Improving new venture performance: The role of strategy, industry structure, and the entrepreneur

Sandberg, William C.; Hofer, Charles W.

doi:10.1016/0883-9026(87)90016-4

Cited by 592 publications

(388 citation statements)

References 4 publications

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“…Indeed, empirical research has found that venture capitalists prefer to invest in new ventures in high growth industries (MacMillan, Siegel, and Narasimha, 1985;Sandberg and Hofer, 1987). Thus, from the resource-based perspective, HTNVs are more likely to obtain resources from high growth industries than from low growth industries (Hannan and Freeman, 1977).…”

Section: Moderating Role Of Institutional Supportmentioning

confidence: 99%

The adoption of agency business activity, product innovation, and performance in Chinese technology ventures

Atuahene‐Gima

2002

Strategic Management Journal

219

150

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Section: Moderating Role Of Institutional Supportmentioning

confidence: 99%

The adoption of agency business activity, product innovation, and performance in Chinese technology ventures

Atuahene‐Gima

2002

Strategic Management Journal

219

150

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“…Survival versus discontinuance has often been used, particularly in population ecology studies. Other authors concentrate instead on either multimodal (Sandberg and Hofer 1987) or continuous ranking of success (e.g. Cooper et al 1994).…”

Section: Founders' Human Capital and Ntbf Survival: Evidence From Prementioning

confidence: 99%

“To have and have not”: founders’ human capital and university start-up survival

et al. 2013

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This is an accepted version of a paper published in Journal of Technology Transfer. This paper has been peer-reviewed but does not include the final publisher proof-corrections or journal pagination.Citation for the published paper: Criaco, G., Minola, T., Migliorini, P., Serarols-Tarrés, C. AbstractIn order to preserve innovation, knowledge development and diffusion, as well as the transfer of new technologies, the emergence of University Start-Ups (USU) and their survival as a particular dimension of performance represents a relevant research topic. As USU generally have scarce initial resources, the human capital of their founders is one of their main business assets. Although the survival of such firms is supposed to be heavily dependent on the human capital characteristics of their founders, this has not received enough attention in existing research. In this paper we investigate the contribution of founders' specific human capital characteristics to the survival of USU, building on Gimeno et al. (Adm Sci Q 42:750-783, 1997) threshold model of entrepreneurial exit. We divide USU founders' specific human capital into three components (entrepreneurship, industry and university) in order to better understand its impact on firm survival. Our theoretical model is empirically tested on a unique sample of Catalan USU through a logistic regression analysis.Coherently with our theoretical reasoning, the results show that industry human capital negatively affect USU survival, while university human capital and entrepreneurship human capital enhance the likelihood of USU survival.

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“…Researchers have stated that opportunities are more abundant when market demand is growing rapidly (Hofer, 1975;Yip, 1982;Hambrick and Lei, 1987), and industry competition is relatively unconcentrated (Buzzell and Gale, 1987;Biggadike, 1979;Sandberg, 1986). We controlled for the average growth rate of market that the focal firm participated in during 1997 and the number of competing firms in 1997, since they can indicate environmental munificence (Chandler and Hanks, 1994;Schoonhoven et al 1990).…”

Section: Control Variablesmentioning

confidence: 99%

Internal capabilities, external networks, and performance: a study on technology‐based ventures

Choonwoo

Lee

Pennings

2001

Strategic Management Journal

1,524

1,110

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This study examined the influence of internal capabilities and external networks on firm performance by using data from 137 Korean technological start-up companies. Internal capabilities were operationalized by entrepreneurial orientation, technological capabilities, and financial resources invested during the development period. External networks were captured by partnership-and sponsorship-based linkages. Partnership-based linkages were measured by strategic alliances with other enterprises and venture capitalists, collaboration with universities or research institutes, and participation in venture associations. Sponsorshipbased linkages consisted of financial and nonfinancial support from commercial banks and the Korean government. Sales growth indicated the start-up's performance. Regression results showed that the three indicators of internal capabilities are important predictors of a start-up's performance. Among external networks, only the linkages to venture capital companies predicted the start-up's performance. Several interaction terms between internal capabilities and partnership-based linkages have a statistically significant influence on performance. Sponsorship-based linkages do not have individual effects on performance but linkage with financial institutions has a multiplicative effect with technological capabilities and financial resources invested on a start-up's performance. Implications and directions for future research were discussed. ABSTRACTThis study examined the influence of internal capabilities and organizational linkages to external entities on firm performance by using data from 143 Korean business ventures.

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Improving new venture performance: The role of strategy, industry structure, and the entrepreneur

Cited by 592 publications

References 4 publications

The adoption of agency business activity, product innovation, and performance in Chinese technology ventures

The adoption of agency business activity, product innovation, and performance in Chinese technology ventures

“To have and have not”: founders’ human capital and university start-up survival

Internal capabilities, external networks, and performance: a study on technology‐based ventures

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