Exploratory Orientation, Business Model Innovation and New Venture Growth

Zhang, Hao; Sun, Xiannian; Lyu, Chan

doi:10.3390/su10010056

Cited by 14 publications

(10 citation statements)

References 45 publications

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“…Understanding startups' growth stages is useful for investigating how VC investment can help them remain sustained and achieve higher performance. In particular, the startups develop their businesses over five stages, which require different efforts and resources depending on their specific objectives [31][32][33]. As the resources acquired from VC companies also play different roles according to each stage of development, it is essential to consider in which stage the startup is while studying VC investment.…”

Section: Background: the Five Stages Of Startup Growthmentioning

confidence: 99%

The Role of Venture Capital Investment in Startups’ Sustainable Growth and Performance: Focusing on Absorptive Capacity and Venture Capitalists’ Reputation

Jeong¹,

Kim

Son

et al. 2020

Sustainability

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This study provides evidence on how venture capital (VC) investment affects startup firms’ sustainable growth and performance. Despite the rich and abundant research on the relationship between VC investment and startup performance, there is no clear evidence about the contribution of VC investment on the performance and market value of invested firms. In order to accurately measure the impact of VC investment, this study explored how VC investment at each stage of growth affects a startup’s sustainable growth and performance. Based on signaling theory and information asymmetry, this study proposed a positive link between initial-stage VC investment and a startup’s growth and performance. Using a sample of 363 firms listed from 2000 to 2007, this study demonstrated that startups are sustained and perform better as they receive their VC investment at the initial stage. The level of potential absorptive capacity positively moderated this association, unlike realized absorptive capacity, which did not show significant moderating effects.

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Section: Background: the Five Stages Of Startup Growthmentioning

confidence: 99%

The Role of Venture Capital Investment in Startups’ Sustainable Growth and Performance: Focusing on Absorptive Capacity and Venture Capitalists’ Reputation

Jeong¹,

Kim

Son

et al. 2020

Sustainability

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show abstract

“…Past research has mainly focused on the definition of the BM [8,20,22] and BMI concepts [5,23], studying the antecedents and barriers to BMI [11,24], and internal as well as external factors of BMI success [11,20]. Previous studies also addressed BMI activities in start-up enterprises [25,26]. Furthermore, some studies investigated the impact of information technologies and digitalization on BMI [1,17,27,28].…”

Section: Introductionmentioning

confidence: 99%

Drivers and Outcomes of Business Model Innovation—Micro, Small and Medium-Sized Enterprises Perspective

et al. 2019

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Business model innovation (BMI) is one of the key activities, which has to be continuously undertaken in every enterprise to sustain competitiveness in today’s digital economy. Although the interest in business models (BM) has risen significantly since the late 1990s, little is known about BMI practices in small- and medium-sized enterprises (SMEs), representing a majority of enterprises in the European market. Our study addresses this research gap and focuses on the investigation of drivers and outcomes of BMI in SMEs. A partial least squares path modeling (PLS-PM) method was used to empirically test the model using data collected in 2017 from 71 SMEs in Slovenia. Results have shown that the innovativeness of enterprises and their business environment has a positive impact on the level of BMI activities in the enterprises. However, this is not the case of fast developing and rapidly changing information technology. In addition, the results show that the level of BMI has a positive impact on BMI outcomes and further on overall business performance. The results contribute to the body of knowledge in the field of BMI activities in SMEs and offer useful insights to SMEs that intend to innovate their business model(s) and government to create a supportive environment.

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“…Often based on an endogenous perspective, traditional entrepreneurship literature on new venture growth has explored the effects of new ventures' traits, such as entrepreneurs' characteristics [19,23], firm resources [18,24], strategy [25], organizational structures and systems [26], open innovation projects [27], business model innovation [28], and entrepreneurial networks [6,7]. Some studies have also investigated the external driving forces of new venture growth, such as geographic location [20], institutional environment [29], sustainable venture capital [30], and industry context [31].…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Entrepreneurial Business Ties and New Venture Growth: The Mediating Role of Resource Acquiring, Bundling and Leveraging

Wang

Jiang

2019

Sustainability

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Adopting insights from a resource management perspective, this study investigates how entrepreneurs utilize their business ties to promote new venture growth. We propose a multiple mediator model in which different resource management processes (i.e., resource acquiring, resource bundling, and resource leveraging) act as critical mediating mechanisms. We undertook a two-stage survey design, and collected data during the period from 2013 to 2016. Drawing on a longitudinal sample of 229 new ventures in China, we tested the hypotheses through the optimal scaling regression (OSR) analysis. We find empirical support for the mediated effects of entrepreneurial business ties via resource bundling and resource leveraging to promote new venture growth. However, our results find the mediating effect of resource acquiring non-significant. These findings will deepen understanding of the role of entrepreneurial business ties in the new venture growth process and expand resource management perspective into the entrepreneurial field.

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Exploratory Orientation, Business Model Innovation and New Venture Growth

Cited by 14 publications

References 45 publications

The Role of Venture Capital Investment in Startups’ Sustainable Growth and Performance: Focusing on Absorptive Capacity and Venture Capitalists’ Reputation

The Role of Venture Capital Investment in Startups’ Sustainable Growth and Performance: Focusing on Absorptive Capacity and Venture Capitalists’ Reputation

Drivers and Outcomes of Business Model Innovation—Micro, Small and Medium-Sized Enterprises Perspective

Entrepreneurial Business Ties and New Venture Growth: The Mediating Role of Resource Acquiring, Bundling and Leveraging

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