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Holger Patzelt

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Holger Patzelt and Dean A. Shepherd

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Holger Patzelt and Dean A. Shepherd

In this article we draw on goal-setting theory to analyze how and why entrepreneurs perceive the usefulness of policy programs aimed at facilitating the development of academic ventures. Using a conjoint study and data on 3,136 assessments nested within 98 academic entrepreneurs, we find that access to finance offered by a policy program is central and enhances the entrepreneurs’ perceived benefits of other policy measures such as providing access to nonfinancial resources (networks, business knowledge) and reducing administrative burdens, but diminishes the perceived benefits of offering tax incentives for new ventures. Our results extend the literature on academic entrepreneurship and entrepreneurs’ assessments of government policy measures. For policy makers, our study suggests that the simultaneous launch of policy measures may be perceived by academic entrepreneurs as particularly beneficial for fostering the development of their young ventures.
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Holger Patzelt and Dean A. Shepherd

We draw on theories of persistence to develop a model of alliance managers' decisions towards persisting in underperforming alliances based on their concomitant consideration of the control and trust in those alliances. We test the model using experimental data based on 2,816 decisions nested within 88 alliance managers. We find that output, behavioural and social control, competence and goodwill trust, and interactions between trust and control variables significantly explain alliance managers’ decisions to persist in underperforming alliances. We discuss the implications of these findings for the control, trust and strategic alliance literatures.
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J. Michael Haynie, Dean A. Shepherd and Holger Patzelt

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Dean A. Shepherd, Holger Patzelt and Marcus Wolfe

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Dean A. Shepherd, Holger Patzelt and Robert A. Baron

Some managers and entrepreneurs decide to act in ways that result in harm to the natural environment, despite the fact that such actions violate their own values. Building on moral self regulation theory (Bandura, 1991), we propose that entrepreneurs’ assessments of the attractiveness of opportunities that harm the natural environment depend on the simultaneous impact of values and personal agency. By cognitively disengaging their pro-environmental values, decision makers (i.e., entrepreneurs) can (under certain circumstances) perceive opportunities that harm the environment as highly attractive and thus suitable for exploitation. The results of a judgment task that generated 1,264 opportunity assessments nested within 83 business founders offered support for this general prediction and indicated that the extent of founders’ disengagement of their pro-environmental values was stronger when they had high, rather than low, entrepreneurial self-efficacy, and stronger when industry munificence was perceived as low rather than high. We discuss our new measure of moral disengagement in a decision-making context and the implications of the study’s findings for extant literatures on moral disengagement and sustainable entrepreneurship.
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Anja Klaukien, Dean A. Shepherd and Holger Patzelt

This article investigates the role of affect in innovation managers’ decision to exploit new product opportunities—a decision central to the innovation process. The model proposes that different types of passion can trigger managers’ exploitation decisions but that this effect is contingent on experiencing excitement from events outside their work environment. A field experiment with 90 owner managers of young firms located in an innovation context (business incubators) shows that passion for work and nonwork-related excitement levels interdependently impact innovation managers’decision to exploit new product opportunities. Specifically, harmonious passion has a general positive effect on managers’ propensity to exploit. In contrast, the effect of obsessive passion is more complex and contingent on the additional excitement managers experience such that the positive relationship between obsessive passion and the decision to exploit is more positive with higher levels of excitement. These findings extend the product innovation management literature by acknowledging that decision-makers’ affective experiences influence innovation decisions and provide a first step toward understanding the role of affect and passion in the product innovation context. Second, the finding that obsessive passion and nonwork-related excitement interact in explaining opportunity exploitation decisions highlights the need to incorporate contingency relationships in models of innovation decision-making. Third, in drawing on a field experiment and the experimental manipulation of managerial affect during the decision-making task, this article answers a recent call in the project management literature to pursue less common methodological approaches and develop “broader theoretical schema” in order to enhance our understanding of innovation management. Finally, this study also has implications for practitioners because it can help innovation managers understand their own decision policies. To the extent that innovation managers are able to regulate their affective experiences, this improved understanding might prevent them from premature and faulty decision-making.