Journal
JOURNAL OF BUSINESS VENTURING
Volume 27, Issue 5, Pages 525-543Publisher
ELSEVIER
DOI: 10.1016/j.jbusvent.2012.02.001
Keywords
Equity Distribution; Resources; Specific Experience
Categories
Funding
- ESRC [ES/H046569/1] Funding Source: UKRI
- Economic and Social Research Council [ES/H046569/1] Funding Source: researchfish
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Who helps entrepreneurs raise the resources they need and how much equity does an entrepreneur distribute in return? We use a sample of 611 entrepreneurs in the U.S. to examine why some entrepreneurs are more likely than others to distribute ownership selectively to helpers. We find that entrepreneurs with specific industry experience and start-up experience are able to provide ownership more selectively and raise more resources from their helpers. We refine the categorization of social ties further to make a distinction between professional and familial ties to show that the ownership distribution and types of resource contributions vary by the mix of ties in the entrepreneur's helper network. Our findings have implications for theories of resource assembly, social structure and entrepreneurship, and organization design. (C) 2012 Elsevier Inc. All rights reserved.
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