Cash-out or flameout! opportunity cost and entrepreneurial strategy / Ashish Arora in Management science, Vol. 57 N° 10 (Octobre 2011)  

Public ISBD [article]  inManagement science > Vol. 57 N° 10 (Octobre 2011) . - pp. 1844-1860 Titre : Cash-out or flameout! opportunity cost and entrepreneurial strategy : Theory, and evidence from the information security industry Type de document : texte imprimé Auteurs : Ashish Arora, Auteur ; Anand Nandkumar, Auteur Année de publication : 2012 Article en page(s) : pp. 1844-1860 Note générale : Management Langues : Anglais (eng) Mots-clés : Entrepreneurship Opportunity costs Performance Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : performance, we model both failure and cash-out (liquidity event) as conditioned by the same underlying process. High-opportunity-cost entrepreneurs prefer a shorter time to success, even if this also implies failing more quickly, whereas entrepreneurs with fewer outside alternatives will choose less aggressive strategies and, consequently, linger on longer. We formalize this intuition with a simple model. Using a novel data set of information security start-ups, we find that entrepreneurs with high opportunity costs are not only more likely to cash out more quickly but are also more likely to fail faster. Not only is survival a poor indicator of performance, but its use as one obscures the relationship between entrepreneurial characteristics, entrepreneurial strategies, and outcomes. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/10/1844.abstract [article] Cash-out or flameout! opportunity cost and entrepreneurial strategy : Theory, and evidence from the information security industry [texte imprimé] / Ashish Arora, Auteur ; Anand Nandkumar, Auteur . - 2012 . - pp. 1844-1860. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 10 (Octobre 2011) . - pp. 1844-1860 Mots-clés : Entrepreneurship Opportunity costs Performance Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : performance, we model both failure and cash-out (liquidity event) as conditioned by the same underlying process. High-opportunity-cost entrepreneurs prefer a shorter time to success, even if this also implies failing more quickly, whereas entrepreneurs with fewer outside alternatives will choose less aggressive strategies and, consequently, linger on longer. We formalize this intuition with a simple model. Using a novel data set of information security start-ups, we find that entrepreneurs with high opportunity costs are not only more likely to cash out more quickly but are also more likely to fail faster. Not only is survival a poor indicator of performance, but its use as one obscures the relationship between entrepreneurial characteristics, entrepreneurial strategies, and outcomes. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/10/1844.abstract

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