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Beyond environmental scarcity: Human and social capital as driving forces of bootstrapping activities

Grichnik, Dietmar
Brinckmann, Jan
Singh, Luv
Manigart, Sophie
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Publication Type
Journal article with impact factor
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Supervisor
Publication Year
2014
Journal
Journal of Business Venturing
Book
Publication Volume
29
Publication Issue
2
Publication Begin page
310
Publication End page
326
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Abstract
Although entrepreneurship scholars highlight bootstrapping as a key resource acquisition approach to respond to the inherent resource constraints that nascent ventures face, little is known about what causes nascent ventures to engage in bootstrapping. Theory highlights the environment as an important determinant of bootstrapping activity. Analyzing bootstrapping behavior of 298 nascent ventures, we find that beyond perceived environmental factors, individual characteristics of the nascent entrepreneurs and factors relating to the embeddedness of the entrepreneurs in the environment determine their venture's bootstrapping behavior. In a more fine-grained analysis we gain insights into how these antecedents shape the use of particular bootstrapping strategies. Findings contribute to our understanding of factors driving resource management approaches in nascent ventures.
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Keywords
Bootstrapping, Human Capital, Social Capital, Environmental Munificence, Nascent Ventures
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