{"title":"New venture teams and acquisition: Team composition matters","authors":"Leila Soleimani, Ryan Stauffer","doi":"10.1080/00472778.2022.2122481","DOIUrl":null,"url":null,"abstract":"<p><b>ABSTRACT</b></p><p>This study examines the relationship between new venture team characteristics on the acquisition likelihood of the new venture. We find that for a US sample of new ventures: new venture teams with equal numbers of females and males, as well as those with higher average education levels are more likely to be acquired. In addition, our results show that higher diversity in industry experience may decrease the acquisition likelihood of new ventures. This implies that teams consisting of both extremes, highly industry experienced and non-experienced members, tend to have the lowest acquisition likelihood all else being equal. This study adds to the rare empirical evidence regarding the factors associated with the exit of new ventures founded by teams, by providing evidence on the effect of team diversity and human capital level on acquisition likelihood. The results may be of interest to both entrepreneurs and external investors.</p>","PeriodicalId":48321,"journal":{"name":"Journal of Small Business Management","volume":"32 30","pages":""},"PeriodicalIF":5.3000,"publicationDate":"2022-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Small Business Management","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1080/00472778.2022.2122481","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0
Abstract
ABSTRACT
This study examines the relationship between new venture team characteristics on the acquisition likelihood of the new venture. We find that for a US sample of new ventures: new venture teams with equal numbers of females and males, as well as those with higher average education levels are more likely to be acquired. In addition, our results show that higher diversity in industry experience may decrease the acquisition likelihood of new ventures. This implies that teams consisting of both extremes, highly industry experienced and non-experienced members, tend to have the lowest acquisition likelihood all else being equal. This study adds to the rare empirical evidence regarding the factors associated with the exit of new ventures founded by teams, by providing evidence on the effect of team diversity and human capital level on acquisition likelihood. The results may be of interest to both entrepreneurs and external investors.
期刊介绍：
The primary purpose of the Journal of Small Business Management (JSBM) is to publish scholarly research articles in the fields of small business management and entrepreneurship. As the official journal of the International Council for Small Business (ICSB), the JSBM is recognized as a primary instrument for projecting and supporting the goals and objectives of this organization, which include scholarly research and the free exchange of ideas. The journal, which is circulated in 60 countries around the world, is a leader in the field of small business research. The following is a list of research topics of interest to JSBM readers: -Family and Founders Owned Enterprises -Women and Minority Owned Enterprises -Small Business Strategy and Organization -Small Business and Entrepreneurial Marketing -Franchising and Small Business -Internationalization and International Entrepreneurship -Entrepreneurial and Small Business Education -New Venture Creation and Venture Capital -Small Business Finance and Accounting -Small Enterprise Governance and Agency -Small Business Technology and Innovation -Small Business Policy, Economics, and Legal Issues -Small Business Operations and E-Commerce -Small Business Assistance and Training Programs -Small Business Leadership and Entrepreneurial Behavior
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