讲座题目:Academic Entrepreneurial Founding Teams and Venture Performance
主讲嘉宾: 洪苏婷
时间:2023年11月6日(星期一)上午9:30—11:30
地点:商学院116东方厅
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江南大学商学院
2023年11月3日
主讲嘉宾简介
洪苏婷,研究员,上海科技大学创业与管理学院任教。美国德雷赛尔大学(Drexel University)经济学博士、南京大学金融学学士。2016年-2019年,在意大利米兰理工大学管理学院担任访问学者。曾于2014-2016年担任美国联邦储备银行费城分行的访问学者。发表代表性研究成果于Journal of Financial and Quantitative Analysis等刊物。主持国家自然科学基金项目和上海市软科重点项目等。获得首届上海市高校教师教学创新大赛优秀奖(地方正高组,2021年)等教学奖项。
研究领域:创业投融资,科技创新企业发展, 产业组织。主要研究内容:洪苏婷博士的研究关注风险投资市场,科技创新企业的发展,以及科研成果商业化,通过构建理论模型或者开展实证分析,研究影响科技创新企业发展的市场力量或者政策工具。
讲座主要内容
We study the relation between science, technology, engineering & math (STEM) academic entrepreneurial founding team composition and venture performance. While academic founding teams may find it difficult to recruit functionally diverse team members (co-founders with commercial knowledge and experience), their venture development may disproportionately benefit from such diversity. We empirically test that proposition, as well as the mechanisms behind the relationship. We investigate the extent to which superior venture performance arises from (a) functionally diverse founding teams producing higher quality technologies and/or by (b) attracting more experienced financial investors (venture capitalists). By matching academic entrepreneurial founded ventures with observationally similar ones (but not founded by academic entrepreneurs), we empirically test the main effect as well as the two proposed mechanisms. We find a positive relation of STEM academic founders who have co-founders with business backgrounds on venture outcomes. As to the mechanisms, our results are not consistent with the proposition that more diverse teams produce more commercially-relevant patented technology, but rather that such diverse founding teams are more likely to attract the interest of experienced venture capitalists (who in turn help ventures achieve favorable outcomes).