【顶级期刊创业研究速递】ETP 2019年第5期文献中英文摘要

Social Structure of Regional Entrepreneurship:  The Impacts of Collective Action of Incumbents on De Novo Entrants

区域创业的社会结构:在位者集体行动对新进入者的影响

作者：

Liang Wang1 and Justin Tan2,3

1School of Management, University of San Francisco, San Francisco, CA, USA

2Schulich School of Business, York University, Ontario, Canada

3School of Management, Tianjin University, Nankai Qu, Tianjin Shi, China

摘要：

文献已经指出集聚经济和由在位企业地理集中所产生的社会关系的形成构成了将新进入者“拉入”产业集群的力量。然而，这一主张忽视了在位者在追求自身利益方面的集体行动如何影响新进入者。本研究探讨了由在位企业建立的商业协会作为集体行动组织如何促进和捍卫集团范围内的由于新进入者导致的利益。通过对加拿大电信设备制造业在1995年至2005年间的实证证据表明，当地商业协会的普遍存在鼓励了新进入者。但是，该影响是曲线性的，即当地在位者会员的过度集体行动会创造一种“俱乐部”环境从而推开了新进入者。

The literature has posited that agglomeration economies and the formation of social relationships resulting from the geographic concentration of incumbents constitute the forces that ‘‘pull’’ new entrants into industry clusters. However, this proposition overlooks how the collective action of incumbents in pursuit of their own benefits affects new entrants. This study examines how business associations as collective action organizations established by incumbents to promote and safeguard group-wide interests contribute to de novo entrants. The empirical evidence from Canada’s telecommunication equipment manufacturing industry between 1995 and 2005 reveals that the prevalence of local business associations encourages de novo entrants. However, the impact is curvilinear such that excessive collective action on the part of local fellow incumbents can create a clubby environment and ‘‘push’’ new entrants away..

How Context Shapes Entrepreneurial Self-Efficacy as a Driver of Entrepreneurial Intentions :A Multilevel Approach

情境如何塑造创业自我效能作为创业意图的驱动因素：一个跨层次方法

作者：

Jana Schmutzler1, Veneta Andonova2, and Luis Diaz-Serrano3

1Escuela de Negocios, Universidad del Norte, Barranquilla, Colombia

2School of Management, Universidad de los Andes, Bogota´, Colombia

3Department of Economics, CREIP Universitat Rovira i Virgili, Reus, Spain

摘要：

我们研究近端和远端社会文化环境如何影响创业者自我效能与创业者意图之间的良好关系。我们关注的是国家的制度性个人主义—集体主义导向以及以首次创业者的存在作为这种关系的调节因素，来解释情境背景的多层性。我们观察到具有创业自我效能的个体，新创业者最为创业意图驱动因素的积极效应比那些不相信自己能够成功建立一家新创企业的个人来得弱。这种影响取决于国家文化的个体主义—集体主义特征。

We study how the proximate and distal sociocultural environments affect the well-established relationship between entrepreneurial self-efficacy and entrepreneurial intentions. We focus on the institutional individualism–collectivism orientation of nations and the presence of nascent entrepreneurs as moderators of this relationship to account for the multilayered nature of the context. We observe that for individuals with entrepreneurial self-efficacy the positive effect of knowing nascent entrepreneurs as a driver of entrepreneurial intentions is weaker than for individuals who do not believe to be able to successfully launch a business venture. This effect is contingent on the individualistic–collectivistic character of the national culture.

Family Firm Brands, Perceptions of Doing Good, and Consumer Happiness

家族企业品牌，做得好感知与消费者幸福

作者：

Margarete Schellong1, Nils D. Kraiczy2, Lucia Mala¨r3, and Andreas Hack2

1Witten Institute for Family Business, Witten/Herdecke University, Witten, Germany

2Institute of Organization and Human Resource Management, University of Bern, Bern, Switzerland

3Institute of Marketing and Management, University of Bern, Bern, Switzerland

摘要：

本研究探讨了家族企业品牌（与非家族企业品牌相比）如何以及为何能影响消费者。我们探讨了品牌的家族企业地位被视为传递给消费者的一个信号，后者会由于保留他们的社会情感财富而享有家族企业会做得更好的类型信念。反过来，这种看法是消费者心中的公平和积极的评价（在其他人的资金资源中间接受益的意义上）引发幸福。在一项实验研究中，家族企业被消费者感知为会更顾及内部和外部的利益相关者，而这些感知又反过来导致更高的消费者幸福感。换句话说，我们的研究结果表明消费者通过感知企业做得好，品牌的家族企业地位会对消费者幸福感有积极的间接的影响。另一方面，我们的研究结果怀疑品牌的家族企业地位可能触发某些信念（非本文所研究的），这些信念可能会对消费者幸福感产生间接的负面影响。

This research examines how and why family firm brands (compared to nonfamily firm brands) affect consumers. We argue that a brand’s family firm status acts as a signal to consumers who share category-based beliefs about family firms doing good due to preserving their socioemotional wealth. This perception in turn is a fair and positive appraisal in the mind of consumers (in the sense of indirectly benefiting others with their spent financial resources) that elicits happiness. In an experimental study, we show that family firms are being perceived by consumers as acting more towards internal and external stakeholders and that these perceptions in turn result in higher consumer happiness. In other words, our results indicate that communicating a brand’s family firm status might have a positive indirect influence on consumer happiness through the perception of doing good. On the other hand, our results suspect that a brand‘s family firm status might also trigger beliefs (not part of our study) with more negative indirect effects on consumer happiness

Foreign Business Activities, Foreignness of the VC Syndicate, and IPO Values

外国商业活动，风险投资外国联合投资，IPO价值

作者：

Salim Chahine1 , Samer Saade2, and Marc Goergen3,4

1The Olayan School of Business, American University of Beirut, Beirut, Lebanon

2Institute of Management Technology, Dubai International Academic City, Dubai, UAE

3Cardiff Business School, Cardiff University, Cardiff, UK

4European Corporate Governance Institute, Brussels, Belgium

摘要：

本文考察了外国风险投资在美国资本市场IPO中所扮演的角色。我们发现美国VC支持型的IPOs受益于外国风险投资的联合投资。特别的，与国内风险投资公司合作，外国风险投资公司在首次公开募股时证明其投资组合公司的质量，这增加了他们的IPO溢价。外国风险投资公司也发挥顾问作用，加强其在美投资的外国商业活动，从而提高IPO溢价。最后，最后，如果外国风险投资公司来自被投资方从事外国商业活动的国家，那么它们的监督作用产生的价值增值就会更大。

This article examines the role played by foreign venture capital (VC) firms in U.S. initial public offerings (IPOs). We find that U.S. VC–backed IPOs benefit from the foreignness of the VC syndicate. Specifically, jointly with domestic VC firms, foreign VC firms certify the quality of their portfolio companies at the time of the IPO, which increases their IPO premium. Foreign VC firms also play an advisory role, enhancing the foreign business activities of their U.S. investees, thereby increasing the IPO premium. Finally, value added by foreign VC firms is greater through their monitoring role if they originate from countries where the investee has foreign business activities.

Founders Matter! Serial Entrepreneurs and Venture Capital Syndicate Formation

创始人重要！连续创业者与风险投资联合投资形成

作者：

Lei Zhang

Center for Entrepreneurship, Department of Marketing, Muma College of Business, University of South Florida, Tampa, FL, USA

摘要：

虽然创始人负责寻求风险投资资金，但他们对VC联合投资的影响在现存文献中基本上被忽略了。本研究通过比较连续创业者与首次创业者来填补该研究空白。使用信息不对称观点作为们的的理论指导框架，我们认为当潜在投资者面临信息不对称减弱时，创业者更有可能组建更有利于企业的风险投资联合投资——为创业者提供更多，更多样化的资源，并在一定程度上减少创业者控制权损失。通过实地调查的定性证据，对351个企业的定量分析显示了对我们论证的普遍支持，并揭示了意想不到的细微差别。

Although founders are responsible for soliciting venture capital (VC) funding, their influence over VC syndicate formation has largely been neglected in the extant literature. This article fills this gap by comparing serial and novice entrepreneurs. Using the information asymmetry argument as our guiding framework, we argue that when potential investors face diminished information asymmetry, entrepreneurs are more likely to form VC syndicates that are more beneficial to ventures— providing entrepreneurs with greater and more diverse resources and to some extent reducing entrepreneurs’ loss of control. Enriched by qualitative evidence from fieldwork, a quantitative analysis of 351 ventures shows general support for our argument and reveals unexpected nuances.

Regulation, New Venture Creation, and Resource-Advantage Theory: An Analysis of the U.S. Brewing Industry

监管，新企业创建和资源优势理论：来自美国酿酒行业的分析

作者：

Wesley M. Friske1 and Miles A. Zachary2

1Department of Marketing, College of Business, Missouri State University, Springfield, MO, USA

2Department of Management, Raymond J. Harbert College of Business, Auburn University, W. Magnolia, Auburn, AL, USA

摘要：

监管是政策制定者解决社会成本的重要手段。但是，新近的研究表明管理社会成本常常伴随着以创业活动作为代价。本文通过拓展了资源优势理论来检验消费税，小企业税收抵免和豁免，以及销售限制对美国酿酒行业的新创企业率的影响，进而探索了该双元性。我们对州级酿酒行业监管法规的纵向分析表明，随着时间的推移，税收和销售限制对新创企业产生了不利但有限的影响。此外，税收抵免和豁免与新企业的增长率正相关。

Regulation is an important means by which policymakers address social costs. However, recent research suggests that managing social costs often comes at the expense of entrepreneurial activity. We explore this duality by extending resource-advantage theory to examine the effects of excise taxes, small business tax credits and exemptions, and sales restrictions on rates of new venture creation in the U.S. brewing industry. Our longitudinal analysis of state-level brewery regulations reveals that taxes and sales restrictions have adverse but limited effects on new venture creation over time. Furthermore, tax credits and exemptions are positively associated with growth rates of new ventures.

How Home-Peers Affect the Export Market Exit of Small Firms: Evidence From Canadian Exporters

同乡同行业如何影响小企业退出出口市场：来自于加拿大出口商的证据

作者：

Sui Sui1 , Matthias Baum2 , and Shavin Malhotra3

1Global Management Studies Department, Ted Rogers School of Management, Ryerson University, Toronto, Ontario, Canada

2Technische Universita¨t Kaiserslautern, Lehrstuhl fu¨r Entrepreneurship, Postfach, Kaiserslautern, Germany

3Associate Professor of Strategy, Conrad Business, Entrepreneurship & Technology Centre, Faculty of Engineering, University of Waterloo, Waterloo, Canada

摘要：

我们考察了来自同一个地方同行进入强度（即来自同一个国家并且出口相同市场的同一产业的企业数量）如何影响小企业出口市场的退出。基于41,445名加拿大小企业出口商的面板数据，研究发现同乡同行业强度与同一出口市场的小企业退出率呈现U形关系，也就是说小企业的退出率随着同乡同行业强度增加而减少，到达一个临界点后将随之增加。研究还发现这种U型关系对于早期国际化的小企业更强。

We investigate how home-peer entry density (the number of same-industry firms that originate from the same country and export to the same foreign market) affects the export market exit of small firms. Drawing on panel data from 41,445 Canadian small business exporters, we find a U shaped relationship between home-peer entry density and small firms’ hazard of exit from an export market; that is, firms’ hazard of exit decreases as the home-peer density increases to a certain point and increases after that point. We also find that this U-shaped relationship is stronger for small firms that internationalize early.

END

 

刘志阳，教授，博士生导师，上海财经大学商学院副院长、创业学院执行副院长、中国社会创业研究中心主任

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