創業團隊異質性、團隊治理對創業績效的影響研究

The Effect of Entrepreneurial Team Heterogeneity and Governance on Entrepreneurial Performance

Student thesis: Doctoral Thesis

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Author(s)

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Detail(s)

Awarding Institution
Supervisors/Advisors
  • Yulin FANG (Supervisor)
  • Yuanxu LI (External person) (External Supervisor)
Award date28 May 2018

Abstract

創業領域的學者們通過研究指出,創業團隊在創業活動中起了至關重要的作用,很大程度上決定著創業的成敗。成功在區域市場和國家市場立足的創業企業,絕大部分其創業起步階段是由多人組成的創業團隊來完成的,而60%以上的創業失敗都可以歸因於創業團隊。但是組建創業團隊並非易事,因為組建團隊是化學反應,而不僅僅是人員簡單的疊加組合,看起來具有競爭優勢的人力資源成本組合,實際上團隊的組建、管理和工作可能會遇到許多問題。因此,深入剖析創業團隊的組成和特徵,並研究如何組建和治理優秀的創業團隊以實現創業企業績效最優化,對於小到創業企業的成功、大到我國的經濟轉型發展而言都至關重要。

高層階梯理論認為高層管理團隊的構成特徵及其反映出的團隊價值觀和認知基礎決定了組織的績效,即創業企業的績效很大一部分程度上會受創業團隊構成特徵的影響,團隊異質性是其中一個重要方面。根據社會認同理論,異質性強的團隊內部容易產生情感衝突,並對團隊合作和創業績效產生負向影響;而根據資源基礎理論,異質性強的團隊擁有更廣泛的認知基礎和資源基礎,可以使團隊有更優的決策能力和發現機會、把握機會的能力,對創業績效產生正向影響。通過深入的文獻研究和創業企業調研發現,無論是學術界還是業界,都一致認為創業團隊的異質性會對創業企業的績效產生影響,但具體如何影響以及影響機制如何,卻有許多分歧。究其原因有二:第一,團隊異質性的定義、測量以及分類不同,不同類別的異質性在不同的邊界條件下可能對創業績效有不同的影響;第二,團隊異質性對創業績效的影響機制仍不明確,可能有其他的變量或條件參與到作用過程中。

有鑑於此,本文基於以上理論,首先結合創業企業以及創業投資機構的實踐,引入了團隊治理理論,並對創業團隊異質性、創業團隊治理和創業績效三者之間的關係進行了深度分析,建立了以創業團隊治理為中介的創業團隊異質性對創業績效的影響模型。研究發現:

1、任務相關異質性中的教育程度異質性對創業企業的成長性績效和獲利性績效都具有正向影響作用;教育背景異質性對創業企業的成長性績效具有正向影響作用;而創業團隊行業經驗異質性對創業企業的成長性和獲利性績效均有負向的影響。

2、創業團隊契約治理對創業企業的成長性績效和獲利性績效都具有正向影響作用;並且創業團隊契約治理在教育背景異質性與成長性績效的影響關係中起部分中介作用;創業團隊契約治理在教育程度異質性與成長性績效和獲利性績效的影響關係中起部分中介作用。

3、企業規模、企業成立年限和創業團隊的平均教育程度都對創業企業能夠獲得風險投資有正向影響,即企業規模越大、成立時間越久、創業團隊成員的教育程度越高,創業企業越有可能獲得風險投資。並且,教育程度異質性越大,創業企業越傾向于實施契約治理,創業企業也越有可能獲得風險投資。

本研究在以往研究的基礎上,探索了團隊治理變量在創業團隊異質性與創業績效之間的中介作用,並用實證方法加以檢驗,拓展了現有對於創業團隊與創業績效之間過程的認識和理解;另外,在文獻研究、深度訪談的基礎上,開發了創業團隊契約治理和關係治理的測量量表,可以為未來的研究者提供參考;最後,本研究嘗試選取“是否獲取風險投資”之標準來衡量創業企業的綜合績效,是中國創業情境下一次有益的嘗試。

本研究的結果有助於指導創業團隊從團隊異質性構成的角度來考慮團隊成員的選擇和招募,構建適當的異質性創業團隊有助於創業企業取得更好的創業績效,並獲取風險投資機構的青睞;有助於提高創業團隊對於團隊治理的重視,為之提供理論依據,並通過加強團隊治理從而提高創業績效;有助於風險投資公司根據創業團隊特質和團隊治理對目標企業進行篩選和評判,實現與被投資企業的互利共贏。
The researchers in the field of entrepreneurship pointed out that the entrepreneurial team plays a crucial role in the entrepreneurial activity and largely determines the success or failure of starting a business. Most successful start-ups that are winners in the regional market and in the national market are mostly start-ups with the entrepreneurial team. And more than 60% of startup failures can be attributed to the start-up team. But setting up an entrepreneurial team is not easy because building a team is a chemical reaction, not just a simple overlay of people. A human capital combination that seems competitive may actually encounter many problems in team formation, management, and working. Therefore, analyzing the composition and characteristics of the entrepreneurial team in depth and studying how to set up and manage excellent entrepreneurial team governance in order to optimize the performance of the start-ups are crucial to the success of the start-ups and to the economic restructuring and development of our country.

The Upper Echelons Theory holds that the compositional characteristics of the top management team and the team values and cognitive bases reflected in it determine the performance of the organization. That is, the performance of the startup is affected to some extent by the characteristics of the entrepreneurial team and the team heterogeneity is one of the important characteristics. According to social identity theory, heterogeneous teams tend to have more emotional conflicts and have a negative impact on teamwork and entrepreneurial performance. According to the resource-based theory, heterogeneous teams have a wider cognitive foundation and resources fundamentals enable teams to have better decision-making skills and opportunities to identify opportunities and have a positive impact on entrepreneurial performance. Through in-depth theoretical research and on-site interview, we found that both the academia and the industry agree that the heterogeneity of the entrepreneurial team will influence the performance of startups, but disagree on the kinds of influence and the mechanism. There are two reasons for this. First, the definition, measurement, and classification of team heterogeneity are different. Different types of heterogeneity may have a different impact on entrepreneurial performance under different boundary conditions. Second, the mechanism between team heterogeneity and entrepreneurial performance is still not clear, and other variables or conditions may be involved in the process.

This paper introduces the theory of team governance based on theoretical research and the practice of start-up enterprises and venture capital institutions, and deeply analyzes the relationship between the heterogeneity of start-up teams, entrepreneurial team governance and entrepreneurial performance , established a model of the influence of team heterogeneity on entrepreneurial performance, with entrepreneurial team governance as a mediator. The empirical research found that:

1. The heterogeneity of educational level in the task-related heterogeneity has a positive effect on the growth and the profitability of start-ups; the heterogeneity of education background has a positive effect on the growth of start-ups. The heterogeneity of industry experience has a negative impact on the growth and profitability of start-ups.

2. Contract governance of entrepreneurial team has a positive effect on the growth and profitability of start-ups, and the contract governance of entrepreneurial team plays a partial mediating role in the relationship between the heterogeneity of education background and the growth. The contract governance plays a partial mediating role in the relationship between heterogeneity of education and the growth and profitability.

3. The size of the start-up, the age of the start-up, and the average educational level of the entrepreneurial team all have a positive impact on the obtaining of venture capital for the start-ups. And, the greater the degree of heterogeneity of education, the more start-ups tend to implement contract governance, and the more likely start-ups are to obtain venture capital.

Based on previous studies, this research explores the mediating role of team governance variables in the relation between heterogeneity of entrepreneurial teams and entrepreneurial performance and tests them with empirical methods to expand the existing theories. Moreover, based on the theoretical and in-depth interviews, this research develops a measurement of contract management and relationship governance in the entrepreneurial team, which can provide a reference for future researchers. In addition, this research tries to use the “venture capital investment decision” as the standard to measure the overall performance of start-ups, which is a useful attempt in the entrepreneurship research in China.

The results of this research help to guide the entrepreneurial team to consider the selection and recruitment of team members from the perspective of the heterogeneity of the team. It is helpful to construct a suitable heterogeneous team to help the entrepreneur achieve better performance and obtain the venture capital investment; help to improve entrepreneurship team governance and to improve entrepreneurial performance; help venture capital firms screening and judging start-ups based on entrepreneurial team characteristics and team governance, to achieve mutual benefit and win-win situation with the invested start-ups.

    Research areas

  • Entrepreneurship team, Team heterogeneity, Team governance, Entrepreneurship performance, Relation governance, Contract governance