Abstract
This study examines how power configurations of new venture teams (NVTs) are associated with R&D intensity in new ventures. Drawing on the functional perspective of power hierarchy, we propose that the proportion of NVT members with high versus low power (i.e., power hierarchy skewness) has a positive effect on new venture R&D intensity. Moreover, this positive effect will be strengthened by hierarchy mutability and weakened by organizational slack. Based on a nine-year panel data of 363 new ventures with 1277 observations listed on the Growth Enterprises Market (GEM) in China, our hypotheses received general support. We discuss the theoretical and practical implications of our findings on new venture teams, power hierarchy and new venture innovation.
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