Get it together! Synergistic effects of causal and effectual decision-making logics on venture performance

Entrepreneurs rely on different decision-making logics when starting new ventures, including causal and effectual reasoning. Extant research suggests that venture performance is positively associated with both causal business planning and effectual action-orientation, but studies have not yet tested the synergistic potential of these two logics. We contribute to the debate on entrepreneurial decision making by exploring the interrelationship between causation and effectuation, detailing their main and interactive effects on venture performance. Using survey data collected on 1,453 entrepreneurs residing in 25 countries, we find that ventures benefit from using these two entrepreneurial logics in tandem

ADHD-like behavior and entrepreneurial intentions

Little is known about the relation between entrepreneurship and the extent of psychiatric symptoms. Validated psychiatric symptom scores are seldom used for non-clinical reasons. One prevalent symptom that deserves our interest is Attention Deficit and Hyperactivity Disorder (ADHD). ADHD is a developmental disorder characterized by inattentiveness and hyperactivity that has been linked to occupational choice and performance. Building on the person–environment fit literature, we hypothesize that individuals who exhibit behavior associated with ADHD are more likely to have entrepreneurial intentions. Using a sample of 10,104 students enrolled in higher education, we can confirm our prediction that students with a higher level of ADHD-like behavior are more likely to have entrepreneurial intentions. Additionally, we show that risk taking propensity is a mediator that partly explains this positive effect. Our study points to the importance of behavioral tendencies associated with developmental disorders, when making entrepreneurship decisions. Our study contributes to the literature on the determinants of entrepreneurship, which so far has largely neglected the effects of psychiatric symptoms on entrepreneurship

ADHD-like behavior and entrepreneurial intentions

Little is known about the relation between validated psychiatric symptoms scores and the entrepreneurial decision. Building on the Person-Environment (P-E) fit literature and using data of over 10,000 students, we test whether individuals with higher levels of attention deficit and hyperactivity (ADHD) have higher entrepreneurial career intentions compared to others. We find that students reporting higher levels of ADHD-like behavior (assessed with a symptom score on an ADHD screening scale) are more likely than their peers to display entrepreneurial intentions and become student entrepreneurs. This can be partly explained by their high need for independence and their risk tolerance

Time is not money | Experimentelle Beiträge zur Konsumenten- und Entrepreneurshipforschung

Benjamin Franklins berühmtes Zitat »Zeit ist Geld« impliziert, dass Menschen mit ihrer Zeit genauso sorgfältig umgehen sollten wie mit ihrem Geld. Beide Ressourcen unterscheiden sich jedoch grundlegend: Zeit kann z.B. nicht gespeichert werden und der Wert von Zeit ist auch nicht konstant, sondern von den Aktivitäten abhängig, die gerade stattfinden. Die zentrale Frage dieses Buches ist, wie Menschen mit ihrer Zeit umgehen und ob eventuelle Abweichungen vom ökonomischen Rationalmodell systematisch sind. Im Studium der einschlägigen Literatur und in fünf experimentellen Studien zum Verhalten von Konsumenten und Unternehmern zeigt Katrin Burmeister-Lamp, dass Menschen mit ihrer Zeit großzügiger und risikofreudiger umgehen als mit ihrem Geld, dem Besitztums-, dem Kompromiss- und dem Verankerungseffekt verstärkt zum Opfer fallen und zeitlichen Verlusten gegenüber weniger avers sind als gegenüber monetären Verlusten. Katrin Burmeister-Lamp zeigt, wie Konsumenten und Unternehmer besser mit ihrer Zeit umgehen können, ohne typischen Entscheidungsfehlern zu erliegen. Die Resultate der Arbeit gewinnen insbesondere an Bedeutung, weil einerseits immer mehr Technologien entwickelt werden, die einen effizienteren Umgang mit Zeit erlauben, andererseits demgegenüber jedoch aktuelle Trends wie Entschleunigung und das Training von Achtsamkeit stehen

Get it together! Synergistic effects of causal and effectual decision-making logics on venture performance

Entrepreneurs rely on different decision-making logics when starting new ventures, including causal and effectual reasoning. Extant research suggests that venture performance is positively associated with both causal business planning and effectual action-orientation, but studies have not yet tested the synergistic potential of these two logics. We contribute to the debate on entrepreneurial decision making by exploring the interrelationship between causation and effectuation, detailing their main and interactive effects on venture performance. Using survey data collected on 1,453 entrepreneurs residing in 25 countries, we find that ventures benefit from using these two entrepreneurial logics in tandem