Publisher: Cracow University of Economics   (Total: 2 journals)   [Sort alphabetically]

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Entrepreneurial Business and Economics Review     Open Access   (Followers: 8)
Intl. Entrepreneurship Review     Full-text available via subscription  
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Entrepreneurial Business and Economics Review
Number of Followers: 8  

  This is an Open Access Journal Open Access journal
ISSN (Print) 2353-883X - ISSN (Online) 2353-8821
Published by Cracow University of Economics Homepage  [2 journals]
  • Entrepreneurial activity and economic growth: A dynamic data panel
           analysis of European countries

    • Authors: Sofia Gomes, Pedro Ferreira
      Pages: 7 - 20
      Abstract: Objective: The goal of this article is to analyse the impact of different measures of entrepreneurial activity, namely through attitudes and behaviour, on the economic growth of 21 European countries. The goal is to assess the impact of entrepreneurial activity, measured by perceived capabilities, perceived opportunities, entrepreneurial activity, and total early stage, on the economic growth of these countries. Research Design & Methods: This study is based on a quantitative methodology and uses a data panel covering 21 European countries and a period from 2001 to 2019 (196 observations). A statistical analysis of the dependent, independent and control variables was performed, panel data stationarity analysis was carried out, and three multiple linear regression models were estimated using the generalized method of moments (dynamic panel data). Findings: The results suggest that the entrepreneurial activity driven by the opportunity has a positive impact on the gross domestic product per capita and, as such, stimulate the economic growth of the European countries considered in this sample. However, entrepreneurial activity at an early stage and the skills and knowledge to start a new business have a negative impact on the economic growth of these countries. Implications & Recommendations: In general, this study suggests that entrepreneurship driven by opportunity (directly or indirectly by perceived capacities) is a key factor in stimulating the European countries’ economic growth considered in this sample. Contribution & Value Added: This study complements the existing literature that analyses the impact of entrepreneurship on economic growth, but using a sample of countries in Europe (there are few empirical studies for this purpose on European countries), and it is innovative because three different measures of entrepreneurial activity are tested, a more generic one and two other measures of entrepreneurial behaviour and attitudes collected by the global entrepreneurship monitor (GEM) to assess their impact of entrepreneurship on countries’ economic growth.        
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100201
      Issue No: Vol. 10, No. 2 (2022)
  • Adoption of open innovation and entrepreneurial orientation practices in
           Malaysian furniture industry

    • Authors: Fazli Wadood, Mohammed Emad Alshaikh, Fazal Akbar, Maqsood Mahmud
      Pages: 21 - 40
      Abstract: Objective: The main objective of this research is to integrate the resource-based view (RBV) to analyse how the relationship between firm performance and entrepreneurial orientation is mediated by outbound innovation among furniture firms in Malaysia. Research Design & Methods: In this research, data has been poised via questionnaire from the furniture firms in Johor state, Malaysia. In this study, 391 responses were considered and analysed. The partial least squares (PLS) model was employed to test the hypothetical relationships among entrepreneurial orientation, firm performance and outbound innovation intention to adopt open innovation practices. Findings: Research findings show that innovativeness, competitive aggressiveness, risk-taking, outbound innovation are statistically significant factors influencing entrepreneurial orientation and open innovation adoption among furniture companies in Malaysia. However, autonomy and proactiveness do not have significant effects on entrepreneurial orientation and open innovation adoption intention. Implications & Recommendations: Few implications that are significant for academics and practitioners are also debated according to research findings. This research can serve as a guideline for successfully implementing entrepreneurial orientation and open innovation among furniture firms in an emerging economy. Thus, offering an external  knowledge search-collaboration mechanisms-superior performance framework. Through using  this open approach, companies will seek to find opportunities for creativity that go beyond their  current capabilities to dramatically boost success. Contribution & Value Added: This research, expanding the open innovation (OI) paradigm, explicates and measures the impact of OI’s direct and mediating inputs on entrepreneurial orientation (EO) and firm performance. The results are consistent with the current OI literature demonstrating the complex connection among together outbound innovation and EO dimensions and firm performance by investigating Malaysian furniture manufacturers by building scales and evaluating their validity by developing outbound innovation. The initial findings are direct ties between entrepreneurial orientation dimensions with business performance and outbound open innovation. All the indirect (mediation) relations among the study variables were the second part of the results.
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100202
      Issue No: Vol. 10, No. 2 (2022)
  • Formal sources of finance boost innovation: Do immigrants benefit as much
           as natives'

    • Authors: Shayegheh Ashourizadeh, Mehrzad Saeedikiya, Zeynab Aeeni, Serdar Temiz
      Pages: 41 - 59
      Abstract: Objective: The article investigates the relative benefit of formality/informality of finance sources for innovation and compares this benefit amongst immigrant and native entrepreneurs. The authors investigate whether formal finance (here, bank loan) benefit innovation more than informal sources (personal savings and friend/family loan). Then, they explore whether an entrepreneur‘s status strengthens or weakens the benefit finance sources for innovation. Research Design & Methods: This study applies a quantitative approach to conduct the research. The data of 15,850 entrepreneurs surveyed by Global Entrepreneurship Monitor in 2015 were analysed using the hierarchical linear modelling (HLM) technique. Findings: Results indicated that formal finance benefits innovation more than informal sources, and this advantage is the same for both immigrant and native entrepreneurs. Implications & Recommendations: Despite the prevalence of some stereotypes regarding the simplistic and repetitive nature of immigrants ‘ businesses, the study recommends that financial institutions and policymakers plan to enhance entrepreneurs ‘ access to formal financial resources irrespective of their migrant status. Policymakers also can plan to increase the immigrant entrepreneurs ‘ access to the formal sources of finance by tailored educations to boost innovation. Contribution & Value Added: The results highlight that immigrant entrepreneurs benefit from formal finance towards innovation similarly to their native counterparts. Such a clarification informs the studies on the liability of foreignness and innovation finance that immigration status cannot be a barrier to innovation as portrayed and conceptualized by some studies.
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100203
      Issue No: Vol. 10, No. 2 (2022)
  • How small printing firms alleviate impact of pandemic crisis'
           Identifying configurations of successful strategies with fuzzy-set
           qualitative comparative analysis

    • Authors: Marcin Suder, Rafał Kusa, Joanna Duda, Margarita Dunska
      Pages: 61 - 80
      Abstract: Objective: The objective of this article is to identify strategies that can help small firms alleviate the negative impact of the COVID-19 crisis. We test six strategies (namely, entrepreneurial, market penetration, market development, product development, diversification, and cooperation). In particular, we identify combinations of these strategies that can lead to performance during the current pandemic crisis. Research Design & Methods: This is a quantitative study that uses fuzzy-set qualitative comparative analysis (fsQCA). We identify and compare combinations of strategies that are specific for three market conditions; namely, non-crisis, the initial phase of the crisis, and the advanced phase of the crisis. The research sample consists of 150 small printing enterprises operating across Poland. Findings: Our findings show that combinations that can lead to firm performance during crises differ from those that are specific for non-crisis conditions. Specifically, the presence of a diversification strategy together with the absence of a market-penetration strategy along with the presence of entrepreneurial, market-development, and product-development strategies can lead to an increase in firm performance before the crisis. During the initial phase of a crisis, the presence of an entrepreneurial strategy together with a product-development strategy or a product-development strategy that is accompanied by a diversification strategy can lead to an increase in firm performance. During the advanced phase of the crisis, the presence of an entrepreneurial strategy together with a product-development strategy along with a set of entrepreneurial, market-penetration, market-development, and cooperation strategies can lead to an increase in firm performance. The most common strategies are product-development and entrepreneurial strategies; these are present under all market conditions. Implications & Recommendations: This study confirms the role of a firm’s strategy. This study exposes the necessity of strategy adaptation to changing market conditions. In particular, this study indicates which strategies and their combinations enable a firm to alleviate the impact of the a crisis. These observations have meaningful managerial implications for entrepreneurs regarding the current COVID-19 pandemic crisis as well as possible future crises. Contribution & Value Added: With its findings, this study contributes to the literature on the response to the COVID-19 crisis. In particular, this study indicates those strategies that can help firms mitigate the impact of the pandemic crisis. This study implements the fsQCA methodology to identify combinations of strategies that enable the mitigation of the negative impact of the crisis.
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100204
      Issue No: Vol. 10, No. 2 (2022)
  • Is business succession by the search fund model an option for Central

    • Authors: Jörg Freiling, Max Oestreich
      Pages: 81 - 96
      Abstract: Objective: Introduced in the 1980s in the USA, the search fund model as a niche financial instrument of entrepreneurship through acquisition has not yet become popular outside North America. This article responds to the question whether search fund could be an interesting model for Central European countries with an increase in business successions. Research Design & Methods: A qualitative content analysis of interview data from eight cases from German-speaking countries allows analysing the context and experiences, as this is the region with the most cases of applications within Central Europe to date. Findings: The results reveal the entrepreneurial intent of the searchers, the searcher’s confirmation of the theoretical advantages of the search fund model, and the low popularity of the model in the German-speaking markets due to scepticism and hindering factors like the criteria catalogue, market idiosyncrasies, competition of private market investors, and lower control of choosing and running a target company. Furthermore, these markets offer well-established financing alternatives which makes searchers choose alternative models. Implications & Recommendations: Because the search fund model as niche model does not tap its full potential, a transfer of best practices between different regions in the world is beneficial. Moreover, platforms connecting successors, funders, and predecessors may be useful in this regard. Contribution & Value Added: The study offers first empirical insights on adoption factors of the search fund model in German-speaking markets: in so doing, it sheds light on preferences and concerns of the parties involved, with the aim to facilitate the model’s future application all-over Central Europe.        
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100205
      Issue No: Vol. 10, No. 2 (2022)
  • Modelling the interactions among enablers of technology entrepreneurship:
           An ISM and Fuzzy-MICMAC approach

    • Authors: Shilpa Sindhu, Rahul S Mor
      Pages: 97 - 111
      Abstract: Objective: The objective of the article is to explore the enablers for technology entrepreneurship and model them into a contextual relationship through a qualitative approach. Moreover, the article presents a guiding framework for adopting technology startup by budding entrepreneurs through modelling the enablers. Research Design & Methods: Factor analysis was applied to identify the significant factors, and Interpretive Structural Modelling (ISM) and Fuzzy-Matriced’ Impacts Croises-Multiplication Applique’ and Classment (MICMAC) were used to model the factors. Findings: It was found that ‘supportive government policies,’ ‘more funding options,’ and ‘intellectual property benefits’ are the three significant driving factors. These factors impact ‘personal interest’ of entrepreneurs through linkage factors and ‘attraction for financers’ as enablers for adopting technology startup by entrepreneurs. Implications & Recommendations: This research highlights government and policy initiatives’ established role in harnessing innovation and technology growth in any ecosystem. It further propagates that the individual attitude of an entrepreneur towards accepting new ideas for startup based on technology makes a huge difference to the industry. The role of quality investors in promoting technology startup is highlighted. Contribution & Value Added: This research suggests the roadmap for market players and policymakers to shape the policies and resources so that the budding entrepreneurs get sufficient support and motivation to pursue technology-based startup. The study is unique because it adopts ISM and fuzzy-MICMAC for modelling the factors into a meaningful contextual framework.        
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100206
      Issue No: Vol. 10, No. 2 (2022)
  • Internal market knowledge sharing in medium-high-tech manufacturing

    • Authors: Marcin Soniewicki
      Pages: 113 - 130
      Abstract: Objective: The goal of this study is to verify new research model among medium-high-tech manufacturing companies. First of all, the model assumes the influence of both the market knowledge base itself, and the efficiency of internal market knowledge sharing on the competitiveness of analysed entities. Second of all, it analyses the impact of market knowledge perception within business entities and the openness of technical staff on internal market knowledge sharing efficiency. Research Design & Methods: The survey consisted of five latent variables (constructs). The research was conducted by telephone among managers of medium-high-tech manufacturing companies in Poland. The sample consisted of 130 firms. The data was analysed using the PLS-SEM technique. Findings: The research findings proved that both, market knowledge and market knowledge sharing efficiency, had a strong and significant influence on the competitiveness of medium-high-tech manufacturing companies. The results also showed that market knowledge perception and openness of technical staff had statistically significant influence on knowledge sharing efficiency in such companies. Implications & Recommendations: Above all, the study implies that it is not the possession of market knowledge alone, but also importance of sharing this kind of knowledge internally. The article suggests factors that are important for market knowledge sharing, e.g. through properly trained and competent knowledge brokers that enable the examined businesses to gain a competitive edge. The efficiency of market knowledge sharing may be strengthened by putting more attention to market knowledge perception in the company and openness of technical staff. Contribution & Value Added: This study adds to the research on sharing a specific type of knowledge, i.e. market knowledge, within business enterprises and influence of this process on companies’ competitiveness. Various factors important for efficient internal sharing of market knowledge have been proposed in the subject literature, however they have not been verified by quantitative research so far. Moreover, the study focuses on the oft-overlooked type of business entities, i.e. medium-high-tech manufacturing companies.
      PubDate: 2022-06-18
      DOI: 10.15678/EBER.2022.100207
      Issue No: Vol. 10, No. 2 (2022)
  • How corporate entrepreneurship affects the performance of small and
           medium-sized enterprises in Korea: The mediating and moderating role of
           vision, strategy, and employee compensation

    • Authors: Hyeong Min Kim
      Pages: 131 - 146
      Abstract: Objective: The objective of the article is to provide implications for improving the competitiveness of SMEs by analysing the structural impact relationship of the corporate entrepreneurship of Korean SMEs on business performance. Research Design & Methods: The established research model based on precedent studies was empirically analysed with PLS-SEM by employing the 3299 survey data collected by the Ministry of SMEs and Start-ups in 2018. Findings: Empirical analysis revealed that corporate entrepreneurship affects business performance through a relationship between moderation (employee compensation) and mediation (vision and strategy). Hence, the findings suggest that, along with the importance of corporate entrepreneurship, the proper management of vision and strategy and employee compensation has a significant influence on the business performance of SMEs. Implications & Recommendations: The implications of this research are expected to be applied by the government in establishing policy direction to enhance the corporate entrepreneurship of SMEs in the future. Contribution & Value Added: This study provides empirical evidence that shows the relationship between corporate entrepreneurship and business performance by using the data of Korean SMEs. In particular, it incorporated the effects of vision and strategy, and employee compensation and rendered theoretical and managerial implications.
      PubDate: 2022-06-18
      DOI: 10.15678/EBER.2022.100208
      Issue No: Vol. 10, No. 2 (2022)
  • Identifying the key factors of sustainable entrepreneurship in the
           Nigerian food industry: The role of media availability

    • Authors: Barnabas Nuhu Yakubu, Aidin Salamzadeh, Parisa Bouzari, Pejman Ebrahimi, Maria Fekete-Farkas
      Pages: 147 - 162
      Abstract: Objective: The article’s objective is to identify how media could facilitate the effect of sustainable entrepreneurship on consumer purchase behaviour, based on evidence from the food industry in Nigeria. Research Design & Methods: The research population was experts who have sufficient information, expertise, and experience in the field of sustainable entrepreneurship and marketing, and pay attention to online social platforms and consumer purchase behaviour. There population amounted to 33 interviewed experts. A combination of Delphi-ANP (Analytic Network Process) approaches was used. Results showed that customers’ satisfaction was the key dimension that affects sustainable entrepreneurship in the Nigerian food industry. Findings: ‘Access to the internet’ had the highest rank (F15) (0.33741), which showed that it was the most important factor in developing sustainable entrepreneurship of food industry, regarding to media role in Nigeria. ‘production process and the environment’ (F1) (0.33461) ranked second and was close to the ‘price satisfaction’ (F17) (0.32049) in importance. In addition, managers should not ignore the ‘excellent functional quality of the brand,’ ‘personal attributes of customers’ care’ and ‘packaging quality,’ since these three factors were ranked fourth, fifth and sixth, respectively. Implications & Recommendations: The entrepreneurs should focus more on this dimension to develop a sustainable food industry in Nigeria. Meanwhile, media availability had a significant role in developing sustainable entrepreneurship in Nigeria. Contribution & Value Added: Most researchers focused on sustainable entrepreneurship without considering the impacts of media as a channel of achieving it by changing the consumers’ behaviours towards consuming a particular product. Therefore, this research -investigated how media could moderate the effect of sustainable entrepreneurship on consumer purchase behaviour, taking evidence from the food industry in Nigeria.                
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100209
      Issue No: Vol. 10, No. 2 (2022)
  • Marketing determinants of innovation ambidexterity in small and
           medium‐sized manufacturers

    • Authors: Izabela Kowalik, Agnieszka Pleśniak
      Pages: 163 - 185
      Abstract: Objective: The study aimed to identify the marketing determinants of SMEs’ innovation ambidexterity and explore this phenomenon in the firms from a post-transition Polish market. Specifically, market-sensing capability, entrepreneurial marketing orientation, and marketing strategies were considered the possible determinants of innovation ambidexterity. The comparative character of the study enabled examining if these relationships have changed comparing 2019 to the time of pandemic crisis in 2021. Research Design & Methods: The study includes a sample of 240 Polish manufacturing SMEs contacted with the CATI/CAWI method in May 2019 and 219 firms selected and surveyed according to the same method between January-February 2021. The results were obtained with factor analysis and logistic regression. Findings: Innovation ambidexterity was related to market sensing, opportunity focus, proactive orientation, and adaptation strategy applied by manufacturing SMEs in the B2B markets. However, during the pandemic crisis, the different determinants replaced those identified during the less turbulent time. Implications & Recommendations: Entrepreneurial marketing accompanies innovation ambidexterity. Including employees in the sensing process and concentrating on market opportunities are especially stimulating for exploratory and exploitative innovations. The significant influence of firm size and high-tech industry on ambidexterity points to the role of SMEs’ strategic agility in a turbulent environment. Contribution & Value Added: The study explored in detail the marketing determinants of an important SME capability: innovation ambidexterity. Comparing data from the span of two years enabled taking into account the pandemic crisis. In addition, the study verified the measurement tool for analyzing SME ambidexterity.
      PubDate: 2022-06-16
      DOI: 10.15678/EBER.2022.100210
      Issue No: Vol. 10, No. 2 (2022)
  • The two-mode network approach to digital skills and tasks among technology
           park employees

    • Authors: Anna Ujwary-Gil, Bianka Godlewska-Dzioboń
      Pages: 187 - 204
      Abstract: Objective: The article predicts how the performance of tasks understood as tasks shared between a dyad can be predicted based on the perceptual difference of behaviors in terms of the digital skills of technology park employees (social actors). Here, employees serve park tenants mainly from the creative, game, IT and multimedia industries, and broadly understood audiovisuals. Research Design & Methods: The questionnaire previously validated by other authors was used to measure employees’ digital skills and two non-parametric network statistics tests based on data permutation were conducted: the quadratic assignment procedure (QAP) and the multiple regression quadratic assignment procedure (MRQAP), which are good at error autocorrelation. Findings: The results show that there is a relationship between selected digital skills and tasks shared among employees; digital skills influence behavior patterns, thus increasing or decreasing tasks shared in the workplace; moreover, dyad embedded in an intra-organizational social network is more appropriate for anticipating inherently relational tasks sharing between employees in a knowledge-intensive organization. Implications & Recommendations: The findings contribute to the literature on digital skills and shared tasks from a dyadic and organizational perspective by deepening the understanding of the relationship between a pair of employees. Organizations should apply digital skills training to influence interpersonal relationships and thus the effectiveness of task performance and business processes. It seems necessary to develop and implement policy’s assumptions about increasing the digital skill level of its employees. Contribution & Value Added: The article shows digital skills (information management, information evaluation, communication sharing, communication building, communication networking, collaboration, critical thinking, creativity, problem solving) in connection with the tasks performed in the workplace in terms of dyads and two-mode networks (actors and digital skills; actors and tasks performed). In this perspective, the perceptual differences of behaviors in digital skills are considered, which from the network perspective have not yet been explored by other researchers.        
      PubDate: 2022-06-17
      DOI: 10.15678/EBER.2022.100211
      Issue No: Vol. 10, No. 2 (2022)
  • The entrepreneurial motivation, Covid-19, and the new normal

    • Authors: Cristina Blanco González-Tejero, Klaus Ulrich, Agustin Carrilero
      Pages: 205 - 217
      Abstract: Objective: The main objective of the article is to show how the influence of Covid-19 affects entrepreneurial motivation through the variables of creativity, leadership, and communication, understood as information available and transferable within the environment. Research Design & Methods: The study was performed by means of an email survey questionnaire conducted on 63 employees in Madrid (Spain). The propositions and the research model were tested with fuzzy-set qualitative comparative analysis (fsQCA). Findings: The results illustrate that employees who aspire to become entrepreneurs evidence specific configurations in relation to the variables proposed before the Covid-19 pandemic. Nevertheless, these configurations in the new normal are only determinant for the absence of entrepreneurial decision. Implications & Recommendations: Background affects the link between the variables of creativity, communication, leadership, and entrepreneurial motivation. Thus, the uncertainty derived from Covid-19 influences entrepreneurial development, and consequently, it is recommended to consider these aspects in government policies that encourage support to potential entrepreneurs. Contribution & Value Added: Through a comprehensive assessment, this research contributes to the literature on entrepreneurship by addressing the gap related to entrepreneurial motivation and the impact of the new normal in the face of Covid-19.
      PubDate: 2022-06-18
      DOI: 10.15678/EBER.2022.100212
      Issue No: Vol. 10, No. 2 (2022)
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