新創公司如何在權力控制和資源獲取之間取得平衡以追求成長？引進外資和外部法人董事的策略角色
Other Title
How Startups Can Strike a Balance Between Power Control and Resource Acquisition in Pursuit of Growth? The Strategic Role of Introducing Foreign Capital and External Corporate Directorship
Journal
組織與管理
Journal Volume
18
Journal Issue
2
Start Page
53
End Page
101
ISSN
1996-8760
Date Issued
2025-08
Author(s)
Abstract
本研究旨在探討新創公司在追求成長時，如何在保持權力控制和獲取資源之間尋求平衡，這在新創研究的相關文獻中仍存在爭議且缺乏實證證據。本研究從資源依賴理論和主導性邏輯的角度出發，認為引入不同類型的投資者（即境外投資者和外部法人董事）會對新創公司的權力控制權與資源獲取效率之間的關係產生不同的影響。本研究於2017至2021年間，透過對270家新創公司進行追蹤分析，發現創辦人持有公司股份愈高時，其獲取資源的效率愈低。然而，透過引進境外投資者和適當的外部法人董事，可以正向調節新創公司的權力控制和資源獲取效率之間的負向關係。本研究引入主導性邏輯觀點以補強傳統資源依賴理論對於在資源交換過程中資源提供方存有均質意圖的潛在假設，豐富了當新創公司在營運控制權和資源獲取之間猶豫不決時，提供其在異質投資者之間策略選擇的思考方向。
This study examines how startups balance power control and resource acquisition during their growth processes. This tension remains contested in entrepreneurship research and is underexplored empirically. Drawing on resource dependence theory and extending it with the concept of dominant logic, the study argues that the presence of heterogeneous investors- namely foreign investors and outside corporate directors- exerts varying influences on the relationship between founder control and resource acquisition efficiency. Using panel data from 270 startups between 2017 and 2021, the analysis reveals that higher founder ownership is associated with reduced resource acquisition efficiency. However, the involvement of foreign investors and certain external directors attenuates this negative relationship. By incorporating dominant logic, the study challenges the assumption of homogeneous intentions among resource providers embedded in traditional resource dependence theory, offering insights for how startups can strategically navigate tensions between operational control and resource access.
Subjects
主導性邏輯
創辦人控制
新創
資源依賴理論
資源獲取
dominant logic
founder control
startup
resource dependence theory
resource acquisition
Type
journal article