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The role of intrapreneurial
experience on independent and
corporate new ventures:
evidence from Spain
Maribel Guerrero, Iñ...
Agenda
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
What we kno...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
What we kno...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
What we do ...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
From a theo...
Previous studies Frameworks
Entrepreneurial
action
(Locke 2000;
McMullen and
Shepherd 2006;
Shane et al. 2003;
Shane and
V...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
From a theo...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
Sample
Adul...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
Dependent V...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
Other Varia...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
Model I
Ind...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda
• Intrapren...
Research Motivations
Theoretical approaches
Methodology
Conclusions
Future research
Preliminary results
Agenda Our limitat...
Many thanks for
your attention!
Maribel Guerrero, Iñaki Peña
Orkestra-Basque Institute of Competitiveness. Deusto Business...
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The role of intrapreneurial experience on independent and corporate new ventures: evidence from Spain

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Transcript of "The role of intrapreneurial experience on independent and corporate new ventures: evidence from Spain"

  1. 1. The role of intrapreneurial experience on independent and corporate new ventures: evidence from Spain Maribel Guerrero, Iñaki Peña Orkestra-Basque Institute of Competitiveness. Deusto Business School.
  2. 2. Agenda Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results
  3. 3. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda What we know … (1) Entrepreneurship is important for economic growth. • Vary greatly across different types of entrepreneurship, environmental contexts and conditions (Wennekers and Thurik 1999; Westhead 1995). (2) Human capital is a key determinant of any entrepreneurial action (McMullen and Shepherd 2006; Hornsby et al. 1993; Shane et al. 2003). (3) There are some differences in human capital between entrepreneurs & intrapreneurs. Parker (2011): • entrepreneurs are characterized by a general human capital (knowledge, skills and experiences) useful for start-up creation, • intrapreneurs acquire a specific human capital from training programs, experiences and learning process within existing organizations that have an entrepreneurial focus (i.e., proactive, innovative and risk-taking oriented firms).
  4. 4. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda What we know … Corporate entrepreneurship build a strong human architecture (i.e., management support, work discretion, reward system, time availability and organizational boundaries) This fertile environments inside organizations help: • to achieve organizational objectives (i.e., innovation, renewal or venturing) and • indirectly generates a specific human capital in their employees (i.e., intrapreneurial experience). Hornsby et al. (1993, 2002,)
  5. 5. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda What we do not know … About the link between this specific human capital dimension (intrapreneurial experience) onto firm start-up (independent venturing & intra-venturing). Our Objective We attempt to fill this gap in the literature by testing the effect of individuals’ intrapreneurial experience on the number of firms created by independent entrepreneurs and intrapreneurs.
  6. 6. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda From a theoretical point of view… For one side, entrepreneurial action depends, to a large extent, on how individuals combine: (a) their motivations that vary in how they perceive the risk of expending resources before knowing the distribution of outcomes (Shane et al. 2003; Arenius and Minnitti 2005); (b) their human capital (i.e. individual education, experiences and skills), which constitutes a firm-unique intangible asset (Bates 1990; Davidsson and Honig 2003); and (c) the access to other resources such as financial and social capital, which may prompt (or hamper) the decision to start a new venture (Bosma et al. 2004). For other side, the creation of intra-ventures refers to visible entrepreneurial tendencies of a parent firm toward innovativeness, pro- activeness and risk taking (Covin and Slevin 1989; Lumpkin and Dess 1996; Miller 1983).
  7. 7. Previous studies Frameworks Entrepreneurial action (Locke 2000; McMullen and Shepherd 2006; Shane et al. 2003; Shane and Venkataraman 2000) Antecedents  Environmental  Individual Perceptions  Motivations (desirability)  Knowledge (feasibility) Entrepreneurial action  Firm creation High-Growth (Autio 2007; Autio et al. 2007; Autio and Acs 2007, 2010) Antecedents  Environmental  Individual Resources  Human capital  Social capital  Financial capital Orientation  High aspirations  Innovation  Internationalization Entrepreneurial action  Firm creation Firm Performance  High-growth Entrepreneurial Orientation (Covin and Slevin 1991; Lumpkin and Dess 1996, 2001; Miller 1983; Moreno and Casillas 2008) Moderators  Environmental  Organizational  Individual Entrepreneurial orientation  Risk taking  Innovativeness  Proactiveness  Autonomy  Competitive aggressiveness Performance  Sales growth  Market share  Profitability  Overall performance Corporate Entrepreneurship (Antoncic and Hisrich 2001; Ireland et al. 2009; Hornsby et al. 1993, 2002, 2009, forthcoming; Kuratko et al. 2005a, 2005b; Zahra 1991, 1993; Zahra and Covin 1995; Zahra and Garvis 2000) Antecedents  Environmental  Organizational  Individual Human System Architecture  Human capital  Social capital Entrepreneurial orientation  Risk taking  Innovativeness  Proactiveness Corporate Entrepreneurship  Innovations  Venturing  Renewal Performance  Growth  Profitability Intrapreneurial experiences & entrepreneurial action (proposed) Antecedents (individual, organizational, environmental) Specific human resources (intrapreneurial experience) Individual orientation (risk taking, innovativeness proactiveness) Firm creation High-Growth (innovation, internationalization and growth aspiration)
  8. 8. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda From a theoretical point of view… Hypothesis 1: Individuals with intrapreneurial experience are more likely to start up a firm than individuals who lack such experience. Hypothesis 2: Individuals with intrapreneurial experience are more likely to start up intra-ventures than individuals who lack such experience. (Boeker 1997; Zahra 1991, 1993; Zahra and Covin 1995; Zahra and Garvis 2000; Sebora and Theerapatvong 2010; Parker 2011). (Covin & Miles 2002; Parker 2011).
  9. 9. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda Sample Adult Population Survey (GEM in Spain) 9277 observations adult individuals (18- to 64-year-old). Methodology We use a negative binomial regression model The negative binomial regression model provides a solution to the problem of over-dispersion and bias problems that we found in our sample (Cameron and Trivedi 1998; Greene 2003; Hilbe 2007). Studies have used negative binomial regression methods to test samples with similar characteristics to ours (Audrestch and Lehmann 2005), Gregorio and Shane 2003) and Rothaermel 2001).
  10. 10. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda Dependent Variables: firm creation Model A Model B independent_venturing corporate_venturing 1 = individual that has recently created a new business (younger than 42 months old) 0 = otherwise 1 = (a) individual that has recently created a new venture for employer as part of his/her normal work (b) is a full-time employee 0 = otherwise Intra_experience 1= individual that has been involved in the development of new activities (i.e., new goods/services, new business, etc.) for her/his main employer during the last three years (Bosma et al. 2010) 0=otherwise Independent Variables
  11. 11. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda Other Variables Educ_higher 1=Higher education 0=otherwise Entre_experience 1=has shut down a business in the past 12 months 0=otherwise Investor_experience 1=has invested his or her own funds into private-held entrepreneurial ventures started by others during the past three years 0=otherwise Know_entrepreneur 1=indicating whether the individual knew other entrepreneurs who started a business in the past two years 0=otherwise PIncome_higher 1=indicating whether the individual’s annual income is higher than 30,000 Euros per year. 0=otherwise opportunity_ recognition 1=if the individual perceives good opportunities 0=otherwise Skills 1= indicating whether the individual possesses the knowledge, skills and experience required to starting a business; 0 = otherwise FearFailure 1= indicating whether the individual considers that fear of failure would prevent him or her from setting up a business. Region_highincome 1= represents the Spanish regions with high level of GDP per capita respect to the media of all regions Gender, Age
  12. 12. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda Model I Independent_venturing Model II Corporate_venturing Parameters B S.E. Sig. B S.E. Sig. (Intercept) -5.369 .5629 *** -7.369 1.396 *** Intra_experience 2.251 .1442 *** 3.025 .3041 *** Educ_higher .079 .0921 -.261 .2284 Entre_experience .806 .2050 *** .263 .7155 IInvestor_experience .048 .1821 .964 .3394 *** Know_entrepreneurs .729 .0893 *** .845 .2448 *** PIncome_higher .197 .0912 * .906 .2883 *** StartupOpportunity_recognition .427 .0988 *** .233 .2603 Skills 1.535 .1380 *** 1.419 .3554 *** FearFailure -.411 .0898 *** -.787 .2502 *** Gender .078 .0883 .372 .2355 Age .089 .0292 *** .048 .0632 Age2 -.001 .0004 *** -.001 .0008 Region_highincome -.066 .0868 .132 .2265 (Scale) 1.000 1.000 (Negative binomial) 1.000 1.000 Omnibus test = -2(LBo-LB 501.502 196.400 P-Value *** *** Pseudo R2= 1 - (LB / LBo) .126 .199 N 9190 9277 Preliminary Results
  13. 13. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda • Intrapreneurial experience contributes to the spreading of the knowledge base, networking capacity of individuals and leadership skills, which ultimately reinforce individuals’ self-confidence and conviction needed to start up a firm. • Our preliminary result could complements other findings highlighting the relevance of work experience on firm creation and intra-venturing (Bates 1990; Bosma et al. 2004; Davidsson and Honig 2003). • The experience gained by being employed by organization with intrapreneurial practices may be useful for an individual willing to start up a independent venturing
  14. 14. Research Motivations Theoretical approaches Methodology Conclusions Future research Preliminary results Agenda Our limitations…… new research opportunities • Spanish context… will allow explore it in other countries • We used cross-section data. Longitudinal data will allow us to capture the dynamic dimension of this phenomenon. •A natural extension of our work could be to test the effect of individuals’ intrapreneurial experience on the actual growth pattern (high-growth orientation) of new firms. • Another research avenue would be to examine the role played by the parent firm. (….How corporate entrepreneurship is managed to optimize the performance of a portfolio of spin-offs? …..)
  15. 15. Many thanks for your attention! Maribel Guerrero, Iñaki Peña Orkestra-Basque Institute of Competitiveness. Deusto Business School.
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