【顶级期刊创业研究速递】JBV 2019年1月文献中英文摘要（下）

Orchestrating boundaries: The effect of R&D boundary permeability on new venture growth

管理边界：R&D边界可渗透性对新创企业增长的影响

作者：

Robert S. Nason，1, Johan Wiklund，2, Alexander McKelvieb, Michael Hitt，3,4, Wei Yu，5

1 John Molson School of Business, Concordia University, 1445 De Maisonneuve Boulevard, West, Montréal, Québec H3G 1M8, Canada

2 Department of Entrepreneurship and Emerging Enterprises, Whitman School of Management, Syracuse University, 721 University Ave., Syracuse, NY 13244, USA

3 Mays Business School, Texas A&M University, College Station, TX 77843-4221, USA

4 Texas Christian University, College Station, TX 77843-4221, USA

5 Department of Industrial Systems Engineering and Management, NUS Faculty of Engineering, National University of Singapore, 9 Engineering Drive 1,117575, Singapore

摘要：

虽然成熟的公司可以有效地管理其资源组合，但新创企业必须通过整合资源来构建资源边界。 这样做的过程中，通常会推动新创企业利用其他参与者拥有的资源。这些组织间关系策略不会扩展组织边界，而是创建可渗透的边界。我们将边界可渗透性理论化成可以提供更多的资源，但限制了对资源的控制。因此，新创企业面临着一个风险的选择：利用较少但完全受控的资源或在有限的控制下获得更广泛的资源。本文使用了年轻的知识密集型新创企业样本，研究其R&D的边界可渗透性对营业收入、盈利能力和员工数量等增长维度的影响。在此过程中，本文探索了早期阶段的边界管理决策，揭示了开放企业边界的机会和威胁。

While established firms can efficiently manage their resource portfolio, new ventures must construct resource boundaries by assembling resources. In doing so, new ventures are often pushed to utilize resources that are owned by other actors. These inter-organizational relationship strategies do not expand organizational boundaries, but rather create permeable boundaries. We theorize that boundary permeability confers greater access to resources, but limits control over them. Therefore, new ventures face a risky option: utilize fewer but fully controlled resources or access a broader range of resources under limited control. We examine the effects of R&D boundary permeability across growth dimensions of sales, profitability, and employees using a sample of young knowledge intensive ventures. In doing so, we explore early stage boundary management decisions and reveal opportunities and threats to opening venture boundaries.

Early employment expansion and long-run survival examining employee turnover as a context factor

早期雇员扩张与长期生存，将员工离职率视为情境因素

作者：

Pernille Gjerløv-Juel，1, Christina Guenther，2

1 Department of Business and Management, Fibigerstræde 11, 9220 Aalborg Ø, Denmark

2 WHU - Otto Beisheim School of Management, Burgplatz 2, 56179 Vallendar, Germany

摘要：

本文探究了在哪些情况下，早期员工人数增长可以转化为企业更长期的生存。根据彭罗斯的增长理论，本文认为早期员工人数增长与企业长期生存之间的关系取决于员工流动率。本文认为，更高的员工流动率会降低公司的共同经验并且破坏公司生产机会集的开发和最终利用，从而减少早期员工扩张的长期利用率。这些论点表明，公司实现早期员工人数增长的长期收益的能力取决于初始扩张后员工的低流失率。使用丹麦综合数据库进行劳动力市场研究，本文的研究表明，只有当员工流动率较低时，早期员工人数的增长才能带来长期更高的生存率。

We investigate under which circumstances early employment growth translates into greater long run survival. Drawing on Penrose's growth theory, we suggest that the relationship between early employment growth and long-run survival is conditional on employee turnover. We argue that higher employee turnover reduces joint experience in the firm and disrupts the development and eventual exploitation of the firm's productive opportunity set, thereby reducing long-term utilization of early employment expansion. These arguments suggest that the firm's ability to realize long-term benefits of early employment growth is contingent upon low employee turnover following this initial expansion. Using the Danish Integrated Database for Labor Market Research,we show that only when employee turnover is low, will early employment growth lead to higher survival in the long run.

The guppy and the whale: Relational pluralism and start-ups' expropriation dilemma in partnership formation

孔雀鱼与鲸鱼：关系多元化与新创企业合作关系形成中的资源盗用困境

作者：

Joris Knoben，1, Rene M. Bakker，2,

1 Institute for Management Research, Radboud University, P.O. Box 9108, 6500 HK Nijmegen, The Netherlands

2 Indiana University, Kelley School of Business, 1309 E. Tenth St., Bloomington, IN 47405, United States

摘要：

新创企业对资源的需求很大，但在与在位企业建立合作伙伴关系以获取资源时面临着重大风险。本文认为基于关系多元化的伙伴关系战略以及与合作伙伴形成多方面的联系可以减轻风险。多元化关系为新创企业提供了更高的合法性，并为防止强大的合作伙伴盗用资源提供了关系保障。但是，我们认为关系多元化的有效性是有局限性的。当新创企业完全依赖于小部分合作伙伴或者当增加关系产生的资源是冗余时，有效性就会减弱。本文认为只有当关系保障和合法性收益超过依赖和冗余的成本时，新创企业才会受益。我们实证观察了10年里澳大利亚采矿业中新创企业的连锁董事关系网络和战略联盟网络的联合演化。研究结果表明，关系多元化的新创企业比没有形成联盟的新创企业和形成单一联盟的新创企业表现更好。但是，拥有非常小的合作伙伴组合或者严重偏向于当地合作伙伴的合作伙伴限制了关系多元化的有效性。有趣的是，本文还发现关系多元主义的时间顺序很重要。本文研究的核心结论之一是，表现最佳的新创企业首先与有前景的合作伙伴建立连锁董事关系网络，并在随后建立战略联盟。这为新创企业通过在不同时间序列中与合作伙伴关系形成而获得绝佳表现提供了洞见。

Start-ups have a high need for resources yet face significant risks when forming partnerships with incumbents to access those resources. We propose that a partnership strategy based on relational pluralism, forming multiplex and multifaceted ties with partners, can mitigate these risks. Such ties offer the start-up increased legitimacy and a relational safeguard against resource misappropriation by more powerful partners. However, we propose that there is a limit to the effectiveness of relational pluralism. Its effect is weakened when the start-up becomes entirely dependent on a small set of partners, or when an additional tie yields resources that are redundant. We argue that the start-up only benefits when the gains from relational safeguarding and legitimacy outweigh the costs of dependence and redundancy. We empirically observe the co-evolution of start-ups’ interlocking directorate and strategic alliance networks in the Australian mining industry over a 10-year period. Our results show that start-ups that engage in relational pluralism perform better than both start-ups that form no alliances and start-ups that form stand-alone alliances. Having a very small portfolio of partners or one that skews heavily toward local partners, however, indeed limits the effectiveness of relational pluralism. Intriguingly, we also find that the temporal sequencing of relational pluralism matters. One of our central findings is that the best performing start-ups first form board interlocks with promising partners and add a strategic alliance later. This offers a rare glance at the temporal sequencing in which peripheral start-ups can gain exceptional performance through partnership formation.

The role of top management teams in transforming technology-based new ventures' product introductions into growth

高管团队在技术驱动型新创企业产品导入转化为增长中角色

作者：

Daniela Nuscheler，1, Andreas Engelen，1, Shaker A. Zahra，2

1TU Dortmund, Germany

2 Carlson School of Management, University of Minnesota, Minneapolis, Minnesota, U.S.A

摘要：

本文强调了高管团队对于技术驱动型的新创企业获得成长成功的重要性，后者常常通过新产品导入来实现。人力资本理论高管团队成员从自身教育背景和工作经历获得的技巧，可以便利新产品导入到企业成长之间的转化。本文也认为，多产品必须得到管理，平滑而且灵活地推向市场，进而降低同质化团队中典型的协调需要与冲突。使用2005年到2014年374家美国技术驱动型的新创企业的多源数据，我们发现只有当高管团队拥有创业经历并且在功能并非多样化时，新产品导入帮助技术驱动型成长。我们的研究发现回应了高管团队文献中从高管团队多样性的单一直接效应模型到更具情境的分析。

The literature highlights the importance of top management teams (TMTs) for technology-based new ventures' success in achieving growth, which is often achieved through product introductions.The human capital theory suggests that TMT members' skills, which are typically derived from their education and experience, can facilitate the transformation of new product introductions into growth. We also propose that multiple products that must be managed and brought to the marketplace smoothly and flexibly benefit from the lower coordination needs and conflicts that are typical of functionally homogeneous teams. Using a unique, multi-source dataset on 374 US technology-based new ventures during the period from 2005 to 2014, we find that new product introductions help technology-based new ventures grow only when the TMT has startup experience and is not functionally diverse. Our findings lead us to echo calls in the TMT literature to move away from simple direct-effect models to more situation-dependent analyses of TMT diversity.

Signaling in science-based IPOs The combined effect of affiliation with prestigious universities, underwriters, and venture capitalists

科技类IPOs中的信号作用：与有声望的大学、承销商和风险投资家联系的联合效应

作者：

Massimo G. Colombo,1, Michele Meoli,2, Silvio Vismara,2,

1Politecnico di Milano, Italy

2 University of Bergamo, Italy

摘要：

本文研究了与具有声望的大学、承销商和风险投资家产生联系对于生物医药公司在IPO的定价以及IPO之后的表现的联合效应。本文认为，和顶尖大学有联系为该公司在科学领域提供了高质量的信号。基于对高管中科学家的科学声誉的一阶差分方法将这种联系的纯质量效应从科学家科学声誉的实质性益处分离出来。信号越强，该IPO公司的科学家科学声誉效应就越弱，叠加由顶尖的风险投资家和承销商提供的信号。254家欧洲生物医药公司在1990年-2009年之间的IPO数据的研究结果支撑了我们的假设。

This paper studies the combined effect of affiliation with prestigious universities, underwriters, and venture capitalists on the valuation of biotech ventures at IPO and their post-IPO performance. We argue that affiliation to a prestigious university provides the affiliated firm with a quality signal in the scientific domain. The pure quality signaling effect of the affiliation is isolated from the substantive benefits it provides by performing a difference-in-difference approach based on the scientific reputation of scientists in firms' upper echelons. The signal is stronger the weaker is the scientific reputation of scientists of the focal IPO-firm and is additive to those provided by prestigious venture capitalists and underwriters. Results for a sample of 254 European biotech ventures that went through an IPO between 1990 and 2009 confirm our predictions.

Socio-cognitive traits and entrepreneurship The moderating role of economic institutions

社会认知特征与创业：经济制度的调节作用

作者：

Christopher J. Boudreaux,1, Boris N. Nikolaev,2, Peter Klein,2

1 Florida Atlantic University, College of Business, 777 Glades Road, KH 145, Boca Raton, FL 33431, United States of America

2 Baylor University, Hankamer School of Business, One Bear Place #98011, Waco, TX 76798, United States of America

摘要：

本文研究了国家层面的制度情境如何调节三种社会认知特征——创业者自我效能、新商业机会的警觉性、失败恐惧感与机会型创业之间的关系。本文将社会认知理论与制度理论结合起来，开发了一个创业进入的多水平模型。本文合并了全球创业观察（GEM）和世界经济自由度（EFW）两个数据库中的45个国家从2002年到2012年的数据。本文的结果基于多水平的固定效应模型，研究表明创业者自我效能和对新机会的警觉性促进了机会型创业，而失败恐惧感则制约了机会型创业。但是这些关系的强弱取决于制度情境，在拥有更高经济自由度的国家中，创业者自我效能和警觉性更可能诞生新的机会驱动型的企业。这些结果提供了建设性的证据，即经济自由度不仅联通了个体努力与生产性创业活动，而且也影响了个体的社会认知资源更容易被引导到高成长的创业的效应。

We examine how country-level institutional context moderates the relationship between three socio-cognitive traits—entrepreneurial self-efficacy, alertness to new business opportunities, and fear of failure—and opportunity entrepreneurship. To do this, we blend social cognitive theory (SCT) with institutional theory to develop a multi-level model of entrepreneurial entry. We merge data from the Global Entrepreneurship Monitor (GEM) surveys and the Economic Freedom of the World (EFW) index for 45 countries from 2002 to 2012. Our results, which are based on a multilevel fixed-effects model, suggest that entrepreneurs' self-efficacy and alertness to new opportunities promote opportunity entrepreneurship while fear of failure discourages it. However, the strength of these relationships depends on the institutional context, with entrepreneurial self-efficacy and alertness substantially more likely to lead to new opportunity-driven ventures in countries with higher levels of economic freedom. These results provide suggestive evidence that economic freedom not only channels individual effort to productive entrepreneurial activities, but also affects the extent to which individuals' socio-cognitive resources are likely to mobilized and lead to high-growth entrepreneurship.

Entrepreneurship as a solution to extreme poverty A review and future research directions

创业作为极端贫困的解决方案：回顾与未来研究方向

作者：

Christopher Sutter,1, Garry D. Bruton,2,4, Juanyi Chen,3

1 Farmer School of Business, Miami University, United States

2 Professor of Management, Neeley School of Business, Texas Christian University, United States

3 School of Management, Jilin University, China

4 Honorary Professor School of Business, Sun Yat-sen University, China

摘要：

创业对减轻极端贫困非常重要已经被广为认知。然而，关于这一主题研究的特点是学者们关于减贫的观点不同，并且在各个研究领域仍然支离破碎。本篇综述回顾了1990年到2017年期间77个顶尖期刊中200篇有关创业与减贫的文献。对这些文章的分析突出了三个不同的基本观点：创业作为补救（解决直接资源问题的行动）、改革（导致实质性制度变革的行动）和变革（改变基础资本主义商业假设的行动）来减轻贫困。对这些文章的分析可以为未来的研究提供广泛的新见解和机会。

Entrepreneurship is widely argued to be critical for alleviating extreme poverty. However, research on this topic is characterized by diverging perspectives regarding poverty alleviation and remains fragmented across various research domains. This review examines 77 leading academic journals over the period 1990 to 2017 and identifies over 200 articles on entrepreneurship and poverty alleviation. The analysis of these articles highlights three different underlying perspectives: poverty alleviation through entrepreneurship as remediation (actions that address immediate resource concerns), reform (actions leading to substantive institutional changes), and revolution (actions that change the underlying capitalist-based assumptions of business). The analysis of these articles leads to the development of extensive new insights and opportunities for future research.

END

作者：刘志阳，系上海财经大学商学院副院长、创业学院执行副院长、中国社会创业研究中心主任

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【顶级期刊创业研究速递】JBV 2019年1月文献中英文摘要（上）

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