PROCEEDINGS OF THE TWENTIETH
ANNUAL
ENTREPRENEURSHIP RESEARCH
CONFERENCE
Sponsored by
Arthur M.
Blank Center for Entrepreneurship
Babson College
Babson Park, Massachusetts 02457-0310
Kauffman Center for Entrepreneurial
Leadership
Kansas City, Missouri 64112-2776
Edited by
Paul D. Reynolds
Babson College
Erkko Autio
Helsinki University of Technology
Candida G. Brush
Boston University
William D. Bygrave
Babson College
Sophie Manigart
University of Gent
Harry J. Sapienza
University of South Carolina
Kelly G. Shaver
College of William & Mary
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