Abstract

A growing number of new ventures are founded by entrepreneurial teams (ET), which are more highly represented in high tech, high growth and high value enterprises, such as international new ventures that are associated with comparatively rapid pace of gestation activities (Davidsson & Honig, 2003). An important stage in new venture formation involves the recruitment and retention of team members. ET turnover, which involves members joining or leaving, could unsettle the team, but for different reasons. Boeker and Wiltbank (2005) found that turnover of top management in new ventures decreased with managerial ownership. Adding of founders in top management teams has produced conflicting positive and negative effects on. But top management team research cannot be assumed to apply to ETs, which often differ in terms of their context, formation motives, turnover, liability distribution and efficiency. And not all ET are the same. Spousal Entrepreneurial Teams (SET) have distinctive demographic characteristics and dynamics. Joining and leaving SETs will likely have different antecedents and effects compared to other entrepreneurial teams (OET). Therefore, SET must be distinguished from OET when discussing ET diversity and turnover. Financial performance of the firm could also an impact members joining or leaving the team. We ask why members join and leave entrepreneurial teams and how SET and OET differ.

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