A matter of salience? The curvilinear effect of experience heterogeneity on firm performance in the US venture capital market

Yi Tang; Bilian Ni Sullivan

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A matter of salience? The curvilinear effect of experience heterogeneity on firm performance in the US venture capital market

机译：一个显着的问题？经验异质性对美国风险投资市场中公司绩效的曲线影响

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Drawing on organisational learning research, this study proposes that in a given context, due to experience salience and organisational resistance to organisational adaption to new information, the impact of experience heterogeneity on firm performance is a U-shaped relationship: firms can benefit from either highly homogeneous or highly heterogeneous experiences but not from the moderate level of experience heterogeneity. Hypotheses are developed and tested using a large sample of US venture capital firms during 1995-2003. The U-shaped curvilinear relationship between experience heterogeneity and firm performance was found true for both a firm's own experiences and the experiences of the firm's network partners. The curvilinear effect of a firm's own experience heterogeneity was moderated by the firm's network status, while the effect of the firm's network partners' experience heterogeneity was moderated by the firm's structural holes in the network.

机译：借助组织学习研究，该研究建议，在给定的背景下，由于经验的显着性和组织对组织对新信息的适应的抵抗，经验异质性对公司绩效的影响呈U型关系：公司可以从任何一种高度受益同质或高度异类的体验，但不是中等程度的体验异质性。假设是在1995年至2003年期间使用大量美国风险投资公司的样本进行开发和测试的。经验异质性与公司绩效之间的U形曲线关系对于公司自身的经验和公司网络合作伙伴的经验都是正确的。公司自身的经验异质性的曲线效应通过公司的网络地位来缓和，而公司的网络伙伴经验异质性的效应则通过公司的网络结构孔来缓和。

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来源
《International Journal of Strategic Change Management》 |2014年第4期|297-320|共24页
作者
Yi Tang; Bilian Ni Sullivan;
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作者单位

Faculty of Business, Department of Management, Hong Kong Polytechnic University, Hung Horn, Kowloon, Hong Kong;

Department of Management,HKUST Business School, Hong Kong University of Science and Technology, Clear Water Bay, Kowloon, Hong Kong;

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正文语种 eng
中图分类
关键词
organisational learning; experience heterogeneity; attention; network status; structural holes; venture capital firms;

机译：组织学习;经历异质性注意;网络状态;结构孔;风险投资公司;

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A matter of salience? The curvilinear effect of experience heterogeneity on firm performance in the US venture capital market

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