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Despite the increased attention dedicated to research on the antecedents and determinants of new venture survival in entrepreneurship, defining and capturing survival as an outcome represents a challenge in quantitative studies. This paper creates awareness for ventures being inactive while still classified as surviving based on the data available. We describe this as the ‘living dead’ phenomenon, arguing that it yields potential effects on the empirical results of survival studies. Based on a systematic literature review, we find that this issue of inactivity has not been sufficiently considered in previous new venture survival studies. Based on a sample of 501 New Technology-Based Firms, we empirically illustrate that the classification of living dead ventures into either survived or failed can impact the factors determining survival. On this basis, we contribute to an understanding of the issue by defining the ‘living dead’ phenomenon and by proposing recommendations for research practice to solve this issue in survival studies, taking the data source, the period under investigation and the sample size into account.
What drives entrepreneurial action to create a lasting impact? The creation of new ventures that aim at having an impact beyond their financial performance face additional challenges: achieving economic sustainability and at the same time addressing social or environmental issues. Little is known on how these new hybrid organizations, aiming for multiple impact dimensions, manage to be congruent with their blended values. A dataset of 4,125 early-stage ventures is used to gain insights into how blended values are converted into financial, social and environmental impacts, giving shape to different types of hybrid organizations. Our findings suggest new hybrid organizations might opt to sacrifice financial impact to achieve social impact, yet this is not the case when they aim to generate environmental or sustainable impact. Therefore, the tensions and sacrifices related to holding blended values are not homogeneous across all types of new hybrid organizations.
We have analyzed a pool of 37,839 articles published in 4,404 business-related journals in the entrepreneurship research field using a novel literature review approach that is based on machine learning and text data mining. Most papers have been published in the journals ‘Small Business Economics’, ‘International Journal of Entrepreneurship and Small Business’, and ‘Sustainability’ (Switzerland), while the sum of citations is highest in the ‘Journal of Business Venturing’, ‘Entrepreneurship Theory and Practice’, and ‘Small Business Economics’. We derived 29 overarching themes based on 52 identified clusters. The social entrepreneurship, development, innovation, capital, and economy clusters represent the largest ones among those with high thematic clarity. The most discussed clusters measured by the average number of citations per assigned paper are research, orientation, capital, gender, and growth. Clusters with the highest average growth in publications per year are social entrepreneurship, innovation, development, entrepreneurship education, and (business-) models. Measured by the average yearly citation rate per paper, the thematic cluster ‘research’, mostly containing literature studies, received most attention. The MLR allows for an inclusion of a significantly higher number of publications compared to traditional reviews thus providing a comprehensive, descriptive overview of the whole research field.