Entrepreneurial cognition and the quality of new venture ideas: An experimental approach to comparing future-oriented cognitive processes

Frederiks, Arjan; Englis, Basil G.; Ehrenhard, Michel Léon; Groen, Arend J.

doi:10.1016/j.jbusvent.2018.05.007

Cited by 77 publications

(52 citation statements)

References 154 publications

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“…Accordingly, crowdfunding campaigns often promote products that are in early stages of the development process, when the exact specifications of the to-be-developed product as well as the time needed to deliver it are uncertain (Stanko and Henard, 2017). For potential backers, this creates a unique decisional challenge: they need to decide if they want to pledge their funds to a product that does not exist and will only be realized if the campaign is successful (Frederiks et al, 2019). As they cannot experience the proposed product directly, they need to form a mental representation of the product and base their funding decision on this representation rather than on the actual product.…”

Section: Introductionmentioning

confidence: 99%

Launching for success: The effects of psychological distance and mental simulation on funding decisions and crowdfunding performance

Rose

Wentzel

Hopp

et al. 2021

Journal of Business Venturing

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This research examines how potential backers form mental representations of products in rewardbased crowdfunding campaigns, and how these representations affect funding decisions and campaign performance. To test our framework, we conducted four experiments and also drew on a sample of 961 Kickstarter campaigns. Our results show that two campaign characteristics -the product's development stage and the indicated time to product delivery -determine the psychological distance that supporters experience in response to a campaign, and that psychological distance, in turn, inhibits individual campaign contributions and cumulative campaign success. Furthermore, we find that encouraging supporters to imagine the benefits of product usage is an effective means to increase support for campaigns that elicit high psychological distance.

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Section: Introductionmentioning

confidence: 99%

Launching for success: The effects of psychological distance and mental simulation on funding decisions and crowdfunding performance

Rose

Wentzel

Hopp

et al. 2021

Journal of Business Venturing

View full text Add to dashboard Cite

show abstract

“…Several works in leading journals apply the EE concept (e.g., Bennett, 2019 , 2021 ; Browder et al, 2019 ; Chalmers et al, 2021 ; Frederiks et al, 2019 ; Leten et al, 2016 ; Mc Adam et al, 2020 ; Nambisan, 2017 ; Obschonka & Audretsch, 2019 ; von Briel et al, 2018 ). Most recently, the Journal of Business Venturing published an elaborate application of the framework to high-speed rail infrastructure development in China ( Chen et al, 2020 ).…”

Section: The Ee Concept and Frameworkmentioning

confidence: 99%

COVID-19 as External Enabler of entrepreneurship practice and research

Davidsson

Recker

Briel

2021

BRQ Business Research Quarterly

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For decades, entrepreneurship and strategy research has been dominated by agent-centric and inward-looking theoretical perspectives. The ongoing COVID-19 pandemic demonstrates the limits of this stance, as its influence on business has been both enormous and palpable. For the most part, the effects of the pandemic are no doubt negative. Business research—and presumably business practice—typically address such influence in terms of failure, resilience, and crisis management among existing businesses. Contrasting this prevalent discourse, we focus instead on positive influence of the pandemic for some emerging and new ventures. We analyze the many possible positive effects on entrepreneurship practice and highlight also positive effects on entrepreneurship research. We illustrate both positives by applying the External Enabler framework. JEL CLASSIFICATION: L26, M13, O3, R11

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“…Second, we did not include any anticipated affect relevant for entrepreneurship (Zampetakis et al, 2015) such as anticipatory passion (Cohen et al, 2019). Future research can explore the emergence of anticipated affect configurations and their effect on new venture ideas (Frederiks et al, 2019) using a nonlinear perspective. Novel research is also needed to understand affective diversity in new venture teams (e.g.…”

Section: Limitations Future Research and Practical Implicationsmentioning

confidence: 99%

Uncovering the affective turmoil during opportunity recognition and exploitation: A nonlinear approach

Santos

Caetano

Costa

et al. 2020

Journal of Business Venturing Insights

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This study explores the affective turmoil experienced by nascent entrepreneurs during opportunity recognition and exploitation. Based on the affect circumplex model, we employed nonlinear methods to identify configurations of affect that emerge during these early stages of the entrepreneurial journey. We analyzed data from 50 nascent entrepreneurs using Artificial Neural Networks (ANNs) trained with twenty affect dimensions as input variables and opportunity recognition and opportunity exploitation as outcomes. Results show that nascent entrepreneurs experience different affect configurations during opportunity recognition and exploitation. While four configurations of affect emerged associated with opportunity recognition and exploitation, their nature and importance to the experienced event are significantly different. Specifically, "active screening" is the most important configuration of affect during opportunity recognition, while "vigilant" is the most important during opportunity exploitation. We posit that nonlinear methods can help to uncover the affective turmoil experienced by entrepreneurs during a particular event. These findings provide new insights on how affect associates differently with cognition during the early stages of entrepreneurship. "(…) a startup puts you on an emotional rollercoaster unlike anything you have ever experienced. You flip rapidly from day-todayone where you are euphorically convinced you are going to own the world, to a day in which doom seems only weeks away and you feel completely ruined, and back again. Over and over and over. (…)" Marc Andreessen-Netscape, A16Z 1. Introduction Entrepreneurship is a rollercoaster of affect, subjecting the entrepreneur to a broad range of subjective feeling states, moods and

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Entrepreneurial cognition and the quality of new venture ideas: An experimental approach to comparing future-oriented cognitive processes

Cited by 77 publications

References 154 publications

Launching for success: The effects of psychological distance and mental simulation on funding decisions and crowdfunding performance

Launching for success: The effects of psychological distance and mental simulation on funding decisions and crowdfunding performance

COVID-19 as External Enabler of entrepreneurship practice and research

Uncovering the affective turmoil during opportunity recognition and exploitation: A nonlinear approach

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