The Interdependence Between Donors and Investors: Liability of Hybridity, Entrepreneurial Ecosystem Affordances, and Venture Financing

IF 7.8 1区 管理学 Q1 BUSINESS
Brandon Ofem, Ikenna Uzuegbunam, Satish Nambisan
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引用次数: 0

Abstract

This study investigates how spatial and digital affordances within entrepreneurial ecosystems (EEs) enable early-stage hybrid ventures to overcome the liability of hybridity and to secure funding from both philanthropic and equity funding sources. Using a simultaneous equation model with a U.S.-based sample of 2,723 hybrid ventures, we demonstrate that philanthropic and equity funding exhibit a statistically and economically significant complementary relationship. We further find that accelerator participation weakens this complementary relationship, while social media utilization strengthens it. These findings highlight the mechanisms through which EE-based affordances enhance hybrid ventures’ ability to navigate competing institutional logics and attract diverse funding sources.
出资方和出资方之间的相互依赖:混合性的责任、创业生态系统的可负担性和风险融资
本研究探讨了创业生态系统(EEs)中的空间和数字支持如何使早期混合企业克服混合性的责任,并从慈善和股权融资来源获得资金。利用美国2,723个混合企业样本的联立方程模型,我们证明了慈善和股权融资在统计和经济上都表现出显著的互补关系。我们进一步发现,加速器参与削弱了这种互补关系,而社交媒体的使用加强了这种互补关系。这些发现强调了基于电子商务的能力增强混合企业驾驭竞争制度逻辑和吸引不同资金来源的能力的机制。
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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来源期刊
CiteScore
19.00
自引率
12.40%
发文量
56
期刊介绍: Entrepreneurship Theory and Practice (ETP) is an interdisciplinary scholarly journal dedicated to conceptual and empirical research that advances, tests, or extends theory relating to entrepreneurship in its broadest sense. Article Topics: Topics covered in ETP include, but are not limited to: New Venture Creation, Development, Growth, and Performance Characteristics, Behaviors, and Types of Entrepreneurs Small Business Management Family-Owned Businesses Corporate, Social, and Sustainable Entrepreneurship National and International Studies of Enterprise Creation Research Methods in Entrepreneurship Venture Financing Content: The journal publishes articles that explore these topics through rigorous theoretical development, empirical analysis, and methodological innovation. ETP serves as a platform for advancing our understanding of entrepreneurship and its implications for individuals, organizations, and society.
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