Hidden ties in international new venturing: The case of portfolio entrepreneurship

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Title Hidden ties in international new venturing: The case of portfolio entrepreneurship
Author McGaughey, Sara
Journal Name Journal of World Business
Year Published 2007
Place of publication United Kingdom
Publisher Elsevier
Abstract A hitherto neglected phenomenon in international new venturing is portfolio entrepreneurship, which occurs when entrepreneurs found, own, manage and control more than one business at a time, with ownership of the new venture being distinct from that of the existing business ventures. This study introduces the phenomenon of portfolio entrepreneurship in international new venturing through a longitudinal study of a cluster of small and medium enterprises (SMEs) in Tasmania, Australia, where 6 of 11 firms in the cluster were international new ventures (INVs). The pattern of international portfolio entrepreneurship pursued by the Tasmanian entrepreneurs and coupling between firms is described. Key findings include the ability of portfolio entrepreneurs to leverage high-discretion slack resources, positive legitimacy spillovers, and learning effects and experimentation across loosely coupled INVs in the portfolio. The findings also identify dysfunctional elements of portfolio entrepreneurship, and cast doubt over the conventional use of 'the firm' as the focal unit of analysis in INV studies. A particular contribution of this study is to remind us of the richness and pluralism inherent in international new venturing.
Peer Reviewed Yes
Published Yes
Alternative URI http://dx.doi.org/10.1016/j.jwb.2007.04.011
Volume 42
Issue Number 3
Page from 307
Page to 321
ISSN 1090-9516
Date Accessioned 2012-07-06
Language en_US
Research Centre Griffith Asia Institute
Faculty Griffith Business School
Subject International Business
URI http://hdl.handle.net/10072/47403
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1x

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