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DYNAMIC ENTREPRENEURIAL NETWORKS: AN INVESTIGATION OF ENTREPRENEURS, NEW VENTURES AND THEIR NETWORKS
Title
DYNAMIC ENTREPRENEURIAL NETWORKS: AN INVESTIGATION OF ENTREPRENEURS, NEW VENTURES AND THEIR NETWORKS.
Creator
Sullivan, Diane, Ford, Cameron, University of Central Florida
Abstract / Description
Entrepreneurs need resources to organize new venture offerings into marketplace-acceptable forms. Entrepreneurs use others' assistance via networks to obtain these resources. Research indicates that firms face resource dependencies, that likely change over time, where they must respond to those controlling resources. Although some work has investigated implications of new ventures' networks at one time period, little work has investigated the dynamic nature and associated outcomes of networks...
Show moreEntrepreneurs need resources to organize new venture offerings into marketplace-acceptable forms. Entrepreneurs use others' assistance via networks to obtain these resources. Research indicates that firms face resource dependencies, that likely change over time, where they must respond to those controlling resources. Although some work has investigated implications of new ventures' networks at one time period, little work has investigated the dynamic nature and associated outcomes of networks as they change due to different resource requirements as the venture develops. This research examines the dynamic nature of networks, due different resource requirements over time, and how these changes impact entrepreneurial outcomes via interactions with entrepreneurs' existing networks. In order to account for the dynamic nature of entrepreneurial new ventures and their networks of resource providers, a model is presented that investigates antecedents to subsequent entrepreneurial network characteristics. The model also anticipates changes eminent to the founder as a consequence of interactions with their networks due to experiences associated with the new venture development process. This work relies on network theory integrated with resource dependence theory arguments, work that examines founder attributes as associated with entrepreneurial outcomes and research that investigates the stages of new venture development. Predictions developed from the model were tested in two studies. The first study utilized the Panel Study of Entrepreneurial Dynamics, an existing panel database containing information about nascent entrepreneurs, as its data source to test predictions examining the dynamics of entrepreneurs' networks across two time frames. The second study used a cross-sectional mass mail survey design to investigate all of the model's predictions on a random sample of newly incorporated firms in the state of Florida. The results of the studies provided support for about one third of the predictions and there were a few contrasting findings across studies. Overall, the results of the studies suggest that some conceptualizations presented in the theoretical model should be reevaluated and that the applicability of some constructs when studying firms in the organizing stages of development should be reconsidered.
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Date Issued
2006
Identifier
CFE0001173, ucf:46863
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0001173
A MEASURE OF ENTREPRENEURIAL RISK PREFERENCE AND OPTIMISM USING FIELD EXPERIMENTS
Title
A MEASURE OF ENTREPRENEURIAL RISK PREFERENCE AND OPTIMISM USING FIELD EXPERIMENTS.
Creator
Schneider, Mark, Elston, Julie, University of Central Florida
Abstract / Description
Previous studies have underscored the economic importance of the role of the entrepreneur, and empirical studies testing the nature of the entrepreneur are notably lacking. This study directly addresses this issue by examining newly gathered field data which captures the decision making and risk behaviors for a group of high-technology entrepreneurs. Two decision making tasks were used to elicit risk aversion measures and to test for any 'joy of winning' or judgmental errors, possibly in the...
Show morePrevious studies have underscored the economic importance of the role of the entrepreneur, and empirical studies testing the nature of the entrepreneur are notably lacking. This study directly addresses this issue by examining newly gathered field data which captures the decision making and risk behaviors for a group of high-technology entrepreneurs. Two decision making tasks were used to elicit risk aversion measures and to test for any 'joy of winning' or judgmental errors, possibly in the form of over optimistic behavior. These elicitations were made with the use of multiple price formats and winner's curse experiments. 62 responses were collected from subjects at the 2004 national Small Business Innovation Research (SBIR) conference in Atlanta, March 2004. From these 62 responses a subject pool of 33 entrepreneurs and 29 non-entrepreneurs were identified. Statistical methods were employed to assign risk aversion measures and identify any 'joy of winning' or judgmental errors for the entrepreneur (treatment) group compared with the non-entrepreneur (control) group. Findings show that entrepreneurs exhibit less risk aversion, but show no statistically meaningful difference in judgmental errors compared to their non-entrepreneur counterparts. However, there is evidence to support the claim that both entrepreneurs and non-entrepreneurs exhibit a 'joy of winning', and that the size of the effect is larger for entrepreneurs.
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Date Issued
2005
Identifier
CFE0000549, ucf:46426
Format
Document (PDF)
PURL
http://purl.flvc.org/ucf/fd/CFE0000549