Planning still matters: Exploring the association between venture cognitive logic and performance in different institutional contexts

Galina Shirokova, A. Laskovaia and O. Osiyevskyy

No 6447, Working Papers from Graduate School of Management, St. Petersburg State University

Abstract: Strategic management and entrepreneurship literature traditionally pay substantive attention to rational decision-making processes with clear formalized plans and analytical procedures. Despite all the advantageous of planning-based logic, some scholars prefer alternative approaches to making decisions. In entrepreneurship field, the effectuation theory rose to prominence, emphasizing analogical rather than analytical reasoning. While prior effectuation research focused primarily on studying personal characteristics of entrepreneurs, this paper is intended to reach a new level in examining macro-level factors that may influence the efficiency of entrepreneurial cognitive processes. Particularly, we investigate how formal in-stitutions shape the relationship between venture cognitive logic of 4413 student entrepreneurs and performance of their ventures. We demonstrate that this relationship is to a large extent shaped by the characteristics of the country-level institutional environment (particularly, level of financial market development and generalized index of the ease of doing business).

Keywords: effectuation; causation; institutions; GUESSS; ease of doing business; financial market development index (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-ent, nep-exp and nep-neu
References: Add references at CitEc
Citations:

Downloads: (external link)
https://dspace.spbu.ru/handle/11701/6447
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sps:wpaper:6447

Access Statistics for this paper

More papers in Working Papers from Graduate School of Management, St. Petersburg State University Contact information at EDIRC.
Bibliographic data for series maintained by Lena Manaeva ( this e-mail address is bad, please contact ).