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Entrepreneurial failure
(2022)
Although entrepreneurial failure (EF) is a fairly recent topic in entrepreneurship literature, the number of publications has been growing dynamically and particularly rapidly. Our systematic review maps and integrates the research on EF based on a multi-method approach to give structure and consistency to this fragmented field of research. The results reveal that the field revolves around six thematic clusters of EF: 1) Soft underpinnings of EF, 2) Contextuality of EF, 3) Perception of EF, 4) Two-sided effects of EF, 5) Multi-stage EF effects, and 6) Institutional drivers of EF. An integrative framework of the positive and negative effects of entrepreneurial failure is proposed, and a research agenda is suggested.
Research on corporate entrepreneurship—venturing activities by established corporations—has received increasing scholarly attention. We employ bibliometric methods to analyze the literature on corporate entrepreneurship published over the last five decades. Based on the results of citation and co-citation analyses, we reveal central works in the field and how they are interconnected. We investigate the underlying intellectual structure of the field. Our findings provide evidence of the growing maturity and interdisciplinarity of corporate entrepreneurship and provide insight into research themes. We find that resource-based view and its extensions still remain the predominant theoretical perspectives in the field. Drawing on these findings, we suggest directions for future research.
Long-term value creation is expected not only to be concerned with maximizing shareholder value but also includes the impact on other stakeholders and the environment. Environmental, social, and governance (ESG) issues are therefore gaining increasing importance, in line with the growing demand for corporate sustainability. ESG ratings foster the comparison of companies with respect to their sustainable practices. This study aims to investigate how ESG ratings impact financial performance in the European food industry. Ordinary least squares regression is applied to analyze the relation between ESG ratings and financial performance over a 4-year period from 2017 to 2020. The profitability measures Return on Assets (ROA) and Return on Equity (ROE) are employed as financial performance measures, while ESG ratings are obtained from the database CSRHub. Results show that higher ESG ratings are associated with better financial performance. Although the effect is modest in the present study, the findings support previous results that ESG ratings are positively related to financial performance. Nonetheless, they also highlight that ESG ratings strongly converge to the mean, which depicts the need to reassess whether ESG ratings are able to measure actual ESG behavior.
Entrepreneurship education (EE) has attracted much scholarly attention, showing exponential growth in publication and citation numbers. The research field has become broad, complex, and fragmented, making it increasingly difficult to oversee. Our research goal is to organise and integrate the previous literature. To this end, we use bibliometric analyses, differing from prior analyses, which are outdated or have a different focus. Our results show an immense growth in publications and citations over the last decade and an almost equal involvement of business and educational research. We identify the most productive and influential journals and authors. Our co-citation analysis reveals two research clusters, one focusing on psychological constructs relating to EE, and the other on entrepreneurial behaviour and new venture creation. Based on a review of the 25 most-cited articles on an annual basis, we identify and quantify the most relevant research themes and integrate them into a research framework that we propose for future research. A major finding is that extant research centres around the outcomes of entrepreneurship education, whereas its pedagogy is still mainly a black box.
Real options are widely applied in strategic and operational decision-making, allowing for managerial flexibility in uncertaincontexts. Increased scholarly interest has led to an extensive but fragmented research landscape. We aim to measure andsystematize the research field quantitatively. To achieve this goal, we conduct bibliometric performance analyses and bibliographiccoupling analyses with an in-depth content review. The results of the performance analyses show an increasing interest in realoptions since the beginning of the 2000s and identify the most influential journals and authors. The science mappings reveal sixand seven research clusters over the last two decades. Based on an in-depth analysis of their themes, we develop a researchframework comprising antecedents, application areas, internal and external contingencies, and uncertainty resolution throughreal option valuation or reasoning. We identify several gaps in that framework, which we propose to tackle in future research.
In diesem Beitrag möchten wir einen Gedanken des amerikanischen Mathematikers Paul Halmos aufgreifen und konkretisieren. Wir möchten verdeutlichen, dass ökonomisches Denken nicht abstrakt gelehrt, sondern „erfahren“ werden muss, wenn es nachhaltig und in seiner ganzen Breite gefördert werden soll. Dazu dienen kognitiv aktivierende Aufgaben. Was man darunter versteht und welche Funktionen und Qualitätsmerkmale Aufgaben in der ökonomischen Bildung besitzen, verdeutlichen wir in den Abschnitten 1 und 2. Im Praxisteil (Abschnitte 3 bis 8) werden konkrete, unterrichtlich erprobte Beispielaufgaben vorgestellt, mit denen ökonomisches Denken erfolgreich gefördert werden kann. Unser Beitrag schließt mit einer kurzen Skizze wirtschaftsdidaktischer Implikationen (Abschnitt 9).
In this chapter, we conduct bibliometric performance analyses and a co-citation analysis on all articles relating to family firms indexed in Scopus and Web of Science and all articles published in the Family Business Review, Journal of Family Business Management, and the Journal of Family Business Strategy. Based on the literature sample of 4,056 articles published between 1960 and 2020 by 3,600 authors in 783 journals and their 175,163 references, we identify the most productive and most cited journals, the most cited authors, and the 25 most cited articles. Our science mapping reveals the agency theory, definitions, entrepreneurship, internationalization, ownership, resources, socioemotional wealth, and succession as the predominant research themes in family firm research. Whereas entrepreneurship explicitly appears in one of the clusters, innovation does not yet. Based on our findings, we propose a research framework and point to several research gaps to be addressed by future research.
The hospitality industry worldwide is among the hardest-hit industries from the COVID-19 lockdowns. Initial theoretical and practical observations in the hospitality industry indicate that business model innovation (BMI) might be a solution to recover from and successfully cope with the COVID-19 crisis. Interestingly, some firms in the hospitality industry already started to successfully adapt their business models. This study explores the why and how of these successful recovery attempts through BMI by conducting a multiple case study of six hospitality firms in Austria. We rely on interview data from managers together with one of their main stammgasts for each case, which we triangulate with secondary data for the analysis. Findings show that BMI is applied during and after the crisis to create new revenue streams and secure a higher level of liquidity, with an important role of stammgasts.