Does mode of transfer matter for business performance?
Bastié, F., Cieply, S., & Cussy, P. (2018)
Transfers to employees versus transfers to outsiders. Small Business Economics, 50(1), 77-89
French panel on new businesses in the mid-2000s. Transfers to employees last longer than transfers to outsiders; they grow turnover less but create more jobs. Grounded in information and agency theory. The outsider-buyer category here is the closest large-sample proxy for a self-funded searcher. (Abstract source: Springer page.)
Sourcedoi:10.1007/s11187-017-9903-517 citations (OpenAlex)