4.5 Article

From distinctiveness to optimal distinctiveness: External endorsements, innovativeness and new venture funding

相关参考文献

注意:仅列出部分参考文献,下载原文获取全部文献信息。
Article Business

Evaluating Ventures Fast and Slow: Sensemaking, Intuition, and Deliberation in Entrepreneurial Resource Provision Decisions

Greg Fisher et al.

Summary: This paper examines the decision process of individuals evaluating whether to support entrepreneurial endeavors. It recognizes that these decisions are made under conditions of ambiguity and equivocality, making it difficult for resource providers to use a purely rational evaluative process. Drawing on insights from sensemaking and social and cognitive psychology, the authors present a theoretical model that combines sensemaking, intuition, and deliberation to explain the formation of entrepreneurial support decisions. The model takes into account individual and social factors that impact this decision process, providing a foundation for understanding such decisions across diverse actors and contexts.

ENTREPRENEURSHIP THEORY AND PRACTICE (2023)

Article Business

Going beyond optimal distinctiveness: Strategic positioning for gaining an audience composition premium

Majid Majzoubi et al.

Summary: The core question in strategy research is how firms should position themselves to gain favorable audience evaluations. This study shows that firms can increase their evaluations by strategically adjusting their relationships with the audience, particularly by engaging with audiences who have positive predispositions towards them and gaining an audience composition premium. The research finds that gaining an audience composition premium is more important for enhancing a firm's overall evaluations when there is a higher dispersion in audience predispositions towards the firm.

STRATEGIC MANAGEMENT JOURNAL (2023)

Article Business

The Promise of New Ventures' Growth Ambitions in Early-Stage Funding: On the Crossroads between Cheap Talk and Credible Signals

Simon Kleinert

Summary: The study suggests that expressing overly high growth ambitions may backfire for entrepreneurs as it may be seen as cheap talk and raises investors' credibility concerns. To overcome this, entrepreneurs can use costly signals, such as citing their experience or patents, to transform high ambitions into credible signals. Two empirical studies, based on equity crowdfunding data and a conjoint experiment, provide support for these arguments.

ENTREPRENEURSHIP THEORY AND PRACTICE (2023)

Article Management

Talking about a revolution? Costly and costless signals and the role of innovativeness in equity crowdfunding

Francesca Di Pietro et al.

Summary: Drawing on signaling theory, this study analyzes the impact of costly and costless signals on crowdfunding performance. The findings from a study of 597 UK equity crowdfunding campaigns suggest that costly signals increase crowdfunding amounts, while costless signals have a negative effect. However, companies introducing radical innovations are not penalized for using costless signals.

JOURNAL OF SMALL BUSINESS MANAGEMENT (2023)

Article Business

HOW DO INVESTORS EVALUATE PAST ENTREPRENEURIAL FAILURE? UNPACKING FAILURE DUE TO LACK OF SKILL VERSUS BAD LUCK

Diego Zunino et al.

Summary: This study addresses the limited research on investors' views of entrepreneurs who have failed in the past and highlights an innate asymmetry between past failure and success. Experimental results in the context of equity crowdfunding show that prospective crowdfunding investors rationally integrate informational cues regarding past outcomes and entrepreneurial skill.

ACADEMY OF MANAGEMENT JOURNAL (2022)

Article Business

Categories and narratives as sources of distinctiveness: Cultural entrepreneurship within and across categories

Karl Taeuscher et al.

Summary: Cultural entrepreneurship theory supports the idea that entrepreneurial narratives need to be optimally distinctive for attracting superior demand. This study on Airbnb listings suggests that the relationship between narrative distinctiveness and demand-side performance differs based on the category's distinctiveness. In indistinctive categories, moderate distinctiveness is ideal, while in distinctive categories, highly similar or highly distinctive narratives are more effective.

STRATEGIC MANAGEMENT JOURNAL (2022)

Article Business

Failed but validated? The effect of market validation on persistence and performance after a crowdfunding failure

Regan Stevenson et al.

Summary: This research investigates the impact of market validation on persistence and subsequent performance after a crowdfunding failure. The study uses both experimental and longitudinal field research methods to analyze the relationship. The findings suggest that market validation encourages entrepreneur persistence through affective activation and cognition-based action intentions, with expert validation strengthening this relationship. The field study demonstrates that market validation is a stronger predictor of post-crowdfunding failure performance compared to expert validation.

JOURNAL OF BUSINESS VENTURING (2022)

Article Business

Categorically right? How firm-level distinctiveness affects performance across product categories

Jonas Janisch et al.

Summary: In order to stand out while conforming to norms, firms need to consider the product category context for the impact of firm-level distinctiveness on their products.

JOURNAL OF BUSINESS VENTURING (2022)

Article Business

Access Denied: How Equity Crowdfunding Platforms Use Quality Signals to Select New Ventures

Simon Kleinert et al.

Summary: Equity crowdfunding platforms use various quality signals to select new ventures for fundraising campaigns, with their interpretation and effectiveness influenced by factors such as co-investment requirements, long-term performance revenues, and the applicant's industry background.

ENTREPRENEURSHIP THEORY AND PRACTICE (2022)

Article Psychology, Applied

A Marginal Effects Approach to Interpreting Main Effects and Moderation

John R. Busenbark et al.

Summary: This report focuses on the marginal effects approach to interpret how a main effect is influenced by a moderating variable, aiming to resolve confusion and provide clear instructions. By using different scenarios and examples, researchers can better understand the relationship between independent and dependent variables over various values of the moderator using this technique. The marginal effects approach is demonstrated to be helpful in resolving conflicting findings that may arise from using other prevailing techniques to interpret both main effects and moderation.

ORGANIZATIONAL RESEARCH METHODS (2022)

Article Business

Resourcefulness narratives: Transforming actions into stories to mobilize support

Greg Fisher et al.

Summary: Entrepreneurs often face resource constraints and use narratives as a critical tool to mobilize support from external resource providers. A resourcefulness narrative, which presents an entrepreneur as creatively using resources to overcome obstacles, generates positive emotional and cognitive reactions from external resource providers, increasing support for the venture.

JOURNAL OF BUSINESS VENTURING (2021)

Article Business

Investors' evaluation criteria in equity crowdfunding

Kourosh Shafi

Summary: This article explores the importance non-professional crowd investors place on criteria related to a start-up's management, business, and financials, and suggests that they may tend to place more weight on factors that are easier to evaluate. Research findings indicate that fundraising success is most strongly related to attributes of the product or service, followed by selected aspects of the team, while financial metrics do not predict funding success.

SMALL BUSINESS ECONOMICS (2021)

Article Business

Optimal distinctiveness in platform markets: Leveraging complementors as legitimacy buffers

Karl Taeuscher et al.

Summary: Research on optimal distinctiveness theory suggests that firms need to balance differentiation and conformity pressures for competitive advantage and legitimacy. The study on competing platforms in the MOOCs market shows that access to high-status complementors shapes the relationship between distinctiveness and user growth. Platforms can benefit from differentiation once they reach a certain level of legitimacy.

STRATEGIC MANAGEMENT JOURNAL (2021)

Article Business

GAINING LEGITIMACY BY BEING DIFFERENT: OPTIMAL DISTINCTIVENESS IN CROWDFUNDING PLATFORMS

Karl Taeuscher et al.

Summary: Studies show that high levels of distinctiveness in new ventures can improve their performance on crowdfunding platforms, and the legitimating effect of distinctiveness becomes more significant in the absence of alternative sources of legitimacy.

ACADEMY OF MANAGEMENT JOURNAL (2021)

Article Business

Third-party signals in equity crowdfunding: the role of prior financing

Simon Kleinert et al.

SMALL BUSINESS ECONOMICS (2020)

Article Business

Out of control or right on the money? Funder self-efficacy and crowd bias in equity crowdfunding

Regan M. Stevenson et al.

JOURNAL OF BUSINESS VENTURING (2019)

Article Management

Gender gap in entrepreneurship

Jorge Guzman et al.

RESEARCH POLICY (2019)

Article Business

How optimal distinctiveness affects new ventures' failure risk: A contingency perspective

Jan Goldenstein et al.

JOURNAL OF BUSINESS VENTURING (2019)

Article Business, Finance

Equity crowdfunding and the role of investor discussion boards

Simon Kleinert et al.

VENTURE CAPITAL (2019)

Article Business, Finance

Does investor risk perception drive asset prices in markets? Experimental evidence

Jurgen Huber et al.

JOURNAL OF BANKING & FINANCE (2019)

Article Business

TURNING LEAD INTO GOLD: HOW DO ENTREPRENEURS MOBILIZE RESOURCES TO EXPLOIT OPPORTUNITIES?

David R. Clough et al.

ACADEMY OF MANAGEMENT ANNALS (2019)

Article Management

Extending Signaling Theory to Rhetorical Signals: Evidence from Crowdfunding

Norbert Steigenberger et al.

ORGANIZATION SCIENCE (2018)

Article Business

Human capital signals and entrepreneurs' success in equity crowdfunding

Evila Piva et al.

SMALL BUSINESS ECONOMICS (2018)

Article Business

Signals' flexibility and interaction with visual cues: Insights from crowdfunding

David J. Scheaf et al.

JOURNAL OF BUSINESS VENTURING (2018)

Article Business

Information Cascades Among Investors in Equity Crowdfunding

Silvio Vismara

ENTREPRENEURSHIP THEORY AND PRACTICE (2018)

Article Business

Equity crowdfunding: First resort or last resort?

Xavier Walthoff-Borm et al.

JOURNAL OF BUSINESS VENTURING (2018)

Article Business

Finding the threshold: A configurational approach to optimal distinctiveness

Brent McKnight et al.

JOURNAL OF BUSINESS VENTURING (2018)

Article Management

Deconstructing the Outsider Puzzle: The Legitimation Journey of Novelty

Gino Cattani et al.

ORGANIZATION SCIENCE (2017)

Article Business

LEGITIMACY

Roy Suddaby et al.

ACADEMY OF MANAGEMENT ANNALS (2017)

Article Business

The paradox of new venture legitimation within an entrepreneurial ecosystem

Donald F. Kuratko et al.

SMALL BUSINESS ECONOMICS (2017)

Review Psychology, Applied

Designing Entrepreneurship Experiments: A Review, Typology, and Research Agenda

Dan K. Hsu et al.

ORGANIZATIONAL RESEARCH METHODS (2017)

Article Economics

Crowdfunding cleantech

Douglas J. Cumming et al.

ENERGY ECONOMICS (2017)

Article Business

Attributes of Angel and Crowdfunded Investments as Determinants of VC Screening Decisions

Will Drover et al.

ENTREPRENEURSHIP THEORY AND PRACTICE (2017)

Article Business

Resolving Information Asymmetry: Signaling, Endorsement, and Crowdfunding Success

Christopher Courtney et al.

ENTREPRENEURSHIP THEORY AND PRACTICE (2017)

Article Business

Crowdfunding Innovative Ideas: How Incremental and Radical Innovativeness Influence Funding Outcomes

C. S. Richard Chan et al.

ENTREPRENEURSHIP THEORY AND PRACTICE (2017)

Article Business

Legitimate to whom? The challenge of audience diversity and new venture legitimacy

Greg Fisher et al.

JOURNAL OF BUSINESS VENTURING (2017)

Article Business

Equity retention and social network theory in equity crowdfunding

Silvio Vismara

SMALL BUSINESS ECONOMICS (2016)

Article Business

BETTER TOGETHER? SIGNALING INTERACTIONS IN NEW VENTURE PURSUIT OF INITIAL EXTERNAL CAPITAL

Lawrence A. Plummer et al.

ACADEMY OF MANAGEMENT JOURNAL (2016)

Article Business

Signaling in Equity Crowdfunding

Gerrit K. C. Ahlers et al.

ENTREPRENEURSHIP THEORY AND PRACTICE (2015)

Article Business

Does the Possibility to Make Equity Investments in Crowdfunding Projects Crowd Out Reward-Based Investments?

Magdalena Cholakova et al.

ENTREPRENEURSHIP THEORY AND PRACTICE (2015)

Article Management

Entrepreneurial Storytelling, Future Expectations, and the Paradox of Legitimacy

Raghu Garud et al.

ORGANIZATION SCIENCE (2014)

Article Psychology, Applied

Best Practice Recommendations for Designing and Implementing Experimental Vignette Methodology Studies

Herman Aguinis et al.

ORGANIZATIONAL RESEARCH METHODS (2014)

Review Business

Legitimation of New Ventures: A Review and Research Programme

Florian Ueberbacher

JOURNAL OF MANAGEMENT STUDIES (2014)

Article Business

Preparedness and Cognitive Legitimacy as Antecedents of New Venture Funding in Televised Business Pitches

Jeffrey M. Pollack et al.

ENTREPRENEURSHIP THEORY AND PRACTICE (2012)

Article Business

Two Sides of the Same Coin: How Ambiguous Classification Affects Multiple Audiences' Evaluations

Elizabeth G. Pontikes

ADMINISTRATIVE SCIENCE QUARTERLY (2012)

Article Business

Business angel early stage decision making

Andrew L. Maxwell et al.

JOURNAL OF BUSINESS VENTURING (2011)

Article Business

'I Like How You Think': Similarity as an Interaction Bias in the Investor-Entrepreneur Dyad

Charles Y. Murnieks et al.

JOURNAL OF MANAGEMENT STUDIES (2011)

Review Psychology, Applied

Conjoint Analysis in Entrepreneurship Research A Review and Research Agenda

Franz T. Lohrke et al.

ORGANIZATIONAL RESEARCH METHODS (2010)

Article Business

Standing out: how new firms in emerging markets build reputation

Violina P. Rindova et al.

STRATEGIC ORGANIZATION (2007)

Review Business

Stacking the deck: The effects of top management backgrounds on investor decisions

MC Higgins et al.

STRATEGIC MANAGEMENT JOURNAL (2006)

Article Management

Organizing and the process of sensemaking

KE Weick et al.

ORGANIZATION SCIENCE (2005)