We investigate the extent to which complementarities between technical and business skills of founders and employees matter for the generation of market novelties by new ventures. Using data about German start-ups, we find that there are no complementarities between technical and business skills...

This paper examines the question of whether the initial stock of resources of new ventures that enter an industry differs based on the whether they enter before or after a technological discontinuity occurs. We draw on the theoretical foundations of the resource-based view of the firm, and those...

We compare investment in innovation (e.g., R&D) between new venture start-ups before commercialization and operating businesses after commercialization. Operating businesses use R&D to improve actual earnings while start-ups use R&D to improve prospective earnings. When a start-up entrepreneur...

High neonatal mortality is one of the most salient 'facts' about firm performance in the industrial organisation literature. We model firm survival and examine the relative influence of firm, industry and macroeconomic factors on survival for new vis-à-vis incumbent firms in Australia. In...

Venture capitalists that specialize in providing funds to privately held firms generate their greatest returns from firms that go public. However, we argue that the technology regime of an industry affects the extent of knowledge asymmetries between different types of owners and subsequently the...

We analyze the implications of entrepreneurial spawning for a variety of firm characteristics such as size, focus, profitability, and innovativeness. We examine the dynamics of spawning over time. Our model accounts for much of the empirical evidence relating to the relation between spawning and...

Young technology ventures are strongly affected by technological environmental conditions. In the light of opportunity theory, this study focuses on the interaction of a young firm's technological base and the pace of technological development in its field. It distinguishes three technological...

We analyze the implications of the decision to spawn or to retain a new product for the nature and evolution of the firm. In our model, a new product is spawned if the fit between the product and its parent firm organization is not adequate. We focus on the impact of the firm's history of...