Pankaj C. Patel's research while affiliated with Villanova University and other places

Publications (288)

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This conceptual study provides insight into the strategic behaviors of firms facing slow growth in times of economic stagnation. Recognizing the inevitability of periods of economic stagnation—with another downturn expected as early as 2022, we note that most industry classifications are considered mature and characterized by a few extremely large...
Article
The exponentially growing literature on Industry 4.0 technologies and their implications for supply chains exhibits valuable insights alongside considerable fragmentation. While prior systematic literature reviews (SLRs) started to consolidate the literature, an SLR that simultaneously (a) covers several core technologies of the Industry 4.0, (b) s...
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We use a quasi-natural experiment based on the 2005 Domestic Production Activities Deduction (DPAD) to test whether the benefits of tax incentives for domestic production are conditional on firm-level productivity. In a sample of 7,141 firms (48,921 firm-years from 1996 to 2012), we find no direct effect on operational performance, ROA, in the foll...
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Although it seems almost a stylized fact that females are less likely than males to start new ventures, closing this gender gap is essential to foster sustainable economic growth. In this study, we analyze whether gender inequality, as measured at the country level by the World Economic Forum since 2006, is associated with the gender gap in entrepr...
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Heterogeneity and complicated processes, risk of information leakage, and higher costs are some of the challenges that stem from third-party involvement in business transactions. This study proposes a novel mechanism to address the shortcomings of third-party-dependent transactions in the context of international trade. Moreover, we provide busines...
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Drawing on evolutionary realism as a guiding framework and using relevant theoretical bases at macro- (country-), meso- (industry-), and micro- (firm-) levels, we investigate the relative variance explained by each level on selection (non-economic performance) and retention (decertification) of Benefit Corporations (B-Corps). Based on a sample of 5...
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Complementing recent studies supporting a variety of associations between self-employment and biological outcomes associated with stress, physical wear and tear, and aging, we examine the relationship between self-employment and aging. In a sample of 6088 participants from the National Health and Nutrition Examination Survey (NHANES) data, we find...
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Drawing upon the literatures on threat rigidity, the resource-based view of the firm, and investment efficiency, we study the relationship between store underexpansion and retailer profitability. We conceptualize underexpansion as a strategy that can encourage a retailer to operate consistently fewer and smaller stores compared to those expected ba...
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Logistics and supply chain management (SCM) practice has grown in scope and complexity in recent years. A challenge for research in logistics and SCM is to create value for both academics and practitioners. The purpose of this paper is to introduce interactive research (IR) into the domain of logistics and SCM research and to describe the lessons l...
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Inevitable disclosure doctrine (IDD) refers to a legal doctrine where an employer can claim, without the need for proof or evidence, misappropriation of trade secrets to seek an injunction against an employee. Based on entrepreneurial spawning literature, for employees seeking to start their ventures, IDD rejection by state courts could therefore b...
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Blending conceptual framing from the CEO-TMT interface literature with upper echelons decision-making theory, we develop a model of the role of CEO narcissism and narcissism in the upper echelons. We argue that narcissistic CEOs tend to have higher narcissism in their Top Management Teams (N-TMTs). In turn, TMTs characterized by narcissism can bene...
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Pay secrecy policies restrict employees from discussing pay and compensation with their co‐workers. In addition to the federal law, 11 US states have enacted additional laws further reinforcing the ban on pay secrecy. Recent evidence shows that state pay secrecy bans lower wage gap for females and increase earnings of managers by a small amount. In...
Preprint
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Data collected through the National Expert Survey (NES) of the Global Entrepreneurship Monitor (GEM) are widely used to assess the quality and impact of national entrepreneurial ecosystems. By focusing on the measurement of the National Entrepreneurship Context Index (NECI), we argue and show that the subjective nature of the responses of the natio...
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Drawing on the World Economic Forum’s goals of inclusive growth, we analyze whether globalization imbues confidence to engage in entrepreneurship in countries at different stages of economic development. We focus on the association between globalization and three core perceptions about entrepreneurship—the perceived presence of good opportunities t...
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Benford's law states that in collections of numbers, the leading digit is likely to be small. Drawing on this law, which is a widely used tool in forensic accounting, we ask whether small and medium‐sized enterprises (SMEs) that violate Benford's law on the reporting of key accounting items are more likely to fail. Using a sample of 220,583 Portugu...
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Deterministic learning is less feasible in high-noise and low-signal entrepreneurship contexts. The empirical evidence on serial entrepreneurs having an advantage over novice entrepreneurs is mixed. Entrepreneurs learn by lowering high noise (w) and increasing the fidelity of a learning outcome (θ). We draw on Jovanovic and Nyarko’s (1995) Bayesian...
Article
Though pivoting is widely practiced by entrepreneurs, an optimal stopping rule in pivoting remains unexplored. Proposing an optimal foraging model and accounting for competition in exploiting an opportunity, we identify an optimal stopping rule of 30% gain‐to‐loss ratio. That is, additional gains are less feasible when 70% of the pivoting across fu...
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Drawing on minority enclave theory and resilience theory in entrepreneurship, we test whether, with the onset of the COVID-19 pandemic, the self-employed lost more hours than the employed and whether traditionally disadvantaged self-employed racial minorities faced harsher penalties in the form of reduced hours of work. Though spatially concentrate...
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Within the next decade, the number of self-employed workers, now 40% of the workforce, is predicted to surpass that of traditional employees. Managing finances (financial literacy) is an important skill set for self-employment. We bring attention to the growing prevalence of self-employment at a time when financial literacy is in decline in the Uni...
Article
Knowledge Integration (KI) or the capability to collate and process distinctive stocks of organizational information is central to innovation. Although an essential capability, KI is also challenging to accomplish in practice due to relational obstacles. The relational obstacles arise because of knowledge boundaries: (a) syntactic boundary where th...
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Drawing on gender role theory and the extant research on gender and financing, we investigate the extent to which gender of the borrower and the gender egalitarianism practices dimension of the borrower’s societal culture interact to influence the amount of funding received in a microlending context. Using single-person project data from Kiva, a gl...
Chapter
Research suggests firms with lower pollution rates realize higher asset values. This can enable acquirers to generate value by transferring green capabilities to polluting targets through the market for corporate control. Green capabilities (a firm’s efficiency in converting environmental related inputs into environmental performance) help decrease...
Article
Using public administration theory, we examine whether professionalized or closed bureaucracy are associated with individual participation in startups and whether these associations are contingent on the level of economic development of a country. We use a novel cross-national 2015 dataset of bureaucratic structures and a sample of 106,818 individu...
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How do ventures manage adjustment costs, input elasticities, and productivity growth? We draw on the intertemporal production decisions of ventures that are quasi-fixed, costly to adjust, and endogenous. Using a modified version of the Bayesian Exponentially Tilted Empirical Likelihood (BETEL) method adjusted for the presence of dynamic latent vari...
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The relationship between entrepreneurship and economic development is studied widely in academic research and is of interest to policymakers. A majority of past studies have focused on the association between country-level entrepreneurship and gross domestic product (GDP), though more recently, studies have also focused on associations between stat...
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Building upon Hayek’s seminal work regarding the benefits of market decentralization, in this study, we examine the complementary role of an individual’s secular values in further explaining the association between decentralization of economic affairs, entrepreneurial activity, and self-employment. We argue that studies on Hayek’s notion of decentr...
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Nearly every industry classification is experiencing slow growth and increasing concentration. Seldom do researchers have an opportunity to observe an emerging industry segment with as much promise as the smart home ecosystem, an exponentially growing industry. The study presents a novel approach using industry life cycle model and a coopetition fr...
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Manufacturers are increasingly struggling with the transition from products to product-service-software systems. Our study takes stock of the current research on servitization and digital servitization to investigate the challenging transition process from product to more complex product-service-software systems. We examine how does the digital ser...
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Studies of the global corporate elite have shown how networks of board interlocks form among large companies around the world. With interest in the conditions for businesses in the periphery, this exploratory study describes differences in regional board networks by comparing remote and central regions in Sweden. The regions share national culture,...
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B Corps are firms certified by the non-profit B Lab for pursuing both economic and non-economic goals. Whether B Corps realize a higher financial performance has met mixed evidence. Drawing on the stability-change framework, we ask whether B Corp certification is associated with the level and volatility of financial performance. Also, expecting a g...
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Considerable research finds that entrepreneurs enjoy higher subjective well-being than wage-earning employees. At the same time, entrepreneurship is uniquely stressful for founders, who generally have high levels of personal commitment to the business and often higher workloads than wage employees. This highlights a tension in entrepreneurship rese...
Article
In this research, using a capability perspective, we first define innovation based, strategic flexibility (ISF) as consisting of three lower-level capabilities- market sensing,resource reconfiguration, and proactiveness; then link it to new-product/innovation outcomes, and develop a new metric of ISF that is input-output based. This metric captures...
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We present evidence on the long-term relationship between the breadth (the proportion of households) and depth (the amount per household) of public assistance and the prevalence of self-employment in US neighbourhoods. The analysis of decennial data of 71,437 census tracts over four decades (1970 to 2000) shows that the poverty ratio lowers self-em...
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The effects of opioid abuse on health are widely documented, however, its effects on labor market outcomes have only recently become a topic of scientific inquiry. Whereas recent economic studies focus on various measures of labor market participation, the present study analyzes whether opioid prescription rates are associated with the impetus for...
Article
Although inventor CEOs drive firm innovation, widely recognized CEO abilities—general ability or managerial ability—could be central to leveraging CEOs’ invention abilities to drive firm innovation. Using CEO copatentors’ invention ability (defined as CEO patent coauthors’ average number of forward citations over the average number of patents) as a...
Article
According to a classical Hayekian proposition, bottom‐up systems governed by local institutions are better at combining knowledge and allocating resources to promote entrepreneurship. Exploiting the staggered adoption of recentralization (or reversal of decentralization) from municipality to canton in 19 of the 26 Swiss cantons between 2000 and 201...
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We propose the conceptualization of cultural interconnectedness in a supply chain network. As a multiplex network structure, cultural interconnectedness refers to the extent of inter-linking in organizational cultures of supply chain members. Complementing ongoing research on supply chain networks, we propose and test the effects of cultural interc...
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We investigate whether financial constraints impair the performance of SMEs and possibly lead to firm failure. More importantly, we address the question of whether family SMEs fare better in terms of performance and survival when operating under financial constraints. We draw on data covering 2,475,210 firm-year observations from 458,025 firms and...
Article
Drawing on a sample of Small Business Administration (SBA) loans, we develop and test for a two‐sided dynamic learning model to assess the degree of learning‐by‐lending in bank branches and learning‐by‐repaying for borrowers. The results show that learning‐by‐lending is negligible; however, learning‐by‐repaying is small but meaningful, with a shall...
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Drawing on the resource-based view (RBV) of the firm and the top management team (TMT) structural power framework, we investigate the relationship between Chief Information Officer (CIO) structural power and forward-looking firm performance. In addition, we examine the contingency roles of market turbulence, industry IT intensity, and operating eff...
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Although recent evidence has found support for the importance of social media in communicating specific messages between venture founders and their target audience, there remains a relative paucity of research regarding how specific temporal elements of social media activity are related to key venture development outcomes. In this context, the curr...
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A growing body of conceptual and empirical research has drawn on transactive memory systems (TMS) theory to understand the functioning of a wide range of teams, including top management teams (TMTs). At the same time, there has been increasing interest in how personality factors, and in particular chief executive officer (CEO) narcissism, shape cor...
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We exploit the 20 September 2012 intervention on Kickstarter where projects in the Hardware and Project Design categories, but not in other categories, were prohibited from presenting simulations and renderings in their crowdfunding campaigns. Using a partition-type analysis estimate for 110,258 projects, we find that the intervention lowered the o...
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There is a growing debate on whether food establishment hygiene inspections are effective. Drawing on the Kano model, hygiene may be a ‘satisfier’ but may not be a ‘delighter,’ and therefore consistent with recent research, high-scoring food establishments will have a limited incentive to improve their hygiene score. However, based on the Kano mode...
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Over the past decade, the rise of blockchain technology has led to the emergence of a growing number of decentralized platforms that are governed less by platform owners and more through community efforts. The emergence of blockchain platforms offers a unique opportunity to examine alternative structures for platform governance and to develop a the...
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Exploiting the interstate branching restrictiveness law that allowed states to erect barriers to branch expansion, we test whether increased interbank competition increases risk-bearing, proxied by higher loan default, for third-party loan guarantors. We find that Small Business Administration (SBA) loans from states with higher restrictiveness (lo...
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In the aftermath of the Global and Financial Crisis, between 2013 and 2015, the Portuguese government revoked four holidays for both public sector and private employees. We test whether the revocation had an effect on labour productivity in state-owned enterprises (SOEs) in Portugal. Moreover, we also study whether such effects are different taking...
Article
Auditing in ventures may provide the necessary financial reporting bulwark, however, auditing also has direct and indirect costs that may be less efficacious in a venture with limited routines and capabilities, and could take an entrepreneur’s attention away from venture goals. We draw on a quasi-natural experiment in Sweden, where from 2011 small...
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Building on the recent surge of interest in understanding the influence of entrepreneurship on individual health and well-being, we ask whether county-level creative destruction is associated with county-level health outcomes. Consistent with regional economics and epidemiology literature our unit of analysis is at the regional (i.e., county) level...
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Despite growing research on the effect of high-performance work practices (HPWPs) on family firm performance, the implications of socioemotional wealth (SEW) preservation remain ambiguous. This stems from SEW preservation being used primarily as an explanatory construct and assessed indirectly rather than directly in empirical studies. To address t...
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Because of their remarkable history of financial success, corporate spin-offs are the subject of perennial interest and investigation. We critically review quantitative and case-based research to determine the conditions under which a spin-off divestiture provides beneficial results for the conglomerate, the newly independent subsidiary, and the st...
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Whether free returns create economic value for online retailers is a question of increasing importance. Using order‐level data from an online fashion retailer in Sweden, we investigate the introduction of free returns for customers in Denmark starting November 1, 2017, but not for customers in Sweden, Norway, Finland, France, Germany, and the rest...
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To predict the effect of bankruptcy laws on entrepreneurial activity, we exploit the 2005 and 2011 staggered state‐level increases in exemptions for the amount of personal wealth protected under Chapter 7 bankruptcy in the United States. We focus on three types of outcomes—firm establishments, entrepreneurship quality, and individual self‐employmen...
Article
Ventures face a duality in developing marketing capabilities-ventures may lack the resources and have a limited understanding of the market to develop marketing capabilities, and yet, capabilities can be a key to venture survival. We ask whether marketing capability helps ventures improve their survival odds and whether myopic marketing investments...
Article
Adopting an abductive approach, in this paper we use two studies to examine the relationships between financial worries and well-being amongst the self-employed during the time of the COVID-19 pandemic. In Study 1 of 4806 participants from the Understanding Society's COVID-19 survey of the UK population, we find that financial worries were associat...
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Rationale During the early 2020 COVID-19 pandemic, several US states had implemented stay-in-place orders (SIPOs) with varying degrees of stringency which resulted in inter-state differences in mobility (i.e., longer presence at home). We test whether the inter-state differences in mobility influenced changes in reported psychological distress. Our...
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Recent evidence suggests that weather exposure influences exam performance. Using an administrative dataset of Brazil’s college entrance exam (Exame Nacional do Ensino Médio, known as ENEM) from 2012 to 2016, we find that temperature has a negligible impact on test performance, with a 1 °C increase in dry bulb temperature improving the z-score by t...
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How small-business owners assess uncertainty and risk in the macroeconomic environment to report optimism toward their business activity is an important research question for policymakers and academics alike. Drawing on a monthly optimism index and a variety of uncertainty and volatility (risk) trackers from January 1986 to June 2017, in line with...
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Many studies have examined the relationship between employee ownership and firm productivity. However, research is lacking on how this relationship is strengthened or weakened by environmental characteristics. This is a critical oversight in the employee ownership literature because industry characteristics can significantly influence employees’ ex...
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We draw on the phenomenon of caste-based discrimination in India and signaling theory to assess whether microfinance credit scores improve the odds of female micropreneurs from a lower caste receiving loans and whether visible business characteristics further improve the odds of receiving microfinance loans. In a sample of 3,144 female microfinance...
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Drawing on image-based versus concept-based rhetoric research, we test whether concept-based rhetoric—evoking rational, logical, and concrete thinking—could be less useful than image-based rhetoric—evoking more primal, imaginative, and irrational imagery—in driving crowdfunding performance. We further examine how these forms of narrative rhetoric m...
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Firms are increasingly employing Chief Global Officers (CGOs) in their C-suites. Drawing on the information processing theory and the instrumental leadership framework, we argue that CGOs could be an important conduit in leveraging international scope to improve organizational performance. Based on a sample of 1,293 U.S. firms between 2006 and 2015...
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Anecdotal evidence suggests that entrepreneurs report fewer hours of sleep. However, in samples of 12,086 individuals in the 2012 and 2014 cross-sections of The Behavioral Risk Factor Surveillance System (BRFSS), and 47,851 individuals in the 2013-2016 National Health Interview Sample cross-sections, our results indicate that self-employed individu...
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Past studies on the effects of environmental, social, and governance (ESG) scores on firm performance have found mixed support. To further unpack these findings, we focus on the effects of industry-level dynamism and the predictability of ESG scores on sales and investor expectations on the prospects of firm growth. Dynamism (predictability) is bas...
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Entrepreneurship research in recent years has developed a meaningful understanding of well-being among self-employed individuals. Moving from the direct and conditional association between self-employment and well-being, we propose a moderated-mediation model based on the mediating effects of wellness beliefs. Wellness beliefs could be an important...
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The earnings of the self-employed are relatively low and volatile, a risk that exacerbated during the recent COVID-19 pandemic. Using three two-weeks-apart waves of data from the Understanding America Study, we show that relative to wage workers, the self-employed experience greater psychological distress through self-reported financial insecurity...
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We examine the relationships between oxidative stress (i.e., manifestations of physiological stress), antioxidants, potentially negative health outcomes (i.e., triglyceride levels), and self-employment through two studies. Our results indicate that oxidative stress is associated with higher triglyceride levels and, as hypothesized, this relationshi...
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Complementing increasing concerns that cryptocurrency could be used to finance terror networks, in this paper we investigate the effect of monthly terrorist attacks outcomes – success, injuries, and fatalities – on monthly returns of 1,178 cryptocurrencies representing 18,016 cryptocurrency-year-months between 2014 and 2018. The monthly percentage...
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Purpose The research first and uniquely explores the antecedent relationship among three highly studied environmental forces – competitive intensity (CI), market turbulence (MT) and technological turbulence (TT) – in a service context. Next, given the importance of services to the USA and global gross domestic product (GDP) and the unique character...
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A lesbian, gay, bisexual, and transgender workplace equality policy (LGBT-WEP) helps signal and reinforce the organizational commitment to workplace equality and diversity. Prior evidence suggests that LGBT-WEP is viewed favorably by stakeholders (customers, employees, and channel partners) and influences firm performance. Drawing on stakeholder th...
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With increasing health consciousness around calorie intake, we assess the influence of calorie labeling law on the stock market performance of publicly-traded fast-food chains. Using the Food and Drug Administration’s (FDA’s) final calorie labeling guidelines released on May 5, 2016, as the main event, we assess the cumulative abnormal return (CAR)...
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Though challenges to female entrepreneurship are widely acknowledged in the settings of developed countries or the context of formal firms, the challenges faced by female informal entrepreneurs in developing markets are less explored. Based on the liabilities of newness and smallness framework in organizational ecology, we draw on a sample of 2,562...
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The present study draws from Person-Environment (P-E) Fit theory to examine the relationship between Narcissistic Personality Disorder (NPD) and self-employment status as well as the potential for gender to moderate this relationship. Two-wave archival data involving 29,000 respondents of a representative sample provided overall support for our pre...
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We study the association between the minimum wage and food establishment hygiene violations between Seattle (the treated city) and Bellevue (the control city), both cities located in King County and sharing the same health inspection department. An increase in the real minimum wage of $0.25 is associated with an increase of at least 8% in total and...
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Are the self-employed more stressed than the employed? Current research on entrepreneur stress are mixed. We utilize the age-adjusted telomere length to test the influence of human capital on self-employment and stress. Data from 3,580 adults in the 1999–2000 and 2001–2002 National Health and Nutrition Examination Survey were fitted to a theoretica...
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We investigate whether the polygenic risk score (PRS) of subjective well-being (SWB), a weighted combination of multiple genetic variants which captures an individual’s time-invariant genetic predisposition to SWB, influences the choice of self-employment and whether it explains differences in earnings between older self-employed and employed worke...
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Many family firms hire and rely on non-family employees; therefore, the mutual benefits provided to both family and non-family members are important. Yet, the perspectives of non-family employees have been under researched. Drawing upon organizational identity and justice theories and the extant literature on family influence, this study examines n...
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We study the relationship between industry variety in a start-up's home location and the start-up's internationalization in terms of both the likelihood of and persistence in exporting. Using a unique sample of Swedish start-ups, we find that related industry variety is positively associated with exporting likelihood and persistence, whereas unrela...