Entrepreneurial Orientation and Start-ups’ External Financing

Vaznyte, Egle; Andries, Petra

doi:10.5465/ambpp.2018.13368abstract

Cited by 6 publications

(6 citation statements)

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“…A Orientação empreendedora (OE) é um tema interdisciplinar que figura como objeto de estudo em diversas áreas do conhecimento, em especial na teoria organizacional, estratégia e economia (Miller, 2011). O tema vem sendo considerado chave para a adoção de estratégias, capazes de alicerçar decisões que possam levar à firma à maximizar seu desempenho (Runyan, Droge & Swinney, 2008;Kollmann & Stöckmann, 2014, Lazzarotti, Silveira, Carvalho, Rossetto & Sychoski, 2015Vaznyte & Andries, 2019).…”

Section: Orientação Empreendedoraunclassified

“…O estudo de Su & Sohn (2015) examinou os papéis da OE no desempenho de startups chinesas, para os autores a OE é um ativo estratégico da firma, e serve de base para que estas desenvolvam vantagens competitivas em ambientes dinâmicos. Vaznyte & Andries (2019) investigaram o papel da OE das startups na tomada de decisões financeiras. Os autores aplicaram o estudo testando suas hipóteses em 4456 startups alemãs, e concluíram que as teorias financeiras não podem explicar inteiramente as decisões de financiamento das startups, mas que, essa explicação pode ser procedente da OE da firma.…”

Section: Orientação Empreendedoraunclassified

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Desempenho De Empresas Incubadas: Efeitos Intervenientes Do Dinamismo Ambiental, Orientação Empreendedora E Capacidade Absortiva

Carvalho

Piekas

Julkovski

et al. 2020

Anais Do XI EGEPE - Encontro De Estudos Sobre Empreendedorismo E Gestão De Pequenas Empresas

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Section: Orientação Empreendedoraunclassified

Desempenho De Empresas Incubadas: Efeitos Intervenientes Do Dinamismo Ambiental, Orientação Empreendedora E Capacidade Absortiva

Carvalho

Piekas

Julkovski

et al. 2020

Anais Do XI EGEPE - Encontro De Estudos Sobre Empreendedorismo E Gestão De Pequenas Empresas

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“…The strategic role of accelerators, business angels, and grants is relevant for bridging the resource gap and addressing the "Fuzzy Front End of Innovation" in pre-seed and seed phases, while Venture Capitals, equity, and debt capital support the transition from innovation to commercialization, helping to reduce the Valley of Death duration [2][3][4]. Established companies tackle this challenging phase more quickly and effectively than start-ups or SMEs thanks to longstanding market positioning and availability of financing and research infrastructures [5,6].…”

Section: Introductionmentioning

confidence: 99%

Circular Bioeconomy Business Models to Overcome the Valley of Death. A Systematic Statistical Analysis of Studies and Projects in Emerging Bio-Based Technologies and Trends Linked to the SME Instrument Support

Gatto

2021

Sustainability

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Reducing the environmental pressure along the products life cycle, increasing efficiency in the consumption of resources and use of renewable raw materials, and shifting the economic system toward a circular and a climate-neutral model represent the heart of the current macro-trends of the European Union (EU) policy agendas. The circular economy and bioeconomy concepts introduced in the EU’s Circular Economy Action Plan and the Bioeconomy Strategy support innovation in rethinking economic systems focusing on market uptaking of greener solutions based on less-intensive resource consumption. In recent decades, industrial research has devoted enormous investments to demonstrate sustainable circular bio-based business models capable of overcoming the “Valley of Death” through alternative strategic orientations of “technological-push” and “market-pull”. The study highlights industrial research’s evolution on bio-based circular business model validation, trends, and topics with particular attention to the empowering capacity of start-ups and small and medium-sized enterprises (SMEs) to close the loops in renewable biological use and reduce dependence on fossil fuels. The research methodology involves a bibliographic search based on the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) approach and the European Innovation Council (EIC) Accelerator Data Hub investigation to understand SMEs’ key success factors and start-ups of the circular bioeconomy sector. Eco and bio-based materials, nutraceuticals, and microalgae represent the most sustainable industry applications, leading to circular bioeconomy business models’ future perspective.

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“…Decision criteria and characteristics of the demand side, especially concerning the role of the founders and/or CEO, are underexplored in the entrepreneurial finance literature and become more relevant in the light of novel and innovative funding sources such as crowdfunding or ICOs. Building on this idea, some authors have already hinted at the entrepreneur's perception of the startup, entrepreneurial orientation, and personal control preferences as further non-financial determinants beyond the cost of capital (Chandler and Hanks 1998;Eckhardt et al 2006;Vaznyte and Andries 2019).…”

Section: Introductionmentioning

confidence: 99%

Why do startups pursue initial coin offerings (ICOs)? The role of economic drivers and social identity on funding choice

Schückes

Gutmann

2020

Small Bus Econ

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Initial coin offerings (ICOs) are a novel form of funding that has driven billions of dollars into the blockchain ecosystem, potentially challenging traditional funding vehicles such as business angel or venture capital investments. However, little is known of entrepreneurs' rationales for leveraging this emerging form of financing. This article investigates the economic and behavioral factors that motivate entrepreneurs to fund their startup operations with ICOs. By conducting indepth interviews with C-level managers or founders of ICO-funded startups, our analysis reveals four dimensions that have an impact on the decision: (1) funding, (2) community building, (3) tokenomics, and (4) personal and ideological drivers. Our findings suggest that the entrepreneur's social identity in conjunction with the enabling mechanisms of the blockchain technology shape entrepreneurial pursuits and funding choice. We contribute to the literature on entrepreneurial finance by increasing understanding of ICOs and to the literature on entrepreneurial decision making by providing qualitative insights into the influence of founder identity on key decisions in startups such as financing.

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Entrepreneurial Orientation and Start-ups’ External Financing

Cited by 6 publications

References 0 publications

Desempenho De Empresas Incubadas: Efeitos Intervenientes Do Dinamismo Ambiental, Orientação Empreendedora E Capacidade Absortiva

Desempenho De Empresas Incubadas: Efeitos Intervenientes Do Dinamismo Ambiental, Orientação Empreendedora E Capacidade Absortiva

Circular Bioeconomy Business Models to Overcome the Valley of Death. A Systematic Statistical Analysis of Studies and Projects in Emerging Bio-Based Technologies and Trends Linked to the SME Instrument Support

Why do startups pursue initial coin offerings (ICOs)? The role of economic drivers and social identity on funding choice

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