The Academic Spinoff Theory of the Firm

The International Journal of Entrepreneurship and Innovation, Ahead of Print.
This paper reviews the key theories of the firm and considers their relevance to studying and understanding academic spinoffs as a special case of firms. The theory of the firm is an important aspect in entrepreneurship literature, as without clear understanding of the parameters influencing firm's behaviour, it remains difficult to predict its decisions to secure sustainable growth and ensure development of the economy overall. The paper considers the contribution of transaction cost theory, managerial theory, resource-based view, knowledge-based view, and dynamic capabilities, to the understanding of the academic spinoff. In essence, these theoretical explanations lend multiple perspectives that offer a greater insight into the academic spinoff firm by illuminating the issues of its boundaries, entrepreneurs, resources, knowledge, and networks. It is concluded that understanding academic spinoffs requires acknowledging this theoretical plurality. In response to this challenge, the paper proposes the Academic Spinoff Theory of the Firm.

Entrepreneurship during crisis: Innovation practices of micro and small tour operators

The International Journal of Entrepreneurship and Innovation, Volume 24, Issue 3, Page 155-166, August 2023.
Innovation as a response strategy to a crisis needs further understanding for small enterprises. This exploratory research investigates if, why, and with whom entrepreneurs in micro and small enterprises engage in innovation activities during the atypical context of the COVID-19 crisis in the tourism sector. The multiple case study with three German entrepreneurs in the tour operator market shows that micro and small enterprises despite their size hold the capacity to initiate and manage several innovation projects of different types and in different stages of the innovation value chain simultaneously during a crisis. To do so, the entrepreneurs preferably engage participants with strong social ties, independent from a place. The perceived benefits are both related to the innovation output (e.g. generate income), and the innovation activities (e.g. increased motivation of staff, increased trust of customers during the crisis). Further research is encouraged on the long-term effects of innovations resulting from a crisis.