Abstract

Contrary to large companies, the entrepreneurial firm boards do not operate separately and distantly from the top management team (TMT). Recent studies emphasize the crucial role of the board in early stage high-tech firms and its contribution to the firm’s survival and growth, yet such research is still limited. We address the gap by exploring how the board functions in order to enable the firm’s development and growth. We do so by investigating in-depth what constitutes an effective board in a high-tech start-up, namely, (1) who the board members are, (2) what roles they perform, and (3) how these roles are performed. Our conceptual framework draws upon the resource dependence and upper echelon theories.

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