Table of Contents

Handbook of Research on New Venture Creation

Handbook of Research on New Venture Creation

Elgar original reference

Edited by Kevin Hindle and Kim Klyver

This comprehensive Handbook provides an essential analysis of new venture creation research. The eminent contributors critically discuss and explore the current literature as well as suggest improvements to the field. They reveal a strong sense of both the ‘state-of-the-art’ (what has and has not been done in new venture creation research) and the ‘state-of-the-could-be’ (future directions the field should take to improve knowledge). The Handbook comprises nineteen chapters divided into four main sections: setting the agenda; theoretical perspectives; data and measurements; and new venture creation through contextual lenses.

Chapter 10: Entrepreneurial Commitment and New Venture Creation: A Conceptual Exploration

Alain Fayolle, Olivier Basso and Emo T. Tornikoski

Subjects: business and management, entrepreneurship

Extract

Alain Fayolle, Olivier Basso and Erno T. Tornikoski INTRODUCTION The act of new venture creation does not relate to one single decision. Inaugural decisions and founding ‘ruptures’ often result from a long and winding path. Comparable in that sense to the act of artistic creation, the act of new venture creation is not suited to simplifying causal analysis. In light of this, numerous works conducted in the field of new venture creation have attempted to explain the emergence of the phenomenon, and more particularly the pivotal moment when the creation process is set in motion. This is how Shapero and Sokol (1982) designed a model based on the notions of ‘desirability’ and ‘feasibility’ of the project, combined with a factor of displacement that acts as a triggering event. The notion of displacement refers to the effect of a perceived disruption or radical change in one’s personal life. The introduction of a discontinuity precipitates the decision to act entrepreneurially and serves as a catalyst for the trigger. This event, the sudden occurrence of which incurs imbalance in the individual’s life, may be perceived by the actor as either a positive displacement (discovery of an opportunity) or a negative one (professional dissatisfaction or lay-off). Following these precursor works, the concept of ‘intention’ appeared, which in turn led to a number of theoretical models. Using intention relies on the assumption that founding a business is both an intentional and a planned act (Krueger and Carsrud 1993). Since the beginning of the 1990s, the...

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