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Diversification strategy is an important driver of organizational conduct and performance. Despite its recognized linkage to other strategy-making elements, such as corporate entrepreneurship, research has devoted minimal attention to explicitly investigating relationships among diversification, corporate entrepreneurship and performance elements. This study contributes to a better understanding of diversification strategy driven corporate entrepreneurship and performance by testing a normative model on a sample of 449 Slovenian firms. The findings demonstrate that single business and vertical diversification make some difference in organizational growth and profitability in terms of their direct effects, but not indirectly with the mediation of corporate entrepreneurship strategy-making elements, which can be independently of diversification important for performance improvement.

Risk taking is important for entrepreneurship in existing organizations (intrapreneurship). This study contributes to intrapreneurship theory by explaining a paradoxical nature of translation of individual level risk aversion into organizational level risk taking behavior. A model for examination of this risk taking paradox in intrapreneurship is developed on the basis of intrapreneurship "theory," theory of planned behavior, prospect theory, agency theory and organizational culture perspective. A set of propositions is developed linking risk-related cognitions, behaviors and their antecedents. A model of risk taking in intrapreneurship is discussed here on the basis of propositions, and implications for research and practice.

Past intrapreneurship research has mainly focused on a firm internal environment and its beneficial and impeding effects on intrapreneurship. This study extends previous theory of intrapreneurship by recognizing that intra-firm-based organizational processes need to be complemented by inter-firm processes. Propositions are developed highlighting relationships between intrapreneurship and its predictors. The following organizational characteristics that influence intrapreneurship are proposed: intra-firm and inter-firm communication, formal controls and trust, organizational support and values, environmental scanning, and network characteristics.

When involved in entrepreneurship activities, the competencies of entrepreneurs are made tangible as entrepreneurs interact with their environment. This study focuses on a framework for entrepreneurial competencies. The entrepreneurial competencies held by entrepreneurs are explored from the perspectives of conative, social, and cognitive competencies. The multidimensional construct of entrepreneurial competencies is extended based on these perspectives, past studies, and an empirical study that uses data concerning entrepreneurs in China. This study contributes to science by developing a three-component construct of entrepreneurial competencies that has four elements (cognitive–education, cognitive–experience, conative, and social).

AbstractThis study uses a structural equation modeling technique to predict the internationalization of small and medium‐sized enterprises (SMEs) from the entrepreneur's human capital (dimensions: international business skills, international orientation, environmental perception, and management know‐how). While international orientation and environmental risk perception predicted internationalization, international business skills and management know‐how did not. The implications of these findings for research and practice are discussed. Copyright © 2007 ASAC. Published by John Wiley & Sons, Ltd.

In most developing countries, small and medium-sized enterprises (SMEs) are an essential segment of the economic composition and crucial players for fostering innovation, growth and prosperity. Despite wide agreement among researchers in entrepreneurship and SME management that entrepreneurial and general self-efficacy can positively impact business formation and growth, one aspect of entrepreneurial self-efficacy, i.e., financial self-efficacy, has not been linked to SME performance in terms of SME profitability and growth, or satisfaction of the entrepreneur with their company. This study fills this research gap by uncovering new knowledge about the relationship between the financial self-efficacy of the entrepreneur and elements of SME performance. Data were collected through a structured questionnaire in one European country. Hypotheses were conceptually developed and checked using regression analysis. The results of this research reveal new knowledge about the relationship between financial self-efficacy and performance. The entrepreneur's financial self-efficacy can matter for the profitability of SMEs, as well as for the growth and satisfaction of micro-SMEs and certain differently defined groups of entrepreneurs or companies.

This study addresses a certain research issue: how do the Big Five personality traits of managers of small and medium-sized enterprises (SMEs) impact the business performance of companies? A representative random sample of managers of SMEs in Slovenia was used for data collection through survey research. Hypotheses and the model were tested using structural equation modeling. A valuable contribution is made in the form of a new model of Big Five personality induced SME growth, profitability and new value creation. Openness of managers can be predictive of growth and new value creation of their companies, with the new value creation impact especially expressed in female-managed companies. Conscientiousness may not be crucial for performance, except for new value creation in females where this relationship can be negative. Extraversion can predict the growth and profitability. Agreeableness can have negative effects on all performance elements. Neuroticism can be predictive of growth and profitability. Practitioners must be aware of the importance of managers' Big Five personality traits for SME performance. Where possible, managers may like to develop their levels of openness, extraversion, non-agreeableness and neuroticism.

Entrepreneurial self-efficacy can have positive effects on entrepreneurship, company start-ups, and business growth. The family business environment has not yet been studied in relation to financial-self efficacy, a dimension of entrepreneurial self-efficacy. In order to address this research gap, this paper focuses on financial self-efficacy and how it relates to its antecedent — the family business environment. This study contributes to a better understanding of how financial self-efficacy has developed in the family business environment by building and checking a normative model. A hypothesis about family business environment experience and the financial self-efficacy relationship was developed and empirically tested using survey data from two countries. The findings of this research reveal the family business environment can make a difference in financial self-efficacy in certain economic contexts.

The personality of entrepreneurs can have a large influence on entrepreneurial startups. The general locus of control, which is an element of the personality of entrepreneurs, is considered to be critical for the creation of entrepreneurial startups. Despite the generally acknowledged importance of one's locus of control for entrepreneurial intentions and new firm startups, a research gap exists because less emphasis has been given to external locus of control, in particular chance control. Chance non-control can be defined as a person's disbelief in chance- or luck-based outcomes. In this study, a country-moderated hypothesis about the relationship between a person's chance non-control and his or her entrepreneurship (activities or intentions) was developed and empirically tested by using data collected through a structured questionnaire from 645 students in three countries (China, Finland and Slovenia). Regression analysis was used to test the hypothesis. Based on the findings, which are partially in support of the moderated hypothesis, recommendations for research and practice are proposed. The key contribution of the study is the explanation of the role of chance non-control in entrepreneurship and the notion the relationship between chance non-control and entrepreneurship tends to be moderated depending on uncertainty avoidance.

The personal characteristics of entrepreneurs can be importantly related to entrepreneurial startup intentions and behaviors. A country-moderated hypothesis including the relationship between an individual's risk-taking propensity and entrepreneurship (behaviors or intentions of the person) was conceptually developed and empirically tested in this study. The data collection was performed through a structured questionnaire. Multinominal logistic regression was used for analyzing data obtained from 1,414 students in six countries. The crucial contribution of this research is the clarification of the character of risk-taking propensity in entrepreneurship and the indication that the risk-taking propensity-entrepreneurship relationship can be moderated contingent on power distance.