Abstract:
Despite Shane & Venkataraman’s (2000) call for studies on the interdependence of entrepreneurs
and “opportunities”, empirical research going beyond the individual to explore the non-actor part
of the “entrepreneurship nexus”, as well as the interplay between both, remains scarce (Davidsson
forthcoming; Grégoire & Shepherd 2012). Replacing objective “opportunities” with subjective
new venture ideas as the nexus partner, our study addresses this critical gap in the literature.
Specifically, we investigate the contingent relationships through which the novelty of new venture
ideas influences nascent ventures’ ability to get established in the market. Highly novel new
venture ideas represent a key source of economic development, as they imply greater potential for
growth and high profits (Rosenbusch et al. 2011). However, novelty also increases the uncertainty,
complexity and liabilities related to the venture creation process (Samuelsson & Davidsson 2009).
This tension has recently led to a debate on the performance implications of novelty in the context
of new ventures (e.g., Amason et al. 2006, Boyer & Blazy 2013). We advance this emerging stream of
research by focusing on nascent ventures (avoiding survival bias) and by disentangling mediating
and moderating contingencies pertaining to the novelty-performance relationship.
