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When Does Advice Impact Startup Performance? / Aaron Chatterji, Solène Delecourt, Sharique Hasan, Rembrand M. Koning.
- Format:
- Book
- Author/Creator:
- Chatterji, Aaron.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24789.
- NBER working paper series no. w24789
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- Why do some entrepreneurs thrive while others fail? We explore whether the advice entrepreneurs receive about people management influences their firm's performance. We conducted a randomized field experiment in India with 100 high-growth technology firms whose founders received in-person advice from other entrepreneurs who varied in their managerial style. We find that entrepreneurs who received advice from peers with an active approach to managing people-instituting regular meetings, setting goals consistently, and providing frequent feedback to employees-grew 28% larger and were 10 percentage points less likely to fail than those who got advice from peers with a passive people-management approach two years after our intervention. Entrepreneurs with MBAs or accelerator experience did not respond to this intervention, suggesting that formal training can limit the spread of peer advice.
- Notes:
- Print version record
- July 2018.
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