Hana Milanov

Technical University of Munich | TUM · Entrepreneurship Research Institute

Although most business-owning families (BOFs) that operate large family firms practice community social engagement both in private via family foundations and in the business domain via community corporate social responsibility (CSR) programs, the relationship between their activities in the two domains remains unclear. Prior literature speculates t...

This article theorizes and empirically investigates how status and provocative language influence audience engagement with new-venture posts on social media platforms. Using venture capital funding as a status proxy, we analyzed 369,142 Twitter posts by 268 new ventures. We found that status (1) increases engagement with ventures' tweets, and that...

This article theorizes and empirically investigates how status and provocative language influence audience engagement with new-venture posts on social media platforms. Using venture capital funding as a status proxy, we analyzed 369,142 Twitter posts by 268 new ventures. We found that status (1) increases engagement with ventures’ tweets, and that...

Crowdfunded microfinance provides financial resources to impoverished entrepreneurs across the globe based on online appeals describing the entrepreneur’s values and venture potential and is considered a key player in the ethical finance movement. Despite knowledge that the content of the appeals impacts funding success, little is known regarding t...

Recurring critiques of the entrepreneurship literature include that it is steeped in a positive, monetary, and gender-biased discourse. However, these critiques are generally not based on quantitative evidence. We apply computer-aided text analysis to evaluate how the language in the leading entrepreneurship journals compares to that of other corpo...

Research Summary Although reward-based crowdfunding is lauded for its promise to democratize funding for innovation, claiming innovation in campaign texts has an ambiguous link to crowdfunding performance. We draw from Expectancy Violations Theory (EVT) and, in a field study of 2,185 Kickstarter campaigns, find that innovation claims yield better f...

This inductive, multiple-case study advances scholarly understanding of resourcefulness by examining the combination of resource mobilization behaviors over time, and associated performance outcomes, within seven early-stage medical technology ventures in the relatively resource-scarce context of Kampala, Uganda. Our analysis reveals two resource m...

Drawing on a rich stream of sociological research, scholars of status have made important contributions to understanding of entrepreneurial phenomena. This article summarizes the extant thinking on status and introduces its definition, in order to discuss the relevance of the concept for scholars of entrepreneurship as well as, ways to operationali...

Networks are important for a range of entrepreneurial outcomes. However, literature often makes implicit assumptions about the immediate benefits of network size for venture performance. Building on Status Expectation State Theory and network perspective, we argue that female entrepreneur’s legitimacy is an important consideration in understanding...

While the importance of strategic alliances for new venture internationalization is well acknowledged, the effect of domestic partners remains less understood. Building on organizational learning theory’s vicarious learning arguments, we suggest that the number of internationally experienced domestic partners positively influences new ventures’ int...

While the importance of strategic alliances for new venture internationalization is well acknowledged, the effect of domestic partners remains less understood. Building on organizational learning theory’s vicarious learning arguments, we suggest that internationally experienced domestic partners positively influence new ventures’ international inte...

he current view of network emergence is predominantly influenced by path-dependent mechanisms where immediately preceding network structures inform current network positions. However, less explored is the ongoing sensitivity of future network positions to the composition and structure of newcomers' first partnerships. Building on the social categor...

Using an organizational learning perspective, we link the decision by venture capital (VC) firms to invest early in a new high-technology industry to three experiential learning mechanisms: the familiarity associated with accumulation of early funding decisions, the shaping or imprinting effect of the firm’s very first such decision, and the decay...

This study examines the syndication of investments novel to a VC firm as a function of the firm's need and opportunity to do so. We distinguish two types of uncertainty that firms face when considering novel investments: egocentric, pertaining to making the right decisions, and altercentric, pertaining to being evaluated as a potential partner on t...

The application of social network analysis to interorganizational contexts has seen an explosion of interest in the past several years. We argue that not only does the network or structural perspective add explanatory power to scholarly understanding of organizations' behavior and outcomes, but that it expands the universe of observed phenomena fro...

Given the importance of network status, this study seeks to understand how newcomers - young organizations entering inter organizational networks - attain such privileged positions. Drawing on literature in imprinting and network theory, we develop a model and hypotheses regarding the direct and moderating effects of the newcomer's ego-network char...

Given the argued importance of networks to new ventures, this paper is intended to fill a noted gap in the literature pertaining to the factors that influence the evolution of new ventures' alliance networks. Drawing on the imprinting literature, we propose that one has to look beyond the first partner per se, and instead focus on the extant relati...

In the current understanding of inter-firm alliances, firms form alliances when they need additional resources or when they have the opportunity to know and attract potential partners. Existing studies tend to focus on the general likelihood or rate of alliance formation of particular firms without regard for the particular projects for which allia...

This IEEE InfoVis 2005 Contest submission addresses all four con-test questions. Diverse data analysis and visualization techniques were applied to the Technology Data in the US data set to (1) un-derstand the birth, growth, and death of companies over the 15 year time span, (2) the geospatial distribution of different indus-tries in US, (3) the co...

In the United States, venture capitalists (VCs) played an important role in supporting innovative companies and establishing emerging industries. Consequently, much of the literature on VCs is characterized by a Western bias. However, faced with crowding markets in the home territory, Western VCs have joined the internationalization wave and became...

In the United States, venture capitalists (VCs) played an important role in supporting innovative companies and establishing emerging industries. Consequently, much of the literature on VCs is characterized by a Western bias. However, faced with crowding markets in the home territory, Western VCs have joined the internationalization wave and became...

Failure is an important component of entrepreneurial endeavors which has been given disproportionately little attention in the entrepreneurship literature, and especially in the venture capital context. This is unfortunate, because experiencing failure can open possibilities for significant learning, which can improve likelihood of future success....

This study suggests a theoretical complement to thus far proposed explanations of disproportionate returns in the venture capital industry. Departing from a focus on firm-specific resources, we develop a model and simulate a process of hierarchical market allocation, in which the most promising ventures are allocated to venture capital firms (VCFs)...

Given the importance of network status, this study aims to develop a richer understanding of how industry network characteristics, specifically network density and structural differentiation, influence status of the organizations entering the industry network. I develop a model including the direct and moderating effects of the industry’s network o...