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1、DOESVENTUREOPPORTUNITYVARIATIONMATTER?INVESTIGATINGSYSTEMATICPROCESSDIFFERENCESBETWEENINNOVATIVEANDIMITATIVENEWVENTURESMikaelSamuelssonStockholmSchoolofEconomicsAndJönköpingInternationalBusinessSchoolPOBox6501,11383Stockholm,Swedene-mail:mikael.samuelsson@hhs.sePerDavids
2、sonBrisbaneGraduateSchoolofBusinessatQueenslandUniversityofTechnologyandJönköpingInternationalBusinessSchoolGPOBox2434Brisbane,4001QLD,Australiae-mail:per.davidsson@qut.edu.auABSTSRACTThecentralthesisinthepaperisthattheventurecreationprocessisdifferentforinnovativevs.imi
3、tativeventures.Thisholdsup:thepaceoftheprocessdiffersbytypeofventureasdo,inlinewiththeory-basedhypotheses,theeffectsofcertainhumanandcapitalpredictors.Importantly,andsomewhatunexpectedly,thetheoreticallyderivedmodelsusingHC,SCandcertaincontrolsarerelativelysuccessfulfore
4、xplainingprogressinthecreationprocessfortheminorityofinnovativeventures,butachieveverylimitedsuccessfortheimitativemajority.Thismaybeduetoarationalisticbiasinconventionaltheorizingandsuggeststhereisneedforconsiderabletheoreticaldevelopmentregardingtheimportantphenomenono
5、fnewventurecreation.Anotherimportantresultisthatthebuildingupofinstrumentalsocialcapital,whichweassesscomprehensivelyandasatimevariantconstruct,isimportantformakingprogresswithbothtypesofventures,andincreasinglysooverthedurationoftheprocess.Thisresultcorroborateswithstro
6、ngeroperationalizationandmoreappropriateanalysismethodwhatpreviouslypublishedresearchhasonlybeenabletohintat.1DOESVENTUREOPPORTUNITYVARIATIONMATTER?INVESTIGATINGSYSTEMATICPROCESSDIFFERENCESBETWEENINNOVATIVEANDIMITATIVENEWVENTURESABSTRACTThecentralthesisinthepaperisthatth
7、eventurecreationprocessisdifferentforinnovativevs.imitativeventures.Thisholdsup:thepaceoftheprocessdiffersbytypeofventureasdo,inlinewiththeory-basedhypotheses,theeffectsofcertainhumanandcapitalpredictors.Importantly,andsomewhatunexpectedly,thetheoreticallyderivedmodelsus
8、ingHC,SCandcertaincontrolsarerelativelysuccessfulforexplainingprogressinthecreationprocessfortheminorit
