In contrast to previous efforts to model the individual’s movement from wage work into entrepreneurship, we consider that individuals might transition incrementally by retaining their wage job while entering into self-employment. We show that these hybrid entrepreneurs represent a significant...

This paper tests a real options model of stepwise entrepreneurial entry. We distinguish between part time and full time entry among the self employed in Swedish knowledge intensive industries. Two multinomial logit models tests the entry from employment to part or full time entry in 1998, and to...

This study clarifies the relationship betweengeographic cluster size and firm performance. Following a review of relevantliterature, several hypotheses are proposed. Data on 789 private and publicbiotechnology firms founded in the United States between 1973 and 1998 are usedto test the...

Choosing between temporary services workers and long-term employees involves a tradeoff between flexibility and commitment. Temporary employees provide both a buffer against unforeseen shocks and a secondary internal labor market to preview employees prior to long-term hire. We use real options...

This paper investigates the influence of industry uncertainty on the decision by established firms to enter a new industry. Specifically, we examine the tension between the option to defer, which discourages entry in the presence of uncertainty, and the option to grow, which may encourage entry...

Emphasis on first-mover advantages has led strategic management researchers to advocate speed as a key to competitiveness. By contrast, real option theory emphasizes the value of waiting when considering sunk investments under uncertainty. We revisit the strategy question of market entry timing...

In contrast to previous efforts to model the individual’s movement from wage work into entrepreneurship, we consider that individuals might transition incrementally by retaining their wage job while entering into self-employment. We show that these hybrid entrepreneurs represent a significant...