Abstract: Why do family firms differ by their risk-taking behaviors By integrating theoretical concepts from behavioral economics and resource-based view, we first advance a proposition that explains the variance in risk-taking behaviors of family firms based on their different ownership structures. Then drawing insights from family firm literature, we explain why three distinct forms of parental altruistic archetypes will moderate the base proposition.

Abstract: Despite the importance of small and new firms in product innovation, current research still lacks a unified framework that explicates why large variation exists in innovation among those firms. We develop and empirically test an attention-based model of new product commercialization. In prior research, entrepreneurial attention has been associated with firm innovation. We investigate how entrepreneurial attention placed to the product-market domain problem affects innovative organizational activities (i.e., information search and external knowledge acquisition) and the likelihood of product commercialization in the firm. Further, we explore the antecedents of entrepreneurial attention from an organization-environment alignment approach—i.e., the intensity of entrepreneurial attention is a result of the firm’s alignment between its organizational newness and environment conditions such as dynamism and adversity.

Abstract: This paper focuses on the strategic factors that may influence small biotech’s control rights in collaborative innovation under the financial constraints. I find that instead of following a service-based platform strategy, biotech firms may improve their bargaining power, and earn greater control rights by developing their proprietary drug portfolio. They may also gain more control rights in early-stage collaborative research by increasing their research intensity and strengthening their research capabilities. In addition, long-term relationship with established partners also helps biotech firms to win more control rights, as repeated collaboration gives their partners better understandings of their contribution in alliances. However, partners that have competing products or those with strong internal R&D are not likely to award great control rights to the biotech firms.

Abstract: Compared with the general population, higher levels of expertise and experience were expected to influence the start-up rationales of older entrepreneurs, the overall rewards passing to them, and the performance of their organizations. Factor and regression analyses were utilized, respectively, to identify start-up patterns and to connect these patterns to organizational performance and entrepreneurial rewards. Two key findings emerged. First, the reasons for starting new businesses expressed by older entrepreneurs stressed integrating their interests and those of key social players while realizing opportunities in the marketplace. Second, respondents able to find the impetus to launch ventures that simultaneously answer the needs of markets, key social groups and themselves will be rewarded with both psychic and economic returns.