Financial Management Competence of Founding Teams and Growth of New Technology–Based Firms
基于资源基础观，研究创始团队的财务管理能力（战略财务规划、外部融资、现金流融资、控制能力）对新技术企业成长的影响，基于212个创始团队的自我评估数据。
This article draws on the resource–based view to analyze the role founding teams’ financial management competencies play for firm growth. Prior research stressed the importance of acquiring external financial resources. In this study, we broaden the understanding of financial management in new firms. We explore the relevance of strategic financial planning competence, external financing competence, competence in financing from cash flow, and controlling competence of entrepreneurial teams for the growth of new technology–based firms. A total of 212 founding teams provided self–assessments of their financial management competencies at start–up. We apply the partial least squares approach to determine the effects of the different financial management competencies on firm growth.