Management team change in venture capital-backed firms

Ekaterina Bjørnåli, Truls Erikson

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In this paper we elaborate on several theoretical explanations that underlie past empirical work on top management teams (TMT) and explore the factors driving TMT changes in new venture-capital backed firms. We found demographic and functional team heterogeneity, CEO tenure and prior start-up experience, and the presence of dismissal covenant to be positively related to the TMT change. We also examined and did not find support for team size and team conflict’s relation to TMT change. We attempt to integrate our empirical results with well established TMT literature and suggest future research directions that may be helpful to researchers seeking to further explore these issues.
Original languageEnglish
Title of host publicationProceedings of the 16th Annual High Technology Small Firms Conference 2008
Place of PublicationEnschede
PublisherUniversity of Twente
Number of pages15
ISBN (Print)9789036526685
Publication statusPublished - 2008
Externally publishedYes
Event16th Annual High Technology Small Firms Conference, HTSF 2008 - Enschede, Netherlands
Duration: 21 May 200823 May 2008
Conference number: 16


Conference16th Annual High Technology Small Firms Conference, HTSF 2008
Abbreviated titleHTSF


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