Journal
JOURNAL OF BUSINESS VENTURING
Volume 26, Issue 5, Pages 537-554Publisher
ELSEVIER
DOI: 10.1016/j.jbusvent.2010.03.002
Keywords
Entrepreneurial management; Slack; Penrose; Growth; Resources; Mediating relationship; Corporate entrepreneurship
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Resource slack represents a double-edged sword, simultaneously fueling and hindering growth. Drawing on Penrose's growth theory and Stevenson's entrepreneurial management theory, we have developed and tested a conceptual model that provides a more nuanced account of the resource slack-growth relationship. Using a large dataset spanning six years, we have found that slack has a positive direct effect on growth but a negative effect on entrepreneurial management, and that entrepreneurial management has a positive effect on growth. Our empirical and conceptual findings are important to the development of firm growth theory and explicate causal mechanisms transforming slack into firm-level outcomes. (C) 2010 Elsevier Inc. All rights reserved.
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