Board interlocks in high technology ventures: The relation to growth, financing, and internationalization

Juhana Peltonen*, Mikko Rönkkö

*Corresponding author for this work

    Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

    3 Citations (Scopus)


    The significance of boards of directors is often considered minor in unlisted companies due to the low degree of agency problems. Research on the topic has also been limited due to data access issues. However, networks are essential to the success of internationalizing new ventures and interlocked boards of directors have the potential to act as important information and resource conduits. To improve understanding on these dynamics, we performed an exploratory cluster analysis on board interlocks of Finnish software companies using board data we obtained from the Finnish Trade Registry and a custom survey. Our results indicate that companies that have international revenue are often interlocked with each other. In addition, companies without international revenue plan to internationalize if they have an interlock to a company that has international revenue. Our results are mirrored against management theory and future research is outlined.

    Original languageEnglish
    Title of host publicationSoftware Business - First International Conference, ICSOB 2010, Proceedings
    PublisherSpringer Verlag
    Number of pages6
    Volume51 LNBIP
    ISBN (Print)9783642136320
    Publication statusPublished - 2010
    MoE publication typeA4 Article in a conference publication
    EventInternational Conference on Software Business - Jyvaskyla, Finland
    Duration: 21 Jun 201023 Jun 2010
    Conference number: 1

    Publication series

    NameLecture Notes in Business Information Processing
    Volume51 LNBIP
    ISSN (Print)18651348


    ConferenceInternational Conference on Software Business
    Abbreviated titleICSOB


    • Board interlocks
    • Boards of directors
    • Internationalization
    • Small and medium companies
    • Venture capital


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