Abstract
Extant research has indicated that human, social, and financial capital are primary determinants of new venture performance, yet empirical investigations of the combinations of these resources and their relationship to new venture performance are lacking. The following two studies examine performance at the start-up and growth stages of the venture life cycle. We apply fuzzy-set Qualitative Comparative Analysis to determine which resource configurations consistently lead to high performance in new high-tech and low-tech firms. Results indicate entrepreneurs do not require all three primary types of capital at all times to prosper because multiple, context-dependent paths to new venture performance exist.
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