BUSINESS IDEA SOURCES AND ENTREPRENEURSHIP: AN INSTITUTIONAL VIEW презентация

Motivation Prior work shows that venture performance is shaped by characteristics of: The founding team (Beckman, Burton, etc.) Growth Market (Eisenhardt and Schoonhoven, 1990) Technology (Shane) User-driven innovation (von Hippel, Sonali

Слайд 1BUSINESS IDEA SOURCES AND ENTREPRENEURSHIP: AN INSTITUTIONAL VIEW
Chuck Eesley (Stanford)
Xiao Hu

(Tsinghua University)
Delin Yang (Tsinghua University)

Слайд 2Motivation
Prior work shows that venture performance is shaped by characteristics of:
The

founding team (Beckman, Burton, etc.)
Growth Market (Eisenhardt and Schoonhoven, 1990)
Technology (Shane)
User-driven innovation (von Hippel, Sonali Shah, etc.)

Gap: Prior work has rarely examined whether the source of the startup idea exerts an influence on performance
Entrepreneurial Ideation and Organizational Performance: Imprinting Effects (Eesley, Hsu, and Roberts, WP)

Слайд 3Policy-driven business idea source
Government context from policies - contacting with

government (communicating with related government officials) and following the policy change closely.
For example, entrepreneurs might start new ventures based on property policy reform (Walder, 1999)

Слайд 4
Market-driven business idea source indicates that entrepreneurs choose to obtain their

business ideas from market opportunities by contacting other market participants (suppliers, customers, competitors).
When an entrepreneur chooses to obtain his business idea from market-driven source, he has many ways to identify better (new) potential markets or better (new) ways to serve target markets (Johne, 1999)


Слайд 5Hypothesis 1.
In the transitional institutional environment with high level of

dynamics, entrepreneurs who choose to obtain their business idea from policy-driven source will create better performing firms.


Слайд 6Hypothesis 2.
In the stable institutional environment with low dynamics and

uncertainty, entrepreneurs who choose to obtain their business idea from market-driven source will create better performing firms.


Слайд 7Hypothesis 3:
Entrepreneurs who choose to obtain their business idea from

both policy-driven and market-driven source will create better performing firms.


Слайд 8Research Context: China
transitional institutional from 1988 to 1999,
stable institutional environment

from 2000 to 2002,
transitional institutional environment from 2003 to 2009,

Слайд 9
Tsinghua Survey
Unique data on firm origins, early composition and multiple stages

of performance measures
Alumni: ~26,700 mailed; 3,000 surveys, 11% response rate
General biographic information, education and career histories, family background, attitudes toward entrepreneurship.
718 individuals (24%) indicated founding at least one company
Additional questions for self-identified entrepreneurs:
Company origins, structure, and performance.
Advantages: Defined‘at risk’ set, first abroad, detailed work history and founding data, less biased by govt. concerns

Charles Zhang, founder and CEO of Sohu.com


Слайд 11Industries


Слайд 12Sample
Population:
62.5% in engineering 11.9% in sciences
12.9% in humanities (architecture, medicine and

law comprise the remainder)
25-30% women19.2% doctorate degrees
53.4% graduate degrees

Tsinghua survey sample:
62.2% engineering
10.6% sciences13.7% humanities
28% women
19.3% doctorate degrees
53.9% graduate degrees


Слайд 13DV: ln(Revenue). We measured entrepreneurial performance as the natural logarithm of

revenue in the most recent fiscal year for the entrepreneur’s firm.

IVs:
Policy-driven Source measures, on a scale of 1 to 8, the degree to which entrepreneurs believed that the government’s policy was an important idea source for their ventures.

Market-driven Source, as the measure of the extent that an entrepreneur’s idea source depended on new market opportunities at that time.

Market-driven Source measures, on a scale of 1 to 8, the degree to which entrepreneurs believed that market opportunities were an important idea source for their ventures.

Context - interviews


Слайд 14How are Tsinghua’s Entrepreneurs Born?


Слайд 15Where did the primary idea for the start-up come from?


Слайд 18Contributions
Ideas for customers/users may not always be the best

Source of the

idea appears to play an important role in venture quality – deserving of greater attention in future research

Varies with the institutional environment

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