As entrepreneurship research has matured, scholars have increasingly recognized that the formation of new ventures is commonly accomplished by teams as opposed to lone entrepreneurs. Over the past two decades, the upper echelons perspective has served as the primary lens for investigating new venture team functioning and performance. However, researchers have begun to move beyond the relationsh…
A central tenet of resource-based logic is that undervalued resources utilized by firms organized to exploit them will produce superior economic performance over the long run. Yet when young technology-based ventures pursuing new opportunities do not possess full property over these resources, input providers retain the right to bid up factor prices to match each resource's marginal productivit…
We contribute to multiple agency theory by examining cases in which ventures making initial public offerings (IPOs) have managerial agents on their boards whose goals conflict with those of the investment bank agents hired to underwrite the stock. Underwriters have an incentive to underprice IPOs to maintain strong ties with institutional investors. We develop theory on agent differences based …
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