@article{Markman.2001,
title = {Governing the innovation process in entrepreneurial firms},
author = {Gideon D. Markman and David B. Balkin and Leon Schjoedt},
journal = {Journal of High Technology Management Research},
number = {2},
pages = {273-293},
volume = {12},
year = {2001},
abstract = {We challenge the implicit assumption that entrepreneurs are the sole owners of their young firms and we suggest that because cutting-edge innovation projects are complex, they create substantial information asymmetry between entrepreneurs and their investors. Linking previous research on governance, entrepreneurship, and innovation, we ask what forms of governance and incentive systems are conducive to spur and implement innovation among young entrepreneurial firms. Using agency theory and building on the rich literature on governance, we make eight practical suggestions regarding the governance of young entrepreneurial firms. We suggest that early and effective governance systems may help entrepreneurs and investors work in alignment with each other's best interests. (C) 2001 Elsevier Science Inc. All rights reserved. [ABSTRACT FROM AUTHOR]},
issn = {1047-8310},
keywords = {CORPORATE governanceHIGH innovations technologyMANAGEMENTTECHNOLOGICAL }
}
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