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How do new ventures grow? Firm capabilities, growth strategies and performance
Xiaoyun Chen1; Huan Zou2; Danny T. Wang3
2009
Source PublicationInternational Journal of Research in Marketing
ABS Journal Level4
ISSN0167-8116
Volume26Issue:4Pages:294-303
Abstract

While 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.

KeywordChina Firm Capabilities Growth Strategies New Ventures
DOIhttps://doi.org/10.1016/j.ijresmar.2009.08.004
URLView the original
Indexed BySSCI
Language英语
WOS Research AreaBusiness ; Economics
WOS SubjectBusiness
WOS IDWOS:000271884500007
Fulltext Access
Citation statistics
Cited Times [WOS]:43   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionFaculty of Business Administration
DEPARTMENT OF MANAGEMENT AND MARKETING
Corresponding AuthorXiaoyun Chen
Affiliation1.Faculty of Business Administration, University of Macau, Avenida Padre Tomás Pereira, Taipa, Macau, China
2.Business School, Loughborough University, Leicestershire LE11 3TU, United Kingdom
3.School of Business, The University of Hong Kong, Pokfulam Road, Hong Kong, China
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Xiaoyun Chen,Huan Zou,Danny T. Wang. How do new ventures grow? Firm capabilities, growth strategies and performance[J]. International Journal of Research in Marketing,2009,26(4):294-303.
APA Xiaoyun Chen,Huan Zou,&Danny T. Wang.(2009).How do new ventures grow? Firm capabilities, growth strategies and performance.International Journal of Research in Marketing,26(4),294-303.
MLA Xiaoyun Chen,et al."How do new ventures grow? Firm capabilities, growth strategies and performance".International Journal of Research in Marketing 26.4(2009):294-303.
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