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Do you need a chief technology officer? The effect of appointing a CTO on innovation activities in high‐tech new ventures.

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Title: Do you need a chief technology officer? The effect of appointing a CTO on innovation activities in high‐tech new ventures.
Authors: Gu, Yu1 (AUTHOR), Wang, Lihua2 (AUTHOR), Mai, Yiyuan3 (AUTHOR) maiyiyuan@mail.hust.edu.cn
Source: Journal of Product Innovation Management. Nov2024, Vol. 41 Issue 6, p1118-1140. 23p.
Subjects: Senior leadership teams, New business enterprises, Emerging markets, Chief executive officers, Entrepreneurship, Technological innovations
Geographic Terms: China
Abstract: Technological innovation is critical for high‐tech new ventures (HTNVs), and the position of Chief Technology Officer (CTO) has become increasingly crucial in top management teams (TMTs). Drawing upon the upper echelons theory and the attention‐based view of the firm, we examined a sample of 429 HTNVs in China between 2014 and 2019 to test whether and how appointing a CTO and the CTO's characteristics affect the new ventures' innovation activities. The results show that having a CTO position promotes HTNVs' exploratory innovation activities but does not affect exploitative innovation activities. While a longer CTO tenure positively affects exploratory innovation, it hinders exploitative innovation. In addition, a CEO serving as the CTO in a HTNV has a negative effect on exploitative innovation activities but no effect on exploratory innovation activities. This effect is contingent on the CEO's technological background and whether the CEO owns shares in the HTNV. The findings of this study enrich the literature on the upper echelons theory, the attention‐based view, and entrepreneurship and innovation and provide rare empirical evidence on whether and how appointing a CTO, CTO characteristics, and the interaction of CTO characteristics and CEO characteristics affect HTNVs' innovation activities in emerging markets. [ABSTRACT FROM AUTHOR]
Copyright of Journal of Product Innovation Management is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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  Data: Do you need a chief technology officer? The effect of appointing a CTO on innovation activities in high‐tech new ventures.
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  Data: <searchLink fieldCode="JN" term="%22Journal+of+Product+Innovation+Management%22">Journal of Product Innovation Management</searchLink>. Nov2024, Vol. 41 Issue 6, p1118-1140. 23p.
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  Data: <searchLink fieldCode="DE" term="%22Senior+leadership+teams%22">Senior leadership teams</searchLink><br /><searchLink fieldCode="DE" term="%22New+business+enterprises%22">New business enterprises</searchLink><br /><searchLink fieldCode="DE" term="%22Emerging+markets%22">Emerging markets</searchLink><br /><searchLink fieldCode="DE" term="%22Chief+executive+officers%22">Chief executive officers</searchLink><br /><searchLink fieldCode="DE" term="%22Entrepreneurship%22">Entrepreneurship</searchLink><br /><searchLink fieldCode="DE" term="%22Technological+innovations%22">Technological innovations</searchLink>
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  Data: <searchLink fieldCode="DE" term="%22China%22">China</searchLink>
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  Data: Technological innovation is critical for high‐tech new ventures (HTNVs), and the position of Chief Technology Officer (CTO) has become increasingly crucial in top management teams (TMTs). Drawing upon the upper echelons theory and the attention‐based view of the firm, we examined a sample of 429 HTNVs in China between 2014 and 2019 to test whether and how appointing a CTO and the CTO's characteristics affect the new ventures' innovation activities. The results show that having a CTO position promotes HTNVs' exploratory innovation activities but does not affect exploitative innovation activities. While a longer CTO tenure positively affects exploratory innovation, it hinders exploitative innovation. In addition, a CEO serving as the CTO in a HTNV has a negative effect on exploitative innovation activities but no effect on exploratory innovation activities. This effect is contingent on the CEO's technological background and whether the CEO owns shares in the HTNV. The findings of this study enrich the literature on the upper echelons theory, the attention‐based view, and entrepreneurship and innovation and provide rare empirical evidence on whether and how appointing a CTO, CTO characteristics, and the interaction of CTO characteristics and CEO characteristics affect HTNVs' innovation activities in emerging markets. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Journal of Product Innovation Management is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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RecordInfo BibRecord:
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        Value: 10.1111/jpim.12749
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      – Code: eng
        Text: English
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      – SubjectFull: Senior leadership teams
        Type: general
      – SubjectFull: New business enterprises
        Type: general
      – SubjectFull: Emerging markets
        Type: general
      – SubjectFull: Chief executive officers
        Type: general
      – SubjectFull: Entrepreneurship
        Type: general
      – SubjectFull: Technological innovations
        Type: general
      – SubjectFull: China
        Type: general
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      – TitleFull: Do you need a chief technology officer? The effect of appointing a CTO on innovation activities in high‐tech new ventures.
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            NameFull: Gu, Yu
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            NameFull: Wang, Lihua
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            NameFull: Mai, Yiyuan
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            – D: 01
              M: 11
              Text: Nov2024
              Type: published
              Y: 2024
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