• Less is More, or Not? On the Interplay between Bundles of Slack Resources, Firm Performance and Firm Survival

      Paeleman, Ine; Vanacker, Tom (Journal of Management Studies, 2015)
      Although a significant body of research has investigated the independent effects of distinct types of slack resources, current theoretical and empirical work does not sufficiently clarify how bundles of slack resources affect firm outcomes. Drawing on the resource constraints literature and the slack literature, we investigate how distinct bundles of financial and human resource slack influence firm performance and survival. Using a sample of 4715 European information and communication technology firms, we show that neither parallel resource abundance (having slack in financial and human resources) nor parallel resource constraints (lacking slack in financial and human resources) are optimal for firm performance and survival. However, firms with selective constraints that combine slack in financial resources with constraints in human resources exhibit superior performance without decreased survival prospects. Taken together, this study extends current research by providing a more nuanced view of the relationships between slack resources, firm performance, and firm survival.
    • The relationship between slack resources and the performance of entrepreneurial firms: the role of venture capital and angel investors

      Vanacker, Tom; Collewaert, Veroniek; Paeleman, Ine (Journal of Management Studies, 2013)
      The impact of minority dissent on group-level outcomes is explained in the current literature by two opposing mechanisms: first, through cognitive gains due to a profound change induced by minority members in the individual cognitions of the majority members, and second, through socio-affective process losses due to social rejection and relationship conflict. Groups are most effective in information processing if they succeed in solving this opposition and reduce the negative impact of process losses. The present study addresses this opposition using an experimental design in which we crossed minority dissent (presence vs. absence of minority dissent) with change in membership (groups with vs. groups without change in membership) to determine which condition leads to the highest group cognitive complexity. Our results show that groups with a history of dissent and where the deviant left the group have the highest cognitive complexity, followed by groups that experienced dissent and where no change in group membership took place. The groups without a history of dissent have the lowest cognitive complexity.
    • The role of domestic and cross-border venture capital investors in the growth of portfolio companies

      Devigne, David; Vanacker, Tom; Manigart, Sophie; Paeleman, Ine (Small Business Economics, 2013)