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PurposeThe purpose of this paper is to offer a unique perspective on the role of entrepreneurs’ hard work for the relationship between entrepreneur human capital and venture success. To this end, this study examined whether entrepreneurs with high human capital work harder than entrepreneurs with low human capital, the effect of entrepreneurs’ hard work on venture performance, and whether entrepreneurs’ hard work mediates the relationship between entrepreneur human capital and venture performance.Design/methodology/approachIn this explorative study, the role of entrepreneurs’ hard work as a mediator that transfers entrepreneur human capital into venture success was examined in a sample of 2,648 single-founder startups in the USA and 21,184 observations during the period of 2004-2011.FindingsThe effect of entrepreneurs’ industry experience on entrepreneurs’ hard work was significantly positive, while the effect of entrepreneurs’ general education on entrepreneurs’ hard work was significantly negative. Moreover, entrepreneurs’ hard work was a significant predictor of venture success. Finally, the results showed that entrepreneurs’ hard work partially mediates the positive relationship between entrepreneurs’ industry experience and venture success.Originality/valueOn one hand, the link between human capital and firm performance has been studied thoroughly and findings so far support the positive link between them. On the other hand, there has been continuous criticism that human capital gained much of its attention at the expense of human labor. There is a paucity of research, however, that investigating the dynamics of the relationships between human capital and human labor. This study provides an empirical explanation of such dynamics of the relationships of human characteristics in the context of entrepreneurship.

Country-level contexts can be important drivers that explain cross-national differences in individuals’ social entrepreneurship decisions. The purpose of this study is to contribute to the understa...

While firms’ search for new knowledge has been investigated mostly for large enterprises, there is a lack of empirical research to examine knowledge search strategy by small and medium enterprises (SMEs). This study seeks to fill this gap in the innovation literature by examining differences in knowledge search strategy by SMEs. Drawing on a survey data obtained from 3,175 SMEs, we used cluster analysis to identify groups of SMEs that pursue homogenous knowledge search strategy. The study results shed insights about how SMEs should develop knowledge search strategy and technological dynamism to proactively harness the benefits of knowledge search.

Despite much interest in the characteristics of entrepreneurs and their impact on venture performance or survival of start-ups, the relationship between such entrepreneur characteristics and successful venture exit has largely been unexplored. This paper explores the impact of the entrepreneur’s pre-entry industry experience, general education, and post-entry labor on entrepreneurial exit. We distinguish closing down of a venture from the termination of business because of a merger or acquisition (M&A). Examining the tracking data of the exiting U.S. start-ups launched in 2004, this study found that it was not the human capital but the labor of the entrepreneur that helped realize a successful entrepreneurial exit. The result suggests that although the entrepreneur’s human capital is known to affect his/her decision on exit strategies, the actual successful exit of a start-up is primarily due to hard-working characteristics of the entrepreneur.

The aim of this study is to provide a theoretical framework concerning how firms exert isomorphic pressures to survive and thrive in the existing market. In addition to the institutional strategies (Lawrence, 1999), the authors clarify the relationship among isomorphic pressures from firms, the value of firm resources, and sustainable competitive advantage. For this purpose, this paper reviews institutional isomorphism and relevant theories like resource based view, transaction cost theory, and resource dependency theory. It then provides propositions based on theoretical reviews and inferences. Firms are expected to strengthen their resources by exerting various isomorphic pressures: coercive, mimetic, and normative. Therefore, they are more likely to beat competitors even in the existing markets. The implications are discussed at the end of the paper. First of all, this study provides an extension to the horizon of institutionalization strategies by providing an additional viewpoint. In addition, it enlightens the importance of firm strategies based on corporal isomorphic pressures. Practitioners are recommended to consider their firms¡¯ ability to conform other stakeholders as a significant strategic asset.

This study investigates the nature of the relationship between cultural leadership ideals and social entrepreneurship. Specifically, this study argues that culturally endorsed leadership ideals, su...

While open innovation has gained much attention, few studies have examined this perspective in the context of small and medium enterprises (SMEs). The motivation of this study is to fill this gap by examining SMEs' strategic approaches toward inbound open innovation and in-house R&D. Drawing on a sample of 3,175 SMEs in South Korea, we used cluster analysis to identify groups of SMEs pursuing homogenous innovation strategies. We also examined the effect of SMEs' innovation strategies on financial performance. The results of this study shed insights about how SMEs should develop innovation strategy to improve financial performance.

The purpose of this study is to investigate the critical success factors of platform leadership in the Web 2.0 based service business environment. Because of the lack of theoretical foundation for this topic, we adopted relevant theory and case study analyses. Representative Web 2.0 firms which have developed platform leadership were chosen and analyzed on the basis of previous research on platform strategy through spider web analysis. This study shows that Web 2.0 firms such as Google, Flickr, and Salesforce.com differ in their competitive capabilities for platform leadership. The result of this research suggests that platform leadership in the Web 2.0 era depends on five interdependent dimensions: innovation ability, connectivity, complementarities, efficiency, and network effects.

This study examines the relationship between the between-firm and within- firm values of corporate social responsibility and corporate financial performance over time. The between-firm value of cor...