|Professor,St. Petersburg University Graduate School of Management, Far Eastern Federal University School of Economics and Management
What factors play a crucial role in the decision making of Russian firms about foreign market entry? The search for an answer to this question becomes even more important if we account for SMEs whose capabilities are substantially limited compared to large companies. We used the unique data set of Russian SMEs in our study. Based on the logistic regression analysis, the results indicated that while competitive hostility and resource availability positively influenced SMEs internationalization, institutional heterogeneity had a negative impact on its likelihood. In the analysis we used a holistic «three pillars» framework (institutional, industrial, and firm-level factors). It helps to explore the differences between internationalized and non-internationalized Russian firms and to understand the relative contribution of each factor in forming internationalization propensity of SMEs in the transition environment.Read more...
What do we know about new ventures? Definitions, characteristics and factors influencing their growth
This article attempts to systematize the existing knowledge about factors influencing new venture growth, through literature review of 56 research articles in this area. New venture definitions and characteristics are discussed in this study. Based on the literature review key factors that influence new venture growth are identified, which contain business environment, including industry and geographical characteristics, new venture strategy and firm internal environment, representing personal features, experience and competence level of entrepreneur or entrepreneurial team, firm resources, its capabilities and organizational structure. Influence of each of them may differ from time to time and depend on the particular circumstances certainly, but the fact of their impact is evident based on the results of conducted research studies. As the result of literature review we identified the main gaps in this new venture research stream, and proposed further research directions.Read more...
The purpose of this study is to provide the analysis of main research on students’ entrepreneurial intentions, published in leading peer-reviewed academic journals on entrepreneurship and small business in 1991 – 2015. The study of entrepreneurial intentions plays an important role in explaining and predicting actual entrepreneurial behavior, and student life is a stage where attitudes towards entrepreneurship start to be formed. The review of publications identified three approaches to the analysis of students’ entrepreneurial intentions: entrepreneurial trait, behavioral and contextual approaches. The results have shown that during the development of entrepreneurial intentions concept, the research focus has been shifted from investigation of entrepreneurial personality and individual characteristics of entrepreneurs to the studies of entrepreneur’s behavior, and recently — to studies of contextual factors associated with entrepreneurial intentions. The analysis of economic, institutional and socio-cultural external environment, related to the formation of students’ entrepreneurial intentions, and conducting comparative and longitudinal studies are possible future research directions in this field. The study contributes to the entrepreneurship literature by review and systematization of previous research on students’ entrepreneurial intentions, identification of main research approaches to their analysis and possible directions for further research. Besides this, the analysis also allowed to trace the development of entrepreneurial intentions concept in academic literature.Read more...
Identification of the firms’ growth factors is a core task for strategic management. Over the past century, researchers have shown a significant interest in this topic which have been converted in an amount of articles considering the influence of different factors on firm`s growth. Nevertheless this topic is so investigated it remains topical actual, because the current models are not accurate in predicting growth. The aim of this article is defining the main directions of firm`s growth research on the basis of literature review in order to understand the current stage of theory development and provide perspective avenues for future researches. In order to achieve this aim we have selected articles published during period from 1990 to 2016, devoted to investigating factors influencing firm growth. Based on analysis of 163 articles from top journals in the field of entrepreneurship and management authors distinguished four research directions: influence of the personal characteristics of an entrepreneur on firm growth, influence of different types of resources, influence of internal characteristics and influence of the external environment. Identified features of contemporary stage of development of the research field allow us to identify avenues for future research on firm growth.Read more...