Founder Replacement and Startup Performance

Ewens, Michael; Marx, Matt

doi:10.1093/rfs/hhx130

Cited by 131 publications

(58 citation statements)

References 28 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Interestingly, while those firms that replaced the founder CEO were more likely to fail, those that survived grew at a faster rate (Chen & Thompson, 2015) and had a more positive investor reaction at IPO (Nelson, 2003) than those firms who kept the founder CEO. Indeed, recent empirical research indicates that venture performance typically increases when investors replace founders with professional managers (Ewens & Marx, 2017;Wasserman, 2017).…”

Section: Founder Exitmentioning

confidence: 99%

Creating New Ventures: A Review and Research Agenda

Shepherd

Souitaris

Gruber

2020

Journal of Management

110

112

View full text Add to dashboard Cite

Creating new ventures is one of the most central topics to entrepreneurship and is a critical step from which many theories of management, organizational behavior, and strategic management build. Therefore, this review and proposed research agenda are relevant to not only entrepreneurship scholars but also other management scholars who wish to challenge some of the implicit assumptions of their current streams of research and extend the boundaries of their current theories to earlier in the organization’s life. Given that the last systematic review of the topic was published 16 years ago, and that the topic has evolved rapidly over this time, an overview and research outlook are long overdue. From our review, we inductively generated 10 subtopics: (a) lead founder, (b) founding team, (c) social relationships, (d) cognitions, (e) emergent organizing, (f) new-venture strategy, (g) organizational emergence, (h) new-venture legitimacy, (i) founder exit, and (j) entrepreneurial environment. These subtopics are then organized into three major stages of the entrepreneurial process: co-creating, organizing, and performing. Together, the framework provides a cohesive story of the past and a road map for future research on creating new ventures, focusing on the links connecting these subtopics.

show abstract

Section: Founder Exitmentioning

confidence: 99%

Creating New Ventures: A Review and Research Agenda

Shepherd

Souitaris

Gruber

2020

Journal of Management

110

112

View full text Add to dashboard Cite

show abstract

“…Although there has been research on why founders are forced to exit when their ventures are performing well (Ewens & Marx, 2017;Wasserman, 2003) and performing poorly (Laitinen, 1992;Wiklund, Baker, & Shepherd, 2010) as well as why founders choose to exit their ventures to avoid further losses (DeTienne, Shepherd, & De Castro, 2008;Gimeno et al, 1997;Thorburn, 2000), there has been less research on why founders might decide to leave their successful ventures (DeTienne & Wennberg, 2016). This insufficient scholarly attention on founders' exits from high-potential ventures is surprising.…”

Section: Introductionmentioning

confidence: 99%

“…Through our theorizing and findings, we make four primary contributions to the literature on entrepreneurial exits. First, prior research on founder exit has focused on the reasons why "others" decide to replace founders from their highly (Ewens & Marx, 2017;Wasserman, 2003) and poorly (Boeker & Wiltbank, 2005;Laitinen, 1992;Wiklund, Baker, & Shepherd, 2010) performing ventures and how founders "close down" their ventures to avoid bankruptcy (DeTienne et al, 2008;Gimeno et al, 1997;Shepherd, Wiklund, & Haynie, 2009).…”

Section: Introductionmentioning

confidence: 99%

Should I Stay or Should I Go? Founder Power and Exit via Initial Public Offering

Souitaris

Zerbinati

Peng

et al. 2020

AMJ

View full text Add to dashboard Cite

show abstract

“…There is also a growing body of evidence that founding teams play an important role in firm success. 4 Venture capital and private equity studies have explored the relative importance of founders and founding teams (Kaplan, Sensoy, and Strömberg, 2009;Ewens and Marx, 2017). We build upon these studies by establishing new facts about the relationship between founding team human capital and firm performance with a sample that covers the majority of new businesses in the U.S.-moving well beyond the samples of venture backed startups typical of the literature.…”

mentioning

confidence: 99%

Founding Teams and Startup Performance

et al. 2019

View full text Add to dashboard Cite

The research program of the Center for Economic Studies (CES) produces a wide range of economic analyses to improve the statistical programs of the U.S. Census Bureau. Many of these analyses take the form of CES research papers. The papers have not undergone the review accorded Census Bureau publications and no endorsement should be inferred. Any opinions and conclusions expressed herein are those of the author(s) and do not necessarily represent the views of the U.S. Census Bureau. All results have been reviewed to ensure that no confidential information is disclosed. Republication in whole or part must be cleared with the authors. To obtain information about the series, see www.census.gov/ces or contact

show abstract

Founder Replacement and Startup Performance

Cited by 131 publications

References 28 publications

Creating New Ventures: A Review and Research Agenda

Creating New Ventures: A Review and Research Agenda

Should I Stay or Should I Go? Founder Power and Exit via Initial Public Offering

Founding Teams and Startup Performance

Contact Info

Product

Resources

About