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When do Entrepreneurs Benefit from Acting Like Scientists? A Field Experiment in the UK (Revision 2 )

Award Winning
Working Paper
This paper investigates the role of a firm’s degree of business development—defined as the extent to which an entrepreneur has already crystallized the details of their firm strategy, making radical changes unlikely—in moderating the impact of a scientific approach to decision-making on performance. The authors explore this issue with a question-driven approach based on evidence from a field exper-iment with 261 UK entrepreneurs. Results show that treated firms at a higher degree of business development perform better than control firms, whereas firms at a lower degree of business development perform worse than control firms. The authors present qualitative and quantitative evidence to interpret this result. The authors elaborate on the implications for future research.
Faculty

Assistant Professor of Entrepreneurship and Family Enterprise