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Does equity crowdfunding benefit ventures located in high unemployment regions? Small Bus. Econ. (IF 7.096) Pub Date : 2024-03-14
Abstract This study investigates whether equity crowdfunding is beneficial for ventures located in high unemployment regions. Employing data from 1172 initial offerings conducted in the UK market, the findings of this study reveal that these ventures exhibit superior campaign outcomes. Their offerings are more likely to reach the target and get oversubscribed. They also enjoy a higher number of investors
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Are family firms green? Small Bus. Econ. (IF 7.096) Pub Date : 2024-03-14 Ivan Miroshnychenko, Danny Miller, Alfredo De Massis, Isabelle Le Breton-Miller
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The psychological strain of becoming self-employed: a longitudinal investigation of honeymoon-hangover effects Small Bus. Econ. (IF 7.096) Pub Date : 2024-03-09 Jingjing Qu, Jun Li, Yannis Georgellis
Using British longitudinal data, we re-examine the honeymoon-hangover hypothesis (Boswell et al., 2005) for the psychological strain (measured by anxiety and depression) employees experience when they become self-employed. Most previous studies explore self-employment honeymoon-hangover effects mostly for job or life satisfaction. Employing the entropy balancing approach, we find that employees who
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Local banking development and SME conservative financing policy. Does bank branch density matter? Small Bus. Econ. (IF 7.096) Pub Date : 2024-03-06 Paulo Miguel Gama, Fátima Sol Murta, Elisabete S. Vieira
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Missing links of knowledge spillover effects on firm intensity and regional development Small Bus. Econ. (IF 7.096) Pub Date : 2024-03-06 Gustavo Barboza
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HGX: the anatomy of high growth exporters Small Bus. Econ. (IF 7.096) Pub Date : 2024-03-01 Stjepan Srhoj, Alex Coad, Janette Walde
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Re-entrepreneurial experience and learning during challenging times Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-29 Jorge Espinoza-Benavides, Maribel Guerrero
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The two faces of hierarchy: CEO power and TMT learning diversity in technology venture innovation Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-29
Abstract The relationship between top management team (TMT) members’ learning behavior and the innovation strategy of technology ventures remains unclear, especially when complicated by social hierarchies within the team. We draw on organizational learning theory to theorize that diversity in TMT members’ learning behavior has both positive and negative latent effects that produce an inverted U-shaped
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Cultural diversity and innovative entrepreneurship Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-28 Paula Prenzel, Niels Bosma, Veronique Schutjens, Erik Stam
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Embracing the “fail fast and learn fast” mindset: conceptualizing learning from failure in knowledge-intensive SMEs Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-27 Nikolina Koporcic, David Sjödin, Marko Kohtamäki, Vinit Parida
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Learning from success and failure: implications for entrepreneurs, SMEs, and policy Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-26 Esteban Lafuente, Rodrigo Rabetino, Juan Carlos Leiva
Despite the valuable contributions of earlier learning studies, the specific analysis of how entrepreneurs and small- and medium-sized enterprises (SMEs) learn has been sidelined in the literature. Significant research opportunities remain open in various unexplored realms. By adopting a multidisciplinary perspective that combines a variety of frameworks (i.e., organizational, economic, and innovation
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Decentralized finance (DeFi) markets for startups: search frictions, intermediation, and the efficiency of the ICO market Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-23 Paul P. Momtaz
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University technology transfer: leveraging experiential learning and TTO’s resources Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-22 Jose M. Sallan, Oriol Lordan
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What is Your Reference Point? How Price Volatility and Organizational Context Affect the Reference Points of Family and Nonfamily Managers Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-22 Evelyn Stommel, Nicole Gottschalck, Andreas Hack, Kimberly A. Eddleston, Franz Kellermanns, Nils Kraiczy
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Do exploration and exploitation in university research drive early-stage equity financing of university spin-offs? Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-20
Abstract An emerging theme in the entrepreneurial university (EU) literature is how universities should evolve to best reconcile their different missions, particularly research and commercialization, which often require different sets of resources. This tension is evident in the development of university spin-offs (USOs). In particular, the EU literature has generally overlooked how characteristics
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Learning from failure: do narcissists learn? Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-19 Ahmed Sewaid, Florina Silaghi, Miguel García-Cestona
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Staged financing of newly public firms around the world Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-19
Abstract We investigate the prevalence of capital staging (sequential infusion of capital) in the IPO markets in 47 countries between 1991 and 2019. Our evidence is consistent with the hypothesis that investors provide funds to IPOs in stages to mitigate costs associated with firm-specific uncertainty about future prospects and information asymmetry. Going public firms with more intangible assets and
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Is Nonprofit Entrepreneurship Unique? Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-19 Farzana Chowdhury, David B. Audretsch
While private entrepreneurial activity has been at the core of entrepreneurship, nonprofit ventures still need to be explored in the literature. Using norm-activation theory (NAT) and resource-based view (RBV) lenses, we explore the antecedents of undertaking nonprofit entrepreneurial activity. By examining 8544 entrepreneurs’ decisions about the type of entrepreneurship to engage in, we find that
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How Do Family Founders Help Novice Entrepreneurs to Develop their Firms? Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-19 Bing Song, Armin Schwienbacher
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The forgetting curve in entrepreneurship: decaying learning benefits of past entrepreneurial experience Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-19 Yancy Vaillant, Ronald Mora-Esquivel, Marco Alvarado
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Long-term orientation, family-intensive governance arrangements, and firm performance: an institutional economics perspective Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-17 Michele Pinelli, Francesco Debellis, Alfredo De Massis
In this study, we examine the effect of cultural long-term orientation on the likelihood of adopting more family-intensive governance arrangements (FGAs) and the impact on firm performance. FGAs may impose various costs on the firm, including the extraction of private benefits, conflicts with professional managers, paternalistic human resource management practices, and lower legitimacy. Drawing on
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Learning from different types of failure: evidence from non-severe and severe work accidents in SMEs Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-17 Esteban Lafuente
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What gets published and what doesn’t? Exploring optimal distinctiveness and diverse expectations in entrepreneurship articles Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-17 Marie Madeleine Meurer, Maksim Belitski, Christian Fisch, Roy Thurik
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The role of experience and diversity on research consortia’ performance: an exploratory approach Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-17
Abstract In the realm of academic engagement, this study directs its focus toward a policy instrument that has received surprisingly scant attention within the literature, despite its substantial investment: European Union-funded research projects. These projects are designed to foster collaboration and establish a framework that supports and fortifies the creation and dissemination of exceptional
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Technology sourcing ambidexterity in corporate venture capital: limitations of learning from open innovation Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-13 Sergey Alexander Anokhin, Manuel Hess, Joakim Wincent
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Fostering SME survival through insolvency proceedings: a legitimacy perspective on retrenchment, age, and firm-specific distress Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-10 Rachid Achbah, Marc Fréchet
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When do firms learn? Learning before versus after exporting Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-10 Ferran Vendrell-Herrero, Emanuel Gomes, Christian K. Darko, David W. Lehman
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New insights on economic theories of the family firm Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-10 James J. Chrisman, Hanqing (Chevy) Fang, Silvio Vismara, Zhenyu Wu
Research attention to family firms has significantly increased in recent years, with a growing application of economic theories such as agency theory and resource-based theory to explain differences between family firms and nonfamily firms and heterogeneity among family firm populations. Despite this progress, the formulation of an economic theory of family business remains notably absent. Merely applying
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Imprinting parental signals: a key driver of network status for new spinoff firms Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-09 Forough Zarea, J. Henri Burgers, Martin Obschonka, Per Davidsson
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A Quantum view of entrepreneurial opportunity: moving beyond the Discovery and Creation views Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-08
Abstract This article sheds new light on the debate between the Discovery and Creation views of entrepreneurial opportunity by drawing on quantum theory. We develop the Quantum view of opportunity, which explains how opportunity is both discovered and created. The Quantum view holds that the ontology and epistemology of opportunity are fundamentally inseparable, which explains why opportunity can never
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From modesty to market: shareholder reactions to humility rhetoric in family and nonfamily firms under media scrutiny Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-05 Paul Sanchez, Robert J. Pidduck, Duygu Phillips, Joshua J. Daspit, Daniel T. Holt
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Unveiling the role of entrepreneurial teams in the equity crowdfunding journey Small Bus. Econ. (IF 7.096) Pub Date : 2024-02-01
Abstract Despite the rapid spread of equity crowdfunding, the role and actions played by entrepreneurial teams in this context have been neglected; the few studies in this field adopted a static view and focused primarily on their signaling role in equity crowdfunding campaigns, compared to solo founders. This study adopts a dynamic view and extends current literature by exploring the underlying dynamics
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Franchise ownership types and noneconomic performance among quick service restaurants: do family operated franchises receive fewer health code violations? Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-30 Erik Markin, Chelsea Sherlock, R. Gabrielle Swab, Benjamin D. McLarty
Using an agency theory perspective combined with arguments related to the importance of socioemotional wealth (SEW), we evaluate the distinctions among family-, lone-founder-, and corporate-owned and operated restaurants regarding their impact on relevant noneconomic goals in the franchising context (i.e., health code violations). Because of agency issues and family-centric long-term motivations (e
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Entrepreneurial governance and the nature of the entrepreneurial firm Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-30 Anna Grandori
Everyone uses—but no one defines—the term “entrepreneurial firm.” Nobel laureate Oliver Williamson described the entrepreneurial firm as “a special challenge” to the theory of the firm. Organization scholars struggle with the “evergreen problem” of whether “entrepreneurial organizations are distinct from established organizations.” Building on a rarely used distinction in early transaction cost economics
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Quid pro quota: a cross-country study on the impacts of immigration quotas on early-stage entrepreneurship Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-26 Joshua K. Bedi, Shaomeng Jia
We study the impacts of immigration quotas and immigrant eligibility restrictions on destination countries’ early-stage entrepreneurial activity. Taking advantage of cross-country variation in immigration quotas and eligibility restrictions, we find that increases in the strictness of labor migration quotas and eligibility requirements are associated with significantly less early-stage entrepreneurship
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One more piece of the family firm debt puzzle: the influence of socioemotional wealth dimensions Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-25
Abstract The literature on debt financing in family firms is still inconclusive. Initial studies have usually focused on the influence of family involvement on firm’s debt levels by using the explanations of traditional economic theories. More recent studies have begun to focus on the role of family goals in family firm debt levels, particularly drawing on socioemotional wealth (SEW), which has helped
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Financing A Free-for-All: Crowdfunding Open-Source Software Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-25 James Bort, Azzurra Meoli, David W. Sullivan
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What do we know about the choices of entrepreneurs before the equity crowdfunding campaign? Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-23 Sandra Correia, Miguel Sousa, Elísio Brandão
This literature survey focuses on the pre-investment phase of equity crowdfunding, encompassing three key areas: (i) a comparative analysis of equity crowdfunding (ECF) in relation to traditional sources of entrepreneurial funding, such as venture capital and business angels; (ii) a discussion on why and when entrepreneurs prefer ECF; and (iii) an in-depth examination of the diverse models of ECF platforms
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Not seeing the forest for the trees? A systems approach to the entrepreneurial university Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-23
Abstract The idea and practice of the entrepreneurial university has emerged in response to growing expectations of universities contributing to economic development and has, in turn, been subject to a growing body of research. However, much of the work is focused on individual activities or institutions, typically overemphasising commercialisation activities and certain types of universities. Furthermore
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Driving change in higher education: the role of dynamic capabilities in strengthening universities’ third mission Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-17
Abstract Universities play a crucial role in social, economic, and technological development. Over the last decades, higher education systems have experimented with multiple transformations due to social demands, socioeconomic paradigms, and external shakeouts. Even though teaching and research are still the core functions of universities, other activities are emerging within/beyond the universities’
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Financial and social sustainability in the European microfinance sector Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-16
Abstract This paper investigates the balance between social and financial sustainability goals in the European microfinance sector using an original dataset obtained from a survey conducted in 2016–2017 on 159 microfinance institutions (MFIs) operating in 38 European countries. Overall, our results show that MFIs that are more likely to comply with their social sustainability objectives are also doing
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Gender diversity at entrepreneurial firm IPOs: responding to changing societal norms Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-11 Martin Kenney, Donald Patton, Siri Terjesen
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The protestant ethic and entrepreneurship: inside the black box Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-09
Abstract We provide one of the first investigations of the cultural and value dimensions through which Protestantism affects entrepreneurship by focusing on the historically predetermined religious minorities residing in the regions of the former Holy Roman Empire. By exploiting the minorities’ strong attachment to religious ethic, we find that Protestantism significantly affects the probability to
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Out of the frying pan into the fire: displaced workers’ vocational skill specificity, self-employment, and income Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-08
Abstract Drawing on vocational specificity and push-based entrepreneurship literature, we ask whether the degree of vocational specificity is linked to the likelihood of displaced workers transitioning into self-employment, whether such transitions correlate with greater earnings declines, and whether self-employment in an industry distant from their pre-displacement industry exacerbates earnings declines
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Advancing sustainable entrepreneurial universities: sustainability transformations of university business incubators in Germany Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-06 Marc Karahan
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A fatigue model of social venturing Small Bus. Econ. (IF 7.096) Pub Date : 2024-01-03 Holger Patzelt, Dean A. Shepherd
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Re-viewing the entrepreneurial university: strategic challenges and theory building opportunities Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-30 Maribel Guerrero, Alain Fayolle, Maria Chiara Di Guardo, Wadid Lamine, Sarfraz Mian
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Spin-outs’ knowledge legacies and parent hostility: a competitive dynamics view Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-29
Abstract This study adopts a competitive dynamics perspective to illuminate how and when different types of knowledge transferred by a spin-out trigger parent hostility. Specifically, I propose based on the awareness-motivation-capability framework that (1) transfers of market-related and technology-related knowledge will yield hostility and that (2) market commonality, resource similarity, and competitive
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A transversal reconceptualization of entrepreneurship education: applying insights from the lean social launch framework to the entrepreneurial university Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-29 Bailey Borman, Medha Dalal, Christopher S. Hayter, Spiro Maroulis
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Role conflict, entrepreneurial identity, and academic entrepreneurship: the effects of immigration status Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-29
Abstract University scientists have been strongly encouraged by administrators to engage in academic entrepreneurship (AE), via patenting, licensing, and startup formation. AE is a key aspect of the rise of “entrepreneurial universities” as discussed by (Guerrero & Urbano, Journal of Technology Transfer, 37(1), 43–74, 2012). We examine the relationship between role conflict and scientists’ propensity
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Hybrid entrepreneurship and risk Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-27 Ignacia Benitez, Claudio A. Bonilla, Marcos Vergara
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Seeds in rocky soil: the interactive role of entrepreneurial legacy and bridging in family firms’ organizational ambidexterity Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-22 Rolf Wilmes, Leif Brändle, Andreas Kuckertz
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Re-viewing entrepreneurial universities through alumni engagement Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-20 Diamanto Politis, Lise Aaboen, Ann Elida Eide, Dag Håkon Haneberg
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On why women-owned businesses take more time to secure microloans Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-16 Goran Calic, Moren Lévesque, Anton Shevchenko
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The interaction of a size-dependent tax policy and financial frictions: evidence from a tax reform in Japan Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-08 Kaoru Hosono, Masaki Hotei, Daisuke Miyakawa
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Look in to look out: strategy and family business identity during COVID-19 Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-07 Rebecca Alguera Kleine, Bingbing Ge, Alfredo De Massis
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Divergent thinking and post-launch entrepreneurial outcomes: non-linearities and the moderating role of experience Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-07 Marco Caliendo, Daniel Rodríguez
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How do intercultural proximity and social fragmentation promote international patent cooperation? Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-07 Dinithi N. Jayasekara, Jonathan H. W. Tan
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The dynamic impact of inter-firm network agreements Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-05 Valentina Pieroni, Nicola Lattanzi, Massimo Riccaboni
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Site entrepreneurship: desolation to destination Small Bus. Econ. (IF 7.096) Pub Date : 2023-12-04 Michael G. Goldsby, Donald F. Kuratko, David B. Audretsch