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Measuring the market newness of new ventures

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  • Dahlqvist, Jonas
  • Wiklund, Johan

Abstract

The present lack of instruments for measuring entrepreneurial opportunity is hampering progress in entrepreneurship research and fundamental hypotheses about opportunity variance are not being tested. This paper sets out to validate a measure of market newness in new ventures based in Austrian Economics, assuming a view of opportunity as objective and discoverable. Empirically, a sample of 250 new internal ventures in gestation was examined regarding to whom these ventures presented something new in terms of geographical extension or new customer groups. The measure improves on existing instruments by providing more intrinsic range while being firmly anchored in an Austrian Economics framework.

Suggested Citation

  • Dahlqvist, Jonas & Wiklund, Johan, 2012. "Measuring the market newness of new ventures," Journal of Business Venturing, Elsevier, vol. 27(2), pages 185-196.
    • Handle: RePEc:eee:jbvent:v:27:y:2012:i:2:p:185-196
    DOI: 10.1016/j.jbusvent.2010.12.001
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    References listed on IDEAS

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    1. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
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    3. Mikael Samuelsson & Per Davidsson, 2009. "Does venture opportunity variation matter? Investigating systematic process differences between innovative and imitative new ventures," Small Business Economics, Springer, vol. 33(2), pages 229-255, August.
    4. Kirzner, Israel M, 1999. "Creativity and/or Alertness: A Reconsideration of the Schumpeterian Entrepreneur," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 11(1-2), pages 5-17.
    5. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    6. Scott Shane, 2000. "Prior Knowledge and the Discovery of Entrepreneurial Opportunities," Organization Science, INFORMS, vol. 11(4), pages 448-469, August.
    7. Amason, Allen C. & Shrader, Rodney C. & Tompson, George H., 2006. "Newness and novelty: Relating top management team composition to new venture performance," Journal of Business Venturing, Elsevier, vol. 21(1), pages 125-148, January.
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    Cited by:

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    3. Stratos Ramoglou & Stelios Zyglidopoulos, 2015. "The constructivist view of entrepreneurial opportunities: a critical analysis," Small Business Economics, Springer, vol. 44(1), pages 71-78, January.
    4. Dean A. Shepherd & Johan Wiklund, 2020. "Simple Rules, Templates, and Heuristics! An Attempt to Deconstruct the Craft of Writing an Entrepreneurship Paper," Entrepreneurship Theory and Practice, , vol. 44(3), pages 371-390, May.
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    8. Vandor, Peter & Franke, Nikolaus, 2016. "See Paris and… found a business? The impact of cross-cultural experience on opportunity recognition capabilities," Journal of Business Venturing, Elsevier, vol. 31(4), pages 388-407.
    9. Ramoglou, Stratos & Tsang, Eric W.K., 2017. "Accepting the unknowables of entrepreneurship and overcoming philosophical obstacles to scientific progress," Journal of Business Venturing Insights, Elsevier, vol. 8(C), pages 71-77.
    10. Davidsson, Per & Grégoire, Denis A. & Lex, Maike, 2021. "Venture Idea Assessment (VIA): Development of a needed concept, measure, and research agenda," Journal of Business Venturing, Elsevier, vol. 36(5).
    11. Shehu Rabiah Na-Allah & Noor Hazlina Ahmad, 2022. "Entrepreneurial Orientation and Venture Creation in Nigerian Context: Assessing Mediating and Moderating Roles of Self-Efficacy and Entrepreneurial Support among Graduates," Sustainability, MDPI, vol. 14(9), pages 1-25, April.
    12. Per Davidsson & Scott R. Gordon, 2016. "Much Ado about Nothing? The Surprising Persistence of Nascent Entrepreneurs through Macroeconomic Crisis," Entrepreneurship Theory and Practice, , vol. 40(4), pages 915-941, July.
    13. Patricia Kotnik & Rok Stritar, 2015. "ICT as the Facilitator of Entrepreneurial Activity: An Empirical Investigation," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 277-277, February.
    14. Scheaf, David J. & Loignon, Andrew C. & Webb, Justin W. & Heggestad, Eric D. & Wood, Matthew S., 2020. "Measuring opportunity evaluation: Conceptual synthesis and scale development," Journal of Business Venturing, Elsevier, vol. 35(2).
    15. Thorsten Semrau & Christian Hopp, 2016. "Complementary or compensatory? A contingency perspective on how entrepreneurs’ human and social capital interact in shaping start-up progress," Small Business Economics, Springer, vol. 46(3), pages 407-423, March.
    16. Honggui Li & Zhongwei Chen & Guoxin Ma, 2016. "Corporate Reputation and Performance: A Legitimacy Perspective," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 4(3), pages 181-193.
    17. Rabiah Na-Allah Shehu & Noor Hazlina Ahmad, 2023. "Entrepreneurship education and graduate’s venture creation activities: roles of entrepreneurial support and entrepreneurial capabilities," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 13(1), pages 1-20, December.
    18. Tristan Boyer & Régis Blazy, 2014. "Born to be alive? The survival of innovative and non-innovative French micro-start-ups," Small Business Economics, Springer, vol. 42(4), pages 669-683, April.
    19. Hyytinen, Ari & Pajarinen, Mika & Rouvinen, Petri, 2015. "Does innovativeness reduce startup survival rates?," Journal of Business Venturing, Elsevier, vol. 30(4), pages 564-581.

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