ScholarOne - The Effect of Stakeholder Orientation on Entrepreneurial
Ventures
- Myeongho Park,
- Per Bylund,
- Eunkwang Seo
Abstract
We develop a theoretical framework that examines how stakeholder
orientation in entrepreneurial ventures affects performance and how this
effect is dependent on stages of ventures. We also theorize how the
human capital of the venture board influences the stakeholder
management. Examining 1,669 ventures affected by constituency statutes
regarding stakeholder orientation, we find a negative relationship
between stakeholder orientation and the probability of exit, and this
relationship is more pronounced in older ventures. Furthermore, we show
that the managerial skills of the venture board mitigate this negative
relationship. This research significantly contributes to the literature
on stakeholder management in entrepreneurship.28 Jan 2024Submitted to Advance 22 Mar 2024Published in Advance