Purpose According to an emerging research trend, which seeks to apply the concept of intellectual capital (IC) to the field of entrepreneurship, the purpose of this paper is to test whether IC can affect the start-up expectations of aspiring entrepreneurs. Design/methodology/approach Binary logistic regression models, based on empirical data derived from the Global Entrepreneurship Monitor website and referring to Italy over the years 2005-2010, are used to test the influence of IC (comprising human, structural and relational capital) on start-up expectations. Findings Binary logistic regression models reveal robust results. Human, structural and relational capitals affect start-up expectations in Italy. Only in 2010 did structural capital fail to do so. Research limitations/implications This study has three main limitations. The first concerns the need for further research to confirm the influence of IC on start-up expectations. The second concerns in-depth, more exhaustive analyses that cannot be carried out due to the use of second- hand data. The third deals with the reference only to Italy, over a limited time-span (2005-2010). Originality/value To the best knowledge of the author, this is one of the first empirical studies that investigate whether IC can affect start-up expectations. Results revealed by the regression models might steer other scholars’ interest toward this research path (linking IC and entrepreneurship) that has not yet been properly considered.

Purpose The purpose of this paper is to investigate the way companies involved in Open Innovation Processes (OIPs) routinize the procedure through which they can absorb in-bound knowledge, i.e. knowledge that comes from the outside and, in particular, from the crowd. In-bound knowledge passes through the phases of acquisition, assimilation, transformation and exploitation. Thus, companies need to define mechanisms and paths – related to their potential and realized absorptive capacity –to manage and exploit it. Design/methodology/approach The present paper is based on a longitudinal case study, an OIP launched by Fiat Chrysler Automobiles (FCA) that has already been implemented for three times. Multiple direct interviews with FCA top managers have allowed rebuilding the routinized procedure through which the company absorbs in-bound knowledge. Findings To routinize the procedure of absorbing in-bound knowledge, the company has settled specific mechanisms and paths and has established some bottlenecks over the process of acquisition, assimilation, transformation and exploitation of in-bound knowledge. These mechanisms and path, as well as these bottlenecks, are identified and descripted in the paper. Research limitations/implications Beyond the limitations linked to the use of a single case study, another limitation might be the reference to a big company in a specific industry. Anyway, with due caution, achieved findings can be referred to other industries as well. Originality/value This paper contributes to exploring if and how companies managing OIPs routinize the procedure through which they can absorb in-bound knowledge.

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This paper arises from the contents of the Lisbon Strategy, a set of cooperation policies stressing the role of education and training. The findings from a comparative study of the influence that entrepreneurial training – classified as formal or informal – can have on start-up expectations are analysed. The study covers fifteen European countries and uses data derived from the Global Entrepreneurship Monitor (GEM) website. The results of a logistic regression model show significant differences across Europe: in some countries, start-up expectations are influenced only by participation in formal entrepreneurial training programmes; in others, they are affected only by participation in informal entrepreneurial training activities; in yet others, such expectations are induced by both formal and informal entrepreneurial training. Regarding the current status of entrepreneurial training, it appears that although the fifteen European countries are following the correct path there is still much to do to achieve the overall objectives established by the Lisbon Strategy. Some recommendations for policy makers and the implications for future research are suggested in the concluding section of the paper.