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Many basic economic theories with perfectly functioning markets do not predict the existence of the vast number of microenterprises readily observed across the world. We put forward a model that illuminates why financial and managerial capital constraints may impede experimentation, and thus...
Persistent link: https://www.econbiz.de/10013101353
We show how financial and managerial constraints impede experimentation and thus limit learning about the profitability of investments. Imperfect information about one's own type, but willingness to experiment to learn one's type, leads to short-run negative expected returns to investments, with...
Persistent link: https://www.econbiz.de/10013085940
We test whether managerial human capital has a first order effect on the performance and growth of small enterprises in emerging markets. In a randomized control trial in Puebla, Mexico, we randomly assigned 150 out of 432 small and medium size enterprises to receive subsidized consulting...
Persistent link: https://www.econbiz.de/10013110213
Our model reconciles seemingly contradictory empirical evidence on venture capital activity. Despite the venture capital-backed companies' superior long-run performance, stock markets react more negatively to their acquisitions than to other private acquisitions. Moreover, venture capital...
Persistent link: https://www.econbiz.de/10013141931
' signaling-driven investment, despite the risk of buying a bad innovation. We nally show at what point the presence of active …
Persistent link: https://www.econbiz.de/10010320264
flexibility during business model innovation. While the positive effect of creative culture is confirmed, partner reliance reduces … strategic flexibility during business model innovation. Further, structural change is disaggregated into efforts that either … business model innovation effort moderates the effect of reconfiguration on strategic flexibility. The implications for …
Persistent link: https://www.econbiz.de/10014199225
' signaling-driven investment, despite the risk of buying a bad innovation. We finally show at what point the presence of active …
Persistent link: https://www.econbiz.de/10005419514
innovation. The dataset is complemented with indicators of patent quality (patent renewal, forward citations, and patent family …
Persistent link: https://www.econbiz.de/10012615417
This paper will examine the development of sustainable SME methods for tracking tacit (informal) knowledge transfer as a series of networks of larger complex system. Understanding sustainable systems begins with valuing tacit knowledge networks and their ability to produce connections on...
Persistent link: https://www.econbiz.de/10014185861
innovation by new entrant firms. We apply this model to evidence from a study of problems faced by 73 environmental ventures. We … present supporting evidence from case studies that demonstrate how entrepreneurial innovation is brought about by problem …
Persistent link: https://www.econbiz.de/10014042696