New Venture Evolution and Managerial Capabilities

Posted: 24 Nov 2009

See all articles by Warren Boeker

Warren Boeker

University of Washington - Center for Innovation and Entrepreneurship

Robert Wiltbank

Willamette University - Atkinson Graduate School of Management

Date Written: 2005

Abstract

Factors that result in managerial changes in new firms are discussed, and compared with what is known about large firm succession.More specifically, the effects of firm growth, strategic change, various levels of ownership, board independence, and current top management characteristics on leadership change are studied. Data consisted of 86 semiconductor firms founded between 1983 and 1995 in Silicon Valley and were obtained from public market sources and three market research firms. Findings reveal that either low or very high growth of firms is conducive to changes in top management. Functional diversity in top management teams reduces the amount of personnel change. Lastly, when the locus of control and power is internal, there is a decreased change in top management, as opposed to an increased change when venture capital ownership and board representation are present. (SRY)

Keywords: Experimental/primary research, Semiconductor industry, Firm performance, Leadership, Firm ownership, Startups, Silicon Valley, Management teams, Executives, Boards of directors, Firm growth, Organizational change, Organizational development, Firm governance

Suggested Citation

Boeker, Warren and Wiltbank, Robert, New Venture Evolution and Managerial Capabilities (2005). University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship, Available at SSRN: https://ssrn.com/abstract=1509204

Warren Boeker (Contact Author)

University of Washington - Center for Innovation and Entrepreneurship ( email )

Seattle, WA
United States

Robert Wiltbank

Willamette University - Atkinson Graduate School of Management ( email )

900 State Street
Salem, OR 97301
United States
503 370 6955 (Phone)
503 370 3011 (Fax)

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