Session 105

Current Research on Serial Entrepreneurs and Market Makers

Track K

Date: Wednesday, October 14, 2009


Time: 10:00 – 11:15


Room: Meeting Room5

Session Chair:
William Schulze, University of Utah

Title: Performance Differentials Between Returnee and Homegrown Entrepreneurs in China


  • Haiyang Li, Rice University
  • Yan Anthea Zhang, Rice University
  • Li-An Zhou, Peking University
  • Weiying Zhang, Peking University

Abstract: Do returnee entrepreneurs from overseas perform better than their homegrown counterparts? In this study, we draw upon the resource-based view and the institutional theory and examine how and under what conditions returnee entrepreneurs may outperform homegrown entrepreneurs in an emerging market. With a sample of Chinese technology ventures, we find that while on average new ventures headed by returnee entrepreneurs outperform those headed by homegrown entrepreneurs, the performance differentials are context specific. Our results suggest that returnee entrepreneurs are more likely to create value when they are in an institutional context that is similar to that in their host developed country in which they have developed their capabilities and skills.

Title: The Entrepreneur As Market Maker: A Focus on Consumer Value Creation and Entrepreneurial Action


  • Douglas Johansen, Jacksonville University
  • Tim R. Holcomb, Miami University

Abstract: Value creation is a central concept in the entrepreneurship literature examining entrepreneurial action. Whether conceptualized as new products or services, entry into new markets, or the creation of a new venture, consumers perceiving benefits from entrepreneurial action is essential to success. In this regard, consumers are the arbiters of value, validating the subjective benefits these actions are thought to produce. Therefore, success depends in part on consumers' perceptions of the value they will realize, which in turn affects their willingness to pay. Despite their central role, consumers have received little attention in the entrepreneurship literature. In this study, we examine entrepreneurial action pertaining to the creation of value for consumers. Specifically, we develop theory to explain the "market making" role of the entrepreneur.

Title: The Second Time Around? Repeat Entrepreneurs from MIT


  • Charles Eesley, Stanford University
  • Edward Roberts, Massachusetts Institute of Technology

Abstract: In this paper we explore the factors that condition the likelihood that an entrepreneur starts a second firm. We use data from survey responses of 1,789 entrepreneurs to examine firm founding behavior. Results indicate that “repeat” entrepreneurs differ from single-firm entrepreneurs in certain demographic and educational characteristics prior to starting a first firm. The phenomenon of graduates embarking on careers of repeat entrepreneurship appears to be growing over time. The results also show that the first firms of eventual repeat entrepreneurs differ from the first firms of single-firm only entrepreneurs. The paper indicates that those entrepreneurs with the highest probability of starting a second firm have greater time and access to financial resources to undertake a new venture.

Title: Where Do We Go From Here? Entrepreneurial Recovery and Re-Start After Failure


  • Alan Boss, University of Washington-Bothell
  • J Robert Baum, University of Maryland
  • Henry Sims, University of Maryland

Abstract: Eventually, everyone experiences failure. Entrepreneurs, especially, have a high incidence of failure, with estimates that over 60% fail within six years. Yet, a high percentage of failed entrepreneurs recover and start another business. What characteristics of entrepreneurs help them to recover from failure? Based upon fundamental theories of human behavior and recent inquiries that have influenced the entrepreneurship literature, we propose that four areas of research can lead to a path to recovery, namely, (1) entrepreneurial self-efficacy, (2) emotion regulation, (3) practical intelligence, and (4) self-leadership. We suggest that these areas of research may enhance our knowledge of how entrepreneurs recover from failure.

All Sessions in Track K...

Sun: 10:00 – 11:30
Session 254: Developing a Game Plan for Strategy Research on Social Entrepreneurship
Sun: 13:00 – 14:30
Session 253: Knowledge Spillovers and Strategic Entrepreneurship
Sun: 15:00 – 16:30
Session 252: Key Issues and Emerging Questions in Entrepreneurial Strategy Research
Sun: 16:30 – 17:30
Session 315: Entrepreneurship & Strategy, IG Meeting
Mon: 12:45 – 14:00
Session 102: Networks, Alliances and Entrepreneurship
Session 244: Entrepreneurship in Emerging and Transition Economies
Mon: 15:45 – 17:00
Session 100: Founders, Founding Conditions and Human Capital
Session 249: Examining Entrepreneurial Phenomena at Multiple Levels
Mon: 17:15 – 18:30
Session 101: Opportunities & Founders
Session 248: Issues in Governance and Technology Commercialization in New Ventures
Tue: 10:00 – 11:15
Session 107: Current Thoughts on Entrepreneurship in Emerging and Transition Economies
Session 111: Opportunties, Uncertainty & Innovation in Entrepreneurial Ventures
Tue: 11:30 – 12:45
Session 106: Current Thoughts on Signaling and Venture Capital
Tue: 14:30 – 15:45
Session 108: The Impact of Institutions, Regions and Countries on Entrepreneurial Ventures
Wed: 10:00 – 11:15
Session 105: Current Research on Serial Entrepreneurs and Market Makers
Session 112: The Impacts of Diversification on Entrepreneurial Ventures
Wed: 11:30 – 12:45
Session 104: Employees Mobility and Corporate Entrepreneurship
Session 109: Current Research on Uncertainty and Entrepreneurship

Strategic Management Society

Washington DC