Abstract
In this study we investigate if and how information search mediates the relationship between business planning and new venture viability. We designed this study to help reconcile divergent positions on the value of business planning. We argue that when business planning reflects active search of valuable information -and it is not merely a ‘ceremonial’ tool crafted to convince stakeholders- it significantly improves venture performance. We test our mediation hypothesis using PSED II data and discuss the implications of our findings for the debate regarding the intrinsic value of writing business plans.
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