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      "kind": "paragraph",
      "text": "Future research—possibly using \"finer grained\" qualitative methodologies (Harrigan 1983)—could delve into how a founder's motivations affect founding decisions, thus influencing control vs. value-creation outcomes.",
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      "text": "In fact, for the latter group of entrepreneurs, it's possible that we might find the opposite result as the one found when analyzing entrepreneurs as a whole: They may indeed make more from their startups than they could in paid employment.",
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      "text": "Power and economic motivations often dominate executive decision making (e.g., Tagiuri 1965). For entrepreneurs in particular, Sapienza, Korsgaard et al. (2003:106) argue that \"wealth maximization and self-determination are the two primary motives.\"",
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      "kind": "paragraph",
      "text": "of those studies to measure founder control. Entrepreneurs whose founding decisions prioritize maintaining control of the startup should indeed grow less value than the entrepreneurs whose founding decisions prioritize the attraction of value-added resources.",
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      "text": "This study also focuses on founders' revealed preferences. However, the values and motivations of an organization's most powerful actors can have a strong impact on its strategic choices (Tagiuri 1965; Hambrick and Mason 1984).",
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      "text": "However, not all entrepreneurs start ventures to get wealthy (Amit, MacCrimmon et al. 2000:120); among MIT alumni, independence (\"being own boss\") and challenge were more important motivators than financial gain (Roberts 1988; Roberts 1991).",
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      "text": "This study focuses on the company level of analysis, assessing how control affects company value. Resource-attraction decisions may also have an effect at the founder level of analysis—i.e., on the value of the founder's ownership stake.",
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      "text": "Rather than looking broadly at all entrepreneurs, we should take a more nuanced view of the population of entrepreneurs, examining how different founding decisions and their outcomes regarding value created and founder control.",
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