Eva Weissenböck, Nicola Breugst, Holger Patzelt, Rieke Dibbern
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Equity ownership and identification with the founding team
Founders benefit from identifying with their founding teams because identification facilitates cooperation in the team, aligns founders' actions with the norms and interests of the team, and, ultimately, enhances team performance. High identification with the team is likely to be shaped by structural characteristics of the founding team and, more specifically, founders' equity stakes—that is, founders' legal ownership of the venture. In the present study, we explore the consequences of equity ownership on a founder's subsequent identification with the team. We build on psychological ownership theory to theorize that, on the one hand, equity can trigger feelings of responsibility and care for the venture, but, on the other, it can also drive possessiveness and territoriality. These two opposing sides of psychological ownership suggest a curvilinear relationship between equity ownership and a founder's subsequent identification with the team. As equity is a team reward, we suggest that founders' perceptions of team performance accentuate the relationship. Longitudinal data including 156 data points from 82 founders support our theorizing. We discuss implications for the literatures on team identification, equity ownership, and psychological ownership.
期刊介绍:
"Applied Psychology: An International Review" is the esteemed official journal of the International Association of Applied Psychology (IAAP), a venerable organization established in 1920 that unites scholars and practitioners in the field of applied psychology. This peer-reviewed journal serves as a global platform for the scholarly exchange of research findings within the diverse domain of applied psychology.
The journal embraces a wide array of topics within applied psychology, including organizational, cross-cultural, educational, health, counseling, environmental, traffic, and sport psychology. It particularly encourages submissions that enhance the understanding of psychological processes in various applied settings and studies that explore the impact of different national and cultural contexts on psychological phenomena.