Capelleras, Joan-Lluis and Greene, Francis J. (2008) The determinants and growth implications of venture creation speed. Entrepreneurship & Regional Development, Vol.20 (No.4). pp. 317-343. ISSN 0898-5626

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Abstract

Time is central to our understanding of entrepreneurship. However, while prior research has shown a general link between decision speed and venture performance, little is known about what factors influence the speed of venture creation. Equally, little research has been conducted on how venture creation speed impacts on venture growth. This paper examines the determinants and growth implications of venture creation speed from a social constructionist perspective, which sees that time both shapes and is shaped by individuals, social contexts and spatial structures. We, therefore, investigate the influence of entrepreneurial characteristics, external support, institutional influences and the regional context in which venture creation speed occurs and subsequently impacts on growth in new ventures. Results from structured interviews with 381 active de novo entrepreneurs in Catalonia (Spain) show a positive relationship between prior entrepreneurial experience and speed. Interestingly, support from potential suppliers and customers is useful not only for speed but also for the subsequent growth of the venture. In contrast, business planning retards venture creation and fails to lead to an improvement in growth. Results also indicate a positive, but weak, relationship between speed and growth, once entrepreneurial, environmental and venture characteristics are held constant. The paper subsequently discusses these findings and suggests further research directions and practical implications.

Item Type:	Journal Item
Subjects:	H Social Sciences > HF Commerce H Social Sciences > HD Industries. Land use. Labor
Divisions:	Faculty of Social Sciences > Warwick Business School > Centre for Small & Medium-Sized Enterprises Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH):	New business enterprises -- Spain -- Catalonia, Entrepreneurship -- Spain -- Catalonia, Economic development -- Spain -- Catalonia
Journal or Publication Title:	Entrepreneurship & Regional Development
Publisher:	Routledge
ISSN:	0898-5626
Date:	2008
Volume:	Vol.20
Number:	No.4
Number of Pages:	27
Page Range:	pp. 317-343
Identification Number:	10.1080/08985620701855683
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Funder:	Universitat Autonoma de Barcelona, Institut d'Estudis Regionals i Metropolitans de Barcelona, Spain. Ministerio de Ciencia y Tecnología (MCT)
Grant number:	SEC2004-07242-C03-01/ECON (MCT)
URI:	http://wrap.warwick.ac.uk/id/eprint/29813

Data sourced from Thomson Reuters' Web of Knowledge

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