Entrepreneurship
154 Results
- 25 Feb 2013
- Research & Ideas
Lean Strategy Not Just for Start-Ups
- 18 Feb 2013
- Research & Ideas
Breaking Through a Growth Stall
- 13 Sep 2012
- Working Papers
Entrepreneurship in the Natural Food and Beauty Categories Before 2000: Global Visions and Local Expressions
How do entrepreneurs create a market? Geoffrey Jones takes a historical approach and focuses on influential figures who created new categories of natural and organic food, agriculture, and beauty products over the course of the twentieth century. At first these pioneering entrepreneurs, often motivated by ideological or religious convictions, faced little consumer demand for "green" products and little consumer knowledge of what they entailed. The creation of new categories thus involved a lengthy process with three overlapping waves of entrepreneurship. First, the diffusion of ideas through publishing, and promotion of research and education, engaged many entrepreneurs. They were, in effect, making the ideological case for natural products, and providing the basis for them to be made available. Second, entrepreneurs engaged in the creation of industry associations which could advocate, as well as give the nascent industry credibility and create standards. Finally, entrepreneurial ventures established retail stores, supply and distribution networks, and created brands. Read More
- 21 Aug 2012
- Research & Ideas
How to Sink a Startup
Noam Wasserman, author of the recently released book "The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup," discusses ill-advised entrepreneurial behavior. From the HBS Alumni Bulletin. Open for comment; 4 Comments posted.
- 24 May 2012
- Working Papers
Creating a Venture Ecosystem in Brazil: FINEP’s INOVAR Project
Since the mid-1990s, several groups in Brazil have been working on developing an indigenous venture capital ecosystem, largely to stimulate the establishment of innovative companies and help them gain access to capital. In 2000, the Brazilian government's Agency for Innovation (Financiadora de Estudos e Projectos, or FINEP), with support from the Multilateral Investment Fund (MIF), unveiled INOVAR, a program to address these needs. In the 12 years since INOVAR's debut, the program has had two iterations and has been recognized as a role model for government efforts to stimulate a VC ecosystem. In this paper, Ann Leamon and Josh Lerner present a brief background on private equity in both Latin America and Brazil, then explore the genesis of INOVAR (Innovation), the details of the program, and its results. They conclude with challenges to be addressed. Read More
- 03 Apr 2012
- Working Papers
Clear and Present Danger: Planning and New Venture Survival Amid Political and Civil Violence
Strategy theory often takes for granted the role of state institutions in providing stable, predictable environments in which new firms are founded. Yet, many states around the world (such as Iraq, Sudan, South Sudan, Syria, and the Democratic Republic of Congo) lack political institutions of sufficient strength to ensure personal safety and public order, thereby creating environments where civil and political violence can ferment. This paper explores the impact of such violence on new venture processes. Results show that comprehensive planning was negatively correlated with venture survival in such environments. While there are implications for strategy theory, the study is also relevant to entrepreneurs and organizations promoting new venture planning in less-developed countries, particularly those experiencing political and civil turmoil. Currently, prospective entrepreneurs are taught the importance of business planning by both universities and non-governmental organizations that offer entrepreneurial training. But this study suggests that such training will have mixed effects on new venture survival, depending on the extent to which these entrepreneurs pursue ventures in violent and uncertain environments. In such contexts where governments fail to maintain public safety and order, these training programs may actually increase the likelihood of new venture failure. Read More
- 12 Dec 2011
- HBS Cases
HBS Cases: Clocky, the Runaway Alarm Clock
- 29 Nov 2011
- Working Papers
Local Industrial Structures and Female Entrepreneurship in India
Despite its recent economic advances, India's gender balance for entrepreneurship remains among the lowest in the world. Improving this balance is an important step for India's achievement of greater economic growth and gender equality. This paper uses detailed micro-data on the unorganized manufacturing and services sectors of India in 2000-2005 to identify and quantify the importance of existing female business networks for promoting subsequent entrepreneurship among women at the district-industry-year level. Read More
- 21 Nov 2011
- Working Papers
Caste and Entrepreneurship in India
Has India's political revolution been accompanied by corresponding changes in the economic sphere? This paper argues that for the most vulnerable, whether in villages or cities, the social structure has not changed. While Scheduled Castes, Scheduled Tribes, and traditionally "middle-level" castes have made significant progress at the level of political representation in independent India, their progress in entrepreneurship has been uneven. By looking at the ownership of enterprises across the country, this paper sheds light on two larger narratives about India's emerging political economy: first, that the rich have benefitted more than the poor, the towns and cities more than the villages, and the upper castes more than the lower castes has acquired salience in several quarters. And second, that "Dalit entrepreneurship," a category conspicuous by its absence in India's business history, has become a significant trend. Findings by Lakshmi Iyer, Tarun Khanna, and Ashutosh Varshney show that while the "middle-level" castes have made progress in entrepreneurship, the Scheduled Castes and Scheduled Tribes are considerably under-represented in the entrepreneurial sphere. That is, for Scheduled Castes and Scheduled Tribes, political gains have not manifested themselves in greater entrepreneurial prowess. Read More
- 10 Nov 2011
- Working Papers
Spatial Determinants of Entrepreneurship in India
In South Asia, which regional traits encourage local entrepreneurship? While multiple studies have considered this question in advanced economies, especially for the manufacturing sector, there has been very little empirical evidence for developing countries like India. While India has historically had low entrepreneurship rates, this weakness is improving and will be an important stepping stone to further development. In this paper, the authors explore the spatial determinants of local entrepreneurship in India for both manufacturing and services. At the district level, their strongest evidence points to the roles that local education levels and physical infrastructure quality play in promoting entry. They also find evidence that strict labor regulations discourage formal sector entry, and better household banking environments encourage entry in the unorganized sector. The paper then evaluates how incumbent industrial structures of cities shape the type of entrants that emerge in local areas. Startups are more frequent for a city in industries that share common labor needs or have customer-supplier relationships with the city's incumbent businesses. This is among the first studies to quantify the spatial determinants of entrepreneurship in India. Moreover, it moves beyond manufacturing to consider services, which are very important for India's economic growth. Read More
- 07 Nov 2011
- Working Papers
Investment Cycles and Startup Innovation
In this paper, HBS professors Nanda and Rhodes-Kropf examine how the environment in which a new venture was first funded relates to its ultimate outcome, by specifically looking at what happened to venture capital-backed startups funded between 1980 and 2004. Results show that firms that were funded in "hot" markets were more likely to fail but created more value and had more highly cited patents when they succeeded. These results suggest that that flood of capital in hot markets lowers the cost of experimentation for early stage investors, and therefore allows them to fund more novel projects in periods of heated financial activity. Read More
- 27 Jul 2011
- Working Papers
With a Little Help from My (Random) Friends: Success and Failure in Post-Business School Entrepreneurship
While starting a new company usually requires an independent spirit and self-sufficient nature, the decision to jump into entrepreneurship is often influenced by the acts of others. In this paper, Josh Lerner and Ulrike Malmendier explore how the entrepreneurial tendencies of peers affect not only one's decision to start a company, but whether that company will succeed. The researchers use data from a decade of first-year class sections at Harvard Business School. Read More
- 01 Jun 2011
- Working Papers
The First Deal: The Division of Founder Equity in New Ventures
When starting a company, entrepreneurs must decide how to divide shares among the founders. The simplest way is to split the shares equally, which is what one third of startups decide to do. But that may not be the fairest or most effective way—especially in cases where some founders are doing more for the company than others. In this paper, Thomas F. Hellman (University of British Columbia) and Noam Wasserman (Harvard Business School) examine when and whether teams are likely to divide shares equally among all the founders, and explore whether such an equity split is good for the company. Read More
- 10 Jan 2011
- Research & Ideas
Is Groupon Good for Retailers?
- 20 Oct 2010
- Working Papers
Financing Risk and Bubbles of Innovation
While start-up firms are key to any technological revolution, they also run a high risk of failure. To that end, investors often provide limited capital in several careful stages, gaining confidence in a firm before doling out another round of funding. However, these investors still face the possibility that other investors won't provide follow-on funding, even when the firm's prospects remain sound. That's a big risk for individual investors who can't afford to fund a new firm all by themselves, and whose investment will flounder if others don't invest, too. Research by HBS professors Ramana Nanda and Matthew Rhodes-Kropf explores why future investors may not fund the project at its next stage even if the fundamentals of the project have not changed. Read More
- 15 Sep 2010
- Working Papers
From Bench to Board: Gender Differences in University Scientists’ Participation in Commercial Science
Does gender affect whether a university scientist will be invited to work with for-profit companies? Indeed it does. A new paper finds that male professors receive more opportunities than their female counterparts to join scientific advisory boards and start new companies. Research, focusing on the biotechnology field, was conducted by Haas School of Business professor Waverly W. Ding, MIT Sloan professor Fiona Murray, and HBS professor Toby E. Stuart. Read More
- 02 Aug 2010
- Research & Ideas
Modern Indian Art: The Birth of a Market
Before 1995, there was little market for 20th-century Indian fine art. That's when artists, auction houses, critics, and others defined a new product category—modern Indian fine art—resulting in worldwide demand and soaring prices. Professor Mukti Khaire explains the dynamics behind new market categories. Read More
- 21 Jun 2010
- Research & Ideas
Strategy and Execution for Emerging Markets
How can multinationals, entrepreneurs, and investors identify and respond to new challenges and opportunities around the world? In this Q&A, HBS professors and strategy experts Tarun Khanna and Krishna G. Palepu offer a practical framework for succeeding in emerging markets. Plus: Book excerpt with action items. Read More
- 15 Apr 2010
- Working Papers
The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis
What difference do angel investors make for the success and growth of new ventures? William R. Kerr and Josh Lerner of HBS and Antoinette Schoar of MIT provide fresh evidence to address this crucial question in entrepreneurial finance, quantifying the positive impact that angel investors make to the companies they fund. Angel investors as research subjects have received much less attention than venture capitalists, even though some estimates suggest that these investors are as significant a force for high-potential start-up investments as venture capitalists, and are even more significant as investors elsewhere. This study demonstrates the importance of angel investments to the success and survival of entrepreneurial firms. It also offers an empirical foothold for analyzing many other important questions in entrepreneurial finance. Read More
- 31 Mar 2010
- Working Papers
When Open Architecture Beats Closed: The Entrepreneurial Use of Architectural Knowledge
Entrepreneurial firms rich in knowledge but poor in other resources can use superior architectural knowledge of a technical system to gain strategic advantage over larger and better endowed rivals. This paper presents a model and provides examples showing that architectural knowledge can be applied strategically to change a firm's scope and boundaries, make innovations more or less autonomous, and change the span of problems it must solve. Read More
- 27 Jan 2010
- Working Papers
Labor Regulations and European Private Equity
Recent theoretical models predict that countries with stricter labor policies will specialize in less innovative activities due to the higher worker turnover frequently associated with rapidly changing sectors. HBS visiting scholar Ant Bozkaya and HBS professor William R. Kerr examine how differences in labor regulations across European countries influence the development of private equity markets, comprised of venture capital and buy-out investors. In so doing, the researchers provide the first empirical evidence for this theoretical prediction at the industry level in the entrepreneurial finance literature. They also make a methodological contribution by demonstrating how jointly modeling the different policies for providing worker insurance delivers more consistent results than their individual relationships would indicate by themselves. Read More
- 07 Dec 2009
- Research & Ideas
Government’s Positive Role in Kick-Starting Entrepreneurship
The U.S. government has spent billions of dollars bailing out troubled companies. Is it time for Uncle Sam to invest in new entrepreneurial firms as well? Professor Josh Lerner makes the case for limited government involvement in his book Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed—and What to Do about It. Read More
- 16 Nov 2009
- Research & Ideas
The Times Captures History of American Business
"We are not the first to face what seem like overwhelming challenges," says HBS professor and business historian Nancy F. Koehn. A new volume edited and narrated by Koehn, The Story of American Business: From the Pages of The New York Times, presents more than a hundred timely articles from the 1850s to today. Q&A and book excerpt. Read More
- 08 Oct 2009
- Working Papers
Clusters of Entrepreneurship
Economic growth is highly correlated with an abundance of small, entrepreneurial firms. This relationship is even stronger looking across industries within cities, and has been taken as evidence for competition spurring technological progress, product cycles where growth is faster at earlier stages, and the importance of entrepreneurship for area success. Any of these interpretations is possible, however, and the only thing that we can be sure of is that entrepreneurial clusters exist in some areas but not in others. This paper first documents systematically some basic facts about average establishment size and new employment growth through entrepreneurship, then analyzes entry and industrial structures at the region and the city levels using the Longitudinal Business Database. Read More
- 11 Sep 2009
- Working Papers
Financing Constraints and Entrepreneurship
Financing constraints are one of the biggest concerns impacting potential entrepreneurs around the world. Given the important role that entrepreneurship is believed to play in the process of economic growth, alleviating financing constraints for would-be entrepreneurs is also an important goal for policymakers worldwide. In this paper HBS professors William R. Kerr and Ramana Nanda review two major streams of research examining the relevance of financing constraints for entrepreneurship. They then introduce a framework that provides a unified perspective on these research streams, thereby highlighting some important areas for future research and policy analysis in entrepreneurial finance. Read More
- 11 Sep 2009
- Working Papers
Banking Deregulations, Financing Constraints and Firm Entry Size
How do financing constraints on new start-ups affect the initial size of these new firms? Since bank debt comprises the majority of U.S. firm borrowings, new ventures are especially sensitive to local bank conditions due to their limited options for external finance. Liberalization in the banking sector can thus have important effects on entrepreneurship in product markets. As HBS professors William Kerr and Ramana Nanda explain, the 1970s through the mid-1990s was a period of significant liberalization in the ability of banks to establish branches and to expand across state borders, either through new branches or through acquisitions. Using a database of annual employment data for every U.S. establishment from 1976 onward, Kerr and Nanda examine how U.S. branch banking deregulations impacted the entry size of new start-ups in the non-financial sector. This paper is closely related to their prior work examining how the deregulations impacted the rates of startup entry and exit in the non-financial sector. Read More
- 06 Aug 2009
- Working Papers
Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion
From Silicon Valley to Herzliya, Israel, venture capital firms are concentrated in very few locations. More than half of the 1,000 venture capital offices listed in Pratt's Guide to Private Equity and Venture Capital Sources are located in just three metropolitan areas: San Francisco, Boston, and New York. More than 49 percent of the U.S.-based companies financed by venture capital firms are located in these three cities. This paper examines the location decisions of venture capital firms and the impact that venture capital firm geography has on investments and outcomes. Findings are informative both to researchers in economic geography and to policymakers who seek to attract venture capital. Read More
- 24 Jun 2009
- Working Papers
Don’t Just Survive—Thrive: Leading Innovation in Good Times and Bad
The financial crisis provides a sobering reminder of what happens when innovation fails to drive productive economic growth. For over a decade, money from around the world poured into the United States seeking innovation. Despite these massive investments, when adjusted for inflation, U.S. GDP grew slowly with much of the growth coming from government, professional, and business services, including real estate and outsourcing. What's more, inflation adjusted wages stalled for many, even as consumer spending increased. This paper argues that innovation is not a side business to a real business: rather, innovation is the foundation of a successful business. Read More
- 18 May 2009
- Research & Ideas
The Unseen Link Between Savings and National Growth
Professor Diego Comin and fellow researchers find a little observed link between private savings and country growth. The work may offer a simple interpretation for the East Asia "miracle" and for failures in Latin America. Q&A. Read More
- 27 Apr 2009
- Research & Ideas
Building Businesses in Turbulent Times
An economic crisis is a charter for business leaders to rewrite and rethink how they do business, says Harvard Business School professor Lynda M. Applegate. The key: Don't think retrenchment; think growth. Read More
- 23 Feb 2009
- Research & Ideas
Creative Entrepreneurship in a Downturn
Entrepreneurs, take heart. True, the global economic malaise removes opportunities and precious resources—but also adds them in new and interesting ways, argues HBS senior lecturer Bhaskar Chakravorti. In this Q&A he identifies reasons for optimism, and shows how entrepreneurs can think differently about bad news. Read More
- 20 Feb 2009
- Working Papers
When Does Domestic Saving Matter for Economic Growth?
The researchers begin with a simply stated question: Can a country grow faster by saving more? Long-run growth theories imply that a country can grow faster by investing more in human or physical capital or in R&D, but that a country with access to international capital markets cannot grow faster by saving more. Domestic saving is therefore not considered an important ingredient in the growth process because investment can be financed by foreign saving. From the point of view of standard growth theory, the positive cross-country correlation between saving and growth that many commentators have noted appears puzzling. HBS professor Diego Comin and colleagues develop a theory of local saving and growth in an open economy with domestic and foreign investors. Read More
- 09 Feb 2009
- Research & Ideas
Uncompromising Leadership in Tough Times
As companies batten down the hatches, we need leaders who do not compromise on standards and values that are essential in flush times. Fortunately, such leaders do exist. Their insights can help other organizations weather the current crisis, says HBS professor Michael Beer. Q&A. Read More
- 02 Feb 2009
- Research & Ideas
The Success of Persistent Entrepreneurs
Want to be a successful entrepreneur? Your best bet might be to partner with entrepreneurs who have a track record of success, suggests new research by Paul A. Gompers, Josh Lerner, David S. Scharfstein, and Anna Kovner. Read More
- 04 Dec 2008
- Working Papers
Local Industrial Conditions and Entrepreneurship: How Much of the Spatial Distribution Can We Explain?
Some places, like Silicon Valley, seem almost magically entrepreneurial with a new start-up on every street corner. Other areas, like declining cities of the Rust Belt, appear equally starved of whatever local attributes make entrepreneurship more likely. Many academics, policymakers, and business leaders stress the importance of local conditions for explaining spatial differences in entrepreneurship and economic development. This paper uses data from the U.S. Census Bureau to characterize these entry relationships more precisely within the manufacturing sector. Read More
- 03 Dec 2008
- Working Papers
Performance Persistence in Entrepreneurship
All else equal, a venture-capital-backed entrepreneur who starts a company that goes public has a 30 percent chance of succeeding in his or her next venture. First-time entrepreneurs, on the other hand, have only an 18 percent chance of succeeding, and entrepreneurs who previously failed have a 20 percent chance of succeeding. But why do these contrasts exist? Such performance persistence, as in the first example, is usually taken as evidence of skill. However, in the context of entrepreneurship, the belief that successful entrepreneurs are more skilled than unsuccessful ones can induce real performance persistence. In this way, success breeds success even if successful entrepreneurs were just lucky. Success breeds even more success if entrepreneurs have some skill. Read More
- 21 Nov 2008
- Working Papers
Applicant and Examiner Citations in U.S. Patents: An Overview and Analysis
The ready availability of patent citation data has been a tremendous boon to applied research on knowledge and innovation. The role of examiners in the generation of patent citations has been thought to potentially complicate these analyses, but has been difficult to study. Taking advantage of a change in the way patent citation data has been reported starting in 2001, this paper summarizes basic facts on examiner citations, and provides a descriptive analysis of factors associated with citations in a patent. Read More
- 31 Oct 2008
- Working Papers
Technology, Identity, and Inertia through the Lens of ‘The Digital Photography Company’
Why do established firms find some technological change so challenging? While existing research has identified numerous sources of inertia in established firms exploring new technological domains, identity is a critical piece of the puzzle. As the core essence of an organization, identity directs and constrains action. The routines, procedures, capabilities, knowledge base, and beliefs of an organization all reflect its identity. So when a technology is identity-challenging to an organization—when pursuing it would violate the core beliefs of both insiders and outsides about what the firm represents—organizations face significant obstacles to adopting it. This study by Tripsas highlights the importance of recognizing and evaluating the tradeoffs associated with technological opportunity and organizational identity. Read More
- 16 Oct 2008
- Working Papers
Opening Platforms: How, When and Why?
It is crucial for firms that create and maintain platforms to select optimal levels of openness. Decisions to open a platform entail tradeoffs between adoption and appropriability, and opening a platform can spur adoption by harnessing network effects, reducing users' concerns about lock-in, and stimulating production of differentiated goods that meet the needs of user segments. At the same time, opening a platform typically reduces users' switching costs and increases competition among platform providers, making it more difficult for them to appropriate rents from the platform. This paper describes research on factors that motivate managers to open or close mature platforms. Read More
- 06 Oct 2008
- Research & Ideas
Updating a Classic: Writing a Great Business Plan
Harvard Business School professor William A. Sahlman's article on how to write a great business plan is a Harvard Business Review classic, and has just been reissued in book form. We asked Sahlman what he would change if he wrote the article, now a decade old, today. Read More
- 24 Jun 2008
- Working Papers
Bank Structure and the Terms of Lending to Small Businesses
Access to "soft information" and the greater sensitivity of decentralized banks to the local institutional environment can have both positive and negative consequences for small firms. Hence there may be a dark side to decentralized bank lending in certain instances. This paper argues that the same ability of decentralized banks to act on soft information also makes them more responsive to the local environment when setting terms of their loans. While this can be beneficial for small businesses in competitive markets, it also implies that the organizational structure of decentralized banks might allow them to better exploit their market power in concentrated banking markets by restricting credit or charging higher interest rates from small businesses. Read More
- 04 Feb 2008
- Research & Ideas
Putting Entrepreneurship in the Social Sector
Despite the best of intentions and trillions of dollars worth of assets, nonprofits have been unable to solve many of society's worst ills. A new casebook by 4 Harvard Business School professors argues that the social sector should take an entrepreneurial approach. Q&A with coauthor Jane C. Wei-Skillern. Read More
- 31 Jan 2008
- Working Papers
Peer Effects and Entrepreneurship
How do your coworkers affect your decision to become an entrepreneur? The vast majority of entrepreneurs launch their new ventures following a period of employment in established organizations. To date, factors such as the degree of bureaucracy that individuals have experienced have been shown to shape their likelihood to go into business for themselves. But socialization matters, too. Nanda and Sørensen show that the career experiences of coworkers shape both the information and the resources available to prospective entrepreneurs, as well as the value that individuals attach to entrepreneurial activity as a career choice. Read More
- 30 Jan 2008
- Working Papers
Cost of External Finance and Selection into Entrepreneurship
Entrepreneurs are, on average, significantly wealthier than people who work in paid employment. Research shows that entrepreneurs comprise fewer than 9 percent of households in the United States but they hold 38 percent of household assets and 39 percent of the total net worth. This relationship between personal wealth and entrepreneurship has long been seen as evidence of market failure, meaning that talented but less wealthy individuals are precluded from entrepreneurship because they don't have sufficient wealth to finance their new ventures. Nanda studied how changes in the cost of external finance affected the characteristics and likelihood of individuals becoming entrepreneurs. He finds that market failure accounts for only a small fraction of the relationship between personal wealth and entrepreneurship in advanced economies such as the U.S. Read More
- 28 Jan 2008
- Research & Ideas
Billions of Entrepreneurs in China and India
Entrepreneurship in both China and India is rising dramatically and thriving under quite different conditions. HBS professor Tarun Khanna explains what it all means in this Q&A about his new book, Billions of Entrepreneurs: How China and India Are Reshaping Their Futures and Yours. Plus: book excerpt. Read More
- 25 Jan 2008
- Working Papers
What Do Non-Governmental Organizations Do?
Non-governmental organizations play an increasingly important role in international development. They serve as a funnel for development funds both from individual donors in wealthy countries and from bilateral aid agencies. At the same time, NGOs are frequently idealized as organizations committed to "doing good" while setting aside profit or politics—a romantic view that is too starry-eyed. Development-oriented NGOs, which have existed for centuries, have played a growing role in development since the end of World War II; there are currently 20,000 international NGOs. This paper argues that the strengths of NGOs and their weaknesses easily fit into economists' conceptualization of not-for-profit contractors. Read More
- 07 Jan 2008
- Research & Ideas
Pursuing a Deadly Opportunity
- 05 Nov 2007
- Research & Ideas
The Changing Face of American Innovation
Chinese and Indian scientists and engineers have made an unexpectedly large contribution to U.S. technology formation over the last 30 years, according to new research by HBS professor William R. Kerr. But that trend may be ebbing, with potentially harmful effects on future growth in American innovation. Read More
- 13 Aug 2007
- Working Papers
Diasporas and Domestic Entrepreneurs: Evidence from the Indian Software Industry
Several recent studies have highlighted the important role that cross-border ethnic networks might play in facilitating entrepreneurship in developing countries. Little is known, however, about the extent to which domestic entrepreneurs rely on the diaspora and whether this varies systematically by the characteristics of the entrepreneurs or their local business environment. The Indian diaspora is estimated at over 18 million people spanning 130 countries. Given that formal institutions in India remain weak and hence the informal barriers to trade are higher, do diaspora networks serve as substitutes to the functioning of the local business environment? Do they help entrepreneurs to circumvent the barriers to trade arising from imperfect institutions? This study examines the extent to which software entrepreneurs within India vary in their reliance on expatriate networks. Read More
- 22 May 2007
- Working Papers
The Speed of New Ideas: Trust, Institutions and the Diffusion of New Products
Does trust confer competitive advantage in terms of time, money, and productivity? Previous research indicates that it does. This study shifts perspective slightly and asks whether trust can also act as a barrier to entry. In other words, are trusted suppliers protected from competition if buyers are reluctant to try new products and services offered by other suppliers? Oberholzer-Gee and Calanog explored the link between levels of trust and the decision to adopt a new product using a field experiment on the diffusion of an innovative floor drain for the plumbing market. Read More
- 03 Jan 2007
- Working Papers
Banking Deregulation, Financing Constraints and Entrepreneurship
What effect does an increase in banking competition have on the entry of start-ups? In particular, does an increase in banking competition have a differential effect on the entry of start-ups relative to the opening of new establishments by existing firms? The U.S. branch banking deregulations provide a useful laboratory for studying how banking competition affects small businesses. Prior to 1970, all but twelve states had stringent restrictions on the ability of banks to open new branches or to acquire the branches of other banks within the state; beginning in the 1970s and until 1994, all but two states removed these restrictions. In this research, Kerr and Nanda studied the entry of newly incorporated businesses between 1976 and 1999 using detailed data collected by the U.S. Census Bureau. Their findings matter for understanding how reforms that affect the financing environment may improve the real economy through the reallocation of resources in the non-financial sectors. Read More
- 29 Nov 2006
- Research & Ideas
Rich or Royal: What Do Founders Want?
It's a fundamental tension many entrepreneurs face, the conflict between wanting to become rich and wanting to keep control of their new company. Few can have both. Professor Noam Wasserman discusses his research into the motivations of entrepreneurs and the people who invest in them. Read More
- 09 Nov 2006
- Research & Ideas
Andy Grove: A Biographer’s Tale
Podcast: For Harvard Business School professor Richard S. Tedlow, Intel co-founder Andy Grove is one of the most important and intriguing CEOs in American business history. In this interview, Tedlow discusses his new biography, Andy Grove: The Life and Times of an American with Jim Aisner. Read More
- 11 Oct 2006
- Research & Ideas
The Success of Reverse Leveraged Buyouts
RLBOs have a bad rap, but Josh Lerner says the reputation is not deserved. Studying almost 500 private equity-led IPOs over a 22-year period, Lerner and co-researcher Jerry Cao conclude that reverse leveraged buyouts in general outperformed other IPOs and the market as a whole. Quick flips, however, are another story. Read More
- 05 Sep 2006
- Working Papers
International Financial Integration and Entrepreneurship
Why does entrepreneurship flourish in some countries and struggle in others? Economists and policymakers are divided on whether the rapid rate of global financial integration, specifically the explosive growth of foreign direct investment, helps or hurts local entrepreneurs and domestic economies. To see the differential effects of restrictions on capital mobility on entrepreneurship, Alfaro of HBS and Charlton of the London School of Economics analyzed data on 24 million firms—listed and unlisted—in nearly 100 countries in 1999 and 2004. Read More
- 24 Jul 2006
- Research & Ideas
How Kayak Users Built a New Industry
Customers have produced some of the most important innovations in industries ranging from oil refining to scientific instruments. But how do user innovations take place? How do they get to market? Professor Carliss Baldwin discusses research into the rodeo kayak industry to understand the world of user innovation. Read More
- 15 May 2006
- Lessons from the Classroom
Women Find New Path to Work
Professor Myra Hart's New Path program helps Harvard Business School alumnae re-enter the work world. Here is a look at what participants learned about life, work, and the quickly changing world of business. Read More
- 20 Feb 2006
- Research & Ideas
Are Company Founders Underpaid?
Company founders have a tough time convincing their boards to increase compensation, says HBS professor Noam Wasserman. He discusses his research into "founder frustration" areas. Read More
- 30 Jan 2006
- HBS Cases
The Case of the Mystery Writer’s Brand
- 05 Dec 2005
- Research & Ideas
VCs Survey Post-Bubble Opportunities
- 14 Nov 2005
- Research & Ideas
How Can Start Ups Grow?
For new ventures a lack of resources makes growth difficult to come by—just ask those nine out of ten fledgling firms that fail. Professor Mukti Khaire says the key may be in acquiring intangible resources such as legitimacy, status, and reputation. Read More
- 15 Aug 2005
- Research & Ideas
The Founding CEO’s Dilemma: Stay or Go?
Bill Gates and Larry Ellison are rare birds. In this interview by HBS senior lecturer Mike Roberts for New Business, professor Noam Wasserman explains how and why many founding chief executives find themselves replaced. Read More
- 02 May 2005
- Research & Ideas
Four VCs on Evaluating Opportunities
- 21 Mar 2005
- Research & Ideas
Lessons of Successful Entrepreneurs
- 13 Sep 2004
- Research & Ideas
Cash and the Woman-Owned Business
- 16 Aug 2004
- Research & Ideas
Luxury Isn’t What It Used to Be
- 05 Jul 2004
- Research & Ideas
Radical Change, Entrepreneurial Opportunity
A key to exploiting radical technological change is to clear your vision of historical constraints and see new opportunities with a fresh perspective. Michael J. Roberts interviews HBS professor Mary Tripsas. Read More
- 12 Apr 2004
- Research & Ideas
What Great American Leaders Teach Us
A new database on great American leaders offers surprising insights on the nature of leadership. A Q&A with Tony Mayo, executive director of the Harvard Business School Leadership Initiative. Read More
- 26 Jan 2004
- Research & Ideas
How Women Can Get More Venture Capital
What is it like today for women entrepreneurs in their quest for venture capital funding? In an interview, professor Myra M. Hart shares her latest research and ideas. Read More
- 29 Sep 2003
- Research & Ideas
Pride Goeth Before a Profit
- 04 Aug 2003
- Research & Ideas
Shackleton: An Entrepreneur of Survival
Polar explorer Sir Ernest Shackleton is the subject of a new HBS case study. Professor Nancy F. Koehn discusses lessons for leaders from the voyage of the Endurance. Read More
- 17 Feb 2003
- Report from the Field
Tales of the Newly-minted MBA
- 18 Nov 2002
- Research & Ideas
Enterprising Women—a History
- 17 Jun 2002
- Research & Ideas
A Litmus Test for Entrepreneurs
- 22 Apr 2002
- Lessons from the Classroom
Entrepreneurship: It Can Be Taught
Highlights from a discussion with HBS professors Howard Stevenson, Richard Hamermesh, and Paul Marshall (moderated by Mike Roberts) on teaching entrepreneurship at HBS. Read More
- 17 Dec 2001
- Research & Ideas
Becoming the Next Real Estate Mogul
- 17 Dec 2001
- Research & Ideas
Enterprising Women
- 01 Oct 2001
- Research & Ideas
Organizing the Family-Run Business
- 24 Sep 2001
- Research & Ideas
How To Be an Angel Investor
- 04 Sep 2001
- Research & Ideas
Governing the Family-Run Business
- 23 Jul 2001
- Research & Ideas
Sam Walton: Great From the Start
- 16 Apr 2001
- Research & Ideas
Angels Face the Innovator’s Dilemma
- 19 Mar 2001
- Research & Ideas
Want to Be an Entrepreneur? [Part I]
- 12 Mar 2001
- Research & Ideas
Digital Designs on the Inner City
- 12 Mar 2001
- Research & Ideas
Group Therapy
- 12 Feb 2001
- Research & Ideas
Creating Value Across Borders
- 02 Jan 2001
- Research & Ideas
Gurus in the Garage
- 30 Oct 2000
- Research & Ideas
The Entrepreneurial Venture: A Conversation
Twenty-five years after graduation, four members of the HBS Class of '75 reflect on the enterprising spirit that has characterized both their generation and their own careers. Read More
- 10 Jul 2000
- Research & Ideas
Entrepreneurship in Europe
- 30 May 2000
- Lessons from the Classroom
Entrepreneurship’s Wild Ride
Entrepreneurship's rise as a business phenomenon has occurred side-by-side with its emergence as a centerpiece of modern business education. In this conversation with Mike Roberts, Executive Director of Entrepreneurial Studies at HBS, Professor Howard Stevenson reflects on how academic inquiry has affected entrepreneurial practice and how scholars can learn from today's entrepreneurs. Read More
- 30 May 2000
- Research & Ideas
Market Makers Bid for Success
- 15 Feb 2000
- Research & Ideas
The Right Connections
- 12 Oct 1999
- Research & Ideas