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A scientific approach to entrepreneurial decision-making: Large-scale replication and extension

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dc.contributor.authorCamuffo, Arnaldo
dc.contributor.authorGambardella, Alfonso
dc.contributor.authorMessinese, Danilo
dc.contributor.authorNovelli, Elena
dc.contributor.authorPaolucci, Emilio
dc.contributor.authorSpina, Chiara
dc.contributor.funderUniversity of London
dc.contributor.funderMinistero dell’Istruzione
dc.contributor.funderBocconi University
dc.contributor.funderDepartment for Business, Energy and Industrial Strategy
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2024-07-08T13:14:09Z
dc.date.available2024-07-08T13:14:09Z
dc.date.issued2024
dc.description.abstractResearch Summary: This article runs a large-scale replication of Camuffo and colleagues in 2020,involving 759 firms in four randomized control trials. The larger sample generates novel and more precise insights about the teachability and implications of a scientific approach in entrepreneurship. We observe a positive impact on idea termination and results that are consistent with a nonlinear effect on radical pivots,with treated firms running few over no or repeated pivots. We provide a theoretical interpretation of the empirical results: the scientific approach enhances entrepreneurs' efficiency in searching for viable ideas and raises their methodic doubt because,like scientists,they realize that there may be alternative scenarios from the ones that they theorize. Managerial Summary: The findings of this article,based on four randomized control trials involving 759 firms,offer new insights into how entrepreneurial practices can benefit from a scientific approach to decision-making. Key outcomes include an increase in the termination of ideas and a nuanced influence on the tendency to make strategy changes. Specifically,firms that adopted a scientific approach made a few strategic shifts,as opposed to either not changing or constantly changing their strategy. We suggest that this is due to the scientific approach helping entrepreneurs be more efficient when searching for valuable ideas,as well as being more careful in selecting those ideas. © 2024 The Authors. Strategic Management Journal published by John Wiley & Sons Ltd.
dc.description.fundingtypeThe authors gratefully acknowledge the funding support from the ICRIOS\u2014Invernizzi Center for Research in Innovation, Organization, Strategy & Entrepreneurship at Bocconi University, the Innovation Growth Lab, the Strategy Research Foundation, the Department for Business, Energy and Industrial Strategy of the UK Government (project 104754\u201CA Scientific Approach to SMEs Productivity\u201D) City, University of London, The Italian Ministry of Education, Universities and Research (PRIN project prot. 2017PM7R52, CUP J44I20000220001) and the Polytechnic of Turin. This research was approved by Bocconi Research Ethics Committee with protocol references 2016\u2010III/13.696-77133\u20102 and by City Ethics Committee with reference ETH1819\u20100351. The four studies presented in this manuscript are included in the AEA RCT Registry (AEARCTR\u20100006578, AEARCTR\u20100002205, AEARCTR\u20100006579, AEARCTR\u20100003875).
dc.description.keywordDecision making
dc.description.keywordEntrepreneurship
dc.description.keywordrandomized control trial
dc.description.keywordscientific approach
dc.description.keywordStart-up
dc.formatapplication/pdf
dc.identifier.citationCamuffo, A., Gambardella, A., Messinese, D., Novelli, E., Paolucci, E., & Spina, C. (2024). A scientific approach to entrepreneurial decision-making: Large-scale replication and extension. Strategic Management Journal, 45(6), 1209–1237. https://doi.org/10.1002/smj.3580
dc.identifier.doihttps://doi.org/10.1002/smj.3580
dc.identifier.issn1432095
dc.identifier.officialurlhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85187144166&doi=10.1002%2fsmj.3580&partnerID=40&md5=7347a675bf69adec3005adcaf5091440
dc.identifier.urihttps://hdl.handle.net/20.500.14417/2989
dc.issue.number6
dc.journal.titleStrategic Management Journal
dc.language.isoeng
dc.page.final1237
dc.page.initial1209
dc.page.total15
dc.publisherJohn Wiley and Sons Ltd
dc.relation.departmentStrategy
dc.relation.entityIE University
dc.relation.projectIDBEIS: 104754
dc.relation.schoolIE Business School
dc.rightsAttribution-NonCommercial 4.0 International
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by-nc/4.0/
dc.subjectDecision making
dc.subjectEntrepreneurship
dc.subjectrandomized control trial
dc.subjectscientific approach
dc.subjectStart-up
dc.subject.keywordDecision making
dc.subject.keywordEntrepreneurship
dc.subject.keywordrandomized control trial
dc.subject.keywordscientific approach
dc.subject.keywordStart-up
dc.subject.otherLarge-scales
dc.subject.otherManagement journals
dc.subject.otherNonlinear effect
dc.subject.otherRandomized control trials
dc.subject.otherScientific approach
dc.subject.otherStrategic management
dc.titleA scientific approach to entrepreneurial decision-making: Large-scale replication and extension
dc.typeinfo:eu-repo/semantics/article
dc.version.typeinfo:eu-repo/semantics/publishedVersion
dc.volume.number45
dspace.entity.typePublication
person.identifier.scopus-author-id7801312686
person.identifier.scopus-author-id54984906100
person.identifier.scopus-author-id58694043900
person.identifier.scopus-author-id55757024200
person.identifier.scopus-author-id6701839506
person.identifier.scopus-author-id57225679105
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