Founding the Future: Path Dependence in the Evolution of Top Management Teams from Founding to IPO

References

• Aldrich H. E.Organizations Evolving (1999) (Sage, London) Google Scholar
• Aldrich H. E., Zimmer C., Sexton D. L., Smilor R. W. Entrepreneurship through social networks. The Art and Science of Entrepreneurship (1986) (Ballinger, Cambridge, MA) 3–23Google Scholar
• Ancona D., Caldwell D. F. Demography and design: Predictors of new product team performance. Organ. Sci. (1992) 3:321–341Link, Google Scholar
• Audia P. G., Rider C. I. A garage and an idea: What more does an entrepreneur need? California Management Rev. (2005) 48:6–28Crossref, Google Scholar
• Baron J. N., Burton M. D., Hannan M. T. The road taken: Origins and evolution of employment systems in emerging companies. Indust. Corporate Change (1996) 5:239–275Crossref, Google Scholar
• Baron J. N., Burton M. D., Hannan M. T. Engineering bureaucracy: The genesis of formal policies, positions, and structures in high-technology firms. J. Law, Econom. Organ. (1999) 15:1–41Crossref, Google Scholar
• Baty G. B., Evan W. M., Rothermel T. W. Personnel flows as interorganizational relations. Admin. Sci. Quart. (1971) 16:430–443Crossref, Google Scholar
• Beckman C. M. The influence of founding team company affiliations on firm behavior. Acad. Management J. (2006) 49(4):741–758Crossref, Google Scholar
• Beckman C. M., Burton M. D., O'Reilly C. Early teams: The impact of team demography on VC financing and going public. J. Bus. Venturing (2007) 22(2):147–173Crossref, Google Scholar
• Boeker W., Carroll G. R. Organizational origins: Entrepreneurial and environmental imprinting at time of founding. Ecological Models of Organizations (1988) (Ballinger, Cambridge, MA) 33–51Google Scholar
• Boeker W. Executive migration and strategic change: The effect of top manager movement on product entry. Admin. Sci. Quart. (1997) 42:213–236Crossref, Google Scholar
• Boeker W., Karichalil R. Entrepreneurial transitions: Factors influencing founder departure. Acad. Management J. (2002) 45:818–826Crossref, Google Scholar
• Boeker W., Wiltbank R. New venture evolution and managerial capabilities. Organ. Sci. (2005) 16:123–133Link, Google Scholar
• Boone C., van Olffen W., van Witteloostuijn A., De Brabander B. The genesis of top management team diversity: Selective turnover among top management teams in Dutch newspaper publishing, 1970–94. Acad. Management J. (2004) 47:633–656Crossref, Google Scholar
• Bunderson J. S., Sutcliffe K. M. Comparing alternative conceptualizations of functional diversity in management teams: Process and performance effects. Acad. Management J. (2002) 45:875–893Crossref, Google Scholar
• Burton M. D., Beckman C. M. Leaving a legacy: Position imprints and successor turnover in young firms. Amer. Sociol. Rev. (2007) 72:239–266Crossref, Google Scholar
• Burton M. D., Sørensen J. B., Beckman C., Lounsbury M., Ventresca M. Coming from good stock: Career histories and new venture formation. Research in the Sociology of Organizations (2002) 19(JAI Press, Inc., Greenwich, CT) 229–262Google Scholar
• Carroll G. R., Harrison J. R. Organizational demography and culture: Insights from a formal model and simulation. Admin. Sci. Quart. (1998) 43:637–667Crossref, Google Scholar
• Certo S. T., Covin J. G., Daily C. M., Dalton D. R. Wealth and the effects of founder management among IPO-stage new ventures. Strategic Management J. (2001) 22(6/7):641–658Crossref, Google Scholar
• Charan R., Hofer C. W., Mahon J. F. From entrepreneurial to professional management: A set of guidelines. J. Small Bus. Management (1980) 18:1–10Google Scholar
• Cooper A. C., Gimeno-Gascon F. J., Woo C. Y. Initial human and financial capital as predictors of new venture performance. J. Bus. Venturing (1994) 9:371–395Crossref, Google Scholar
• Cronbach L. Statistical tests for moderator variables: Flaws in analysis recently proposed. Psych. Bull. (1987) 102:414–417Crossref, Google Scholar
• Dearborn D. W. C., Simon H. A. Selective perception: A note on the departmental identification of executives. Sociometry (1958) 21(2):140–144Crossref, Google Scholar
• Downs A.Inside Bureaucracy (1967) (Little Brown, Inc., Boston, MA) Crossref, Google Scholar
• Eisenhardt K. M., Schoonhoven C. B. Organizational growth: Linking founding teams, strategy, environment and growth among U.S. semi-conductor ventures. Admin. Sci. Quart. (1990) 28:274–291Google Scholar
• Fine S. A., Cronshaw S. F.Functional Job Analysis: A Foundation for Human Resources Management (1999) (Lawrence Erlbaum Associates, Florence, KY) Crossref, Google Scholar
• Finkelstein S., Hambrick D. C.Strategic Leadership: Top Executives and Their Effects on Organizations (1996) (West Publishing Company, Minneapolis/St. Paul, MN) Google Scholar
• Flamholtz E., Randle Y.Growing Pains (2000) (JAI Press, Greenwich, CT) Google Scholar
• Fligstein N.The Transformation of Corporate Control (1990) (Harvard University Press, Cambridge, MA) Google Scholar
• Gompers P. A., Lerner J.The Venture Capital Cycle (1999) (MIT Press, Cambridge, MA) Google Scholar
• Greiner L. E. Evolution and revolution as organizations grow. Harvard Bus. Rev. (1972) 50(4):37–46Google Scholar
• Gulati R., Higgins M. C. Which ties matter when? The contingent effects of interorganizational partnerships on IPO success. Strategic Management J. (2003) 24(2):127–144Crossref, Google Scholar
• Hambrick D. C. Upper echelons theory: An update. Acad. Management Rev. (2007) 32:334–343Crossref, Google Scholar
• Hambrick D. C., Mason P. Upper echelons: The organization as a reflection of its top managers. Acad. Management Rev. (1984) 9:193–206Crossref, Google Scholar
• Hannan M. T., Freeman J. Structural inertia and organizational change. Amer. Sociol. Rev. (1984) 49:149–164Crossref, Google Scholar
• Hannan M. T., Burton M. D., Baron J. N. Inertia and change in the early years: Employment relations in young, high technology firms. Indust. Corporate Change (1996) 5:503–536Crossref, Google Scholar
• Hannan M. T., Baron J. N., Hsu G., Kocak O. Organizational identities and the hazard of change. Indust. Corporate Change (2006) 15:755–784Crossref, Google Scholar
• Hellmann T., Puri M. The interaction between product market and financing strategy: The role of venture capital. Rev. Financial Stud. (2000) 13(4):959–984Crossref, Google Scholar
• Hellmann T., Puri M. Venture capital and the professionalization of start-up firms: Empirical evidence. J. Finance (2002) 57:169–197Crossref, Google Scholar
• Jehn K. A., Northcraft G. B., Neale M. A. Why differences make a difference: A field study of diversity, conflict, and performance in workgroups. Admin. Sci. Quart. (1999) 44(4):741–763Crossref, Google Scholar
• Jensen M., Zajac E. J. Corporate elites and corporate strategy: How demographic preferences and structural position shape the scope of the firm. Strategic Management J. (2004) 25(6):507–524Crossref, Google Scholar
• Keck S. Top management team structure: Differential effects by environmental context. Organ. Sci. (1997) 8:143–156Link, Google Scholar
• Knight D., Pearce C. L., Smith K. G., Olian J. D., Sims H., Smith K. A., Flood P. Top management team diversity, group process, and strategic consensus. Strategic Management J. (1999) 20:445–465Crossref, Google Scholar
• Lant T. K., Milliken F. J., Batra B. The role of managerial learning and interpretation in strategic persistence and reorientation: An empirical exploration. Strategic Management J. (1992) 13:585–608Crossref, Google Scholar
• Lawrence B. The black box of organizational demography. Organ. Sci. (1997) 8:1–22Link, Google Scholar
• Lin D. Y., Wei L. J. The robust inference for the Cox proportional hazards model. J. Amer. Statist. Assoc. (1989) 84:1074–1078Crossref, Google Scholar
• McPherson J. M., Smith-Lovin L., Cook J. M. Birds of a feather: Homophily in social networks. Annual Rev. Sociol. (2001) 27:415–444Crossref, Google Scholar
• Michels R.Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern Democracy (1915) (The Free Press, New York) Google Scholar
• Miner A. S. Idiosyncratic jobs in formalized organizations. Admin. Sci. Quart. (1987) 32:327–351Crossref, Google Scholar
• Mittman B. S., Tolbert P., Bacharach S. Theoretical and methodological issues in the study of organizational demography and demographic change. Research in the Sociology of Organizations (1992) 10(JAI Press, Greenwich, CT) 3–53Google Scholar
• Osterman P., Burton M. D., Tolbert P., Batt R. Ports and ladders: The nature and relevance of internal labor markets in a changing world. Oxford Handbook on Work and Organization (2004) (Oxford University Press, Oxford, UK) Google Scholar
• Pelled L. H., Eisenhardt K. M., Xin K. R. Exploring the black box: An analysis of work group diversity, conflict, and performance. Admin. Sci. Quart. (1999) 44:1–28Crossref, Google Scholar
• Pfeffer J., Staw B., Cummings L. Organizational demography. Res. in Organ. Behavior (1983) 5(JAI Press, Greenwich, CT) 299–357Google Scholar
• Phillips D. J. A genealogical approach to organizational life chances: The parent-progeny transfer among Silicon Valley law firms, 1946–1996. Admin. Sci. Quart. (2002) 47:474–506Crossref, Google Scholar
• Phillips D. J. Organizational genealogies and the persistence of gender hierarchies: The case of Silicon Valley law firms. Admin. Sci. Quart. (2005) 50:440–472Crossref, Google Scholar
• Randel A. E., Jaussi K. S. Functional background identity, diversity, and individual performance in cross-functional teams. Acad. Management J. (2003) 46:763–774Crossref, Google Scholar
• Reagans R., Zuckerman E. W. Networks, diversity, and productivity: The social capital of corporate R&D teams. Organ. Sci. (2001) 12:502–517Link, Google Scholar
• Reagans R., Zuckerman E. W., McEvily B. How to make the team: Social networks vs. demograhy as criteria for designing effective teams. Admin. Sci. Quart. (2004) 49:101–133Google Scholar
• Roberts E. B.Entrepreneurs in High Technology: Lessons from MIT and Beyond (1991) (Oxford University Press, New York) Crossref, Google Scholar
• Rogers E. M., Bhowmik D. K. Homophily-heterophily: Relational concepts for communication research. Public Opinion Quart. (1971) 34:523–538Crossref, Google Scholar
• Roure J., Keeley R. Predictors of success in new technology based ventures. J. Bus. Venturing (1990) 5:201–220Crossref, Google Scholar
• Ruef M., Aldrich H. E., Carter N. M. The structure of founding teams: Homophily, strong ties, and isolation among U.S. entrepreneurs. Amer. Sociol. Rev. (2003) 68(2):195–222Crossref, Google Scholar
• Schein E. H.Organizational Culture and Leadership (1992) 2nd ed.(Jossey Bass, San Francisco, CA) Google Scholar
• Schneider B. The people make the place. Personnel Psych. (1987) 40:437–453Crossref, Google Scholar
• Shane S., Stuart T. Organizational endowments and the performance of university start-ups. Management Sci. (2002) 48(1):154–170Link, Google Scholar
• Sine W. D., Mitsuhashi H., Kirsch D. A. Revisiting burns and stalker: Formal structure and new venture performance in emerging economic sectors. Acad. Management J. (2006) 49(1):121–132Crossref, Google Scholar
• Smith K., Smith K., Olian J., Sims H., O'Bannon D., Scully J. Top management team demography and process: The role of social integration and communication. Admin. Sci. Quart. (1994) 39:412–438Crossref, Google Scholar
• Sørensen J. B. Executive migration and interorganizational competition. Soc. Sci. Res. (1999) 28:289–315Crossref, Google Scholar
• Sørensen J. B. The organizational demography of racial employment segregation. Amer. J. Sociol. (2004) 110:626–671Crossref, Google Scholar
• Staw B. M. Knee-deep in the big muddy—A study of escalating commitment to a chosen course of action. Organ. Behav. Human Performance (1976) 16(1):27–44Crossref, Google Scholar
• Stinchcombe A. L., March J. G. Social structure and organizations. Handbook of Organizations (1965) (Rand McNally, Chicago, IL) 142–193Google Scholar
• Stuart T. E., Hoang H., Hybels R. C. Interorganizational endorsements and the performance of entrepreneurial ventures. Admin. Sci. Quart. (1999) 44:315–349Crossref, Google Scholar
• Sutcliffe K. M. What executives notice: Accurate perceptions in top management teams. Acad. Management J. (1994) 37(5):1360–1378Crossref, Google Scholar
• Tripsas M., Gavetti G. Capabilities, cognition and inertia: Evidence from digital imaging. Strategic Management J. (2000) 21(10/11):1147–1161Crossref, Google Scholar
• Tushman M. L., Rosenkopf L. Executive succession, strategic reorientation and performance growth: A longitudinal study in the U.S. cement industry. Management Sci. (1996) 42:939–953Link, Google Scholar
• Wanous J. P.Organizational Entry: Recruitment, Selection, Orientation, and Socialization of Newcomers (1992) (Addison-Wesley, Reading, MA) Google Scholar
• Wasserman N. Founder-CEO succession and the paradox of entrepreneurial success. Organ. Sci. (2003) 14(2):149–172Link, Google Scholar
• Williams K., O'Reilly C. Demography and diversity in organizations: A review of 40 years of research. Res. Organ. Behavior (1998) 20:77–140Google Scholar