Listed SMEs and innovation: the role of founding board members

Carmen Barroso-Castro (), Marta Domínguez de la Concha Castañeda () and Mª de los Ángeles Rodríguez Serrano ()
Additional contact information
Carmen Barroso-Castro: Universidad de Sevilla
Marta Domínguez de la Concha Castañeda: Universidad de Sevilla
Mª de los Ángeles Rodríguez Serrano: Universidad de Sevilla

International Entrepreneurship and Management Journal, 2022, vol. 18, issue 2, No 17, 934 pages

Abstract: Abstract Drawing from the resource-based view of the firm, Penrosean theory, and the resource dependence theory, it is argued in this study that the characteristics of directors are key factors for achieving the resources that listed SMEs will require to develop innovation, a scenario that often highlights the necessary replacement of the founding board members. We test our proposed relationships with a sample consisting of all the companies listed on the MAB (Alternative Spanish Stock Market) between 2010 and 2017. Our results offer new insights into the role of the founding board members, highlighting the need for the professionalization of the governance of these SMEs, by appointing independent outside directors and by decreasing the proportion of founding members on the board. Likewise, our results showed that this relationship is moderated by the age of the company.

Keywords: Board of directors; innovation, Entrepreneurial SMEs, Founders; G34; G30; L29 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://link.springer.com/10.1007/s11365-020-00709-3 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:intemj:v:18:y:2022:i:2:d:10.1007_s11365-020-00709-3

Ordering information: This journal article can be ordered from
http://www.springer. ... urship/journal/11365

DOI: 10.1007/s11365-020-00709-3

Access Statistics for this article

International Entrepreneurship and Management Journal is currently edited by Salvador Roig

More articles in International Entrepreneurship and Management Journal from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().