http://repub.eur.nl/res/concept/jel-L2/ Recent publications classified by JEL Code L2 en http://repub.eur.nl/static-eur/img/logo.png http://repub.eur.nl http://repub.eur.nl/res/pub/39515/ 2013-04-09T00:00:00Z We analyze the initial intellectual property (IP) right of 4,703 start-up entrants in the US, distinguishing between trademark and patent applications. The results show that start-ups are more likely to file for a trademark instead of a patent when entering into more competitive market structures. Further, we find that start-ups with a focus on distribution that serves end-consumers are more likely to file for a trademark and that start-ups that operate upstream and sell to other businesses are more likely to file for a patent. Lastly, the external influences on a start-up‟s management, such as the involvement of a venture capitalist (VC), affect IP applications. The increased incentive of VC-backed start-ups to become operational on the market makes them more likely to file initial IP in the form of a trademark rather than a patent. Among other factors, we control for R&D and advertising intensity in the industry and distinguish between more technical and more service-driven industries. De Vries, G.A. Pennings, H.P.G. Block, J.H. http://repub.eur.nl/res/pub/37266/ 2013-03-26T00:00:00Z The growing interest of the business world in the virtues of individ- uals with specific cognitive behavioral characteristics, such as lack of attention and hyperactivity, is not matched by scholarly work. Indi- viduals who experience the challenges associated with such character- istics are thought to thrive in work environments that embrace their talents. Given that entrepreneurship requires a distinctive mindset, we test the hypothesis that individuals who, more than others, expe- rience symptoms of attention deficit and hyperactivity (ADHD) favor entrepreneurship over wage-employment. Using data of nearly 13,000 university students, we show that symptoms of attention deficit and hyperactivity increase the likelihood of intending to startup a busi- ness directly after study. We find evidence for partial mediation of two work attributes; independence and risk tolerance. Students who experience ADHD symptoms prefer to work independently and do not shy away from working on high-risk projects, which partly explains their preference for an entrepreneurial career. Verheul, I. Block, J.H. Burmeister-Lamp, K. Thurik, A.R. Tiemeier, H. Turturea, R. http://repub.eur.nl/res/pub/38004/ 2012-12-06T00:00:00Z Empirical studies have shown that entrepreneurs earn, on average, less than the market wage for employees with otherwise similar characteristics. We examine whether having previously been self-employed is in itself a negative signal on the job market. In a field experiment where two applications of otherwise equally qualified individuals were sent for the same vacancies, we find that entrepreneurs systematically receive fewer responses than non-entrepreneurs. Thus, it appears that the earnings differential is partially explained by the fact that entrepreneurs do not have access to the reference jobs in practice. We discuss what type of unfavorable information self-employment may carry. Koellinger, Ph.D. Mell, J. Pohl, I. Roessler, C. Treffers, T. http://repub.eur.nl/res/pub/37957/ 2012-11-28T00:00:00Z Despite the obvious task interdependence between groups within the organization, strategic consensus between groups has received very little attention. Grounded in social identity theory, this field study examines the relationship between groups’ identifications and strategic consensus between groups. Data from 3828 dyads of organizational groups support the predictions that in a dyad the group with the strongest group identification is the limiting factor for the degree of between-group consensus. For organizational identification, in contrast, the group with the weakest organizational identification in a dyad is the determining factor for the degree of consensus between the groups. Additionally, dyads with higher average intergroup anxiety have lower between-group consensus. We discuss how these findings speak to the promise of a social identity perspective on between-group strategic consensus. Porck, J.P. Knippenberg, D.L. van Tarakci, M. Ates, N.Y. Groenen, P.J.F. Haas, M. de http://repub.eur.nl/res/pub/37345/ 2012-08-08T00:00:00Z While most economic organisation literature on cooperatives has focused on changes in income rights, we study changes in the allocation of decision rights between board of directors (representing members) and managers. The traditional role of the board is to direct the activities of the managers. However, professional management increasingly makes most strategic decisions, pushing the board into a supervisory role. We present two groups of findings on changing board – management relationships. We identify three corporate governance models: traditional model, management model, and corporation model, and we present an empirical illustration showing a relationship between the choice of board model and product portfolio and performance. Bijman, W.J.J. Hendrikse, G.W.J. Oijen, A.A.C.J. van http://repub.eur.nl/res/pub/32840/ 2012-06-01T00:00:00Z To counterbalance the proliferation of studies on the emergence of new organizational categories, this study asked how organizational categories disappear. In a historical case study of vemen in Rotterdam warehousing, specific mechanisms contributing to the demise of that category are identified, paying particular attention to category labels, schemas, and members’ positioning within categories. A comparison with a similar but more persistent category in the port of Antwerp helps identify the possible causal mechanisms at work. A set of theoretical propositions is presented, as well as suggestions for re-specifying models of industry evolution, including accounting for the impact of posers. Kuilman, J.G. Driel, H. van http://repub.eur.nl/res/pub/34900/ 2012-05-11T00:00:00Z De Nederlandse versie van de in het Engels uitgesproken rede ter gelegenheid van het afscheid als Full Professor of Management aan de Rotterdam School of Management, Erasmus University, op 11 mei 2012 Bosch, F.A.J. van den http://repub.eur.nl/res/pub/34870/ 2012-05-11T00:00:00Z Abstract. In his Farewell Lecture, referring to the statement “Nothing is as practical as good theory”, Professor Van Den Bosch elaborates on developing “good” Management Theory and its practical application to business and society. Management is likely to be the most valuable resource of goal-oriented organizations. However, nowadays in the media and in public debate the diminishing legitimacy of managers is coming under discussion. This raises the challenging question: are managers losing their societal legitimacy? If this is the case, the second question arises: how can a more solid theoretical foundation of Management contribute to new insights in terms of its role – as an alternative to the Market – as a coordinating mechanism for creating value for business and society? Regarding both questions, the following four scientific challenges are addressed. First, the case is made that a managerial perspective on Research into Management is required. Second, taking a context-neutral approach in defining Management, it is proposed to focus on generic core activities of Management. Third, it is suggested that the creation of strategic value for society should be defined as the purpose of Management of organizations. Fourth, based on recent contributions to the literature, the importance for practice of strategic value creating Management Models are discussed, including a current appli - cation in the context of Shared Value Creation. Finally, the problems and challenges of changing the Management Model of an organization, i.e. Management Innovation, are highlighted. The lecture is concluded with four recommendations. These recommen - dations are directed to scientists in the field of Research in Management, to Schools of Management, to the practice of Management, and to governmental and regulatory agencies. These agencies have to look after Management Models and their strategic value creation for society. In the context of the present financial and economic crisis, it is recommended these agencies have to consider correcting not only the “Invisible Hand” of the Market, but also paying due attention to its close connection with the “Visible Hand” of Management. Bosch, F.A.J. van den http://repub.eur.nl/res/pub/37297/ 2012-05-01T00:00:00Z We model entrepreneurship and the emergence of firms as an outcome of simultaneous bidding for labor services among heterogeneous agents. What distinguishes our approach from prior work is that occupational choice and job matching are determined simultaneously, so that the opportunity costs of entrepreneurs are accounted for. Those who are relatively unmanageable, while possibly excellent managers themselves, become entrepreneurs. Entrepreneurs compete and create value by building efficient organizations and offering potentially well-paid jobs to others. While the entry of an additional entrepreneur typically reduces some individual wages, we show that it always raises the average wage and depresses the average income of incumbent entrepreneurs. This result may help explain the empirically low returns to entrepreneurship. Roessler, C. Koellinger, Ph.D. http://repub.eur.nl/res/pub/23503/ 2012-04-01T00:00:00Z In the media role models are increasingly being acknowledged as an influential factor in explaining the reasons for the choice of occupation and career. Various conceptual studies have proposed links between role models and entrepreneurial intentions. However, empirical research aimed at establishing the importance of role models for (nascent) entrepreneurs is scarce. Knowledge of the presence of entrepreneurial role models, their specific functions and characteristics is therefore limited. Our explorative empirical study is a first step towards filling this gap. Our study is based on the outcomes of a questionnaire completed by a representative sample of 292 entrepreneurs in three major Dutch cities – entrepreneurs who have recently started up a business in the retail, hotel and restaurant sectors, business services and other services. We provide indications of the presence and importance of entrepreneurial role models, the function of these role models, the similarity between the entrepreneur and the role model, and the strength of their relationship. Highlights ► Role models emerge as influential factors in individual decision making. ► However, empirical knowledge of entrepreneurial role models is limited. ► We explore impacts, functions and characteristics of entrepreneurial role models. ► We find that role models often influence others in their decision to start a firm. ► Role models tend to be next-door examples and fulfill several functions. Bosma, N. Hessels, S.J.A. Schutjens, V. Praag, M. van Verheul, I. http://repub.eur.nl/res/pub/37798/ 2012-04-01T00:00:00Z We determine the circumstances when the absence of public listing, often believed to be a disadvantage, makes a cooperative the unique efficient governance structure. This is established in a multi-task principal-agent model, capturing that cooperatives are not publicly listed and their CEOs have to bring the downstream enterprise to value as well as to serve upstream member interests. Not having a public listing prevents the CEO from choosing the level of the downstream activities too high. Cooperatives are uniquely efficient when the upstream marginal product multiplied with a function increasing in the strength of the chain complementarities is higher than the downstream marginal product. Feng, L. Hendrikse, G.W.J. http://repub.eur.nl/res/pub/37296/ 2012-02-23T00:00:00Z We model entrepreneurship and the emergence of …rms as an out- come of simultaneous bidding for labor services among heterogeneous agents. What distinguishes our approach from prior work is that oc- cupational choice and job matching are determined simultaneously, so that the opportunity costs of entrepreneurs are accounted for. Those who are relatively unmanageable, while possibly excellent managers themselves, become entrepreneurs. Entrepreneurs compete and create value by building e¢ cient organizations and o¤ering potentially well- paid jobs to others. While the entry of an additional entrepreneur typically reduces some individual wages, we show that it always raises the average wage and depresses the average income of incumbent en- trepreneurs. This result may help explain the empirically low returns to entrepreneurship. Roessler, C. Koellinger, Ph.D. http://repub.eur.nl/res/pub/37308/ 2011-12-22T00:00:00Z Using data from representative population surveys in 17 countries, we find that the lower rate of female business ownership is primarily due to women's lower propensity to start businesses rather than to differences in survival rates across genders. We show that women are less confident in their entrepreneurial skills, have different social networks and exhibit higher fear of failure than men. After controlling for endogeneity, we find that these variables explain a substantial part of the gender gap in entrepreneurial activity. Although, of course, their relative importance varies significantly across countries, these factors appear to have a universal effect. Koellinger, Ph.D. Minniti, M. Schade, C. http://repub.eur.nl/res/pub/26894/ 2011-10-28T00:00:00Z Critics claim that short-term profit orientation and high deal price strategies of private equity (PE) firms can negatively affect the ability of management buyouts to initiate and sustain entrepreneurial management. This study investigates this claim by comparing effects of majority PE backed and other buy-outs at different levels of financial leverage on post buy-out increases in entrepreneurial management. We propose that PE can be used as an organizational refocusing device that simultaneously increases entrepreneurial and administrative management. We find that majority PE-backed buy-outs significantly increase entrepreneurial management practices. Furthermore, the increased financial leverage positively affects administrative management in management buy-outs. However, the effect of high financial leverage is larger for majority PE-backed buy-outs. These results support the notion that PE firms help buy-out companies develop ambidextrous organizational change: i.e. simultaneously develop entrepreneurial and administrative management practices. The findings have important implications for practitioners and policy makers. Bruining, J. Verwaal, E. Wright, M. http://repub.eur.nl/res/pub/25940/ 2011-10-01T00:00:00Z Candidate gene studies of human behavior are gaining interest in economics and entrepreneurship research. Performing and interpreting these studies is not straightforward because the selection of candidates influences the interpretation of the results. As an example, Nicolaou et al. (Small Bus Econ 36:151-155, 2011) report a significant association between a common genetic variant in the DRD3 gene and the tendency to be an entrepreneur. We fail to replicate this finding using a much larger, independent dataset. In addition, we discuss the candidate gene approach and give suggestions to avoid the publication of false positives. Loos, M.J.H.M. van der Koellinger, Ph.D. Groenen, P.J.F. Rietveld, C.A. Rivadeneira Ramirez, F. Rooij, F.J.A. van Uitterlinden, A.G. Hofman, A. Thurik, A.R. http://repub.eur.nl/res/pub/37309/ 2011-07-19T00:00:00Z We find new empirical regularities in the business cycle in a cross-country panel of 22 OECD countries for the period 1972-2007; entrepreneurship Granger-causes the cycles of the world economy. Furthermore, the entrepreneurial cycle is positively affected by the national unemployment cycle. We discuss possible causes and implications of these findings. Koellinger, Ph.D. Thurik, A.R. http://repub.eur.nl/res/pub/23554/ 2011-06-23T00:00:00Z This research describes the objective measurement of CEO narcissism and its impact on organizational outcomes. Narcissism forms an essential element for effective leadership and is as such an important personal characteristic for CEOs. CEO narcissism can be measured by investigating five determinants of CEO behavior, comprising media exposure, compensation, power, growth and perquisites. The CEO narcissism score is based on these five determinants by a massive data collection of fifteen objective variables for 953 S&P500 CEOs. The composed CEO narcissism score reflects the psycho logically validated factor solution of narcissism. CEOs who have been identified as narcissists by leading psychologists have a top score in this research. The results of the first empirical impact study show an intricate relationship between CEO narcissism and financial accounting performance measures which can be visualized by a concave parabola. This relationship confirms the view that narcissism is an essential element for effective CEO leadership, but is however not without its pitfalls for either too low or too high levels of narcissism. The results of the second empirical impact study indicate a negative relationship between CEO narcissism and countervailing power of the board. High narcissistic CEOs do not tolerate contradiction and surround themselves with followers. The third impact study examines the relationship between CEO narcissism and fraud propensity as alleged in AAERs by the SEC. The results show that high narcissistic CEOs are more inclined to commit managerial fraud to keep up appearances and retain their status. The empirical results theoretically contribute to the psychological perspective of narcissism as a double edged sword and provide an indication to expand the upper echelon theory with the CEOs narcissistic personality. The practical contribution of this research enables stakeholders to monitor CEO narcissism by applying objective measures and trying to retain productive CEO narcissism levels. Rijsenbilt, J.A. http://repub.eur.nl/res/pub/25538/ 2011-06-06T00:00:00Z This study investigates if and in what way social entrepreneurs are hampered in turning their efforts into sustainable organizations. Using binary logit regressions and unique data containing approximately 26,000 individual-level data points for 36 countries, this study assesses the influences of perceived environmental barriers, risk variables, and socio-demographic variables on the probability of being a social entrepreneur versus a commercial entrepreneur. Our findings confirm that socially motivated entrepreneurs are less likely to survive the earliest levels of entrepreneurial engagement. Several factors have been identified to explain this underperformance. Compared to commercial entrepreneurs, social entrepreneurs perceive more financial and informational start-up barriers, are more afraid of personal failure and bankruptcy, and can be found in the lower and higher age categories. In addition, this study found that social entrepreneurs are more likely to be female and highly educated than are their commercial counterparts. Hoogendoorn, B. Zwan, P.W. van der Thurik, A.R. http://repub.eur.nl/res/pub/22246/ 2011-06-01T00:00:00Z In the present study, the construct validity of a revised edition of the Belbin Team Roles measure is tested. This edition consists of three parts to determine someone's team roles. The sample included 1434 persons who were asked to fill out the self-perception inventory and the self-perception assessment sheet, and the Observer Assessment Sheet was filled out by at least four observers. The interrater agreement of the Observer Assessment Sheet was satisfactory across all team roles. As for the construct validity, which was studied in a multitrait-multimethod design using structural equation modelling, the results revealed that the discriminant and convergent validity for the instrument as a whole is good; a small effect could be contributed to method variance. Dierendonck, D. van Groen, R. http://repub.eur.nl/res/pub/23298/ 2011-05-13T00:00:00Z In this dissertation I test three new approaches to extend the ‘classical’ model of workplace diversity. The ‘classical’ model of workplace diversity assumes that diversity affects work outcomes via the mediating effects of social networks. I hypothesize that this model fruitfully can be extended by 1) considering that diversity forms a context in which employees act, 2) testing alternative predictors of network formation and employee behavior (i.e., employee voice), and 3) integrating diversity and social network perspectives in a contingency model. Three empirical studies support these hypotheses. In the first study, I show that the association between leadership and employee voice is stronger for nationality dissimilar employees. The second study finds that employee voice affects the strength of friendship relations but that this effect is contingent on employees’ past position in the social network. Finally, the third study demonstrates that group performance is maximized at moderate levels of task network centralization but lowest at high and low levels of centralization but that this relation is moderated by nationality diversity. Nationality diverse teams required more centralization to achieve high performance than homogeneous teams. Finally, I discuss the implications of these findings for research on diversity and social networks. Tröster, C.