@misc{RoederProcherUrbig, author = {R{\"o}der, Martin and Procher, Vivien D. and Urbig, Diemo}, title = {Not all Innovations are Alike: Who Should Receive Public Grants?}, series = {Academy of Management Annual Meeting Proceedings}, volume = {2022}, journal = {Academy of Management Annual Meeting Proceedings}, publisher = {Academy of Management}, issn = {2151-6561}, doi = {10.5465/AMBPP.2022.16657abstract}, abstract = {As innovation policy targets innovations suffering from underinvestment, we examine the effect of public grants on innovation. While innovation involves a lot of uncertainty, we suggest public grants as the best option bearing no obligations. But not all innovations are alike as they differ by newness level. Hence, we distinguish between ""new-to-world"" explorative and ""new-to-firm"" explotation innovation. Making use of (inter)national knowledge flow, some exploitative innovations are not ""new-to-firm"" but rather ""new-to-region or -country"" leveraging existing knowledge from another region or country. Allocating grants to the most promising startups, we evaluate startups' quality by high-tech industry and ""entrepreneurial orientation"" (EO). Within over 4,000 early-stage German startups, we find that explorative innovations benefit the most from grants, especially high EO startups. Also, grants help low EO firms to become innovative at all and to launch exploitative innovation with (inter)national knowledge flow.}, language = {en} } @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} }