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Venture survival after environmental jolts

Author

Listed:
  • Sooduck Chang
  • Donna Kelley
  • Hyunsuk Lee

Abstract

This research examines founder skills and efforts to overcome liabilities of newness and smallness in buffering a venture against environmental jolts. We surveyed 115 Korean technology-based ventures in 1997, just before the Asian IMF crisis, and then tracked their survival or failure in 2000. Our analysis reveals that a founder's education and experience in the venture's industry is associated with survival after a jolt. Organizational Commitment to Employees (OCE) and external relationships were also associated with survival in our study, suggesting that building the internal organisation and forming external relationships can help a venture overcome the effects of major environmental shocks.

Suggested Citation

  • Sooduck Chang & Donna Kelley & Hyunsuk Lee, 2009. "Venture survival after environmental jolts," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 9(3), pages 343-359.
    • Handle: RePEc:ids:ijeima:v:9:y:2009:i:3:p:343-359
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