As new ventures grow, they face significant challenges to their internal operations and organizational structure. These challenges are particularly evident in small, entrepreneurial firms, who have limited resources, under-developed capabilities and often seek funding from external investors to enable growth. We draw on institutional theory, particularly institutional logics, to explore the role of different investors on human resource management (HRM) in small, entrepreneurial firms. Using qualitative multiple-case study analysis of seven firms within the Irish agrifood industry, our study shows how external investors can prompt changes to HRM, illustrating three approaches to HRM practice: operational – aimed at improving efficiency and internal functioning through human resources; strategic – aimed at improving firm performance and competitive advantage; and transformational – leading to a fundamental redirection of the firm. These findings facilitate the development of a framework for how investor logic prompts changes to HRM practices of small, entrepreneurial firms. By examining the interaction of institutional logics, this paper contributes a more nuanced understanding of entrepreneurial finance and its implications on HRM practices in small, entrepreneurial firms.

中文翻译：

---

小型企业的创业金融和人力资源管理实践

随着新企业的成长，它们的内部运营和组织结构面临着重大挑战。这些挑战在小型创业公司中尤为明显，这些公司资源有限，能力不足，并且经常寻求外部投资者的资金以实现增长。我们利用制度理论，特别是制度逻辑，探讨不同投资者在小型创业公司人力资源管理 (HRM) 中的作用。通过对爱尔兰农产品行业内七家公司的定性多案例研究分析，我们的研究显示了外部投资者如何促进人力资源管理的变革，说明了人力资源管理实践的三种方法：运营——旨在通过人力资源提高效率和内部运作；战略– 旨在提高公司业绩和竞争优势；和转型——导致公司的根本性转变。这些发现促进了投资者逻辑如何促使小型创业公司的人力资源管理实践发生变化的框架的开发。通过研究制度逻辑的相互作用，本文有助于更细致地理解创业金融及其对小型创业公司的人力资源管理实践的影响。