The Relationship Between Entrepreneurial Intensity and Shareholder Value Creation

Innovation and entrepreneurship have long been regarded as sources of value and wealth creation. Previous research has shown that there is a positive relationship between enterprises’ levels of entrepreneurship and their financial performance. Little research, however, has hitherto focused on measuring the relationship between entrepreneurship and shareholder value creation. In this study the relationship between the entrepreneurial intensity and the shareholder value created by an enterprise is investigated. An adapted corporate entrepreneurship (CE) measurement instrument is applied in order to gauge entrepreneurial intensity, while shareholder value creation is measured by the market adjusted total share return (TSR) and the value based financial performance measure Economic Value Added (EVA). The study is conducted for a sample of enterprises listed in the industrial sector of the Johannesburg Securities Exchange (JSE) for the period 2003–2005. The contribution of the study is the focus on the relationship between entrepreneurial intensity and shareholder value creation, rather than purely on the accounting-based financial performance of an enterprise.entrepreneurial intensity, value based financial performance measures, economic value added

The influence of antecedents to corporate entrepreneurship on entrepreneurial intensity: the case of South African companies

Abstract not available

Shaping corporate entrepreneurship capability: the impact of rewards

Abstract not available

Creating corporate entrepreneurship through strategic leadership

The original publication is available at http://www.isma.info/index.php?k=6&s_id=9Strategy is not what it used to be. To compete effectively, large businesses must respond quickly, creatively and innovatively to develop an entrepreneurial environment to assist this response. Strategic leadership is crucial to develop the organizational environment needed to increase the entrepreneurial orientation in established businesses. The purpose of this article is to determine if the salient organizational factors that aid in the development of the corporate entrepreneurship (CE) capability are applicable in the South African context. A cross sectional telephone SUIVey of 315 South African companies indicated that strategic leadership of an enteiprise is crucial to develop and support CE. Strategic leadership which encourages autonomy and provides rewards for entrepreneurial behaviour creates a supportive organizational structure to strengthen corporate entrepreneurship.Publishers' Versio

The Relationship Between Entrepreneurial Intensity and Shareholder Value Creation

Innovation and entrepreneurship have long been regarded as sources of value and wealth creation. Previous research has shown that there is a positive relationship between enterprises ’ levels of entrepreneurship and their financial performance. Little research, however, has hitherto focused on measuring the relationship between entrepreneurship and shareholder value creation. In this study the relationship between the entrepreneurial intensity and the shareholder value created by an enterprise is investigated. An adapted corporate entrepreneurship (ce) measurement instrument is applied in order to gauge entrepreneurial intensity, while shareholder value creation is measured by the marketadjusted total share return (tsr) and the value based financial performance measure Economic Value Added (eva). The study is conducted for a sample of enterprises listed in the industrial sector of the Johannesburg Securities Exchange (jse) fortheperiod2003–2005. The contribution of the study is the focus on the relationship between entrepreneurial intensity and shareholder value creation, rather than purely on the accounting-based financial performance of an enterprise. Key Words: entrepreneurial intensity, value based financial performance measures, economic value added jel Classification: l25, l2

Entrepreneurial postures: A configuration study

While most researchers test explanatory models of the effect of entrepreneurship on firm performance, this paper uses a configuration approach to highlight the shared characteristics that are collectively meaningful to explain performance in small firms. Organizational form taxonomies are constructed to include structure (external and internal environment) and conduct (strategy process and entrepreneurial orientation) as related to performance; using cluster analysis and ANOVAs for a sample of 320 small firms. The results identify entrepreneurial, simple and consolidator configurations. Interestingly Entrepreneurial firms exhibit higher levels of formalization, indicating informal structures may not be ideal for small firms intending to reap rewards from entrepreneurial behaviors

Properties of balance : A pendulum effect in corporate entrepreneurship

Organizations tend to evolve in ways that are inherently resistant to entrepreneurship. Yet, entrepreneurship is instrumental for ensuring the long-term sustainability of any enterprise. The key to maintaining relatively high levels of entrepreneurship within a company lies in understanding the basic nature of the entrepreneurial experience, recognizing the inherent entrepreneurial potential of all employees, and creating work climates that allow employees to act on that potential. Five primary design elements are identified for facilitating such climates. Underlying these design elements is a set of seemingly conflicting properties. The challenge to companies is to achieve a balance between these properties whereby they are allowed to co-exist. Approaches to implementing this balance are addressed herein

Properties of balance: A pendulum effect in corporate entrepreneurship

Organizations tend to evolve in ways that are inherently resistant to entrepreneurship. Yet, entrepreneurship is instrumental for ensuring the long-term sustainability of any enterprise. The key to maintaining relatively high levels of entrepreneurship within a company lies in understanding the basic nature of the entrepreneurial experience, recognizing the inherent entrepreneurial potential of all employees, and creating work climates that allow employees to act on that potential. Five primary design elements are identified for facilitating such climates. Underlying these design elements is a set of seemingly conflicting properties. The challenge to companies is to achieve a balance between these properties whereby they are allowed to co-exist. Approaches to implementing this balance are addressed herein.Balance Chaos Corporate entrepreneurship Paradox Work climate