Edith Penrose’s theory of firm growth postulates that a firm’s current growth rate will be influenced by the adjustment costs of, and changes to a firm’s productive opportunity set arising from, previous growth. Although she explicitly considered the impact of previous organic growth on...

Financial theory, resource-based theory and access to deal flow are used to explain syndication practices among European venture capital (VC) firms. The desire to share risk and increase portfolio diversification is a more important motive for syndication than the desire to access additional...

We present evidence on the relative efficiency of U.K. university technology transfer offices (TTOs) using data envelopment analysis (DEA) and stochastic frontier estimation (SFE). We find that U.K. TTOs exhibit low levels of absolute efficiency. Universities located in regions with higher...

Edith Penrose's theory of firm growth postulates that a firm's current growth rate will be influenced by the adjustment costs of, and changes to a firm's productive opportunity set arising from, previous growth. Although she explicitly considered the effect of previous organic growth on current...

This study looks at the investment behavior of 68 early stage venture capital funds in Europe. Using a conjoint analysis model, it lets venture capitalists make investment decisions in 27 well selected business proposals. The technique combines the advantage of post hoc studies (well coded and...

The purpose of this paper is to investigate the extent to which institutional origin has an impact on the resource endowments of science-based entrepreneurial firms, which are founded from the research base developed at public research organisations. Investigation of the potential explanatory...

Edith Penrose argued that firms face a constraint on organic growth because of growth activities in previous periods. Central to her ideas about growth is the distinction between managerial and entrepreneurial capabilities. Growth in previous periods creates adjustment costs which are associated...

In this paper we investigate the status of corporate social responsibility (CSR) research within the management literature. In particular, we examine the focus and nature of knowledge, the changing salience of this knowledge and the academic influences on the knowledge. We present empirical...