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dc.contributor.authorSong, Michael
dc.contributor.authorPodoynitsyna, Ksenia
dc.contributor.authorVan Der Bij, Hans
dc.contributor.authorHalman, Johannes
dc.date.accessioned2024-01-18T13:12:22Z
dc.date.available2024-01-18T13:12:22Z
dc.date.issued2008en_US
dc.identifier.issn0737-6782
dc.identifier.doi10.1111/j.1540-5885.2007.00280.x
dc.identifier.urihttp://hdl.handle.net/20.500.12127/7379
dc.description.abstractTechnology entrepreneurship is key to economic development. New technology ventures (NTVs) can have positive effects on employment and could rejuvenate industries with disruptive technologies. However, NTVs have a limited survival rate. In our most recent empirical study of 11,259 NTVs established between 1991 and 2000 in the United States, we found that after four years only 36 percent, or 4,062, of companies with more than five full-time employees, had survived. After five years, the survival rate fell to 21.9 percent, leaving only 2,471 firms still in operation with more than five full-time employees. Thus, it is important to examine how new technology ventures can better survive. In the academic literature, a number of studies focus on success factors for NTVs. Unfortunately, empirical results are often controversial and fragmented. To get a more integrated picture of what factors lead to the success or failure of new technology ventures, we conducted a meta-analysis to examine the success factors in NTVs. We culled the academic literature to collect data from existing empirical studies. Using Pearson correlations as effect size statistics, we conducted a meta-analysis to analyze the findings of 31 studies and identified the 24 most widely researched success factors for NTVs. After correcting for artifacts and sample size effects, we found that among the 24 possible success factors identified in the literature, 8 are homogeneous significant success factors for NTVs (i.e., they are homogeneous positive significant metafactors that are correlated to venture performance): (1) supply chain integration; (2) market scope; (3) firm age; (4) size of founding team; (5) financial resources; (6) founders' marketing experience; (7) founders' industry experience; and (8) existence of patent protection. Of the original 24 success factors, 5 were not significant: (1) founders' research and development (R&D) experience; (2) founders' experience with start-ups; (3) environmental dynamism; (4) environmental heterogeneity; and (5) competition intensity. The remaining 11 success factors are heterogeneous. For those heterogeneous success factors, we conducted a moderator analysis. Of this set, three appeared to be success factors, and two were failure factors for subgroups within the NTVs' population. To facilitate the development of a body of knowledge in technology entrepreneurship, this study also identifies high-quality measurement scales for future research. The article concludes with future research directions.en_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.subjectTechnology Entrepreneurshipen_US
dc.titleSuccess factors in new ventures: A meta-analysisen_US
dc.identifier.journalJournal of Product Innovation Managementen_US
dc.source.volume25en_US
dc.source.issue1en_US
dc.source.beginpage7en_US
dc.source.endpage27en_US
dc.contributor.departmentUniversity of Missouri–Kansas Cityen_US
dc.contributor.departmentEindhoven University of Technology in the Netherlandsen_US
dc.contributor.departmentUniversity of Twente in the Department of Construction Management and Engineeringen_US
dc.identifier.eissn1540-5885
vlerick.knowledgedomainOperations & Supply Chain Managementen_US
vlerick.typearticleVlerick strategic journal articleen_US
vlerick.vlerickdepartmentTOMen_US
dc.identifier.vperid313686en_US


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