An Empirical Study On The Effect Of The Change Of Entrepreneurial Team Members On The Performance Of Start-up Companies

In today's era of global entrepreneurial activity,entrepreneurial teams have become a star in society.The theory and practice of entrepreneurship show that with the development of start-up companies,the ability of the entrepreneurial team cannot adapt to the development requirements of the newly-created company,and the change of the entrepreneurial team members has become a common phenomenon.The main form of realisation is the entry and exit of members of the entrepreneurial team.Many existing literature mainly studies the causes and influencing factors of entry and exit of startup team members.However,how these changes in startup team influence the performance of start-up companies is rare but only provides some scattered explanations.The theoretical assumptions of these studies are inconsistent with empirical findings.In this study,we propose that these inconsistencies may be due to the influence of entrepreneurial team system factors on the entry and exit of entrepreneurial team members on the performance of start-up companies.From the perspective of team governance,consider the impact of the entry and exit of startup team members on new ventures subject to a formal governance model.The existing research lacks consideration of the management factors of entrepreneurial teams,and the understanding of the impact of entry and exit of entrepreneurial team members on entrepreneurial performance is not comprehensive enough.There are two points in this article's innovation: The first is to use the resource-based view and transaction cost theory to explain the impact of entry and exit of startup team members on the performance of start-up companies.The second is the effect of contract governance mechanisms on the entry and exit of startup team members.Based on theoretical deductions and empirical tests,we have reached the following conclusions:(1)The entry of entrepreneurial team members has a significant positive impact on start-up performance.(2)The exit of the startup team members has a significant negative impact on the start-up company performance.(3)Contract governance positively regulates the entry of entrepreneurial team members has no significant impact on entrepreneurial performance.(4)Contract governance positively influences the entry of entrepreneurial team members in the impact on entrepreneurial performance.