Does management experience matter? An empirical investigation on the effects of management experience on SME firm growth in transition economies Online publication date: Mon, 19-Feb-2024
by Zhe Zhang; Justin T. Scott; John A. Parnell; Michael C. Osborne
J. for International Business and Entrepreneurship Development (JIBED), Vol. 15, No. 3, 2023
Abstract: This paper draws from human capital and knowledge-based perspectives to examine the relationship between management experience and firm growth in transitional economies. Using a sample of over 20,000 small-medium firms covering 26 transition economies between 2007 and 2019 obtained from World Bank's enterprise survey data, we report a significant negative linear relationship between management experience and firm growth. Management experience shares a U-shaped curvilinear relationship with employment growth and sales growth. Institutional quality moderates the U-shaped curvilinear relationship between management experience and sales growth. This study underscores the importance of multiple performance measures - not just profitability - and operationalises firm growth by measuring both sales and employment growth.
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