Sie können Bookmarks mittels Listen verwalten, loggen Sie sich dafür bitte in Ihr SLUB Benutzerkonto ein.
Medientyp:
E-Artikel
Titel:
Early Joiners and Startup Performance
Beteiligte:
Choi, Joonkyu;
Goldschlag, Nathan;
Haltiwanger, John;
Kim, J. Daniel
Erschienen:
MIT Press, 2023
Erschienen in:
Review of Economics and Statistics (2023), Seite 1-46
Sprache:
Englisch
DOI:
10.1162/rest_a_01386
ISSN:
0034-6535;
1530-9142
Entstehung:
Anmerkungen:
Beschreibung:
Abstract We show that early joiners—non-founder employees in the first year of a startup—play a critical role in shaping firm performance. We use administrative employer-employee matched data on US startups and utilize premature death as a natural experiment that exogenously separates talent from startups. We find that losing an early joiner has large negative effects on employment and revenues that persist for at least ten years. In contrast, losing a later joiner yields only a small and temporary decline in firm performance. Our results imply that organization capital, an important driver of startup success, is embodied in early joiners.