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How Starting Strategy and Network Structure Shape Problemistic Search: An Examination of Venture Capital Firms

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  • Jake Duke
  • Taha Havakhor
  • Rachel Mui
  • Owen Parker

Abstract

Building on the behavioral theory of the firm, we empirically examine how starting strategies and syndication networks can influence venture capital (VC) firms’ problemistic search. We propose that: (a) depending on a VC’s strategic starting point, that is, the VC’s extent of specialization, the directionality of problemistic search may change to either expanding or contracting search activities; and (b) depending on search direction, structural holes in syndication networks can either impede or facilitate the problemistic search process. In a sample of U.S. VC firms, we find results consistent with our predictions, which have important implications for entrepreneurship and organizational strategy research.

Suggested Citation

  • Jake Duke & Taha Havakhor & Rachel Mui & Owen Parker, 2022. "How Starting Strategy and Network Structure Shape Problemistic Search: An Examination of Venture Capital Firms," Entrepreneurship Theory and Practice, , vol. 46(5), pages 1344-1373, September.
    • Handle: RePEc:sae:entthe:v:46:y:2022:i:5:p:1344-1373
    DOI: 10.1177/10422587211033574
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