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

This study investigates the relationship between the experience of fou nders and the performance of their firms. Previous research has report ed 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 ex perience and firm performance, and on the relationship between distinc t types of experience and distinct forms of expertise. The analyses ar e based on data collected from a sample of 43 owner-founded and operat ed biotechnology and telecommunication firms.