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Given that replication studies are important for theory building, theory testing, knowledge accumulation, and domain legitimacy, we attempted to replicate 19 seminal studies of new venture emergence that used PSED-type data; only six attempts were successful. Our humbling experience highlights how changes at the author, journal, and institutional levels—indeed, a communal effort—can encourage, facilitate, and expedite replication studies. We provide entrepreneurship scholars with ten best practices for conducting replication studies, as well as recommendations to other stakeholders to steer away from the replication "crisis" plaguing other research domains. As they say, it takes a village. [ABSTRACT FROM AUTHOR]

The strategy focus of over 2500 new ventures across six different industries was examined to identify what dimensions coalesce into distinct configurations. The supposition that traditional strategy typologies are inadequate to describe the breadth of differentiation exhibited among new ventures was supported. Factor and cluster analysis revealed six generic new venture strategy archetypes that can be distinguished along two dimensions;scope of segmentation, and product vs. marketing emphasis. The extent to which the archetypes tend to dominate in different industries was found to vary according to the industry's position on the industry supply chain. Strategies with a narrow scope of segmentation tended to prevail in industries near the end of the supply chain, whereas those that adopted a broad approach tended to predominate in industries near the beginning or middle of the supply chain. [ABSTRACT FROM AUTHOR]

There are a number of ways to determine the birth date of a new firm. These include the date of a start-up venture's initial transactions, initial registry listing, initial labor input, and initial profits. Utilizing the responses from the second Panel Study of Entrepreneurial Dynamics (PSED) cohort, it appears that different criteria for a firm's birth date are associated with substantial differences in the proportion of start-ups that became new firms, the time required to become a new firm, survival following a new firm birth, and the provision of new jobs. This variation may help explain some inconsistent research findings related to firm births. [ABSTRACT FROM AUTHOR]

Several charts are presented depicting decision tree interactive models of business for independent variable excluding start-up activity involving infrastructure, planning and promotion.

Several charts are presented depicting the decision tree interactive models of business for independent variables involving active start-ups, profits and time to quits.

The article presents an evaluation on the impact of various activities of new business enterprises on the result of business development procedure.

The article reports on activities affecting the outcomes of new business enterprises.

The article presents a multi-variate analysis on the identification of critical factors of new business enterprises.

The article reports on the evaluation of proportional effect of activities by new business enterprises.

The article reports on the initiation and prevalence of activities by new business enterprises as well as its provision of overview for its review.

The article offers an overview of the process of new business enterprises along with ventures.

Globally, hundreds of millions enter the firm creation process every year. About a third will actually develop a profitable new firm. Understanding how these successful efforts reach initial profits has been a major challenge for entrepreneurial scholars. A recently developed research protocol has involved systematic collection of data on the startup activities of representative samples of nascent ventures and tracking their outcomes; a number of Panel Study of Entrepreneurial Dynamics [PSED] projects have been completed. Assembling data from five PSED cohorts in four countries has allowed for attention to the effect of start-up activities on the outcomes of a harmonized sample of 2,500 nascent ventures. There is no difference in outcomes related to the gender of the nascent entrepreneur, a small effect associated with age, and modest impacts associated with educational attainment, work history, and expeiience with other start-up initiatives. There is a systematic countiy effect, the U.S. has a lower proportion of profitable new firms than Australia, China, or Sweden. Many aspects of the start-up effort are related to the outcomes. A greater range of start-up activities early in the start-up process is associated with profitability, less terminations, and fewer with a long tenure in the start-up process. Activities emphasizing promotion of the nascent venture, assembling a firm infrastructure, and implementing a production process are associated with initial profitability and fewer terminations. Business planning inci eases the tendency to quit and reduces the proportion active in the start-up process, ft may reduce the time to reach disengagement. Imp. ementing of promotion, infrastructure development, and establishing a production process also reduces the time to reach initial profits. The results have implications for both aspiring entrepreneurs and policy development. [ABSTRACT FROM AUTHOR]

An introduction to the journal is presented in which the author discusses business creation, new business enterprises and factor analysis.

Why are some entrepreneurs able to start a new firm more quickly than others in the venture creation process? Drawing on pecking order and agency theory, this study investigates how start-up capital structure influences the time to either new firm founding or quitting the start-up process. The temporal aspect of the start-up process is one that is often discussed, but rarely studied. Therefore, we utilize competing risk and Cox regression event history analysis on a nationally representative sample of US entrepreneurs to investigate how start-up capital structure impacts the time in gestation to particular kinds of start-up outcomes. Our findings suggest that external equity has an appreciable impact on new firm emergence over time, and that the percentage of ownership held by the founders attenuates the benefits of external equity. [ABSTRACT FROM AUTHOR]

Several charts are presented depicting the inter-correlation between start-up activities involving promotion, capital assets and investment.

The article discusses the role of national characteristics on the success of business enterprises creation. Overview of the elements that comprised in national attributes or institutional characteristics and how they influence decisions regarding business development is provided. Discussion of the benefits of encouraging individuals to develop innovative ways to contribute to the economy through business creation is provided.

The article discusses the concept of the temporal stability as one of the strategies for assessing temporal consistency of business enterprises creation in countries. It provides two tables that illustrate the temporal stability of the countries surveyed. It also mentions the variation in prevalence rate within the Global Entrepreneurship Monitor (GEM) countries

The article discusses the short term implications of the Global Entrepreneurship Monitor (GEM) assessment that determines the factors that contribute the success of business creation. Emphasis on the result of the assessment, which indicates the wide range of national institutions and other features that will likely to change in the short term, is provided. Suggestion on the importance for countries to understand the values and the increases in the amount of business creation is offered.

The article discusses the elements that represent the characteristics of national features. A review of the nature of the indicators and their rational for inclusion of the national characteristics is provided. The relationship and inter-relation of the national characteristics for the success of business creation is offered.

The article discusses the relationship between national values and the wide range of other features and institutions for the success of business creation. Discussion of how national values served as a summary of the orientations of individual citizens toward their countries and personal conduct in the economy is provided. Emphasis on the factors that determine the level of economic inequality, which reflects the wide distribution of the total annual income in an inclusive economy, is offered.

The article analyzes the role of national values in determining the preparedness of individuals to participate in business creation. Discussion of the impact of national values which goes beyond the influence of basic personal characteristics such as gender, age, and educational attainment is provided. Overview of the two value dimensions that reflect two different aspects of participation in society is also emphasized.

The article discusses the national factors that account for the high level of stability in participation of business creation. Analysis on the association of such factors in the development of businesses, as well as the traditional and self-expression values that are needed to establish good opportunities, is provided. Overview of the result of the assessment of the temporal stability in the World Values Survey project conducted in four countries Argentina, Japan, and Mexico is offered.

The article analyses the factors that affect the readiness of entrepreneurs to set up new business enterprises. Discussions of the intervening processes that affect the development of businesses including opportunities, confidence in the skill to implement the firm, and others involved in business creation, is provided. Emphasis on the importance of readiness for entrepreneurship as the most important factor in predicting individual participation of a new firm is offered.

The article discusses the relationship between national factors and the level of stability of the prevalence of business development. Discussion of the association between national characteristics and the level of business creation, and the intervening processes that relies on attention to measures of individual activity, is provided. Emphasis on the important role of both individual and contextual factors on the outcome of business creation is offered.

The article discusses the national factors that provide independent contributions to predicting the level of creation of new business enterprises. Overview of the models developed to predict the prevalence of nascent entrepreneurs is offered. Discussion of the national characteristics associated with the presence of new firm owners and the four factors that are present in both the equal weight and population weight models associated with new business is provided.

The article discusses the role of population capacity on the decision of an individual regarding the creation of new business enterprises. The nine national characteristics that reflect the capacity of businessmen to involve in the development of new firms which is divided into four categories is mentioned. Discussion of how such characteristics affect business activities and new firms is offered.

The article discusses the role of the government in business activities and the creation of new firms. Overview of how regulations and procedures adopted by the government to manage business and their economic activities is provided. Information of the inclusion of the seven measures on the role of the government which impact business activities in the assessment of new firm creation is offered.

The article discusses the impact of business enterprises creation on subsequent economic growth. Discussion of the relationship between business enterprises and economic development based on the assessment by the by the Global Entrepreneurship Monitor (GEM) project is provided. Overview of how business creation mediates factors between emerging technologies, new productive processes and the creation of new markets is emphasized.

The article discusses the national variations in the development of new business enterprises. The findings of the Global Entrepreneurship Monitor (GEM) program which offers information on the individual participation in business creation is provided. Information on the diversity of business creation in 93 countries and the important factors needed for the successful development is offered.

An introduction is presented in which the editor discusses various reports published within the issue including the role national characteristics on decisions to participate in firm creation, the factors that affect individual readiness for entrepreneurship, and the attributes in firm creation.

The article discusses the relationship between economic development and business creation. Overview of the result of the assessment by the Global Entrepreneurship Monitor (GEM) project which observes 36 European countries to explore their association is provided. Information on the significant relations between economic development and the creation of business enterprises is emphasized.

Chapter 3 of the book "Entrepreneurship in Developing Economies: The Bottom Billions and Business Creation," by Paul D. Reynolds is presented. It explores the two life stages associated with business creation including pre profit stage and stage of producing initial profits. It highlights the differences in individuals and ventures related with the two stages of the firm life course.

Chapter 6 of the book "Entrepreneurship in Developing Economies: The Bottom Billions and Business Creation," by Paul D. Reynolds is presented. It explores the association between job creation and economic growth. It highlights the economic role of nascent entrepreneurs and new firm owners in job creation process. The positive effect of new business on jobs is depicted with the help of charts, tables and graphs.

Our research investigates how state-sponsored social protection is associated with undertaking the initial steps to start businesses in knowledge-intensive sectors. We define social protection as policies to protect individuals against economic risk. Although research generally shows a negative link between coordinated market economies and business creation, we highlight conditions when social protection may actually have positive consequences on entrepreneurial action. Specifically, these policies can encourage individuals to develop specific skills, which can be used by those who start businesses to pursue opportunities in knowledge-intensive sectors. Findings from a cross-national sample of individuals starting businesses in 16 advanced industrialized countries are consistent with this claim. We also find that educational attainment moderates this positive direct relationship. Our study is one of the first that provides new explanations for how welfare states can actually promote certain types of entrepreneurial action in highly coordinated economies by orienting their economic activity toward a system of highly skilled and productive labor. [ABSTRACT FROM AUTHOR]

An appendix is presented of the business creation prevalence rates by country.

Chapter 8 of the book "New Firm Creation: A Global Assessment of National, Contextual, and Individual Factors," by Paul D. Reynolds is presented. It provides an overview of the assessment which focuses on identifying factors associated with variations in business creation. It suggests that measures reflecting individual attributes or readiness for entrepreneurship and the immediate individual context have the highest associations with measures of business creation.

An appendix is presented of the 25 characteristics used in the linear additive models developed to predict the prevalence of 23 types of business creation activity.

Chapter 7 of the book "New Firm Creation: A Global Assessment of National, Contextual, and Individual Factors," by Paul D. Reynolds is presented. It discusses the national attributes of the respondent and the features of their immediate social context. It presents an analysis which aims to develop information about the factors associated with individual decisions to participate in business creation.

Chapter 9 of the book "New Firm Creation: A Global Assessment of National, Contextual, and Individual Factors," by Paul D. Reynolds is presented. It indicates that many high potential new firms develop a strong growth trajectory, and the ongoing competitive threat encourages existing firms to be responsive to changes in customer preferences. It suggests that the most effective way to prepare young adults for the option of business creation is through programs in the educational system.

Chapter 6 of the book "New Firm Creation: A Global Assessment of National, Contextual, and Individual Factors," by Paul D. Reynolds is presented. It outlines strategies for classifying countries such as considering the level of economic development. It shows that the three European region share many features such as fewer small businesses and a lack of personal readiness for entrepreneurship. It reveals that the high income Asian countries showed low levels of business creation.

The use of human population surveys to estimate the prevalence of nascent entrepreneurs has become a major feature of both longitudinal studies of the firm creation process, such as the US Panel Studies of Entrepreneurial Dynamics (PSED) research program, as well as cross-national comparisons, as reflected in the Global Entrepreneurship Monitor (GEM) initiative. The basic procedure has been to use interview screening items to locate individuals that may be considered candidate nascent entrepreneurs; other criteria are then used to identify those considered active nascent entrepreneurs. In these human population surveys, little attention has been paid to the potential impact of variations in wording in the initial screening items, either across time in the same language or in different languages, on the final prevalence rates. Analysis of 134 independent samples in the US over the 1993–2006 period, where different screening items were employed, indicates a major impact of item wording. Once adjustments to account for item variation were made, there was no statistically significant change in the prevalence of active nascent entrepreneurs, from 5 to 6 per 100 over the 1998–2006 period. This pattern of temporal stability is consistent with three other national programs measuring U.S. new firm creation activity. [ABSTRACT FROM AUTHOR]

The first US Panel Study of Entrepreneurial Dynamics [PSED I] is the most comprehensive assessment of the firm creation process yet completed. Based on a representative sample of those actively involved in business creation, analysis begins with the consideration of 75 factors that may affect the decision of adults to get involved in the creation of a new business, followed by a detailed exploration of over 130 factors that may be associated with completing the start-up process with a new firm. The results indicate, first, that over ten million persons are involved in the firm start-up phase as nascent entrepreneurs. Second, the major factors associated with entry into the start-up process have little impact on completion of the process with an operating business. Third, activities pursued in the start-up process - not the characteristics of the entrepreneur, the start-up, or the location - have a major impacts on the transition from start-up to a successful new firm. There is little impact associated with being male; being White, Black or Hispanic; having more education; being wealthy; having experience with other start-ups; having an ‘entrepreneurial personality’; or being in a supportive environment. This project demonstrates the value of tracking a representative sample of nascent entrepreneurs with a longitudinal study. Implications for future research, entrepreneurs, and public policy are substantial. [ABSTRACT FROM AUTHOR]

This is the acceptance speech by Paul D. Reynolds upon receiving the 2004 International Award for Entrepreneurship and Small Business Research. The award is sponsored by the Swedish Foundation for Small Business Research (FSF) and the Swedish Business Development Agency (NUTEK). In this speech Reynolds reflects on his contribution to entrepreneurship research. [ABSTRACT FROM AUTHOR]

Based upon two strands of literature, this paper hypothesizes a U-shaped relationship between a country’s rate of entrepreneurial dynamics and its level of economic development. This would imply a different scope for entrepreneurship policy across subsequent stages of development. Regressing global entrepreneurship (GEM) 2002 data for nascent entrepreneurship in 36 countries on the level of economic development as measured either by per capita income or by an index for innovative capacity, we find support for a U-shaped relationship. The results suggest that a ‘natural rate’ of nascent entrepreneurship is to some extent governed by ‘laws’ related to the level of economic development. For the most advanced nations, improving incentive structures for business start-ups and promoting the commercial exploitation of scientific findings offer the most promising approach for public policy. Developing nations, however, may be better off pursuing the exploitation of scale economies, fostering foreign direct investment and promoting management education. [ABSTRACT FROM AUTHOR]

The Panel Study of Entrepreneurial Dynamics (PSED) is the first national database to offer systematic, reliable and generalizable data on the process of new business formation. This report provides an overview of the PSED research design and an overview of the information contained in the database. Results of analyses of data from the SCREENER, a sample of 64,622 individuals surveyed about their entrepreneurial activities, indicate that over 10.1 million individuals are actively engaged in starting new businesses in the United States. All categories of individuals by gender, age, and ethnicity are involved in entrepreneurship.

This study examined informal investment in the 29 nations that participated in the Global Entrepreneurship Monitor (GEM) study in 2001. Investment was tabulated by gender, age of investor and amount invested for the 29 nations combined. Prevalence of opportunity-pull entrepreneurship was correlated with informal investment, entrepreneurial capacity, and perception of start-up opportunities in a subset of 18 GEM nations. In contrast, necessity-push entrepreneurship had no significant correlation with those same variables. [ABSTRACT FROM AUTHOR]

Sociological perspectives and research provide important and distinctive contributions to the understanding of entrepreneurship in three ways. The first is through the development of societal conceptions regarding productive activities that encompass the entrepreneurial role or function. The major alternatives emphasize socioeconomic systems as (a) moving toward an equilibrium (reflecting a broad consensus) or (b) reflecting the outcome of class competition (emphasizing conflict resolution). Both assume the Inevitable dominance of massive productive organizations. These conceptions have recently been supplemented with attention to the dual nature of advanced economies or the benefits of flexible specialization. The second is through attention to specific societal characteristics affecting entrepreneurship: modernization; the role of the state in economic development; variations in the scope and nature of the unregistered (underground) economy; and the character of organizational populations and their ecological niche as they affect new firm foundings. The third Is through attention to the impact of social context on the decisions of Individuals to pursue entrepreneurial options. This includes attention to the individual's life course stage; social networks and embeddedness; ethnicity; and work experiences. [ABSTRACT FROM AUTHOR]

Knowledge of the timing and sequence of start-up teams' delegation of business functions in growing entrepreneurial ventures has significant implications for understanding those ventures' need for human resource development (HRD) interventions at different stages of their development. As a first step in exploring the evolution of functional differentiation in growing ventures, we analyze the extent to which 539 new businesses delegate a number of business functions. The start-up teams retain the marketing and marketing related functions (marketing, sales, advertising, pricing and bidding, and new product development) in the majority of all firms with less than $10 million in sales. This group of functions ranks second only to general planning as a function retained. Three major size groups of emerging small businesses with distinctly different levels of functional delegation have been identified. There was no difference in the patterns of delegation of functions between manufacturing and service firms. [ABSTRACT FROM AUTHOR]

Examines the involvement of new and small firms in expanding markets. Substantial and expanding role for new and small firms in the global economy; Substantial differences between sectors; Upsizing and downsizing; Role of firm size and age in economic growth.