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Article: How do new ventures grow? Firm capabilities, growth strategies and performance

TitleHow do new ventures grow? Firm capabilities, growth strategies and performance
Authors
KeywordsNew ventures
Firm capabilities
Growth strategies
China
Issue Date2009
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijresmar
Citation
International Journal of Research in Marketing, 2009, v. 26 n. 4, p. 294-303 How to Cite?
AbstractWhile new venture growth performance has been studied extensively, little work has been done to examine the complex strategic choices through which growth is pursued and attained. Building on the resource-based view and social capital perspective, this study develops a conceptual framework that links combinations of ventures' (1) technological, (2) financial, and (3) networking capabilities to different growth strategies in terms of organic growth, partnership, and acquisition. We further assess the mechanisms through which a new venture's growth choices affect firm performance. Using data from 238 new high-tech ventures in China, we find that new ventures with different resource combinations follow different growth strategies. While partnership growth leads to greater product diversity, and acquisition is more effective in realizing firm internationalization, both lead to a better chance of survival of new ventures. In addition, the study explicates the role of technological capability in moderating the relationship between growth strategies and new venture performance.
Persistent Identifierhttp://hdl.handle.net/10722/85788
ISSN
2015 Impact Factor: 1.833
2015 SCImago Journal Rankings: 3.004

 

DC FieldValueLanguage
dc.contributor.authorChen, Xen_HK
dc.contributor.authorZou, Hen_HK
dc.contributor.authorWang, Ten_HK
dc.date.accessioned2010-09-06T09:09:15Z-
dc.date.available2010-09-06T09:09:15Z-
dc.date.issued2009en_HK
dc.identifier.citationInternational Journal of Research in Marketing, 2009, v. 26 n. 4, p. 294-303en_HK
dc.identifier.issn0167-8116en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85788-
dc.description.abstractWhile new venture growth performance has been studied extensively, little work has been done to examine the complex strategic choices through which growth is pursued and attained. Building on the resource-based view and social capital perspective, this study develops a conceptual framework that links combinations of ventures' (1) technological, (2) financial, and (3) networking capabilities to different growth strategies in terms of organic growth, partnership, and acquisition. We further assess the mechanisms through which a new venture's growth choices affect firm performance. Using data from 238 new high-tech ventures in China, we find that new ventures with different resource combinations follow different growth strategies. While partnership growth leads to greater product diversity, and acquisition is more effective in realizing firm internationalization, both lead to a better chance of survival of new ventures. In addition, the study explicates the role of technological capability in moderating the relationship between growth strategies and new venture performance.-
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ijresmaren_HK
dc.relation.ispartofInternational Journal of Research in Marketingen_HK
dc.rightsInternational Journal of Research in Marketing. Copyright © Elsevier BV.en_HK
dc.subjectNew ventures-
dc.subjectFirm capabilities-
dc.subjectGrowth strategies-
dc.subjectChina-
dc.titleHow do new ventures grow? Firm capabilities, growth strategies and performanceen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0167-8116&volume=26 &issue=4&spage=294&epage=303&date=2009&atitle=How+New+Ventures+Grow?+Firm+Capabilities,+Growth+Strategies+and+Performanceen_HK
dc.identifier.emailWang, T: dtwang@hkucc.hku.hken_HK
dc.identifier.authorityWang, T=rp01106en_HK
dc.identifier.hkuros157191en_HK

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