*Special Issues in Asia Pacific Journal of Management*

*Institutions and Entrepreneurship in Emerging Economies*

Submission Deadline: November 1, 2017

SI Conference Date: June 20-21, 2018

SI Conference Venue: Nankai University, Tianjin, China

Estimated Date of Publication: March 2019

*Guest Editors:*

Sunny Li Sun, University of Missouri - Kansas City;

Weilei (Stone) Shi, City University of New York (CUNY) - Baruch College;

Yuli Zhang, Nankai University;

David Ahlstrom, Chinese University of Hong Kong.

*Consulting Editor: *

Mike W. Peng, University of Texas at Dallas


Emerging economies have become a major engine of global economic growth (if
measured by purchasing-power parity, the GDP of emerging economies overtook
the GDP of developed economies as of  2013). Their institutional
environments are quite different from that of developed countries. In
particular, the formal institutional environment is underdeveloped—creating
unevenly development (Ahlstrom & Bruton, 2010; Peng, 2003; Peng, Sun,
Pinkham, & Chen, 2009) — suggesting a lack of institutional
complementarity (Hall
& Gingerich, 2009; Shi, Sun, & Peng, 2012) or institutional fragility (Shi,
Sun, Yan, & Zhu, 2017).  Its existence calls for a revision of existing
theories of entrepreneurship and accounts for emergent phenomena (Bjørnskov
& Foss, 2016; Kim, Wennberg, & Croidieu, 2016; Meyer & Peng, 2016). Since
an emerging economy perspective focuses on the challenge and opportunity of
entrepreneurship activities in these institutionally less developed
regions, it contributes a unique value proposition to the study of
entrepreneurship research. We ask: *how do the institutions in emerging
economies change the entrepreneurial mechanisms and entrepreneurial
behaviors? How does the entrepreneur reshape the institutions?*

Our goals are to develop an integrative body of emerging economies related
knowledge for entrepreneurship research, encourage scholars to conduct
relevant research and to inform practice.

Given the multidisciplinary nature of entrepreneurship research, we invite
manuscripts that are rooted in various areas including, but not limited to
strategy, international business, economics, organizational behavior,
sociology, psychology, finance, to name a few. We welcome humanism-related
research, such as compassion, sustainability, and inclusive growth (Mair,
Martí, & Ventresca, 2012; Tsui, 2013).

Our call for research embraces theoretical and methodological pluralism. We
welcome a cross-disciplinary approach and diversified methods (qualitative
or quantitative), including comparative history analysis (Sarma & Sun,
2016; Vaara & Lamberg, 2016), case study, or multilevel designs (Kim et
al., 2016) to enrich our understanding of the entrepreneurial concept,
process, practice, and context.


The following research questions are examples of promising research
directions for entrepreneurship scholars. Our call for research embraces
theoretical and methodological pluralism.

1. Given many emerging economies are under institutional transition, what
is the role of government policy in facilitating or constraining
entrepreneurial activity? What is good/bad entrepreneurial capitalism(Ahlstrom,
2010; Baumol, Litan, & Schramm, 2007)? Take China for example, private
entrepreneurs are driving the growth of China’s GDP and innovation.
However, financing options are limited for them and the cost of financing
is particularly high  (Ding, Sun, & Au, 2014). Therefore, how government
can create a favorable environment (or ecosystem) to advance this sector is
increasing becoming an important priority in designing policies.

2. How are entrepreneurs developing a unique strategy to cope with
institutional void or fragility (Shi et al., 2017)? What kind of business
model could accommodate the lack of institution or informal institution?
For example, Shanda (China’s Internet entrepreneurship firm) has avoided
the software piracy problem by developing highly popular multiplayer online
role-playing games (Bhattacharya & Michael, 2008). While emerging markets
experience a significant level of pro-market reform, the nature of these
reforms differs widely in terms of scope and speed (Banalieva, Eddleston, &
Zellweger, 2015; Sun, Peng, Lee, & Tan, 2015). Even within a single
emerging economy, the rhythm of different reforms may differ or
converge—creating institutional fragility (Shi et al., 2017). How do these
reform characteristics affect entrepreneurial firms in terms of resource
accumulation and capability development?

3. The institutional environment in emerging economies also shapes
entrepreneurial practice. Do they develop a unique set of cognitive trait
and decision-making modes to cope with this uncertainty? How are the new
concepts in entrepreneurship like effectuation, bricolage, design thinking,
and narrative thinking (Garud & Giuliani, 2013; Sarasvathy, 2001), or new
practice of incubator, accelerator, and “lean start-up” applied in this
kind of environment? How do family, angel investor, venture capitalist take
different risk and develop different financing/governance structure to
support new venture growth (Ding et al., 2014)? Do these economies build
different entrepreneurial ecosystem (Autio & Thomas, 2014)? Are these
constructs and measurements still reliable and valid in the emerging

4. Growth and internationalization represent important challenges for
entrepreneurial firms (Oviatt & McDougall, 2005). Some of the key issues
involve how entrepreneurial firms pace themselves, how they synchronize
their activity cycles with those of their partners, customers, suppliers,
and other stakeholders (Sun & Im, 2015). Since different institutional
environment differ in their treatment of time, it will be interesting to
study how the pace, rhythm, sequence (Shi & Prescott, 2012), or opportunity
co-creation (Sun & Im, 2015) of entrepreneurial activities in emerging
economies are different from those from developed nations? How is the
hybrid entrepreneurial organization form, such as non-profit organization (Mair
et al., 2012), created or supported in this environment? What kind of
challenge will be faced by social entrepreneurs?

5. The institutional environment in emerging economies may even create the
behavioral paradox for entrepreneur, as the examples of innovation or
imitation in value design, coping with government or coping with market,
resource re-allocation or resource acquisition in venture growth, etc. Do
they follow the similar cognitive framework to their peers in Western when
exploring the opportunity? As the complexity, plurality, and
competitiveness of environments grow, how do entrepreneurs simultaneously
deal with multiple competing demands (for example, the expectation from
government and market) and technology innovation?  Furthermore, does the
strategy to deal with behavioral paradox represent the unique cognitive
resources/constraints in emerging economies? For example, India
entrepreneur may tries “jugaad” or frugal innovation to overcome the
resource constraints; other entrepreneur may explore the new opportunity
from the advanced mobile technology to rebuild the local fragile bank
industry. How could entrepreneur leverage the locality and contingency?

*Submission Process*

November 1, 2017 - Manuscripts must be submitted during the window between
September 1, 2017, and November 1, 2017, at the APJM manuscript submission
site Some papers could
be desk rejected if the guest editor believes them do not meet the theme of
the special issue. Other submissions will go through APJM’s double-blind
review process and follow the standard norms and processes.

February 1, 2018 - Authors are notified of first round review decision.

June 20-21, 2018 –  APJM SI Entrepreneurship Conference in Nankai
University, Tianjian, China. Authors of each paper are encouraged to
present at the conference. But conference participation is not a guarantee
or a condition for publication.

July 1, 2018 –first revisions due.

*About the Guest Editors*

*Dr. Sunny Li Sun* is an assistant professor of entrepreneurship and
innovation in Henry W. Bloch School of Management, University of
Missouri-Kansas City. He received a Ph.D. from the University of Texas at
Dallas (2010). His research interests cover entrepreneurship, corporate
governance, venture capital, network, and institutions. He has published
papers in *Strategic Management Journal, Journal of International Business
Studies, Entrepreneurship Theory and Practice, Journal of Business Ethics,
Journal of Management Studies, Academy of Management Perspective, Journal
of World Business, Asia Pacific Journal of Management*, *Industrial
Marketing Management, Journal of International Marketing*, and *Emerging
Markets Review.* He has four papers listed as “highly cited papers” (in the
top 1% of its academic field, based on Thomson Reuters’ Essential Science
Indicators) and received the Best Impact Award in Academy of Management
Perspectives (2009-2013) and the Robert H. Schaffer Award for the Best
Paper in Academy of Management 2013. Before joining the academia, Dr. Sun
has 11 years’ industrial experience in new venture creating, financing, and

*Dr. Weilei (Stone) Shi* is an associate professor of strategy in Zicklin
School of Business, City University of New York. He obtained his Ph.D in
Strategic Management from the University of Pittsburgh in 2008. Stone’s
research centers on the interaction between strategy and international
management. Specifically, Stone is interested in examining M&As and
alliances from both temporal and network perspectives. He is particularly
interested in examining how institutions in emerging economies affect
firms’ strategic initiatives. His papers have been published in *Strategic
Management Journal, Journal of International Business Studies, Journal of
Management, Journal of Management Studies, Academy of Management
Perspective, Organization Studies, Asia Pacific Journal of
Management*, and *the
Academy of Management Best Paper Proceeding*. His work also appeared
in *Advances
in Mergers and Acquisitions* in 2008 and *Researching Strategic Alliances:
Emerging Perspectives* in 2010. He serves on the editorial boards of
the *Journal
of Management Studies*, *Academy of Management Perspective*, and *Asia
Pacific Journal of Management*. Stone has been awarded the Outstanding
Reviewer Award in the International Management Division at the Academy from
2005 to 2007. Before joining the academia, Stone works for Roland Berger
Strategy Consultancy in their Shanghai office.

*Dr. Yuli Zhang *is a professor of management at School of Business, Nankai
University. He received his Ph.D in economics from Nankai University in
1995. Professor Yuli Zhang’s research focuses on entrepreneurship and
management education. Specifically, he is interested in new venture
strategy, entrepreneurship and innovation in transition economies. His
papers have been published in *Entrepreneurship Theory & Practice,
Strategic Entrepreneurship Journal, Journal of Business Ethics, Journal of
Developmental Entrepreneurship* and the other top tier Chinese management
journals. He services as the Changjiang Scholar of China, the dean of
School of Business, Nankai University, as well as the founding director of
Entrepreneurship Center of Nankai University.

*Dr. David Ahlstrom *is a professor in the management department at the

University of Hong Kong where he has taught for 21 years in international
management, innovation and leadership. His research interests include
international management, innovation, and entrepreneurship in emerging
economies. Professor Ahlstrom has published over 120 refereed articles in
publications such as *Academy of Management Review*, *Strategic Management
Journal*, *Entrepreneurship Theory and Practice,* and *Journal of Business
Venturing. * He was the chief editor of *Asia Pacific Journal of Management*
and is currently a senior editor of *Journal of World Business*.

*References: *

Ahlstrom, D. 2010. Innovation and growth: How business contributes to
society. *Academy of Management Perspectives*, 24(3): 10-23.

Ahlstrom, D. & Bruton, G. D. 2010. Rapid institutional shifts and the
co-evolution of entrepreneurial firms in transition economies.
Theory and Practice*, 34(3): 531-554.

Autio, E. & Thomas, L. 2014. Innovation ecosystems: Implications for
innovation management? In M. Dodgson, D. M. Gann, & N. Phillips (Eds.), *The
Oxford Handbook of Innovation Management*: 204-228. Oxford, UK: Oxford
University Press.

Banalieva, E. R., Eddleston, K. A., & Zellweger, T. M. 2015. When do family
firms have an advantage in transitioning economies? Toward a dynamic
institution-based view. *Strategic Management Journal*, 36(9): 1358-1377.

Baumol, W. J., Litan, R. E., & Schramm, C. J. 2007. *Good Capitalism, Bad
Capitalism, and the Economics of Growth and Prosperity*. New Haven, CT:
Yale University Press.

Bhattacharya, A. K. & Michael, D. C. 2008. How local companies keep
multinationals at bay. *Harvard Business Review*, 86(3): 84-95.

Bjørnskov, C. & Foss, N. J. 2016. Institutions, entrepreneurship, and
economic growth: What do we know and what do we still need to know? *Academy
of Management Perspectives*, 30(3): 292-315.

Ding, Z., Sun, S. L., & Au, K. 2014. Angel investors' selection criteria: A
comparative institutional perspective. *Asia Pacific Journal of Management*,
31(3): 705-731.

Garud, R. & Giuliani, A. P. 2013. A narrative perspective on
entrepreneurial opportunities. *Academy of Management Review*, 38(1):

Hall, P. A. & Gingerich, D. W. 2009. Varieties of capitalism and
institutional complementarities in the political economy: An empirical
analysis. *British Journal of Political Science*, 39(03): 449-482.

Kim, P. H., Wennberg, K., & Croidieu, G. 2016. Untapped riches of
meso-level applications in multilevel entrepreneurship mechanisms. *Academy
of Management Perspectives*, 30(3): 273-291.

Mair, J., Martí, I., & Ventresca, M. J. 2012. Building inclusive markets in
rural Bangladesh: How intermediaries work institutional voids. *Academy of
Management Journal*, 55(4): 819-850.

Meyer, K. E. & Peng, M. W. 2016. Theoretical foundations of emerging
economy business research. *Journal of International Business Studies*,
47(1): 3-22.

Oviatt, B. M. & McDougall, P. P. 2005. The internationalization of
entrepreneurship. *Journal of International Business Studies*, 36(1): 2-8.

Peng, M. W. 2003. Institutional transitions and strategic choices. *Academy
of Management Review*, 28(2): 275-296.

Peng, M. W., Sun, S. L., Pinkham, B., & Chen, H. 2009. The
institution-based view as a third leg for a strategy tripod. *Academy of
Management Perspectives*, 23(3): 63-81.

Sarasvathy, S. D. 2001. Causation and effectuation: Toward a theoretical
shift from economic inevitability to entrepreneurial contingency. *Academy
of Management Review*, 26(2): 243-263.

Sarma, S. & Sun, S. L. 2016. The genesis of fabless business model:
Institutional entrepreneurs in an adaptive ecosystem. *Asia Pacific Journal
of Management*, Forthcoming.

Shi, W. & Prescott, J. E. 2012. Rhythm and entrainment of acquisition and
alliance initiatives and firm performance: A temporal perspective.
Studies*, 33(10): 1281-1310.

Shi, W., Sun, S. L., & Peng, M. W. 2012. Sub-national institutional
contingencies, network positions, and IJV partner selection. *Journal of
Management Studies*, 49(7): 1221-1245.

Shi, W., Sun, S. L., Yan, D., & Zhu, Z. 2017. Institutional fragility and
outward foreign direct investment from China. *Journal of International
Business Studies*(Forthcoming).

Sun, S. L. & Im, J. 2015. Cutting microfinance interest rates: An
opportunity co-creation perspective. *Entrepreneurship Theory and Practice*,
39(1): 101-128.

Sun, S. L., Peng, M. W., Lee, R. P., & Tan, W. 2015. Institutional open
access in the home country and outward internationalization. *Journal of
World Business*, 50(1): 234-246.

Tsui, A. 2013. On compassion in scholarship: Why should we care? *Academy
of Management Review*, 38(2): 167-180.

Vaara, E. & Lamberg, J.-A. 2016. Taking historical embeddedness seriously:
Three historical approaches to advance strategy process and practice
research. *Academy of Management Review*, 41(4): 633-657.

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