The founder's self-assessed competence and venture performance

Modelling Owner Experience: Linking Theory and Practice

“…This sixth factor (innovation) serves to identify further specific experience associated with the sometimes ambiguous dimensions of innovation. As such, the study does not support the hypothesis that owner experience can be delineated as functional, managerial and entrepreneurial, as described previously by Chandler and Jansen, 1992; Newton, 2001;and Lee and Tsang, 2001. These findings also challenge the literature that suggests experience can be defined through functional or traditional management nomenclature (Orser, 1997; Zinger et al, 2001), disciplinary domains that continue to underlie many educational training programs.…”

“…Hitt and Ireland (1985) measured 55 distinctive competencies on a seven-point scale ranging from "greatest strategic significance" to "strategically insignificant." Acar (1993) (Chandler and Jansen, 1992;Edelman, Brush and Manolova, 2001); market decision-making competencies (Cummins, Gilmore and Carson, Undated); export competencies (Julien and Ramangalahy, 2003); technical capability/computer technology competencies (Zinger, LeBrasseur and Zanibbi, 2001); innovative competencies (Lefebvre and Lefebvre, 2000); Euro/SME management competencies (Eyre and Smallman, 1998); and process competencies (Chandler and Jansen;Woolgar et al, 1998;Iles and Yolles, 2002;Hansen, Sondergard and Meredith, 2002;Van Gils and Zwart, 2004).…”

“…Experience is a precursor of competence and is seen to reflect stocks and streams of primarily entrepreneurial, managerial, and functional knowledge encounters (Chandler and Jansen, 1992;Smith and Morse, 2005). Stocks of experience also reflect depth and diversity of knowledge and encounters that may lead to enhanced expertise.…”

“…Au niveau de la variable, l'adoption d'une nouvelle technologie, le développement d'un nouveau produit, les communications en ligne, les promotions et la publicité, ainsi que les habiletés logicielles possèdent le plus fort pouvoir discriminatif entre les propriétaires d'entreprises qui veulent grandir et les autres. Pour finir, on passe en revue les implications pour la recherche à venir.Owner experience is central to firm growth and performance (Boyatzis, 1982;Chandler and Jansen, 1992;Chandler and Hanks, 1994;Leitch, 1995;Freel, 1998 Freel, , 1999Aliouat et al, 1999; Baldwin, 1997;Lefebvre and Lefebvre, 2000;Julien and Ramangalahy, 2003;Van Gils and Zwart, 2004). However, researchers have noted that the literature is fragmented, reflecting little consensus about the definition, construction and appropriate methodologies to examine experience (Reuber and Fischer, 1995;Smith and Morse, 2005).…”

Values and judgment under uncertainty: evidence from venture capitalist assessments of founders

“…These arguments suggest the relationship between a continuous scale of educational attainment and success as a founder may be curvilinear, as represented by an inverted U-shape. At low levels, human capital is positively associated with new venture success, but very high levels of human capital from formal education may impede fl exibility in alternate domains, which can be an important characteristic of founders (e.g., Chandler and Jansen, 1992;Harris and Ogbonna, 1999). Thus, attaining the very highest level of specialized education in one's fi eld may by negatively related to VCs' evaluations of founder quality for these reasons.…”