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This study examines the conditions under which turnover in a firm's venture capital investment network affects its subsequent investment performance. While a firm's connections are crucial in predicting investment success, relying on the same connections over time can breed inertia and complacency. In this paper, we argue that there is an optimal point of network turnover, but also that this is dependent on the characteristics of the former partners with whom ties are severed. We collected a panel dataset of 5,157 venture capital firms across the 1990-2018 time period, and show that partner centrality and relational embeddedness affect the inverted U-shaped relationship between network turnover and subsequent IPOs. In doing so, we move beyond prior work on the project or investment level, and argue that there are additional consequences to turnover when considering the entire portfolio of ties rather than individual investments. Our findings contribute to literature taking a dynamic view on inter-organizational portfolios, and the boundary conditions of turnover in the venture capital context. [ABSTRACT FROM AUTHOR]

Co-operatives are important organisational forms assumed to be risk averse and lacking foresight and capabilities to add value. New generation coops challenge these assumptions but the picture of innovation and entrepreneurship in them is incomplete. Our exploratory case studies of producer co-ops suggests the use of science-informed growth strategies, quite sophisticated governance mechanisms that utilise co-op ownership structures and voting rights, and broad education activities that have economic and social benefit for the co-ops, its member firms, and the region. [ABSTRACT FROM AUTHOR]