Edge of space game 5000 science exp11/2/2023 This note offers a number of tools families can consider when designing their governance frameworks. Unfortunately, the consequences of overlooking governance in family enterprises can lead to misaligned decisions, conflicts, and potential erosion of both the family’s and the business’s legacy. As the business scales in size and complexity, formalized governance is pushed down the road in favor of focusing on growth or out of a desire to avoid uncomfortable decisions. Its significance takes on a heightened dimension within family businesses, where the blending of family dynamics, business operations and shared assets makes the need for well-defined and accepted governance practices particularly essential. Governance stands as the backbone of any successful organization, providing the structure, transparency, and accountability necessary to guide decisions, ensure efficiency and foster sustainable growth. Finally, we consider the implications for policies that encourage OSS as a lever for stimulating entrepreneurial growth. Together, the results suggest that OSS can boost entrepreneurial activity, albeit with a human capital prerequisite. In addition to this positive change in the rate of entrepreneurship, we also find a change in direction-OSS contributions lead to new ventures that are more mission- and global-oriented and are of a higher quality. The evidence suggests this relationship is complementary to a country’s endowments, and does not substitute for them. The study finds that an increase in GitHub participation in a given country generates an increase in the number of new technology ventures within that country in the subsequent year. We propose an approach using instrumental variables, and cannot reject a causal interpretation. We estimate these effects using cross-country variation in new venture founding and OSS participation. This study measures whether country-level participation on the GitHub OSS platform affects the founding of innovative ventures, and where it does so, for what types of ventures. This is the first study to consider the relationship between open source software (OSS) and entrepreneurship around the globe.
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