Slack resources and the performance of privately held firms

• 成果类型: Article
• 署名作者: George, G
• 署名单位: University of Wisconsin System; University of Wisconsin Madison
• 刊物名称: ACADEMY OF MANAGEMENT JOURNAL
• ISSN/ISSBN: 0001-4273
• 发表日期: 2005
• 页码: 661-676
• 关键词: Risk-taking; MODEL; OWNERSHIP; ORGANIZATIONS; entrepreneurs; decisions; BEHAVIOR

摘要

Empirical findings from publicly traded firms and behavioral arguments suggest a positive influence of resource slack on financial performance. While this area has remained unexplored in privately held firms, conceptual arguments indicate that resource constraints may enhance performance. Longitudinal data on 900 privately held firms confirm the differing influences of forms of slack on performance. Results indicate that a combination of behavioral and resource constraints arguments are necessary to explain the slack-performance relationship in privately held firms. The implications of these findings for theories of resources and entrepreneurship are discussed.