While recent inventories and assessments of the entrepreneurship field examine the focus, purpose, and methods, one area receiving less attention is the outcome or dependent variable. The outcome variable is of critical importance in scholarship, as it is a leading indicator of the cumulative nature of the scholarship in our field. This paper reviews 389 articles published over the past 3 years in four top entrepreneurship journals; two published in the United States and two published in Europe. It classifies the scholarship by theoretical underpinnings, independent variables, dependent variables, and then looks at the variation in these by origin of the journal. Results indicate that entrepreneurship researchers are using a wide variety of dependent variables, that the most popular unit of analysis is the firm, and that performance, broadly defined, is the most popular dependent variable. Implications for future research are discussed.