Exploring the Role of Entrepreneurial Team Characteristics on Entrepreneurial Orientation

Abstract

This study explores the role of entrepreneurial teams’ characteristics as determinants of entrepreneurial orientation (EO). Previous literature usually assumed the determinants of EO as given, and focused on the performance effects of EO. Although some theoretical concerns shed light on the role of entrepreneurial team influences on EO, a direct analysis of such positive association has so far been limited. This current study examines the positive influences of top talents and the possible influence of functional diversity of entrepreneurial teams on EO, as well as those of entrepreneur’s human and social capital. The results of 1,228 Korean business venture samples showed that the level of EO is determined by both the entrepreneurial team characteristics, such as human and social capital, and the existence of marketing top talents. However, supplementary subgroup analyses showed that these positive effects of an entrepreneurial team’s characteristics on EO are significant for the sample of “founders stay,” whereas the positive influence of an entrepreneurial team’s diversity as well as the existence of marketing top talents are significant for the sample of “founders left.” Based on these results, theoretical and practical implications are discussed.

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