Description
Title: Effect of Executive Turnover and Founder CEO Experience on R&D Investment by New Ventures
Abstract: We look into the connection between executive turnover and research and development (R&D) investment because the direction and strategies of new ventures depend on the top management team’s (TMT) consistency and ongoing efforts. Additionally, we evaluate the moderating impact of the founder CEO’s prior experiences to demonstrate how founders’ firsthand knowledge reduces the negative effects of executives’ departure. 1897 Korean founder-led ventures are included in a sizable pool of firm-level survey datasets that we used for our empirical analysis. The empirical findings indicate that executive turnover lowers R&D intensity, which raises the possibility that the management team’s instability may have an impact on new ventures’ longer-term investments. We also demonstrate that when the founder CEO has a longer prior work experience, prior business group experience, and founding experience, the detrimental effects of executive turnover are lessened. Our research demonstrates that organizational instability is lessened by the founder CEO’s entrepreneurial spirit, which is based on valuable prior experiential knowledge. Our results demonstrate that the way in which leaders behave should also be taken into separate consideration, even though the TMT factor is crucial for a new venture’s survival.
Keywords: top management team; executive turnover; founder CEO; managerial experience; new venture; R&D intensity
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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