University of Navarra

efmd 35th EISB Conference

Entrepreneurship, Innovation,

and Small Business Conference 2005

Sustaining the Entrepreneurial Spirit Over Time:Implications for young companies, family businesses, and established companies

Barcelona, September 12—14, 2005

CONFERENCE PROGRAM

efmd 35th EISB Conference

Sustaining the Entrepreneurial Spirit Over Time:Implications for young companies, family businesses,and established companies

Welcome

Dear Friends,

We would like to take this opportunity to welcome you to the

35th EISB Conference, which is held at IESE Business School from

September 12-14, 2005.

The theme of this year s conference is Sustaining the

Entrepreneurial Spirit Over Time. We believe that it is as important

to consider the sustainability of the entrepreneurial spirit for the

success of firms, industries, and regions as it is to emphasize

entrepreneurial creation. We are grateful for the interest shown

by professors around the world in the conference, what has turned

out on high number of submissions. We have put together an

exciting program of keynote addresses, parallel sessions, and

workshops in order that participants have exposure to cutting-

edge ideas and best practices on a host of issues relating to the

conference theme (please see program included).

The conference is taking place in a city that is considered to be

one of the most beautiful in the world, with a rich offering of

art, architecture, cuisine, and leisure activities. The social part of

the program offers the possibility to visit the historical setting of

the City Hall located in the core of Barcelona. The Best Paper

Award Ceremony, sponsored by the Gate2Growth Academic

Network in Entrepreneurship will take us to one of the most

beautiful sitesights of the city.

We look forward to welcoming you in person at IESE

Business School.

Profs. Julia Prats and Rama Velamuri

Conference Co-Chairs

Conference Organizing Committee

Griet Houbrechts EFMD

Neus Mart nez IESE Business School

Liliana Petrella EFMD

Julia Prats IESE Business School

Amparo de San Jos IESE Business School

Juan Luis Segurado IESE Business School

Rama Velamuri IESE Business School

Scientific Advisory Committee

Michel Bernasconi CERAM

Hamid Bouchikhi ESSEC

Bart Clarysse Vlerick Leuven Gent

Management School

Clark Gilbert Harvard Business School

Ha Hoang INSEAD

Benoit Leleux IMD

John Mullins London Business School

Pedro Nueno IESE Business School

Antti Paasio Turku School of Economics and

Business Administration

Ganesh Prabhu Indian Institute of Management,

Bangalore

Mark de Rond University of Cambridge

Juan Roure IESE Business School

Sankaran Venkataraman University of Virginia

David Watkins Southampton Business School

Program

Monday, September 12

12:30 - 14:00 RegistrationIESE Conference Registration Desk

14:00 - 14:30 Opening SessionAuditorium

Prof. Jordi Canals, Dean, IESE

Prof. Pedro Nueno, Holder of Bertr n FoundationChair of Entrepreneurship, IESE

Prof. Hamid Bouchiki, ESSEC, France and Presidentof EFMD s EISB Network, EFMD

14:30 - 16:00 Plenary sessionAuditorium

Entrepreneurship Education andRegional DevelopmentProf. Sankaran Venkataraman, University of Virginia

The Story of an EnterpreneurAndrea Christenson, Kathe Kruse Puppen GmbH

Moderator:Prof. Rama Velamuri, Co-Conference Chairman

16:00 - 16:30 Coffee break - Cafeteria

16:30 - 18:00 Session 1

Track 1 - Family Business Room G-301

Track 2 - Growth Process Room G-302

Track 3 - The Entrepreneur Room F-302

Track 4 - New & Young VenturesRoom B-102

Track 5 - Venture FinanceRoom F-402

18:30 Cocktail Reception*Buses leaving from IESE main entrance

* Place to be confirmed

Tuesday, September 13

08:15 Buses leaving from hotels*

09:00 - 10:30 Session 2

Track 1 - Family Business Room G-301

Track 2 - Growth Process Room G-302

Track 3 - Others Room F-302

Track 4 - New & Young VenturesRoom B-102

Track 6 - Innovation & TechnologyRoom F-402

10:30 - 11:00 Coffee break - Cafeteria

11:00 - 12:30 Session 3

Track 1 - Family Business Room G-301

Track 5 - Venture Finance Room G-302

Track 6 - Innovation & TechnologyRoom F-402

Track 7 - Corporate EntrepreneurshipRoom G-201

12:30 - 14:00 Lunch - IESE Restaurant

14:30 - 15:30 Parallel workshops

Workshop 1Different Models of Successful IncubationRoom G-301

Workshop 2Building Ethical Values Into the EntrepreneurshipCurriculumRoom G-302

15:30 - 16:00 Coffee break - Cafeteria

16:00 - 17:30 Parallel workshops

Workshop 3TechnopreneurshipRoom G-201

Workshop 4Gate2Growth Academic Network

Presentations of the European Best PapersAuditorium

17:45 Buses leaving from IESE main entrance to hotels*

19:30 Buses leaving from hotels to dinner venue*

20:30 Conference Dinner andBest Paper Award CeremonyRestaurant Xalet de Montju cAv. de Miramar, 31Barcelona

23:00 Buses back to hotels*

* Bus service will run for the hotels recommended for the Conference: Sansi Hotel, Hotel Mikado, Hotel Las Arenas and Residencia Torre Girona

Wednesday, September 14

08:15 Buses leaving from hotels*

09:00 - 10:30 Session 4

Track 2 - Growth Process Room G-302

Track 3 - Others Room F-302

Track 4 - New & Young Ventures Room G-201

Track 5 - Venture FinanceRoom F-402

Track 6 - Innovation & TechnologyRoom G-301

10:30 - 11:00 Coffee Break - Cafeteria

11:00 - 12:30 Plenary SessionAuditorium

Presentation**Prof. Herman Daems, Vlerick and IESE;Chairman of the Board, GIMV; Chairman of the Board, BARCO and immediate past-chairmanof EVCA

The Take-off of VuelingCarlos Mu oz, Founder and CEO, Vueling

12:30 - 13:30 Conclusions and ReflectionsAuditorium

Prof. Juan Roure, Entrepreneurship Department,IESE

Prof. David Watkins, Chair of the Postgraduate Research Centre, Southampton Solent University

Prof. Hamid Bouchiki, ESSEC, France and Presidentof EFMD s EISB Network, EFMD

13:30 Farewell Lunch - IESE Restaurant

** Title to be confirmed

* Bus service will run for the hotels recommended for the Conference: Sansi Hotel, Hotel Mikado, Hotel Las Arenas and Residencia Torre Girona

Events at a glance

Monday, 12 Tuesday, 13 am Tuesday, 13 pm Wednesday, 14

REGISTRATION IESE B-Building

OPENING, CLOSING & PLENARY SESSIONS Auditorium

PARALLEL SESSIONSTrack 1. Family Business G-301 G-301Track 2. Growth Process G-302 G-302 G-302Track 3. The Entrepreneur & Others F-302 F-302/G-301 F-302Track 4. New & Young Ventures B-102 B-102 G-201Track 5. Venture Finance F-402 G-302 F-402Track 6. Innovation & Technology F-402 G-301Track 7. Corporate Entrepreneurship G-201

PARALLEL WORKSHOPSWorkshop 1. Different Models of Successful G-301IncubationWorkshop 2. Building Ethical Values Into G-302the Entrepreneurship CurriculumWorkshop 3. Technopreneurship G-201Workshop 4. Gate2Growth Academic AuditoriumNetwork- Presentations of theEuropean Best Papers

˚˚LUNCH IESE Restaurant IESE Restaurant

˚

COCKTAIL RECEPTION, CONFERENCE DINNER RestaurantAND BEST PAPER AWARD CEREMONY Xalet of Montju c(Sponsored by the Gate2Growth AcademicNetwork in Entrepreneurship, Innovationand Finance)

Track 5. Venture FinanceRoom F-402Æ Women Angel Investors: A Growing Force in the Angel Market. Sohl, Jeffrey & Hill, Laura (University of New Hampshire)Æ Governance of Venture Capital-Backed Companies. Kharmach, Houda (IAE de Paris - Universit Paris 1 Panth on — Sorbonne)Æ Alliance or Investment? — Exploring the Relationship between Venture Capitalists and Entrepreneurs. Seppala, Martin (Hanken,Swedish School of Economics and Business Administration)

Æ External Private Equity Financing and the Growth of New Technology Based Firms: The Chicken and Egg Problem Revisited.Bertoni, Fabio; Colombo, Massimo G. & Grilli, Luca (Politecnico di Milano)

Monday, September 12

12:30-14:00 Registration IESE Conference Registration Desk, B -Building

14:00-14:30 Opening Session AuditoriumProf. Jordi Canals, Dean of IESEProf. Pedro Nueno, Holder of the Bertr n Foundation Chair of Entrepreneurship, IESEProf. Hamid Bouchikhi, ESSEC, France and President of EFMD’s EISB Network, EFMD

14:30-16:00 Plenary Session AuditoriumEntrepreneurship Education and Regional Development - Prof. Sankaran Venkataraman, University of VirginaThe Story of an Entrepreneur - Andrea Christenson, Kathe Kruse Puppen GmbH

16:00-16:30 Coffee Break - Cafeteria

16:30-18:00 SESSION 1

18:30 Cocktail Reception

Track 1. Family BusinessRoom G- 301Æ Indian Family Businesses: Their Survival Beyond FourGenerations. Ramachandran, Kavil (Indian School of Business,Gachibowli)

Æ Effective Knowledge Transfer in Family Firms. Trevinyo-Rodr guez, Rosa Nelly & T pies, Josep (IESE Business School)

Æ The Sustainability of Asian Wealth in the UK. Dhaliwal, Spinder(University of Surrey)

Æ Operationalising A Network-level Performance MeasurementSystem for SME Networks. Varam ki, Elina (University of Vaasa);J rvenp , Marko (University of Jyv skyl ) & Kohtam ki, Marko(University of Vaasa)

Track 2. Growth ProcessRoom G-302Æ Why Do Some Firms Engage in International Activities While Others Remain Strictly on the Domestic Market?.

Arenius, Pia & Chantrain, Diego (University of Lausanne (HEC))Æ Attribution of Success as a Factor of Development. Gladys-Jakobik, Jolanta (Warsaw School of Economics)

Æ The Impact of the Knowledge Transfer Scheme on theDevelopment of Marketing Capability in Small and MediumSized Enterprises. Harris, Robert (University of Wolverhampton)

Æ Research on Small Firm Growth: A Review. Davidsson, Per(Queensland University of Technology and Jonkoping InternationalBusiness School); Achtenhagen, Leona & Naldi, Lucia (JonkopingInternational Business School)

Track 3. The EntrepreneurRoom F-302Æ Making Entrepreneurs. Harmeling, Susan (University of Virginia)Æ The Entrepreneur as a Source of Sustained Entrepreneurship: The Role of Business Ownership Experience. Ucbasaran, Deniz; Westhead, Paul & Wright, Mike (Nottingham University Business School)Æ Holistic Decision Making and the Sustainability of theEntrepreneurial Firm. Ari o, Miguel Angel; V zquez-Dodero,Juan Carlos & Velamuri, S. Ramakrishna (IESE Business School)

Track 4. New and Young VenturesRoom B-102Æ Academic Start-Ups and Other New Technology-Based Firms:Are They Different? Piva, Evila & Colombo, Massimo (Politecnicodi Milano)

Æ The Determinants of Survival and Growth in the FrenchICT Sector. Lasch, Frank (Montpellier Business School / CEROM);Le Roy, Fr d ric (Montpellier Business School / ERFI-CEROM) &Yami, Sa d (University of Montpellier I, ISEM / ERFI — CEROM)

Shortlisted Paper for the Gate2Growth Academic Network’s Best Paper Awardhttp://www.gate2growth.com/academicnetwork

Tuesday, September 13

09:00-10:30 SESSION 2

Track 1. Family BusinessRoom G- 301Æ The Role of Corporate Identity in Polish Companies - 15Years after the Turning Point. Nikodemska-Wolowik, AnnaMaria (University of Gdansk)

Æ Entrepreneurhip as a Creative Industry within the Cultural Sector in a Small Society. Einarsson, Agust (University of Iceland)Æ Transgenerational Views on the Success and Future Development of Family Firms. Glas, Miroslav; Coh, Marko (University of Ljubljana) & Jaka, Vadnjal (GEA College of Entrepreneurship Piran)

Track 2. Growth ProcessRoom G-302Æ Creating IT Industrial Clusters. Ramachandran, Kavil

(Indian School of Business) & Ray, Sougata (Indian Instituteof Management Calcuta)

Æ Growth Orientation among Academic Entrepreneurs.Paasio, Kaisu & Tommi, Pukkinen (Turku School of Economicsand Business Administration)

Æ A Factor Analytic Study of the Determinants of Successin Manufacturing SMEs. Wijewardena, Hema & De Zoysa,Anura (University of Wollongong)

Æ How Do Entrepreneurial Teams Influence New VentureHigh Growth?. Vanaelst, Iris (Vrije Universiteit Brussel);Clarysse, Bart (Ghent University/Vlerick Leuven Ghent ManagementSchool) & Lockett, Andy (Nottingham University Business School)

Track 3. OthersRoom F-302Æ Why Does Understanding the Entrepreneurial Process Triggering Phase Matter. Degeorge, Jean Michel (ESC Saint Etienne) & Fayolle, Alain (INP Grenoble)Æ Understanding the Global SME: Feeding the Growth - AnAgenda for Engagement. Reason, Lester-Lloyd (AshcroftInternational Business School and Anglia Polytechnic University);Sear, Leigh (Woodholmes Group) & Mughan, Terry (AshcroftInternational Business School and Anglia Polytechnic University)

Æ Strategic Decision Making in Small Innovative Firms - ThePerceived Importance of Other Voices. Mazzarol, Tim (Universityof Western Australia) & Reboud, Sophie (Groupe ESC DijonBourgogne)

Track 4. New & Young VenturesRoom B-102Æ Startup Firms Growth, Management Control Systems Adoption, and Performance Implications. Davila, Antonio (IESE Business School) & Foster, George (Stanford University)Æ Reputational Change in Technology-Based Firms. Reuber,

Rebecca (University of Toronto); Fischer, Eileen & Deutsch, Yuval(York University)

Æ The Development of Innovation Strategy in SME Context: AStudy Case. Le Roy, Fr d ric (Montpellier Business School / ERFI-CEROM) & Yami, Sa d (University of Montpellier I, ISEM / ERFI —CEROM)

Track 6. Innovation & TechnologyRoom F-402Æ How Much Does Informality in Management Matter for SME Innovation. Cosh, Andy; Fu, Xiaolan & Hughes, Alan (University ofCambridge)

Æ ICT in Established German Small Businesses: Patterns,Determinants and Impacts on Firm Development Beyond the High TechSectors. Rothgang, Michael & Trettin, Lutz (RWI Essen/Germany (Rhine-Westphalian Institute for Economic Research)

Æ Capability Building and Learning through Networking: Some Evidence from Australian High-Tech Industry. Mohannak, Kavoos(Queensland University of Technology)

Æ Selling Science or Snake Oil? High-Technology Entrepreneurship During the Business Cycle. Kitson, Michael (University ofCambridge)

10:30-11:00 Coffee break - Cafeteria

11:00-12:30 SESSION 3

Track 3. OthersRoom G- 301Æ Mapping Innovation and Entrepreneurial Spirit in Small andMedium-sized Enterprises: Inputs, Process and Management.Durden, Geoffrey; Thyil, Vijaya (La Trobe University Australia) &Truche, Marcel (ESC Dijon France)

Æ Evaluating the Impact and Utility of Business SupportServices for New Ventures: A Research Program. Veil, Jerome(ESSEC)

Æ The Strong Poet in Ethics and Entrepreneurship: A Look atthe Role of Contingency. Harmeling, Susan; Sarasvathy, Saras(University of Virginia) & Freeman, R. Edward

Track 5. Venture FinanceRoom G-302Æ Agency Costs, Reputation and Collaboration: Evidencefrom Syndication in the Management Buyout Market.Meuleman, Miguel (Ghent University); Lockett, Andy(Nottingham University) & Manigart, Sophie (Ghent University;Vlerick Leuven Gent Management School)

Æ Venture Capital as a Pattern for Sustainable Social EnterpriseFinance. Harrison, Pegram (European Business School London)

Æ Rational and Efficiency of Public Intervention in the Field ofBusiness Angels: Additional Equity, Loans and Guarantees. SanJose, Amparo (IESE Business School); Aernoudt, Rudy (EHSAL) &Roure, Juan (IESE Business School)

Shortlisted Paper for the Gate2Growth Academic Network’s Best Paper Awardhttp://www.gate2growth.com/academicnetwork

Tuesday, September 13

11:00-12:30 Track 6. Innovation & TechnologyRoom F-402Æ Sustainability of Regional Initiatives for TechnologyEntrepreneurship. Phillips, Fred (Maastricht School ofManagement)

Æ Sustaining Entrepreneurship through Rites de Passage.Kirk, R David (University of Dundee)

Æ Spin-offs as a University Technology TransferStrategy. Bikfalvi, Andrea (Universitat Rivira i Virgili);Condom Vil , Pere & Valls Pasola, Jaume (Universitatde Girona)

Æ Capturing and Appropriating Value from Innovations forSmall Businesses. Duhamel, Francois (HEC School ofManagement); Reboud, Sophie (Ecole Sup rieure de Commercede Dijon) & Santi, Michel (HEC School of Management)

Track 7. Corporate EntrepreneurshipRoom G-201Æ From the Employee s Perspective: Autonomy, Teamwork, andCorporate Entrepreneurial Culture. Monsen, Erik (Max PlanckInstitute for Research into Economic Systems); Ford, Randal & Boss,R. Wayne (University of Colorado at Boulder, USA)

Æ Corporate Spin offs in the Incubator. Gullander, Staffan & Nouira,Semir (Linkoping University)

12:30-14:00 Lunch - IESE Restaurant

14:00-15:30 PARALLEL WORKSHOPS

WORKSHOP 1. Different Models of Successful IncubationRoom G-301Coordinator: Prof. Julia Prats, IESE Business SchoolPanelists:Æ Mateu Hern ndez, Barcelona ActivaÆ Peter Harman, Deputy Chief ExecutiveÆ Fran oise Depoorter, Directrice Ruche Technologique du Nord

WORKSHOP 2. Building Ethical Values Into theEntrepreneurship CurriculumRoom G-302Coordinator: Prof. Josep Maria Rosanas, IESE Business SchoolPanelists:Æ Rudy Aernoudt, Government of Flanders, BelgiumÆ Prof. Sankaran Venkataraman, University of Virginia

15:30-16:00 Coffee break - Cafeteria

16:00-17:30 PARALLEL WORKSHOPS

WORKSHOP 3. TechnopreneurshipRoom G-201Coordinator: Prof. Antonio D vila, IESE Business SchoolPanelists:Æ Prof. Aard J. Groen, University of TwenteÆ Prof. Michael Bernasconi, CERAM

17:45 Main entrance. Buses leaving from IESE (only to conference recommended hotels)

19:30 Buses leaving from hotels to Conference Dinner Restaurant (only from conference recommended hotels)

20:30 Conference Dinner and European Best Paper Award Ceremony(Sponsored by the Gate2Growth Academic Network in Entrepreneurship, Innovation and Finance)Restaurant Xalet of Montju cAv. de Miramar, 31Barcelona

23:00 Main entrance. Buses leaving to hotels (only to conference recommended hotels)

WORKSHOP 4. Gate2Growth Academic Network-Presentations of the European Best PapersAuditoriumCoordinator: Prof. Bart Clarysse, Scientific Director,Gate2Growth Academic Network in Entrepreneurship,Innovation and FinancePresenters:Three winners of the Best Paper Awards

Shortlisted Paper for the Gate2Growth Academic Network’s Best Paper Awardhttp://www.gate2growth.com/academicnetwork

Wednesday, September 14

09:00-10:30 SESSION 4

Track 2. Growth ProcessRoom G-302Æ The Impact of Owner/Manager’s Mentality on the Financial Performance of SMEs: The Case of Sri Lanka. Wijewardena, Hema & De Zoysa, Anura (University of Wollongong)Æ When Public Policies Catch up with Entrepreneurship. Vargas,

Braulio (ESAN). Planning and Growth Characteristics of Small Business

Owner-Managers. Mazzarol, Tim (University of Western Australia). Economic Growth in Health Care in Montenegro Using

Leadership and Technology as Tools in the EntrepreneurialProcess. Syvertsen, Carsten (Oslo School of Management)

Track 3. OthersRoom F-302. What Make the Difference among University Alumni on theIntention to New Venture Creation? Implications for PublicPolicy Izquierdo, Edgar; Deschoolmeester, Dirk & Valcke, Martin(University of Gent)

Æ Entrepreneurial Commitment Dynamics And Value(s) Creation.Gaillard Giordani, Laura (Bocconi University)

Track 4. New and Young VenturesRoom G-201Æ Consequences of International Experience on New Venture Development. Pulkkinen, Johanna (University of Vaasa)Æ From Linear to Circular Dynamics in the Promotionof Small Businesses Incubation in Peru. Vargas, Braulio(ESAN, Graduate School of Business Administration)

Æ The Entrepreneurial Spirit of the members of European JuniorEnterprises. Redien-Collot, Renaud (Advancia University);Jesenovec, Mojca & Tulling, Klaartje (JADE)

Track 5. Venture FinanceRoom F-402Æ A Dynamic View on External Financing Choices ofGrowth Oriented Ventures. Baeyens, Katleen (GhentUniversity) & Manigart, Sophie (Vlerick Leuven GentManagement School; Ghent University)

Æ Unbiased Estimation of Economic Impact of Venture CapitalBacked Firms. Alemany, Luisa (ESADE — URL) & Marti, Jose(Universidad Complutense)

Æ The Export Intensity of Venture Capital BackedCompanies. Wright, Mike (University of Nottingham);Lockett, Andy (Nottingham University) & Burrows, Andy(Nottingham University)

Æ Do Business Angels Alter the Risk/Return Equation in EarlyStage Investments? Heukamp, Franz; Liechtenstein, Heinrich &Herrera, Ignacio (IESE Business School)

Track 6. Innovation & TechnologyRoom G-301Æ The Effects of Owner Identity and Financial Markets on R&D Investments. A Study of Western European Firms. Munari, Federico; Oriani, Raffaele & Sobrero, Maurizio (University of Bologna)Æ Unlocking Innovation in UK Universities, the Return on UKGovernment. Logan, Julie (Cass Business School; City UniversityLondon)

Æ Why Do Incubators Succeed?. Gray, John (University of WesternSidney) & Niemvo, Fr d ric (Troyes Graduate School of Management)

10:30-11:00 Coffee break - Cafeteria

11:00-12:30 Plenary SessionAuditoriumÆ Presentation*. Prof. Herman Daems, Vlerick and IESE; Chairman of the Board, GIMV; Chairman of the Board, BARCOand immediate past-chairman of EVCA

Æ The Take-off of Vueling. Carlos Mu oz, Founder and CEO Vueling

12:30-13:30 Conclusions and ReflectionsAuditoriumÆ Prof. Joan Roure, Entrepreneurship Department, IESEÆ Prof. David Watkins, Chair of the Postgraduate Research Centre, Southampton Solent UniversityÆ Prof. Hamid Bouchikhi, ESSEC, France and President of EFMD’s EISB Network, EFMD

13:30Farewell LunchIESE Restaurant

Shortlisted Paper for the Gate2Growth Academic Network’s Best Paper Awardhttp://www.gate2growth.com/academicnetwork * Title to be confirmed

Keynote Speakers

Prof. Hamid BouchikhiHamid Bouchikhi is professor at ESSEC in France and President ofEFMD’s EISB Network. Furthermore he is the founder and director ofthe New Business Center. He holds a Bachelor in Business Administrationfrom ISCAE in Casablanca, Morocco; a MSc in Management InformationSystems, a MSc in Scientific Management and a Doctorate inManagement — all from Paris-Dauphine University.His areas of specialization include entrepreneurship, strategy,organization theory, and managerial innovation. He has taughtat Keio University in Tokyo, Wharton School of University ofPennsylvania, University Putra Malaysia and the Euro-ArabManagement School in Granada, Spain. Prof. Bouchikhi haspublished in numerous journals including Organization Science,Sloan Management Review and Harvard Business Review.

Prof. Jordi CanalsJordi Canals is the Dean of IESE Business School and professor ofeconomics and general management. From 1992 to 2001, heserved as Associate Dean of IESE.Dr. Canals is a recognized scholar in the areas of corporate strategy,corporate governance, globalization and banking, and the authorof numerous books and articles, including Managing CorporateGrowth (Oxford University Press, 2000), Universal Banking:Theoretical Perspectives and International Comparisons (OxfordUniversity Press, 1997), La internacionalizaci n de la empresa(McGraw-Hill, 1994) and Competitive Strategies in EuropeanBanking (Oxford University Press, 1993).Dean Canals has served as Guest Scholar at the InternationalMonetary Fund, Visiting Scholar at the World Bank, Post-DoctoralFellow at the Harvard Business School and Guest Scholar at theBrookings Institution. He earned his PhD in Economics from theUniversity of Barcelona.He is a board member of GMAC and the European Institute forAdvanced Studies in Management. He is a founding member ofthe European Shadow Financial Regulatory Committee, Europe’sleading independent oversight group on European banking andfinancial affairs. He is also a member of a new CorporateGovernance Commission set up by the Spanish Government inJuly 2002.

Andrea ChristensonAndrea Christenson is managing partner and owner of Kathe KrusePuppen GmbH, a luxury doll making company started by the Krusefamily in Germany. She and her husband acquired 70% of thecompany in 1989 which was then undergoing financial difficulties.She diversified the company s main product line of adult collectorsdolls to include play dolls, toys made of ecofriendly materials,accessories for babies rooms, etc. More important she propelledthe company s international expansion, thus increasing salessubstantially.Today, the company is one of the world s leading doll companies anda luxury brand in Germany, known for its high quality and meticulousattention to detail. The Kathe Kruse Puppen museum is located inDonauwoerth, Bavaria, where the company started in 1905.Andrea Christenson graduated in Economics in Vienna/Austria andreceived her MBA from IESE Business School, graduating second inher class. Prior to joining Kathe Kruse Puppen, she worked for theBoston Consulting Group. Christenson was a senior manager in theUS-based company s Munich office.

Prof. Herman DaemsDr. Herman Daems is Chairman of the Board of GIMV and Chairmanof the Board of BARCO. Daems came in 1999 to the chairmanshipof GIMV after a career in academia, policy-making and consulting.From 1990 till 1993 Daems was a partner with the Dutch consultingfirm Horringa & de Koning, a Member firm of the Boston ConsultingGroup. From 1987 till 1990 Daems was Visiting Professor at theHarvard Business School where he taught Competition & Strategyin the MBA-program. He held visiting faculty appointments atthe University of California in Los Angeles (UCLA), the Universityof California in Davis (UCD).Daems published and edited several books among which in English:Holding Company and Corporate Control; Managerial Hierarchies;The Rise of Managerial Capitalism and Strategic Groups, StrategicMoves and Performance.Daems studied first Theoretical Physics (1968) and later Economics(1972) at KU Leuven. He holds a PhD (1975) in Economics fromKU Leuven. He was a fellow of the Social Science Foundation inNew York, fellow of the German Marshal Fund in Washington,NATO-fellow, and a fellow of the Nationaal Fonds voorWetenschappelijk Onderzoek in Belgium. He was twice a FulbrightFellow. Professor Daems is immediate past-chairman of EVCA, theEuropean Association of Private Equity and Venture Capital. Heis also a member of the board of Coware Inc., GITP Internationaland Efico.

Carlos Mu ozCarlos Mu oz is Chief Executive Officer and co-founder of VuelingAirlines with base in Barcelona, whose set-up he designed, financed,and executed. The objective of Vueling is to link Barcelona withthe main capitals of Europe and the West Mediterranean. Hebrought in an experienced management team and strategicpartners from the industry as well as one of Europe s leadingprivate equity funds. Vueling Airlines has the highest capitalizationin Europe, with an initial investment of 30 million Euros.Carlos Mu oz has a Bachelor degree in Business Administrationfrom Universidad Pontificia de Comillas (ICADE) and received hisMaster from Harvard Business School. Prior to founding VuelingAirlines in 2002, he worked for McKinsey in San Francisco, USAand was the Co-Managing Director and Marketing Director ofAntonio Mu oz y Cia. for several years.

Prof. Pedro NuenoPedro Nueno is Professor of IESE and holder of the BertranFoundation Chair on Entrepreneurship. He is as well Professorand Executive President at the China Europe InternationalBusiness School (CEIBS) in Shanghai and he serves as Vice ChancellorEurope (former Chancellor) at the International Academy ofManagement.Pedro Nueno graduated as Industrial Engineer from PolytechnicUniversity (Barcelona) and obtained his Doctor of BusinessAdministration from Harvard University in 1973.He is author of Entrepreneuring. Towards 2010 (Spanish, English,2005), of Compitiendo en el Siglo XXI (Spanish, 1998),Entrepreneuring (English, Spanish, 1994), and CorporateTurnaround (English, French, Dutch, Spanish, 1992) amongstother books. He is coauthor of The Light and the Shadow (English1997), which got translated into Spanish, Mandarin, Catalanand German.

Prof. Nueno is founder and chairman of FINAVES, the venturecapital corporation associated to the entrepreneurship activity ofIESE Alumni. He is a member of the board or advisory board ofseveral listed and privately held companies in USA, China andEurope. He has received the following Honors: Officer’s Cross ofthe Order of Civil Merit, Spanish Government, 2003; Cross of SaintJordi, Government of Catalonia, 2003, and Magnolia Award,Government of Shanghai, 2004. Pedro Nueno has been appointed(May 2005) Member of the Visiting Committee of the HarvardBusiness School by the Office of Governing Boards of HarvardUniversity.

Prof. Juan RoureJuan Roure is professor in the department of entrepreneurship.He has a degree in Industrial Engineering from PolytechnicUniversity of Catalunya and a Master of Business Administrationfrom ESADE. He received his Doctor of Philosophy in EngineeringManagement from Stanford University and was a visiting scholarin the VIS Program at Harvard Business School. He has taught atuniversities and business schools around the world such as INSEAD,Stanford, and CEIBS in Shanghai and Beijing. His areas of interestinclude innovation, entrepreneurship and new ventures, strategyand negotiation as a management process.The Annual Time Digital Europe 2000 selected him among the 25most influential people on the European Technology scene. Hehas published numerous articles, books and book chapters aboutentrepreneurship, strategy and new ventures.

Prof. Sankaran VenkataramanSankaran Venkataraman ( Venkat ) is the MasterCard Professorof Business Administration at the Darden Graduate School ofBusiness Administration, University of Virginia. He is a memberof the Strategy, Entrepreneurship and Ethics area at Darden andteaches MBA and executive level courses in strategy andentrepreneurship. He is an internationally renowned scholar andeducator in the field of entrepreneurship and has profoundlyinfluenced theory development in the area. He has publishedextensively and has lectured around the world. He also serves asthe Director of Research of the Batten Institute and is the Editorof the Journal of Business Venturing. He has earned theOutstanding Faculty Award at Darden and was voted the MostPopular Professor at Business Week Online based on a poll of theDarden students.As a corporate planning executive in a major Indian firm, he wasa part of a founding team that created and developed a highlysuccessful new business venture. He consults with Fortune 500firms as well as several small companies. He is advisor to firms,universities and government organizations. He is a speaker forand advisor to the Entrepreneurial Forum, a program of theInternational Trade Administration of the U.S. Department ofCommerce aimed at promoting trade through entrepreneurshiparound the world. Venkat was the first holder of the BruggemanDistinguished Chair at Rensselaer Polytechnic Institute, and, from1989 to 1995, he was Paul Yeakel Term Assistant Professor ofManagement at the Wharton School. He received his MA inEconomics from the Birla Institute of Technology and Science,Pilani, India; his MBA from the Indian Institute of Management(Calcutta); and his Ph.D. from the University of Minnesota.

Prof. David WatkinsDavid Watkins represents the EFMD s Entrepreneurship, Innovationand Small Business Network (EISB) on Probioprise. He edits theNetwork s publication Annual Review of Progress inEntrepreneurship Research, and will chair the EISB annualconference - the 36th in the series — in 2006. He is currentlyProfessor and Chair of the Postgraduate Research Centre atSouthampton Solent University. Formerly he was Professor ofEntrepreneurship at Bournemouth University, the first person inthe UK to bear this title. He has been active in enterprisedevelopment activities since 1971 when he introduced anEntrepreneurship Project into the core programme of the MBAdegree at Manchester Business School (Manchester University).This was followed by full-time courses for potential SME owner-managers. Both initiatives were firsts in the UK, and among theearliest anywhere in the world. He has more than a hundredpublications on entrepreneurship, innovation and small business,and has produced several TV series on business start-up andgrowth. He has consulted to the Commission, to the UK and othergovernments, and to numerous corporations in these specialistfields. Additionally, he has considerable experience acting asEvaluator and Reviewer to Framework projects that will helpinform the management of the Probioprise project.

Co-chairs of the Conference

Prof. Julia PratsM. Julia Prats is professor at IESE and head of the department ofEntrepreneurship. She is Doctor of Business Administration byHarvard University, Master of Business Administration by IESEBusiness School, and holds a Degree in Industrial Engineering fromPolytechnic University of Catalunya. ˚Professor Prats s primary area of interest is the entrepreneurialprocess which includes the identification, evaluation andimplementation of opportunities in any context. Central in thiswork is developing strategies and systems that help firms achieveprofitable growth. Her second work stream focuses on understandingthe key factors for building and managing Professional ServiceFirms. Over the years she had the opportunity to develop bothareas of interest through teaching, research projects and consultingwork.˚Professor Prats has published in international journals and congressproceedings, both for academic as well as the practitioners. Shealso has authored teaching materials and contributions to severalbooks on entrepreneurship and strategy related topics. At IESE,Professor Prats teaches courses in both open enrolment programsas well as in-company programs.˚ She has taught at WhartonBusiness School, IPADE (M xico) and INALDE (Colombia).

Map of IESE

Prof. S. Ramakrishna VelamuriS. Ramakrishna ̊ (Rama) ̊ Velamuri is Professor for Entrepreneurshipand Negotiation in the MBA and executive education programs˚atIESE Business School. He is also the academic director of IESE snew international executive education program Inside India .˚Heis a visiting professor at the University of Saarland in Germany,the University of Piura in Peru, and at the Indian School of Businessin India. He has previously taught at the University of Virginia,Boston University and the Ecole Nationale des Ponts et Chaussees.Rama has a Bachelor’s degree from the˚University of Madras, aMaster of Business Administration from IESE Business Schooland˚a Phd˚from The Darden Graduate School of Business atUniversity of Virginia. His research has been published in bothacademic and practitioner outlets: Journal of Business Venturing,Business Ethics Quarterly, Journal of Business Ethics (forthcoming),Journal of Entrepreneurial Finance and Business Ventures(forthcoming), Financial Times Mastering Management Series, TheHindu, Business Line, Actualidad Econ mica, Universia BusinessReview and La Vanguardia. He has also contributed several bookchapters on entrepreneurship and strategy. Prior to joiningacademe,˚Professor Velamuri worked for six years in managerialpositions in Grupo Tudor, and for eight years as a self-employedconsultant based in Madrid in the areas of internationalizationand M&A.

Hosted by:Camino del Cerro del guila, 3(Ctra. de Castilla, km 5,180)28023 Madrid, Spain

Rue Gachard, 881050 BrusselsTel.: +32 2 629 08 10Fax: +32 2 629 08 11

www.efmd.be

For more information, please visit our website:

www.iese.edu eisb2005

Av. Pearson, 2108034 Barcelona, SpainTel.: (+34) 93 253 4200Fax: (+34) 93 253 4343

www.iese.edu

IESE Business School

IESE Business School is committed to the education anddevelopment of business leaders worldwide and the generationand communication of new ideas with impact on the practice ofthe management profession. Founded in 1958, the school’s firstinitiative was the launch of an Advanced Management Programfor entrepreneurs, when executive education was scarcely knownin Europe. As a European pioneer in business education, IESEcreated Europe s first two-year MBA program in 1964, under theguidance of the Harvard-IESE Advisory Committee. Today, IESEoffers a broad range of programs such as the Executive MBA, theGlobal Executive MBA, Ph.D. in Management and many executiveprograms. The school is known for its commitment to servicewhich enables participants to focus on learning.With world-classcampuses in Barcelona and Madrid, IESE leads programs throughoutthe world. The school has worked in partnership with other leadingschools such as Harvard Business School, Stanford University, MITSloan School of Management or China European InternationalBusiness School in offering executive education.

A leading generator of management ideas, IESE is home to variousresearch centers which focus on fields such as entrepreneurship,finance, globalization, e-business, logistics, sustainable businessand work and family. IESE’s alumni network is one of the world’smost active, with more than 24,000 graduates working in over90 countries.

IESE s mission is to create outstanding learning opportunities forbusiness leaders:Æ To provide them with world-class programs for their personalprofessional development

Æ Where they can share experiences, learn how to develop betterpeople around them and develop frameworks to achieve thelong-term success of their organizations

Æ To develop the knowledge, capabilities and attitudes needed tocontribute through their professional excellence and personalintegrity to the challenges faced by society

Thus, an IESE education offers these advantages:Æ General management perspective to the challenges and

opportunities that companies need to tackle.Æ A global mindset with an understanding of the different cultural,

institutional and social dimensions that play a role around theworld.

Æ Emphasis on the human and ethical values indispensable topersonal growth, corporate sustainability and social responsibility.

Æ Strong research base relevant to the needs of the global businesscommunity and conducted according to the most rigorousacademic standards.

Æ Belief that business leaders can have a profound impact onpeople and society.

www.iese.edu

What’s the EFMD?The European Foundation for Management Development (EFMD)is an international membership organization, based in Brussels,Belgium. With more than 500 member organizations fromacademia, business, public service and consultancy in 65 countries,EFMD provides a unique forum for information, research,networking and debate on innovation and best practice inmanagement development. EFMD s Entrepreneurship, Innovationand Small Business Network (EISB) is engaged in boostingentrepreneurship education across Europe; generating knowledgeand sharing resources with its members. With its 108 institutionalmembers bringing together some 350 individual experts, the EISBnetwork is developing into an ideal observatory to serve as acatalyst and contribute to the development of a vibrantentrepreneurial economy in Europe.

www.efmd.org

General InformationYou can find updated information on paper abstracts, speakers,accommodation and how to get to IESE and information aboutBarcelona, at www.iese.edu/eisb2005

Contact InformationMar a Jos EstapResearch Associate — Entrepreneurship Departmenteisb2005@iese.eduTel.: 34 93 253 42 00Fax: 34 93 253 43 43www.iese.edu/eisb2005

Sponsors