Journal article
A judgment-analysis perspective on entrepreneurs' resource evaluations
Journal of business research, v 65(8), pp 1102-1108
01 Aug 2012
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
Our study extends resource-based theory (RBT) by developing an understanding of how entrepreneurs judge the importance of the resource attributes of value, rareness, inimitability, and nonsubstitutability for the success of their ventures, and whether they make trade-offs between these attributes or follow RBT, which maintains that all attributes must be attained simultaneously. Resource judgments made by a sample of 181 entrepreneurs reveal that, while value and inimitability have a positive impact on resource importance, nonsubstitutability is only marginally positive, and rareness has a negative impact. Moreover, and contrary to RBT, entrepreneurs make trade-offs between resource attributes. Given prior empirical support for the critical influence of all four attributes on venture success, our findings uncover a systematic influence of judgment heuristics, cognitive biases, and institutional constraints in entrepreneurial resource judgments, and thereby provide a starting point for researchers and entrepreneurs alike to improve both theoretical models and outcomes of resource judgments. (C) 2011 Elsevier Inc. All rights reserved.
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Details
- Title
- A judgment-analysis perspective on entrepreneurs' resource evaluations
- Creators
- Benedict Kemmerer - Strategic Marketing, Consumer Products Division (CPM-SM), BSH Bosch und Siemens Hausgeräte GmbH, Carl-Wery-Strasse 34, 81739 Munich, GermanyJorge Walter - George Washington UniversityFranz W. Kellermanns - University of Tennessee at KnoxvilleV. K. Narayanan - Drexel University
- Publication Details
- Journal of business research, v 65(8), pp 1102-1108
- Publisher
- Elsevier
- Number of pages
- 7
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Management
- Web of Science ID
- WOS:000305847400004
- Scopus ID
- 2-s2.0-84861675751
- Other Identifier
- 991019167532004721
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- Collaboration types
- Industry collaboration
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Business