Company Founders Research Articles

Impact of online community interaction on value co-creation: Evidence from China

This paper explores the effect of online community interaction on value co-creation. The goal is to investigate internal factors influencing value co-creation through the SEM model and offer company managers effective management advice. This study investigates 485 customers in Xiaomi and Huawei online communities in China. An online questionnaire survey and convenient sampling are used, and a quantitative research method is adopted. The results of empirical analysis show that online community interaction, including human interaction (β = 0.141, p < 0.05) and human-computer interaction (β = 0.126, p < 0.05) positively affect value co-creation. Meanwhile, both human interaction (β = 0.300, p < 0.001) and human-computer interaction (β = 0.371, p < 0.001) significantly affect flow experience. Then flow experience (β = 0.689, p < 0.001) positively affects community identity and community identity (β = 0.488, p < 0.001) positively affects value co-creation. Yet, both human interaction (β = 0.051, p = 0.301) and human-computer interaction (β = 0.010, p = 0.858) do not significantly affect community identity. Flow experience (β = 0.032, p = 0.676) does not positively affect value co-creation. The results also show that neither flow experience alone nor community identity alone can play an intermediary role between online community interaction and value co-creation. Flow experience and community identity play a partial chain-intermediary effect between online community interaction and value co-creation. Finally, online community interaction, on the one hand, directly affects value co-creation, on the other hand, it indirectly affects value co-creation via chain-mediating factors comprised of flow experience and community identity. This study provides a theoretical foundation for companies to use psychological factors to promote customers taking part in value co-creation to enhance enterprise competitiveness. AcknowledgmentThe study is supported by the project: School of Business Administration Discipline Construction Funding Research Project, Guangxi University of Finance and Economics, China (No.12, 2016).

TELAAH SISTEM PENGENDALIAN MANAJEMEN DALAM FAMILY BUSINESS

This study aims to examine the design of management control systems, in two business groups with different cultural backgrounds. The difference in cultural backgrounds is due to one of them from the company founders in the two companies who have different cultural life backgrounds, and in the end will be carried away by them in the formation of the organizational culture of each company. The research uses the literature study method by examining two research results, namely from the research of Efferin & Hartono (2015) on Management Control and leadership Styles in Family Business: An Indonesian Case Study and Hanif (2015) Management Control System Design: An Interpretive Ethnography. The results of the study strengthen the existence of contingency theory which states that companies will interact with their environment, with their ecosystems, and this will be seen in all aspects related to the management control system. The culture of society, in which the main actors from the founders to the managers of the company have lived, participate in coloring the organizational culture of the company, and in the end, in the design of the management control system.

Теория счастья в XXI веке: в поисках социально-экономических оснований

The article considers the modern revision of the problem of happiness in philosophy, economics, social policy and architecture. It shows that in the 21st century interest has increased in studies of external socioeconomic, environmental and urban planning aspects of happiness. In the article, this view is called externalistic and is contrasted with the earlier internalistic approaches that searched for and developed the internal (mindset-dependent) foundations of happiness. Examples of effective social and economic policies aimed to design external conditions for social well-being and happiness are considered. In the context of modern socioeconomic research, relevant philosophical approaches to happiness and conditions for its achievement are revised. The article juxtaposes theories of happiness as peace of mind and happiness as the pursuit of a dream (self-realization). The second paradigm is actively popularized in the modern society and in business management; however, it gives rise to people's overestimated expectations from and impracticable requirements for themselves. The results of recent research in the field of “happiness economics” demonstrate that happiness has scaled up in recent years from a private task of an individual to a system task that needs to be solved by society and government. Happiness has become a criterion of political and economic efficiency, as well as a significant factor in the company's high productivity and popularity. The article shows that both external (economic, political, environmental) and internal (philosophical, psychological) factors of happiness are broadly used in modern economic “happiness management”. Special attention in the research is paid to new investigations that reveal the dependence of happiness, as well as others human qualities (like altruism or egoism), on reasonably or unreasonably arranged design of the ur-ban/rural environment. The article also stresses that, among Silicon Valley developers, millionaire entrepreneurs and founders of large companies in the United States, the ideas of Stoic philosophy have gained great popularity. This philosophy is used as an effective “operating system” in conditions of constant stress and as a “mental tool” to overcome the fear of death. Stoic ideas of “negative thinking” and “defensive pessimism” are given in the article as examples of such “antistress” methods. Finally, the article cites research that show unique cultures in the world in which happiness is not the highest social value. Such studies allow reconsidering the universality of the category of happiness as a common measure of social well-being.

ECONOMIC ASPECTS OF THE CREATING AND FUNCTIONING OF REGIONAL RAILWAYS IN BUKOVYNA IN THE SECOND HALF OF THE 19th – EARLY 20th CENTURIES

The purpose of this paper is to study the objective economic aspects and prerequisites for the creating and functioning of regional railways in Bukovyna in the second half of the 19th – early 20th centuries. The deployment of railway construction on the lands of Bukovyna in the second half of the 19th century was associated with the processes of the capitalist structure formation in the economies of the countries that included these lands – Austria-Hungary and the Russian Empire. The successful activities of the large railway companies in Bukovyna were facilitated by their strong ties with banks and close mutually beneficial cooperation with various parts of the state apparatus of Austria-Hungary and the Russian Empire. There was certain dependence between railway companies and States that, on the one hand, companies could not do without financial assistance from the State. On the other hand, the State did not possess sufficient funds at the end of the 19th century to independently expand the railway network and it was forced to entrust the construction of railway lines to private companies. Banks willingly acted as founders of new private railway companies in Austria-Hungary, which intensively stimulated the development of railway construction in Bukovyna. The high degree of the capital concentration in comparison with the other branches of private capitalist production was one of the characteristic features of the railway companies of Bukovyna.

Permitting dual class shares in the UK premium listing regime – a path to enhance rather than compromise investor protection

AbstractUnequal voting rights arrangements under dual class share structures are increasingly favoured by entrepreneurs and founders of technology companies, in order to retain a degree of control over the company that is disproportionate to their equity shareholdings. The rise of such share structures around the world has put competitive pressure on the UK Government and the country's financial regulator to relax the one share, one vote principle in the premium listing regime of the London Stock Exchange, to ensure the UK equities market remains world-leading and fit for the future development of the economy. There is, however, a long tradition of institutional investors’ distaste for dual class share structures. In fact, the near extinction of dual class listings in the UK capital markets can be largely attributed to the opposition of large British institutions. Therefore, this paper will critically discuss the conflict between the demands to attract listings from high-tech and innovative companies and concerns of a race to the bottom in the UK context. It rebuts criticisms based on investor protection and argues that if dual class companies were permitted to list in the Premium Segment, the higher level of regulatory protection provided in the premium listing regime would help enhance minority shareholder protection and shareholder engagement. The additional safeguarding measures, as we have seen from other global financial centres, would also help to restrain the potential abuse of controllers’ weighted voting power. Together with the market mechanism, permitting dual class listings in the Premium Segment should be welcomed.

Arenavirus Therapy in Combination with Checkpoint Blockade as an Effective Way for Better Tumour Clearance.

Viruses have been widely used to treat cancer for many years and they achieved tremendous success in clinical trials with outstanding results, which has led to the foundation of companies that develop recombinant viruses for a better tumor treatment. Even though there has been a great progress in the field of viral tumor immunotherapy, until now only one virus, the oncolytic virus talimogene laherparepvec (TVEC), a genetically modified herpes simplex virus type 1 (T-VEC), has been approved by the FDA for cancer treatment. Although oncolytic viruses showed progress in certain cancer types and patient populations but they have yet shown limited efficacy when it comes to solid tumors. Only recently it was demonstrated that the immune stimulatory aspect of oncolytic viruses can strongly contribute to their anti-tumoral activity. One specific example in this context are arenaviruses, which have been shown to be non-cytopathic in nature lead to the massive immune activation within the tumor resulting in strong anti-tumoral activity. This strong immune activation might be also linked to their noncytopathic features, as their immune stimulatory potential is not self-limiting as is the case for oncolytic viruses due to their fast eradication by anti-viral immune effects. Because of this strong immune activation, arenaviruses appear superior to oncolytic viruses when it comes to potent and long-lasting anti-tumor effects in a broad variety of tumor types. Currently one of the most promising therapeutics which has turned to be very much beneficial for the treatment of different cancer types is represented by antibodies targeting checkpoint inhibitors such as PD-1/PD-L-1. In this review, we will summarize anti-tumoral effects of arenaviruses, and will discuss their potential to be combined with checkpoint inhibitors for a more efficient tumor treatment, which further emphasizes that arenavirus therapy as a viroimmunotherapy can be an efficient tool for the better clearance of tumors.

(Industrial Electrochemistry and Electrochemical Engineering Division New Electrochemical Technology (NET) Award) Pulse Reverse HF-Free Electropolishing of Niobium Superconducting Radio Frequency (SRF) Cavities for Nuclear Physics and High Energy Physics Applications

On behalf of Faraday Technology, Inc., we are honored to receive the 2021 New Electrochemical Technology (NET) award of the Industrial Electrochemistry & Electrochemical Engineering (IE&EE) division for pulse reverse FARADAYIC® HF-FREE Electropolishing of niobium SRF cavities. The NET award was endowed by the Dow Chemical Company Foundation to recognize significant advances in industrial electrochemistry. We addressed the subject innovation as a multidisciplinary team of electrochemists, engineers and technologists.Niobium superconducting radio frequency (SRF) cavities are used in particle accelerators such as the Large Hadron Collider (LHC) to support nuclear/high energy physics applications. To achieve their required performance, the niobium SRF cavities are electropolished using nine-parts sulfuric acid to one-part hydrofluoric acid.[1] The conventional process follows the well-established “viscous salt-film” model for electropolishing.[2] The conventional electrolyte imparts an extreme hazard to workers requiring costly safety protocols with extensive worker protection (see Fig. 1a).[3] ,[4] To commercialize niobium SRF cavity electropolishing, a simpler, cost-effective industrially compatible process was required.We developed a pulse reverse process to electropolish niobium coupons in low concentration (<5 wt%) aqueous sulfuric acid electrolytes devoid of hydrofluoric acid.[5] The surface roughness was the same as that observed using conventional DC electropolishing.[6] We transitioned the work from coupons to single-cell niobium cavities SRF and the performance was the highest observed at the DOE’s Fermi National Accelerator Facility.[7] ,[8] Due to the avoidance of the safety protocols associated with the conventional process (see Fig. 1b), the capital and operating costs of the pulse reverse electropolishing process were considerably less than the conventional process.[9] Finally, the pulse reverse process was patented and transitioned to DOE’s Thomas Jefferson National Accelerator Facility.[10] ,[11] Finally, the pulse reverse process was adapted to other strongly passive materials.While reviewing the technology developments leading to and associated with the niobium pulse reverse electropolishing process, we will illustrate lessons learned during the development of industrial innovations.[12] [1] H. Tian, S. Corcoran, C. Reece, and M. Kelly, J. Electrochem. Soc., 155, D563 (2008). [2] P. A. Jacquet, Trans. Electrochem. Soc., 69, 629 (1936). [3] T. Dote and K. Kono, Jap. J. Occupational Medicine and Traumatology, 52, 3, 189 (2004). [4] J. Mammoser, “Chemical Safety Awareness for SRF Cavity Work” U.S. Particle Accelerator School, January 19, 2015 (accessed June 9, 2020) https://www.jlab.org/indico/event/98/ other-view?fr=no&detailLevel=contribution&view=standard& showSession=all&showDate=all [5] M. Inman, E. J. Taylor, and T. D. Hall, J. Electrochem. Soc., 160, E94 (2013). [6] M. Inman, T. Hall, E. J. Taylor, C. Reece, and O. Trofimova, Paper TOPO012, Proc. SRF2011, Chicago, IL (2011). [7] E. J. Taylor, T. Hall, M. Inman, S. Snyder, and A. Rowe, Electropolishing of Niobium SRF Cavities in Low Viscosity Aqueous Electrolytes without Hydroflouric Acid, Paper TUP054, Proc. SRF2013, Paris, France, Sept 2013. (ISBN 978- 3-95450-143-4) [8] A. Rowe, A. Grassellino, T. Hall, M. Inman, S. Snyder, and E. Taylor, Paper No. TUIOC02, Proc. SRF2013, Paris, France, Sept 2013. (ISBN 978-3-95450-143-4) [9] E. J. Taylor, M. Inman, T. Hall, S. Snyder, A. Rowe, and D. Holmes, Paper MOPB092, Proc. SRF2015, Whistler, BC, Canada (2015). [10] E. J. Taylor, M. E. Inman, and T. D. Hall, U.S. Pat. No. 9,006,147 issued April 14, 2015. [11] E. J. Taylor, M. E. Inman, and T. D. Hall, U.S. Pat. No. 9,987,699 issued June 5, 2018. [12] E.J. Taylor, M.E. Inman, H.M. Garich, H.A. McCrabb, S.T. Snyder, T.D. Hall in Electrochemical Engineering: The Path from Discovery to Product Alkire, Bartlett, Koper (eds) Wiley-VCH (2019). Figure 1

Dual-Class System of Capital Company Formation in the BRICS Countries

Purpose: this paper determinates the current level of penetration of the dual-class system of capital company formation in the BRICS group.Methods: are based on the use of methods of analysis, systematization, generalization. A comparative and synthesis methods have been also used to identify trends and patterns in the introduction of multi-voting shares in the BRICS group.Results: the dual-class system of capital company formation in Russia is practically not studied. The article reveals that in Brazil and Russia, despite the discussion of the possibility of distributing multi-voting shares, the legislation does not imply the possibility of using the dual-class system. This issue has not yet been discussed in South Africa.It has been identified that the main reason for the legislative permission for using multi-voting shares is the need to develop companies in the high-tech sector. Another reason is the massive listing of foreign high-tech companies on American stock exchanges, due to the possibility of using the dual-class system. This predetermined the introduction of amendments to the legislation of India and China, according to which companies in the high-tech sector that have not yet passed an IPO can use differential voting rights.It has been receiving that the Indian market is the only one where shares with differentiated voting rights are placed on the stock exchange. At the moment, three companies that passed the IPO before the amendments to the legislation use differentiated voting rights, but not upwards, but on the contrary – downwards: “four shares – three votes”. This characteristic determines the trading of such stocks at a discount.Conclusions and Relevance: harmonization of opportunities for the use of financial instruments in the BRICS market can strengthen the economic potential of states. Allowing the usage of multi-voting shares improves the business environment for high-tech companies and reduces the need for company founders to look for IPO opportunities in jurisdictions where a dual-class capital formation system is allowed.

Linking Entrepreneurial Satisfaction with elements of entrepreneurial ecosystem

The entrepreneurial ecosystem in developing countries is not as vibrant as in the developed countries, this is because of the inherent institutional, organizational, and framework conditions that exist in these countries, bureaucracy is one of the reasons that affects entrepreneurship in these countries and especially startups, this study aims to investigate these hypotheses, for this study 214 owners and founders of companies and startups were selected randomly from different areas of Sindh, Pakistan. Using PLS-SEM we investigated how different domains affect entrepreneurial satisfaction including bureaucracy. Our findings suggest that bureaucracy significantly affects the entrepreneurial satisfaction region as this study suggests in the case of Pakistan. These results indicate the need for changing the model of the entrepreneurial ecosystem where bureaucracy should be incorporated to make this model work in the context of developing countries.

Entre modernização e obsolescência: a trajetória da Companhia Telefônica Catarinense (1927-1969)

O objetivo desse artigo é analisar a trajetória da Companhia Telefônica Catarinense (CTC) dentro da formação econômica de Santa Catarina no processo de integração do sistema nacional de telecomunicações. A trajetória da CTC será analisada combinando dois movimentos: a modernização e a obsolescência da sua capacidade de expansão comercial e produtiva, que envolve desde a fundação da empresa, em 1927, até sua estatização, em 1969. Para analisar esse período dividimos a trajetória da CTC em quatro momentos: a) modernização extensiva e contínua (1927-1943); b) obsolescência forçada e temporária (1943-1947); c) modernização intensiva e limitada (1947-1961); e d) obsolescência irreversível e insolvência financeira (1961-1969). O texto está dividido em três tópicos. Iniciamos com uma introdução que aborda as comunicações em Santa Catarina e define as categorias de análise. Em seguida, o tópico formação, expansão e estatização da CTC apresenta os momentos de modernização e obsolescência. Por fim, temos as considerações finais que sintetiza o movimento geral da estatização da telefonia em Santa Catarina.

Is the Jack Ma trajectory unique? Assessing the place-based hypothesis on entrepreneurial success

There is a widely-held belief that China’s high-performing entrepreneurs have been fueled by their transnational experience. Scholars have pointed to studying or working in the US, in particular, as a driver of their performance, while other researchers emphasize the ascent of place-based factors, such as the triple helix – the interaction of industry, government and academia – of leading cities as a bedrock for China’s entrepreneurship. In this paper, we examine the migration patterns of high-performing entrepreneurs, like Jack Ma, the founder of Alibaba, in order to test these competing hypotheses. To do so, we analyze the spatial mobility patterns of the founders of the Chinese high-growth companies that had raised at least US$1 billion in private equity funding as of March 2020. In contrast to the prevailing assumption that these high-performing entrepreneurs are returnees (e.g. Chinese entrepreneurs that lived abroad and returned to China), we find that, like Ma, this elite cohort are predominantly graduates with bachelor’s degrees from universities in urban coastal regions in China. Rather than transnational or location-based explanations, our findings point to sub-national migration patterns within China—to and within coastal urban areas—as more likely to drive entrepreneurial performance.

Kraft Heinz Company Foundation pledges $12 million for global food assistance programs

Kraft Heinz Company Foundation pledges $12 million for global food assistance programs

R versus D, from knowledge creation to value appropriation: Ownership of patents filed by European biotechnology founders

Biotechnology firms are often created on the premise of commercialising the results of research carried out by scientists with heterogeneous careers and research trajectories. Patents filed by company founders provide accessible information on the appropriation of knowledge through the assignment of intellectual property rights (IPR).In this study, we developed a new database of patents and publications by the founders of European, drug-originating biotech companies that reached IPO between 2013 and 2018. The founders' scientific human capital was analysed. We also developed a regression model to estimate whether the founders’ career trajectories, previous publications and patent characteristics explain the appropriation of knowledge by biotech start-ups.Our findings suggest that founders' scientific human capital and professional experience influence the way in which knowledge is captured for economic use. Compared to patents filed by industrial inventors, those filed by academics and mixed career scientists are more likely to be assigned to an inventor's own start-up company than owned by a scientist's employers. These findings lead to fundamental questions about biopharmaceutical innovation regarding issues such as whether risks and returns are appropriately shared between actors in the public and private sectors.

Perceived philanthropy and consumer brand loyalty: an actionbased analysis of telephone company foundations

Resume : Cet article etudie les effets de la perception de la philanthropie comme pratique de Responsabilite Sociale d’Entreprise (RSE) sur la fidelite des consommateurs a la marque. Il est mene a partir d’une etude de cas multiples. Six consommateurs, tous responsables des organisations des consommateurs, sont retenus pour apprehender le lien entre les dons et autres actions des fondations d’entreprises de telephonie et la fidelite des consommateurs a la marque. Les analyses de contenu concluent sur l’absence d’effet de la perception de ces actions de philanthropie sur la fidelite des consommateurs a la marque. Mots cles : RSE, dimension philanthropique, fidelite a la marque, fondation d’entreprise, don. Abstract: This article studies the effects of the perception of actions of philanthropy as a practice of Corporate Social Responsibility (CSR) on consumers’ brand loyalty. It’s carried out on the basis of a cases study. Six consumers, all heads of consumer right organizations, are selected to understand the link between donations and other actions of telephone company foundations and consumer loyalty to the brand. The content analysis concludes that, the perception of the philanthropic actions has no of effect of consumers’ brand loyalty. Key words: CSR, philanthropic dimension, brand loyalty, corporate philanthropy, donation.

Enterprise Resource Planning Module for Textile Industry

In Textile Industries, several entities and departments are present. If all these departments are not maintained properly then it is very difficult to handle the textile organization. For maintaining textile industry (ERP) solution can help, making your textile company more profitable by strengthening the collaboration within the organization and increasing its efficiency and adaptability. The ERP solution lays a solid foundation for textile companies to continuously review, benchmark, and optimize their business processes based on their corporate business strategy making the right business decisions becoming easier. A comprehensive ERP solution also makes it easier for a textile organization’s business partners to engage productively within the company. The main objective of this application is that there are several textile organizations where this system is a must to be used because with the help of this system textile companies can provide outstanding service to customers, maximize their return on investments in assets, optimize enterprise processes, mitigate operational risks, facilitate environmental compliance, and streamline the merger and acquisitions process.

RESPONSIBILITY OF DIRECTORS IN BANKRUPTCY PROCEDURES UNDER EU LAW AND INDIVIDUAL MEMBER STATES OF EU

The Bankruptcy Proceedings Code of Ukraine provides for the possibility of imposing liability under the obligations of the debtor – a legal person on the founders (stakeholders, shareholders) or other persons who have the right to give mandatory instructions to the debtor or have the opportunity to otherwise determine his actions. As a result, "comfortable" organizational forms of companies, such as LLCs and JSCs, have become risky for investors; managers, who may be employees, bear risk too. The article analyzes the legislation of the EU and some EU member states (Germany, France, Spain, the Netherlands, Latvia, Romania), concerning the liability of individuals in insolvency proceedings. We find that the rules on such liability are not harmonized at the EU level; as for individual countries, their laws do provide for the possibility of holding both de jure and de facto directors, whereas the latter may include the founders (stakeholders, shareholders) of the company, for the debts of the company. At the same time, the legislation of European countries describes in great detail the conditions and procedure for imposing such liability, which makes the risks for the individuals concerned predictable. Moreover, special rules on liability in insolvency proceedings are systematically linked to the provisions of company law, which establish the obligation of directors to act with due diligence in the interests of the company and liability for knowingly making business transactions with the knowledge that the company is insolvent (wrongful trading). In Ukraine, there are absolutely no specific legal provisions on the conditions and procedure for holding even de jure directors to liable in insolvency proceedings, not to mention the founders (stakeholders, shareholders) of companies, which creates a situation of legal uncertainty. To eliminate it, the legislation of Ukraine should define: the range of individuals on whom such liability may be imposed; a specific list of actions, the commission of which may give rise to liability; the need to prove the guilt of such individuals; forms of guilt sufficient to be held liable (only intent or also negligence); procedural rules for establishing guilt, including the issue of the burden of proof; who may lay claim to a director (insolvency administrator, creditor, court); statutes of limitations on the liability of directors, etc.

Resolving internal environmental barriers with KM practices

ABSTRACT This investigation focusses on the environment of socialisation needed to mitigate internal environmental knowledge barriers. The research instrument is a questionnaire distributed to 87 Spanish Knowledge-Intensive Business Services (commonly known as KIBS). Within the SME (small and medium-sized enterprise) sector, KIBS are playing an increasingly important role due to the reliance these types of businesses have on company founders and their professional knowledge about service and business operations. The results show that both the direct and indirect effects of socialisation on environmental performance caused by environmental knowledge barriers are statistically significant. The findings therefore pave the way to dealing with sustainable development and overcoming difficult environmental barriers, such as resistance to change or lack of financial resources, through knowledge socialisation. The findings also complement organisational theories of management by providing a clearer definition of environmental knowledge and guidance for managers.

An analytical study of the criminal liability for founders of joint-stock companies

Due to the importance of commercial enterprises to economic development, the UAE legislature has sought to carefully regulate them, including providing guarantees to prevent manipulation by founders during the incorporation period. This article focuses on the criminal liability of founders of joint-stock companies in Emirati law and clarifies the actions that result in criminal liability for founders of joint-stock companies. The article approaches the topic by first defining a founder and the qualifications they must possess. Then, the article discusses the crimes and the rulings related to the crimes committed during the incorporation of a joint-stock company (Kamensky, Dudorov, Movchan, Vozniuk, &amp; Makarenko, 2020). This is done by analyzing the relevant laws, including the UAE Commercial Enterprise Law (Number 2 of 2015). The article concludes that the Emirati legislature has defined the purpose of founders and provided the conditions that a person must fulfill to sign the initial contract to incorporate a company as a founder. Moreover, this study showed that the Emirati legislature has leaned towards issuing severe punishments for those who commit these crime

The Process of Establishing a Green Climate: Face-To-Face Interaction between Leaders and Employees in the Microsystem

This study explores the processes of establishing a green organizational climate in small-scale companies. Previous studies have primarily focused on factors associated with pro-environmental behaviour in large organizations. The role of a green organizational climate—specifically, the interactional processes involved in the construction of a green climate—has largely been unexplored. Entrepreneurial small companies constitute an ideal arena in which to study the initial phase of greening processes. The present study examined the process of establishing a green organizational climate in seven small-scale Norwegian companies. This article presents a systems model that was developed to analyse how processes at different levels interact in the shaping of the green climate. The design was a longitudinal mixed-methods approach, consisting of focus-group interviews conducted in the field, a questionnaire and follow-up interviews with the leaders. Findings indicate that the construction of a green climate had a strong practise-based approach. The company founders were driven by environmental values; they sparked the initial green measures, influenced the employees—directly and indirectly—and also invited dialogue around and co-construction of the green climate. Frequent face-to-face interactions within the microsystem of the leaders/employees were decisive to the development of the green climate. The present study contributes to the understanding of the process of greening an organization: specifically, how green practice relates to the construction of a shared green climate. Contrary to previous research and theorizing, this study indicates that it is possible to “go green” without a superordinate green strategy.

Getting Schooled: The Role of Universities in Attracting Immigrant Entrepreneurs

Immigrant founders of venture capital-backed companies have been critical to the entrepreneurial ecosystem. We document the channels through which immigrant founders find their way to the United States and how those channels have changed over time. Immigrants have been an important source of founders for venture capital-backed startups accounting for roughly 20% of all founders over the past 30 years. Immigrants coming to the United States for their education have been the primary source of founders with those coming after being educated abroad and then arriving for work decreasing in importance over time. The importance of undergraduate education as a channel for immigrant founders has increased over time. Immigrant founders coming for education are likely to start their companies in the state in which they were educated, especially states where they received their graduate education, leading to potentially large local economic benefits. The results of this paper have important policy implications for the supply of entrepreneurial talent and efforts to promote entrepreneurial ecosystems. Institutional subscribers to the NBER working paper series, and residents of developing countries may download this paper without additional charge at www.nber.org.