A double-edged sword: The effects of R&D intensity and capitalization on institutional investment in entrepreneurial firms.

Studies show that research and development (R&D) may not always benefit entrepreneurial firms. This paper focuses on the double-edged effect of R&D activities on attracting institutional investment in entrepreneurial firms. Based on a panel dataset of 700 listed entrepreneurial firms in ChiNext, we document: (1) an inverted-U relationship between R&D intensity and future institutional investment, which we argue is evidence that institutional investors are concerned about R&D overinvestment; (2) an inverted-U relationship between R&D capitalization and future institutional investment, which we argue shows suspicion of the institutional investors towards high R&D capitalization.

The Role of Experience and Gender in Founders' Business Planning Activities: A Meta Analysis.

The question of why entrepreneurs undertake business planning activities differently, ranging from planning "in the head" to generating formal written documents, is still impenetrable. Aggregating data on 11,064 observations from 32 independent data set, this study meta-analyzed how business experience and gender influence entrepreneurs' disposition to business planning behaviors. Surprisingly, contradictory to some extant views that entrepreneurs without prior experience are more likely to make business plans, we found that both managerial experience and entrepreneurial experience positively influence entrepreneurs' subsequent business planning behaviors.

Online or Offline? How Smog Pollution Affects Customer Channel Choice for Purchasing Fresh Food.

Due to fresh foods' unique characteristics, where quality, freshness, and perishability are the main concerns, consumers are more inclined to choose offline channels for purchasing foods. However, it is not well-understood how these behaviors are affected by the adverse external environment, e.g.

"I Invest by Following Lead Investors!" The Role of Lead Investors in Fundraising Performance of Equity Crowdfunding.

Psychological factors play a critical role in affecting investor decisions. This study explores how lead investors influence following investors psychologically, thus affecting fundraising performance of equity crowdfunding. We draw upon the signaling theory and observational learning theory to argue that following investors could be induced to invest in a project if they observe the proportion of funding by lead investors in the funding target to be high, that the lead investors have rich investment experience, and that the lead investors can offer help to the projects.

Which Role Model Is More Effective in Entrepreneurship Education? An Investigation of Storytelling on Individual's Entrepreneurial Intention.

Entrepreneurial stories, such as the breathtaking experience of Steve Jobs, are often adopted as an effective teaching instrument to promote individuals' entrepreneurial intentions in entrepreneurship education. Prior research highlights the role model's influence and the positive effect of entrepreneurial stories, which is taken for granted in many circumstances. Since most research has treated storytelling in teaching as an undifferentiated whole, few researchers have teased out the distinctive effect of different types of entrepreneurial stories, namely that between successful stories and failure stories, and between idol stories and peer stories.