Date of this Version


Document Type

Conference Paper

Publication Details

Published Version.

Kiessling, T., & Craig, J. B. (2008). New venture growing pains: When being acquired is an appropriate remedy. Paper presented at the 5th AGSE international entrepreneurship research exchange, Swinburne University of Technology, Melbourne, Australia.

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2008 HERDC submission. FoR Code: 1503

© Copyright Timothy Kiessling & Justin Craig, 2008


Our empirical research explores acquisitions of small entrepreneurial firms with a focus on the entrepreneurial management team (EMT) of the target firm. Utilizing the theoretical foundations of Resource Based View and Contract Theory we explore the dynamics of post acquisition performance of the target firm and the retention of the EMT. While controlling for firm size, type of purchase, ownership of target firm and industry dynamics, our results of a questionnaire survey of acquiring firms' top managers suggest that transfer or development of the implicit contract with the target firms' EMT positively affect both retention and performance.



This document has been peer reviewed.


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