Top management team tenure and technological inventions at post-IPO biotechnology firms

Top management team tenure and technological inventions at post-IPO biotechnology firms

We examine how top management teams (TMTs) facilitate invention performance. We test our hypotheses with a sample of 185 biotech firms that issued initial public offerings (IPOs) between 1980 and 1997. We predict that the percentage of founders on TMT has an inverted U-shaped relationship with inven...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Journal of business research 2012-09, Vol.65 (9), p.1349-1356
Hauptverfasser: Liu, Kun, Li, Jun, Hesterly, William, Cannella, Albert
Format: Artikel
Sprache:eng
Schlagworte:
Biotechnology
Biotechnology industry
Competition
Economic performance
Employment duration
Entrepreneurship
Initial public offering
Initial public offerings
Innovation
Inventions
Organization life cycle
Senior management
Studies
Technological change
Technological invention
TMT
Upper management
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:We examine how top management teams (TMTs) facilitate invention performance. We test our hypotheses with a sample of 185 biotech firms that issued initial public offerings (IPOs) between 1980 and 1997. We predict that the percentage of founders on TMT has an inverted U-shaped relationship with invention performance. Average intrafirm tenure will be negatively associated with invention performance and average TMT member experiences from competitors or outside the industry will be positively associated with invention performance. Finally, contextual factors such as firm size and firm age moderate the impact of TMT experiences on invention performance.
ISSN:0148-2963
1873-7978
DOI:10.1016/j.jbusres.2011.09.024