GOING VIRAL OR GROWING LIKE AN OAK TREE? TOWARDS SUSTAINABLE LOCAL DEVELOPMENT THROUGH ENTREPRENEURSHIP

• 成果类型: Article
• 署名作者: Kim, Suntae; Kim, Anna
• 署名单位: Johns Hopkins University; McGill University
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/amj.2018.0041
• 发表日期: 2022
• 页码: 1709-1746
• 关键词: VALUE CREATION; GROWTH; poverty; time; spillovers; RESOURCES; BRICOLAGE; geography; networks; DYNAMICS

摘要

Nurturing venture capital-backed, high-growth entrepreneurship has been strongly pro-moted as an effective means to achieve local development in impoverished places. Yet, growing evidence has suggested that, despite its notable successes in resource-rich regions, this approach creates limited impact in economically challenged locales. We address this conundrum by calling into question the crux of high-growth entrepreneur-ship-the pursuit of quick scaling through venture capital financing. Our field research in two entrepreneurship-nurturing organizations in Detroit reveals important heteroge-neity in resourcing modes and venture growth in time and space. Specifically, we find that ventures developed through different modes of resourcing (financing vs. local brico-lage) grow at different spatiotemporal scales (scaling up toward fast geographical expan-sion vs. scaling deep toward locally anchored endurance), and consequently generate distinctive yet complementary contributions to their depleted place of origin. Unlike scaling-up ventures whose local impact was explosive yet short-lived, scaling-deep ven-tures created jobs, products or services, and spillover effects that stayed local and addressed specific local problems. Building on these findings, we challenge the exclusive pursuit of high-growth entrepreneurship for poverty alleviation and suggest that entrepreneurship-driven local development requires cohabitation of ventures growing at varying scales.