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Primary Article

The Determinants of New Venture Success

Strategy, Industry Structure, and the Founding Entrepreneurial Team

Elisabeth J. Teal and Charles W. Hofer
The Journal of Private Equity Fall 2003, 6 (4) 38-51; DOI: https://doi.org/10.3905/jpe.2003.38
Elisabeth J. Teal
Associate professor of management in the School of Business and Government at North Georgia College and State University in Dahlonega. GA.
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  • For correspondence: eteal@ngcsu.edu
Charles W. Hofer
Regents Professor of Strategy and Entrepreneurship at the Terry College of Business at The University of Georgia in Athens.
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  • For correspondence: jrmh@bellsouth.net
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Abstract

New ventures are an important part of a healthy economy (Birch [1979]; Birley [1986]; Cooper Willard, and Woo [1986]). They are vital to the U.S. economy, with most of the net new jobs created by new ventures (Birch [1979]; Timmons [1994]). The formation of new ventures in the United States is increasing (U.S. Small Business Administration [1986]). However, the failure rate of new ventures is substantial, with the majority of the ventures failing prior to their third year (Ibrahim and Goodwin [1986]).

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The Journal of Private Equity
Vol. 6, Issue 4
Fall 2003
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The Determinants of New Venture Success
Elisabeth J. Teal, Charles W. Hofer
The Journal of Private Equity Aug 2003, 6 (4) 38-51; DOI: 10.3905/jpe.2003.38

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The Determinants of New Venture Success
Elisabeth J. Teal, Charles W. Hofer
The Journal of Private Equity Aug 2003, 6 (4) 38-51; DOI: 10.3905/jpe.2003.38
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