Personal determinants of early-stage strategic entrepreneurship: an empirical comparison of Vietnam and Taiwan
Abstract
Purpose
This research explores how individual factors drive early-stage strategic entrepreneurship (SE) in Vietnam and Taiwan. The authors extend SE and integrate knowledge spillover theory to gain insights into the relationship between individual factors and SE. The research highlights the importance of a dual process, which involves advantage-creating by innovation, as value creation and capture, and advantage-leveraging by growth and international expansion, as value retention and capture.
Design/methodology/approach
Innovation-oriented SE (ISE), growth-oriented SE (GSE) and internationalization-oriented SE (ITSE) are identified as new measures of SE. There are six hypotheses containing the effect of six personal characteristics have on SE. The authors employed logit regression to estimate the effect of independent variables on SE based on a pooled cross-sectional dataset drawn from Global Entrepreneurship Monitoring (GEM) in Vietnam and Taiwan during 2013–2018.
Findings
Opportunity sensing, education, self-funding ability, startup knowledge and skills and startup experience are crucial to the engagement of at least one type of SE in Vietnam. In contrast, education, self-funding ability and start-up knowledge and skills are key factors in Taiwan.
Originality/value
This study contributes to the extension of SE at the individual level in the early phase of new venturing and the integration of knowledge spillover theory. In order to drive early-stage SE further, the authors recommend to prioritize learning from spillovers within and among organizations, industries and communities, as well as through quality institutions, in addition to the individual drivers.
Keywords
Acknowledgements
Since acceptance of this article, the following author(s) have updated their affiliations Huy Cuong Vo Thai is at the University of Finance - Marketing, Ho Chi Minh City, Vietnam.
The first and second authors contribute equally to the manuscript.
Research funding: The authors received no financial support for the research, authorship, and/or publication of this article.
Plain language summary: 1. Opportunity sensing, education, self-funding ability, startup knowledge and skills, and startup experience are key personal factors to the new venturing in Vietnam, while education, financing ability and start-up knowledge are key drivers in Taiwan. 2. Advantage-creating by innovation and advantage-leveraging by growth or international expansions are crucial to value creation and capture in early-stage strategic entrepreneurship. 3. Knowledge spillover can out weight the influence of personal drivers on the new venturing.
Ethics statement: The authors declare no use of human subjects, human data or tissues, or animals concerning the studies of this article.
Declaration of conflicting interests: The authors declare no potential conflicts of interest with respect to the research, authorship, and/or publication of this paper.
Citation
Lo, S., Tran, M.-L., Chen, P.-F. and Vo Thai, H.C. (2023), "Personal determinants of early-stage strategic entrepreneurship: an empirical comparison of Vietnam and Taiwan", International Journal of Emerging Markets, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/IJOEM-02-2022-0316
Publisher
:Emerald Publishing Limited
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