"The authors synthesize the existing interdisciplinary quantitative evidence on organizational design and provide a new empirical framework to extend our understanding of the determinants of organizational design, its evolution and a firm's performance."--Jacket
This book offers a distinctive analysis of the relations and interplay between the internal activities of firms, their changing boundaries, and increasing reliance on networks and alliances with other firms.The contributors offer a blend of theoretical and empirical studies; they are based on a set of related perspectives in modern economics, including transaction cost economics, competence and resource-based theories of the firm, evolutionary economics and the theories of foreign direct investments and the multinational enterprise. The unifying concern shared by the different studies is the n
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Founders' human capital and venture capital (VC) are two fundamental ingredients for new venture success in high‐tech sectors. We jointly investigate their influence on the growth performance of a large sample of Italian high‐tech start‐ups and find:
the importance of both components;
some characteristics of founders' human capital also exert an indirect rather than a direct effect on growth by attracting VC;
the 'coach' function performed by Italian venture capitalists on invested companies is important;
a substitution rather than a complementary relationship exists between these two drivers of firm growth.
This timely book brings together cutting-edge research on the important subject of science and innovation policies. The contributors--distinguished social science scholars--tackle the key challenges of designing and implementing public policies in the context of the new knowledge economy
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AbstractWe study the delegation of authority over strategic decisions in startups and how it relates to venture capital (VC) investment through a mixed-methods study. We first show that startups typically centralize decision authority. The extent of delegation is higher if startups are VC-backed. In startups backed by corporate VC investors the aim is to leverage the unique knowledge possessed by entrepreneurial team members in a context characterized by low principal-principal agency costs. In those backed by independent VC investors, the increase in delegation is paired with the emergence of a polyarchy and decoupling between the formal and real organizations. In this situation delegation may serve as a control mechanism aligning the actions of startups with the interests of the VC investors.