Download this Paper Open PDF in Browser

A Judgment-Analysis Perspective on Entrepreneurs' Resource Evaluations

27 Pages Posted: 19 Aug 2011 Last revised: 28 Aug 2014

Benedict Kemmerer

BSH Bosch and Siemens Home Appliances Group

Jorge Walter

The George Washington University - School of Business

Franz W. Kellermanns

University of Tennessee, Knoxville

V. K. Narayanan

Drexel University - LeBow College of Business

Date Written: 2012

Abstract

Our study extends resource-based theory (RBT) by developing an understanding of how entrepreneurs judge the importance of the resource attributes of value, rareness, inimitability, and nonsubstitutability for the success of their ventures, and whether they make trade-offs between these attributes or follow RBT, which maintains that all attributes must be attained simultaneously. Resource judgments made by a sample of 181 entrepreneurs reveal that, while value and inimitability have a positive impact on resource importance, nonsubstitutability is only marginally positive, and rareness has a negative impact. Moreover, and contrary to RBT, entrepreneurs make trade-offs between resource attributes. Given prior empirical support for the critical influence of all four attributes on venture success, our findings uncover a systematic influence of judgment heuristics, cognitive biases, and institutional constraints in entrepreneurial resource judgments, and thereby provide a starting point for researchers and entrepreneurs alike to improve both theoretical models and outcomes of resource judgments.

Keywords: Judgment analysis, cognitions, behavioral decision making, resource-evaluation frameworks

Suggested Citation

Kemmerer, Benedict and Walter, Jorge and Kellermanns, Franz W. and Narayanan, V. K., A Judgment-Analysis Perspective on Entrepreneurs' Resource Evaluations (2012). Kemmerer, B., Walter, J., Kellermanns, F. W., & Narayanan, V. K. (2012). A judgment–analysis perspective on entrepreneurs’ resource evaluations. Journal of Business Research, 65(8): 1102–1108.. Available at SSRN: https://ssrn.com/abstract=1912061

Benedict Kemmerer

BSH Bosch and Siemens Home Appliances Group ( email )

1901 Main Street, Suite 600
Irvine, CA 92614
United States

Jorge Walter (Contact Author)

The George Washington University - School of Business ( email )

School of Business
2201 G Street, NW, Funger Hall 615
Washington, DC 20052
United States

Franz W. Kellermanns

University of Tennessee, Knoxville ( email )

Knoxville, TN 37996
United States

V. K. Narayanan

Drexel University - LeBow College of Business ( email )

3141 Chestnut Street
Philadelphia, PA 19104
United States
215-895-6763 (Phone)

Paper statistics

Downloads
50
Abstract Views
715