ENTREPRENEURS EXPERIENCE, EXPERTISE, AND THE PERFORMANCE OF TECHNOLOGY-BASED FIRMS

This study investigates the relationship between the experience of founders and the performance of their firms. Previous research has reported mixed evidence of a relationship between entrepreneurs' experience and their firms' performance. It is argued that this mixed evidence is due to the mediating influence of experientially acquired expertise. The study focuses on the extent to which expertise mediates between experience and firm performance, and on the relationship between distinct types of experience and distinct forms of expertise. The analyses are based on data collected from a sample of 43 owner-founded and operated biotechnology and telecommunication firms.