Browsing by Subject "Unternehmer"

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Essays on investor communication in the context of startups
(2023) Kaiser, Manuel Tobias; Kuckertz, Andreas
With their creativity and innovative business models, entrepreneurs make an important contribution to global innovation, thus promoting economic growth and the labor market with startup jobs. However, the growth ambitions of entrepreneurs also require investments. Against this backdrop, previous research has already extensively discussed the importance of external investors and highlighted different facets of the entrepreneur-investor relationship. Central concept, to explain this relationship, is investor relations, which mainly refers to the communication of entrepreneur and investor. However, research on investor communication faces the challenge that a variety of new players, hence new forms of financing, have recently emerged in the market, further fragmenting the research field. In addition, technological advances are also changing the way entrepreneurs and investors communicate with each other. Against this background, previous research on investor relations in the startup context leaves open research questions that will be answered in this dissertation. This results in the following overarching research question for the structure of this dissertation: How do entrepreneurs shape communication with their investors? The first study was co-authored with Andreas Kuckertz and captures the research landscape on entrepreneurial communication using bibliometric analyses with algorithmic historiography and thematic map for science mapping. Thus, the structures of previous communication research from an entrepreneurship perspective are examined in more detail. The basis of this analysis is 383 articles from peer-reviewed journals. The results of these analyses show that communication in the context of resourcing is a relevant field of research, especially in investor relations. Overall, this study thus opens the research field of this dissertation by embedding investor communication as an element of entrepreneurial communication research. The second study was conducted with Elisabeth S.C. Berger and is a structured literature review that reviews the current state of research on trust between entrepreneurs and different types of investors. It identified and analyzed 32 articles dealing with trust in the context of venture capital, business angels, crowdfunding, or bank financing. This study builds on the results from the first study by revealing that communication is a trust-building factor. Thus, the second study shows how different concepts are interrelated and influence trust in the entrepreneur-investor relationship. The third study is co-authored with Andreas Kuckertz and examines the communication of entrepreneurs before and during the first wave of the COVID-19 pandemic. It also considers the extent to which entrepreneurs financed by a venture capital investor differ in their communication from those entrepreneurs working without an investor. For this purpose, a novel method of text analysis was used to examine 110,283 tweets from 760 entrepreneurs. The results indicate that working with a venture capital investor also changes the professionalism of founder communication. This group shows a more professional expression of their emotions. In the fourth study, which was conducted in collaboration with Andreas Kuckertz, the emotions of investors expressed in communication are examined. This study focuses on venture capitalists and business angels. Although these two investors have a longer history in entrepreneurship research, their emotions have so far been largely ignored. However, since emotions are also relevant within relationships and therefore also in communication, this study broadens the view of the big picture in the entrepreneur-investor relationship by adding an emotional perspective. For this study, 994,969 tweets from 822 investors were analyzed and statistically compared regarding their emotions. Overall, the four studies in this dissertation address different relationship concepts that arise in the context of entrepreneur-investor relationships. Thus, this dissertation also provides impulses for entrepreneurs and investors in practice, for research and also for politics.
From passion to performance : entrepreneurial passion in the creative industries
(2022) Schulte-Holthaus, Stefan; Kuckertz, Andreas
Entrepreneurship drives progress, innovation, growth, and prosperity. Passion, in turn, motivates and energizes people to pursue meaningful activities on a sustained basis. In following their passion and in interacting with their proximal environments, people build up competencies, knowledge, experience, and social relations, which may result in peak performance. When passion develops and relates to the creation, discovery and exploitation of entrepreneurial opportunities, entrepreneurial passion emerges. The current state of research shows that entrepreneurial passion is a source of motivation, inspiration, creativity, and perseverance. In the cultural and creative industries, entrepreneurship often begins from a passion for an artistic or creative work that is pursued as a hobby or leisure activity, which professionalizes over time. Thereby, passion for a creative or artistic activity can also create tensions between ideational and economic-organizational imperatives in entrepreneurial contexts. However, how, and why an artistic or creative passion develops into an entrepreneurial one and how it affects entrepreneurial success is unchartered territory. Hence, the aim of this dissertation is to investigate and explain the development of passion and its effect on entrepreneurial performance of creative people whose venturing ambitions are primarily driven by a non-entrepreneurial passion. The first study identifies the current state of literature on entrepreneurship in the cultural and creative industries. The review elaborates the phenomenon of a non-entrepreneurial passion as central feature of creative industries entrepreneurship and outlines its potential for future research. The second study presents a review of the state of research on passion in the entrepreneurial context and develops a theory-based approach that explains how passion emerges, and how it can extend to entrepreneurship and lead to entrepreneurial performance. Based on 11 semi-structured interviews with successful entrepreneurs whose life paths are characterized by passion for music, the third study follows this assumption and generates mental maps using the Conceptual Causal Mapping method. The results explain the development of real-life passion over time, its current constitution and embeddedness within the personal, social, and entrepreneurial life context and the relation of passion to performance. Based on the person-environment fit theory, the final study develops a model that substantiates the positive effects of life context fit on entrepreneurial passion and performance. Life context fit is operationalized using personal project analysis and the hypotheses were tested on a sample of 406 creative entrepreneurs using partial least squares structural equation modeling. The results demonstrate the effect of life context fit on entrepreneurial passion and its successive translation into performance in four subsegments that can be classified as artepreneurs, culturepreneurs, creative entrepreneurs, and lifestyle entrepreneurs. However, contrary to expectations, the analyses also indicate that neither the life context fit, nor the domains of entrepreneurial passion have uniform positive outcomes. Rather, these relations occur with compounded positive and negative effects. These results are surprising as the extant literature has found nearly consistent positive outcomes of passion on performance. Post-hoc analyses reveal the varying constitutions of life contexts and the existence of previously unmeasurable domains of entrepreneurial passion for products, for people, and for a social cause among creative practitioners and help explaining the positive and negative combination effects in the segments. Overall, this dissertation contributes to the cultural and creative industries literature, the state of research on passion in entrepreneurship and psychology, and the literature whose epistemological interest aim at capturing and explaining entrepreneurial contexts and environments. Findings reveal (a) the central importance, development, and impact of passion among creative and cultural entrepreneurs, (b) the influence of life context on passion and performance, and (c) the interplay of combined positive and adverse effects of the domains of entrepreneurial passion and their impact on entrepreneurial performance.
Leidenschaft und Performanz im Unternehmertum von Kreativschaffenden
(2023) Schulte-Holthaus, Stefan
Die Kultur- und Kreativwirtschaft ist geprägt von Menschen, deren Leidenschaft für eine kreative Arbeit den Beginn einer selbständigen oder unternehmerischen Tätigkeit darstellt. Dabei kommt es häufig zu Konflikten zwischen der eigenen Leidenschaft, den unternehme-rischen Anforderungen und dem persönlichem Lebensumfeld. Anderseits können sich Le-ben, Leidenschaft und Unternehmertum auch positiv ergänzen und die Herausbildung einer umfassenden unternehmerischen Leidenschaft begünstigen, die wiederum unternehmeri-sche Performanz fördert. Dieser Research Brief stellt die aktuellen Forschungsergebnisse zu Leidenschaft von kreativschaffenden Unternehmern dar und zeigt, wie die gewonnenen Erkenntnisse in der Praxis und in der Entrepreneurship-Ausbildung genutzt werden können.
Next match entrepreneurship : three studies exploring the career transition from professional athletes to entrepreneurs
(2022) Steinbrink, Kathrin Michaela; Kuckertz, Andreas
Der Karriereübertritt von Leistungssportlern wird in der Gesellschaft mit großem Interesse verfolgt. Aber nicht nur berühmte Olympia-Gewinner oder Weltmeister müssen ihre Karriere in jungen Jahren überdenken. Auch Berufssportler auf nationaler Ebene oder Leistungssportler von Randsportarten sind damit konfrontiert, an einem gewissen Punkt in ihrer Sportkarriere einen komplett neuen beruflichen Weg einzuschlagen. Bisherige Forschung hat ein hohes Maß an unternehmerischer Aktivität im Sportsektor gezeigt. Es stellt sich die Frage, ob die hohe dichte an Unternehmertum von den Hauptakteuren des Sports abhängt, den Athleten. Um die spezielle Ausgangssituation von Athleten besser zu verstehen, die Athleten im Übertritt zu fördern und auf ihr enormes Potenzial durch die einzigartigen Erfahrungen hinzuweisen, befasst sich diese Dissertation mit der übergeordneten Forschungsfrage: “Was beeinflusst den Karriereübertritt von Athleten in eine unternehmerische Laufbahn?” Nach einer kurzen Einleitung, werden Leistungssportler als “second career entrepreneurs” eingeordnet. Der aktuelle Forschungsstand, dargestellt in 1.2, zeigt auf, dass Athleten-Gründertum als eigener untergeordneter Forschungsstrom von bestehender Forschung zu Sport-Gründertum abgegrenzt werden sollte. Abschnitt 1.3 führt neben einer grafischen Übersicht über die drei Studien dieser Dissertation die untergeordneten Teilforschungsfragen auf, welche unterschiedliche Aspekte der Theorie des geplanten Verhaltens (TPB) betrachten. Anschließend werden in Abschnitt 1.4 die Struktur und die Anwendungsbereiche der Dissertation aufgezeigt. Studie 1 in Abschnitt 2 wurde gemeinsam mit Andreas Kuckertz und Elisabeth S. C. Berger erstellt und befasst sich mit der Eignung von Leistungssportlern als Unternehmer. Es wurden die big five Persönlichkeitsmerkmale (Neurotizismus, Extraversion, Offenheit für Erfahrungen, Gewissenhaftigkeit und Verträglichkeit) sowie die Risikoneigung von Leistungssportlern (von Sportarten mit niedrigem und hohem Risiko) und Nicht-Sportlern erhoben und mit einer Varianzanalyse (ANOVA) und post-hoc Tests analysiert. Die Ergebnisse wurden mit den Persönlichkeitsmerkmalen verglichen, die Unternehmern zugesprochen werden. Dieser explorative Vergleich basiert auf der Theorie der Passung zwischen Person und Arbeit und zeigt die Gemeinsamkeiten zwischen den Karrieren von Leistungssportlern und Unternehmern. Die übereinstimmenden Persönlichkeitsmerkmale führen zu dem Schluss, dass Unternehmertum eine geeignete Wahl für eine zweite Karriere von Leistungssportlern sein kann. Diese erste Studie der Dissertation bildet die Grundlage für die in Kapitel 2 und 3 folgenden Untersuchungen. Die zweite Studie in Kapitel 3 konzentriert sich auf den Prozess des Karriereübertritts aus dem Leistungssport in das Unternehmertum. Mit dem explorativen Ansatz werden zahlreiche Treiber und Hindernisse über elf semi-strukturierte Interviews identifiziert. Mit der Methode “comparative causal mapping” wurden Gemeinsamkeiten festgestellt, welche in Fähigkeiten und Eigenschaften, Ergebniserwartungen, Übertrittsbedingungen und Effekte gruppiert wurden. Durch das Einhalten des Person-Umwelt Fits unterstützen die Ergebnisse sowohl die Selektions- als auch die Sozialisationshypothese der Karriere. Außerdem wurden der Vorteil von Leistungssportlern herausgestellt, auf mögliche widrige Umstände verschiedene Bewältigungsstrategien zu entwickeln. Nachdem Einflussfaktoren auf den Karriereübertritt von Athleten-Gründern gefunden wurden, konzentriert sich Studie 3 in Kapitel 4, die gemeinsam mit Celine Ströhle erstellt wurde, auf den Einfluss von Resilienz auf die Gründungsneigung. Basierend auf der Annahme eines erhöhten Resilienzlevels von Leistungssportlern verglichen mit Nicht-Sportlern, wird Resilienz als Einflussfaktor auf die Gründungsneigung untersucht. Zunächst zeigt die Varianzanalyse zwischen den beiden Gruppen einen signifikanten Unterschied im Resilienzlevel auf. Die Strukturgleichungsanalyse bestätigt den Einfluss der Resilienz auf die Gründungsneigung bei Leistungssportlern und Nicht-Sportlern unter Einbezug der Theorie des geplanten Verhaltens. Außerdem wurde ein signifikanter Unterschied in der Beziehung zwischen wahrgenommener Verhaltenskontrolle und Gründungsneigung zwischen Leistungssportlern und Nicht-Sportlern festgestellt. Abschnitt 5 schließt die Dissertation mit einer Zusammenfassung der wichtigsten Ergebnisse ab. Die Ergebnisse werden in den Gesamtzusammenhang der Dissertation eingeordnet und der Beitrag zu den Forschungsgebieten Athleten-Gründertum, Karriereübertritt in das Unternehmertum sowie Förderprogramme und Ausbildung zum Unternehmertum werden herausgestellt. Dies zeigt die wegweisende Rolle dieser Dissertation in der frühen Entwicklung eines neuen und entscheidenden Forschungsgebietes.
Next match entrepreneurship : three studies exploring the career transition from professional athletes to entrepreneurs
(2022) Steinbrink, Kathrin Michaela; Kuckertz, Andreas
With great interest, society watches sports stars’ career transitions. However, not only famous Olympia winners and world champions have to reconsider their career paths in their younger years. All professional athletes, also those competing on a national level or top athletes proceeding niche sports, are confronted with the need for a completely different profession at some point in their sports career. Previous research finds a high intensity of entrepreneurship within the sports sector. Therefore, the question arises on what factors that high entrepreneurial density depends on. To better understand the specific starting position into career transition, support athletes on the way out of sports, and acknowledge the great potential of athletes with unique experiences, this dissertation is guided by the overall research question: What affects the career transition of professional athletes into an entrepreneurial career? Following the short introduction, athletes are introduced as potential second career entrepreneurs. The current state of the literature on athlete entrepreneurship in 1.2 shows that athlete entrepreneurship should be considered an own sub-research stream in deferral to the existing research on sports entrepreneurship. Section 1.3 gives a graphical overview of three studies conducted within this dissertation and provides an overview of the sub-research questions addressing different aspects of the theory of planned behavior (TPB). After that, section 1.4 shows the structure and scope of this dissertation. Study 1 in section 2 was co-authored with Andreas Kuckertz and Elisabeth S. C. Berger and addresses the suitability of top athletes as entrepreneurs. The big five personality traits (neuroticism, extraversion, openness for experience, conscientiousness, and agreeableness) and risk-propensity are investigated over top athletes (practicing low-risk or high-risk sport) and non-athletes. The results are analyzed with an analysis of variance (ANOVA) and post-hoc tests and compared to the personality traits associated with entrepreneurship. The explanatory comparison builds upon the person-job fit theory, showing the similarities between the athletes’ and the entrepreneurs’ careers. The matching personality traits lead to the conclusion that entrepreneurship might be an appropriate second career choice for athletes. The first study builds a basis for the following research in studies 2 and 3. Study 2 in section 3 concentrates on the career transition process of top athletes into an entrepreneurial career. The explorative approach identifies numerous athlete entrepreneurs’ drivers and barriers within eleven semi-structured interviews. Comparative causal mapping was used to identify commonalities clustered into skills and traits, outcome expectations, transitions conditions, and effects. Findings support selection as well as socialization processes of careers by retaining the person-environment fit. Furthermore, exploiting different coping strategies on possible adversities is identified as a significant advantage for athlete entrepreneurs. After identifying influencing factors on the career transition of athlete entrepreneurs, study 3 within section 4, co-authored with Celine Ströhle, concentrates on the role of resilience influencing entrepreneurial intention. Based on the assumption of athletes higher resilience level than non-athletes, resilience is examined as a determining factor on entrepreneurial intention. First, an analysis of variance (ANOVA) shows a significant difference in the level of resilience between the two groups. The structural equation analysis supported the influence of resilience on entrepreneurial intention within the frame of the TPB for top athletes and non-athletes. Furthermore, the influence of perceived behavioral control on entrepreneurial intention was found significantly different between top athletes and non-athletes Section 5 closes the dissertation by summarizing the main findings. Placing the findings in the overall context of this dissertation and highlighting the contributions to the research areas of athlete entrepreneurship, entrepreneurial career transition, and support programs and entrepreneurship education accentuates the pioneering role of this dissertation in the early development of a new vital research stream.
The entrepreneur's social self and its impact on the entrepreneurial process
(2021) Brändle, Leif; Kuckertz, Andreas
Economic action is embedded into social systems. Prior research in entrepreneurship research has made substantial progress in delineating the impact of entrepreneurial activity on societal progress. The early agentic view on entrepreneurship relies on perceiving individual entrepreneurs as actors who shape their economic and social environments. However, entrepreneurs and their organizations are, at the same time, embedded in and driven by their social environments. Positions in social systems, in particular, might inform how individuals discover, evaluate, and exploit entrepreneurial opportunities. This doctoral thesis aims to shed light on how individuals’ feelings of belonging and status in social environments influence key mechanisms in the entrepreneurial process. More specifically, the thesis builds and tests a theory on how the social class origins of individuals influence their beliefs in entrepreneurial feasibility and alter their entrepreneurial career intentions. Furthermore, it addresses how the perceived belonging to a social group—namely, the social identity of founders—influences the strategic orientations of new ventures and ultimately impacts the entrepreneurship outcomes for the organization, the community, and the society. By drawing on the extant literature and collecting new data, this thesis analyzes the interplay between individuals’ feelings of social belonging, their status, and the key mechanisms of the entrepreneurial process over the course of four quantitative studies. In building on the existing discussions about the compatibility of structural and agentic views, it develops a theoretical model of the entrepreneur’s social self, functioning as intermediary between social systems and an entrepreneur’s behavior. For instance, the first study of this dissertation asks how social class origins affect entrepreneurial self-efficacy. Based on a sample of 700 individuals that are largely representative of the German student population, the findings show that early social environments imprint cognitive tendencies toward entrepreneurship such as an individual’s perceived entrepreneurial self- efficacy. However, in line with the study’s hypotheses, individuals can alter these cognitive imprints through selecting and creating more favorable environments at later points in time. Specifically, education and perceptions of social mobility alter initial cognitive imprints toward individuals’ belief of adequately responding to relevant entrepreneurial tasks. Whereas the first study of this dissertation enhances the understanding of the role of individuals’ perceived positions in social systems over time on their perceived feasibility of the entrepreneurial process, the second study sheds light on how such perceptions of feasibility and social position affect entrepreneurial career entries. Based on a survey among 1,003 young adults in a critical career phase, the study’s findings indicate that social class origins influence how rather than if individuals intend to enter an entrepreneurial career. That is, the higher the individuals’ social class origins, the more likely their intention to combine paid employment with self-employment activities as entrepreneurial career path. While the first two studies highlight the role of positions in social systems for the entrepreneurial process, the remaining two studies in this dissertation turn toward how perceptions of belonging to social systems drive individual entrepreneurial cognition, firm-level strategic decision making and performance. Hence, one study asks how entrepreneurs’ social identities affect their entrepreneurial self-efficacy. Since social identities represent individual feelings of belonging to groups in social systems, the study hypothesizes how belonging to particular founder groups alters individuals’ beliefs in their entrepreneurial self-efficacy. Drawing on a survey among 753 nascent entrepreneurs, the study finds that feelings of belonging generally increase entrepreneurial self-efficacy beliefs. Furthermore, nascent entrepreneurs identifying with a group of self-oriented entrepreneurs (driven by economic self-interest) more likely experience entrepreneurial self-efficacy compared to those entrepreneurs identifying with a group of others-oriented entrepreneurs (driven by interests in communitarian and societal value generation). The final study of this dissertation takes up the difference between self- and other oriented founder identities in order to examine its impact on new ventures’ strategic decision making and performance. Based on a sample of 318 active founders, the study’s findings delineate how founders’ social identities influence the innovativeness, risk-taking and proactiveness of their newly found ventures. Furthermore, the findings indicate that these strategic orientations only partially succeed in translating founders’ social identities into performance. Whereas founder social identities that focus on creating value for others trigger more innovative ventures, self-oriented social identities are related to more risk-taking at an organizational level, which leads to higher performance outcomes at the enterprise, community, and societal levels. Overall, the results of this dissertation contribute to research on how individuals interpret their social environments and accordingly form decisions in the entrepreneurial process. Particularly, the findings speak to the emerging field of research on the interplay between social inequality and entrepreneurial organizations. However, this doctoral thesis can only be an intermediate step of understanding the inclusiveness of the entrepreneurial process. Hence, it formulates a call and outlines a future research agenda on how social status influences the ways in which individuals identify, evaluate, and exploit entrepreneurial opportunities. This might lay the ground for further research on the role of the entrepreneur’s social self in the entrepreneurial process.
Towards asymmetric partnership management against the background of corporate entrepreneurship and open innovation literature
(2019) Allmendinger, Martin P.; Kuckertz, Andreas
The disruptive force of digitalisation and the acceleration of the innovation markets are radically changing the way in which large and established organisations innovate and how they bring new solutions to existing and new markets. Large corporate firms have started to rethink their innovation strategy by enabling partnerships with new and smaller innovation partners such as highly-skilled and technology-driven startups. To leverage the full innovation market potential, large firms seek opportunities and mechanisms to effectively manage these asymmetric partnerships and to ultimately generate new strategic competitive advantages. Based on the corporate entrepreneurship and open innovation literature, this dissertation offers broad and deep insights on the still under-researched phenomenon of Asymmetric Partnership Management. By including the perspectives of both partners, this manuscript highlights the necessity for large corporate firms to reconsider their collaborative innovation behaviour in terms of the individual needs of startup entrepreneurs. The results of the empirical studies demonstrate that large firms are willing to learn from the startup community and proactively pave the way for asymmetric partnerships by testing and maintaining new structures, processes, and activities. Large corporate firms invest in a startup-oriented partnership capability to increase the effectiveness of their Asymmetric Partnership Management and to ultimately become an innovation partner of choice. However, startup entrepreneurs are more willing to enter asymmetric partnerships when they perceive large corporate firms to be trustworthy based on different partner selection criteria. The findings of this dissertation contribute to entrepreneurship, innovation, partnership, and trust research and have practical implications for the future orientation and design of innovation and partner management of large firms. In addition to innovation managers, startup entrepreneurs can benefit from these insights and learn to improve their collaborative behaviour and to proactively realise the full potential of innovation-oriented partnerships.
When entrepreneurship becomes a matter of perspective — Four studies exploring the perception of entrepreneurship and entrepreneurs
(2021) Prochotta, Alicia; Kuckertz, Andreas
The belief that entrepreneurship is crucial to address various economic and social problems, like unemployment, has embedded entrepreneurship into mostly political discourses around the world. However, what has often been ignored is the fact that entrepreneurship requires entrepreneurs. Despite its (economic and social) contributions, for instance, very little is known about how appealing entrepreneurship is for individuals, which might be crucial as the attractiveness of entrepreneurship is related to how many individuals choose to become entrepreneurs. In this context, the question also arises of how entrepreneurship and entrepreneurs are generally perceived and understood. What is “entrepreneurial” seems difficult for many to define as different players in society (e.g., policymakers, financers, entrepreneurs, or society as a whole) perceive things differently. Previous research findings show that the mere existence of resources will not translate into the thriving of entrepreneurship in an economy per se as this does not implicate that entrepreneurship and entrepreneurs are favored and encouraged by society or societal actors. Against this background, the present dissertation is guided by the overall research question: What are the perceptions held about entrepreneurs and entrepreneurship by different stakeholders (and entrepreneurs themselves)?
Wie Business Coaching Entrepreneure unterstützen kann : eine Studie über die Beeinflussung von Wohlbefinden, Stress, Selbstwirksamkeit, Proaktiviät und Unternehmenserfolg
(2020) Fischer, Margret; Kuckertz, Andreas
The goal of this study is to show that business coaching can support established entrepreneurs. To begin with the relationship between specific elements of corporate behaviour and corporate success is analysed using the mixed-methods design. Following on from this a coaching program, tailored to the needs of entrepreneurs, was developed taking the knowledge gained into account. This program was then conducted as a study. In order to explain the objective and subjective corporate success of the entrepreneurs, study 1 shows a multiple regression analysis which was conducted with two samplings. For both samplings, the predictors of self-efficacy, proactivity, well-being and stress can predict the subjective corporate success. From the existing samplings, subjects were recruited to undertake two two-hour coaching sessions and surveyed at four points in time in accordance with the action research approach. Results achieved included more clarity concerning the problem, changes of attitude, emotional relief, increase in wellbeing, better stress management, increased proactivity and the learning of new behaviours. After the second coaching session and throughout the whole coaching process, the self-efficacy of the entrepreneurs was also significantly increased in study 2. A high level of self-efficacy ensures a high degree of confidence in ones own competences, improved stress management and an increase in satisfaction. Entrepreneurs with coaching experience also have greater self-efficacy, greater well-being and experience less stress. In summary, the designed coaching program can be used as a promising inter-vention regarding attitude and behavioural changes of entrepreneurs as well as for improving their subjective corporate success.