Entrepreneurship in family firms: an updated bibliometric overview

Research on entrepreneurship in family firms has grown exponentially over the past two decades. Due to the various theoretical perspectives and contexts found here however, this body of research remains fragmented, with a unified understanding of the current state of knowledge and the opportunities for future research in the field continuing to lack. In this study, we address this gap by conducting an updated bibliometric analysis of the research on entrepreneurship in family firms. Here we integrate two different bibliometric methods to provide a more comprehensive picture of the field, unveiling its intellectual foundations and current research discourses and how these two are related. To do this, we first conduct a co-citation analysis clustering the intellectual foundations of the research on entrepreneurship in family firms. Second, a bibliographic coupling of recent publications from 2010 to 2021 provides a transparent structure of current research discourses. Third, analyzing which intellectual foundations are primarily cited in each current research stream unveils the dominant theoretical paradigms in the current state of research. Analyzing 570 published studies, we identified four intellectual foundations of entrepreneurship in family firms: socioemotional wealth (SEW), entrepreneurial orientation, family-embedded resources, and agency theory. The current research can be clustered into seven main discourses: entrepreneurial motivation, gender and success, entrepreneurial orientation, individual and firm-level characteristics, the family embedded network, family firm internationalization, and family heterogeneity. An integrative network diagram provides an overview of the research field’s development while also identifying the gaps to be addressed by future research.

Impact of entrepreneurial orientation and risk sharing on organizational performance influencing role of news media and public opinion

An entrepreneurial orientation is a method of implementing a strategy that makes use of a variety of resources that are owned by organizations. Entrepreneurial orientation is one of the primary factors that led to the company's founding. Risk sharing is a useful tactic that can be implemented by businesses in order to mitigate the amount of risk to which they are exposed. As a consequence of this, the objective of the research is to ascertain how the performance of an enterprise can be affected by the presence of both an entrepreneurial orientation and shared risk. The proliferation of news media has led to modifications in the ways in which businesses carry out their day-to-day operations, which in turn has an effect on the overall success of the organization. As a direct consequence of this, the research looked into the function that the news media play as a moderator of the connections that exist between entrepreneurial orientation, risk sharing, and the level of performance achieved by organizations. Even for enormous, well-known businesses that are active on a global scale, damaging publicity has the potential to lower the value of their companies. The aim of this study was to investigate the impact of entrepreneurial orientation and risk sharing on organizational performance with the mediating role of news media and moderating role of public opinion. In order to achieve the objective of the study, a quantitative research approach was utilized. Data were collected from 450 managers of SMEs with the help of a questionnaire that was adapted from previous studies. A simple random sampling technique was used to collect data. The findings of the study showed that the relationship between entrepreneurial orientation, risk sharing, and organizational performance is positive and significant. The findings also showed that news media significantly mediated this relationship and public opinion moderated the relationship between news media and organizational performance. The current study has some practical and managerial implications which help SMEs to increase their performance.

Impact of organizational characteristics on employees' entrepreneurial orientation with mediating role of knowledge process capabilities and moderating role of psychological factors in the era of COVID-19

Purpose

The study aims to investigate the impact of organizational characteristics and knowledge process capabilities on the entrepreneurial orientation among the manufacturing industry employees in the Punjab province of Pakistan. Additionally, this study has examined the mediating role of knowledge process capabilities in the relationship between organizational characteristics and entrepreneurial orientation among those employees and the moderating effect of psychological factors on the relationship between organizational characteristics and entrepreneurial orientation.

Design methodology and approach

The study has employed the survey-based methodology and data are collected with the aid of self-administered questionnaires. This study utilized the partial least squares structural equation modeling (PLS-SEM) to establish the validity and reliability of the measurement model and test the relationships. The response rate of the current study is 64.66%.

Findings

The study findings have shown mixed results as one of the organizational characteristics, namely, resource and time availability is an insignificant determinate of entrepreneurial orientation among the manufacturing industry employees in Punjab province of Pakistan. Whereas management support, rewards, work discretion, and knowledge process capabilities appear as significant determinates of employees' entrepreneurial orientation. The results indicated that knowledge process capabilities have a mediating role in the relationship between organizational characteristics and employees' entrepreneurial orientation. Moreover, psychological factors, namely, propensity to take risk and locus of control have a significant moderating role on the relationship of management support, rewards, and work discretion with employees' entrepreneurial orientation.

Practical implications

The empirical insights on the study are valuable for policymakers and managers in manufacturing sectors of developing countries, such as Pakistan, to enrich their work performance through the understanding impact of organizational characteristics and knowledge process capabilities on the entrepreneurial orientation with moderating role of psychological factors.

Originality and value

Studies on the mediating impact of knowledge process capabilities on the linkage between organizational characteristics and entrepreneurial orientation with the moderating role of psychological factors remain limited. This study is one of the earliest studies that investigate these inter-relationships.

Passion and perseverance: How the components of grit affect the probability of starting a business

There is vast evidence that accounts for the association between entrepreneurial orientation (EO) and the probability of starting a business (PSB). However, there are not many studies that test how psychological factors moderate this relationship. A variable that has been little studied in this relationship is Grit. Grit is considered a personality trait defined as perseverance and passion for long-term goals. Grit considers two sub-dimensions, one linked to the consistency of interests (Grit-Passion) and the other linked to perseverance in the effort (Grit-Perseverance). The objective of this article is to analyze the moderating role that both sub-dimensions of grit plays in the relationship between EO and PSB, considering its interaction with sociodemographic variables such as age, gender, and culture. This cross-sectional study has a sample of 1,761 participants, active workers (49.8% men; mean age 41.15 years, SD = 12.72 years; 22.9% Colombian and 77.1% Spanish). The EO scale and a Grit Scale were applied. In addition, participants were asked, based on their perception, how likely they were to start their own business within the next 5 years. A simple moderation analysis was considered to test the moderating role of grit in the relationship between EO and PSB. Subsequently, a double moderation analysis was carried out in order to identify which sociodemographic variables moderate the moderating effect of grit on the relationship in question. The results show that only the Grit-Passion component of grit moderates the relationship between EO and PSB. Regarding the sociodemographic variables, neither age, culture, nor gender showed a moderating effect on the moderation exercised by Grit-Passion in the relationship between OE and PSB. The results are discussed in terms of psychological capital, particularly with an emphasis on explaining why only the Grit-Passion shows a moderating effect on the relationship between EO and PSB, in detriment of Grit-Perseverance. In addition, the power of grit in the field of entrepreneurship is discussed, considering that its moderating effect is transversal to variations in age, gender and culture, as well as its relevance when considering interventions and pedagogical models in the field of entrepreneurship.

When to become an electronic business venture after the COVID-19 pandemic? The role of strategic orientation and perceived environmental turbulence in determining online market entry timing

After the COVID-19 epidemic, a growing number of commercial entities have decided to enter the online platform and operated as an electronic business venture. However, the timing of entering the online market is a strategically important issue. On the basis of social capital theory and resource-based view, this study attempts to understand the different impacts of two strategic orientations (i.e., Guanxi orientation and entrepreneurial orientation) and perceived environmental turbulence (i.e., market turbulence and political turbulence) on online market entry timing. We test four hypotheses using data collected from 174 Chinese companies. Our results confirm that entrepreneurial orientation negatively impacts online market entry timing, and this effect is moderated by perceived market turbulence such that the negative relationship between entrepreneurial orientation and online market entry timing will be strengthened in higher market turbulence. By contrast, Guanxi orientation positively impacts online market entry timing, and the positive relationship between Guanxi orientation and online market entry timing will be weakened in higher political turbulence. Implications and future research directions are discussed.

Realizing supply chain agility under time pressure: Ad hoc supply chains during the COVID‐19 pandemic

When the COVID‐19 pandemic began in 2020, the medical product industry faced an unusual demand shock for personal protective equipment (PPE), including face masks, face shields, disinfectants, and gowns. Companies from various industries responded to the urgent need for these potentially life‐saving products by adopting ad hoc supply chains in an exceptionally short time: They found new suppliers, developed the products, ramped‐up production, and distributed to new customers within weeks or even days. We define these supply chains as ad hoc supply chains that are built for a specific need, an immediate need, and a time‐limited need. By leveraging a unique sampling, we examined how companies realize supply chain agility when building ad hoc supply chains. We develop an emergent theoretical model that proposes dynamic capabilities to enable companies building ad hoc supply chains in response to a specific need, moderated by an entrepreneurial orientation allowing firms to leverage dynamic capabilities at short notice and a temporary orientation that increases a company's focus on exploiting the short‐term opportunity of ad hoc supply chains.

The Mediating Effect of Innovation in Between Strategic Orientation and Enterprise Performance: Evidence From Malaysian Manufacturing Small-to-Medium-Sized Enterprises

Strategic orientation and innovation are vital determinants for accelerating the performance of small-to-medium-sized enterprises (SMEs). However, there is a lack of empirical evidence confirming the innovation at the product and process levels that instigated the SMEs' performance. Moreover, the mediating effect of process and product innovation can play a significant role in strategic orientation and manufacturing SMEs' performance. In this respect, this study aims to examine the mediating effect of product and process innovation between strategic orientation (i.e., market, entrepreneurial, and customer orientation) and the performance of Malaysian manufacturing SMEs. The questionnaire survey gathered data from 360 manufacturing SMEs and was analyzed using partial least square structural equation modeling (PLS-SEM) to achieve these research objectives. The study analysis established that customer and entrepreneurial orientation significantly influence product and service innovation. However, the market orientation is significant for process innovation but insignificant for product-level innovation among SMEs. The study's consequences exposed that process innovation has significantly mediated between the strategic (market, customer, and entrepreneurial) orientation and SMEs performance. It implies that market, entrepreneurial, and customer-related strategies would substantially improve SMEs' performance by harnessing innovation at product and process levels. The core insights provided by the current work are to strengthen the strategic orientation that can promote product and process innovation, thereby harnessing the SMEs' performance. Additionally, the study's significance and limitations were reported at the end.

Small business survival and COVID-19 - An exploratory analysis of carriers

Small businesses are more susceptible to cash flow problems created by the COVID-19 pandemic putting them in jeopardy of survival. This research utilized a case study methodology that focused on small businesses in the trucking industry to assess the impact of this pandemic on the supply chain. Power imbalances can occur in the supply chain when certain parties act opportunistically. These imbalances are analyzed through theories of Resource Dependence, Resource Orchestration, and Entrepreneurial Orientation and embellished through the business failure and crisis management literature. Using actual data, the study shows the power shifts in the supply chain. Using qualitative data, the responses taken by these small businesses to survive the crisis were reviewed. The sales data of these small businesses were then compared to a national transportation index. The results of the comparison show more volatility among these businesses than the index. Both small businesses utilized their entrepreneurial orientation (EO) by taking forward-looking actions to reduce their risk exposure and avoid failure. They also utilized resource orchestration theory by restructuring their resource portfolio to lower their cost structures via selected layoffs. Finally, they took advantage of market opportunities by obtaining PPP loans and pursuing new customer opportunities.

Product Market Competition and Firm Performance: Business Survival Through Innovation and Entrepreneurial Orientation Amid COVID-19 Financial Crisis

The product market competition has become a global challenge for business organizations in the challenging and competitive market environment in the influx of the COVID-19 outbreak. The influence of products competition on organizational performance in developed economies has gained scholars' attention, and numerous studies explored its impacts on business profitability. The existing studies designate mixed findings between the linkage of CSR practices and Chinese business firms' healthier performance in emerging economies; however, the current global crisis due to the coronavirus has made product market completion fierce, which ultimately affects business firms' performance. This study focuses on this logical global challenge, investigates the rationale, and examines product-market completion impact on firms' performance operating in the Chinese markets. The study collected data from the annual reports of Chinese business organizations with A-share listing and registered with the database of China Stock Markets and Accounting Research (CSMAR). The study employed a Generalized Method of Moment technique and investigated the connection between product market competition and Chinese firm performance. The empirical analysis of this study highlights the conclusion that market competition positively and significantly affected business firms' performance. This study specified that product market competition play a dynamic and indispensable role in achieving healthier firm performance in the Chinese markets. This study provides valuable insights on practical implications and future research directions for the scholars to draw interesting results with new study models.

Role of Technological Knowledge and Entrepreneurial Orientation on Entrepreneurial Success: A Mediating Role of Psychological Capital

This study pursues to build the conceptual model of entrepreneurial success (ES) that discusses the concept and phenomenon of ES and its perquisites and outcomes. This proposed mode anticipated that factors technological knowledge (TK), entrepreneurial orientation (EO), and psychological knowledge influence ES. This paper explains previous literature on perquisites, the phenomenon of TK, EO and psychological knowledge, and ES. This conceptual paper targets the scholarly works that provide support for the proposed model. A significant contribution of this paper is to propose an original relationship between prerequisites, phenomena, and consequences in ES. The proposed model shows a novel conceptualization of how these constructs may be connected to affect ES outcomes. This study enhances the literature by providing the theoretical literature of forerunners and outcomes for ES. In addition, this study has important implications for practitioners and entrepreneurs to generate success in entrepreneurial activities. Based on new insights, this study also developed and suggested new approaches and opportunities for future research.

Information and Communication Technology and Organizational Performance During Covid-19 Pandemic: The Role of Organizational Commitment, Growth Mindset, and Entrepreneurial Orientation

The purpose of this study is to assess how information and communication technology (ICT) adoption influences organizational performance (OP) during the Covid-19 pandemic by highlighting psychometric variables such as employees’ organizational commitment (OC), growth mindset (GM), and entrepreneurial orientation (EO). Based on the complementarity theory, we built a theoretical framework where OC, GM, and EO mediate the influence of ICT on OP and tested hypotheses proposed. Responses of 297 employees from agriculture cooperatives in Côte d’Ivoire were obtained on the basis of questionnaires which composed the data for this study. The empirical analysis affirmed the significant and positive effect of ICT adoption on OP, and the significant mediating effect of OC and GM in the relationship between ICT adoption and OP. However, the role of EO in mediating the influence of ICT adoption on OP is insignificant. This research increases understanding of the underlying process of the relationship between ICT adoption and organizational performance during the Covid-19 pandemic.

Entrepreneurial Learning, Self-Efficacy, and Firm Performance: Exploring Moderating Effect of Entrepreneurial Orientation

Although the impact entrepreneurial learning on firm performance has attracted significant attention, a comprehensive understanding by integrating entrepreneurial orientation and individual self-efficacy remain poorly understood. We fill this void by integrating the above variables into a model and examine these relations. Findings from a sample of 411 nascent entrepreneurs support that entrepreneurial learning is positively related to firm performance, and this relationship is fully mediated by entrepreneurial self-efficacy (ESE). We also found entrepreneurial orientation strengthens the positive impact of entrepreneurial learning on ESE. The findings indicate that ESE must be in place to maximize the effect of entrepreneurial learning on performance, and entrepreneurial orientation is an important contingency in shaping entrepreneurial learning's impact on nascent entrepreneur's self-efficacy.

Entrepreneurship and Resilience in Spanish Sports Clubs: A Cluster Analysis

Entrepreneurial orientation can be an effective response by sports clubs to manage a recession, such as the COVID-19 crisis. Therefore, its study can be fundamental to understand different ways of managing a recession. This study analyzes the entrepreneurial orientation of Spanish non-profit sports clubs to identify different groups and their profiles. The sample is composed of 145 Spanish non-profit sports clubs. Different validated scales have been used to analyze entrepreneurial orientation, business model adaptation, service quality, and economic and social performance (performance in social impact and performance in social causes). Entrepreneurial orientation is the variable used to differentiate the groups. This is made up of three dimensions: innovation, risk-taking, and proactivity. According to the results obtained, there are three groups of sports clubs according to their entrepreneurial orientation: non-entrepreneurs (n = 11), moderate entrepreneurs (n = 85), and strong entrepreneurs (n = 45). There are substantial differences between the three groups according to the adaptation of the business model, the perceived impact of COVID-19, and the returns analyzed. Strong entrepreneurs have considerably higher levels of business model adaptation, economic performance, social performance, and perceived service quality than non-entrepreneurs. Theoretical and practical implications have been drawn that can bring new information to the sports and organizational sector. For example, the diagnosis of the different profiles according to the level of entrepreneurship can be useful to propose strategies to improve performance. In this way, it can help to evaluate the return on the investment made by sponsors or governments in the organization.

Influence of Entrepreneurial Orientation on Venture Capitalists' Initial Trust

The effectiveness of trust has been extensively investigated in entrepreneurship studies. However, compared to the outcomes of trust, we still lack knowledge about the mechanisms underlying venture capitalists' initial trust in entrepreneurs. Drawing from signal theory and impression management theory, this study explores an impression management motivational explanation for the influencing factors of venture capitalists' initial trust. An empirical test is based on 202 valid questionnaires from venture capitalists, and the results indicate that the signal of five dimensions of entrepreneurial orientation has a significant impact on the initial trust of venture capitalists and that a signal of entrepreneurial orientation of perseverance or passion positively influences venture capitalists' initial trust through acquired impression management strategies, while a signal of entrepreneurial orientation of risk-taking, innovation, or proactivity positively affects the initial trust of venture capitalists through defensive impression management strategies. The perceptions of entrepreneurs' hypocrisy by venture capitalists negatively moderate the relationship between acquired impression management strategies and the initial trust of venture capitalists and negatively moderate the relationship between defensive impression management strategies and the initial trust of venture capitalists.

We survived this! What managers could learn from SMEs who successfully navigated the Greek economic crisis

Small and medium size enterprises in both business to business and consumer markets are particularly vulnerable to economic downturns. Concentrating on the Greek economic crisis, one of the toughest and most prolonged on a global scale, the present research sheds light on both anthropocentric and business-centric factors that helped SMEs survive, therefore, providing a valuable survival manual. Per findings of two studies performed under the given economically intense conditions, it is evidenced that the right answer to survival rests upon: (a) the entrepreneurs' personality traits and skills that affect the market and entrepreneurial orientations of SMEs, (b) the adoption of such orientations that keep impacting the firms' performance, and finally (c) the implementation of strategy relevant to reaching higher quality standards for products and services, combined with tactics relevant to downsizing, marketing actions, extroversion, and financial management.

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Entrepreneurs' traits influence SMEs' EO and MO, which then impact performance.

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The main strategy of SMEs that survived was the one of improving product quality.

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In crisis, survival tactics include: downsize, marketing actions, extroversion, financial management.

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The study applied the novel and robust analytical approach of the Bayesian SEM.

Assessment of Entrepreneurial Orientation in Vocational Training Students: Development of a New Scale and Relationships With Self-Efficacy and Personal Initiative

Having emerged as an important concept in the organizational field, entrepreneurial orientation has also become a key idea in the context of education. Indeed, entrepreneurial education is now one of the common objectives for education and training systems in the European Union. Despite its importance, however, there is a scarcity of valid and reliable measures for assessing entrepreneurial orientation in students. The present study aimed to address this by developing and examining the psychometric properties of the Entrepreneurial Orientation Scale (EOS). A second objective is to study the relationships between entrepreneurial orientation and gender, self-efficacy, and personal initiative. The sample comprised 411 vocational training students (50.36% male, 49.64% female). The final version of the instrument comprised 32 items assessing six dimensions: innovativeness, risk-taking, proactiveness, competitiveness, achievement orientation, and learning orientation. The EOS showed good psychometric properties and its dimensions demonstrated concurrent relationships with self-efficacy and personal initiative. The EOS may be used to measure entrepreneurial orientation in the educational context and to evaluate interventions designed to promote an entrepreneurial spirit in schools, colleges, and universities.

Entrepreneurial Orientation Scale: Adaptation to Spanish

Entrepreneurship is linked to the perception of opportunities, to orientation, to attitudes, to the fear of failure and to entrepreneurial motivations. Entrepreneurial orientation is a fundamental construct for understanding the phenomenon of entrepreneurship. What is more, it is multidimensional and has attracted considerable attention from researchers in recent years. The objective of this study was to adapt the original 12-item English scale to Spanish and to analyze its psychometric properties. The participants in the present study were 925 Spanish employees (48.2% men, 51.5% women, M age = 42.49 years, SD age = 11.25) from the Autonomous Communities of Catalonia and Castilla-León. After applying an ESEM (RMSEA = .06; CFI = .97 and TLI = .95) a structure was determined made up of four factors which corroborated the structure of the original scale: Autonomy (α = .71 and CI = .68 - .73), Innovativeness (α = .70 and CI = .67 - .73), Risk Taking (α = .72 and CI = .68 - .74) and Competitive Aggressiveness (α = .70 and CI = .67 - .73). The four factors displayed suitable reliability. The study also found evidences of validity in relation to a series of external correlates and various scales which refer to workaholism, irritation and burnout. The scale presented here may prove useful for satisfactorily identifying, in Spanish, the entrepreneurial orientation of the working population.