@misc{RoederUrbigStoeckmannetal., author = {R{\"o}der, Martin and Urbig, Diemo and St{\"o}ckmann, Christoph and B{\"o}nte, Werner and Procher, Vivien D.}, title = {There's no fox like an old fox: Dimensions of entrepreneurial orientation and venture closure}, series = {26th Annual Interdisciplinary Conference on Entrepreneurship, Innovation and SMEs, 2023}, journal = {26th Annual Interdisciplinary Conference on Entrepreneurship, Innovation and SMEs, 2023}, abstract = {Only a few scholars examined downsides of EO and suggest it may negatively affect survival. Previous research, which mainly focuses on mature companies, assumes that the relationship between EO and survival is constant. However, because firm characteristics and causal mechanisms change as young venture survive and grow into mature firms, the relationships between EO and survival could also change over time. We extend the EO literature by considering changing EO effects when venture grow into mature firms and by employing a multidimensional view on EO and identify isolating independent mechanisms for the influence of each dimension (i.e. innovativeness, proactiveness and risk-taking) on the survival of young ventures. While the nature of proactiveness on performance is rathe positive, risk-taking and innovativeness increases the variance of firm performance and thus the chances of failure. However, the latter can be separated according to whether the increase in variance occurs at a single point in time (risk-taking) or over time (innovation) and whether the survivors have more money or more innovations. For young firms, innovativeness and risk-taking inhibit survival, while proactiveness promotes it, so the dimensions have divergent effects. As a consequence of the attrition of young ventures, the associations of innovativeness and risk-taking reverse when they grow older. Our empirical analyses are based on panel data of 8,518 young firms.}, language = {en} } @misc{StoeckmannKensbockUrbig, author = {St{\"o}ckmann, Christoph and Kensbock, Julia and Urbig, Diemo}, title = {Synthesizing a new conceptual and empirical understanding of ambidexterity and its effects on firm performance}, series = {26th Annual Interdisciplinary Conference on Entrepreneurship, Innovation and SMEs, 2023}, journal = {26th Annual Interdisciplinary Conference on Entrepreneurship, Innovation and SMEs, 2023}, abstract = {Ambidexterity is a wide-established and popular construct that promises to combine two seemingly opposing strategic actions—exploration and exploitation—for higher firm performance. Nevertheless, the (apparently peaceful) coexistence of two different conceptions of ambidexterity hampers a unified theoretical and empirical understanding in the field. This study introduces a new conceptual framework to study ambidexterity and its effects on firm performance. We propose that firms need to overcome two distinct types of trade-off—a trade-off in effects and a trade-off in implementing exploration and exploitation. If firms manage to be ambidextrous in effects and ambidextrous in implementing, they will achieve what we consider a higher-order synergetic ambidexterity. In addition to our theoretical framework, we provide an empirical illustration based on a commonality analysis. Our findings demonstrate how (a) independent effects of exploration and exploitation, (b) interaction effects of exploration and exploitation (representing ambidexterity in effects), and (c) shared effects of exploration and exploitation (representing ambidexterity in implementing) separately and jointly contribute to higher firm performance. We find that the highest effect on firm performance can be observed when firms are both ambidextrous in effects and ambidextrous in implementing.}, language = {en} }