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Hidden ties in international new venturing: The case of portfolio entrepreneurship

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  • McGaughey, Sara L.
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    Abstract

    A hitherto neglected phenomenon in international new venturing is portfolio entrepreneurship, which occurs when entrepreneurs found, own, manage and control more than one business at a time, with ownership of the new venture being distinct from that of the existing business ventures. This study introduces the phenomenon of portfolio entrepreneurship in international new venturing through a longitudinal study of a cluster of small and medium enterprises (SMEs) in Tasmania, Australia, where 6 of 11 firms in the cluster were international new ventures (INVs). The pattern of international portfolio entrepreneurship pursued by the Tasmanian entrepreneurs and coupling between firms is described. Key findings include the ability of portfolio entrepreneurs to leverage high-discretion slack resources, positive legitimacy spillovers, and learning effects and experimentation across loosely coupled INVs in the portfolio. The findings also identify dysfunctional elements of portfolio entrepreneurship, and cast doubt over the conventional use of 'the firm' as the focal unit of analysis in INV studies. A particular contribution of this study is to remind us of the richness and pluralism inherent in international new venturing.

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    File URL: http://www.sciencedirect.com/science/article/pii/S1090951607000363
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of World Business.

    Volume (Year): 42 (2007)
    Issue (Month): 3 (September)
    Pages: 307-321

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    Handle: RePEc:eee:worbus:v:42:y:2007:i:3:p:307-321

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    Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/620401/description#description

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    Related research

    Keywords: International new venturing Portfolio entrepreneurship Resource transfer Legitimacy Opportunity identification;

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    Cited by:
    1. Jones, Marian V. & Coviello, Nicole & Tang, Yee Kwan, 2011. "International Entrepreneurship research (1989–2009): A domain ontology and thematic analysis," Journal of Business Venturing, Elsevier, vol. 26(6), pages 632-659.
    2. Arild Aspelund & Carina Moen, 2012. "International new ventures and governance structures—are international entrepreneurs strategic or entrepreneurial?," Journal of Management and Governance, Springer, vol. 16(1), pages 125-146, February.
    3. Onetti Alberto & Odorici Vincenza & Presutti Manuela, 2008. "The Internationalization of Global Start-Ups: Understanding the Role of Serial Entrepreneurs," Economics and Quantitative Methods qf0801, Department of Economics, University of Insubria.

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