Christian Lechner | Free University of Bozen-Bolzano (original) (raw)

Papers by Christian Lechner

Research paper thumbnail of Necessary Conditions and Theory-Method Compatibility in Quantitative Entrepreneurship Research

Entrepreneurship Theory and Practice

All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial ... more All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial outcomes. A condition is necessary when an entrepreneurial outcome emerges only in the presence or absence of that condition. While a necessary condition does not guarantee the outcome, it makes the outcome possible by virtue of its theoretical necessity. We discuss the philosophical roots and importance of necessary conditions in entrepreneurship. We offer an empirical illustration of necessary condition analysis using founder’s experience, a critical concept in entrepreneurship. We argue that theory-method compatibility in entrepreneurship research can be enhanced by explicitly accounting for necessary conditions.

Research paper thumbnail of When does managerial ability most affect value creation? Evidence from Factor Markets in feature film production

Research paper thumbnail of Entrepreneurial ecosystems and actor legitimacy

International Journal of Entrepreneurial Behaviour & Research, Nov 22, 2022

Purpose-This study contributes to a better understanding of the important actor-specific, micro-l... more Purpose-This study contributes to a better understanding of the important actor-specific, micro-level legitimacy dimensions in dynamic entrepreneurial ecosystems (EEs). Design/methodology/approach-Using an embedded case study approach and rich longitudinal data collected over 16 years within a French EE, the study analyzes the legitimacy gaining process of two actors coming from opposite founding conditions. Findings-Three dimensions of legitimacy (3L) are necessary to be accepted as functional actors within EEs: institutional legitimacy (IL) refers to the EE's acceptance of an actor as an institution active in the field of entrepreneurship; cultural legitimacy (CL) means that the actor is recognized as possessing and promoting values considered appropriate by the entrepreneurial community; relational legitimacy (RL) relates to the willingness of the entrepreneurial community to interact with the actor. These are complementary dimensions that members of EEs need to possess to acquire full legitimacy. Different paths are possible to achieve this full legitimacy. Research limitations/implications-Replicating the study with a comparative approach including more actors could represent an interesting avenue for research. Practical implications-This research provides insights into the underlying dimensions of legitimacy in EEs, how various actors gain legitimacy in such contexts and how this influences the dynamics of EEs. Originality/value-The results provide novel insights into the issue of legitimacy in EEs and legitimacy theory in general.

Research paper thumbnail of From invention to industry from a social movement perspective: the emergence of the 3D printing industry

Journal of Innovation and Entrepreneurship, Sep 28, 2020

In the entrepreneurship literature, the phenomenon of industry emergence has been largely investi... more In the entrepreneurship literature, the phenomenon of industry emergence has been largely investigated from an institutional perspective. Appropriate institutions would allow then a group of individual entrepreneurs ("the heroes") to create an industry through innovative ventures. New ventures create new industries and firm entry, survival, and exit drive industry evolution. Our research, however, explores what creates the favorable set of circumstances for new ventures to emerge and focuses on the pre-emergence phase and we propose that the patterns of emergence resemble those of social movements. Through an actor perspective, this research highlights the existence of diverse actors, not necessarily entrepreneurs, who are necessary to trigger a collective action during the pre-emergence phase of industries. This research is also distinct from entrepreneurial ecosystems as its development already requires some successful entrepreneurial action. The 3D printing industry was chosen as a single longitudinal case study, where the actors are the embedded units of analysis. The findings of the study lead to the identification of three aggregate dimensions-"Social Movement Composition," Temporal Engagement," and "Coalitions Development"-that were prevalent during the pre-emergence phase of the 3D printing industry. Our propositions emphasize the importance of large collective action and the role of multiple actors in order to create the conditions for, first, firm emergence and, the second, to the process of industry emergence.

Research paper thumbnail of How to acquire legitimacy and become a player in a regional innovation ecosystem? The case of a young university

Journal of Technology Transfer, May 23, 2020

Universities are recognized as a particular type of public organization. Due to the important rol... more Universities are recognized as a particular type of public organization. Due to the important role they are acquiring in the development of regional economies, universities are facing significant pressures to become more entrepreneurial and similar to private sector organizations. This new role requires universities to engage in substantial change activities in order to get legitimacy from their ecosystem. Change management literature has mainly assumed that changes in public-sector organizations are the result of top-down initiatives as well as the exercise of political clout. Instead, the role of agency and bottom-up dynamics in explaining change in public-sector organizations is still overlooked. Based on a longitudinal case study of a young university in Italy, this research explores its bottom-up process of internal transformation to become more entrepreneurial and fully legitimized in its local innovation ecosystem. In doing so, we contribute to existing literature in several ways. First, we add a process lens for understanding the transformation of a public actor not from the perspective of environmentally imposed changes processes, but through proactive interactions, role definition and activities. Second, we demonstrate that the entry of a key actor in a regional system unfreezes the existing equilibrium, by changing the distribution of competences and the awareness of other actors' activity. Third, we show that bottom-up processes favouring bandwagon effects are particularly appropriate for change processes of public institutions that are not affected by a substantial crisis (as usual trigger for change processes).

Research paper thumbnail of Understanding the emergence of an industry through the lens of Social Movements and Entrepreneurial Communities

Industry emergence is a complex phenomenon. Entrepreneurship literature has been characterized by... more Industry emergence is a complex phenomenon. Entrepreneurship literature has been characterized by individualistic explanations (‘hero’ entrepreneurs) that have been complemented by institutional approaches including the existence of functioning ecosystems. Sociology studies could offer alternative explanations for industry emergence. We draw from the concepts of Social Movements and Entrepreneurial Communities for framing the process of industry emergence in its initial phase. We synthesize the theoretical research on Social Movements, Entrepreneurial communities and industry emergence in an effort to develop a common conceptual framework that will help to better understand the pre-emergence of an industry. Our main contribution lies in understanding entrepreneurship and thus industry emergence as a community process in which multiple actors result eventually in a reduced number of early start-ups, which give rise to a new industry. In addition, we propose that the type of movement will lead to different enablers and barriers of industry emergence.

Research paper thumbnail of Entrepreneurial Team Composition and Strategic Choice: A Configurational Analysis

Proceedings - Academy of Management, Aug 1, 2018

The composition of entrepreneurial teams has a significant impact on the success and development ... more The composition of entrepreneurial teams has a significant impact on the success and development of new ventures. We enrich the discussion on the benefits of homogeneity or diversity in entrepreneurial teams. Using data from PSED II, we investigate the relationship between new venture team (NVT) composition and performance. By identifying six distinct team configurations, we demonstrate that teams need a certain degree of homogeneity, but if a certain threshold is satisfied, heterogeneity can be an advantage. The combination of high team cohesion and a deep and broad stock of experience is a superior configuration, as well as homogeneous teams that are highly educated. We further contribute to a better understanding of start-up strategies and time-to-market by developing new insights in the trade-off between homogeneity and heterogeneity.

Research paper thumbnail of The competitiveness of entrepreneurial firms from a network perspective

Research paper thumbnail of Necessary Conditions and Theory-Method Compatibility in Quantitative Entrepreneurship Research

Entrepreneurship Theory and Practice, May 22, 2022

All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial ... more All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial outcomes. A condition is necessary when an entrepreneurial outcome emerges only in the presence or absence of that condition. While a necessary condition does not guarantee the outcome, it makes the outcome possible by virtue of its theoretical necessity. We discuss the philosophical roots and importance of necessary conditions in entrepreneurship. We offer an empirical illustration of necessary condition analysis using founder's experience, a critical concept in entrepreneurship. We argue that theory-method compatibility in entrepreneurship research can be enhanced by explicitly accounting for necessary conditions.

Research paper thumbnail of Entrepreneurial Strategy: A Contingency Review and Outlook for Future Research

SAGE Publications Ltd eBooks, 2018

Research paper thumbnail of New Product Development — The Benetton Group

Gabler Verlag eBooks, 2004

Christian Lechner and Michael Dowling* New Product Development-The Benetton Group" 1. Case O... more Christian Lechner and Michael Dowling* New Product Development-The Benetton Group" 1. Case Overview 2. Luciano Benetton, the Benetton Family and the Benetton System 3. Colours for a Grey World 3.1 The Early Years 3.2 The Development of the Benetton Company 4. ...

Research paper thumbnail of The emergence of an innovation ecosystem in a low innovation region: Disrupting inertia by a young university

RePEc: Research Papers in Economics, Jun 1, 2019

Innovation ecosystems are characterised by a variety of complementary actors and relationships am... more Innovation ecosystems are characterised by a variety of complementary actors and relationships among them. Universities are considered a key player in innovation ecosystems for their ability of generating knowledge and qualified expertise for entrepreneurial innovation. While much attention has been paid to mature ecosystems characterised by cutting-edge technologies, the role of less established universities in less innovative regions, characterised by a lack of relationships, familyowned firms, difficult university-industry collaborations, but great potential, has remained very much underexplored. Based on a longitudinal case study of a young university in Italy, this paper aims at contributing to existing literature by looking at the role of the university in defining actors’ positions and relationships in establishing an innovation ecosystem. In doing so, we contribute to existing literature in several ways. First, we highlight that the formation of an innovation ecosystem in a small area highly depends on the university’s potential of disrupting established relationships, creating new ones and, thus, playing an active role in designing the ecosystem. Second, we provide a process-based view for understanding the establishment of an innovation ecosystem through the evolution of interactions, roles and activities. Finally, we describe the micro-dynamics characterising innovation ecosystem emergence and institutionalisation and we show that bottomup approaches are possible as well.

Research paper thumbnail of Entrepreneurial ecosystems and actor legitimacy

International Journal of Entrepreneurial Behavior & Research

PurposeThis study contributes to a better understanding of the important actor-specific, micro-le... more PurposeThis study contributes to a better understanding of the important actor-specific, micro-level legitimacy dimensions in dynamic entrepreneurial ecosystems (EEs).Design/methodology/approachUsing an embedded case study approach and rich longitudinal data collected over 16 years within a French EE, the study analyzes the legitimacy gaining process of two actors coming from opposite founding conditions.FindingsThree dimensions of legitimacy (3L) are necessary to be accepted as functional actors within EEs: institutional legitimacy (IL) refers to the EE's acceptance of an actor as an institution active in the field of entrepreneurship; cultural legitimacy (CL) means that the actor is recognized as possessing and promoting values considered appropriate by the entrepreneurial community; relational legitimacy (RL) relates to the willingness of the entrepreneurial community to interact with the actor. These are complementary dimensions that members of EEs need to possess to acquire...

Research paper thumbnail of Entrepreneurial Strategy: A Contingency Review and Outlook for Future Research

The SAGE Handbook of Small Business and Entrepreneurship

Research paper thumbnail of Passion, Expert Knowledge, and Community Entrepreneurship

In order to better understand how passion is related to entrepreneurship, it is essential to cons... more In order to better understand how passion is related to entrepreneurship, it is essential to consider all facets of passion before investigating the effects of more restricted forms such as (harmonious) entrepreneurial passion. Different forms of passion are related to different forms of perceptions and behaviors. Starting from passions for domains that are distinct from entrepreneurship leads to a non-trivial relationship with entrepreneurship and might eventually inform why even people with entrepreneurial passion might not start new ventures.

Research paper thumbnail of To Be or To Be Managed: the Resource – Performance Link in the Motion Picture Industry

Research paper thumbnail of 20. U nternehmensnetzwerke: Wachstumsfaktor fiir Griinder

Research paper thumbnail of Entrepreneurial Team Composition and Strategic Choice: A Configurational Analysis

Academy of Management Proceedings, 2018

The composition of entrepreneurial teams has a significant impact on the success and development ... more The composition of entrepreneurial teams has a significant impact on the success and development of new ventures. We enrich the discussion on the benefits of homogeneity or diversity in entrepreneurial teams. Using data from PSED II, we investigate the relationship between new venture team (NVT) composition and performance. By identifying six distinct team configurations, we demonstrate that teams need a certain degree of homogeneity, but if a certain threshold is satisfied, heterogeneity can be an advantage. The combination of high team cohesion and a deep and broad stock of experience is a superior configuration, as well as homogeneous teams that are highly educated. We further contribute to a better understanding of start-up strategies and time-to-market by developing new insights in the trade-off between homogeneity and heterogeneity.

Research paper thumbnail of Many Roads Lead to Rome: How Human, Social, and Financial Capital Are Related to New Venture Survival

Entrepreneurship Theory and Practice, 2019

Given variance in entrepreneurs’ capital endowments, the question of sufficient (or insufficient)... more Given variance in entrepreneurs’ capital endowments, the question of sufficient (or insufficient) starting conditions enabling a pathway to survival is critical in entrepreneurship. Drawing on the subjectivist theory of entrepreneurship (STE), we adopt a configurational approach. Our results show how combinations of human and social capital are related to survival while overreliance on financial capital is not. From a subjectivist perspective, we reveal a potential gap between identifying and exploiting an opportunity. The findings provide some novel insights that help reframe conflicting results as to whether capital endowments are substitutes or complements.

Research paper thumbnail of Overconfidence Measure

Research paper thumbnail of Necessary Conditions and Theory-Method Compatibility in Quantitative Entrepreneurship Research

Entrepreneurship Theory and Practice

All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial ... more All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial outcomes. A condition is necessary when an entrepreneurial outcome emerges only in the presence or absence of that condition. While a necessary condition does not guarantee the outcome, it makes the outcome possible by virtue of its theoretical necessity. We discuss the philosophical roots and importance of necessary conditions in entrepreneurship. We offer an empirical illustration of necessary condition analysis using founder’s experience, a critical concept in entrepreneurship. We argue that theory-method compatibility in entrepreneurship research can be enhanced by explicitly accounting for necessary conditions.

Research paper thumbnail of When does managerial ability most affect value creation? Evidence from Factor Markets in feature film production

Research paper thumbnail of Entrepreneurial ecosystems and actor legitimacy

International Journal of Entrepreneurial Behaviour & Research, Nov 22, 2022

Purpose-This study contributes to a better understanding of the important actor-specific, micro-l... more Purpose-This study contributes to a better understanding of the important actor-specific, micro-level legitimacy dimensions in dynamic entrepreneurial ecosystems (EEs). Design/methodology/approach-Using an embedded case study approach and rich longitudinal data collected over 16 years within a French EE, the study analyzes the legitimacy gaining process of two actors coming from opposite founding conditions. Findings-Three dimensions of legitimacy (3L) are necessary to be accepted as functional actors within EEs: institutional legitimacy (IL) refers to the EE's acceptance of an actor as an institution active in the field of entrepreneurship; cultural legitimacy (CL) means that the actor is recognized as possessing and promoting values considered appropriate by the entrepreneurial community; relational legitimacy (RL) relates to the willingness of the entrepreneurial community to interact with the actor. These are complementary dimensions that members of EEs need to possess to acquire full legitimacy. Different paths are possible to achieve this full legitimacy. Research limitations/implications-Replicating the study with a comparative approach including more actors could represent an interesting avenue for research. Practical implications-This research provides insights into the underlying dimensions of legitimacy in EEs, how various actors gain legitimacy in such contexts and how this influences the dynamics of EEs. Originality/value-The results provide novel insights into the issue of legitimacy in EEs and legitimacy theory in general.

Research paper thumbnail of From invention to industry from a social movement perspective: the emergence of the 3D printing industry

Journal of Innovation and Entrepreneurship, Sep 28, 2020

In the entrepreneurship literature, the phenomenon of industry emergence has been largely investi... more In the entrepreneurship literature, the phenomenon of industry emergence has been largely investigated from an institutional perspective. Appropriate institutions would allow then a group of individual entrepreneurs ("the heroes") to create an industry through innovative ventures. New ventures create new industries and firm entry, survival, and exit drive industry evolution. Our research, however, explores what creates the favorable set of circumstances for new ventures to emerge and focuses on the pre-emergence phase and we propose that the patterns of emergence resemble those of social movements. Through an actor perspective, this research highlights the existence of diverse actors, not necessarily entrepreneurs, who are necessary to trigger a collective action during the pre-emergence phase of industries. This research is also distinct from entrepreneurial ecosystems as its development already requires some successful entrepreneurial action. The 3D printing industry was chosen as a single longitudinal case study, where the actors are the embedded units of analysis. The findings of the study lead to the identification of three aggregate dimensions-"Social Movement Composition," Temporal Engagement," and "Coalitions Development"-that were prevalent during the pre-emergence phase of the 3D printing industry. Our propositions emphasize the importance of large collective action and the role of multiple actors in order to create the conditions for, first, firm emergence and, the second, to the process of industry emergence.

Research paper thumbnail of How to acquire legitimacy and become a player in a regional innovation ecosystem? The case of a young university

Journal of Technology Transfer, May 23, 2020

Universities are recognized as a particular type of public organization. Due to the important rol... more Universities are recognized as a particular type of public organization. Due to the important role they are acquiring in the development of regional economies, universities are facing significant pressures to become more entrepreneurial and similar to private sector organizations. This new role requires universities to engage in substantial change activities in order to get legitimacy from their ecosystem. Change management literature has mainly assumed that changes in public-sector organizations are the result of top-down initiatives as well as the exercise of political clout. Instead, the role of agency and bottom-up dynamics in explaining change in public-sector organizations is still overlooked. Based on a longitudinal case study of a young university in Italy, this research explores its bottom-up process of internal transformation to become more entrepreneurial and fully legitimized in its local innovation ecosystem. In doing so, we contribute to existing literature in several ways. First, we add a process lens for understanding the transformation of a public actor not from the perspective of environmentally imposed changes processes, but through proactive interactions, role definition and activities. Second, we demonstrate that the entry of a key actor in a regional system unfreezes the existing equilibrium, by changing the distribution of competences and the awareness of other actors' activity. Third, we show that bottom-up processes favouring bandwagon effects are particularly appropriate for change processes of public institutions that are not affected by a substantial crisis (as usual trigger for change processes).

Research paper thumbnail of Understanding the emergence of an industry through the lens of Social Movements and Entrepreneurial Communities

Industry emergence is a complex phenomenon. Entrepreneurship literature has been characterized by... more Industry emergence is a complex phenomenon. Entrepreneurship literature has been characterized by individualistic explanations (‘hero’ entrepreneurs) that have been complemented by institutional approaches including the existence of functioning ecosystems. Sociology studies could offer alternative explanations for industry emergence. We draw from the concepts of Social Movements and Entrepreneurial Communities for framing the process of industry emergence in its initial phase. We synthesize the theoretical research on Social Movements, Entrepreneurial communities and industry emergence in an effort to develop a common conceptual framework that will help to better understand the pre-emergence of an industry. Our main contribution lies in understanding entrepreneurship and thus industry emergence as a community process in which multiple actors result eventually in a reduced number of early start-ups, which give rise to a new industry. In addition, we propose that the type of movement will lead to different enablers and barriers of industry emergence.

Research paper thumbnail of Entrepreneurial Team Composition and Strategic Choice: A Configurational Analysis

Proceedings - Academy of Management, Aug 1, 2018

The composition of entrepreneurial teams has a significant impact on the success and development ... more The composition of entrepreneurial teams has a significant impact on the success and development of new ventures. We enrich the discussion on the benefits of homogeneity or diversity in entrepreneurial teams. Using data from PSED II, we investigate the relationship between new venture team (NVT) composition and performance. By identifying six distinct team configurations, we demonstrate that teams need a certain degree of homogeneity, but if a certain threshold is satisfied, heterogeneity can be an advantage. The combination of high team cohesion and a deep and broad stock of experience is a superior configuration, as well as homogeneous teams that are highly educated. We further contribute to a better understanding of start-up strategies and time-to-market by developing new insights in the trade-off between homogeneity and heterogeneity.

Research paper thumbnail of The competitiveness of entrepreneurial firms from a network perspective

Research paper thumbnail of Necessary Conditions and Theory-Method Compatibility in Quantitative Entrepreneurship Research

Entrepreneurship Theory and Practice, May 22, 2022

All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial ... more All-or-nothing necessary conditions are critical for the unfolding of subsequent entrepreneurial outcomes. A condition is necessary when an entrepreneurial outcome emerges only in the presence or absence of that condition. While a necessary condition does not guarantee the outcome, it makes the outcome possible by virtue of its theoretical necessity. We discuss the philosophical roots and importance of necessary conditions in entrepreneurship. We offer an empirical illustration of necessary condition analysis using founder's experience, a critical concept in entrepreneurship. We argue that theory-method compatibility in entrepreneurship research can be enhanced by explicitly accounting for necessary conditions.

Research paper thumbnail of Entrepreneurial Strategy: A Contingency Review and Outlook for Future Research

SAGE Publications Ltd eBooks, 2018

Research paper thumbnail of New Product Development — The Benetton Group

Gabler Verlag eBooks, 2004

Christian Lechner and Michael Dowling* New Product Development-The Benetton Group" 1. Case O... more Christian Lechner and Michael Dowling* New Product Development-The Benetton Group" 1. Case Overview 2. Luciano Benetton, the Benetton Family and the Benetton System 3. Colours for a Grey World 3.1 The Early Years 3.2 The Development of the Benetton Company 4. ...

Research paper thumbnail of The emergence of an innovation ecosystem in a low innovation region: Disrupting inertia by a young university

RePEc: Research Papers in Economics, Jun 1, 2019

Innovation ecosystems are characterised by a variety of complementary actors and relationships am... more Innovation ecosystems are characterised by a variety of complementary actors and relationships among them. Universities are considered a key player in innovation ecosystems for their ability of generating knowledge and qualified expertise for entrepreneurial innovation. While much attention has been paid to mature ecosystems characterised by cutting-edge technologies, the role of less established universities in less innovative regions, characterised by a lack of relationships, familyowned firms, difficult university-industry collaborations, but great potential, has remained very much underexplored. Based on a longitudinal case study of a young university in Italy, this paper aims at contributing to existing literature by looking at the role of the university in defining actors’ positions and relationships in establishing an innovation ecosystem. In doing so, we contribute to existing literature in several ways. First, we highlight that the formation of an innovation ecosystem in a small area highly depends on the university’s potential of disrupting established relationships, creating new ones and, thus, playing an active role in designing the ecosystem. Second, we provide a process-based view for understanding the establishment of an innovation ecosystem through the evolution of interactions, roles and activities. Finally, we describe the micro-dynamics characterising innovation ecosystem emergence and institutionalisation and we show that bottomup approaches are possible as well.

Research paper thumbnail of Entrepreneurial ecosystems and actor legitimacy

International Journal of Entrepreneurial Behavior & Research

PurposeThis study contributes to a better understanding of the important actor-specific, micro-le... more PurposeThis study contributes to a better understanding of the important actor-specific, micro-level legitimacy dimensions in dynamic entrepreneurial ecosystems (EEs).Design/methodology/approachUsing an embedded case study approach and rich longitudinal data collected over 16 years within a French EE, the study analyzes the legitimacy gaining process of two actors coming from opposite founding conditions.FindingsThree dimensions of legitimacy (3L) are necessary to be accepted as functional actors within EEs: institutional legitimacy (IL) refers to the EE's acceptance of an actor as an institution active in the field of entrepreneurship; cultural legitimacy (CL) means that the actor is recognized as possessing and promoting values considered appropriate by the entrepreneurial community; relational legitimacy (RL) relates to the willingness of the entrepreneurial community to interact with the actor. These are complementary dimensions that members of EEs need to possess to acquire...

Research paper thumbnail of Entrepreneurial Strategy: A Contingency Review and Outlook for Future Research

The SAGE Handbook of Small Business and Entrepreneurship

Research paper thumbnail of Passion, Expert Knowledge, and Community Entrepreneurship

In order to better understand how passion is related to entrepreneurship, it is essential to cons... more In order to better understand how passion is related to entrepreneurship, it is essential to consider all facets of passion before investigating the effects of more restricted forms such as (harmonious) entrepreneurial passion. Different forms of passion are related to different forms of perceptions and behaviors. Starting from passions for domains that are distinct from entrepreneurship leads to a non-trivial relationship with entrepreneurship and might eventually inform why even people with entrepreneurial passion might not start new ventures.

Research paper thumbnail of To Be or To Be Managed: the Resource – Performance Link in the Motion Picture Industry

Research paper thumbnail of 20. U nternehmensnetzwerke: Wachstumsfaktor fiir Griinder

Research paper thumbnail of Entrepreneurial Team Composition and Strategic Choice: A Configurational Analysis

Academy of Management Proceedings, 2018

The composition of entrepreneurial teams has a significant impact on the success and development ... more The composition of entrepreneurial teams has a significant impact on the success and development of new ventures. We enrich the discussion on the benefits of homogeneity or diversity in entrepreneurial teams. Using data from PSED II, we investigate the relationship between new venture team (NVT) composition and performance. By identifying six distinct team configurations, we demonstrate that teams need a certain degree of homogeneity, but if a certain threshold is satisfied, heterogeneity can be an advantage. The combination of high team cohesion and a deep and broad stock of experience is a superior configuration, as well as homogeneous teams that are highly educated. We further contribute to a better understanding of start-up strategies and time-to-market by developing new insights in the trade-off between homogeneity and heterogeneity.

Research paper thumbnail of Many Roads Lead to Rome: How Human, Social, and Financial Capital Are Related to New Venture Survival

Entrepreneurship Theory and Practice, 2019

Given variance in entrepreneurs’ capital endowments, the question of sufficient (or insufficient)... more Given variance in entrepreneurs’ capital endowments, the question of sufficient (or insufficient) starting conditions enabling a pathway to survival is critical in entrepreneurship. Drawing on the subjectivist theory of entrepreneurship (STE), we adopt a configurational approach. Our results show how combinations of human and social capital are related to survival while overreliance on financial capital is not. From a subjectivist perspective, we reveal a potential gap between identifying and exploiting an opportunity. The findings provide some novel insights that help reframe conflicting results as to whether capital endowments are substitutes or complements.

Research paper thumbnail of Overconfidence Measure