Getting schooled: Universities and VC-backed immigrant entrepreneurs

This paper analyzes how US universities contribute to the quantity and quality of VC-backed immigrant entrepreneurship in the US. Using a novel data set that identifies immigration status and education history for the near-universe of VC-backed founders in the US, we document several interrelated facts. First, immigrants contribute disproportionately to US VC-backed entrepreneurship, accounting for approximately 20 % of VC-backed companies. More than 75 % of these immigrant entrepreneurs obtained post-secondary education in the US, which suggests that higher education represents a primary entry channel for foreign entrepreneurial talent into the country. Given these facts, we assess how universities shape both the geographic distribution and the quality of immigrant entrepreneurship. Close to 40 % of US-educated immigrants start a company in the state of their alma mater, suggesting that place of education substantially impacts immigrant entrepreneurs' startup location choice. Regarding firm quality, immigrant founders are also more likely to found financially successful and scientifically innovative startups than their US-born counterparts. Altogether, the results suggest that foreign students educated in US universities substantially contribute to local and national VC-backed entrepreneurship, thereby identifying higher education's global scope as a potential tool to attract entrepreneurial talent and encourage entrepreneurial growth.     

首次创业失败的烙印效应与消退机制

首次创业失败会对连续创业产生怎样的影响？创业失败的负向烙印效应如何消褪？本研究探索首次创业失败的烙印效应与消褪机制,并运用中国劳动力动态调查的跨区域数据进行实证检验。研究发现,首次创业失败对连续创业具有负向影响;但创业者越年轻、创业失败持续时长越短、失败时处于企业成长期,以及当失败发生在社会环境宽容和支持的区域,首次创业失败者更容易重整旗鼓、连续创业。本研究拓展和补充了烙印理论在创业失败领域的应用,对创业者走出失败藩篱、东山再起具有实践意义,对政府推动高质量创业活动也具有启发。     

How does late-career entrepreneurship relate to innovation?

In this paper, we present an explorative study that develops our understanding of the relationship between late-career entrepreneurship and innovation-driven business activity. Based on observations of 2903 solo founders of new ventures in Germany in 2008–2017, we offer first and robust evidence that late-career entrepreneurs (~50 years and above) are more likely than younger founders to introduce product/service innovations that are ‘new to the market’. Our explorations specifically reveal that older founders who draw on personal financial resources and combine their innovation orientation with prior managerial experience are most likely to generate the types of innovations that bring new products or services to the market. We conclude by discussing how our study's insights contribute to the research agenda on innovations in late-career entrepreneurship.     

家庭创业资本能促进农村女性创业吗？——宗族网络和数字普惠金融的调节作用

农村女性创业因其性别身份和特殊创业处境，是创业研究领域的重要现象。相较于其他群体，农村女性的创业行动受到更多家庭因素的影响，但对家庭创业资本与农村女性创业之间的关联，目前还缺乏深入的实证研究。通过“中国家庭追踪调查（CFPS）”数据，实证分析了家庭创业资本对于农村女性群体创业进入的影响，验证了农村女性创业行为的社会地位提升效果。研究发现，农村女性的家庭创业资本对其创业进入具有显著的正向影响；与农村非创业女性相比，农村女性创业能够提升其社会地位；宗族网络强度和普惠金融水平分别负向和正向调节家庭创业资本对于农村女性创业的影响。研究结论从家庭视角进一步完善了农村女性创业相关研究，从实践方面为优化农村女性创业政策提供了经验证据。     

创业期望、风险恐惧与新生企业家的创业行为——基于调节聚焦理论

随着“大众创业、万众创新”战略部署的推进,我国国民的创业热情被点燃。但是,我国的创业政策和生态环境仍不够完善,使得很多创业者处于“临渊羡鱼”的观望状态。因此,迫切需要探讨创业期望和风险恐惧对新生企业家创业行为的影响机制。本文基于调节聚焦理论,解析了创业期望对新生企业家创业行为的影响机制,并探究了风险恐惧对新生企业家创业行为的影响机制。研究结果表明：新生企业家的创业期望越高,其创业积极性也就越高,并且会采取积极的创业投资行为。风险恐惧会降低新生企业家的创业倾向,但是个体一旦选择了创业行为后,风险恐惧对新生企业家创业投资行为的影响取决于其创业期望水平。当新生企业家创业期望水平较高时,风险恐惧的增加会驱动新生企业家萌发促进聚焦的调节机制,此时积极投资将处于主导地位,因此新生企业家会实施积极的投资行为。但是如果创业期望水平较低时,风险恐惧的增加会催生新生企业家产生预防聚焦的调节机制,此时害怕失败将处于主导地位,因此新生企业家会减少创业投资。     

Employees' entrepreneurial human capital and firm performance

We introduce a new measure of human capital, defined as employees' former involvement in entrepreneurship. Such entrepreneurial human capital (EHC) complements traditional human capital measures accumulated through work experience and education. Using detailed longitudinal register data, we track the previous years of entrepreneurial experience for the population of employees in Swedish private sector firms. We provide evidence that higher EHC among employees is associated with significantly higher levels of firm productivity. The baseline result implies that a 10 % increase in employees being former entrepreneurs increases firm-level productivity by 3.9 %. Additionally, we provide evidence that heterogeneity in employees' previous entrepreneurial experience (e.g., the reason for entering and exiting entrepreneurship, type of venture, length of entrepreneurial experiences, and relatedness of technology) influences the impact of EHC on productivity. The results are shown to be robust to various estimation techniques, alternative definitions of EHC, and other performance measures.     

职业院校学生创业能力培养研究

近年来大学生创业问题越来越受社会的关注。一方面大学生属于高知识人群,背负着一定的社会期望;另一方面,创业也成为破解大学生就业难题的有效途径,尤其是职业院校。本文通过对本地4所职业院校500名学生创业能力现状的调查研究,分析职业院校学生创业能力现状以及学生创业存在的问题,探析学生创业能力开发与培养的有效途径。     

The persistence of entrepreneurship and innovative immigrants

Ethnicity and immigration status may play a role in entrepreneurship and innovation, yet the impact of university entrepreneurship education on this relationship is under-explored. This paper examines the persistence and differences in entrepreneurship by ethnicity and nationality. We find that among Stanford alumni, Asian Americans have a higher rate of entrepreneurship than white Americans. However, non-American Asians have a substantially lower, about 12% points lower, start-up rate than Asian Americans. Such discrepancy not only holds for entrepreneurial choice but also for investing as an angel investor or venture capitalist, or utilizing Stanford networks to find funding sources or partners. Participation in Stanford University’s entrepreneurship program as a student does little to reduce this gap. The low level of parental entrepreneurship and the high degree of intergenerational correlation in entrepreneurship likely result in the lower level of entrepreneurship and participation in university entrepreneurship programs among Asians relative to their Asian American counterparts. Our findings highlight the value of immigration in terms of breaking the persistence in entrepreneurship among certain ethnic groups and promoting potential high-growth entrepreneurship in the United States. In addition, our findings may have important implications for programs to incorporate immigrant entrepreneurs within their home countries to promote entrepreneurship and help break the persistence of entrepreneurship across generations.     

学术创业：研究综述与展望

    以1980至2020年发表的相关文献为基础,对学术创业的研究内容进行梳理,内容如下：（1）总结了已有研究中常用的学术创业概念和分类;（2）围绕学术创业主体,重点阐述了个体层面学术创业活动的研究成果;（3）对学术创业领域常用的理论及其适用问题进行了诠释;（4）从社会经济和基础科学两个方面介绍了学术创业的影响;（5）提出学术创业的研究展望,即关注数智经济阶段学术创业类型的变化、拓展学术创业研究的理论视角、扩充学术创业的研究主题以及在进一步完善国内学术创业研究体系的同时,深化中国制度背景下学术创业问题的探索,如儒家文化环境中的学术创业动机,不同地区/省份的学术创业差异等。通过对已有研究的梳理,为中国学术创业的研究和发展提供了参考。     

高校大学生创造力对创业意愿的影响研究

以温州4所本科高校的605名在校生为研究对象,主要探讨大学生创造力、创业自我效能感、创业态度、感知控制以及主观规范对其创业意愿的影响。采用问卷调查的方式获取数据,应用Spss20.0对数据进行描述性分析和探索性分析,应用Amos22.0对数据进行验证性因子分析,最终得出创造力对创业意愿有显著性影响,创业自我效能感对感知行为控制有显著性影响,感知行为控制、主观规范及创业态度对创业意愿有显著影响,因此创业教育应该关注对学生创造力的培养,并增强其自身创业效能感,在提高其创业意愿的同时,也提升创业质量。     

基于技术轨道的新创企业创业导向决策

创业是企业发展的一种重要战略，以获取新技术、实现新业务创建为目的的创业导向并购逐渐成为了新创企业主要的战略实施方式。鉴于新创企业的发展具有技术依赖性，且董事会的构成较为特别，本文选取了2012年12月31日前在中国创业板上市的公司为研究对象，采集了截止到2015年12月的并购数据，通过回归分析，实证检验了不同技术轨道下新创企业董事会中创始人开放性和机构投资者参与对企业创业导向战略决策的影响。结果表明：在新创企业中，创始人开放性和机构投资者参与均能显著正向影响企业创业导向战略决策，且二者之间具有互补效应。进一步发现，企业所处的技术轨道不同，以上作用效果不同。在供应商主导和规模密集型企业中，创始人开放性与机构投资者参与的交互作用不显著；在信息密集型和专业化供应商企业中，创始人开放性与机构投资者参与具有显著的互补效应；在基于科学的企业中，机构投资者参与对企业的创业导向战略决策具有负向的影响。     

创业倾向影响路径的性别差异研究

本文研究创业倾向的性别差异,在理论分析的基础上建立研究框架,构建结构方程模型,并以北京高校大学生作为实证研究对象,定量探讨人际关系、前瞻性人格、创业态度和创业能力对创业倾向的影响。研究发现,男性创业倾向的各条影响路径均高于女性,且人际关系在其中发挥重要作用。本文的理论贡献在于明确了这些变量之间相互影响的机制和路径,阐明女性创业倾向的形成路径,以及不同性别创业倾向影响路径的差异,对于女性创业教育的研究和实践具有重要意义。     

Entrepreneurs from technology-based universities: Evidence from MIT

This paper analyzes major patterns and trends in entrepreneurship among technology-based university alumni since the 1930s by asking two related research questions: (1) Who enters entrepreneurship, and has this changed over time? (2) How does the rate of entrepreneurship vary with changes in the entrepreneurial business environment? We describe findings based on data from two linked datasets joining Massachusetts Institute of Technology (MIT) alumni and founder information. New company formation rates by MIT alumni have grown dramatically over seven decades, and the median age of first time entrepreneurs has gradually declined from about age 40 (1950s) to about age 30 (1990s). Women alumnae lag their male counterparts in the rate at which they become entrepreneurs, and alumni who are not U.S. citizens enter entrepreneurship at different (usually higher) rates relative to their American classmates. New venture foundings over time are correlated with measures of the changing external entrepreneurial and business environment, suggesting that future research in this domain may wish to more carefully examine such factors.     

欧盟包容性创业政策研究及借鉴

借鉴欧盟促进不同边缘群体创业的多维举措,推进中国"双创"活动开展。调研欧盟面向妇女、老年人、移民群体的创业激励举措,研究发现欧盟及其成员国通过法律保障、促进信息交换、设立专门孵化器、破除资金壁垒等方式,有效促进了边缘群体企业家的产生。吸取欧盟的先进经验,结合实际提出建议如下:中国应设立专门面向边缘群体的创业孵化器或前孵化器;建立专门面向边缘群体的公益性创业教育平台;加强面向边缘群体的创业经验分享和创业精神培养;为老年人创业提供资金支持,并促进代际创业交流。     

新创企业创业政策效果模型构建及评估：“供-需”匹配和感知价值视角

    基于创业者对创业政策的认知和利用现状,从供需匹配和感知价值两个角度入手,构建了“认知-利用”落差情境下的创业政策效果评估模型,并选取浙江杭州、宁波和台州地区236家新创企业进行验证。结果显示：（1）“供需匹配”和感知价值失调既是现阶段中国创业政策“认知-利用”落差产生的直接原因,也是影响中国创业政策实施效果的重要因素;（2）“供-需”匹配度除了对创业政策的实施效果形成直接的调节作用外,还通过感知价值对其产生间接的调节作用：高供需匹配度比低供需匹配度、高感知价值比低感知价值更能推动创业绩效的提升;（3）对新创企业而言,创业政策的效果更多地体现在成长绩效上,其对生存绩效的促进作用有限。研究结论对政府优化创业政策,增强创业政策的实施效果具有指导意义。     

Open source software and global entrepreneurship

This is the first study to consider the relationship between open source software (OSS) and entrepreneurship around the globe. This study measures whether country-level participation on the GitHub OSS platform affects the founding of innovative ventures, and where it does so, for what types of ventures. We estimate these effects using cross-country variation in new venture founding and OSS participation. We propose an approach using instrumental variables, and cannot reject a causal interpretation. The study finds that an increase in GitHub participation in a given country generates an increase in the number of new technology ventures within that country in the subsequent year. The evidence suggests this relationship is complementary to a country's endowments, and does not substitute for them. In addition to this positive change in the rate of entrepreneurship, we also find a change in direction—OSS contributions lead to new ventures that are more mission- and global-oriented and are of a higher quality. Together, the results suggest that OSS can boost entrepreneurial activity, albeit with a human capital prerequisite. Finally, we consider the implications for policies that encourage OSS as a lever for stimulating entrepreneurial growth.     

高校创业教育对新生代员工内部创业行为的滞后效应研究

以往针对高校创业教育效果评价的研究主要关注大学生毕业后的自主创业比率。然而,许多在大学期间接受过良好创业教育的学生毕业后并不会立即自主创业,而是在所就职企业工作一段时间后进行内部创业。可见,高校创业教育效果具有明显的滞后效应。本研究基于人力资本理论和成就动机理论,选取大学毕业后工作年限在5年以内的新生代员工作为研究对象,探讨了这类新生代员工所接受的高校创业教育对他们在所就职企业的内部创业行为的影响机制。基于280份有效样本的实证分析结果表明：高校创业教育对新生代员工的成就需要、内部创业行为具有显著正向影响;成就需要在高校创业教育和内部创业行为的关系之间起到了中介作用;公司创业导向对成就需要和内部创业行为之间的关系起到了正向调节作用。     

Spin doctors vs the spawn of capitalism: Who founds university and corporate startups?

We compare individuals presently employed either at a university, or at a firm from an R&D-intensive sector, and analyze which of their personal-specific and employer-specific characteristics are related to their choice to leave their present employer for an own startup. Our data set combines the population of Danish employees with their present employers. We focus on persons who at least hold a Bachelor's degree in engineering, sciences and health and track them over 2001-2012. We show that (i) there are overall few differences between the characteristics of university and corporate startup entrepreneurs, (ii) common factors associated with startup activity of both university and corporate employees are education, top management team membership, previous job mobility and being male, (iii) it is primarily human capital-related characteristics that are related to startup choice of university employees while (iv) the characteristics of the present workplace are the foremost factors of entrepreneurial activity by corporate employees.     

基于SWOT理论视角的天津市大学生科技创业支持系统建构研究

在“大众创业,万众创新”的背景下,大学生创新创业已经成为大学生面临的机会,科技创新创业尤其成为大学生首要或必然的选择。对于天津市大学生来说科技创业既有机遇又有挑战,制约天津市大学生科技创业的主要因素是科技创业支持系统的问题。通过对天津市大学生科技创业支持系统的分析,运用SWOT分析法对天津市大学生科技创业支持系统的优势与劣势及面临的机遇与挑战进行分析,结合天津市实际情况,提出天津市大学生科技创业支持系统建构的措施。