{"title":"Holding Friends Closer or Keeping Them at a Distance: The Intimacy with Founding Members and Its Effect on Entrepreneurs’ Effectual Problem Setting","authors":"Zhi Yang, Jinglan Yang","doi":"10.1515/erj-2022-0215","DOIUrl":null,"url":null,"abstract":"Abstract Whether founding with friends will affect entrepreneurs’ venturing model? Based on construal level theory, this study shows a fresh look into entrepreneurs’ intimacy with other founding members and its effects on their cognition of ongoing venturing projects. We argue that the stronger intimacy with other founding members shortens the perceived psychological distance between an entrepreneur and an ongoing project, thus lowering the entrepreneur’s construal level. The construal level mediates the effect on the problem space the entrepreneurs perceive. Using two-wave survey data from 162 Chinese founding teams, we find that the strong intimacy with other founding members results in less effectual problem setting through lower construal level. Moreover, the indirect effect is moderated by venturing team size in the way that a large venturing team size will weaken the effect. From the construal level theory perspective, our findings may explain why and how founding with friends may affect the venturing model choice and highlight the importance of entrepreneurs’ surrounding relationships within founding teams. This study also provides some potential practical implications for the entrepreneurs when founding with friends.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":2.0000,"publicationDate":"2022-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Entrepreneurship Research Journal","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1515/erj-2022-0215","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract Whether founding with friends will affect entrepreneurs’ venturing model? Based on construal level theory, this study shows a fresh look into entrepreneurs’ intimacy with other founding members and its effects on their cognition of ongoing venturing projects. We argue that the stronger intimacy with other founding members shortens the perceived psychological distance between an entrepreneur and an ongoing project, thus lowering the entrepreneur’s construal level. The construal level mediates the effect on the problem space the entrepreneurs perceive. Using two-wave survey data from 162 Chinese founding teams, we find that the strong intimacy with other founding members results in less effectual problem setting through lower construal level. Moreover, the indirect effect is moderated by venturing team size in the way that a large venturing team size will weaken the effect. From the construal level theory perspective, our findings may explain why and how founding with friends may affect the venturing model choice and highlight the importance of entrepreneurs’ surrounding relationships within founding teams. This study also provides some potential practical implications for the entrepreneurs when founding with friends.
期刊介绍:
Entrepreneurship Research Journal (ERJ) was launched with an Inaugural Issue in 2011. Professor Ramona Zachary at Baruch College and Professor Chandra Mishra at Florida Atlantic University introduce a new forum for scholarly discussion on entrepreneurs and their activities, contexts, processes, strategies, and outcomes. Positioned as the premier new research journal within the field of entrepreneurship, ERJ seeks to encourage a scholarly exchange between researchers from any field of study who focus on entrepreneurs, and will include both theoretical and empirical articles, with priority being given to high quality theoretical and empirical papers that have managerial or public policy orientation as well as ramifications for entrepreneurship research overall. Topics: -Research Modeling, Design, and Methods: entrepreneurship theories and conceptualizations, entrepreneurship research methods. -The Individuals-Opportunities-Resources Nexus: nascent entrepreneurs, opportunity recognition, drivers of value creation, and emergence, innovation and technology entrepreneurs, entrepreneurial risk and reward, entrepreneurial cognition and behavior. -Inclusive of Near Environments: family entrepreneurship, networks, teams and alliances, venture capital and angel investor groups, entrepreneurial communities, hubs, clusters and public policy, social entrepreneurship. -Distinct Entrepreneurial Stage or Setting: entrepreneurial growth and strategy, boards, governance and leadership, corporate entrepreneurship, international and emerging market entrepreneurship.