Toward a process theory of entrepreneurship: revisiting opportunity identification and entrepreneurial actions

Abstract

This dissertation studies the early development of new ventures and small business and the entrepreneurship process from initial ideas to viable ventures. I unpack the micro-foundations of entrepreneurial actions and new ventures’ investor communications through quality signals to finance their growth path. This dissertation includes two qualitative papers and one quantitative study. The qualitative papers employ an inductive multiple-case approach and include seven medical equipment manufacturers (new ventures) in a nascent market context (the mobile health industry) across six U.S. states and a secondary data analysis to understand the emergence of opportunities and the early development of new ventures. The quantitative research chapter includes 770 IPOs in the manufacturing industries in the U.S. and investigates the legitimation strategies of young ventures to gain resources from targeted resource-holders.