haku: @author Shane, S. / yhteensä: 27
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| Tekijä: | Shane, S. Stuart, T. |
| Otsikko: | Organizational endowments and the performance of university start-ups |
| Lehti: | Management Science
2002 : JAN, VOL. 48:1, p. 154-170 |
| Asiasana: | Venture capital Financing Companies Entrepreneurship USA |
| Vapaa asiasana: | Start-ups |
| Kieli: | eng |
| Tiivistelmä: | The question of how initial resource endowments, that is, the stocks of resources that entrepreneurs contribute to new business ventures at the time of founding, affect organizational life chances is one of significant interest in organizational ecology, evolutionary theory, and entrepreneurship research. Using data on the life histories of all 134 firms founded to exploit MIT-assigned inventions during the 1980-1996 period, the study analyzes how resource endowments affect the likelihood of three critical outcomes: 1. that new ventures attract venture capital financing, 2. experience initial public offerings, and 3. fail. The analysis focuses on the role of founders' social capital. Event history analyses show that new ventures with founders having direct and indirect relationships with venture investors are most likely to receive venture funding and are less likely to fail. In turn, receiving venture funding is the single most important determinant of the likelihood of IPO. |
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