Franz T. Lohrke

Slack resources and firm performance: a meta-analysis

Although organizational research posits various relationships between a firms slack resources and performance, findings to date have been ambiguous. To provide insight into this relationship, this study employed a meta-analysis based on 80 samples from 66 studies (n=54,249). Results provided evidence of a positive relationship among all three slack types (i.e., available, recoverable, and potential) and financial performance and showed that studies controlling for industry-relative performance demonstrated a stronger positive potential slack–performance relationship than those not including these controls. The analysis also found that studies employing lagged slack measures did not show a stronger positive slack–performance relationship than those employing current year measures for either recoverable or potential slack, a result counter to the one hypothesized. Overall, results highlight the importance of additional research into intervening factors impacting the slack–performance relationship.

Conjoint Analysis in Entrepreneurship Research A Review and Research Agenda

We review conjoint analysis (CA) usage in recent entrepreneurship research to assess how researchers have used the method to study entrepreneurial decision making. We first provide a brief overview of the method and present an exemplar study. We next examine how 16 studies published in leading entrepreneurship journals from 1999 to 2008 used CA, highlight topics these studies have investigated most frequently, and suggest reasons why studies, in general, have not used the method with greater frequency, despite its many advantages in studying decision making. We conclude by suggesting potential future research applications in an attempt to encourage greater CA usage in entrepreneurship research.

The Influence of Entrepreneurs' Credentials and Impression Management Behaviors on Perceptions of New Venture Legitimacy

We examine how entrepreneurs’ behaviors related to credentials and impression management (IM) impact perceptions of new venture (NV) legitimacy. Results from this experiment, as hypothesized, show that entrepreneurs’ credentials and IM behaviors are positively related to legitimacy perceptions. Contrary to expectations, however, findings do not support either interaction hypothesis when credentials are high or low. We discuss how these findings illustrate the importance of entrepreneurs’ behaviors during the NV creation process and outline multiple directions for future research.

Environmental Shocks and SME Alliance Formation Intentions in an Emerging Economy: Evidence from the Asian Financial Crisis in Indonesia

Environmental shocks can occur when emerging country governments open their markets to outside influences. We extend research conducted primarily in mature economies on how managers react to environmental shocks by evaluating how environmental shock type, a firms strategic orientation, and its slack resources affected strategic alliance formation intentions during and immediately following the Asian Financial Crisis. Results from two Indonesian small– and medium–sized enterprises (SME) samples show that these factors influenced alliance intentions, although not always in ways that were consistent with previous research findings in more mature markets. Overall, our results provide critical insights into emerging market firms’ strategic actions, particularly related to key managerial motivations for SME alliance formation.

Historical Foundations of Entrepreneurship Research

Contents: 1. History Matters in Entrepreneurship Research Franz Lohrke and Hans Landstrom PART I: HISTORICAL DEVELOPMENT OF ENTREPRENEURSHIP AS A RESEARCH FIELD 2. Entrepreneurship Research - A History of Scholarly Migration Hans Landstrom and Mats Benner 3. Entrepreneurship Research - Research Communities and Knowledge Platforms Hans Landstrom and Olle Persson PART II: INTELLECTUAL ROOTS OF ENTREPRENEURSHIP RESEARCH Opportunity Recognition 4. Environmental Uncertainty and Firm-level Entrepreneurship Lou Marino, Patrick Kreiser and Anthony Robinson 5. Entrepreneurial Alertness and Opportunity Discovery: Origins, Attributes, Critique Nicolai J. Foss and Peter G. Klein 6. Opportunity Recognition: Evolving Theoretical Perspectives Robert A. Baron 7. The Historical Roots of Entrepreneurial Orientation Research Verona P. Edmond and Johan Wiklund Opportunity Evaluation 8. On the Relevance of Decision Making in Entrepreneurial Decision Making Saras D. Sarasvathy and Henrik Berglund Opportunity Exploitation 9. Only the Good Die Young? A Review of Liability of Newness and Related New Venture Mortality Research Franz Lohrke and Brian Nagy 10. Entrepreneurial Groups Martin Ruef 11. Governance Theory: Origins and Implications for Researching Boards and Governance in Entrepreneurial Firms Jonas Gabrielsson and Morten Huse 12. The Historical Roots of Socio Network Theory in Entrepreneurship Research Sarah Jack and Mary Rose Integrative Works 13. The Psychology of Entrepreneurs: A Self-regulation Perspective Alan R. Johnson and Frederic Delmar 14. Social Entrepreneurship: A Historical Review and Research Agenda Todd Moss, Jeremy Short and Tom Lumpkin PART III: ECONOMIC HISTORY AND ENTREPRENEURSHIP 15. Historical Reasoning and the Development of Entrepreneurial Theory R. Daniel Wadhwani 16. Culture, Opportunity and Entrepreneurship in Economic History: The Case of Britain in the Twentieth Century Andrew Godley 17. Industrial Renewal and Entrepreneurship in Sweden - A Structural Cycle Explanation Hans Landstrom and Lennart Schon 18. Entrepreneurial Capitalism in East Asia: How History Matters David Ahlstrom and Linda Wang

The Internet as an Information Conduit A Transaction Cost Analysis Model of US SME Internet Use

Small- and medium-sized enterprises (SMEs) can use the internet to establish direct customer contact, thereby reducing reliance on channel intermediaries for customer support. Based on transaction cost analysis, this study examined whether SMEs facing high asset specificity in product information transmitted to and received from customers employed the internet to a greater degree than those facing lower information specificity. Results based on a survey of 42 US SMEs generally supported this relationship. Moreover, results were generally stronger for firm- than industry-level factors impacting information specificity. Overall, these findings highlight the important benefit that internet use can provide in reducing an SMEs transaction costs.

Extending Turnaround Process Research Important Lessons From the U.S. Civil War

Although research has made progress in building our understanding of effective turnaround strategies, significant gaps remain in our knowledge about the strategic processes managers can employ to formulate and implement these strategies. Using a historical case of organizational turnaround employed by the U.S. government during the U.S. Civil War, the authors generate new insights into the turnaround process while confirming some previous findings. Through the turnaround actions of President Lincoln and his administration, the U.S. (Union) forces surmounted threats to the country’s survival, turned around the war effort, and ultimately reunited the country while ending the institution of chattel slavery in the United States. The authors’ review of extant turnaround research in tandem with results from this rich case history provides the basis for reexamining existing models of the turnaround process as well as developing propositions to guide future turnaround research, particularly in the areas of crisis reaction, organizational learning, and transformational leadership.

An evaluation of key determinants preventing intra-family business succession

Purpose – The purpose of this paper is to identify the key determinants which inhibit intra-family business succession. The study also explores the effects these determinants have on preventing intra-family business succession. Finally, the study explores the probability that intra-family business succession does not take place based upon the effects of the identified determinants. Design/methodology/approach – A total of 250 surveys were mailed to family business owners across the USA, yielding 68 usable responses (27.2 percent response rate). Factor analysis was used to determine the most influential factors which inhibit intra-family business succession, and Bayesian networks were constructed to determine the probability that intra-family business succession does not occur based on these factors. Findings – The study results indicate that there are four key constructs comprised of 23 variables which have the most influence on deterring intra-family business successions. The results also suggest manager...

Extending the bargaining power model

Purpose – This paper seeks to further develop the bargaining power model of political risk management by employing a historical case study to uncover issues not presently considered in the model.Design/methodology/approach – It first examines current political risk research, primarily focusing on the bargaining power model and then reviews a historical case study to demonstrate that the model remains incomplete. Next, both the resource‐based view (RBV) of the firm and institutional theory are examined to develop propositions to guide future bargaining power research.Findings – Examining the bargaining power model by employing a historical case study of Panton, Leslie and Company, which operated in the present day Southeastern USA during its tumultuous colonization period, not only provides an interesting historical account of how one firm managed political risk, it suggests the need to modify the bargaining power model to consider both the specific resources required for differentiation and the need to ba...

Intellectual Roots of Entrepreneurship Research

This single volume includes classic works on the theoretical foundations of entrepreneurship research and provides important groundwork for future investigations. Professor LandstrA¶m and Professor Lohrke have carefully selected the seminal, currently relevant and, in many cases, difficult-to-access studies within the field, covering the entrepreneurial processes of opportunity recognition, evaluation and exploitation. Reflecting the heavily interdisciplinary nature of the research, many of the papers have a basis in the spheres of economics, social sciences and strategic management.