Entrepreneurship, Universities  &  Resources
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Entrepreneurship, Universities & Resources

Frontiers in European Entrepreneurship Research

Edited by Ulla Hytti, Robert Blackburn, Denise Fletcher and Friederike Welter

The role of resources is pivotal in entrepreneurship for the success of new and small ventures, though most face resource constraints. The book offers multiple perspectives on analysing and understanding the importance of resources in entrepreneurship development. Approaching the subject with both a practice-theory and research-based approach, the contributors analyse topics such as processes and structures in social entrepreneuring; entrepreneurship and equity in crowdfunding; and forming alliances with large firms to overcome resource constraints. The contributors provide evidence, for example, on how business angels can contribute more than finance to small ventures and how the flexibility of resources is important in internationalisation.
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Chapter 5: Resource flexibility, early internationalization and performance

R. Isil Yavuz, Harry Sapienza and Youngeun Chu


This study examines the effect of resource flexibility on the early internationalization and performance of international new ventures. We test our hypotheses using data from the Kauffman Firm Survey on 2424 newly founded new ventures in the USA. After controlling for the amount of total resources, we show that new ventures with more flexible resource configurations tend to internationalize earlier. In addition, we also find that resource flexibility helps international new ventures to perform better in terms of both international sales intensity and short-term revenue growth. However, we find no significant effect of flexible resource on the short-term survival of international new ventures.

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