This study examines the relationship between managerial philosophy and firm performance in a sample of young ventures. We draw from a diverse body of literature linking stewardship theory and the resource based view to submit that management based on trust, reciprocity, and identification (commitment) will enhance firm performance. Utilizing a sample of small high-tech new ventures this study tests the hypothesized relationships between stewardship, human and social capital, sales growth and voluntary turnover. Study findings indicate that a managerial philosophy governed by stewardship is related to higher levels of firm sales-growth, human and social capital and less voluntary turnover. Neither human nor social capital was found to mediate the relationship between partnership and sales growth.
THE STEVENS INSTITUTE OF TECHNOLOGY WESLEY J. HOWE AWARD FOR EXCELLENCE IN RESEARCH ON THE TOPIC OF CORPORATE ENTREPRENEURSHIP
Messersmith, Jake G. and Rutherford, Matthew W.
"MANAGING HUMAN RESOURCES TO ACHIEVE NEW FIRM GROWTH: A STEWARDSHIP PERSPECTIVE,"
Frontiers of Entrepreneurship Research: Vol. 30
, Article 1.
Available at: http://digitalknowledge.babson.edu/fer/vol30/iss17/1