Venture survival after environmental jolts

Sooduck Chang, Donna Kelley and Hyunsuk Lee

International Journal of Entrepreneurship and Innovation Management, 2009, vol. 9, issue 3, 343-359

Abstract: This research examines founder skills and efforts to overcome liabilities of newness and smallness in buffering a venture against environmental jolts. We surveyed 115 Korean technology-based ventures in 1997, just before the Asian IMF crisis, and then tracked their survival or failure in 2000. Our analysis reveals that a founder's education and experience in the venture's industry is associated with survival after a jolt. Organizational Commitment to Employees (OCE) and external relationships were also associated with survival in our study, suggesting that building the internal organisation and forming external relationships can help a venture overcome the effects of major environmental shocks.

Keywords: new firm survival; environmental jolts; newness; smallness; founder characteristics; OCE; organisational commitment; commitment to employees; external relationships; Korea; new ventures; technology-based firms; education; experience; internal organisation. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijeima:v:9:y:2009:i:3:p:343-359

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