A comparative study of new venture top management team composition, dynamics and performance between university-based and independent start-ups

The current study tests for differences in top management team (TMT) composition (education, functional expertise, industry experience, and skill), dynamics (shared strategic cognition, potency, cohesion, and conflict) and performance (net cash flow and revenue growth) between a sample of 102 high-t...

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Bibliographic Details
Published in:Research policy 2005-09, Vol.34 (7), p.1091-1105
Main Authors: Ensley, Michael D., Hmieleski, Keith M.
Format: Article
Language:English
Subjects:
Cash flow
Colleges & universities
Comparative analysis
Enterprises
Entrepreneurship
High technology
Institutional theory
Management
Research policy
Science and technology
Small and medium sized enterprises
Startups
Studies
Technology transfer
U.S.A
Universities
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Summary:The current study tests for differences in top management team (TMT) composition (education, functional expertise, industry experience, and skill), dynamics (shared strategic cognition, potency, cohesion, and conflict) and performance (net cash flow and revenue growth) between a sample of 102 high-technology university-based start-ups and an otherwise equivalently matched sample of 154 independent high-technology new ventures. The results find university-based start-ups to be comprised of more homogenous TMTs with less developed dynamics than their independent counterparts. Further, university-based start-ups are found to be significantly lower performing in terms of net cash flow and revenue growth than independent new ventures.
ISSN:0048-7333
1873-7625
DOI:10.1016/j.respol.2005.05.008