What does it take to be a star? The role of performance and the media for German soccer players

We test existing superstar theories for the German soccer league. We use various measures for individual players’ performance and media presence to analyze whether performance and popularity can explain salaries and superstars in soccer. Moreover, we argue that quantile regression technique should be applied to analyze superstar phenomena instead of OLS used hitherto.Superstars, soccer, quantile regressions, Rosen, Adler

Entrepreneurial ecosystems: a dynamic lifecycle model

The concept of entrepreneurial ecosystems has been used as a framework to explain entrepreneurial activities within regions and industrial sectors. Despite the usefulness of this approach, the concept is under-theorized, especially with regard to the evolution of entrepreneurial ecosystems. The current literature is lacking a theoretical foundation that addresses the development and change of entrepreneurial ecosystems over time and does not consider the inherent dynamics of entrepreneurial ecosystems that lead to their birth, growth, maturity, decline, and re-emergence. Taking an industry lifecycle perspective, this paper addresses this research gap by elaborating a dynamic entrepreneurial ecosystem lifecycle model. We propose that an ecosystem transitions from an entrepreneurial ecosystem, with a focus on new firm creation, towards a business ecosystem, with a core focus on the internal commercialization of knowledge, i.e., intrapreneurial activities, and vice versa. Our dynamic model thus captures the oscillation that occurs among entrepreneurs and intrapreneurs through the different phases of an ecosystem’s lifecycle. Our dynamic lifecycle model may thus serve as a starting point for future empirical studies focusing on ecosystems and provide the basis for a further understanding of the interrelatedness between and co-existence of new and incumbent firms

Entrepreneurial Human Capital, Complementary Assets, and Takeover Probability

Gaining access to technologies, competencies, and knowledge is observed as one of the major motives for corporate mergers and acquisitions. In this paper we show that a knowledge-based firm’s probability of being a takeover target is influenced by whether relevant specific human capital aimed for in acquisitions is directly accumulated within a specific firm or is bound to its founder or manager owner. We analyze the incentive effects of different arrangements of ownership in a firm’s assets in the spirit of the Grossman-Hart-Moore incomplete contracts theory of the firm. This approach highlights the organizational significance of ownership of complementary assets. In a small theoretical model we assume that the entrepreneur’s specific human capital, as measured by the patents they own, and the physical assets of their firm are productive only when used together. Our results show that it is not worthwhile for an acquirer to purchase the alienable assets of this firm due to weakened incentives for the initial owner. Regression analysis using a hand collected dataset of all German IPOs in the period from 1997 to 2006 subsequently provides empirical support for this prediction. This paper adds to previous research in that it puts empirical evidence to the Grossman-Hart-Moore framework of incomplete contracts or property rights respectively. Secondly, we show that relevant specific human capital that is accumulated by a firm’s founder or manager owner significantly decreases that firm’s probability of being a takeover target.ownership structure, property rights, mergers & acquisitions

Knowledge frontiers and boundaries in entrepreneurship research

While the disruptive potential of knowledge has been receiving growing attention in small business economics and entrepreneurship research and application over the last decade, its boundaries and frontiers, including technological, spatial, institutional, cognitive, and cultural has not been fully explored. Here we present some reflections and a collection of papers on the role of knowledge investment across different cultural, institutional, geographical, and industrial contexts for this emerging area in entrepreneurship and management research. While being careful of the swift changes in knowledge creation, dissemination, and testing in a digital age, geography of knowledge diffusion, knowledge embeddedness into industries and places, skills, and strategies continue to change the way firms assimilate, absorb, create, and transfer knowledge. In this special issue, we extend our knowledge boundaries through knowledge collaboration theory, resource theory, open innovation theory, knowledge and creativity spillover of entrepreneurship theory, economic geography, and creative class and institutional theories. We give researchers and practitioners future directions for a very relevant and fast-growing area of entrepreneurship and small business research

Corporate accelerators: design and startup performance

Corporate accelerators (CAs) have emerged as a key component of entrepreneurship ecosystems, offering startups corporate guidance, industry connections, and resources for accelerated venture creation. Although their proliferation is evident, we still know little about the value they produce for startups across different contexts. This study investigates the organizational setup and program design of 15 CAs in Germany using a unique and hand-collected dataset of 223 alumni startups. Our findings reveal a tradeoff: Specialized and integrated programs positively impact startups’ speed to market and growth, while specialization and rising corporate control may hinder follow-up venture capital financing. This research contributes to our understanding of CAs and the startup acceleration process and provides insights for corporate and accelerator managers and startups alike. Startups can use these findings to identify the most suitable CA for their needs. Program managers and designers gain insights into the strategic orientation and organizational setup that positively impact startup acceleration

Universitäten als regionale Förderer der Wirtschaft?

In diesem Beitrag werden mögliche Einflussfaktoren auf die Standortentscheidung von Unternehmen in der Umgebung von Universitäten aufgezeigt. Dabei wird auf Studien zurückgegriffen, die anhand der am Neuen Markt gelisteten Unternehmen durchgeführt wurden. Als wesentliche Einflussfaktoren auf die Ansiedlung von Unternehmen in räumlicher Nähe zu Universitäten erweisen sich die Anzahl der Studenten sowie die Forschungsleistungen, vor allem im Bereich der Naturwissenschaften. Zudem macht sich für Unternehmen die räumliche Nähe zu einer forschungsintensiven Universität längerfristig in einer überdurchschnittlichen Entwicklung am Aktienmarkt bezahlt.Wirtschaftsförderung; Regionalpolitik; Hochschule; Forschungskooperation; Betriebliche Standortwahl; Standortfaktor