We develop a model that focuses on the individuation of opportunity beliefs. We adopt inferences from the ecology literature and integrate those with mental model theory to examine the ‘individuation’ of opportunity as the result of the interplay between industry conditions and...

Uncertainty is central to entrepreneurship; however robust and generalizable findings that explain the conditions in which uncertainty may impede [or promote] entrepreneurial action remain elusive. We operationalize uncertainty as a multi-dimensional construct composed of state, effect, and...

The act of entrepreneurship typically confers 'distinctiveness'. However, in satisfying the psychological need to be distinct, entrepreneurs may at the same time foster a psychological deficit in feelings of belonging, leading to diminished psychological well-being. Investigating this potential...

We develop a framework to investigate the foundations of an 'entrepreneurial mindset' -- described by scholars as the ability to sense, act, and mobilize under uncertain conditions. We focus on metacognitive processes that enable the entrepreneur to think beyond or re-organize existing knowledge...

Why do owner-managers delay business failure when it is financially costly to do so? In this paper we acknowledge that delaying business failure can be financially costly to the owner-manager and the more costly the delay, the more difficult the recovery. But we complement this financial...

Researchers have focused attention on the problematic effects of confirmatory search applied to opportunity evaluations, arguing that a confirmatory strategy almost always leads to poor decisions. The implicit assumption of this research is that confirmatory search cannot conclusively falsify an...

Entrepreneurial exit is a major event in the development of a venture. However, we have little understanding of the factors that drive the development of an important pre-cursor to exit: the exit strategy of the founder. Based on the existing literature, we develop a typology of entrepreneurial...

Sales growth and employment growth are the two most widely used growth indicators for new ventures; yet, sales growth and employment growth are not interchangeable measures of new venture growth. Rather, they are related, but somewhat independent constructs that respond differently to a variety...

We develop and validate measures of causation and effectuation approaches to new venture creation and test our measures with two samples of entrepreneurs in young firms. Our measure of causation is a well-defined and coherent uni-dimensional construct. We propose that effectuation is a...