The Evolving Entrepreneurial Finance Landscape

Wright, Mike; Lumpkin, Tom; Zott, Chris; Agarwal, Rajshree

doi:10.1002/sej.1232

Cited by 36 publications

(17 citation statements)

References 16 publications

(18 reference statements)

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“…The scholarly community is starting to investigate these questions; see Wright, Lumpkin, Zott, and Agarwal (2016) and related articles in that issue of the Strategic Entrepreneurship Journal, as well as recent reviews (e.g., Block, Colombo, Cumming, & Vismara, 2018;Drover et al, 2017). Consider the second point; the supply of capital and emergence of new players.…”

Section: Resource Acquisitionmentioning

confidence: 99%

A fresh look at patterns and assumptions in the field of entrepreneurship: What can we learn?

Dushnitsky

Matusik

2019

Strategic Entrepreneurship

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Research Summary This article invites scholars to reconsider how the evolution of entrepreneurial phenomena affects the underlying theories employed in our field. We highlight three themes affected by changes to the entrepreneurial journey nowadays in a way that can challenge some foundational research in each area. To that end, we engage in a dual conversation; explicitly revisiting extant theories, as well as deliberately seeking out practice insights on how behaviors and actions are changing. This approach provides fertile ground for future work to re‐examine the theoretical assumptions we often take for granted. Such investigation can either provide fresh evidence of the robustness of extant theory, or create new pathways of inquiry. For entrepreneurship scholars who are dedicated to researching innovation and progress in firms and individuals, this is an exciting time to create innovation and progress in our field. Managerial Summary Has the entrepreneurial journey remained unchanged over the past decades? And if there have been substantive changes, what are they? And what are their implications? These are critical questions that talk to entrepreneurship scholars and practitioners alike. The purpose of this article is to encourage a dialogue among and across the two groups. We present dual theory‐practitioner conversations around three points of dialogue; the origin of entrepreneurial opportunity, organizing and scaling, and resource acquisition. In each case, we show that drawing on both the practice and academic community is important in identifying the value of extant theories and frameworks and where there are important opportunities for new frameworks and predictions. We believe that this kind of theory‐practitioner dialogue offers invaluable guidance to further advance our field. A video abstract is available at https://www.youtube.com/watch?v=R7o9Yy-Vtzs.

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Section: Resource Acquisitionmentioning

confidence: 99%

A fresh look at patterns and assumptions in the field of entrepreneurship: What can we learn?

Dushnitsky

Matusik

2019

Strategic Entrepreneurship

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“…Beyond different types of entrepreneurial firms, new developments in entrepreneurial financing (Wright, Lumpkin, Chris, & Agarwal, ) also have highly relevant implications for venture governance, especially boards. For example, equity crowdfunding—just like IPOs—allows ventures to have hundreds and even thousands of equity investors through internet platforms while remaining private firms (Ahlers, Cumming, Günther, & Schweizer, ; Bruton, Khavul, Siegel, & Wright, ).…”

Section: Toward a Richer Understanding Of Governance In Entrepreneurimentioning

confidence: 99%

Venture Boards: Past Insights, Future Directions, and Transition to Public Firm Boards

Garg

Furr

2017

Strat. Entrepreneurship J.

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Research summary Venture boards are theoretically important and economically relevant. They are at the apex of a venture's organizational hierarchy and have significant influence on the most important decisions related to venture strategy and personnel. This article reviews the organizational and strategy research on venture boards, clarifying how venture boards differ from venture investors and from public firm boards. It lays out a systematic research agenda to stimulate more research on venture governance, including venture board composition and structure, venture board processes, and venture board transitions to public firm boards. This agenda attempts to illuminate the research opportunities related to the distinctive nature of venture boards and enable theoretical engagement with the broader corporate governance scholarship on public firms. Managerial summary A venture's board of directors is highly consequential for its most important strategic and personnel outcomes. Uber and Theranos are just two recent ventures whose boards have come under public spotlight. This article reviews organizational and strategy research on venture boards, mapping the evolution of the academic literature, summarizing key findings, and identifying the most important limitations. It explains how venture boards are different from venture investors and from public firm boards. Importantly, it lays out a systematic research agenda that draws upon the distinctive nature of venture boards and also creates a bridge to the broader literature on public firm boards. New insights on venture board composition, structure, process, and transition to public firm boards will be relevant to venture executives, investors, and directors. Copyright © 2017 Strategic Management Society.

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“…In Europe 1 , the market grew by 38%, while in Finland, the market size over quadrupled between 2015 and 2016 (Ziegler et al, 2018). In line with the market developments, several leading academic journals have called for research on crowdfunding (Bruton et al 2015;Drover et al, 2017a;McKenny et al, 2017;Wright et al, 2016). Accordingly, research on equity crowdfunding has begun emerging fast in recent years, and the legitimization of equity crowdfunding research as a sub-field of entrepreneurial finance is ongoing, with the first wave of research focusing especially on the regulatory and campaign perspectives of equity crowdfunding (Mochkabadi and Volkmann, 2018).…”

Section: Introductionmentioning

confidence: 99%