The concept of window of entrepreneurship is used in order to explore the relationship between corporate governance and corporate entrepreneurship. Entrepreneurship is a propensity, which can be triggered or terminated through the influence of corporate governance mechanisms. The window of entrepreneurship expresses the temporary character of entrepreneurship, indicating that a firm can open or close the firm for entrepreneurial action. We find indications of the window of entrepreneurship in two riding schools, one governed by a private firm and one governed by an association. The mechanism of the board of directors was found to be conducive for opening the window in the two cases. The mechanism of the product market and the market for managerial labour influenced the closing of the window. Thereby it has been indicated that corporate entrepreneurship is a propensity that can be triggered and terminated.

Equity crowdfunding (ECF) is a new source of early-stage finance where ordinary people are the investors. In this context, investors are called backers, and their behaviours are less well understood. The contribution of this paper is to explore differences between backer investment behaviours. This is important, as it further positions backers when it comes to behaviour of different investor types, but also enables a discussion of attitudes and management of uncertainty from a portfolio theory perspective. The data include 4,938 backer transactions collected from FundedByMe.com during 2012-2016. Most backers invest in single campaign portfolios (single-portfolio backers) and seem less attracted to uncertainty. However, 16% of the crowd invest in multiple campaign portfolios (multi-portfolio backers). They seem more attracted to uncertainty and most of them diversify to manage the portfolio uncertainty. Hence, a minority of the crowd seem to care about uncertainty and manage it in a professional manner.