Entrepreneurship & Innovation Research

University of Tennessee, Knoxville, faculty and doctoral students conduct world-class research to develop solutions and actionable knowledge concerning everyday problems faced by entrepreneurs and innovators in order to provide guidance for current entrepreneurs and to prepare the next generation. Our research builds a foundation of knowledge that informs today’s classrooms so students can improve their ability to start, run and generate value from a new company.

Key knowledge areas of our UT faculty include:

(1) Deciding which opportunity(ies) to pursue

  • Waiting and seeing what happens when a key change happens in the ecosystem can bring “second mover” advantages, if there is a bite left on the apple. (Williams)
  • Deciding not to act on a potential opportunity can bias future decisions on future opportunities. (Williams)
  • Past decisions can be difficult to escape and may require a new perspective to break free from the past. (Williams)
  • Choosing the “right” opportunity is an important mix of characteristics of the opportunity, your own strengths and weaknesses, and the ecosystem in which you are embedded. (Williams)
  • That ecosystem includes the legal and regulatory landscape relating to potential participants and business partners as well as the opportunity itself. (Heminway; Krumm)
  • Anticipated/planned funding sources also factor into determining whether to pursue a particular opportunity. (Heminway)
  • Business lawyers of various types, including corporate finance lawyers, may provide key counsel in the decision-making process. (Heminway; Krumm)

A sample of UT faculty publications in this area:

(2) Moving from an idea to a startup

  • When properly vetted and executed upon, ideas form the foundation for launching a successful firm. (Williams)
  • Legal advisors offer important counsel on entity choice and structuring at this stage. (Heminway; Krumm)
  • Starting a new firm can be a long and bumpy road; overcoming “stage-gate” barriers can be the key to getting past a stalled startup effort. (Williams)

A sample of UT faculty publications in this area:

  • Mathias, B. D., Williams, D. W., & Smith, A. R. (2015). Entrepreneurial inception: The role of imprinting in entrepreneurial action. Journal of Business Venturing, 30(1), 11-28.
  • Meek, W.R. & Williams, D.W. (2018). Venture Creation Persistence: Overcoming Stage Gate Issues. International Journal of Entrepreneurial Behavior & Research, 24(5): 1016-1035: https://www.emeraldinsight.com/doi/full/10.1108/IJEBR-08-2016-0270. 
  • Wood, M. S., Williams, D. W., & Grégoire, D. A. (2012). The road to riches? A model of the cognitive processes and inflection points underpinning entrepreneurial action. In Entrepreneurial Action (pp. 207-252). Emerald Group Publishing Limited.

 (3)   Going to market (successfully!)

  • Harness structured and unstructured Big Data to enhance innovation and sales practice. (Bharadwaj)
  • Find a way to broadcast “quality signals” to generate product demand. (Bharadwaj)
  • Moving into a new market first can build reputation and market share but is extremely risky unless firms find ways to understand potentially hidden challenges. (Williams)
  • Even if you are first, other (follower) firms can build firm competitive positions very quickly, highlighting the need to continue to build on the initial position. (Miller)
  • Develop a vivid brand image because it drives consumer purchases. (C. Noble)
  • With new product introductions, firms need to develop emotionally appealing products. (Noble)
  • Understanding the federal and state tax policies in place impacts startup, growth and survival. (Bruce)
  • Entering international markets requires the right mix of timing, strategy and market choice. (Williams)
  • A properly timed IPO can fuel firm growth and survival via internationalization. (Williams)

A sample of UT faculty publications in this area:

  • Beem, R., & Bruce, D. (2021), “Failure to Launch:  Measuring the Impact of Sales Tax Nexus Standards on Business Activity,” Journal of Public Economics 201(September): 104476.
  • Bharadwaj, N., Noble, C.H., Tower, A., Smith, L.M., & Dong Y. (2017), “Predicting Innovation Success in the Motion Picture Industry: The Influence of Multiple Quality Signals,” Journal of Product Innovation Management, 34 (5), 659-680.
  • Bruce, D., & Deskins, J. (2012), “Can State Tax Policies Be Used to Promote Entrepreneurial Activity?” Small Business Economics 38(4): 375-397.  
  • Bruce, D., & Glenn, B. (2016), “Does the Tax System Measure and Encourage the Right Kind of Entrepreneurial Activity? An Updated Look at the Time Series Data,” Tax Law Review 69(3): 389-418.
  • Bruce, D., Deskins, J., & Gurley-Calvez, T. (2014), “Depreciation Rules and Small Business Longevity,” Journal of Entrepreneurship and Public Policy 3(1): 10-32.
  • Bruce, D., Glass, E., & Harris, M.C. (2019), “On the Effectiveness of State Tax and Expenditure Policies to Encourage Entrepreneurship,” Journal of Entrepreneurship and Public Policy 8(4): 523-548.
  • Bruce, D., Gurley-Calvez, T., & Norwood, A. (2020), “Taxes and Entrepreneurship:  A Literature Review and Research Agenda,” Foundations and Trends in Entrepreneurship 16(5): 393-443.
  • Bruce, D., Liu, X., & Murray, M. (2015), “State Tax Policy and Entrepreneurship,” National Tax Journal 68(3S):  803-837.
  • Bruce, D., Rork, J., and Wagner, G. (2014), “State Income Tax Reciprocity Agreements and Small Businesses,” Journal of Entrepreneurship and Public Policy 3(1): 118-140.
  • Gurley-Calvez, T., & Bruce, D. (2013), “Do Tax Rate Cuts Encourage Entrepreneurial Entry?” Journal of Entrepreneurship and Public Policy 2(2): 178-202.
  • Kiss, A.N., Williams, D.W., & Houghton, S.M. (2013). Risk Bias and the Link Between Motivation and New Venture Post-Entry International Growth. International Business Review, 22(6): 1068-1078.
  • Williams, D.W., & Crook, T. R. (2021). Unpacking the age at initial internationalization-performance relationship: A meta-analytic investigation. Journal of Business Venturing Insights, 15 e00210: 1-13: https://doi.org/10.1016/j.jbvi.2020.e00210. 
  • Williams, D.W., & Grégoire, D.A. (2015). Seeking Commonalities or Avoiding Differences? Re-Conceptualizing Distance and Its Effects on Internationalization Decisions. Journal of International Business Studies, 46(3): 253-284.
  • Yan, J., & Williams, D.W. (2021). Timing is Everything? Curvilinear Effects of Age at Entry on New Firm Growth and Survival and the Moderating Effect of IPO Performance. Journal of Business Venturing, 36(5) 10620: 1-18: https://doi.org/10.1016/j.jbusvent.2020.106020. 

(4) Navigating and selecting funding and financing

  • Perceptions of passion come from being intense in a pitch, whether positive or negative, while only negative intensity leads to investors believing the entrepreneur is prepared, which prompts funding. (Cardon)
  • While demonstrating passion for the product or business usually helps improve investment potential from angels and crowdfunders, this is not always the case, such as when entrepreneurs demonstrate passion without good preparation or “skin in the game.” (Cardon)
  • Technology‐based IPO firms are less likely to have extensive global sales when they are backed by a VC. IPO firms with significant insider ownership are global risk‐seekers, and those effects are strongest with an internationally seasoned board and TMT at the helm. (Pollock)
  • Angel investors utilize different decision criteria to decide whether to fund an entrepreneur; how entrepreneurs pitch their ideas and themselves to angels impacts their ability to get funding. (Cardon; Roccapriore; Crook)
  • Crowdfunders’ investment criteria are very different from those of angels, and angel criteria are very different from those of VCs.  We can help entrepreneurs navigate these different funding opportunities. (Cardon, Pollock, Roccapriore)
  • Securities crowdfunding offers legal and regulatory advantages and challenges. (Heminway)
  • Early involvement in an IPO firm’s development strengthens the relationship between a VC’s reputation and both initial market reactions and post-IPO operating performance. (Pollock)
  • Who underwriters sell your shares to matters — underwriters who have built embedded relationships with investors and sell them shares in firms’ IPOs decrease the likelihood the firm will fail after it goes public. (Pollock)
  • Impact investing is rapidly becoming a key funding source. (Jones)

A sample of UT faculty publications in this area:

  • Allison, T., Warnick, B., Davis, B., & Cardon, M.S. In press. Can you hear me now? Engendering passion and preparedness perceptions through vocal expressions in funding pitches. Journal of Business Venturing.
  • Cardon, M. S., Mitteness, C., & Sudek, R. (2017). Motivational cues and Angel Investing: interactions among enthusiasm, preparedness, and Commitment. Entrepreneurship Theory and Practice, 41(6), 1057-1085.
  • Carpenter, M.A., Pollock, T.G. & Leary, M.M. (2003). Governance, the experience of principals and agents, and global strategic intent: Testing a model of reasoned risk taking. Strategic Management Journal, 24: 803-820.
  • Cassanovas, G., & Jones, J. (2022). Who has a seat at the table in impact investing? Addressing inequality by giving voice. Journal of Business Ethics, 179, 951–969 (2022). 
  • Fischer, H.M. & Pollock, T.G. (2004). Effects of social capital and power on surviving transformational change: The case of initial public offerings. Academy of Management Journal, 47(4): 463-481.
  • Gomulya, D., Jin, K. Lee, P.M. & Pollock, T.G. 2019. “Crossed Wires: Endorsement signals and the effects of IPO firm delistings on venture capitalists’ reputations” Academy of Management Journal,62(3): 641-666.
  • Heminway, J.M. (2014). How Congress Killed Investment Crowdfunding: A Tale of Political Pressure, Hasty Decisions, and Inexpert Judgments That Begs for a Happy Ending. Kentucky Law Journal, 102(4), 865-889, https://uknowledge.uky.edu/cgi/viewcontent.cgi?article=1117&context=klj. 
  • Heminway, J.M. (2017). Selling Crowdfunded Equity: A New Frontier. Oklahoma Law Review, 70(1), 189-213, https://digitalcommons.law.ou.edu/cgi/viewcontent.cgi?article=1314&context=olr. 
  • Heminway, J.M. (2021). “The Legal Regulation of U.S. Crowdfunding: An Organically Evolving Patchwork” in Legal Aspects of Crowdfunding (Caroline Kleiner, ed.), 271-290. Springer Publishing.
  • Jones, Jessica, and Embry, Elizabeth. (2021). Exploring impact investing’s emergence in the philanthropic sector. In O. M. Lehner (Ed.), A Research Agenda for Social Finance (pp. 11–36). Edward Elgar Publishing.
  • Mitteness, C., Sudek, R., & Cardon, M.S. (2012). Angel investor characteristics that determine whether perceived passion leads to higher evaluations of funding potential, Journal of Business Venturing, 27 (5): 592-606
  • Murnieks, C.Y., Cardon, M.S., Sudek, R., White, T.D., & Brooks, W.T. (2016).  Drawn to the fire: The role of passion, tenacity, and inspirational leadership in angel investing. Journal of Business Venturing, 31(4): 468-484.
  • Pollock, T. G., & Gulati, R. (2007). Standing out from the crowd: The visibility-enhancing effects of IPO-related signals on alliance formation by entrepreneurial firms. Strategic Organization, 5(4), 339-372.
  • Pollock, T. G., Fund, B. R., & Baker, T. (2009). Dance with the one that brought you? Venture capital firms and the retention of founder‐CEOs. Strategic Entrepreneurship Journal, 3(3), 199-217.
  • Roccapriore, A. Y., Imhof, Z., & Cardon, M. S. 2021. Badge of honor or tolerable reality? How previous firm failure and experience influences investor perceptions. Journal of Business Venturing Insights, 16: e00252.
  • Smith, B., Lawson, A., Jones, J., Holcomb, T., & Minnich, A. (2022). Trying to serve two masters is easy, compared to three: Identity multiplicity work by Christian impact investors. Journal of Business Ethics, 179, 1053-1070. 
  • Smith, B.R., Lawson, A., Jones, J., Holcomb, T., & Minnich, A. 2022. Trying to Serve Two Masters is Easy, Compared to Three: Identity Multiplicity Work by Christian Impact Investors. Journal of Business Ethics.

(5)   Assembling the right human capital in the team (co-founders and employees) 

  • Franchise companies (e.g., McDonald’s) can attract and retain better franchisees when they allow them to own multiple units. (Crook)
  • Startups need to hire diverse employees early in their growth, otherwise it will be too hard to attract them. (Cardon)
  • Effective functioning of entrepreneurial teams involves careful recruitment and management of team dynamics, including their alignment of individual passions. (Cardon)
  • Team diversity offers important performance benefits but can also hurt performance if not utilized properly. (Samba; Cardon)
  • Team coordination and diversity affect innovation performance. (Zhou; Cardon)
  • HR issues in small and new firms are unique, so entrepreneurs cannot just follow best practices from HR in larger and established firms. (Cardon)
  • CEO prestige (in terms of education, industry tenure and equity ownership) helps improve the chances of post-IPO survival, but powerful CEOs who hold dual CEO/chair title tend to reduce five-year, post-IPO survival. (Smith)

A sample of UT faculty publications in this area:

  • Bach, S. B., & Smith, A. D. (2007). Are powerful CEOs beneficial to post-IPO survival in high technology industries?: An empirical investigation. The Journal of High Technology Management Research, 18(1), 31-42.
  • Cardon, M. S. (2008). Is passion contagious? The transference of entrepreneurial passion to employees. Human resource management review, 18(2), 77-86.
  • Cardon, M. S., & Stevens, C. E. (2004). Managing human resources in small organizations: What do we know?. Human resource management review, 14(3), 295-323.
  • Cardon, M. S., Post, C., & Forster, W. R. (2017). Team entrepreneurial passion: Its emergence and influence in new venture teams. Academy of Management Review, 42(2), 283-305.
  • deMol, E., Cardon, M.S., deJong, B., Khapova, S., & Elfring, T. (in press). The influence of team passion diversity on performance in new venture teams: An empirical examination. Journal of Business Venturing.
  • Drnovsek, M., Cardon, M.S., & Patel, P. 2016. Direct and indirect effects of passion on growing technology ventures, Strategic Entrepreneurship Journal, 10(2): 194-213.
  • Engel, Y., Lewis, T., Cardon, M.S., & Hentschel, T. In Press. Signaling diversity debt: Startup gender composition and the gender gap in joiners’ interest. Academy of Management Journal
  • Gillis, W., McEwan, E., Crook, T. R., & Michael, S. 2011. Using tournaments to reduce agency problems: The case of franchising. Entrepreneurship Theory and Practice, 35(3): 427-447.
  • Lin, J., Madison, K., Kraiczy, N., Kellermanns, F. W., Crook, T. R., & Jing, X. 2017. Entrepreneurial team composition characteristics and new venture performance: A meta-analysis. Entrepreneurship: Theory and Practice, 41: 743-771.
  • Pieper, T. M., Smith, A. D., Kudlats, J., & Astrachan, J. H. (2015). The persistence of multifamily firms: Founder imprinting, simple rules, and monitoring processes. Entrepreneurship theory and practice, 39(6), 1313-1337.
  • Samba, C., Van Knippenberg, D., & Miller, C. C. (2018). The impact of strategic dissent on organizational outcomes: A meta‐analytic integration. Strategic Management Journal, 39(2), 379-402.
  • Santos, S.C. & Cardon, M.S. 2019. What’s love got to do with it? How team entrepreneurial passion influences performance of NVTs. Entrepreneurship: Theory & Practice, 43 (3): 475-504.
  • Van Lancker, E., Knockaert, M., Audenaert, M., & Cardon, M. (2021). HRM in entrepreneurial firms: A systematic review and research agenda. Human Resource Management Review, 100850.
  • Williams, D., Zorn, M., Crook, T. R., & Combs, J. G. 2013. Passing the torch: Factors influencing transgenerational intent in family firms. Family Relations, 62: 415-428.

 (6)   Understanding the trade-offs between performance and well-being

  • Burnout and exhaustion are real issues for entrepreneurs, and mindfulness training may help alleviate them. (Cardon)
  • There are very real trade-offs between financial performance and well-being. (Cardon, Munyon)
  • Entrepreneurship is stressful. (Cardon, Munyon, Williams)
  • Entrepreneurs handle stress better than non-entrepreneurs, but different types of stressors can either harm well-being or enhance firm performance. (Munyon, Williams)
  • Loneliness and suicide ideation is a real problem, and entrepreneurs do not always cope well with these issues. (Cardon, Arwine)

A sample of UT faculty publications in this area:

  • Lerman, M.P., Munyon, T.P., & Williams, D.W. (2021). The (Not So) Dark Side of Entrepreneurship: A Meta-Analysis of the Well-Being and Performance Consequences of Entrepreneurial Stress. Strategic Entrepreneurship Journal, 15(3): 377-402: https://doi.org/10.1002/sej.1370. 
  • Mmbaga, N.A., Lerman, M.P., Munyon, T.P., & Lanivich, S.E. (In press). Juggling act: Waged time investments and the health-wealth tradeoff of hybrid entrepreneurs. Journal of Business Research.
  • Murnieks, C.Y., Arthurs, J., Cardon, M.S., Farah, N., Stornelli, J., & Haynie, J.M. (in press). Close your eyes or open your mind: Effects of sleep and mindfulness exercises on entrepreneurs’ exhaustion. Journal of Business Venturing.

(7)   Growth and operational issues

  • Trying to do too much is a killer, especially for new firms; focus on building new products or services or building them more efficiently, but not both. (Crook)
  • Entrepreneurs can’t wear every hat, so if they want to grow, they need to delegate effectively and turn over many responsibilities to others. (Williams)
  • Developing processes to improve customer focus is key in ongoing buyer loyalty. (Bharadwaj)
  • Organizations need to balance between exploiting known markets and products and exploring new opportunities in order to be successful. (Crook)
  • Sales tax policies impact startups. (Bruce)
  • Ventures need to maintain distinctiveness from oppositional competitors while cooperating with those pursuing similar strategies. (Williams)
  • Understanding the legal issues involved in founding, formalizing, running and growing a venture is essential. (Heminway; Krumm)
  • Choosing where to locate a business can benefit from immigrants’ unique backgrounds. (Williams)
  • Founders’ early decisions (e.g., structuring) and the environmental conditions at founding each imprint upon a new venture in ways that affect growth and survival. (Williams)
  • Diversifying your product sets helps improve survival chances. (Gras)

A sample of UT faculty publications in this area:

  • Beem, R., & Bruce, D. (2021). Failure to launch: Measure the impact of sales tax nexus standards on business activity. Journal of Public Economics, 104476.
  • Bharadwaj, N., & Dong, Y. (2014). Toward further understanding the market‐sensing capability–value creation relationship. Journal of Product Innovation Management, 31(4), 799-813.
  • Bharadwaj, N., & Noble, C. H. (2015). Innovation in data‐rich environments. Journal of Product Innovation Management, 32(3), 476-478.
  • Gras, D., Conger, M., Jenkins, A, & Gras, M. (in press) Wicked problems, reductive tendency, and the formation of (non-) opportunity beliefs. Journal of Business Venturing.
  • Heminway, J.M. (2017). Shareholder Wealth Maximization as a Function of Statutes, Decisional Law, and Organic Documents. Washington and Lee Law Review, 74(2), 939-972, https://scholarlycommons.law.wlu.edu/wlulr/vol74/iss2/14/. 
  • Heminway, J.M. (2019). Lawyering for Social Enterprise. Transactions: The Tennessee Journal of Business Law, 20(3), 797-814, https://ir.law.utk.edu/transactions/vol20/iss3/10/. 
  • Lumpkin, G.T., McKelvie, A., Gras, D., & Nason, R. (2010) Is Strategy Different for Very Small and New Firms? Journal of Small Business Strategy, 21(2):1.
  • Lumpkin, G.T., Moss, T.W., Gras, D., Kato, S., & Amezcua, A. (2011) Entrepreneurial Processes in Social Contexts: How are They Different, if at All? Small Business Economics, 40(3): 1-23.
  • Mathias, B. D., & Williams, D. W. (2017). The impact of role identities on entrepreneurs’ evaluation and selection of opportunities. Journal of Management, 43(3), 892-918.
  • Mathias, B. D., & Williams, D. W. (2018). Giving up the hats? Entrepreneurs’ role transitions and venture growth. Journal of Business Venturing, 33(3), 261-277.
  • Mathias, B. D., McKenny, A., & Crook, T. R. Forthcoming. Managing the tensions between exploration and exploitation: The role of time. Strategic Entrepreneurship Journal.
  • Mathias, B. D., Williams, D. W., & Smith, A. R. (2015). Entrepreneurial inception: The role of imprinting in entrepreneurial action. Journal of Business Venturing, 30(1), 11-28.
  • Mathias, B.D.,* Huyghe, A., & Williams, D.W. (2020). Selling your Soul to the Devil? The Importance of Independent Ownership to Identity Distinctiveness for Oppositional Categories. Strategic Management Journal, 41(13): 2548-2584: https://doi.org/10.1002/smj.3180. 
  • Mendoza-Abarca, K. I., & Gras, D. (2017). The Performance Effects of Pursuing a Diversification Strategy by Newly Founded Nonprofit Organizations. Journal of Management, 0149206316685854.
  • Miller, A., Gartner, W. B., & Wilson, R. (1989). Entry order, market share, and competitive advantage: A study of their relationships in new corporate ventures. Journal of Business Venturing, 4(3), 197-209.
  • Simarasl, N., Moghaddam, K., & Williams, D. W. (2021). Antecedents of business location decisions: the case of aspiring immigrant opportunity entrepreneurs. Journal of Small Business and Enterprise Development.

(8)   Understanding the role of the media and how to build and employ reputation, status and celebrity

  • When new firms have limited resources for building reputation, status and celebrity they cannot invest in all three. Building a reputation for quality products and consistent behavior is more important than developing relationships with high-status affiliates early on, but status and reputation can be mutually reinforcing later in the firm’s life. (Pollock)
  • The volume and tenor (positive or negative) of media coverage plays a significant role in shaping the market’s reactions to entrepreneurial firms. Understanding the interplay between the media and investors can help a firm increase its chances of success. (Pollock)
  • When it comes to status and celebrity, more is not always better. Possessing both one or the other can make it easier to form strategic alliances than possessing both. (Pollock)

A sample of UT faculty publications in this area:

  • Hubbard, T.D., Pollock, T.G., Pfarrer, M.D. & Rindova, V.P. (2018). Safe bets or hot hands? How status and celebrity influence strategic alliance formations by newly public firms. Academy of Management Journal, 61(5): 1976-1999.
  • Munyon, T. P., Frieder, R. E., Satornino, C. B., Carnes, A. M., Bolander, W., & Ferris, G. R. (2021). Selling your network: how political skill builds social capital and enhances salesperson performance. Journal of Personal Selling & Sales Management, 41(3), 233-249.
  • Pollock, T.G. & Rindova, V.P. (2003). Media legitimation effects in the market for initial public offerings. Academy of Management Journal. 46(5): 631-642.
  • Pollock, T.G., Lee, P.M., Jin, K. & Lashley, K. (2015). (Un)Tangled: Exploring the asymmetric co-evolution of new VC firms’ reputation and status. Administrative Science Quarterly, 60(3): 482-517.
  • Pollock, T.G., Rindova, V.P. & Maggitti, P.G. (2008). Market watch: Information and availability cascades among the media and investors in the U.S. IPO market. Academy of Management Journal, 51(2): 335-358.

 (9) Entrepreneurial ecosystems, institutional supports and social entrepreneurship

  • Effective social entrepreneurship requires appropriate access and support. (Jones)
  • Understanding one’s identity helps anchor the tensions social and environmental entrepreneurs face when pursuing non-economic missions. (Jones)
  • Impact investing is an effective way to connect the entrepreneurial process to societal outcomes. (Jones)
  • Industry and institutional change toward sustainability requires a collective effort among multiple types of entrepreneurs. (Jones) 
  • Social support from home (outside of the business) is key to entrepreneurial success. (Cardon)
  • Support from local institutions improves self-confidence and performance of female entrepreneurs. (Munyon)
  • Diversification in social enterprises is beneficial for organizational survival but restricting when it comes to organizational growth. (Gras)
  • Social entrepreneurship presents legal challenges (in decisions regarding choice of entity, governance and financing options) that may profitably be guided by legal counsel. (Heminway)

A sample of UT faculty publications in this area:

  • Cogan, A., Pret, T., & Cardon, M. S. (2022). Everyday social support processes: Household members’ instrumental and emotional support of entrepreneurs. International Small Business Journal, 02662426211054098
  • Embry, E., Jones, J. & York, J. (2019). “Climate Change and Entrepreneurship” in G. Georg, T. Baker, P. Tracey and H. Joshi (Eds.). Handbook of Inclusive Innovation: The Role of Organizations, Markets and Communities in Social Innovation.
  • Heminway, J.M. (2013). To Be Or Not To Be (A Security): Funding For-Profit Social Enterprises. Regent University Law Review, 25(2), 299-327, https://cdn.regent.edu/acad/schlaw/student_life/studentorgs/lawreview/docs/issues/v25n2/02Heminwayvol.25.2.pdf. 
  • Heminway, J.M. (2018). Let’s Not Give Up on Traditional For-Profit Corporations for Sustainable Social Enterprise. U.M.K.C. Law Review, 86(4), 779-803, https://ssrn.com/abstract=3171193. 
  • Heminway, J.M. (2019). “Financing Social Enterprise: Is the Crowd the Answer?” in Cambridge Handbook of Social Enterprise Law (B. Means & J. Yockey, eds.), 192-208. Cambridge University Press. doi:10.1017/9781316890714.012.
  • Heminway, J.M. (2022). Choice of Entity: The Fiscal Sponsorship Alternative to Nonprofit Incorporation. Transactions: The Tennessee Journal of Business Law, 23(3), 526-540, https://ir.law.utk.edu/cgi/viewcontent.cgi?article=1620&context=transactions. 
  • Jones, J, Conger, M., Vedula, S., Lenox, M & York, J. (2019). The Collective Construction of Green Building: Industry Transition Toward Environmentally Beneficial Practices Academy of Management Perspectives.  
  • Jones, J.& York, J.(2018). “Fitting in and Standing out: An identity approach
    for sustainable entrepreneurs” in A. Lindgreen, C. Vallaster, F. Maon, S. Yousofzai, and B. Palacios Florencio (Eds.). Sustainable Entrepreneurship: Analyzing, designing, implementing, and monitoring for socially environmentally responsible entrepreneurship. 
  • Jones, J., & Embry, E. (2021). Exploring impact investing’s emergence in the philanthropic sector. In O. M. Lehner (Ed.), A Research Agenda for Social Finance (pp. 11–36). Edward Elgar Publishing.
  • Simarasl, N., Tabesh, P., Munyon, T.P., & Marzban, Z. Unveiled confidence: Exploring how institutional support enhances the entrepreneurial self-efficacy and performance of female entrepreneurs in constrained contexts. European Management Journal.

 (10)   Exiting at the right time and coping with failure

  • Failures happen, and understanding the causes of failure can improve learning and re-entry into the market. (Cardon)
  • There are many productive means of exiting a firm, and entrepreneurs need to deliberately plan their eventual exit. (Cardon)
  • Entrepreneurs often need to exit, either the business or the job of entrepreneur, in order for the business to grow. (Williams)

A samplea of Haslam faculty publications in this area:

  • DeTienne, D. & Cardon, M.S. 2012. The impact of founder experience on the intentions to exit.  Small Business Economics: An Entrepreneurship Journal, 38(4): 351-374.
  • Mathias, B. D., & Williams, D. W. (2018). Giving up the hats? Entrepreneurs’ role transitions and venture growth. Journal of Business Venturing, 33(3), 261-277.
  • Shepherd, D.A. & Cardon, M.S. 2009. Negative emotional reactions to project failure and the self-compassion to learn from the experience, Journal of Management Studies, 46 (6): 923-949.
  • Wennberg, K., Wiklund, J., DeTienne, D. R., & Cardon, M. S. (2010). Reconceptualizing entrepreneurial exit: Divergent exit routes and their drivers. Journal of Business Venturing, 25(4), 361-375.
  • Yamakawa, Y. & Cardon, M.S. 2015. Causal ascriptions and perceived learning from entrepreneurial failure, Small Business Economics: An Entrepreneurship Journal, 44(4): 797-820.
  • Yamakawa, Y. & Cardon, M.S. 2017. Should I stay or should I go? How prior investments of time, money, and employee hires influence time to exit a distressed venture, and the extent to which contingency planning helps. Journal of Business Venturing, 32 (1): 1-17.