References of "Block, Jörn"
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See detailHistorical institutional differences and entrepreneurship: socialist legacy in Vietnam
Fisch, Christian UL; Wyrwich, Michael; Nguyen, Thi Lanh et al

in International Review of Entrepreneurship (in press)

We study the case of Vietnam to assess the long-lasting role of institutional and historical legacy on entrepreneurial outcomes. In particular, we investigate the detrimental effect of socialist ... [more ▼]

We study the case of Vietnam to assess the long-lasting role of institutional and historical legacy on entrepreneurial outcomes. In particular, we investigate the detrimental effect of socialist institutions on entrepreneurship. Vietnam offers a unique quasi-experimental setting because the country was divided into the socialist North and the nonsocialist South for a relatively short period of two decades. After reunification, the South adopted the institutional framework conditions of the North. To assess the relationship between socialist history and entrepreneurship in this unique setting, we survey more than 3,000 North and South Vietnamese individuals more than four decades after the reunification of the country. We find that North Vietnamese respondents have lower entrepreneurship intentions, are less likely to select into entrepreneurship education programs, and are less willing to engage in a business takeover. These patterns indicate the persistence of historical differences in institutional framework conditions on entrepreneurship. We conclude by outlining the implications of a socialist legacy for entrepreneurship theory and policymakers. [less ▲]

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See detailTrademarks as an indicator of regional innovation: evidence from Japanese prefectures
Block, Jörn; Fisch, Christian UL; Ikeuchi, Kenta et al

in Regional Studies (2022), 22(2), 190-209

Regional science has long been concerned with measuring the spatial distribution of innovation activity. We introduce trademarks as a new indicator for regional innovation and argue that they are ... [more ▼]

Regional science has long been concerned with measuring the spatial distribution of innovation activity. We introduce trademarks as a new indicator for regional innovation and argue that they are particularly useful to measure the ‘soft’ side of innovation that is difficult to capture with conventional indicators. We explore the spatial distribution of trademarks using a detailed and comprehensive dataset of 47 Japanese prefectures from 1999 to 2012. In addition to mapping differences in trademarking across regions, we identify correlates at the regional level that provide insights into determinants of regional innovation measured via trademarks. For example, regional trademark activity positively correlates with population density, income per capita, entrepreneurship rate, the number of universities, and strong private service and finance sectors. Overall, the results reveal associations unique to trademarks that other measures of innovation cannot uncover. Our findings contribute to research in regional science and the evolving literature on trademarks. [less ▲]

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See detailVC investors’ venture screening: the role of the decision maker’s education and experience
Moritz, Alexandra; Diegel, Walter; Block, Jörn et al

in Journal of Business Economics (2022), 92(1), 27-63

We assess whether and how VC investors’ education and experience influence their screening decisions of potential investee candidates. Empirically, we perform an experimental choice-based-conjoint (CBC ... [more ▼]

We assess whether and how VC investors’ education and experience influence their screening decisions of potential investee candidates. Empirically, we perform an experimental choice-based-conjoint (CBC) analysis with 564 individual VC investors. Our results highlight that the level and field of education, as well as the decision maker’s investment and entrepreneurial experience, moderate the relative importance of different screening criteria. More specifically, we find that international scalability seems to become more important for decision makers with higher education and those with entrepreneurial experience. Whereas decision makers with a background in natural science focus on the value-added of the product or service, engineers seem to value a break even profitability and focus less on the management team. Investment experience, on the other hand, leads to a stronger focus on the management team. Our study contributes to the literature investigating the influence of human capital characteristics of the decision maker in venture financing. Practical implications exist for entrepreneurial ventures seeking financing and for risk capital investors making investments in such ventures. [less ▲]

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See detailHow to conduct a meta‑analysis in eight steps: a practical guide
Hansen, Christopher UL; Steinmetz, Holger; Block, Jörn

in Management Review Quarterly (2022), 72(1), 1-19

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See detailThe determinants of bootstrap financing in crises: evidence from entrepreneurial ventures in the COVID-19 pandemic
Block, Jörn; Fisch, Christian UL; Hirschmann, Mirko

in Small Business Economics (2022), 58(2), 867-885

Bootstrap financing refers to measures that entrepreneurial ventures undertake to preserve liquidity (e.g., reducing expenses, collecting receivables, delaying payments, preselling). Prior research shows ... [more ▼]

Bootstrap financing refers to measures that entrepreneurial ventures undertake to preserve liquidity (e.g., reducing expenses, collecting receivables, delaying payments, preselling). Prior research shows that bootstrap financing is an important enabler for the growth of resource-constrained early-stage ventures. However, little is known about the use of bootstrap financing in crises, during which the preservation of liquidity is particularly salient. We investigate the determinants of bootstrap financing in the 2020 COVID-19 crisis using a sample of 17,046 German entrepreneurial ventures. We formulate hypotheses about the determinants of bootstrap financing from a necessity, human capital, and opportunity cost perspective. Among others, our results show that the severity of the crisis for the venture, the level of private consumption, and self-employment experience are positively associated with an increased use of bootstrap financing measures. Our study contributes to the literature on bootstrap financing and illuminates how entrepreneurial ventures maintain liquidity in crises. [less ▲]

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See detailMotives and profiles of ICO investors
Fisch, Christian UL; Masiak, Christian; Vismara, Silvio et al

in Journal of Business Research (2021), 125(3), 564-576

Research on initial coin offerings (ICOs) is nascent and assesses ICOs from the perspectives of ventures and regulators. Little is known about the equally important group of investors who provide their ... [more ▼]

Research on initial coin offerings (ICOs) is nascent and assesses ICOs from the perspectives of ventures and regulators. Little is known about the equally important group of investors who provide their capital to ventures in ICOs. Using a primary dataset of 517 ICO investors, we identify and categorize the motivations to invest in ICOs using factor analysis. We find that investors are driven by ideological, technological, and financial motives. Regarding the relative importance of the motives, we find that technological motives are the most important motives to ICO investors, followed by financial and ideological motives. To further profile investors, we conduct a regression analysis to distinguish investors across different motives. For example, we show significant differences across motives with regard to investors' risk perception, sources of information, and demand for strict regulation. The implications of this study for both theory and practice are considerable. [less ▲]

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See detailEditorial comments for the special issue on digital innovation management
Pinkwart, Andreas; Block, Jörn; Proksch, Dorian et al

in International Journal of Innovation and Technology Management (2021), 18(2), 2002001

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See detailHow does entrepreneurial failure change an entrepreneur’s digital identity? Evidence from Twitter data
Fisch, Christian UL; Block, Jörn

in Journal of Business Venturing (2021), 36(1), 106015

We assess whether and how entrepreneurs' digital identities change in response to entrepreneurial failure based on a sample of 760 entrepreneurs who experienced failure. We analyze a longitudinal dataset ... [more ▼]

We assess whether and how entrepreneurs' digital identities change in response to entrepreneurial failure based on a sample of 760 entrepreneurs who experienced failure. We analyze a longitudinal dataset of Twitter messages before, during, and after a business failure with a language-based method of computerized text analysis. The results of our explorative research indicate that the financial, social, and psychological consequences of failure are reflected in entrepreneurs' Tweets and lead to changes in their digital identities. Among others, entrepreneurs' language decreases in emotional tone and indicates increased psychological distress. Simultaneously, we observe higher levels of self-assurance and reflection after failure. We conclude by outlining the potential of using Twitter-generated digital footprints in future entrepreneurship research. [less ▲]

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See detailWhich criteria matter when impact investors screen social enterprises?
Block, Jörn; Hirschmann, Mirko; Fisch, Christian UL

in Journal of Corporate Finance (2021), 66

Impact investors pursue both financial and social goals and have become an important source of funding for social enterprises. Our study assesses impact investor criteria when screening social enterprises ... [more ▼]

Impact investors pursue both financial and social goals and have become an important source of funding for social enterprises. Our study assesses impact investor criteria when screening social enterprises. Applying an experimental conjoint analysis to a sample of 179 impact investors, we find that the three most important criteria are the authenticity of the founding team, the importance of the societal problem targeted by the venture, and the venture’s financial sustainability. We then compare the importance of these screening criteria across different types of impact investors (i.e., donors, equity investors, and debt investors). We find that donors pay more attention to the importance of the societal problem and less attention to financial sustainability than do equity and debt investors. Additionally, equity investors place a higher value on the largescale implementation of the social project than do debt investors. We contribute to the nascent literature on impact investing by documenting how impact investors make investment decisions and by providing a nuanced view of different investor types active in this novel market. Practical implications exist for both impact investors and social enterprises. [less ▲]

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See detailEight tips and questions for your bibliographic study in business and management research
Block, Jörn; Fisch, Christian UL

in Management Review Quarterly (2020), 70(3), 307-312

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See detailReligion and entrepreneurship: a map of the field and a bibliometric analysis
Block, Jörn; Fisch, Christian UL; Rehan, Farooq

in Management Review Quarterly (2020), 70(4), 591-627

Research concerning religion and entrepreneurship has greatly increased over the last years and is scattered across various academic disciplines and fields. To provide an overview, we conduct a systematic ... [more ▼]

Research concerning religion and entrepreneurship has greatly increased over the last years and is scattered across various academic disciplines and fields. To provide an overview, we conduct a systematic literature search leading to a descriptive overview of the field based on 270 articles published in 163 journals. We identify and characterize the most important publications, journals, and authors in the field and map the analyzed religions and regions. Then, we perform a bibliometric analysis to structure the field and identify thematic clusters and author and journal interconnections and networks. Our study provides a better understanding of the field of religion and entrepreneurship research and, based on these results, outlines avenues for future research. [less ▲]

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See detailIn which regions do governmental, independent, and corporate venture capital firms invest? An empirical investigation across 402 German regions
Masiak, Christian; Fisch, Christian UL; Block, Jörn

in Moritz, Alexandra; Block, Jörn; Golla, Stephan (Eds.) et al Contemporary Developments in Entrepreneurial Finance (2020)

We analyze the distribution of venture capital (VC) investments across German regions and explore the geographical determinants of these investments. So far, little is known about the regional ... [more ▼]

We analyze the distribution of venture capital (VC) investments across German regions and explore the geographical determinants of these investments. So far, little is known about the regional determinants of governmental (GVC), independent (IVC), and corporate (CVC) VC firms and about whether these types of VC firms invest in different regions. Combining a dataset of 402 German districts, our regressions show that regions with a higher supply of human capital and knowledge creators attract a significantly higher number of GVC investments. Moreover, we find a significant difference in economically weaker regions but do not find a metropolitan bias. Hence, GVC firms do not invest more frequently in rural regions per se and do not prevent regional disparities more often than other types of VC firms. The implications of these findings for high-tech firms and regional policy are discussed. [less ▲]

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See detailA personality perspective on business angel syndication
Block, Jörn; Fisch, Christian UL; Obschonka, Martin et al

in Journal of Banking and Finance (2019), 100

The decision to syndicate investments in entrepreneurial finance has been explained through financial, networking, and resource-based perspectives. We posit that a personality perspective exists next to ... [more ▼]

The decision to syndicate investments in entrepreneurial finance has been explained through financial, networking, and resource-based perspectives. We posit that a personality perspective exists next to these three perspectives and hypothesize that the personality of business angels influences syndication behavior. Using data from 3,234 syndication decisions of 1,348 business angels, we find evidence for some of our predictions. By measuring personality through a comprehensive language analysis based on digital footprints in Twitter statements of business angels, we show that extraversion makes syndication more likely, whereas conscientiousness reduces the likelihood of syndication. Several sensitivity analyses underline the robustness of our main results. Further exploratory analyses assess the relationship between personality and syndicate composition as well as that between personality and venture success. Our study contributes to the entrepreneurial finance literature by adding and validating a new perspective to explain syndication behavior. In addition, our study contributes to research on the personality of business angels. [less ▲]

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See detailEntrepreneurship in Islamic communities: how do Islamic values and Islamic practices influence entrepreneurship intentions?
Rehan, Farooq; Fisch, Christian UL; Block, Jörn

in Journal of Enterprising Communities (2019), 13(5), 557-583

Purpose – Prior research has investigated the development of Islamic communities. The authors contribute to this line of research by analyzing the effects of Islamic values and Islamic religious practices ... [more ▼]

Purpose – Prior research has investigated the development of Islamic communities. The authors contribute to this line of research by analyzing the effects of Islamic values and Islamic religious practices on entrepreneurship intentions in Islamic communities. Using theory of planned behavior as a theoretical lens, they also take into account that the relationship between religion and entrepreneurial intentions can be mediated by individual’s attitude toward entrepreneurship. Design/methodology/approach – The authors analyze primary data obtained from a sample of 1,895 Pakistani university students. They also use structural equation modeling to perform a nuanced assessment of the relationship between Islamic values and practices and entrepreneurship intentions and to account for mediating effects. Findings – The results show that both Islamic values and Islamic practices positively influence entrepreneurship intentions. Both effects are mediated by the attitude toward entrepreneurship. Originality/value – The authors contribute to prior research on entrepreneurship in Islamic communities by applying a more fine-grained approach to capture the link between religion and entrepreneurship. Further, they contribute to the literature on entrepreneurship intentions by showing that the influence of religion on entrepreneurship intentions is mainly due to religious values and practices, which shape the attitude [less ▲]

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See detailThe impact of acquisitions on Chinese acquirers' innovation performance: An empirical investigation of 1,545 Chinese acquisitions
Fisch, Christian UL; Block, Jörn; Sandner, Philipp

in Journal of Business Economics (2019), 89(2), 125-153

Acquisitions by Chinese firms have increased markedly in recent years. So far, we know little about the effects of these acquisitions on the acquirer’s innovation performance. Our paper focuses on two ... [more ▼]

Acquisitions by Chinese firms have increased markedly in recent years. So far, we know little about the effects of these acquisitions on the acquirer’s innovation performance. Our paper focuses on two interrelated research questions. First, to what extent can Chinese firms increase their patent output following an acquisition? Second, which factors influence the post-acquisition patent output? Using a comprehensive dataset of 697 publicly listed Chinese firms in the manufacturing sector that conducted 1545 acquisitions from 2000 to 2012, we find no significant overall effect of acquisitions on patent output. However, we find that several acquisition-specific factors have a positive effect on the post-acquisition patent output (e.g., size of the acquired knowledge base, relatedness of the acquired knowledge base, cross-border acquisitions). Our study extends prior research on post-acquisition innovation performance to the context of Chinese acquirers. [less ▲]

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See detailPrivate equity investment criteria: An experimental conjoint analysis of venture capital, business angels, and family offices
Block, Jörn; Fisch, Christian UL; Vismara, Silvio et al

in Journal of Corporate Finance (2019), 58

We use an experimental conjoint analysis to investigate the investment criteria of 749 private equity investors, distinguishing between family offices, business angels, venture capital funds, growth ... [more ▼]

We use an experimental conjoint analysis to investigate the investment criteria of 749 private equity investors, distinguishing between family offices, business angels, venture capital funds, growth equity funds, and leveraged buyout funds. Our results indicate that revenue growth is the most important investment criterion, followed by the value-added of product/service, the management team's track record, and profitability. Regarding differences across investor types, we find that family offices, growth equity funds, and leveraged buyout funds place a higher value on profitability as compared to business angels and venture capital funds. Venture capital funds, in turn, pay more attention to companies' revenue growth, business models, and current investors. With these results, our study contributes to the corporate finance literature by deepening our understanding of how different types of private equity investors make investment decisions. [less ▲]

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See detailHow do labor market institutions influence the preference to work in family firms? A multilevel analysis across 40 countries
Block, Jörn; Fisch, Christian UL; Lau, James et al

in Entrepreneurship: Theory and Practice (2019), 43(6), 1067-1093

Family firms must attract talented employees to stay competitive. They have different employer characteristics than nonfamily firms. For example, although they generally offer lower wages, they also ... [more ▼]

Family firms must attract talented employees to stay competitive. They have different employer characteristics than nonfamily firms. For example, although they generally offer lower wages, they also typically offer higher job security and a more cooperative and entrepreneurial work environment. However, drawing on occupational choice theory, we argue that the importance of these unique family firm characteristics depends on the national labor market context in which the family firm is embedded. A multilevel investigation of 12,746 individuals in 40 countries shows that individuals prefer to work in family firms in labor markets with flexible unregulated hiring and firing practices, centralized wage determination, and low labor–employer cooperation. A cross-level analysis further shows that the national labor market context moderates the effects of individual-level factors determining the preference to work in a family firm (e.g., entrepreneurship intention). Our article is the first to consider labor market institutions in research on family firms as employers. Practical implications exist for family firms regarding their employer branding and intrapreneurship strategies. [less ▲]

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See detailQuantity and quality of jobs by entrepreneurial firms
Block, Jörn; Fisch, Christian UL; Van Praag, Mirjam

in Oxford Review of Economic Policy (2018), 34(4), 565-583

The idea that start-ups and young firms (hereafter entrepreneurial firms) create jobs is very popular among policy-makers and has led to a large number of studies investigating the effect of ... [more ▼]

The idea that start-ups and young firms (hereafter entrepreneurial firms) create jobs is very popular among policy-makers and has led to a large number of studies investigating the effect of entrepreneurship on job creation. Recently, however, society and many players in the political arena have begun to care not only about job quantity and quantitative employment levels, but also about the quality of the jobs created. This study provides the first systematic literature review of research on the quantity and quality of jobs created by entrepreneurial firms. Our review shows that entrepreneurial firms have a long-lasting and positive effect on job creation. This effect seems to be due to a very small fraction of young, high-growth firms. With regard to job quality, however, the findings are less clear cut: while some studies indicate that entrepreneurial firms do create higher-quality jobs, a multitude of studies indicate that these jobs are of lower quality. We also show that entrepreneurial firms attract a different type of employee than established firms. For example, employees in entrepreneurial firms attach a lower weight to salary and job security than those in established firms, and instead assign greater value to responsibility, innovation, and challenges. Another finding is that many jobs in entrepreneurial firms are filled by formerly unemployed individuals. The review concludes with policy implications and avenues for future research. [less ▲]

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See detailSix tips for your (systematic) literature review in business and management research
Fisch, Christian UL; Block, Jörn

in Management Review Quarterly (2018), 68(2), 103-106

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See detailWhat drives the intellectual property output of high-tech firms? Regional- and firm-level factors
Masiak, Christian; Fisch, Christian UL; Block, Jörn

in Presse, André; Terzidis, Orestis (Eds.) Technology Entrepreneurship (2018)

This study analyzes the effects of regional- and firm-level factors on the intellectual property (IP) output of high-tech firms. So far, little is known on how regional factors influence the IP output of ... [more ▼]

This study analyzes the effects of regional- and firm-level factors on the intellectual property (IP) output of high-tech firms. So far, little is known on how regional factors influence the IP output of high-tech firms.We combine data on 8317 German high-tech firms with regional data and perform various regression analyses. We measure the IP output by the number of granted patents and trademarks. In particular, the receipt of venture capital and firm size have a significant effect on the IP output. With regard to regional factors, the student rate in a region is positively linked to IP output, whereas the existence of a technical university in a region has no significant effect on the IP output. Implications for policy makers and practitioners are discussed. [less ▲]

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