In the last few decades, we have developed a substantial body of knowledge about CEO succession. However, none of the past studies of succession has examined the very first succession event in a firm, when the Founder-CEO is replaced. There are at least four critical differences between...

High-growth firms (HGFs) are critical for net job creation and economic growth. We analyze HGFs using the theory of competence blocs, linking firm growth to property rights and the interaction of complementary expertise. Specifically, we discuss how the institutional framework affects the...

The contributions of the small businesses sector to the U.S. economy are often noted in periods of economic growth, and the fragility of the sector is a core focus of policy in an economic downturn. The sector is important not only because of its contributions to job growth, real economic...

According to several previous studies, entrepreneurial risk-taking is an important aspect that can lead to prospective business opportunities, hence improving entrepreneurial outcomes such as enterprise performance. The main purpose of this paper is to examine the extent and degree of impact of...

This paper analyses the effect of risk attitudes of firm owners on profits among micro and small enterprises (MSEs) in Lagos, Nigeria. Higher risk perceptions are shown to have a significant positive effect on profits, whereas risk propensity has a negative or no effect. Education, age, being...

This paper questions the stereotypical image of migrant-led companies as being less successful than native-led businesses. While facing similar framework conditions, migrant-led businesses are supposed to differ from native-led businesses in terms of their social capital endowment. In its...

Purpose: In nowadays economy, the role of Small and Medium Enterprises (SMEs) is continually increasing as they represent the primary source of employment, economic development, poverty alleviation, new product development, and innovations. The SMEs' growth depends mostly upon its internal...

Previous studies demonstrate that policy makers and practitioners should target support tailored to special needs of novice and habitual entrepreneurs. This paper aims to present a study of the role of prior business experience in the inclination to use external business support and the choice...

Several empirical studies showed that it is not the level of entrepreneurial activity itself, but the (long-term) survival and growth of new firms that determine the direct and indirect contribution of new businesses to regional employment. To this end, the aim of this paper is to analyze the...