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The aim of this paper is to provide a better understanding of the evolution of small firm performance. We do so by studying performance changes on a two dimensional "growth– profitability performance space". It is well established that both growth and profitability are important dimensions of...
Firm growth is almost universally portrayed as a good thing, and is commonly used as a measure of success. Applying resource-based reasoning, we argue that growth is often not a sign of sound development. Specifically, we hypothesize that firms which grow without first securing high levels of...
Strategic entrepreneurship can be described as simultaneous opportunity seeking and advantage seeking. Younger firms are generally more flexible and therefore enjoy 'discovery advantages', whereas established firms tend to be resource rich and more experienced and consequently enjoy...
Firm growth is almost universally portrayed as a good thing, and is commonly used as a measure of success. Applying resource-based reasoning, we argue that growth is often not a sign of sound development. Specifically, we hypothesize that firms which grow without first securing high levels of...
This paper investigates the decision by Small and Medium Enterprises (SMEs) to raise funding via the sale of equity. Prior theoretical and empirical work on the ‘pecking order’ of funding has indicated that we should not expect SMEs to prefer equity funding over internal funding and external...
Principal Topic: Choice of an appropriate business model is essential to the nascent entrepreneurial firm. The term 'business model' describes the collective of the strategies and tactics the firm uses to make money and outlines the underlying economic logic that explains how the firm creates...
Principal Topic While a significant amount of research has investigated the factors that motivate individuals to start an entrepreneurial new venture, there is little research on the factors that motivate individuals to act entrepreneurially as an employee within an existing business (i.e. as...
The intention of an individual to behave entrepreneurially arises because the entrepreneur perceives self-employment (or entrepreneurial behaviour within an organization) to be utility-maximizing, and thus forms the motivation to behave entrepreneurially. As argued elsewhere, the intention to...
This study investigated the longitudinal behaviour of growth rates and profitability for a large sample of Australian firms. Similar to previous studies, growth rates were found to be much more volatile than profitability measures. Using a regression equation with lagged profit and growth...
An individual’s intention to behave entrepreneurially will have attitudinal and self-efficacy antecedents. Nascent entrepreneurs also have the choice to behave entrepreneurially in their own new business or to behave entrepreneurially in an existing business (as an intrapreneur). When faced...