On new ventures' board of directors: formation, adjustment, and influences on internationalization
On new ventures' board of directors: formation, adjustment, and influences on internationalization
Files (excerpt)
Published date
2019
Resource type
Publisher
Bangkok : Assumption University
ISBN
ISSN
DOI
Call no.
Other identifier(s)
Edition
Copyrighted date
Language
eng
File type
application/pdf
Extent
22 pages
Other title(s)
Advisor
Other Contributor(s)
Citation
ABAC Journal Vol. 39 No.2 (April-June 2019), 23-44
Degree name
Degree level
Degree discipline
Degree department
Degree grantor
Abstract
To survive and grow, young firms must leverage different means, such as strategic
alliances or founders’ personal networks, to access and acquire necessary external
resources to overcome, or at least mitigate, the liability of newness. In this study, we
found that the board of directors can serve as a means of resource provision for new
ventures. We conducted a historical analysis and case studies on high-tech new
ventures, in order to delve deeply into the processes regarding how boards are formed,
how board members provide these resources, and what factors influence the processes.
Results showed that a board of directors is more likely to be formed when the funds are
raised from institutional investors, rather of individual investors. Moreover, for
founders, formation of the board connotes an exchange of partial ownership for critical
external resources. When more resources are needed, founders adjust their boards.
Adjustments of the board can be categorized into two: “planned board adjustments” are
initiated by the founders to acquire external resources, while “required board
adjustments” are set out by disgruntled board members, and reduced resource
endowments of the firm. In addition, board members exploit their individual assets,
experience, reputation, and personal networks to provide personally endowed resources
to the new venture, and leverage their firms’ assets, reputation, and business networks
to contribute organizationally endowed resources. Board members also facilitate new
ventures’ internationalization.
Table of contents
Description
punsarn.dc.description.sponsorship
Spatial Coverage
Subject(s)
Rights
This work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner.