Francie Lange,
Francie Lange
Institution:
Email:
Lukas Hesse,
Lukas Hesse
Institution:
Email:
Dominik K. Kanbach,
Dominik K. Kanbach
Institution:
Email:
Sascha Kraus
Sascha Kraus
Institution:
Email:
Purpose
Literature on entrepreneurial resourcefulness (ER) has grown constantly in the last two decades. ER is a construct that describes the specific behavior of entrepreneurs, focusing on the generation and deployment of resources to pursue an opportunity. Since the ER literature has expanded an...
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Purpose
Literature on entrepreneurial resourcefulness (ER) has grown constantly in the last two decades. ER is a construct that describes the specific behavior of entrepreneurs, focusing on the generation and deployment of resources to pursue an opportunity. Since the ER literature has expanded and diversified, the purpose of this study is to integrate its findings with existing knowledge about the construct.
Design/methodology/approach
The study applies a systematic literature review approach, following the methodology of Tranfield et al. (2003). The authors identify and synthesize 31 studies focusing on ER.
Findings
The literature on ER can function on four different levels: (1) individual, (2) organizational, (3) contextual, and (4) effectual level. Studies on ER concentrate on either the individual or the organizational level, with the contextual and effectual levels appearing as additional study categories for the studies. Behind this categorization, research views ER either as an antecedent influencing a specific effect or as an outcome resulting from a particular context.
Originality/value
This paper is the first of its nature, structuring the existing ER research and proposing a research agenda on ER with seven concrete research avenues and their research questions. Based on the systematic literature review, the authors develop a framework consolidating the interrelations of the different levels.
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6 days ago
Mayank Jaiswal
Mayank Jaiswal
Institution:
Email:
Purpose
This study compares the performance of female majority-owned new ventures (FNV) vs. male majority-owned new ventures (MNV). It analyzes the differences in levels of variables such as education, the same industry work experience of owners, and other venture level attributes between FNVs and ...
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Purpose
This study compares the performance of female majority-owned new ventures (FNV) vs. male majority-owned new ventures (MNV). It analyzes the differences in levels of variables such as education, the same industry work experience of owners, and other venture level attributes between FNVs and MNVs. More importantly, this study employs decomposition techniques to determine the individual contribution from the intergender difference of each attribute on the performance of the new venture. For example, the study finds that, on average, the owners of an MNV possessed 3.4 years more of the same industry work experience than their FNV counterparts. This difference in work experience accounted for 47% of the “explained” gap [1] in Net Profits between the FNVs and MNVs.
Design/methodology/approach
This paper utilizes the Kauffman Firm Survey, a longitudinal dataset of 4,928 new ventures started in the USA in 2004. It employs Blinder-Oaxaca and Fairlie decomposition techniques in conjunction with OLS and Logit regressions. Both methods provide point estimates of contributions to the performance gap due to the heterogeneity in each attribute across the groups (FNV and MNV). This approach has a significant advantage over OLS or mediation analysis, which can only provide a directional analysis of the contributions of differences in attributes to performance.
Findings
The paper finds no performance gap between MNVs and FNVs. It further investigates whether the heterogeneous characteristics of MNVs vs FNVs are related to different effects on survival and performance. It finds that characteristics such as owners’ work experience in the same industry, average hours worked by owners in the new venture, the technology level of the venture, and its incorporation status are related with a differential impact on new venture survival and performance.
Research limitations/implications
All firms in the dataset belonged to a single cohort (2004) of new ventures started in the US. Future studies are encouraged to develop a dataset from multiple geographies and founding over several years so that the results may be more generalizable.
Practical implications
The paper provides crucial practical guidance to policymakers, investors, and entrepreneurs. In general, policies that enhance the work experience of women entrepreneurs and provide access to infrastructure such as daycares, which may allow them to work more hours, would probably improve the performance of FNVs.
Originality/value
The paper furthers the literature on women entrepreneurship by analyzing point estimates of differential contribution of disparate variables to performance. From a methodological perspective, the study reconciles the results between regression and decomposition analyses.
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6 days ago
Caihong Wen
Caihong Wen
Institution:
Email:
China is actively promoting the development of a robust trading nation. In this context, utilizing data from China’s A-share listed companies spanning from 2003 to 2021, this study investigates the impact of foreign shareholders on enterprises in a scenario where overseas sales reduce the profit m...
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China is actively promoting the development of a robust trading nation. In this context, utilizing data from China’s A-share listed companies spanning from 2003 to 2021, this study investigates the impact of foreign shareholders on enterprises in a scenario where overseas sales reduce the profit margin of Chinese firms. The findings reveal that overseas sales do indeed decrease the profit margin of Chinese enterprises; however, foreign shareholders mitigate this negative effect and various robustness tests support this conclusion. Mechanism analysis confirms that foreign shareholders primarily enhance enterprise productivity through improved production technology spillover effects, thereby alleviating the adverse impact of overseas sales on Chinese firms’ profit margins. Heterogeneity analysis demonstrates that both longer holding periods for foreign shareholders and multiple foreign shareholders significantly alleviate the negative influence of overseas sales on Chinese firms’ profit margins. Moreover, there is significant heterogeneity in how foreign shareholders alleviate these detrimental consequences based on property rights nature, institutional environment, overseas related party transactions and subsidiaries, as well as industry attributes. These findings have important reference value for China’s efforts towards becoming a strong trading nation and can contribute to enhancing trade capacity in other countries.
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1 week ago
Harun Aydilek,
Harun Aydilek
Institution:
Email:
Asiye Aydilek
Asiye Aydilek
Institution:
Email:
We make a novel investigation of welfare costs associated with various suboptimal decisions made by retirees, both analytically and numerically. We utilize a unique framework that incorporates recursive utility with housing, and also encompasses expected utility and recursive utility without housing...
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We make a novel investigation of welfare costs associated with various suboptimal decisions made by retirees, both analytically and numerically. We utilize a unique framework that incorporates recursive utility with housing, and also encompasses expected utility and recursive utility without housing as special cases. Our findings indicate that under-investment in stocks incurs lower welfare costs compared to an equivalent over-investment. Suboptimal allocations in bond holdings result in higher costs than similar misallocations in stocks. Choosing not to participate in the stock market is less detrimental than avoiding the bond market. Should retirees opt to simplify their decision-making by investing solely in one type of asset, it is less costly for them to invest exclusively in bonds. Overconsumption of housing is less costly than an equivalent underconsumption. Suboptimal consumption imposes the highest welfare cost. Decisions regarding consumption, housing, and savings are found to be more crucial than the choice of how to distribute liquid savings between stocks and bonds. Additionally, recursive utility model better captures retirees’ preference for bonds over stocks than expected utility model. Our results, which are consistent across various parameter settings, provide valuable insights for academics and policymakers aiming to enhance retiree welfare.
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1 week ago
Shree Raj Shakya,
Shree Raj Shakya
Institution: Research Institute for Sustainability - Helmholtz Centre Potsdam (RIFS), Potsdam, Germany
Email: shreeraj.shakya@iass-potsdam.de
Amrit Man Nakarmi,
Amrit Man Nakarmi
Institution: Department of Mechanical and Aerospace Engineering, Pulchowk Campus, Institute of Engineering, Tribhuvan University, Pulchowk, Lalitpur, Nepal
Email: info@rnfinity.com
Anita Prajapati,
Anita Prajapati
Institution: Department of Mechanical and Aerospace Engineering, Pulchowk Campus, Institute of Engineering, Tribhuvan University, Pulchowk, Lalitpur, Nepal
Email: info@rnfinity.com
Bijay Bahadur Pradhan,
Bijay Bahadur Pradhan
Institution: Sirindhorn International Institute of Technology, Thammasat University, Pathumthani, Thailand
Email: info@rnfinity.com
Utsav Shree Rajbhandari,
Utsav Shree Rajbhandari
Institution: Department of Mechanical and Aerospace Engineering, Pulchowk Campus, Institute of Engineering, Tribhuvan University, Pulchowk, Lalitpur, Nepal
Email: info@rnfinity.com
Maheswar Rupakheti,
Maheswar Rupakheti
Institution: Research Institute for Sustainability - Helmholtz Centre Potsdam (RIFS), Potsdam, Germany
Email: info@rnfinity.com
Mark G. Lawrence
Mark G. Lawrence
Institution: Research Institute for Sustainability - Helmholtz Centre Potsdam (RIFS), Potsdam, Germany
Email: info@rnfinity.com
There is a growing number of national, subnational and even company targets for net-zero emissions of CO2 in support of the Paris Climate Agreement goals of limiting the global average temperature increase within 1.5 °C by 2100. The challenges faced by developing countries in achieving net-zero em...
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There is a growing number of national, subnational and even company targets for net-zero emissions of CO2 in support of the Paris Climate Agreement goals of limiting the global average temperature increase within 1.5 °C by 2100. The challenges faced by developing countries in achieving net-zero emissions targets are, however, very prominent due to their common desire for rapid economic growth, improved socio-economic conditions, and greater climate resilience. In addition, this has to overcome many constraints related to the competitiveness, acceptability, and sustainability of proposed and planned low-carbon initiatives. It is thus very important to understand the economic and technical characteristics of net-zero emissions concepts and pathways. The constraints can best be addressed if actual and transparent co-benefits related to these initiatives are identified and reflected during their implementation. Here we employ the Low Emissions Analysis Platform (LEAP) to examine Nepal’s recently introduced ‘Long-term Strategy for Net-zero Emissions’ and to estimate anticipated co-benefits in terms of reducing air pollutants emission and enhancing energy security and energy equity. Under the reference scenario (REF), the annual CO2 emission is expected to increase from 23 MtCO2 in 2019 to 79 MtCO2 in 2050 with significant increase in air pollutants emissions in the range of 60% (Organic Carbon) to 183% (SO2), increase in energy import dependency, reaching electricity consumption per capita below one-quarter of the world average. Under the ‘With Additional Measures (WAM)’ strategy scenario, air pollutants would be reduced in the range of 70% (Organic Carbon) to 85% (Black Carbon) respectively, in 2050 as compared to the REF. Similarly, it results drastic improvement in energy security indicators and energy equity. It is expected that the findings of this study will provide useful input to policymakers, private sector, societal actors and researchers in support of successful implementation of the initiatives for sustainable socio-economic transformation pathways.
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1 year ago