Abstract

Entrepreneurial founding endeavors are commonly characterized by high uncertainty and limited resources as well as individuals who are often new to their role and new to each other (Eisenhardt, 2013). Stinchcombe (1965) termed the challenges associated with the founding context as “liability of newness”, making it highly demanding for new ventures to survive their early days. In the founding context it is not surprising that forming and maintaining an effective team within new firms is not always successful and can ultimately lead to a turnover event (i.e., entry and exit of team members) within the entrepreneurial founding team (EFT) (Kamm, Shuman, Seeger, & Nurick, 1990). Since the entrepreneurial founding team is central for the new venture’s success (Eisenhardt, 2013), the question remains how team members’ entries and exits impact new venture growth.

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