Hybrid Vigor: Securing Venture Capital by Spanning Categories in Nanotechnology

Tyler Wry, M. Lounsbury, P. Jennings
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引用次数: 169

Abstract

This study develops and tests a set of novel theoretical predictions about the conditions under which category spanning is rewarded by external audiences. To do this, we revisit the assumption that comprehensible organizational identities are associated with individual categories. Drawing on insights from cognitive psychology, we suggest that category spanning does not necessarily lead to confusion, but rather to interpretations that rely on a 'header-modifier' structure where one category anchors cognition but is modified by features of the other. Audiences may have clear understandings about how categories fit together and cognate schema for evaluating firms that hybridize by spanning between them. An empirical examination of venture capital in the carbon nanotechnology industry supports our approach: startups were rewarded or punished for hybridization contingent on how they mixed 'science' and 'technology' in their patents, top management team, and collaborations. As such, we show that the category a firm starts in, how it hybridizes, and the degree to which this affects core versus peripheral identity markers may all affect how it is perceived.
混合活力:确保风险资本在纳米技术跨越类别
本研究发展并检验了一套新的理论预测,即在何种条件下类别跨越会得到外部受众的奖励。为了做到这一点,我们重新审视了可理解的组织身份与个人类别相关的假设。根据认知心理学的见解,我们认为类别跨越并不一定会导致混淆,而是依赖于“标题-修饰语”结构的解释,其中一个类别锚定认知,但被另一个类别的特征修改。受众可能对类别是如何组合在一起的有清晰的理解,并对评估通过在它们之间跨越而杂交的公司有同源图式。对碳纳米技术行业风险资本的实证研究支持我们的方法:创业公司的奖励或惩罚取决于他们如何在专利、高层管理团队和合作中混合“科学”和“技术”。因此,我们表明,一家公司开始的类别,它是如何杂交的,以及这对核心与外围身份标记的影响程度,都可能影响它的感知方式。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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