Top management team tenure and technological inventions at post-IPO biotechnology firms

Kun Liu, Jun Li, William Hesterly, Albert Cannella

Research output: Contribution to journalArticlepeer-review

29 Scopus citations

Abstract

We examine how top management teams (TMTs) facilitate invention performance. We test our hypotheses with a sample of 185 biotech firms that issued initial public offerings (IPOs) between 1980 and 1997. We predict that the percentage of founders on TMT has an inverted U-shaped relationship with invention performance. Average intrafirm tenure will be negatively associated with invention performance and average TMT member experiences from competitors or outside the industry will be positively associated with invention performance. Finally, contextual factors such as firm size and firm age moderate the impact of TMT experiences on invention performance.

Original languageEnglish (US)
Pages (from-to)1349-1356
Number of pages8
JournalJournal of Business Research
Volume65
Issue number9
DOIs
StatePublished - Sep 2012

Keywords

  • Entrepreneurship
  • Organization life cycle
  • TMT
  • Technological invention

ASJC Scopus subject areas

  • Marketing

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