FRONTIERS RESEARCH PROCEEDINGS OF THE THIRTY-THIRD ANNUAL ENTREPRENEURSHIP RESEARCH CONFERENCE. Sponsored by

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1 FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 PROCEEDINGS OF THE THIRTY-THIRD ANNUAL ENTREPRENEURSHIP RESEARCH CONFERENCE Sponsored by Arthur M. Blank Center for Entrepreneurship Babson College, Babson Park, Massachusetts USA Co-sponsored by EMLYON Business School Ecully, France Edited by Andrew Zacharakis Babson College Jonathan Arthurs Oregon State University Hans Bruining RSM Erasmus University Candida Brush Babson College Carry Bruton Texas Christian University Dirk De Clercq Brock University Dimo Dimov University of Bath Linda Edelman Bentley University Alain Fayolle EMLYON Business School Sharon Matusik University of Colorado at Boulder Minet Schindehutte Syracuse University Jeffrey Sohl University of New Hampshire Roger Sarheim NTNU Babson College 2013

2 xvii FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 DETAILED TABLE OF CONTENTS Acknowledgements Summary Table of Contents Detailed Table of Contents v xv xvii BEST PAPER AWARDS NATIONAL FEDERATION OF INDEPENDENT BUSINESS (NFIB) AWARD FOR EXCELLENCE IN RESEARCH ON THE GENERAL TOPIC OF ENTREPRENEURSHIP Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework James C. Hayton, Gabriella Cacciotti, Andres Giazitzoglu, ]. Robert Mitchell and Chris Ainge THE STEVENS INSTITUTE OF TECHNOLOGY WESLEY J. HOWE AWARD FOR EXCELLENCE IN RESEARCH ON THE TOPIC OF CORPORATE ENTREPRENEURSHIP Imprinting or Institutionalization? Examining How Social Capital is Transferred during Founder-CEO Successions BretR. Fund 341 THE G. DALE MEYER AWARD FOR THE MOST RELEVANT RESEARCH IN SOCIAL ENTREPRENEURSHIP Microfinance Institutions as Social Entrepreneurs: When do They Fulfill a Social Mission? Mariarosa Scarlata, Jonathan Kimmitt and Dimo Dimov. 535 THE JOURNAL OF SMALL BUSINESS MANAGEMENT (JSBM) AWARD FOR EXCELLENCE IN RESEARCH ON THE TOPIC OF PUBLIC POLICY Is Microcredit a Blessing for the Poor? A Meta-analysis Myrto Chliova, Jan Brinckmann and Nina Rosenbusch 550

3 xviii FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 I. ANGEL FINANCING Entrepreneurs' Character and Competence: How Angel Investors Form Initial Impressions of Trustworthiness Harry J. Sapienza, M. Audrey Korsgaard, Akbar Zaheer and Richard Sudek 1 Liftoff: When Strong Growth is Predicted by Angels and Fuelled by Professional Venture Funds Christophe Bonnet and Peter Wirtz 15 Lost in Transmission: The Effect of Received Signals on Angel Support for Entrepreneurial Ventures Candida G. Brush and Linda F. Edelman 16 Business Angels' Approaches to Behavioral Uncertainty: The Role of Confidence and Trust Matthias Fink, Andrea Moro, Hans Landström, and Sofia Avdeitchikova 17 The Entrepreneur-Business Angel Investor Relationship: How does it Influenae Initial and Follow-On Investment Decisions and Investment Outcomes? Geoff Gregson, Richard T. Harrison and James Carr 18 Trust at First Sight? The Impact of Entrepreneurs' Pitch Presentations on Business Angels' Investment Decisions in France and Germany Miruna Radu Lefebvre, Vincent Lefebvre and Thierry Delecolle 19 Relationship Conflict Asymmetry between Angel Investors and Entrepreneurs: Exploring Antecedents and the Impact of Dyad Position Veroniek Collewaert, M. Audrey Korsgaard and Tony L. Simons 20 II. VENTURE CAPITAL Investment Strategies of Cross-Border Venture Capital Investors David Devigne and Sophie Manigart 21 Private Equity Fund Performance Signals and the Likelihood of Follow-On Fundraising Tom Vanacker, Mirjam Knockaert, and Sophie Manigart 36 The Effect of Uncertainty on Venture Capitalists' Investment Trajectories in the Clean Energy Sector Anu Wadhwa, Xin Yao and Antoaneta Petkova 50 Cross Border Investments, Capital Market Development, and Venture Capital Exits in Europe Fabio Bertoni and Alexander Groh 65

4 DETAILED TABLE OF CONTENTS m Demystifying the VC Business Model Maximilian Schmidt and Reiner Braun 66 The Best of Both Worlds: The Berichts of Specialized-Brokered and Diverse-Closed Syndication Networks for New Venture Success Anne ter Wal, Oliver Alexy, Jörn Block and Philipp Sandner 67 Public Funds as Venture Capital in Transitional Economies: Examining the Effectiveness of the Government Guiding Fund Policy in China Wei Yang 68 Contingent Round Financing in Venture Capital Will Drover and William McKinley. 69 Adjusting Attention under Time Pressure and Strategie Change: The Moderating Role of Strategie Alliances Violetta Gerasymenko 70 Different Sources of Venture Capital and their Investment Management Practices Sarah Park and Joseph A. LiPuma 71 III. FINANCING Thinking It or Feeling It? The Dual Routes of Entrepreneurial Passion Chaim Letwin, Cameron Ford and Michael P. Ciuchta 72 Crowdfunding or Herdfunding? An Examination of Social Influence in Venture Investment Decisions Michael P. Ciuchta, Chaim Letwin and Regan Stevenson 87 Entrepreneurial Firms and Signaling for Creditworthiness: A Bayesian Modeling Approach DevK. Dutta, Tevfik Aktekin and Jeffrey E. Sohl. 88 The Influence of Social Capital on Venture Capital Funding of Women-Led Business es Joy Godesiabois and Larry Plummer 89 Affect In the Ask: Emotion as a Legitimating Mechanism in Initial Public Offerings Nathan S. Greidanus and Mahdi Akhgari 90 Crowdfunding and Social Network Theory: An Empirical Investigation Elissa Grossman and Robbie Nakats 91 Small Business Lending Düring the Financial Crisis: The Impact on Businesses in Urban Minority Communities Alicia Robb and Timothy Bates 92 Inside the Black Box of Outcome Additionality: Effects of Early-Stage Subsidies on Resource Accumulation and Firm Performance Anna Söderblom and Mikael Samuelsson 93

5 n FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 The Relational View and Corporate Venture Capital Investments: An Exploratory Partial Least Squares Analysis Christiana Weber, Boris Bauke and Virgil Raibulet 94 Do New Ventures Really Use Proceeds as Intended? Proceeds, Lock-Up Expiration, and Firm Innovation Hyunju Ahn and Daeil Nam 95 Time To Exit? An Examination of the Internal and Extemal Factors Driving Founder Exit Alexander McKelvie, Dawn DeTienne and John Torrens 96 IV. THE ENTREPRENEUR AND CHARACTERISTICS Self-Employment or Employment after Exit: The Effect of an Entrepreneurs Age and Gender Massimo Bau', Francesco Chirico, and Shaker Zahra 97 How do Nascent Entrepreneurs Use Imagination in the Venture Creation Process? A Weekly Diary Study Arjan J. Frederiks, Michel L. Ehrenhard andaard J. Groen 112 The Influence of Organizational Culture and Climate on Entrepreneurial Intentions among Research Scientists Annelore Huyghe, Mirjam Knockaert and Maw Der Foo 126 What is the Appropriate Dependent Variable in Effectuation Research? Alexander McKelvie, Dawn R. DeTienne and Gaylen N. Chandler 141 The Moderating Role of Volitional Conditions and Trait Self-Control on the Entrepreneurial Intention-Action Relationship Marco van Gelderen, Teemu Kautonen and Matthias Fink 156 The Dark Triad: Narcissism, Psychopathy, and Machiavellianism as Predictors of Entrepreneurial Entry Reith M. Hmieleski and Daniel A. Lerner 171 Weathering the Storms: Identifying Attributes of Entrepreneurs' Resilience Using Repertory Grid Technique Stephanie Hussels, Oksana Koryak and Patrick Reinmoeller 172 Entrepreneurial Passion and Its Effect on Firm-Level Innovation Michael Keller 173 Entrepreneurial Traits, Entrepreneurial Orientation, and Innovation in the Performance of Owner-Manager Led Firms: A Meta-analysis Michael Koenig, Christopher Schlaegel and Marjaana Gunkel 174 The Entrepreneur's Post-Investment Perspective: Antecedents of Entrepreneur-Investor Trust Jan Middelhoff and Malte Brettel. 175

6 DETAILED TABLE OF CONTENTS xxi Business Creation under Adverse Conditions: A Global Study of the Importance of Entrepreneurial Resilience Maija Renko and Amanda Bullough 176 Do Imprints Last Forever? Long-Run Effects of Founders' Human Capital on Firm Growth Josh Siepel, Marc Cowling, Gordon Murray and Paul Nightingale 177 Entrepreneurial Learning, Repeat Entrepreneurs and Business Ownership Success and Failure Experience Paul Westhead, Paul Robson and Mike Wright 178 Founding Team Performance: The Interplay of Interpersonal Feeling and Team Diversity QianYe 179 Identity Work and the Process of Constructing Entrepreneurial Identity Richard T. Harrison and Ciaire M. Leitch 180 Young Nascent Entrepreneurs and Impulsivity Daniel V. Holland and Tyson S. Barrett. 181 The Relationship between Small and Large Firm Effect and Entrepreneurial Spawning: A Meta-analytical Review Shanshan Qian, Tae Jun Bae and Chao Miao 182 Role Blurring, Ethnic Background and Work-Family Conflict: A Look at How Entrepreneurs Use Permeable Boundaries between Work and Family Lois M. Shelton, Sharon M. Danes and Ramona Zachary 183 Role Restructuring to Achieve Work-Family Balance: An Empirical Examination of Male and Female Entrepreneurs in the French Biotechnology Industry Lois M. Shelton and Severine Le Loarne ~ Lemaire 184 The Best of Both Worlds: Combining Causation and Effectuation Katrin M. Smolka, Ingrid Verheul and Katrin Burmeister-Lamp 185 Performance Effects of Human Capital: Disentangling the Effect of Experiences and Competencies among Nascent and Young Entrepreneurs Michael Stuetzer, Martin Obschonka and Maria Kaya 186 V. ENTREPRENEURIAL COGNITION To Leave or To Stay? The Decision Context, Self-Image and Owner-Managers' Persistence Decisions Fei Zhu and Stewart Thornhill 187 Cognitive Versatility and Opportun!ty Identification: The Role of Experience, Intuition and Analysis Leonie Baldacchino, Deniz Ucbasaran, Andy Lockett and Laure Cabantous 202

7 FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 Limited Access to Capital, Start-Ups, and the Moderating Effect of an Entrepreneurship Training: Integrating Economic and Psycho!ogical Theories in the Context of New Venture Creation Kim M. Bischoff, Michael M. Gielnik, Michael Frese and Thorsten Dlugosch 203 Entrepreneurial Feedback Interpretation and Goal Adjustment Daniela P. Blettner, Jon C. Carr, Isabell M. Welpe and Marius T. H. Meeus 204 Desirability and Feasibility in Internationalization Intentions: The Impact of Psychological Distance Daniela Bolzani, Riccardo Fini and Gian Luca Marzocchi 205 Flanning Versus Döing: An Empirical Research on Cues That Matter For Financial Commitments and Venture Progress Jan Brinckmann and SungMin Kim 206 I Started a Business and Now I'm Stressed! Global Life Satisfaction as a Coping Resource Rebecca J. Franklin 207 Pre-Decisional Aspects of Entrepreneurial Behavior: How Feedback Influences Intentions and Its Antecedents Patrick Höflinger and Rainer Lauterbach 208 Owning for Love: A Study of Entrepreneurial Passion, Core-Self Evaluation and Psychological Ownership of Venture Tori Yu-wen Huang and Gordon K. Adomdza 209 A Challenge to Master or a Test to Avoid? How Goal Orientation and Expertise Influence Attitüde after Firm Failure Anna Jenkins and Melissa Cardon 210 Calibrating Team Confidence: The Effect of Individual Hubris on Founding Team Decision-Making Douglas M. Mahony and Jill Brown 211 Howards Neuroentrepreneurship? Early Evidence from a Neuroscience Study Pablo Martin de Holan, Elena Ortiz-Terän, Agusttn Turrero and Tomas OrtizAlonso 212 Entrepreneurial Inception: The Role of Imprinting in Entrepreneurial Action Blake D. Mathias, David W. Williams and Adam R. Smith 213 Perspective Taking and Founder Equity Splits: An Experimental Study of Intersubjective Interactions Anusha Ramesh and Saras Sarasvathy 214 Input-Output Knowledge Theory: Potential and Application as a Theory of Entrepreneurial Cognition Elaine C. Rideout 215 Living Forever: Entrepreneurial Overconfidence and Subjective Life Expectancy Cornelius A. Rietveld, Patrick J.F. Groenen, Philipp D. Koellinger, Matthijs J.H.M. van der Loos and A. Roy Thurik 216

8 DETAILED TABLE OF CONTENTS xxiii The Impact of Cognition on New Value Creation within the Institutional Theory Perspective Senay Sabah-Kiyan, Akin Kocak and Alper Ozer 217 Ability vs. Opportunity Outcomes: What Type of Entrepreneurial Confidence Posters Venture Creation? Laurent Vilanova and Ivana Vitanova 218 Entrepreneurial Optimism in Developing Economies: A Source of Unrealistic Bias or a Potential Benefit? Matthew S. Wood, Steven Bradley and Kendali Artz. 219 Overcoming Path-Dependency with Entrepreneurial Self-Efficacy Ronny Baierl, Dietmar Grichnik and Andreas Herrmann 220 Opportunity Development and High-Tech Venture Outcomes MatthewR. Marveland G.T.Lumpkin 221 Epiphany and Evolution: How Does Entrepreneurial Judgment Change With Time? Ugur Uygur and SungMin Kim 222 Is it Worth Flanning for Failure? When and How? Yasuhiro Yamakawa 223 Entrepreneurial Symbioses: Entrepreneurs' Psychological Ownership, Decision Making and Growth Ronit Yitshaki, Orly Wodnizki and Fredric Kropp 224 VI. ENTREPRENEURIAL MOTIVATIONS NATIONAL FEDERATION OF INDEPENDENT BUSINESS (NFIB) AWARD FOR EXCELLENCE IN RESEARCH ON THE GENERAL TOPIC OF ENTREPRENEURSHIP Understanding Fear of Failure in Entrepreneurship: A Cognitive Process Framework James C. Hayton, Gabriella Cacciotti, Andres Giazitzoglu, J. Robert Mitchell and Chris Ainge What do Entrepreneurs Talk about When They Talk about Failure? William B. Gärtner and Amy E. Ingram 240 Goal Setting, Goal Striving, and Goal Attainment: A Longitudinal Study of Entrepreneurs' Motivation Gordon K. Adomdza and Leon Schjoedt 254 The Effect of Enterprises' Growth Orientation and Access to Finance on Small Firm Performance in a Global Economic Recession Marc Cowling and Weixi Liu 255 Explaining Entrepreneurial Performance of Solo Self-Employed from a Motivational Perspective Nardo de Vries, Werner Liebregts and Andre van Stel 256

9 FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 From Parental Role Models to Entrepreneurial Intention: Key Mediating Factors across Three Cultures Xiaohua Lirt, Alan Carsrud, Malin Brännback andakin Kogak 257 The Equity Structure of New Ventures: How Founders Decide Whether and How to Share Ownership Juan Quiroga 258 Advice before the Journey: The Role of Knowledge, Start-Up Assistance, and Advice in the Formation of Entrepreneurial Intent Mark T. Schenkel, Rodney R. D'Souza and Jeffrey R. Cornwall 259 Bouncing Back After a Period of Doubt: Does Mentoring Help Entrepreneurs Get a Second Wind? Etienne St-Jean andamelie Jacquemin 260 Passionate Entrepreneurs Improvise More with Their Resources - and that Helps Them Stay Afloat Pekka Stenholm and Maija Renko 261 Reconsidering Serial Entrepreneurs: Intervening Employment Experience as the Missing Link Dan K. Hsu, Ben Powell and Betty S. Coffey 262 VII. ENTREPRENEURIAL NETWORKS How Entrepreneurs' Fairness Perceptions Influence Cooperation Processes Elco van Burg Isabelle Reymen, Victor Gilsing and Georges Romme 263 Causation and Effectuation in the Process of Entrepreneurial Networking Tamara Galkina 278 Your Social Skills Unlock the World of Resources: How Entrepreneurs' Social Skills Impact their Resource Acquisition Kim Klyver and Mette S0gaard Nielsen 279 How Entrepreneurial Trials Shape Enabling Network Dynamics? Wadid Lamine, SarfrazA. Mian and Alain Fayolle 280 How Material Artifacts Impact Entrepreneurial Networking Process? Wadid Lamine, Alain Fayolle and Sarah Jack 281 How Entrepreneurs' Knowledge and Reliance on Network Ties Relate to Startup Performance Diane M. Sullivan, William R. Meek and Cameron M. Ford 282

10 DETAILED TABLE OF CONTENTS Exit: The Effects of Embeddedness of the Firm and the Entrepreneur Nancy Forster-Holt and Jason Harkins 283 Pass On the Good Vibes: How Resource Endowment Exchanges Across Individuais Mette Sogaard Nielsen and Kim Klyver 284 VIII. WOMEN ENTREPRENEURSHIP The Role of Gender in Entrepreneur-Investor Relationships: A Signaling Theory Approach Gry Agnete Alsos and Elisabet Ljunggren 285 Pitch Like A Man: Gender Stereotypes and Entrepreneur Pitch Success Lakshmi Balachandra, Anthony R. Briggs, Kimberly Eddieston and Candida Brush 300 Women of Business or the Business of Women: Projecting Dollar Appeal Lakshmi Balachandra, Chris Welter and Patti Greene 315 Gender and Commitment to the Family Entrepreneurial Venture GraceKim 316 Gender Differences in Entrepreneurship: Assessing Perceptions of Entrepreneurial Outcomes among Men and Women Entrepreneurs William R. Meek and Diane M. Sullivan 317 Gender of Ownership and the Growth of Young Enterprises Allan Riding, Barbara Orser and Owen Jung 318 Challenging the Female Underperformance Hypothesis Roxanne Zolin and John Watson 319 Women Entrepreneurship in the Eco Region: Do Financial, Human and Social Capital Matter? SarfrazA. Mian, Emine Esra Karadeniz and Leyla Sarfaraz 320 IX. TEAMS Preventing Dysfunctional Conflict: Examining the Relationship between Different Types of Managerial Conflict in VC Backed Firms Bradley George, Truls Erikson and Annaleena Parhankangas 321 Sensemaking In Leadership Change - How TMTs of Entrepreneurial Firms Move on after the Founder's Love Affair Ends Caroline N. Kaehr Serra and Stefano Borzillo 336

11 FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 The Impact of Regional Human Capital and Socio-Cultural Institutions on the Functional Composition of Founding Teams Siddharth Vedula, William R. Forster, JenniM. Dinger and Michael J. Conger 337 The Impact of Socio-Demographic Dissimilarity on the Longevity of External Directors in Family Firms Karin Hellerstedt, Miriam Bird and Karl Wennberg 338 Founding Team Ownership Distribution: Perceived Justice and Commitment David Noack, Douglas R. Miller, Nathan Neale, Arvin Sahaym and Jonathan D. Arthurs..339 Human Capital Shortages and Entrepreneurial Firm Performance: A Long-Run Perspective Josh Siepel and Gordon Murray 340 X. GOVERNANCE THE STEVENS INSTITUTE OF TECHNOLOGY WESLEY J. HOWE AWARD FOR EXCELLENCE IN RESEARCH ON THE TOPIC OF CORPORATE ENTREPRENEURSHIP Imprinting or Institutionalization? Examining How Social Capital is Transferred during Founder-CEO Successions BretR. Fund 341 Nascent Govemance: The Impact of Entrepreneurial Finance On Board Formation and Roles Christophe Bonnet, Peter Wirtz and Martine Seville 356 The Emergence of Organizational Properties: Evidence from Pre-Operational Businesses Scott R. Gordon and Per Davidsson 357 Keeping Things in the Family? The Influenae of Non-Family Govemance on the EO-Performance Relationship Stefania Migliori, Eleonora Monaco, Augusta Consorti and Paul Steffens 358 Which Combinations of New Venture Firms' Resources Payoff? A Configurational Perspective Artur Baldauf, Simone A. Schweiger and Adrian Wuethrich 359 The Influenae of Environmental Munificence on the Value of Board Human and Social Capital in IPOs Sam Yul Cho, Jonathan Arthurs, Daeil Nam, Sangyoun Lee and Sakdipon Juasrikul. 360 Where Do Boards Come From? Imprinting Effects of Early Stage Board Composition and Performance of Venture-Backed Startups Bret R. Fund 361

12 DETAILED TABLE OF CONTENTS xxvii The Dimensionality of Organizational Performance in Entrepreneurial Orientation Research: A Comprehensive Review and Suggestions for Future Research Vishai K. Gupta and William }. Wales 362 Neither Open nor Closed: Organizational Boundary Permeability and New Venture Growth Robert Nason and Johan Wiklund 363 Legitimate to Whom? Legitimacy Judgment Asymmetries as Institutional Entrepreneurship Opportunities Andrew Sutton and Tim R. Holcomb 364 XI. STRATEGY Boundary Conditions of Business Model Dynamics: New Ventures in Nascent Markets Bart Clarysse, Mike Wright and Charlotte Pauwels 365 Avoiding Capability Traps through Contingent Contracts: Cash and Knowhow in Startups S. Sinan Erzurumlu, Nitin Joglekar, Moren Levesque and Fehmi Tanrisever 380 Making Wine and Making Successful Wineries: Resource Development in New Ventures G. Page West III and Ian M. Taplin 395 Signaling Legitimacy: An Analysis of Media for Successful and Failing New Ventures Andrew Zacharakis and Alisa Boguslavskaya 410 Building Interorganizational Networks in an Emerging Economy: The Role of Cognitive Legitimacy Wafa N. Almobaireek, Ahmed A. Alshumaimeri and Tatjana S. Manolova 424 Mobility Barriers within Strategie Croups: A Longitudinal Examination of Nascent Firms Alejandro Amezcua and Tiago Ratinho 425 How do Business Models Evolve and Translate into Organizational Routines and Processes? An Empirical Examination of Tech Startups in Washington, DC Metro PunitArora 426 Persistence and Evolution of Entrepreneurial Orientation: A Dynamic Capability Approach Tommy H. Clausen 427 Business Model Change and Performance of Early-Stage Entrepreneurial Firms Sergio Costa 428 The Role of Human and Social Capital in Business Model Adaptation of New Ventures Antonio G. Dottore and J. Henri Burgers 429 Entrepreneurial Orientation and Firm Performance: A Longitudinal Perspective Vishai K. Gupta, Andreas Engelen and Alex Franke 430

13 FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 Multi-Dimensional View on Entrepreneurial Orientation: A Longitudinal Cross-Country Study of Environmental and Performance Effects Artur Baldauf, Tatiana Romanova Stettierand Galina Shirokova 431 The Influence of Strategy and Human Capital on New Venture Failure Modes Espen J. Isaksen 432 Boundary Spanning in the Entrepreneurial Firm: Effects on Innovation and Firm Performance Laurel F. Ofstein and Rod Shrader 433 XII. FAMILY ENTERPRISE Exploring the Tension between Strategie Resource Characteristics: Evidence from Indian Slum Households David Gras and Robert S. Nason 434 How Much Family is Necessary? The Impact of the Family on Firm Growth Miriam Bird 449 R&D Investment in Family and Non-Family Start-Ups: A Behavioral Perspective Nicolas Classen and Martin Carree 450 Dominant Logics in Publicly Traded Family-Controlled Firms: A Behavioral Theory Perspective Rieh Gentry, ClayDibrell, Jaemin Kim and Samantha Fairclough 451 Individual Dimensions of Entrepreneurial Orientation (EO) Construct, Resources and Firm Growth: Evidence from Indian Small & Medium Enterprises (SMEs) Rakesh Gupta and Prashant Gupta 452 Capital Constraints and the Performance of Entrepreneurial Firms in Vietnam Hien Thu Tran and Enrico Santarelli 453 XIII. THE ORGANIZATION AND NETWORKS Network and Path Building Processes in Emerging Ventures Juliana Iarossi, Mark Keil and Benjamin Oviatt 454 Exploring Business Model Dynamics: A Longitudinal Approach Tobias Mathar 455 Resource Contributions from External Actors and New Venture Innovation Speed in Academic Spin-Offs Einar Rasmussen

14 DETAILED TABLE OF CONTENTS xxix XIV. ENVIRONMENT Renewable Energy Emergence in the European Union: The Role of Entrepreneurs, Social Norms and Policy Raquel Antolin-Lopez, Jeffrey York and Javier Martinez-del-Rio 457 Priming the Pump: Demand-Side Drivers of Entrepreneurial Activity Richard A. Hunt 472 Performance Differentials of Agglomeration and Strategie Croups: A Test of Incubation and New Venture Strategy Alejandro Amezcua, Tiago Ratinho and Parvathi Jayamohan 487 Institutional Regimes, Entrepreneurship and Growth in European Regions Krista Bruns, Niels Bosma and Mark Sanders 488 Opportunity Shaping: Demand Side Influences On New Venture Business Model Innovation Jon C. Carr, Daniela P. Blettner and Isabell M. Welpe 489 The Entrepreneurial Kaleidoscope: International Social Constructions of the Entrepreneur - A Metaphorical Study Alice de Koning and Sarah Drakapoulou Dodd 490 The Blessing of Necessity and Advantages of Newness Benson Honig, Tomas Karlsson and Gustav Hägg 491 Legitimacy and Resources Flows In Base-Of-The Pyramid Market Geoffrey Kistruck, Justin Webb, Christopher Sutter and Anastasia Bailey 492 Self-Employed but Looking: A Labor Market Experiment Philipp D. Koellinger, Julija Meli, Irene Pohl, Christian Roessler and Theresa Treffers 493 Culture as a Driver of Entrepreneurship: Contrasting Independent Entrepreneurship versus Employee Entrepreneurship Paul Steffens and Michael Stützer 494 Radicalness of Technological Base, Pace of Technological Development, and Performance of Young Technology-Based Firms Joachim Tischler and Achim Walter 495 Is Corruption A Barrier to Firm Innovativeness? A Cross-National Comparison of Emerging and Mature Market Economies Vartuhi Tonoyan and GarryBruton 496 The Interplay between Environmental Norms and Venture Capital Supply on Driving Entrepreneurial Entry into the Clean Tech Sector Siddharth Vedula and Jeffrey G. York 497

15 FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 The Interplay of Individual and Contextual Factors in the Formation of University Start-Ups A Multi-Level Analysis of Nascent Entrepreneurs Heiko Bergmann, Christian Hundt and Rolf Sternberg 498 Explaining New Firm Creation in Europe - A Multi-Level Analysis Based Upon Data of Individuais, Regions, and Countries Christian Hundt and Rolf Sternberg 499 Blow-Ins Locals and Natives: Social Embeddedness and Entrepreneurial Performance in the Gaeltachts Bryan T. Stinchfield and Emer Ni Bhrädaigh 500 XV. INTERNATIONAL Foreign Direct Investment and Domestic Entrepreneurship: What are the Linkages? Segil Hülya Danakol, Saul Estrin, Paul Reynolds and Utz Weitzel. 501 Growth Aspirations and Social Capital of Young Firms' Owners and Managers in a Post-Conflict Environment Adnan Efendic, Tomasz Mickiewicz and Anna Rebmann 502 Exploring Expatriate Entrepreneurship Nedim Efendic and Zeynep Yetis 503 International Market Exit and Survival of Small and Medium Sized Enterprises Jonas Onkelinx, Tatiana S. Manolova and Linda E Edelman 504 Path Creating and Path Breaking: The Effects of Initial International Entries on Venture Growth and Performance David W. Williams and Denis A. Gregoire 505 Resource Mobility and Early Internationalization of New Ventures R. Isil Yavuz and Sri Zaheer 506 Institutions and the Rate of Formal and Informal Entrepreneurship across Countries Zoltan J. Acs, Sameeksha Desai, Pekka Stenholm and Robert Wuebker 507 International Collaborations and Open Innovation Capabilities of SMEs: The Effect of Institutional Factors Marine Falize and Regis Coeurderoy 508

16 DETAILED TABLE OF CONTENTS XXXI XVI. CORPORATE ENTREPRENEURSHIP Competitive Advantage through Entrepreneurial Decision-Behavior: Effectuation for Fast Problem-Solving Matthias Blauth and Rene Mauer 509 The Cultural Embeddedness of Entrepreneurial Orientation - A Multilevel Study Michael Buchsteiner and Andreas Engelen 510 Multilevel Contingencies in the Relationship between Personal Initiative and Job Performance of Middle Managers Lotte Glaser and Wouter Stam 511 Uncovering the Determinants of Initiative Survival in Corporate Venture Units: A Multi-Stage Selection Perspective Monica Masucci, James C. Hayton and Stefano Brusoni 512 Pro-Entrepreneurial Architectures and Relational Influences: Design Implications for Creative Self-Efficacy and Innovative Behavior Mark T. Schenkel, Deborah V. Brazealand Suresh Kumar 513 The Cornerstones of SMEs Entrepreneurial Orientation: A New Perspective Cristina Bettinelli, Kathleen Randerson and Giovanna Dossena 514 Reaping their Just Desserts? An Examination of How Corporate Entrepreneurs are Punished and Rewarded within the Workplace YvetteP. Lopez, Justin W. Webb and Christopher Pryor 515 Spin-Off Formation Processes in the Context of Adverse Corporate Events Colm O'Gorman, Declan Curran and Chris van Egeraat 516 Where does Effectual Decision Making Originale from? A Multilevel, 12-Country Examination Klaus Willmann 517 XVII. PUBLIC POLICY The Perceived Value of Inventor Status Sharon Dolmans, Scott Shane, Joseph Jankowski, Isabelle Reymen and Georges Romme 518 Entrepreneurial Narrative Networks: Routines for Overcoming Uncertainties in Academic Entrepreneurship and the Commercialization of Science phillip H. Kim and Reddi Kotha 531 Training Mentors: A Way to Ensure the Quality of Mentoring Outcomes for Novice Entrepreneurs? Etienne St-Jean and Stephanie Mitrano-Meda 532

17 TTTÜ FRONTIERS OF ENTREPRENEURSHIP RESEARCH 2013 Directions for a New African Entrepreneurship Research Agenda: Portfolio Entrepreneurship as a Solution to Africa's Impending Employment Dilemma Antonio C. Malfense Fierro and David Noble 533 Successful Entrepreneurship Policy - A Matter of Organizing? Pia Schou Nielsen 534 XVIII. SOCIAL ENTREPRENEURSHIP THE G. DALE MEYER AWARD FOR THE MOST RELEVANT RESEARCH IN SOCIAL ENTREPRENEURSHIP Microfinance Institutions as Social Entrepreneurs: When do They Fulfill a Social Mission? Mariarosa Scarlata, Jonathan Kimmitt and Dimo Dimov. 535 THE JOURNAL OF SMALL BUSINESS MANAGEMENT (JSBM) AWARD FOR EXCELLENCE IN RESEARCH ON THE TOPIC OF PUBLIC POLICY Is Microcredit a Blessing for the Poor? A Meta-analysis Myrto Chliova, Jan Brinckmann and Nina Rosenbusch 550 The Formation of Opportunity Feasibility Reliefs in Social Entrepreneurship: A Configurational Analysis of Institutional Conditions Pablo Munoz and Ewald Kibler 565 If You Build It, Will They Stay? Mission Stability in Nascent Social Ventures E. Erin Powell and Ted Baker 580 Social Capital, Social Innovation and Social Impact Christiana Weber, James Wallace and Anja Tuschke. 595 Catalyzing Social Innovation: Is Entrepreneurial Bricolage always Good? Jill Kickul, Sophie Bacq and Niharika Garud 610 Social Investing - What Matters from the Perspective of Social Enterprises? Judith Mayer and Barbara Scheck 611 Picking up The Slack: Social Venture Creation under Market Failure Conditions Karla I. Mendoza-Abarca and Sergey Anokhin 612 Comparing the Motivations of Social and Commercial Entrepreneurs Scott L. Newbert, Narda R. Quigley and Kevin D. Clark 613 Resisting Pressure? Longitudinal Evidence on Mission-Drift in Hybrid Organisations Ute Stephan 614 A Business Model Canvas for Social Enterprises Virginie Vial 615

18 DETAILED TABLE OF CONTENTS min XIX. ENTREPRENEUR OTHER Does It Matter How You Teil It? How Entrepreneurial Storytelling Affects the Opportunity Evaluation«of Early-Stage Investors ]aume Villanueva, Harry J. Sapienza and Richard J. Sudek 616 Gelting Off On the Right Foot: Identifying Persistent Configurations of Initial Resources, Strategy and Environment that Enable Start-Ups to Achieve a Sustainable Competitive Advantage Jonas Debrulle, Koen W. De Bock, Sophie De Winne and Luc Sels 631 Does Country Matter for the Performance of New Ventures? Markus Fitza, Michael Dowling and Claudia Doblinger 632 Entrepreneurial Firms Engaging in Social Innovation: New Structures, Values, and Mission Raymond J. Jones III and Manjula S. Salimath 633 High-Growth Expectation Entrepreneurship: Insights from a Gender Approach Matilde Ruiz-Arroyo, Ana M. Bojica and Jenny M. Ruiz-Jimenez 634 New Venture Legitimacy and Its Role in Supplier Selection Decision-Making Boris W. Zaremba, Christoph Bode and Stephan M. Wagner 635