1 MGMT 584 Entrepreneurship PhD Seminar Instructor: Office: Office Hours: Office Phone: Class Time: Class Location: E-mail: Professor Jonathan Arthurs 340G Todd Hall By appointment (509) 335-5628 N/A N/A [email protected] 4. Each student should be able to communicate, both verbally and in writing, current knowledge, critical evaluations and new ideas in entrepreneurship topics developed in this course. Readings: Course Description: In putting together the reading list, I have sought to provide a balance between breadth and depth of the topics that can be included in entrepreneurship. But this is not as easy as it sounds. Entrepreneurship can cover so many topics. The first eight readings each week are required and any after the first eight are therefore optional readings. However, I am going to have you also read Scott Shane’s book. Shane, S. 2004. A general theory of entrepreneurship: The individual-opportunity nexus. Edward Elgar Publishing, Inc., Northampton, MA. This course provides an overview of entrepreneurship research. It examines important managerial issues in entrepreneurship from different theoretical perspectives, including strategic management, organization theory, economic sociology, and economics. The course is designed to cover multiple levels of analysis of the field. Beyond the basic understanding of the principal theories, the goal is develop interest for rigorous empirical research in entrepreneurship. In a nutshell, the sine qua non of entrepreneurship is the “opportunity.” This is the thing that separates entrepreneurship from other fields of study. So the readings are intended to help you to understand how an individual (or an organization) goes about identifying an opportunity and pursuing it to fruition. Please note that many of the articles will be accessible online through the BusinessSource database provided through the library. Course Objectives: Format and Evaluation: This course is intended to provide students with a detailed, in depth coverage of selected topics in the entrepreneurship literature. Additionally, the course will emphasize the following objectives: Because this is a directed/independent study, you will be required to read the chapters from Shane’s book as well as eight of the readings (the first eight listed are required and the remaining ones are optional readings). I would like for each of you to complete two summaries per week and exchange them (via e-mail – make sure you CC me!). Additionally, I will require a term paper. 1. Each student should develop an understanding of and appreciation for the concepts and research in these topic areas. 2. Each student should be able to critically review academic and practitioner research and develop constructive reviews of such research. 3. Each student should be able to formulate ideas that advance theory or research in the field. Course Requirements: There are two course requirements, a paper, and summaries of the readings. Research Proposal/Conceptual paper A major paper is due at the end of the semester (summer) that can take two forms. One alternative is to write a conceptual manuscript that could be submitted to the Academy of Management Review, after further revision. Certainly the quality should be adequate to send to a national meeting. This is not just a term paper, but rather 2 a quality manuscript that has been substantially refined. This paper must be an original work and also must be relevant to the topics covered in the course. Alternative two is to develop a major research proposal that would become an empirical paper. I realize that it is often impractical to obtain a dataset during the semester. So this paper would be a regular empirical paper without the actual data analysis. This proposal would include justification of the research question, theoretical background, literature review of research on the question (including your value added contribution), and research design to test the question. Naturally, if you already have the data, you can complete the empirical paper during the semester. Please note that the outline of the paper is due at the end of the 5th week of the course. The first draft of your paper is due at the end of the 10th week of the course. Your final draft is due at the end of the final week of readings. Papers should not exceed 30 pages of text (exclusive of references, exhibits, tables, figures, and references). My hope for you is that you could have a paper that could be submitted to an Aor better journal at the end of the summer or in early fall. Article Summaries: Each student will complete 2 article summaries each week (depending on the number of readings and the number of students in the class). These summaries will be from one to two pages (single spaced) in length, typed, and will have the following format: 1. 2. 3. 4. 5. 6. Title of reading: complete title and citation. Summarized by: student’s name. Purpose of reading: this section should describe how this reading fits in a broader stream of research, why it was written, what the fundamental objective of the reading is, etc. Theoretical argument: summarize theoretical arguments of the reading, its basic assumptions, its major propositions, etc. Methodology: this section should briefly summarize the research methods (if any) used. Results and conclusions: this section should summarize any empirical results, any theoretical conclusions, implications of the reading, etc. Tentative Schedule: Date Topic Wk1 Fri Introduction to Course Wk2 Fri Entrepreneurial Opportunities Wk3 Fri Resources Wk4 Fri Organizing Wk5 Fri The Entrepreneur 1 – Entrepreneurial Orientation and Intentions Outline of Research Proposal Due Wk6 Fri Initial Public Offerings (IPO) 1 Wk7 Fri IPO 2 Wk8 Fri Venture Capital Wk9 Fri Networks and Alliances and Status Wk10 Fri Institutional Effects and Legitimacy First Draft of Paper is due Wk11 Fri Social Entrepreneurship Wk12 Fri Performance and Growth Issues Wk13 Fri Entrepreneurs 2 – Other Stuff Wk14 Fri Founders and TMT Wk15 Fri Family Business Final Paper Due 3 NOTES: Students with Disabilities: Students with Disabilities: Reasonable accommodations are available for students with a documented disability. If you have a disability and may need accommodations to fully participate in this class, please visit the Access Center (Washington Building 217) to schedule an appointment with an Access Advisor. All accommodations MUST be approved through the Access Center. WSU's Academic Integrity Statement* "As an institution of higher education, Washington State University is committed to principles of truth and academic honesty. All members of the University community share the responsibility for maintaining and supporting these principles. When a student enrolls in Washington State University, the student assumes an obligation to pursue academic endeavors in a manner consistent with the standards of academic integrity adopted by the University. To maintain the academic integrity of the community, the University cannot tolerate acts of academic dishonesty including any forms of cheating, plagiarism, or fabrication. Washington State University reserves the right and the power to discipline or to exclude students who engage in academic dishonesty." *Can be found on page 136 of current WSU Spokane Student Handbook. Academic Integrity Statement and link to WSU’s policy: www.conduct.wsu.edu/default.asp?PageID=343 www.wsulibs.wsu.edu/plagiarism/main.html Campus Safety: The Campus Safety Plan, which can be found at http://safetyplan.wsu.edu, contains a comprehensive listing of University policies, procedures, statistics, and information relating to campus safety, emergency management, and the health and welfare of the campus community. All faculty, staff, and students are encouraged to visit this web site as well as the University emergency management web site at http://oem.wsu.edu/Emergencies to become familiar with the campus safety and emergency information provided. 4 1/14 Introduction to Course Discussion of the syllabus Baumol, W.J. 1990. Entrepreneurship: Productive, unproductive, and destructive. Journal of Business Venturing, 11: 3-22. Shane (2004) Chapters 1, 2, and 3. 5 Eckhardt, J.T., and Shane, S.A. 2003. Opportunities and entrepreneurship. Journal of Management, 29(3): 333-349. 1/21 Entrepreneurial Opportunities Shane (2004) Chapters 4 and 5. Companys, Y.E., and McMullen, J.S. 2007. Strategic entrepreneurs at work: The nature, discovery, and exploitation of entrepreneurial opportunities. Small Business Economics, 28: 301-322. Buenstorf, G. 2007. Creation and pursuit of entrepreneurial opportunities: An evolutionary economic perspective. Small Business Economics, 28: Holcombe, R.G. 2003. The origins of entrepreneurial opportunities. The Review of Austrian Economics, 16(1): 25-43. Denrell, J., Fang, C. & Winter, S. 2003. The Economics of Strategic Opportunity. Strategic Management Journal. 24: 977-990. Vaghely, I.P., and P. Julien. 2010. Are opportunities recognized or constructed? An information perspective on entrepreneurial opportunity identification. Journal of Business Venturing, 25: 73-86. Demmert, H., and Klein, D.B. 2003. Experiment on entrepreneurial discovery: An attempt to demonstrate the conjecture of Hayek and Kirzner. Journal of Economic Behavior & Organization, 50: 295-310. McMullen, J.S., Plummer, L.A., and Acs, Z.J. 2007. What is an entrepreneurial opportunity? Small Business Economics, 28: 273283. Kirzner, I. M. 1997. Entrepreneurial discovery and the competitive market process: An Austrian approach. Journal of Economic Literature, 35(March): 60-85. Shane, S., and Venkataraman, S. 2000. The promise of entrepreneurship as a field of research. Academy of Management Review, 26: 13-17. 6 based ventures. Strategic Entrepreneurship Journal, 2(4): 339-355. 1/28 Resources Shane (2004) Chapters 6, 7, and 8. Alvarez, S. and Busenitz, L. 2001. The entrepreneurship of resource-based theory. Journal of Management, 27: 755-775. Kor, Y.Y., Mahoney, J.T., and Michael, S.C. 2007. Resources, capabilities and entrepreneurial perceptions. Journal of Management Studies, 44(7): 1187-1212. Rumelt, R.P. 1987. Theory, strategy, and entrepreneurship. In D. Teece (ed.), The Competitive Challenge: Strategies for Industrial Innovation and Renewal. Ballinger, Cambridge, 137-159. Davidsson, P., and Honig, B. 2003. The role of social and human capital among nascent entrepreneurs. Journal of Business Venturing, 18(3): 301-331. Clarkson, G., and Toh, P.K. 2010. “Keep out” signs: The role of deterrence in the competition for resources. Strategic Management Journal, 31(11): 1202-1225. Foss, K., and Foss, N. J. 2005. Resources and transaction costs: How property rights economics furthers the resource-based view. Strategic Management Journal, 26: 541-553. Lipman, S.A., and Rumelt, R.P. 2003. A bargaining perspective on resource advantage. Strategic Management Journal, 24: 1069-1086. Lipman, S.A., and Rumelt, R.P. 2003. The payments perspective: Microfoundations of resource analysis. Strategic Management Journal, 24: 903-927. Townsend, D.M. and Busenitz, L.W. 2009. Factor payments, resourcebased bargaining, and the creation of firm wealth in technology- Rumelt, R.P. 1984. Towards a strategic theory of the firm. In R. B. Lamb, (ed.), Competitive Strategic Management, Prentice Hall, Engelwood Cliffs, NJ: 556-570. 7 Venturing, 22(3): 412-426. 2/4 Organizing Shane (2004) Chapters 9, 10, and 11. Jacobides, M.G., and Winter, S.G. 2007. Entrepreneurship and firm boundaries: The theory of A firm. Journal of Management Studies, 44(7): 1213-1241. Baker T, and Nelson, R.E. 2005. Creating something from nothing: Resource construction through entrepreneurial bricolage. Administrative Science Quarterly, 50: 329-366. Alvarez, S.A., and Barney, J.B. 2005. How do entrepreneurs organize firms under conditions of uncertainty? Journal of Management, 32(5): 776-793. Arthurs, J.D., Busenitz, L.W., Hoskisson, R.E., and Johnson, R.A. 2009. Firm-specific human capital and the shaping of governance in IPO firms: Addressing agency and resource dependence concerns. Entrepreneurship Theory & Practice, 33(4): 845-865. Dushnitsky, G., and Shaver, J.M. 2009. Limitations to interorganizational knowledge acquisition: The paradox of corporate venture capital. Strategic Management Journal, 30(10): 1045-1064. Oktemgil, M., Greenley, G.E., and Broderick, A.J. 2000. An empirical study of isolating mechanisms in U.K. companies. European Journal of Operational Research, 122: 638-655. Liebeskind J.P. 1996. Knowledge, strategy, and the theory of the firm. Strategic Management Journal, 17 (Winter Special Issue): 93-107. Liebeskind J.P. 1997. Keeping Organizational Secrets: Protective Institutional Mechanisms and their Costs. Industrial and Corporate Change, 6: 623-663. Michael, S.C. 2007. Transaction cost entrepreneurship. Journal of Business Jacobides, M.G., Knudsen, T., and Augier, M. 2006. Benefitting from innovation: Value creation, value appropriation and the role of industry architectures. Research Policy, 35: 1200-1221. 8 2/11 The Entrepeneur 1 – Entrepreneurial Orientation and Intentions (Outline of Research Proposal Due) Krueger, N.F., Reilly, M.D., and Carsrud, A.L. 2000. Competing models of entrepreneurial intentions. Journal of Business Venturing, 15(56): 411-432. Shane, S., Locke, E.A., and Collins, C.J. 2003. Entrepreneurial motivation. Human Resource Management Review, 13(2): 257-279. Nicolaou, N., and Shane, S. 2009. Can genetic factors influence the likelihood of engaging in entrepreneurial activities? Journal of Business Venturing, 24(1): 1-22. Wiklund, J., and Shepherd, D. 2004. Entrepreneurial orientation and small business performance: A configurational approach. Journal of Business Venturing, 20(1): 71-91. Townsend, D.M., Busenitz, L.W., and Arthurs, J.D. 2010. To start or not to start: Outcome and ability expectations in the decision to start a new venture. Journal of Business Venturing, 25(2): 192-202. Baron, R.A. 2002. OB and entrepreneurship: The reciprocal benefits of closer conceptual links. Research in Organizational Behavior, 24: 225-269. Rauch, A.,& Frese, M. 2007. Let’s put the person back into entrepreneurship research: Meta-analysis on the relationship between business owners’ personality traits, business creation, and success. European Journal of Work and Organizational Psychology, 16(4): 353-385. Busenitz, L.W. & Barney, J.B. 1997. Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making. Journal of Business Venturing, 12(1): 9-30. Cardon, M.S., Zietsma, C., Saparito, P., Matherne, B.P., & Davis, C. 2005. A tale of passion: New insights into entrepreneurship from a parenthood metaphor. Journal of Business Venturing, 20(1): 2345. 9 2/18 Initial Public Offering (IPO) 1 Pollock, T.G., Porac, J.P., and Wade, J.B. 2004. Constructing deal networks: Brokers as network “architects” in the U.S. IPO market and other examples. Academy of Management Review, 29: 50-72. Certo, S.T., Holcomb, T.R., and Holmes, R.M. 2009. IPO research in management and entrepreneurship: Moving the agenda forward. Journal of Management, 35: 1340-1378. Healy, M.B., Matusik, S.F., and Jain, N. 2007. Innovation, appropriability, and the underpricing of initial public offerings. Academy of Management Journal, 50(1): 209-225. Loughran, T., and Ritter, J.R. 2002. Why don’t issuers get upset about leaving money on the table in IPOs? Review of Financial Studies, 15: 413-443. Logue, D.E., Rogalski, R.J., Seward, J.K., and Foster-Johnson, L. 2002. What is special about the roles of underwriter reputation and market activities in initial public offerings? Journal of Business, 75: 213-243. Leone, A.J., Rock. S., and Willenborg, M. 2007. Disclosure of intended use of proceedings and underpricing in initial public offerings. Journal of Accounting Research, 45(1), 111-153. Ibbotson, R., Sindelar, J., and Ritter, J. 1994. The market’s problems with the pricing of initial public offerings. Journal of Applied Corporate Finance, 7: 66-74. Jain, B.A., and Kini, O. 2000. Does the presence of venture capitalists improve the survival profile of IPO firms? Journal of Business Finance & Accounting, 27(9&10): 1139-1176. Jenkinson, T., and Ljungqvist, A.P. 2002. Going public: The theory and evidence on how companies raise equity finance (2nd ed.). New York, NY: Oxford University Press. 10 2/25 IPO 2 Morsfield, S. G., and Tan, C.E.L. 2006. Do venture capitalists influence the decision to manage earnings in initial public offerings? The Accounting Review, 81(5) 1119-1150. Stuart, T.E., Hoang, H., and Hybels, R.C. 1999. Interorganizational endorsements and the performance of entrepreneurial ventures. Administrative Science Quarterly, 44: 315-349. Bouton, T.J., Smart, S.B., and Zutter, C.J. IPO underpricing and international corporate governance. Journal of International Business Studies, 41: 206-222 Bruton, G.D., Filatotchev, I., Chahine, S., and Wright, M. 2010. Governance, ownership structure, and performance of IPO firms: The impact of different types of private equity investors and institutional environments. Strategic Management Journal, 31(5): 491-509. Dalziel, T., White, R.E., and Arthurs, J.D. 2011. Principal costs in initial public offerings. Journal of Management Studies (forthcoming). Chaddad, F.R., and Reuer, J.J. 2009. Investment dynamics and financial constraints in IPO firms. Strategic Entrepreneurship Journal, 3(1): 29-45. Arikan, A., and Capron, L. 2010. Do newly public acquirers benefit or suffer from their pre-IPO affiliations with underwriters and VCs? Strategic Management Journal, 31: 1257-1289. Ritter, J.R., and Welch, I. 2002. A review of IPO activity, pricing, and allocations. Journal of Finance, 57: 1795-1828. Baker, M., and Gompers, P.A. 2003. The determinants of board structure at the initial public offering. Journal of Law and Economics, October: 569-598. 11 3/4 organizations. Journal of Financial Economics, 27: 473-521. Venture Capital Gorman, M., Sahlman, W. 1989. What do venture capitalists do? Journal of Business Venturing, 4: 231-248. Sapienza, H.J. 1992. When do venture capitalists add value? Journal of Business Venturing, 7(1): 9-27. De Clercq, D., and D.P. Dimov. 2004. Explaining venture capital firms’ syndication behavior: A longitudinal study. Venture Capital 6: 243– 56. Hsu, D.H. 2004. What do entrepreneurs pay for venture capital? Journal of Finance, 59: 1805-1844. Dolvin, S.D., Pyles, M.K. 2006. Venture capitalist quality and IPO certification. Venture Capital, 8(4): 353-371. Cumming, D., and Johan, S. 2008. Information asymmetries, agency costs and venture capital exit outcomes. Venture Capital, 10(3): 197-231. Sapienza, H. J., and Korsgaard, M. A. 1996. Procedural justice in entrepreneur-investor relations Academy of Management Journal, 39(3): 544-574. Shepherd, D. A., Zacharakis, A., and Baron, R. A. 2003. VCs' decision processes: Evidence suggesting more experience may not always be better. Journal of Business Venturing, 18(3): 381. Kunze, R. J. 1990. Nothing ventured: The perils and payoffs of the great American venture capital game: New York: HarperCollins. (This is an awesome book). Fried, V. H., Bruton, G. D., and Hisrich, R. D. 1998. Strategy and the board of directors in venture capital-backed firms. Journal of Business Venturing, 13(6): 493. Giot, P., and Schwienbacher, A. 2007. IPOs, trade sales and liquidations: Modelling venture capital exits using survival analysis. Journal of Banking & Finance, 31(3): 679-702. Hsu, D.H. 2006. Venture capitalists and cooperative start-up commercialization strategy. Management Science, 52(2): 204-291. Jääskeläinen, M., M. Maula and T. Seppä. 2006. Allocation of attention to portfolio companies and the performance of venture capital firms. Entrepreneurship Theory & Practice, 30(2): 185-206. Lerner, J. 1994. The syndication of venture capital investments. Financial Management, 23(3): 16-27. Rosenstein, J., Bruno, A.V., Bygrave, W.D., & Taylor, N.T. 1993. The CEO, venture capitalists, and the board. Journal of Business Venturing, 8(2): 99Filatotchev I. Wright, M., and Arberk, M. 2006. Venture capitalists, syndication and governance in Initial Public Offerings. Small Business Economics Journal, 26(4): 337-350. Sahlman, W.A. 1990. The structure and governance of venture capital 3/11 Networks and Alliances and Status 12 Hoang, H., and Antoncic, B. 2003. Network-based research in entrepreneurship: A critical review. Journal of Business Venturing, 18(2): 165-187. Rothaermel, F.T., and Deeds, D.L. 2006. Aliance type, alliance experience and alliance management capability in high-technology ventures. Journal of Business Venturing, 21(4): 429-460. Lechner, C., Dowling, M., and Welpe, I. 2006. Firm networks and firm development: The role of relational mix. Journal of Business Venturing, 21(4): 514-540. Sorenson, O., and Stuart, T.E. 2008. Bringing the context back in: Settings and the search for syndicate partners in venture capital investment networks. Administrative Science Quarterly, 53: 266-294. Shane, S., and Cable, D. 2002. Network ties, reputation, and the financing of new ventures. Management Science, 48: 364-381. Baum, J.A.C., Calabrese, T., and Silverman, B.S. 2000. Don’t go it alone: Alliance network composition and startups’ performance in Canadian biotechnology. Strategic Management Journal, 21: 267294. Kale, P., Singh, H., and Perlmutter, H. 2000. Learning and protection of proprietary assets in strategic alliances: Building relational capital. Strategic Management Journal, 21: 217-237. Elfring, T., and Hulsink, W. 2003. Networks in entrepreneurship: The case of high-technology firms. Small Business Economics, 21(4): 409-422. 3/25 Institutional Effects and Legitimacy (First Draft of Paper is Due on Friday) 13 Tonoyan, V., Strohmeyer, R., Habib, M., and Perlitz, M. 2010. Corruption and entrepreneurship: How formal and informal institutions shape small firm behavior in transition and mature market economics. Entrepreneurship Theory & Practice, 34(5): 803-831. Bruton, G.D., Ahlstrom, D., and Puky, T. 2009. Institutional differences and the development of entrepreneurial ventures: A comparison of the venture capital industries in Latin America and Asia. JIBS, 40: 762778. Podolny, J.M. 1994. Market uncertainty and the social character of economic exchange. Administrative Science Quarterly, 39, 458– 483. Luo, Y., and Junkunc, M. 2008. How private enterprises respond to government bureaucracy in emerging economies: The effects of entrepreneurial type and governance. Strategic Entrepreneurship Journal, 2(2): 133-153. Li, Y., and Zahra, S. 2011. Formal institutions, culture, and venture capital activity: A cross-country analysis. In press at Journal of Business Venturing. Bell, R.G., Moore, C.B., and Filatotchev, I. 2011. Strategic and institutional effects on foreign IPO performance: Examining the impact of country of origin, corporate governance, and host country effects. In press at Journal of Business Venturing. Guler, I., & Guillen, M. F. 2010. Institutions and the internationalization of US venture capital firms. Journal of International Business Studies, 41: 185-205. Lee, S.-H., Peng, M. W., & Barney, J. B. 2007. Bankruptcy law and entrepreneurship development: A real options perspective. Academy of Management Review, 32(1): 257-272. 4/1 Social Entrepreneurship Zahra, S.A., Gedajlovic, E., Neubaum, D.O., and Shulman, J.M. 2009. A typology of social entrepreneurs: Motives, search processes,and ethical challenges. Journal of Business Venturing, 24(5): 519-532. 14 Townsend, D.M., and Hart, T.A. 2008. Perceived institutional ambiguity and the choice of organizational form in social entrepreneurial ventures. Entrepreneurship Theory & Practice, 32(4): 685-700. Nicholls, A. 2010. The legitimacy of social entrepreneurship: Reflexive isomorphism in a pre-paradigmatic field. Entrepreneurship Theory & Practice, 34(4): 611-633. Corner, P.D., and Ho M. 2010. How opportunities develop in social entrepreneurship. Entrepreneurship Theory & Practice, 34(4): 635659. Meyskens, M., Robb-Post, C., Stamp, J.A., Carsrud, A.L., and Reynolds, P.D. 2010. Social ventures from a resource-based perspective: An exploratory study assessing Global Ashoka Fellows. Entrepreneurship Theory & Practice, 34(4): 661-680. Short, J.C., Moss, T.W., and Lumpkin, G.T. 2009. Research in social entrepreneurship: Past contributions and future opportunities. Strategic Entrepreneurship Journal, 3(2): 161-194. Peredo, A., and McLean, M. 2006. Social entrepreneurship.: A critical review of the concept. Journal of World Business, 41(1): 56-65. Austin, J., Stevenson, H., and Wei S.J. 2006. Social and commercial entrepreneurship: Same, different, or both? Entrepreneurship Theory & Practice, 30(1): 1-22. 4/8 Performance and Growth Issues Coombs, J.E., Deeds, D.L., and Ireland, R.D. 2009. Placing the choice between exploration and exploitation in context: A study of geography and new product development. Strategic Entrepreneurship Journal, 3(3): 261279. 15 Short, J.C., McKelvie, A., Ketchen, D.J., and Chandler, G.N. 2009. Firm and industry effects on firm performance: A generalization and extension for new ventures. Strategic Entrepreneurship Journal, 3(1): 47-65. Zahra, S. A., Sapienza, H. J., & Davidsson, P. 2006. Entrepreneurship and dynamic capabilities: A review, model and research agenda. Journal of Management Studies, 43(4): 917-955. Kaplan, S. N., Sensoy, B. A., and Stromberg, P. E. R. 2009. Should investors bet on the jockey or the horse? Evidence from the evolution of firms from early business plans to public companies. Journal of Finance, 64(1): 75-115. Burgelman, R.A., and Grove, A.S. 2007. Cross-boundary disruptors: Powerful interindustry entrepreneurial change agents. Strategic Entrepreneurship Journal, 1(3-4): 315-327. Bradley, S.W., Wiklund, J., and Shepherd, D.A. 2011. Swinging a doubleedged sword: The effect of slack on entrepreneurial management and growth. In press at Journal of Business Venturing. Carpenter, M., Pollock, T., & Leary, M. 2003. Testing a model of reasoned risk-taking: Governance, the experience of principals and agents, and global strategy in high-technology IPO firms. Strategic Management Journal, 24(9), 802–820. Headd, B., 2003. Redefining business success: Distinguishing between closure and failure. Small Business Economics, 21(1): 51–62. 4/15 Entrepreneurs 2 – Other Stuff Gimeno, J., Folta, T.B., Cooper, A.C., and Woo, C.Y. 1997. Survival of the fittest? Entrepreneurial human capital and the persistence of underperforming firms. Administrative Science Quarterly, 42: 750783. 16 Baron, R.A., and Tang, J. 2011. The role of entrepreneurs in firm-level innovation: Joint effects of positive affect, creativity, and environmental dynamism. Journal of Business Venturing, 26(1): 4960. Hayward, M.L.A., Shepherd, D.A., and Griffin, D. 2006. A hubris theory of entrepreneurship. Management Science, 52(2): 160-172. Baron, R.A., and Henry, R.A. 2010. How entrepreneurs acquire the capacity to excel: Insights from research on expert performance. Strategic Entrepreneurship Journal, 4(1): 49-65. McKelvie, A., Haynie, J.M., and Gustavsson, V. 2011. Unpacking the uncertainty construct: Implications for entrepreneurial action. In press at Journal of Business Venturing. Patzelt, H., and Shepherd, D.A. 2011. Negative emotions of an entrepreneurial career: Self-employment and regulatory coping behaviors. In press at Journal of Business Venturing. Kim, P.H., Aldrich, H.E., and Keister, L.A. 2006. Access (not) denied: The impact of financial, human, and cultural capital on entrepreneurial entry in the United States. Small Business Economics, 27: 5-22. DeTienne, D. R. 2009. Entrepreneurial exit as a critical component of the entrepreneurial process: Theoretical development. Journal of Business Venturing. 4/22 Founders and TMT Boeker, W., and Fleming, B. 2010. Parent firm effects on founder turnover: Parent success, founder legitimacy, and founder tenure. Strategic Entrepreneurship Journal, 4(3): 197-267. Pollock, T.G., Fund, B.R., and Baker, T. 2009. Dance with the one that brought you? Venture capital firms and the retention of founder- 17 CEOs. Strategic Entrepreneurship Journal, 3(3): 199-217. Parker, S.C. 2009. Can cognitive biases explain venture team homophily? Strategic Entrepreneurship Journal, 3(1): 67-83. Nelson, T. 2003. The persistence of founder influence: management, ownership, and performance effects at initial public offering. Strategic Management Journal 24: 707-724. Wasserman, N. 2003. Founder-CEO Succession and the paradox of entrepreneurial success. Organization Science, 14(2): 149-172. Zimmerman, M.A. 2008. The influence of top management team heterogeneity on the capital raised through an initial public offering. Entrepreneurship Theory & Practice, May: 391-414. Wasserman N. 2006. Stewards, agents, and the founder discount: Executive compensation in new ventures. Academy of Management Journal, 49(5): 960-976. Sapienza, H. J., & Grimm, C. M. 1997. Founder characteristics, start-up process, and strategy/structure variables as predictors of shortline railroad performance. Entrepreneurship Theory & Practice, 22(1): 5-23. 4/29 Family Business Lim, E.N.K., Lubatkin, M.H., and Wiseman, R.M. 2010. A family firm variant of the behavioral agency theory. Strategic Entrepreneurship Journal, 4(3): 197-211. Zellweger, T., Sieger, P., and Halter, F. 2011. Should I stay or should I go? Career choice intentions of students with family business background. In press at Journal of Business Venturing. 18 Block, J.H. 2011. R&D investments in family and founder firms: An agency perspective. In press at Journal of Business Venturing. Le Breton-Miller, I., and Miller, D. 2009. Agency vs. stewardship in public family firms: A social embeddedness reconciliation. Entrepreneurship Theory & Practice, 33(6): 1169-1191. Villalonga, B. and R. Amit. 2006. How do family ownership, management and control affect firm value?, Journal of Financial Economics 80(2): 385-415. Westhead, P., M. Cowling, and C. Howorth. 2001. The development of family companies, Family Business Review 14(4): 369-385. Miller, D., I. Le Breton-Miller, and B. Scholnick. 2008. Stewardship vs. stagnation in small family vs. non-family firms, Journal of Management Studies 45(1):51-78. Lubatkin, M.H., Y. Ling, and W. Schulze. 2007. An organizational justicebased view of self-control and agency costs in family firms, Journal of Management Studies 44(6): 955-971. Cruz, C., Justo, R., and De Castro, J.O. 2011. Does family employment enhance MSEs performance? Integrating socioemotional wealth and family embeddedness perspectives. In press at Journal of Business Venturing. Chua, J.H., Chrisman, J.J., Kellermanns, F. and Wu, Z. 2011. Family involvement and new venture debt financing. In press at Journal of Business Venturing.