Abstract

We take a “liability of newness” perspective (Stinchcombe, 1965) to explore the effects of external threats and internal deficiencies on entrepreneurial ventures’ growth in emerging economies. Our baseline expectations are that both (H1a) External challenges and (H1b) Internal challenges will be negatively associated with new venture growth. However, we argue that their relative importance will change along entrepreneurial ventures’ early histories, such that: (H2a) The association between external challenges and new venture growth will be stronger earlier in the life of the new venture, while (H2b) The association between internal challenges and new venture growth will be stronger later in the life of the new venture.

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