Abstract
This paper addresses the tension between a knowledge-based view and a cognitive view of firms, asking the question of whether deep knowledge is always beneficial for technology ventures or whether the ability to be cognitively flexible may be more important for new venture development. We test this tension by examining the effects of expertise at the CEO and top management team on the likelihood of technology change among the population of U.S. solar photovoltaic manufacturing ventures between 1992 and 2007. Surprisingly we find that firms led by experts at both the CEO and management team level are actually more rigid, decreasing the likelihood of change. Furthermore, we find that firms led by non-experts (at the CEO and management team level) are in fact more flexible and likely to change technology. To explore these theories more we also conduct an interaction analysis in which we contrast the value of complementary knowledge, as suggested by the knowledge-based view, against the role of team structure...
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