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The Opportunity Cost and Endowment Effects of Resources and Capabilities on Stages of Entrepreneurship

NYAKUDYA, Frederick, Hart, Mark, Mickiewicz, Tomasz and Theodorakopoulos, Nicholas (2013) The Opportunity Cost and Endowment Effects of Resources and Capabilities on Stages of Entrepreneurship. In: British Academy of Management 2013 Conference, 10-12 September 2013, Liverpool, UK.

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Abstract or description

In this paper, the start-up process is split conceptually into four entrepreneurial stages considering entrepreneurship, intending to start a new business in the next three years, nascent entrepreneurship and newly established business. We investigate the determinants of the start-up process using a multinomial logit model which allows the effects of resources and capabilities to vary across the different entrepreneurial stages. We employ a pooled Global Entrepreneurship Monitor database for the years 2006 to 2009, containing 8,269 usable observations of the East Midlands region in the United Kingdom, controlling for the local environmental effects. Our results show that the combinative role of human capital, experience and local context varies along the different stages of the entrepreneurial process. In the early stages the (negative) opportunity cost effect of resources dominates tends to reverse in advanced stages, where the (positive) endowment effect becomes stronger.

Item Type: Conference or Workshop Item (Paper)
Faculty: Staffordshire Business School > Business and Marketing
Event Title: British Academy of Management 2013 Conference
Event Location: Liverpool, UK
Event Dates: 10-12 September 2013
Depositing User: Frederick NYAKUDYA
Date Deposited: 22 Dec 2021 14:29
Last Modified: 24 Feb 2023 14:02

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