INSTITUTIONAL POLYCENTRISM, ENTREPRENEURS' SOCIAL NETWORKS, AND NEW VENTURE GROWTH

• 成果类型: Article
• 署名作者: Batjargal, Bat; Hitt, Michael A.; Tsui, Anne S.; Arregle, Jean-Luc; Webb, Justin W.; Miller, Toyah L.
• 署名单位: Harvard University; Texas A&M University System; Texas A&M University College Station; Mays Business School; emlyon business school; Oklahoma State University System; Oklahoma State University - Stillwater; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• DOI: 10.5465/amj.2010.0095
• 发表日期: 2013
• 页码: 1024-1049
• 关键词: STRUCTURAL HOLES; CHINA; performance; MARKETS; connections; ECONOMY; guanxi; RUSSIA; credit; TRANSITION

摘要

What is the interrelationship among formal institutions, social networks, and new venture growth? Drawing on the theory of institutional polycentrism and social network theory, we examine this question using data on 637 entrepreneurs from four different countries. We find the confluence of weak and inefficient formal institutions to be associated with a larger number of structural holes in entrepreneurial social networks. While the effect of this institutional order on the revenue growth of new ventures is negative, a network's structural holes have a positive effect on revenue growth. Furthermore, the positive effect of structural holes on revenue growth is stronger in an environment with a more adverse institutional order (i.e., weaker and more inefficient institutions). The contributions and implications of these findings are discussed.