Research by Christine Beckman, Originally published in Research@Smith, Volume 15, No 1
Entrepreneurial boards typically stay actively involved in the growth of a new venture and can be critical to the company’s success. So it is important for startups to know which types of people they should offer board seats to.
Christine Beckman, associate professor of management and organization at the Robert H. Smith School of Business and Academic Director at UMD’s Center for Social Value Creation, looked at the influence of entrepreneurial boards and the makeup that helps startups grow quickly in a paper she co-coauthored for Academy of Management Journal. The authors followed 105 semiconductor firms founded in the United States from 1977 through 1990 to see how well the companies did and how the inaugural board members impacted success.
Continue reading for key findings from Professor Beckman’s study and takeaways to build an effective board for your startup.