The dual-edged role of returnee board members in new venture performance

This study examines how returnee board members influence new venture performance. By analyzing data from 103 new ventures in China, the study finds that there is an inverse U-shaped relationship between the proportion of returnee board members and new venture performance. It also finds that foreign ownership negatively moderates and that slack resources positively moderate the effect of the proportion of returnee board members on new venture performance. In addition, a significant three-way interaction shows that slack resources weaken the negative effect of foreign ownership on the relationship of returnee board members to new venture performance. This study enriches the body of knowledge in new venture and emerging economics literature.