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Holger Patzelt

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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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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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J. Michael Haynie, Dean A. Shepherd and Holger Patzelt

To sense and adapt to uncertainty by leveraging prior entrepreneurial knowledge is a critical ability. However, for many individuals, prior entrepreneurial knowledge is absent or underdeveloped. We investigate the ability of individuals without prior entrepreneurial knowledge to effectively adapt decision policies in response to feedback, while performing an entrepreneurial task. We model 10,000 “entrepreneurial decisions” nested within 217 individuals, to demonstrate how differences in metacognitive ability and feedback type promote (or alternatively impede) cognitive adaptability. Our findings suggest insights into the interplay between knowledge, learning, and cognition that are generalizable to activities and actions central to the entrepreneurial process.
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Dean A. Shepherd, Holger Patzelt and Robert A. Baron

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Anja Klaukien, Dean A. Shepherd and Holger Patzelt

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J. Michael Haynie, Dean A. Shepherd and Holger Patzelt