SlideShare une entreprise Scribd logo
1  sur  20
Télécharger pour lire hors ligne
BUSINESS IDEA SOURCES AND
ENTREPRENEURSHIP:
AN INSTITUTIONAL VIEW
Chuck Eesley (Stanford)
Xiao Hu (Tsinghua University)
Delin Yang (Tsinghua University)
Motivation
• Prior work shows that venture performance is shaped
by characteristics of:
– The founding team (Beckman, Burton, etc.)
– Growth Market (Eisenhardt and Schoonhoven, 1990)
– Technology (Shane)
– User-driven innovation (von Hippel, Sonali Shah, etc.)
• Gap: Prior work has rarely examined whether the
source of the startup idea exerts an influence on
performance
– Entrepreneurial Ideation and Organizational Performance:
Imprinting Effects (Eesley, Hsu, and Roberts, WP)
Policy-driven business idea source
• Government context from policies - contacting
with government (communicating with related
government officials) and following the policy
change closely.
– For example, entrepreneurs might start new
ventures based on property policy reform (Walder,
1999)
• Market-driven business idea source indicates
that entrepreneurs choose to obtain their
business ideas from market opportunities by
contacting other market participants
(suppliers, customers, competitors).
– When an entrepreneur chooses to obtain his
business idea from market-driven source, he has
many ways to identify better (new) potential
markets or better (new) ways to serve target
markets (Johne, 1999)
Hypothesis 1.
• In the transitional institutional environment
with high level of dynamics, entrepreneurs
who choose to obtain their business idea from
policy-driven source will create better
performing firms.
Hypothesis 2.
• In the stable institutional environment with
low dynamics and uncertainty, entrepreneurs
who choose to obtain their business idea from
market-driven source will create better
performing firms.
Hypothesis 3:
• Entrepreneurs who choose to obtain their
business idea from both policy-driven and
market-driven source will create better
performing firms.
Research Context: China
• transitional institutional from 1988 to 1999,
• stable institutional environment from 2000 to
2002,
• transitional institutional environment from
2003 to 2009,
9
Tsinghua Survey
Unique data on firm origins, early
composition and multiple stages
of performance measures
• Alumni: ~26,700 mailed; 3,000
surveys, 11% response rate
–General biographic
information, education and career
histories, family background,
attitudes toward
entrepreneurship.
–718 individuals (24%) indicated
founding at least one company
• Additional questions for self-identified
entrepreneurs:
–Company origins, structure, and
performance.
• Advantages: Defined‘at risk’ set, first
abroad, detailed work history and founding
data, less biased by govt. concerns
Charles Zhang, founder
and CEO of Sohu.com
Business idea sources
Industries
11
INDUSTRY NUMBER OF FIRMS %
AEROSPACE 3 0.90
ARCHITECTURE 13 3.88
BIOTECH AND DRUGS 7 1.09
CHEMICALS 8 2.39
CONSUMER
PRODUCTS 17 5.07
ELECTRIC 12 3.58
ELECTRONICS 69 20.60
ENERGY 14 4.18
FINANCE 10 2.99
INTERNET 33 9.85
LAW, ACCOUNTING 22 6.57
MACHINERY 19 5.67
MANAGEMENT 21 6.27
MATERIALS 13 3.88
MED DEVICES 4 1.19
OTHER MFG 16 4.78
PUBLISHING 11 3.28
SOFTWARE 34 10.15
TELECOM 9 2.69
TOTAL 335 100
Sample
• Population:
– 62.5% in engineering
11.9% in sciences
– 12.9% in humanities
(architecture, medicine
and law comprise the
remainder)
– 25-30% women19.2%
doctorate degrees
– 53.4% graduate degrees
• Tsinghua survey sample:
– 62.2% engineering
– 10.6% sciences13.7%
humanities
– 28% women
– 19.3% doctorate degrees
– 53.9% graduate degrees
DV: ln(Revenue). We measured entrepreneurial performance as
the natural logarithm of revenue in the most recent fiscal year for
the entrepreneur’s firm.
IVs:
• Policy-driven Source measures, on a scale of 1 to 8, the degree
to which entrepreneurs believed that the government’s policy
was an important idea source for their ventures.
• Market-driven Source, as the measure of the extent that an
entrepreneur’s idea source depended on new market
opportunities at that time.
• Market-driven Source measures, on a scale of 1 to 8, the
degree to which entrepreneurs believed that market
opportunities were an important idea source for their ventures.13
Context - interviews
How are Tsinghua’s Entrepreneurs
Born?
The entrepreneurs surveyed reported that their initial business ideas came from:
Class at
Tsinghua
Research at
Tsinghua
(internal
funding)
Research at
Tsinghua
(outside
funding)
Thesis at
Tsinghua
Discussion with
Tsinghua
classmates or
teachers
A visiting
lecturer at
Tsinghua
14.6% 4.1% 4.8% 9.9% 27.4% 12.1%
An internship
while at
Tsinghua
Reading
professional
literature at
Tsinghua
Industry
experience
Army or
government
experience
An academic
conference
Discussion with
fellow
professionals
12.1% 11.1% 61.8% 7.3% 11.1% 43.9%
14
Where did the primary idea for the start-up come from?
Idea sources MIT Data Tsinghua data
percentage percentage
In school-doing outside-funded research 2.40 1.66
In school- graduate thesis 4.64 3.96
In school- in class 1.98 5.88
In school-informal discussion w/ students 3.41 11.00
In school-other research 2.28 1.92
In school-professional literature 1.73 4.48
In school- visiting scientists, engineers 1.77 4.86
In school-working w/ outside company 3.20 4.86
Other sources-discussions in
social/professional conferences
21.54 17.65
Other sources-research conference 2.66 4.48
Other sources-working in the industry 41.44 24.81
Other sources- working in the military
(government experience)
4.01 2.94
Doing outside-funded research 2.07 0.77
Total 100 100
Number of observations 1284 110
Variable ln(Revenue)
(1-4)
88-99
(2-3)
00-02
(3-4)
03-07
Policy-driven Source 0.752** 0.118 0.374***
(3.91) (0.90) (3.79)
Market-driven Source 0.0233 0.379** 0.0261
(0.14) (2.98) (0.29)
Interaction between
Sources
-0.00328 -0.0432 -0.0341
(-0.05) (-0.69) (-0.87)
Controls
Age 0.00179 -0.0252 0.00183
(0.02) (-0.37) (0.05)
Gender -0.372 0 -0.737
(-0.28) (.) (-0.75)
Overseas 1.087 0.799 -0.0856
(0.90) (1.35) (-0.19)
Length of Work -0.0198 0.0329 0.0146
(-0.28) (0.55) (0.37)
Position Diversity 0.600 -0.115 -0.149
(1.42) (-0.59) (-1.01)
Market Experience 0.698 -0.340 0.402*
(1.84) (-1.59) (2.26)
Entrepreneur Ties -0.570* 0.109 0.0473
(-2.41) (0.70) (0.37)
Communist Party -0.928 -0.0672 0.153
(-1.02) (-0.14) (0.38)
Parent Official 0.378 -0.223 0.0163
(0.93) (-1.02) (0.08)
Work for Government -0.0460 -0.552** -0.362*
(-0.07) (-2.99) (-2.06)
Government Tie 0.361 0.483* 0.0227
Variable In(Revenue) In(Revenue)
(4-3) (4-4)
Policy-driven Source 0.365*** 0.367***
(5.06) (5.11)
Market-driven Source 0.0814 0.0864
(1.22) (1.30)
Interaction between Sources -0.0390
(-1.43)
Control
Age -0.00680 -0.00450
(-0.23) (-0.15)
Gender -0.821 -0.883
(-1.12) (-1.20)
Overseas 0.509 0.536
(1.55) (1.63)
Length of Work -0.00251 -0.00466
(-0.09) (-0.16)
Position Diversity -0.0558 -0.0422
(-0.51) (-0.39)
Market Experience 0.232 0.221
(1.84) (1.75)
Entrepreneur Ties -0.0936 -0.100
(-1.04) (-1.11)
Communist Party -0.0788 -0.0815
(-0.27) (-0.28)
Parent Official 0.148 0.132
(1.08) (0.97)
Work for Government -0.439*** -0.438***
(-3.51) (-3.50)
Government Ties 0.128 0.120
(1.19) (1.13)
Contributions
• Ideas for customers/users may not always be
the best
• Source of the idea appears to play an
important role in venture quality – deserving
of greater attention in future research
• Varies with the institutional environment
Business idea sources
Business idea sources

Contenu connexe

Tendances

Differing Approaches to Industry-University Engagement
Differing Approaches to Industry-University EngagementDiffering Approaches to Industry-University Engagement
Differing Approaches to Industry-University Engagementegiegerich
 
ERC Research Showcase presentations 29.01.2018
ERC Research Showcase presentations 29.01.2018 ERC Research Showcase presentations 29.01.2018
ERC Research Showcase presentations 29.01.2018 enterpriseresearchcentre
 
Arundel - Management and service innovation in universities
Arundel - Management and service innovation in universitiesArundel - Management and service innovation in universities
Arundel - Management and service innovation in universitiesinnovationoecd
 
Charmes - Measuring innovation in the informal economy, formulating an agenda
Charmes - Measuring innovation in the informal economy, formulating an agendaCharmes - Measuring innovation in the informal economy, formulating an agenda
Charmes - Measuring innovation in the informal economy, formulating an agendainnovationoecd
 
Industry University R&D Alliance
Industry University R&D AllianceIndustry University R&D Alliance
Industry University R&D Allianceharidoss
 
Bloch - Measuring Innovation in the public sector
Bloch - Measuring Innovation in the public sectorBloch - Measuring Innovation in the public sector
Bloch - Measuring Innovation in the public sectorinnovationoecd
 
A review of innovation models
A review of innovation modelsA review of innovation models
A review of innovation modelsAli Kazmi
 
Gault - Defining and measuring innovation in all sectors of the economy
Gault - Defining and measuring innovation in all sectors of the economyGault - Defining and measuring innovation in all sectors of the economy
Gault - Defining and measuring innovation in all sectors of the economyinnovationoecd
 
Step-by-Step Guide to Academic-Industry Partnerships
Step-by-Step Guide to Academic-Industry PartnershipsStep-by-Step Guide to Academic-Industry Partnerships
Step-by-Step Guide to Academic-Industry PartnershipsJon Duke, MD, MS
 
University support for industry collaboration
University support for industry collaborationUniversity support for industry collaboration
University support for industry collaborationPeter Lancaster
 
Liz Reynolds STEX Automation 6-17-15
Liz Reynolds STEX Automation 6-17-15Liz Reynolds STEX Automation 6-17-15
Liz Reynolds STEX Automation 6-17-15MIT Startup Exchange
 
Running Successful University Industry Projects Barcamp 07
Running Successful University Industry Projects Barcamp 07Running Successful University Industry Projects Barcamp 07
Running Successful University Industry Projects Barcamp 07Tiang Cheng
 
Innovation Platforms for increasing impact of research in Mozambique & India
Innovation Platforms for increasing impact of research in Mozambique & IndiaInnovation Platforms for increasing impact of research in Mozambique & India
Innovation Platforms for increasing impact of research in Mozambique & IndiaFood_Systems_Innovation
 
The Changing Faces of Open Innovation
The Changing Faces of Open InnovationThe Changing Faces of Open Innovation
The Changing Faces of Open InnovationDavid Teece
 

Tendances (19)

Differing Approaches to Industry-University Engagement
Differing Approaches to Industry-University EngagementDiffering Approaches to Industry-University Engagement
Differing Approaches to Industry-University Engagement
 
Small Talks Chuck
Small Talks ChuckSmall Talks Chuck
Small Talks Chuck
 
ERC Research Showcase presentations 29.01.2018
ERC Research Showcase presentations 29.01.2018 ERC Research Showcase presentations 29.01.2018
ERC Research Showcase presentations 29.01.2018
 
Arundel - Management and service innovation in universities
Arundel - Management and service innovation in universitiesArundel - Management and service innovation in universities
Arundel - Management and service innovation in universities
 
Charmes - Measuring innovation in the informal economy, formulating an agenda
Charmes - Measuring innovation in the informal economy, formulating an agendaCharmes - Measuring innovation in the informal economy, formulating an agenda
Charmes - Measuring innovation in the informal economy, formulating an agenda
 
Industry University R&D Alliance
Industry University R&D AllianceIndustry University R&D Alliance
Industry University R&D Alliance
 
Project 9 diffusion in supply chains
Project 9   diffusion in supply chainsProject 9   diffusion in supply chains
Project 9 diffusion in supply chains
 
Bloch - Measuring Innovation in the public sector
Bloch - Measuring Innovation in the public sectorBloch - Measuring Innovation in the public sector
Bloch - Measuring Innovation in the public sector
 
A review of innovation models
A review of innovation modelsA review of innovation models
A review of innovation models
 
Gault - Defining and measuring innovation in all sectors of the economy
Gault - Defining and measuring innovation in all sectors of the economyGault - Defining and measuring innovation in all sectors of the economy
Gault - Defining and measuring innovation in all sectors of the economy
 
Project 5 L and M and adoption
Project 5   L and M and adoptionProject 5   L and M and adoption
Project 5 L and M and adoption
 
Step-by-Step Guide to Academic-Industry Partnerships
Step-by-Step Guide to Academic-Industry PartnershipsStep-by-Step Guide to Academic-Industry Partnerships
Step-by-Step Guide to Academic-Industry Partnerships
 
University support for industry collaboration
University support for industry collaborationUniversity support for industry collaboration
University support for industry collaboration
 
Liz Reynolds STEX Automation 6-17-15
Liz Reynolds STEX Automation 6-17-15Liz Reynolds STEX Automation 6-17-15
Liz Reynolds STEX Automation 6-17-15
 
Project 3 Innovation in smes
Project 3  Innovation in smesProject 3  Innovation in smes
Project 3 Innovation in smes
 
Big109 v5
Big109 v5Big109 v5
Big109 v5
 
Running Successful University Industry Projects Barcamp 07
Running Successful University Industry Projects Barcamp 07Running Successful University Industry Projects Barcamp 07
Running Successful University Industry Projects Barcamp 07
 
Innovation Platforms for increasing impact of research in Mozambique & India
Innovation Platforms for increasing impact of research in Mozambique & IndiaInnovation Platforms for increasing impact of research in Mozambique & India
Innovation Platforms for increasing impact of research in Mozambique & India
 
The Changing Faces of Open Innovation
The Changing Faces of Open InnovationThe Changing Faces of Open Innovation
The Changing Faces of Open Innovation
 

En vedette

Stanford eesley miller_impact_report
Stanford eesley miller_impact_reportStanford eesley miller_impact_report
Stanford eesley miller_impact_reportChuck Eesley
 
institutional support in Entrepreneurship
institutional support in Entrepreneurshipinstitutional support in Entrepreneurship
institutional support in EntrepreneurshipSahil Kamdar
 
Sources of business ideas
Sources of business ideasSources of business ideas
Sources of business ideasPeter Sammons
 
Idea generation
Idea generationIdea generation
Idea generationNENIndia
 
How to REALLY unlock word-of-mouth
How to REALLY unlock word-of-mouthHow to REALLY unlock word-of-mouth
How to REALLY unlock word-of-mouthTara Hunt
 
You Gotta Have Personality: how to connect to today’s customer with video
You Gotta Have Personality: how to connect to today’s customer with videoYou Gotta Have Personality: how to connect to today’s customer with video
You Gotta Have Personality: how to connect to today’s customer with videoTara Hunt
 
Soap Creative's 2017 Future Predictions
Soap Creative's 2017 Future PredictionsSoap Creative's 2017 Future Predictions
Soap Creative's 2017 Future PredictionsSoap Creative
 
Storytelling Techniques: The Art of Storytelling in a Digital Age
Storytelling Techniques: The Art of Storytelling in a Digital AgeStorytelling Techniques: The Art of Storytelling in a Digital Age
Storytelling Techniques: The Art of Storytelling in a Digital AgePerry Belcher
 
What is Content Marketing?
What is Content Marketing?What is Content Marketing?
What is Content Marketing?Perry Belcher
 
15 ideas on how to generate new ideas
15 ideas on how to generate new ideas15 ideas on how to generate new ideas
15 ideas on how to generate new ideasHarish
 
opportunity and idea generation
opportunity and idea generationopportunity and idea generation
opportunity and idea generationguptaaakansha
 
The Future of Influence - how the audience, content + media is changing how a...
The Future of Influence - how the audience, content + media is changing how a...The Future of Influence - how the audience, content + media is changing how a...
The Future of Influence - how the audience, content + media is changing how a...Tara Hunt
 
Entrepreneurship 1: Introduction, Identifying Ides & Business Opportunities
Entrepreneurship 1: Introduction, Identifying Ides & Business OpportunitiesEntrepreneurship 1: Introduction, Identifying Ides & Business Opportunities
Entrepreneurship 1: Introduction, Identifying Ides & Business OpportunitiesBernard Leong
 
How to Write a Content Marketing Plan Step-by-Step
How to Write a Content Marketing Plan Step-by-StepHow to Write a Content Marketing Plan Step-by-Step
How to Write a Content Marketing Plan Step-by-StepBuffer
 
2016 Digital predictions for marketing, tech, pop culture and everything in b...
2016 Digital predictions for marketing, tech, pop culture and everything in b...2016 Digital predictions for marketing, tech, pop culture and everything in b...
2016 Digital predictions for marketing, tech, pop culture and everything in b...Soap Creative
 

En vedette (20)

Stanford eesley miller_impact_report
Stanford eesley miller_impact_reportStanford eesley miller_impact_report
Stanford eesley miller_impact_report
 
institutional support in Entrepreneurship
institutional support in Entrepreneurshipinstitutional support in Entrepreneurship
institutional support in Entrepreneurship
 
Sources of business ideas
Sources of business ideasSources of business ideas
Sources of business ideas
 
Einfinal
EinfinalEinfinal
Einfinal
 
Idea generation
Idea generationIdea generation
Idea generation
 
How to REALLY unlock word-of-mouth
How to REALLY unlock word-of-mouthHow to REALLY unlock word-of-mouth
How to REALLY unlock word-of-mouth
 
Idea generation
Idea generationIdea generation
Idea generation
 
You Gotta Have Personality: how to connect to today’s customer with video
You Gotta Have Personality: how to connect to today’s customer with videoYou Gotta Have Personality: how to connect to today’s customer with video
You Gotta Have Personality: how to connect to today’s customer with video
 
Soap Creative's 2017 Future Predictions
Soap Creative's 2017 Future PredictionsSoap Creative's 2017 Future Predictions
Soap Creative's 2017 Future Predictions
 
Storytelling Techniques: The Art of Storytelling in a Digital Age
Storytelling Techniques: The Art of Storytelling in a Digital AgeStorytelling Techniques: The Art of Storytelling in a Digital Age
Storytelling Techniques: The Art of Storytelling in a Digital Age
 
What is Content Marketing?
What is Content Marketing?What is Content Marketing?
What is Content Marketing?
 
15 ideas on how to generate new ideas
15 ideas on how to generate new ideas15 ideas on how to generate new ideas
15 ideas on how to generate new ideas
 
Idea[1]generation.ppt
Idea[1]generation.pptIdea[1]generation.ppt
Idea[1]generation.ppt
 
opportunity and idea generation
opportunity and idea generationopportunity and idea generation
opportunity and idea generation
 
Why Presentations Matter
Why Presentations MatterWhy Presentations Matter
Why Presentations Matter
 
The Future of Influence - how the audience, content + media is changing how a...
The Future of Influence - how the audience, content + media is changing how a...The Future of Influence - how the audience, content + media is changing how a...
The Future of Influence - how the audience, content + media is changing how a...
 
Entrepreneurship 1: Introduction, Identifying Ides & Business Opportunities
Entrepreneurship 1: Introduction, Identifying Ides & Business OpportunitiesEntrepreneurship 1: Introduction, Identifying Ides & Business Opportunities
Entrepreneurship 1: Introduction, Identifying Ides & Business Opportunities
 
How to Write a Content Marketing Plan Step-by-Step
How to Write a Content Marketing Plan Step-by-StepHow to Write a Content Marketing Plan Step-by-Step
How to Write a Content Marketing Plan Step-by-Step
 
2016 Digital predictions for marketing, tech, pop culture and everything in b...
2016 Digital predictions for marketing, tech, pop culture and everything in b...2016 Digital predictions for marketing, tech, pop culture and everything in b...
2016 Digital predictions for marketing, tech, pop culture and everything in b...
 
SlideShare 101
SlideShare 101SlideShare 101
SlideShare 101
 

Similaire à Business idea sources

Interactions Academiy-Firms - Caso do México
Interactions Academiy-Firms - Caso do MéxicoInteractions Academiy-Firms - Caso do México
Interactions Academiy-Firms - Caso do MéxicoFabricio Martins
 
2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...
2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...
2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...NUI Galway
 
Esteve almirall esade business school innovation policy -
Esteve almirall esade business school   innovation policy -Esteve almirall esade business school   innovation policy -
Esteve almirall esade business school innovation policy -digitalsocialeu
 
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 2
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 22012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 2
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 2NUI Galway
 
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 1
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 12012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 1
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 1NUI Galway
 
scenarios and Foresight
scenarios and Foresightscenarios and Foresight
scenarios and ForesightIan Miles
 
Operations management
Operations managementOperations management
Operations managementParag Khatri
 
Wp.Priority Setting, Paris 29 30 Oct. 07
Wp.Priority Setting, Paris 29 30 Oct. 07Wp.Priority Setting, Paris 29 30 Oct. 07
Wp.Priority Setting, Paris 29 30 Oct. 07Wolfgang_Polt
 
Attitudinal, situational and personal characteristics as predictors of future...
Attitudinal, situational and personal characteristics as predictors of future...Attitudinal, situational and personal characteristics as predictors of future...
Attitudinal, situational and personal characteristics as predictors of future...Antonio Dottore
 
Intro to Research PT1.pdf
Intro to Research PT1.pdfIntro to Research PT1.pdf
Intro to Research PT1.pdfJKPineda1
 
Local and firm level influences on innovation performance. Jim love. ERC Unde...
Local and firm level influences on innovation performance. Jim love. ERC Unde...Local and firm level influences on innovation performance. Jim love. ERC Unde...
Local and firm level influences on innovation performance. Jim love. ERC Unde...enterpriseresearchcentre
 
Strategy for Technology Transfer and Research Results Commercialization in Un...
Strategy for Technology Transfer and Research Results Commercialization in Un...Strategy for Technology Transfer and Research Results Commercialization in Un...
Strategy for Technology Transfer and Research Results Commercialization in Un...YogeshIJTSRD
 
University-Industry Perspectives Report
University-Industry Perspectives ReportUniversity-Industry Perspectives Report
University-Industry Perspectives Reportinnovosource
 
Marina Dabic Managing University Resources
Marina Dabic   Managing University ResourcesMarina Dabic   Managing University Resources
Marina Dabic Managing University ResourcesYouth Agora
 
Market driven research
Market driven researchMarket driven research
Market driven researchMurray Hunter
 
STI Skills Development - Shantha Liyanage
STI Skills Development - Shantha LiyanageSTI Skills Development - Shantha Liyanage
STI Skills Development - Shantha LiyanageSTS FORUM 2016
 
ReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docx
ReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docxReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docx
ReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docxdebishakespeare
 

Similaire à Business idea sources (20)

Interactions Academiy-Firms - Caso do México
Interactions Academiy-Firms - Caso do MéxicoInteractions Academiy-Firms - Caso do México
Interactions Academiy-Firms - Caso do México
 
2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...
2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...
2012.06.13 Economic Growth and Academic Entrepreneurship: Lessons and Implica...
 
Esteve almirall esade business school innovation policy -
Esteve almirall esade business school   innovation policy -Esteve almirall esade business school   innovation policy -
Esteve almirall esade business school innovation policy -
 
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 2
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 22012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 2
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt Part 2
 
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 1
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 12012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 1
2012.06.12 Research on Academic Entrepreneurship: Lessons Learnt. Part 1
 
scenarios and Foresight
scenarios and Foresightscenarios and Foresight
scenarios and Foresight
 
Operations management
Operations managementOperations management
Operations management
 
Wp.Priority Setting, Paris 29 30 Oct. 07
Wp.Priority Setting, Paris 29 30 Oct. 07Wp.Priority Setting, Paris 29 30 Oct. 07
Wp.Priority Setting, Paris 29 30 Oct. 07
 
209-OECD ISSA project
209-OECD ISSA project209-OECD ISSA project
209-OECD ISSA project
 
Attitudinal, situational and personal characteristics as predictors of future...
Attitudinal, situational and personal characteristics as predictors of future...Attitudinal, situational and personal characteristics as predictors of future...
Attitudinal, situational and personal characteristics as predictors of future...
 
Workshop report
Workshop reportWorkshop report
Workshop report
 
Intro to Research PT1.pdf
Intro to Research PT1.pdfIntro to Research PT1.pdf
Intro to Research PT1.pdf
 
Local and firm level influences on innovation performance. Jim love. ERC Unde...
Local and firm level influences on innovation performance. Jim love. ERC Unde...Local and firm level influences on innovation performance. Jim love. ERC Unde...
Local and firm level influences on innovation performance. Jim love. ERC Unde...
 
Strategy for Technology Transfer and Research Results Commercialization in Un...
Strategy for Technology Transfer and Research Results Commercialization in Un...Strategy for Technology Transfer and Research Results Commercialization in Un...
Strategy for Technology Transfer and Research Results Commercialization in Un...
 
University-Industry Perspectives Report
University-Industry Perspectives ReportUniversity-Industry Perspectives Report
University-Industry Perspectives Report
 
Marina Dabic Managing University Resources
Marina Dabic   Managing University ResourcesMarina Dabic   Managing University Resources
Marina Dabic Managing University Resources
 
Market driven research
Market driven researchMarket driven research
Market driven research
 
STI Skills Development - Shantha Liyanage
STI Skills Development - Shantha LiyanageSTI Skills Development - Shantha Liyanage
STI Skills Development - Shantha Liyanage
 
ReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docx
ReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docxReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docx
ReferencesBikos, L. H., Haney, D., Edwards, R. W., North, M. A.,.docx
 
A scientific framework to measure results of research investments
A scientific framework to measure results of research investmentsA scientific framework to measure results of research investments
A scientific framework to measure results of research investments
 

Plus de Chuck Eesley

Aom early venture_evolution_eesley
Aom early venture_evolution_eesleyAom early venture_evolution_eesley
Aom early venture_evolution_eesleyChuck Eesley
 
Bps managing dissertation
Bps managing dissertationBps managing dissertation
Bps managing dissertationChuck Eesley
 
2011 08-13-bps-dissertation-workshop
2011 08-13-bps-dissertation-workshop2011 08-13-bps-dissertation-workshop
2011 08-13-bps-dissertation-workshopChuck Eesley
 
Oettl bps-managing dissertation
Oettl bps-managing dissertationOettl bps-managing dissertation
Oettl bps-managing dissertationChuck Eesley
 
Managing your dissertation committee 2011
Managing your dissertation committee 2011Managing your dissertation committee 2011
Managing your dissertation committee 2011Chuck Eesley
 
Writing the dissertation
Writing the dissertationWriting the dissertation
Writing the dissertationChuck Eesley
 
Armanios august aom
Armanios august aomArmanios august aom
Armanios august aomChuck Eesley
 
Nascent entrepreneurship & china 2012
Nascent entrepreneurship & china 2012Nascent entrepreneurship & china 2012
Nascent entrepreneurship & china 2012Chuck Eesley
 
Financial fraud in china2
Financial fraud in china2Financial fraud in china2
Financial fraud in china2Chuck Eesley
 
Aom pdw 2012 nascent entrepreneurship in china
Aom pdw 2012 nascent entrepreneurship in chinaAom pdw 2012 nascent entrepreneurship in china
Aom pdw 2012 nascent entrepreneurship in chinaChuck Eesley
 
Nascent entreprenurialship in china and beyond aom pdw 2012
Nascent entreprenurialship in china and beyond aom pdw 2012Nascent entreprenurialship in china and beyond aom pdw 2012
Nascent entreprenurialship in china and beyond aom pdw 2012Chuck Eesley
 
Eesley China Performance
Eesley China PerformanceEesley China Performance
Eesley China PerformanceChuck Eesley
 
Eesley Stanford Venture Fund
Eesley Stanford Venture FundEesley Stanford Venture Fund
Eesley Stanford Venture FundChuck Eesley
 
Eesley Comparing China US
Eesley Comparing China USEesley Comparing China US
Eesley Comparing China USChuck Eesley
 
Cutting Your Teeth
Cutting Your TeethCutting Your Teeth
Cutting Your TeethChuck Eesley
 

Plus de Chuck Eesley (20)

Aom early venture_evolution_eesley
Aom early venture_evolution_eesleyAom early venture_evolution_eesley
Aom early venture_evolution_eesley
 
UDD chile talk
UDD chile talkUDD chile talk
UDD chile talk
 
Bps managing dissertation
Bps managing dissertationBps managing dissertation
Bps managing dissertation
 
2011 08-13-bps-dissertation-workshop
2011 08-13-bps-dissertation-workshop2011 08-13-bps-dissertation-workshop
2011 08-13-bps-dissertation-workshop
 
Oettl bps-managing dissertation
Oettl bps-managing dissertationOettl bps-managing dissertation
Oettl bps-managing dissertation
 
Managing your dissertation committee 2011
Managing your dissertation committee 2011Managing your dissertation committee 2011
Managing your dissertation committee 2011
 
Getting a job
Getting a jobGetting a job
Getting a job
 
03 aom bps
03 aom bps03 aom bps
03 aom bps
 
Aom pdw
Aom pdwAom pdw
Aom pdw
 
Writing the dissertation
Writing the dissertationWriting the dissertation
Writing the dissertation
 
Armanios august aom
Armanios august aomArmanios august aom
Armanios august aom
 
Nascent entrepreneurship & china 2012
Nascent entrepreneurship & china 2012Nascent entrepreneurship & china 2012
Nascent entrepreneurship & china 2012
 
Financial fraud in china2
Financial fraud in china2Financial fraud in china2
Financial fraud in china2
 
Aom pdw 2012 nascent entrepreneurship in china
Aom pdw 2012 nascent entrepreneurship in chinaAom pdw 2012 nascent entrepreneurship in china
Aom pdw 2012 nascent entrepreneurship in china
 
Nascent entreprenurialship in china and beyond aom pdw 2012
Nascent entreprenurialship in china and beyond aom pdw 2012Nascent entreprenurialship in china and beyond aom pdw 2012
Nascent entreprenurialship in china and beyond aom pdw 2012
 
Mit eship show
Mit eship showMit eship show
Mit eship show
 
Eesley China Performance
Eesley China PerformanceEesley China Performance
Eesley China Performance
 
Eesley Stanford Venture Fund
Eesley Stanford Venture FundEesley Stanford Venture Fund
Eesley Stanford Venture Fund
 
Eesley Comparing China US
Eesley Comparing China USEesley Comparing China US
Eesley Comparing China US
 
Cutting Your Teeth
Cutting Your TeethCutting Your Teeth
Cutting Your Teeth
 

Dernier

How To Get Rich With Bitcoin Even If You Have No Clue About Technology
How To Get Rich With Bitcoin Even If You Have No Clue About TechnologyHow To Get Rich With Bitcoin Even If You Have No Clue About Technology
How To Get Rich With Bitcoin Even If You Have No Clue About Technologyzaidashadali00
 
HDPE Pipe Fittings Manufacturer and Supplier
HDPE Pipe Fittings Manufacturer and SupplierHDPE Pipe Fittings Manufacturer and Supplier
HDPE Pipe Fittings Manufacturer and SupplierBhavin Kanani
 
Institutions Supporting Small Business Enterprises.pptx
Institutions Supporting Small Business Enterprises.pptxInstitutions Supporting Small Business Enterprises.pptx
Institutions Supporting Small Business Enterprises.pptxshrinivas kulkarni
 
Preventing Timesheet Fraud Strategies for Ensuring Accuracy and Compliance
Preventing Timesheet Fraud Strategies for Ensuring Accuracy and CompliancePreventing Timesheet Fraud Strategies for Ensuring Accuracy and Compliance
Preventing Timesheet Fraud Strategies for Ensuring Accuracy and ComplianceManagry
 
Expense Management Maximizing Efficiency for Business Success
Expense Management Maximizing Efficiency for Business SuccessExpense Management Maximizing Efficiency for Business Success
Expense Management Maximizing Efficiency for Business SuccessManagry
 
How to track billable hours - a step-by-step guide
How to track billable hours - a step-by-step guideHow to track billable hours - a step-by-step guide
How to track billable hours - a step-by-step guideManagry
 
Establishing An Enterprise and Project Management.pptx
Establishing An Enterprise and Project Management.pptxEstablishing An Enterprise and Project Management.pptx
Establishing An Enterprise and Project Management.pptxshrinivas kulkarni
 
Path to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdf
Path to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdfPath to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdf
Path to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdfContent Strategy Inc.
 
What is the Best Way to Track Employee Vacation Time?
What is the Best Way to Track Employee Vacation Time?What is the Best Way to Track Employee Vacation Time?
What is the Best Way to Track Employee Vacation Time?Managry
 
Analysis Of FaarmTech | BBA | Business Plan
Analysis Of FaarmTech | BBA | Business PlanAnalysis Of FaarmTech | BBA | Business Plan
Analysis Of FaarmTech | BBA | Business Planmohsinrai101
 

Dernier (10)

How To Get Rich With Bitcoin Even If You Have No Clue About Technology
How To Get Rich With Bitcoin Even If You Have No Clue About TechnologyHow To Get Rich With Bitcoin Even If You Have No Clue About Technology
How To Get Rich With Bitcoin Even If You Have No Clue About Technology
 
HDPE Pipe Fittings Manufacturer and Supplier
HDPE Pipe Fittings Manufacturer and SupplierHDPE Pipe Fittings Manufacturer and Supplier
HDPE Pipe Fittings Manufacturer and Supplier
 
Institutions Supporting Small Business Enterprises.pptx
Institutions Supporting Small Business Enterprises.pptxInstitutions Supporting Small Business Enterprises.pptx
Institutions Supporting Small Business Enterprises.pptx
 
Preventing Timesheet Fraud Strategies for Ensuring Accuracy and Compliance
Preventing Timesheet Fraud Strategies for Ensuring Accuracy and CompliancePreventing Timesheet Fraud Strategies for Ensuring Accuracy and Compliance
Preventing Timesheet Fraud Strategies for Ensuring Accuracy and Compliance
 
Expense Management Maximizing Efficiency for Business Success
Expense Management Maximizing Efficiency for Business SuccessExpense Management Maximizing Efficiency for Business Success
Expense Management Maximizing Efficiency for Business Success
 
How to track billable hours - a step-by-step guide
How to track billable hours - a step-by-step guideHow to track billable hours - a step-by-step guide
How to track billable hours - a step-by-step guide
 
Establishing An Enterprise and Project Management.pptx
Establishing An Enterprise and Project Management.pptxEstablishing An Enterprise and Project Management.pptx
Establishing An Enterprise and Project Management.pptx
 
Path to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdf
Path to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdfPath to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdf
Path to Traditional Pub - BookFest 2024 presentation - 03-23-2024.pdf
 
What is the Best Way to Track Employee Vacation Time?
What is the Best Way to Track Employee Vacation Time?What is the Best Way to Track Employee Vacation Time?
What is the Best Way to Track Employee Vacation Time?
 
Analysis Of FaarmTech | BBA | Business Plan
Analysis Of FaarmTech | BBA | Business PlanAnalysis Of FaarmTech | BBA | Business Plan
Analysis Of FaarmTech | BBA | Business Plan
 

Business idea sources

  • 1. BUSINESS IDEA SOURCES AND ENTREPRENEURSHIP: AN INSTITUTIONAL VIEW Chuck Eesley (Stanford) Xiao Hu (Tsinghua University) Delin Yang (Tsinghua University)
  • 2. Motivation • Prior work shows that venture performance is shaped by characteristics of: – The founding team (Beckman, Burton, etc.) – Growth Market (Eisenhardt and Schoonhoven, 1990) – Technology (Shane) – User-driven innovation (von Hippel, Sonali Shah, etc.) • Gap: Prior work has rarely examined whether the source of the startup idea exerts an influence on performance – Entrepreneurial Ideation and Organizational Performance: Imprinting Effects (Eesley, Hsu, and Roberts, WP)
  • 3. Policy-driven business idea source • Government context from policies - contacting with government (communicating with related government officials) and following the policy change closely. – For example, entrepreneurs might start new ventures based on property policy reform (Walder, 1999)
  • 4. • Market-driven business idea source indicates that entrepreneurs choose to obtain their business ideas from market opportunities by contacting other market participants (suppliers, customers, competitors). – When an entrepreneur chooses to obtain his business idea from market-driven source, he has many ways to identify better (new) potential markets or better (new) ways to serve target markets (Johne, 1999)
  • 5. Hypothesis 1. • In the transitional institutional environment with high level of dynamics, entrepreneurs who choose to obtain their business idea from policy-driven source will create better performing firms.
  • 6. Hypothesis 2. • In the stable institutional environment with low dynamics and uncertainty, entrepreneurs who choose to obtain their business idea from market-driven source will create better performing firms.
  • 7. Hypothesis 3: • Entrepreneurs who choose to obtain their business idea from both policy-driven and market-driven source will create better performing firms.
  • 8. Research Context: China • transitional institutional from 1988 to 1999, • stable institutional environment from 2000 to 2002, • transitional institutional environment from 2003 to 2009,
  • 9. 9 Tsinghua Survey Unique data on firm origins, early composition and multiple stages of performance measures • Alumni: ~26,700 mailed; 3,000 surveys, 11% response rate –General biographic information, education and career histories, family background, attitudes toward entrepreneurship. –718 individuals (24%) indicated founding at least one company • Additional questions for self-identified entrepreneurs: –Company origins, structure, and performance. • Advantages: Defined‘at risk’ set, first abroad, detailed work history and founding data, less biased by govt. concerns Charles Zhang, founder and CEO of Sohu.com
  • 11. Industries 11 INDUSTRY NUMBER OF FIRMS % AEROSPACE 3 0.90 ARCHITECTURE 13 3.88 BIOTECH AND DRUGS 7 1.09 CHEMICALS 8 2.39 CONSUMER PRODUCTS 17 5.07 ELECTRIC 12 3.58 ELECTRONICS 69 20.60 ENERGY 14 4.18 FINANCE 10 2.99 INTERNET 33 9.85 LAW, ACCOUNTING 22 6.57 MACHINERY 19 5.67 MANAGEMENT 21 6.27 MATERIALS 13 3.88 MED DEVICES 4 1.19 OTHER MFG 16 4.78 PUBLISHING 11 3.28 SOFTWARE 34 10.15 TELECOM 9 2.69 TOTAL 335 100
  • 12. Sample • Population: – 62.5% in engineering 11.9% in sciences – 12.9% in humanities (architecture, medicine and law comprise the remainder) – 25-30% women19.2% doctorate degrees – 53.4% graduate degrees • Tsinghua survey sample: – 62.2% engineering – 10.6% sciences13.7% humanities – 28% women – 19.3% doctorate degrees – 53.9% graduate degrees
  • 13. DV: ln(Revenue). We measured entrepreneurial performance as the natural logarithm of revenue in the most recent fiscal year for the entrepreneur’s firm. IVs: • Policy-driven Source measures, on a scale of 1 to 8, the degree to which entrepreneurs believed that the government’s policy was an important idea source for their ventures. • Market-driven Source, as the measure of the extent that an entrepreneur’s idea source depended on new market opportunities at that time. • Market-driven Source measures, on a scale of 1 to 8, the degree to which entrepreneurs believed that market opportunities were an important idea source for their ventures.13 Context - interviews
  • 14. How are Tsinghua’s Entrepreneurs Born? The entrepreneurs surveyed reported that their initial business ideas came from: Class at Tsinghua Research at Tsinghua (internal funding) Research at Tsinghua (outside funding) Thesis at Tsinghua Discussion with Tsinghua classmates or teachers A visiting lecturer at Tsinghua 14.6% 4.1% 4.8% 9.9% 27.4% 12.1% An internship while at Tsinghua Reading professional literature at Tsinghua Industry experience Army or government experience An academic conference Discussion with fellow professionals 12.1% 11.1% 61.8% 7.3% 11.1% 43.9% 14
  • 15. Where did the primary idea for the start-up come from? Idea sources MIT Data Tsinghua data percentage percentage In school-doing outside-funded research 2.40 1.66 In school- graduate thesis 4.64 3.96 In school- in class 1.98 5.88 In school-informal discussion w/ students 3.41 11.00 In school-other research 2.28 1.92 In school-professional literature 1.73 4.48 In school- visiting scientists, engineers 1.77 4.86 In school-working w/ outside company 3.20 4.86 Other sources-discussions in social/professional conferences 21.54 17.65 Other sources-research conference 2.66 4.48 Other sources-working in the industry 41.44 24.81 Other sources- working in the military (government experience) 4.01 2.94 Doing outside-funded research 2.07 0.77 Total 100 100 Number of observations 1284 110
  • 16. Variable ln(Revenue) (1-4) 88-99 (2-3) 00-02 (3-4) 03-07 Policy-driven Source 0.752** 0.118 0.374*** (3.91) (0.90) (3.79) Market-driven Source 0.0233 0.379** 0.0261 (0.14) (2.98) (0.29) Interaction between Sources -0.00328 -0.0432 -0.0341 (-0.05) (-0.69) (-0.87) Controls Age 0.00179 -0.0252 0.00183 (0.02) (-0.37) (0.05) Gender -0.372 0 -0.737 (-0.28) (.) (-0.75) Overseas 1.087 0.799 -0.0856 (0.90) (1.35) (-0.19) Length of Work -0.0198 0.0329 0.0146 (-0.28) (0.55) (0.37) Position Diversity 0.600 -0.115 -0.149 (1.42) (-0.59) (-1.01) Market Experience 0.698 -0.340 0.402* (1.84) (-1.59) (2.26) Entrepreneur Ties -0.570* 0.109 0.0473 (-2.41) (0.70) (0.37) Communist Party -0.928 -0.0672 0.153 (-1.02) (-0.14) (0.38) Parent Official 0.378 -0.223 0.0163 (0.93) (-1.02) (0.08) Work for Government -0.0460 -0.552** -0.362* (-0.07) (-2.99) (-2.06) Government Tie 0.361 0.483* 0.0227
  • 17. Variable In(Revenue) In(Revenue) (4-3) (4-4) Policy-driven Source 0.365*** 0.367*** (5.06) (5.11) Market-driven Source 0.0814 0.0864 (1.22) (1.30) Interaction between Sources -0.0390 (-1.43) Control Age -0.00680 -0.00450 (-0.23) (-0.15) Gender -0.821 -0.883 (-1.12) (-1.20) Overseas 0.509 0.536 (1.55) (1.63) Length of Work -0.00251 -0.00466 (-0.09) (-0.16) Position Diversity -0.0558 -0.0422 (-0.51) (-0.39) Market Experience 0.232 0.221 (1.84) (1.75) Entrepreneur Ties -0.0936 -0.100 (-1.04) (-1.11) Communist Party -0.0788 -0.0815 (-0.27) (-0.28) Parent Official 0.148 0.132 (1.08) (0.97) Work for Government -0.439*** -0.438*** (-3.51) (-3.50) Government Ties 0.128 0.120 (1.19) (1.13)
  • 18. Contributions • Ideas for customers/users may not always be the best • Source of the idea appears to play an important role in venture quality – deserving of greater attention in future research • Varies with the institutional environment

Notes de l'éditeur

  1. Wide range of work backgrounds, but not formally randomized. The Tsinghua Alumni Association set up interviews, specifically asked to talk with some who were not successful. Probably weighted towards more successful entrepreneurs
  2. For these numbers I took the responses divided by 319 (the number of founder + privatized responders).