analyzes the strengths and weaknesses of a systematic literature review and how they can be overcome. Furthermore, we provide a combined list of highly ranked journals in the Entrepreneurship domain as a basis for quality appraisal. Finally, this article builds a scenario for the future of the systematic literature review methodology and shows how technological improvements have changed this methodology and what can be achieved in the future. [ABSTRACT FROM AUTHOR]

The tourism sector is a sector with many opportunities for business development. Entrepreneurship in this sector promotes economic growth and job creation. Knowing how entrepreneurial intention develops facilitates its transformation into entrepreneurial behaviour. Entrepreneurial behaviour can adopt a causal logic, an effectual logic or a combination of both. Considering the causal logic, decision-making is done through prediction. In this way, entrepreneurs try to increase their market share by planning strategies and analysing possible deviations from their plans. Previous literature studies causal entrepreneurial behaviour, as well as variables such as creative innovation, proactive decisions and entrepreneurship training when the entrepreneur has already created his or her firm. However, there is an obvious gap at a stage prior to the start of entrepreneurial activity when the entrepreneurial intention is formed. This paper analyses how creativity, proactivity, entrepreneurship education and the propensity for causal behaviour influence entrepreneurial intentions. To achieve the research objective, we analysed a sample of 464 undergraduate tourism students from two universities in southern Spain. We used SmartPLS 3 software to apply a structural equation methodology to the measurement model composed of nine hypotheses. The results show, among other relationships, that causal propensity, entrepreneurship learning programmes and proactivity are antecedents of entrepreneurial intentions. These findings have implications for theory, as they fill a gap in the field of entrepreneurial intentions. Considering propensity towards causal behaviour before setting up the firm is unprecedented. Furthermore, the results of this study have practical implications for the design of public education policies and the promotion of business creation in the tourism sector. These policies should promote causal, proactive and creative behaviour in their entrepreneurship training. In this way, such policies would boost the entrepreneurial intention of individuals, which is an essential element to business creation. [ABSTRACT FROM AUTHOR]

According to Johns Hopkins University, by December 2020, more than 78 million SARS-COV-2 (Covid-19) cases have been reported with more than 1.7 million deaths, out of which more than 300 thousand were in the U.S. alone. No country on earth has been untouched by the preemptive creation of a global recession to combat a global disease. Covid-19 has disrupted supply chains, consumption patterns, and business models in a multitude of industries which include a large share of small and medium enterprises (SMEs). SMEs account for the largest share of employment in market-based economies so any discussion of the economic impact of Covid-19 is incomplete without the SME sector. The purpose of this paper is to explore a systems perspective of the Covid-19 pandemic using the absorptive capacity construct. [ABSTRACT FROM AUTHOR]

The aim of this paper is to explore the relationship between the literature on family firms and actual movements in economic policy and activity. We argue that economic policy changes accordingly to changes in family firms-related literature and employ an econometric analysis to test the assumed association. The outcomes of empirical analysis indicate, as we expected, that an effect of discussions related to family firms in the literature on economic activity indeed exists. The findings would help us have a better understanding of the patterns in the family firms-related literature, and strongly contribute to the policymakers' perception on family firms. Furthermore, this work also makes an important contribution to the field of entrepreneurship and practitioners. More to the point, entrepreneurs could implement the best entrepreneurship activities at the suitable time by sensing the changes in the family firms-related literature. [ABSTRACT FROM AUTHOR]

To advance understanding of informal sector entrepreneurship, the aim of this paper is to evaluate and explain the cross-country variations in the prevalence of informal sector competitors. To do so, World Bank Enterprise Survey (WBES) data is reported from 142 countries. This reveals that 27% of formal enterprises view competition from the informal sector as a major constraint on their operations, although this varies from 72% of formal enterprises in Chad to no formal enterprises in El Salvador. To explain these cross-country variations, four competing theories are evaluated which variously view informal sector entrepreneurship and enterprise to be more prevalent when there is either: economic under-development (modernisation theory); high taxes and state over-interference (neo-liberal theory); too little state intervention (political economy theory), or an asymmetry between the laws and regulations of formal institutions and the unwritten socially shared rules of informal institutions (institutional theory). A multilevel probit regression analysis confirms the modernisation and institutional theories, but not the neo-liberal and political theories. Beyond economic under-development, therefore, it is not too much or too little state intervention that is associated with the prevalence of informal sector competition but rather, whether the laws and regulations developed by governments are in symmetry with the norms, values and beliefs of entrepreneurs. The paper concludes by discussing the theoretical and policy implications of these findings. [ABSTRACT FROM AUTHOR]

Credit identification is one of core issues of financing process. Enterprise credit involves a lot of financial and non-financial measures, among which entrepreneurship is an important but rarely mentioned variable. Good entrepreneur credit often leads to good enterprise credit. A comprehensive analysis of enterprise credit identification is important to avoid losses, foster excellent enterprise and make the optimal allocation of resources. The existing literature mainly studied the impact of entrepreneurship on enterprise credit from the perspective of historical information, which is about average and tendency. Hence, those models were unable to explain the function of complex human nature and, consequently, linear models are unable to well describe the relationship between enterprise credit and entrepreneur credit. Given the deficiency of parametric models when discussing the impact of entrepreneur credit, a non parametric approach are proposed to individually describe the impact path of different individuals. This paper established a decision tree based on nonparametric approach to verify the practicability of the model in the evaluation of enterprise credit recognition. In the end of this paper, we demonstrate the validity of the non parametric model and the validation method of it. [ABSTRACT FROM AUTHOR]

From 2021 onwards, female entrepreneurship is expected to grow very substantially as a result of the Covid-19 pandemic. The introduction of teleworking and staggered hours in many countries at national or workplace level will make possible the conciliation between labour and family life. The purpose of this paper is to identify the most influential explanatory factors in the behaviour of female entrepreneurship in Europe so as to subsequently propose efficient economic policy measures to promote it. The distinction between opportunity and necessity female entrepreneurs have been considered since both motivation and factors are different in each case. 15 econometric models using the panel data method for a sample of 20 previously selected European countries (grouped by their GDP level) during the period 2001 to 2018 have been estimated to determine which explanatory factors affect female entrepreneurship and necessity-based female entrepreneurship. The empirical analysis used demonstrates that more women enter into entrepreneurship due to necessity rather than in pursuit of opportunity for European countries both with higher levels of GDP and for countries with lower levels of GDP. In this context, the following policy measures should be implemented to promote female entrepreneurship in Europe: the optimization of government spending (training courses and mentoring, public procurement, stronger networks, support in reconciling business and family life, etc.), the government incentives for subsidizing high interest rates to support women in accessing financing, and the improvement of entrepreneurship education to increase the confidence of women in themselves in their own entrepreneurial capabilities. [ABSTRACT FROM AUTHOR]

In this paper cultural values and regulatory barriers to start-up are presented as characteristics of the business environment which influence the international differences in the level of entrepreneurial activity. A first objective of this paper is to measure the importance of a country's cultural values in determining the national level of entrepreneurial activity, calculated by the Total Entrepreneurial Activity rate from the Global Entrepreneurship Monitor. Culture is studied using Schwartz's value structure (Schwartz ). This allows for the differentiating of seven cultural orientations that are then arranged around three bipolar dimensions: Autonomy- Embeddedness, Egalitarianism-Hierarchy and Harmony-Mastery. The paper also studies the effect of regulatory barriers for business start-ups on the Total Entrepreneurial Activity in different countries. Regulatory barriers are determined using data from the 'Doing Business' project of the World Bank. The role of cultural values and regulatory barriers in entrepreneurial activity is tested using data from 56 countries and Structural Equation Modeling. The paper shows that cultural values and regulatory barriers are not related to entrepreneurship in the same way in countries with differing levels of development. On the contrary, the strength and nature of the influence of both factors on entrepreneurial activity depends on a country's per capita GDP. Furthermore, the impact of regulatory barriers on entrepreneurship is moderated by cultural values. Thus, the discouraging effect of the regulatory barriers on entrepreneurial activity is more important in those countries with a societal culture characterized by autonomy, egalitarianism and harmony values. [ABSTRACT FROM AUTHOR]

Firms that aim to compete globally have to invest in knowledge and have to use knowledge returns to increase their competitive advantage. This paper extends our understanding of returns to knowledge investment by focusing on innovative training and skills in entrepreneurial organizations and incumbents, as well as the role of legal protection in further investment in knowledge. Using novel innovation data for a panel of 4049 firms in the UK, this paper estimates the training premium for the country's most innovative firms. Returns on training vary between start-ups and incumbents and during economically-constrained times. Specifically, the study highlights evidence for higher returns on training during times of crisis and lower returns before the crisis. In filling a gap in the calculation of returns to investment in knowledge creation within organization, the study advances our understanding on how entrepreneurial firms need to invest in training and skills to increase innovation outcomes. [ABSTRACT FROM AUTHOR]

The premise of this paper is that a basis for firms receiving Small Business Innovation Research (SBIR) research awards to develop commercializable technologies is not only their proposed creative ideas but also their endowment of attendant knowledge necessary to develop the technology being proposed. Based on this premise, we propose that those firms that have higher growth rates attributable to their SBIR awards are also those firms that are more creative and have more knowledge endowments. Empirically, we quantify a firms creativity and its sources of research knowledge in terms of its past experiences, and we find that firms with more technical experience and sector experience are those that have realized higher growth rates from their SBIR-funded research. [ABSTRACT FROM AUTHOR]

Entrepreneurship research has matured and now spans multiple entrepreneurial contexts, including developing countries, emerging and transitional economies. However, collectivist economies have largely been ignored, partly due to difficulties in conducting research and partly due to the widespread assumption that they remain on the outskirts of entrepreneurial activity. In this paper, from the entrepreneurial event model perspective, we analyse entrepreneurial intention and its antecedents in Cuba, probably the best example of a collectivist economy that exists nowadays. Cuba is compared to Spain, a country that shares historical and cultural features but one which has a developed market economy. Findings indicate that desirability and feasibility constitute the main antecedents of entrepreneurial intention in Cuba, as other studies in market economy countries reflect. However, the influence of desirability on entrepreneurial intention is lower in Cuba compared to Spain, where the values of desirability and feasibility are significantly greater. These results seem to indicate that due to Cuba's level of development, political regime and collectivist culture, entrepreneurship arises mainly out of necessity and the emergence of a strong entrepreneurial culture is stifled. This reflects a similar situation to the result obtained in previous studies in developing countries. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to examine the impact of macro-institutional and macro-non-institutional factors on the new venture creation time across emerging as well as developed economies in Europe using panel data from 2003 to 2006 in 15 emerging and developed countries. This paper finds significant relationships between the venture start-up time and institutional factors that include lending interest rates, start-up procedures, and taxation and one non-institutional factor, GDP per capita. Additionally, we found differences in the factors between emerging and developed countries. Institutional factors, such as start-up procedures and trade opportunities, are important determinants of new venture creation time in emerging countries, consistent with the findings of recent studies. To encourage business formation, policy makers may need to revise policies concerning these factors which can facilitate or restrict new venture formation. Implications for further research and practice are discussed. [ABSTRACT FROM AUTHOR]

This paper examines how the value of entrepreneurship by gender is related to regional behaviour. Researchers have traditionally defined entrepreneurial organization as separate to gender and to economic growth. Using the Global Entrepreneurship Monitor (GEM) we complete a dataset of 50 countries using variables such as total early-stage entrepreneurial activity (TEA) and opportunity-driven entrepreneurial activity (OPP). The methodology used proposes an analysis of regional convergence, comparing the evolution over time of both the rate of entrepreneurial activity and the ratios of opportunity-driven and need-driven entrepreneurial activity, distinguishing by gender. On the other hand, a regression model is proposed that explains the greater presence of female entrepreneurship. The results show that entrepreneurship by gender is an important factor to define different cluster of countries according to how men and women entrepreneurs create new economic opportunities. [ABSTRACT FROM AUTHOR]

The paper proposes an analysis of entrepreneurial intentions in the equine sector in Romania and the identification of the variables influencing economic growth in this field. The equine sector plays a strategic role in the development of durable, sustainable and social entrepreneurship. The combination of equine services can ensure a business's survival during a crisis, and businesses involving horses can be considered complex. The equine sector is constantly changing: it is affected by politics, the social environment and new competitors. Changing customer requirements make it a difficult area in which to develop a sustainable start-up ecosystem. The present study is important in drawing attention to the main impediments faced by Romanian entrepreneurs in the development of the equine sector, a sector which—because of the emotional and physical benefits that horses offer—has great potential. The horse industry needs true "enthusiastic entrepreneurs" who have the management knowledge and skills to make their business more professional and profitable. It was found that the firm's organisation method is an important factor in predicting business continuity, in achieving medium- and long-term objectives, and in ensuring business success. [ABSTRACT FROM AUTHOR]

Necessity entrepreneurship has been much debated in research and policy. This paper examines the impact of necessity as a start-up motive on subsequent entrepreneurial satisfaction. Empirically, the paper is based on a sample of 777 recently established Finnish micro enterprises. The results show that necessity entrepreneurs are somewhat more likely to want to switch back to paid employment later in their entrepreneurial careers. However, if the individual earns a satisfactory livelihood through self-employment, the negative effect of a necessity-based start-up on subsequent entrepreneurial satisfaction diminishes. Training in business skills that helps necessity entrepreneurs to run an economically viable business might thus increase their satisfaction with being self-employed. [ABSTRACT FROM AUTHOR]

Metaverse is the latest concept that uses the concept of virtual reality, augmented reality, artificial intelligence, and blockchain to create a virtual world. Users can interact in the metaverse through special VR handsets and gadgets. This creates a whole new world of opportunities for young entrepreneurs to take advantage of this new digital space. However, since the metaverse is still in its development phase, it is time to prepare new standards and policies for the development of sustainable entrepreneurship practices in the metaverse. In this context, we analyze the new business models that are developing for the metaverse. We also analyze the current literature to understand the future requirements of sustainable entrepreneurship in the metaverse. We also present some observations that will help the new researchers to understand the research topic. [ABSTRACT FROM AUTHOR]

This study describes the locational factors that are most valuable and useful to immigrant entrepreneurs in the Bay Area, which is also referred to as Silicon Valley in this paper. Silicon Valley is the world's leading entrepreneurial and technological ecosystem. As such, it attracts thousands of entrepreneurs with outstanding technical skills and talent from all over the world. Through enduring leadership, Silicon Valley is able to set the pace of entrepreneurship, and the trends that emerge in this ecosystem rapidly spread to establish themselves as rules almost everywhere. Silicon Valley's appeal to foreign entrepreneurs is based on their hopes of finding investors and markets to scale up their companies. The goal of this study is to identify the locational factors of Silicon Valley that are most valued by immigrant entrepreneurs and to classify and rank the factors that are most closely linked to the successful performance of new ventures founded by immigrant entrepreneurs. Empirical analysis was conducted in 2014 through personal interviews with 54 new ventures that were founded or co-founded by Spanish entrepreneurs in the Bay Area. A follow-up was performed in 2019 to track their performance. This sample is representative of the population of new ventures founded by Spanish entrepreneurs in the Bay Area. Eight top-ranked locational factors cited in the literature were included in the analysis model, together with variables related to the personal profile of the founding team and the markets served by the companies under analysis. After just five years (2014–2019), almost half of the companies had failed. Around 30% remained active but were failing to meet expectations, and only 12 of the 54 companies could be deemed fully successful. Qualitative comparative analysis (QCA) reveals some locational factors as necessary conditions: the capacity to rapidly build a solid network of investors, firms, and other stakeholders; and the unique nature of the Bay Area market, which is especially conducive to testing new products, business models, and technologies. The findings contribute to the literature on entrepreneurial ecosystems by providing new evidence of the resources and locational factors that are most valued by immigrant entrepreneurs in top entrepreneurial hubs. Several managerial implications follow directly from the findings. These implications include a ranking of the environmental factors that appeal most to immigrant entrepreneurs running high-growth new ventures, together with the conditions to which they are indifferent. This study also provides valuable clues and guidelines for policymakers to enhance their entrepreneurial hubs and make them more attractive. The principal limitation of this study is the coverage of the empirical analysis, which was based only on entrepreneurs from Spain. The intention is to expand the data set in future research by including immigrant entrepreneurs from other regions, starting with Latin American countries. [ABSTRACT FROM AUTHOR]

This paper explores spatial and temporal contexts for entrepreneurship at both the regional and country level in Spain during three different periods from 2002 to 2018. Using institutional data, we find significant differences in the conditions influencing new firm formation rates by regions. Such variations in firm formation rates are mainly explained by unemployment and economic stagnation in the presence of high population density before and during the economic crisis periods. However, human capital greatly determines entrepreneurship starting in 2015. This study illustrates how a contextualized view of entrepreneurship contributes to our understanding of this phenomenon. As a result, our work enriches our understanding of the dynamic socioeconomic drivers motivating entrepreneurial action. [ABSTRACT FROM AUTHOR]

The entrepreneurial motivation is a previous and indispensable step to the act of starting a company. This paper aims to find the factors that determine the motivation of university students in business degrees to become an entrepreneur. To that end, based on different models developed to explain the causes of entrepreneurship, a final model to complete these factors is proposed. This model develops the effect of curricular impacts, extracurricular and the environment in entrepreneurial motivation. It also distinguishes between impacts and expectations, assuming that the latter not only influences motivation but also generates actions. A survey to a sample of 971 students was used for the empirical study. It has been confirmed that expectations, intrinsic needs and preparation and training are the factors that most influence entrepreneurial motivation. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to analyse the effect of knowledge resources stemming from the founding team's human capital and the access to external sources of knowledge available at or near the NTBF's inception on the venture's short- and long-term performance. Whether innovation is a vehicle through which knowledge resources have an impact on results is also studied. While previous studies have often focused on one dimension of performance, we cover complementary indicators of short-term performance (i.e., foreign market performance, total market performance and superior financial outcomes) and one indicator of long-term performance (TBF survival). Thus, the current research contributes to a wider understanding of the effect of knowledge resources at or near a venture's inception and innovation on the performance of NTBFs. A sample consisting of 175 Spanish NTBFs allows these relationships to be analysed. Results indicate that NTBFs' knowledge resources available at or near inception are of relevance to firms' innovations and to different dimensions of performance. Several knowledge resources have different positive and negative effects on different dimensions of short- and long-term performance, so those that can be good at one stage of a NTBF's life cycle can be bad at others times (e.g., founding teams with more members in the early years of the NTBF may be positive for the results, but in the long term, fewer people is better). Innovation mediates the effect of some knowledge resources on total market performance. [ABSTRACT FROM AUTHOR]

The aim of this paper is to analyse the determinants of survival in entrepreneurship in Spain. For this purpose, a binary choice model is specified and estimated, using information from the Continuous Working Life Sample drawn from the Spanish social security records. This database provides information on the work experience of entrepreneurs, which is used to differentiate between necessity and opportunity entrepreneurs. Thus, we analyse whether necessity entrepreneurs differ from opportunity entrepreneurs in terms of survival. Moreover, through the Blinder-Oaxaca decomposition for nonlinear models, proposed by Yun (2004), the key factors affecting necessity and opportunity entrepreneurs are analysed. This methodology allows us to measure the difference in probability between both groups and to look further into the causes of this difference, through the unobservable component and the characteristics component. Observable factors indicate that there is a positive difference in survival probability in favour of opportunity entrepreneurs. Unobservable factors are not significant. [ABSTRACT FROM AUTHOR]

The Republic of Korea undertook a major initiative in the early 1970s to integrate high-technology industry with its regional development strategy. This effort involved three phases: the development of science towns in the 1970s, the initiation of a technopolis program in the 1980s, and the establishment of science parks or technoparks in the 1990s. We focus on the third phase in this paper, and we identify empirically covariates with the employment growth of Korean technoparks. We find faster employment growth in parks established after the ICT revolution in 2000, in parks with tenants involved in more complex technology development, and in parks with more research-intensive tenants. [ABSTRACT FROM AUTHOR]

Entrepreneurship, together with national cultural values, may improve a country’s GDP levels. Under this hypothesis, the aim of this paper is to analyse the relationships between the levels of entrepreneurship, cultural values, and of GDP per capita in a sample of 27 developed countries, by identifying an efficient combination of culture and entrepreneurship variables, under the concept of efficient entrepreneurial culture, that maximises GDP per capita. Through the application of Data Envelopment Analysis (DEA) methodology, nine countries have been identified as having an efficient entrepreneurial culture. The implications derived for policy-makers are substantial, since a better understanding of cultural effects on entrepreneurship can lead to improvements in the design of governmental programmes that foster cultural values related to high-quality entrepreneurship. [ABSTRACT FROM AUTHOR]

Entrepreneurial migration from/in emerging economies, as grand societal and humanitarian challenges that we currently face, underscores the need for scholarly research. In our role as social science researchers, this special issue aimed to stimulate scholars from different social science fields to rethink more broadly about the opportunities for making an impact with our research focus on entrepreneurial migration from/in emerging economies. This article provides an overview of the theoretical, empirical, managerial, and policy implications of entrepreneurial migrants from/in emerging economies research. It puts forward key concepts and measures, explores the relations within the current broader literature on migration and entrepreneurship, and identifies several gaps that represent future research questions. We also introduce eight papers in a special section of this issue, which offer answers to critical gaps and questioning some taboos/stereotypes related entrepreneurial migrants. We conclude by outlining an agenda for engaging the academic community to extend research on entrepreneurial migrants from/in emerging economies. It is the perfect time to "make a difference" through our research, teaching, and interaction with multiple socioeconomic agents to constitute impacts that "endorse a real transformation" for supporting the migrants' community. [ABSTRACT FROM AUTHOR]

The paper examines several refugee experiences in Mexico and presents their reasons for leaving their home countries. A gap in research is identifying the entrepreneurial process experienced by refugee entrepreneurs. We use the case study of 10 Latin American refugees in Mexico to propose a conceptual framework that describes the entrepreneurial process of refugee entrepreneurs. We have found that this process begins with the abandonment of the country of origin, followed by the traumatic experiences that caused flight and the difficulties they face in the pilgrimage to the host country. These events help shape the entrepreneurial intention of the refugees. [ABSTRACT FROM AUTHOR]

This paper investigates the impact of human and political capitals of entrepreneurs on enterprise performance in four emerging nations.The rent generation potential of these capitals is a well established fact, however, much less is known concerning the contingent nature of their value creation prowess. In this work, we draw on institutional theory and dynamic managerial capabilities perspective to examine the interactive effect of country of origin economic developement level and the international experience of entrepreurs, on the capitals, with respect to a set of financial indicators. Employing a quantitative methodology, our findings reveal that the relationship between the capitals and enterprise performance are indeeed contingent with the capitals of home-grown entrepreneurs, rather than those of returnee migrant entrepreneurs, exhibiting a greater propensity to influence enterprise performance. We conclude with implications for theory and practice. [ABSTRACT FROM AUTHOR]

This paper explores the building of entrepreneurial capital from an entrepreneurship and contextual/institutional position. In taking this position, it is possible to understand 'entrepreneurial capital' as the content of the process that unfolds when individuals are exposed to certain characteristics of the environment. Drawing on findings from an ethnographically inspired longitudinal case study, the paper identifies the various actions attributed to entrepreneuring actors. Using the context of Poland as an illustrative case, the paper traces a variety of entrepreneuring accounts which appear to define entrepreneurial capital. This in turn provides a preliminary theoretical framework for the nature and the key elements of entrepreneurial capital. The study indicates that entrepreneurial capital is relationally and contextually constituted. The findings draw attention to the value of entrepreneurial capital in the context of an organizational and institutional change process that (1) involves the active creation Lachmann (Organization Studies 31: 219-244, ) of entrepreneuring actors within an organizational and societal context, (2) creates beneficial and supportive conditions that incorporate internal (organizational, personality) and external (environmental) resources for entrepreneuring, and (3) is facilitated by the entrepreneuring process. Finally, implications for entrepreneurship inquiry are drawn. [ABSTRACT FROM AUTHOR]

This paper is motivated by the movement of foreign-born entrepreneurs out of ethnic enclaves and into the mainstream, globally-connected economies of the countries of immigration, and from necessity to opportunity entrepreneurship. The theoretical contribution of the paper is to integrate the emerging literature on foreign-born entrepreneurship with work on the composition and impact of founding teams. Empirically, we draw on original quantitative and qualitative data on the U.S. high-tech sector. We find that homophily drives team formation and that nationality diversity in founding teams has a modest impact on firm performance. [ABSTRACT FROM AUTHOR]

This paper explores the nature and determinants of product innovation in small businesses from a survey of more than 1,500 small firms in Spain. Two levels of factors affecting innovation are considered: (1) The personal characteristics of the entrepreneurs -their age, motivations, educational background and degree of interpersonal trust. (2) The characteristics of the organizations' management-cooperation, risk taking, proactivity and specific innovation and growth policies. The paper shows that the factors explaining the firms' decisions to introduce small incremental innovations -and the strength of these influences- are different, to a large extent, from those favoring substantial product innovations. [ABSTRACT FROM AUTHOR]

This paper examines the socioeconomical forces influencing entrepreneurial activity at both the regional and country level in Spain during the period from 2000 to 2017. Using institutional data, we find significant differences in new firm formation rates by regions. Such variations in firm birth rates are mainly explained by economic growth, unemployment, establishment size, and human capital. Moreover, human capital greatly determines the effect of research and development investment on new firm formation rates. As a result, our work enriches our knowledge of the socioeconomical drivers motivating entrepreneurial action. [ABSTRACT FROM AUTHOR]

Entrepreneurial ecosystems are increasingly gaining traction as influential mechanisms that can enable entrepreneurial behaviour. In this regard, much work has been done with ambition to describe their key attributes and allay how we can successfully engage in their construction. As beneficial as contributions are, the discipline is at a point of inflection. A necessity exists to develop a strong theoretical base to ensure future work remains coherent and systematically consistent. The current paper attempts to begin the much-needed theoretical groundwork through focusing on one core aspect of the entrepreneurial ecosystem; culture. As a collective commonality of perspective towards how entrepreneurship is experienced and understood, culture has a lot to offer both in terms of theoretical and practical input. With this, a multi-level framework is introduced based on the concept of "cultural entrepreneurial ecosystem services" that embrace the dynamic interplay of various cultural ecosystem components. The framework developed has been designed to parsimoniously organise, clearly communicate, and efficiently capture, these services and their derived benefits. [ABSTRACT FROM AUTHOR]

Open innovation practices have been found to positively affect innovation and entrepreneurship due to the complementarities and uniqueness of resources and knowledge provided by each organization. Today, this approach may be even more important in the so called "smart cities", where different private and public stakeholders cooperate to co-design and co-develop new cutting edge products and services aimed to create shared value through entrepreneurial behaviors. However, concrete examples of smart city projects revealed that public governments often do not have the necessary capabilities as well as innovative approaches to collaborate with companies and other stakeholders' ecosystems. So, this paper aims at analyzing (open) innovation in public governments shedding lights on the barriers and challenges that public governments face in smart city development. The study uses primary data gathered through interviews from multiple smart city stakeholders to highlight how public governments should operate in the smart city context to overcome barriers and challenges, and to favor an entrepreneurial and innovation ecosystem as well as public-private collaborations. These barriers are related to: lack of rules; as all the others tasks and responsibility; scarce integrated view of the city planning; lack of fit of administrative styles & interdepartmental coordination and communication; risk adversity; data availability; disincentives & non flexible public procurement rules; lack of resources; lack of technological capabilities. Moreover, the study provides contributions for different and interrelated streams of research, in particular developing several implications in the field of entrepreneurship and smart city. [ABSTRACT FROM AUTHOR]