Growth trajectories and enlarged view of corporate governance structures : a study of NTBFs leaders’ representation
Some new technology-based firms (NTBFs) helped by the French Ministry in charge of Research have been very successful ; however, there is a huge heterogeneity in NTBFs growth trajectories. This research aims to explain these heterogeneous trajectories through the evolution of governance structure in these firms, such as the evolution of ownership or the evolution of relationships with capital investors. To conduct this study, we propose the use of an enlarged view of corporate governance based on both disciplinary and cognitive prisms. This integrative perspective is particularly suited to study in all its complexity the issue of corporate governance in the context of NTBFs. The results are based on interviews with sixteen entrepreneurs, in firms created between 1999 and 2013. They confirm entrepreneurs’ broad vision about corporate governance and the necessary evolution of governance structure to support growth in NTBFs.