PurposeAll entrepreneurs interact simultaneously with multiple entrepreneurial contexts throughout their entrepreneurial journey. This conceptual paper has two central aims: (1) it synthesises the current literature on gender and entrepreneurship, and (2) it increases our understanding of how gender norms, contextual embeddedness and (in)equality mechanisms interact within contexts. Illustrative contexts that are discussed include entrepreneurship education, business networks and finance.Design/methodology/approachThis conceptual paper draws upon extant literature to develop its proposed conceptual framework. It provides suggestions for systemic policy interventions as well as pointing to promising paths for future research.FindingsA literature-generated conceptual framework is developed to explain and address the systemic barriers faced by opportunity-driven women as they engage in entrepreneurial contexts. This conceptual framework visualises the interplay between gender norms, contextual embeddedness and inequality mechanisms to explain systemic disparities. An extra dimension is integrated in the framework to account for the power of agency within women and with others, whereby agency, either individually or collectively, may disrupt and subvert the current interplay with inequality mechanisms.Originality/valueThis work advances understanding of the underrepresentation of women entrepreneurs. The paper offers a conceptual framework that provides policymakers with a useful tool to understand how to intervene and increase contextual embeddedness for all entrepreneurs. Additionally, this paper suggests moving beyond “fixing” women entrepreneurs and points towards disrupting systemic disparities to accomplish this contextual embeddedness for all entrepreneurs. By doing so, this research adds to academic knowledge on the construction and reconstruction of gender in the field of entrepreneurship.
Concerns about the negative consequences of the excessive underpricing of the current arrangement in the initial public offering (IPO) market for the provision of entrepreneurial finance—book building—have led to research into the viability of auctions for IPO pricing and allocation. IPO firms face a trade-off between the benefit of accurate and reliable IPO price discovery and the cost of underpricing. The main aim of this paper was to gain new scientific knowledge about this trade-off by measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price. Using controlled experiment methodology in multi-unit uniform price auctions we found that the most capacity-restricted auctions that also offer investors a discount are likely to produce the most accurate and reliable price discovery and consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize investors to reliably contribute to price discovery. The resulting underpricing (and its variability) of these auctions is likely to be significantly lower than if book building would be used to price and allocate IPOs. Technological innovation in the IPO market through the application of recent advances in data science, experimental economics and artificial intelligence allows for the optimization of IPO mechanisms and crowdfunding platforms which in turn improves the access to equity required for entrepreneurial finance.
Educational programs teaching entrepreneurial behaviour and knowledge are crucial to a vital and healthy economy. The concept of building a Communities of Practice (CoP) could be very promising. CoP’s are formed by people who engage in a process of collective learning in a shared domain of human endeavour (Wenger, McDermott and Snyder, 2002). They consist of a group of people who share a concern or a passion for something they do and learn how to do it better as they interact regularly. Normally CoP’s are rather homogeneous. Saxion institute Small Business & Retail Management (SB&RM) started a CoP with entrepreneurs September 2007. Typical in the this community, are the differences between the partners. The Community consists of students, entrepreneurs and members of an institution for higher education. They have different characteristics and they don’t share the same knowledge. Thus, building long-lasting relations can be complicated. Solid relations for longer periods are nevertheless inevitable in using CoP as a mean in an educational concept that takes approximately 4 years. After one year an evaluation took place on the main aspects of a lasting partnership. The central problem SB&RM in Deventer faces is to design the CoP in a way possible members will join and stay for a longer period and in a way it ensures entrepreneurial learning. This means important design characteristics have to be identified, and the CoP in Deventer has to be evaluated to assess whether it meets those design characteristics in an effective and efficient way. The main target of the evaluation is to determine which key factors are important to make sure continuity in partnership is assured and entrepreneurial learning is best supported. To solve the problem, an investigation on how a CoP works, what group dynamics take place, and how this can be measured has to be conducted. Furthermoreusing the CoP as a tool for entrepreneurship means key aspects of entrepreneurial learning have to be identified. After that the CoP in Deventer has to be examined on both aspects. According to literature CoP’s define themselves along three dimensions: domain (indicating what is it about), community (defining how it functions), and practice (indicating what capabilities it has produced) (Wenger, 1998). This leads to meaningful, shared and coordinated activities (Akkerman et al, 2007): Key aspects of a successful CoP lie in both hard and soft sides of creating a partnership. It means on one hand a CoP has to deal with defining their own overall vision, formulating long term goals and targets on the short term. They have to formulate how to achieve those targets and create meaningful activities (reification). On the other hand a CoP has to deal with relations, trust, norms and values (participation). Reification and participation as design characteristic can provide indicators on which the CoP in Deventer can be evaluated. A lasting partnership means joining the CoP and staying. Weick provides us with a suitable model that enables us to do research and evaluate whether the CoP in Deventer is successful or not, Weick’s model of means convergence. To effectively ensure entrepreneurial learning the process in the CoP has to provide or enable actionoriented forms through Project-based activity, accompanied by reflection, with high emotional exposure (or cognitive affection) preferably caused by discontinuities to be suitable as a tool in entrepreneurial learning. Furthermore it should be accompanied by the right preconditions to work effectively and efficiently. The evaluation of the present CoP in Deventer is done by interviewing all participants at the end of the first year of the partnership. In a structured interview, based on literature studies, all participants were separately questioned
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