Kok-Bing Poh, Fang-Yi Lo, Kun-Huang Huarng, Ing. Tatiana Masárová
{"title":"Legitimacy theory for digitalization and international strategy of new venture capitalization","authors":"Kok-Bing Poh, Fang-Yi Lo, Kun-Huang Huarng, Ing. Tatiana Masárová","doi":"10.1007/s11365-024-00979-1","DOIUrl":null,"url":null,"abstract":"<p>Venture capital financing prioritizes new ventures with modern technology that are known for employing risky market disruptive business models. Configuring data on new ventures to the legitimacy theory, this research identifies 3. (1) to test the veracity of the classic legitimacy theory on new venture competition, (2) to derive key factors’ influence on the capitalization of new ventures, and (3) to define the Forbes database according to four legitimacy strategies: conformance, selection, manipulation, and creative legitimacy. Empirical data comprise Forbes top 500 startups whose observations are instrumental in linking their high funding needs in 2022. Venture capital demands evidence of the highest legitimization, creative legitimization, for startups pursuing a disruptive business model. This finding is consistent with (a) congruence of the legitimacy theory in explaining new ventures’ innovative competition model and (b) venture capital’s endorsements of the new ventures’ more inimitable digital competitiveness.</p>","PeriodicalId":48058,"journal":{"name":"International Entrepreneurship and Management Journal","volume":null,"pages":null},"PeriodicalIF":6.2000,"publicationDate":"2024-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Entrepreneurship and Management Journal","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1007/s11365-024-00979-1","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Venture capital financing prioritizes new ventures with modern technology that are known for employing risky market disruptive business models. Configuring data on new ventures to the legitimacy theory, this research identifies 3. (1) to test the veracity of the classic legitimacy theory on new venture competition, (2) to derive key factors’ influence on the capitalization of new ventures, and (3) to define the Forbes database according to four legitimacy strategies: conformance, selection, manipulation, and creative legitimacy. Empirical data comprise Forbes top 500 startups whose observations are instrumental in linking their high funding needs in 2022. Venture capital demands evidence of the highest legitimization, creative legitimization, for startups pursuing a disruptive business model. This finding is consistent with (a) congruence of the legitimacy theory in explaining new ventures’ innovative competition model and (b) venture capital’s endorsements of the new ventures’ more inimitable digital competitiveness.
期刊介绍：
The International Entrepreneurship and Management Journal (IEMJ) publishes high quality manuscripts dealing with entrepreneurship, broadly defined, and the management of entrepreneurial organizations. The journal will expand the study of entrepreneurship and management by publishing innovative articles based on different perspectives using a variety of methodological approaches and showing the practical implications of the research for its readership. IEMJ is unique; providing a multi-disciplinary forum for researchers, scholars, consultants, entrepreneurs, businessmen, managers and practitioners in the field of entrepreneurship. The journal covers the relationship between management and entrepreneurship including both conceptual and empirical papers, leading to an improvement in the understanding of international entrepreneurial perspectives of the organisations concerned. Entrepreneurial studies are important in creating new economic activity that in turn increases innovation, employment, economic wealth and growth. The journal focuses on the diverse and complex characteristics of entrepreneurship in SMEs and large companies in local, regional, national or international markets that lead to competitiveness in the face of the effects of globalization. Though preference will be given to manuscripts that are international in scope, papers focused on domestic contexts and issues are welcome also, in order to facilitate the sharing of knowledge and potential generalizability of findings worldwide. IEMJ will publish original papers which contribute to the advancement of the field of entrepreneurship and the interface between management and entrepreneurship, as well as articles on business corporate strategy and government economic policy. On occasions, the journal will also feature case studies of successful firms or other cases having important practical implications. The journal places great emphasis on the quality of the papers it publishes. Submission of a paper will imply that it contains original unpublished work and is not being submitted for publication elsewhere. Officially cited as: Int Entrep Manag J
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号
