Ana M. Moreno

Entrepreneurial Orientation and Growth of SMEs: A Causal Model

The literature existing on entrepreneurship implicitly assumes that entrepreneurial orientation (EO) and growth orientation are positively related with each other. However, few studies, whether theoretical or empirical, analyze such relation in an explicit manner. Instead, most previous works have focused on the EO–performance relation, even though growth and profitability do not always correlate positively. This work has been carried out on a sample of 434 SMEs, and contributes two novelties with regard to previous research: (1) the analysis focuses on the EO–growth relation; and (2) it uses a flexible method (Partial Least Squares) which allows the study of several simultaneous relationships. The results reveal the complexity of the relationships between EO, strategy, environment, resources and growth.

High-growth SMEs versus non-high-growth SMEs: a discriminant analysis

The purpose of this paper is to analyse the main variables that allow one to distinguish between high-growth firms and non-high-growth firms. Theoretically, we discuss such differences through a combination of economic (external approach) and strategic (internal approach) visions. Empirically, this paper provides two differences with regard to previous literature: (1) the primary goal of our work is not to provide an outright explanation of firm growth; rather, we aim to establish what characteristics enable us to distinguish between high-growth and non-high-growth firms. This aspect determines the methodology used (discriminant analysis with dichotomic dependent variable); and (2) firm high growth is understood as an extraordinary growth in comparison with the average growth of other firms in the same industry, and not in absolute terms. The results show that in the main high-growth firms are different from moderate-growth firms or declining firms because of their smaller size (which is contrary to Gibrats Law), their higher availability of idle resources (consistent with the theory of resources and capabilities), and in some cases, their lower availability of financial resources (consistent with the existing literature on entrepreneurship).

A Configurational Approach of the Relationship Between Entrepreneurial Orientation and Growth of Family Firms

The present research aims to improve scholars’ understanding of the relationship between entrepreneurial orientation (EO) and the growth of family firms in two areas. The authors propose that the EO—growth relationship is contingent on different contextual variables—environmental dynamism and environmental hostility—and an internal variable—generational involvement. Also, they consider EO to be a composite construct integrated from and related to different independent dimensions. Using information from 317 Spanish family firms, results show that (a) EO positively influences growth only in second-generation family businesses, (b) the moderating influence of the generational involvement is related to the risk-taking dimension, and (c) dynamism and hostility of the environment, respectively, moderate the relationship between EO and growth in a positive sense.

The relationship between entrepreneurial orientation and growth: The moderating role of family involvement

Lumpkin and Dess [Lumpkin, G.T., and G.G. Dess. 1996. Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review 21, no. 1: 135–72] established the basis of their research agenda on the relationship between Entrepreneurial Orientation (EO) and company performance. A wide range of research has incorporated different moderating variables and dimensions of performance, such as profitability, growth, etc. Our work proposes the degree of family involvement comprising a moderating variable in the relationship between EO and company growth. This paper pursues to analyse the influence of family involvement on the relationship between EO and company growth. The empirical study was developed using a sample of 449 small- and medium-sized companies in Spain. The proposed hypotheses were tested using hierarchical linear regression. The results obtained reveal the influence of innovativeness and proactiveness on the growth of a company. However, when family involvement is included as a moderating variable in the equation, a new influence on growth is born from the interaction between innovativeness and family involvement and the interaction between risk-taking and family involvement.

The relationship between timing of entry into a foreign market, entry mode decision and market selection:

Companies that decide to internationalize have to respond to some basic questions, such as where and how to carry out their strategy. Classic literature regarding the internationalization process has focused on entry mode and market selection decisions. However, the recent international entrepreneurship perspective considers a new dimension: timing of entry. This new approach has opened up a new line of research, arguing that time is a dimension that must be explicitly considered in order to develop a proper understanding of the internationalization process of firms. However, very few papers have looked at all these questions from this perspective in an integrative manner. This article puts forward a proposal about the relationship that exists between the timing of entry into foreign markets, the entry mode decision, and market/country selection. Starting with a review of the variables that have traditionally been used to explain timing of entry and then looking at the different forms of internationalization, the aim of this article is to propose a link between these important questions in order to increase our understanding of a company’s internationalization process.

Luminol Chemiluminescence in Urine Analysis

Abstract The purpose of the present review is to sketch out the scope of luminol chemiluminescence in human urine analysis. Practical considerations and experimental requirements are indicated. The literature revised covers the papers of analytical interest that have appeared in approximately the last six years.

HPLC-DAD Determination of CNS-Acting Drugs in Human Blood, Plasma, and Serum

This is a review of the literature regarding high-performance liquid chromatography-diode array detection (HPLC-DAD) procedures for the detection and determination of several categories of central nervous system–acting drugs in blood, plasma, or serum samples. Psychiatric and neurological drugs, such as antidepressants, benzodiazepines, antipsychotics, antiepileptics, and antiparkinsonians, have been included because of their relevance to therapeutic drug monitoring and systematic toxicological analysis. Articles published between 2000 and January 2012 have been taken into consideration. This review has focused on methodological approaches, sample pretreatment techniques, and other practical aspects.

The relationship between growth and volatility in small firms

Purpose – The purpose of this paper is to investigate the effect of predictors of growth (entrepreneurial orientation (EO) and environmental hostility) and growth itself on small-firm volatility. The objective is to find out: first, whether growth and volatility possess a similar nature; second, what are the predictors of small-firm volatility. Design/methodology/approach – Questionnaire data were collected from CEOs of 433 Spanish small firms (<500 employees) who provided qualitative as well as quantitative information. Findings – The authors find that some of the predictors on growth can also be used to predict firm volatility. Specifically, the authors find that firm volatility is influenced by EO and environmental hostility. Growth also influences firm volatility. The authors also find a strong interaction effect of growth and firm size on firm volatility. The authors conclude that although growth and firm volatility are related concepts, they are different. Originality/value – Growth has concentrated...

Causes of Changes in Top Management

Empirical research into the causes of change in top management has been biased in favour of certain type of enterprises (big size companies which quote at stock exchange) and in favour of certain type of performance measures (financial profitability), mainly because the easiness of getting data. This study uses a sample of enterprises with very different sizes and utilises as enterprise performance indicator the variation in sales. This work pursues two objectives. On the one hand, it pursues to empirically investigate the essential determinants that provoke a change in top management. On the other hand, it pursues to specify those factors that condition the choice as enterprise top manager successor of an outside to the company individual. The results obtained question some established hypothesis in the literature. Previous researches have assumed that manager’s replacement due to no forced causes (retirement, decease, illness…) are random distributed in the population; nevertheless, the results seem to show that our hypothesis is not conform to ?he reality in certain circumstances.