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The roles of innovation strategy and founding team diversity in new venture growth

Shuangfa Huang, Martina Battisti, David Pickernell Orcid Logo

Journal of Business Research, Volume: 158, Start page: 113653

Swansea University Author: David Pickernell Orcid Logo

  • Accepted Manuscript under embargo until: 11th July 2024

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DOI (Published version): 10.1016/j.jbusres.2023.113653

Abstract

Using fsQCA, this study explores how a venture’s strategy, as well as founding team knowledge diversity and demographic diversity interact to explain revenue growth of new ventures. Based on a longitudinal dataset containing 210 new ventures, we find that the effects of team diversity are complex su...

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Published in: Journal of Business Research
ISSN: 0148-2963
Published: Elsevier BV 2023
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URI: https://cronfa.swan.ac.uk/Record/cronfa62268
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first_indexed 2023-01-05T15:31:40Z
last_indexed 2023-02-02T04:16:49Z
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spelling v2 62268 2023-01-05 The roles of innovation strategy and founding team diversity in new venture growth 913bd73da00d7df4f5038f6f144b235e 0000-0003-0912-095X David Pickernell David Pickernell true false 2023-01-05 BBU Using fsQCA, this study explores how a venture’s strategy, as well as founding team knowledge diversity and demographic diversity interact to explain revenue growth of new ventures. Based on a longitudinal dataset containing 210 new ventures, we find that the effects of team diversity are complex such that different diversity conditions explain short-term (i.e. one year) compared to sustained growth (i.e. over three years) and that their role is contingent on the venture’s strategy. We identify three recipes that explain revenue growth in the short-term and four recipes that explain revenue growth in the longer-term. One recipe is the same for both time periods pointing towards the potential role of imprinting of certain team diversity conditions in combination with an innovation strategy. Our findings provide a nuanced and in-depth picture of the relative relevance of an innovation strategy, knowledge diversity, and demographic diversity at distinct stages of venture founding. Journal Article Journal of Business Research 158 113653 Elsevier BV 0148-2963 start-up, team diversity, innovation, imprinting, fsQCA 1 3 2023 2023-03-01 10.1016/j.jbusres.2023.113653 COLLEGE NANME Business COLLEGE CODE BBU Swansea University This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors. 2023-12-22T08:07:08.5752996 2023-01-05T15:11:11.1121585 Faculty of Humanities and Social Sciences School of Management - Business Management Shuangfa Huang 1 Martina Battisti 2 David Pickernell 0000-0003-0912-095X 3 Under embargo Under embargo 2023-02-01T16:12:04.8238038 Output 417006 application/pdf Accepted Manuscript true 2024-07-11T00:00:00.0000000 ©2023 All rights reserved. All article content, except where otherwise noted, is licensed under a Creative Commons Attribution Non-Commercial No Derivatives License (CC-BY-NC-ND) true eng https://creativecommons.org/licenses/by-nc-nd/4.0/ 156 Shuangfa Huang shuangfa.huang@sheffield.ac.uk true https://www.galidata.org/ false
title The roles of innovation strategy and founding team diversity in new venture growth
spellingShingle The roles of innovation strategy and founding team diversity in new venture growth
David Pickernell
title_short The roles of innovation strategy and founding team diversity in new venture growth
title_full The roles of innovation strategy and founding team diversity in new venture growth
title_fullStr The roles of innovation strategy and founding team diversity in new venture growth
title_full_unstemmed The roles of innovation strategy and founding team diversity in new venture growth
title_sort The roles of innovation strategy and founding team diversity in new venture growth
author_id_str_mv 913bd73da00d7df4f5038f6f144b235e
author_id_fullname_str_mv 913bd73da00d7df4f5038f6f144b235e_***_David Pickernell
author David Pickernell
author2 Shuangfa Huang
Martina Battisti
David Pickernell
format Journal article
container_title Journal of Business Research
container_volume 158
container_start_page 113653
publishDate 2023
institution Swansea University
issn 0148-2963
doi_str_mv 10.1016/j.jbusres.2023.113653
publisher Elsevier BV
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
document_store_str 0
active_str 0
description Using fsQCA, this study explores how a venture’s strategy, as well as founding team knowledge diversity and demographic diversity interact to explain revenue growth of new ventures. Based on a longitudinal dataset containing 210 new ventures, we find that the effects of team diversity are complex such that different diversity conditions explain short-term (i.e. one year) compared to sustained growth (i.e. over three years) and that their role is contingent on the venture’s strategy. We identify three recipes that explain revenue growth in the short-term and four recipes that explain revenue growth in the longer-term. One recipe is the same for both time periods pointing towards the potential role of imprinting of certain team diversity conditions in combination with an innovation strategy. Our findings provide a nuanced and in-depth picture of the relative relevance of an innovation strategy, knowledge diversity, and demographic diversity at distinct stages of venture founding.
published_date 2023-03-01T08:07:09Z
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score 11.012678

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