Frontiers of Entrepreneurship Research 1994

Frontiers of Entrepreneurship Research


Abstracts from the 1994 Edition


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    COOPERATIVE STRATEGY AND NEW VENTURE PERFORMANCE: THE ROLE OF MANAGERIAL EXPERIENCE

    Jeffrey E. McGee

    Management Department
    508M CBA
    University of Nebraska at Omaha
    Omaha, Nebraska 68182

    Telephone
    402-554-3156

    Fax Number
    402-554-3747

    Principle Topics
    This study of 105 new high technology manufacturing ventures examined the relationship between the use of various inter-firm (cooperative) activities, the experience possessed by the management teams, and economic performance.

    Method
    Multiple regression techniques were applied to the results of a questionnaire distributed to 450 new technology-int ensive manufacturing ventures. The sample was drawn from the population of firms completing an IPO between 1980 and 1990. The sample was limited to firms in three hi-tech industries: 1) communication equipment, 2) office and computing machines, and 3) electrical machines and electronic & testing instruments.

    Major Implications
    The results of this research provide insight into the use of cooperative arrangements in two areas. First it appear that cooperative arrangements were primarily used to gain access to additional technical capabilities and to gain broader market exposure. Secondly. the results support the idea that the level of experience possessed by a venture's management team is associated with the venture's ability to successfully utilize cooperative or inter-fim arrangements. Specifically, the results indicate that the use of marketing and R&D cooperative arrangements were generally associated with higher average sales growth when the management possessed relatively more experience in those two functional areas. Additionally, the use of marketing and R&D cooperative activities were associated with higher average sales growth when the management team possessed relatively more industry experience.

    Implications
    Relatively more experienced management teams are better able to structure and successfully utilize marketing and R&D cooperative arrangements.


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