当失败并非致命时：考察产品开发失败后的风险资源获取情况

IF 7.8 1区管理学 Q1 BUSINESS

Entrepreneurship Theory and Practice Pub Date : 2024-08-07 DOI:10.1177/10422587241261618

Amrita Lahiri, Chandresh Baid, Arvin Sahaym, Greg Fisher

{"title":"当失败并非致命时：考察产品开发失败后的风险资源获取情况","authors":"Amrita Lahiri, Chandresh Baid, Arvin Sahaym, Greg Fisher","doi":"10.1177/10422587241261618","DOIUrl":null,"url":null,"abstract":"Product development in innovation-driven industries often fails. Although such failures cause new ventures to struggle to raise follow-on investments, some overcome this challenge. Why? Synthesizing insights from the research on signaling and social evaluation theory, we identify how certain resources can mitigate the risk of funding termination for new ventures despite product development failure. Through a longitudinal study of 254 venture capital-funded biotechnology ventures, we show that internal quality signals decrease in their effectiveness while industry endorsement signals increase in their effectiveness as quality signals over time. Our findings contribute to the literatures on entrepreneurial failure, entrepreneurial resource acquisition and signaling.","PeriodicalId":48443,"journal":{"name":"Entrepreneurship Theory and Practice","volume":"81 1","pages":""},"PeriodicalIF":7.8000,"publicationDate":"2024-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"When Failure Is Not Fatal: Examining Venture Resource Acquisition Following Product Development Failure\",\"authors\":\"Amrita Lahiri, Chandresh Baid, Arvin Sahaym, Greg Fisher\",\"doi\":\"10.1177/10422587241261618\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Product development in innovation-driven industries often fails. Although such failures cause new ventures to struggle to raise follow-on investments, some overcome this challenge. Why? Synthesizing insights from the research on signaling and social evaluation theory, we identify how certain resources can mitigate the risk of funding termination for new ventures despite product development failure. Through a longitudinal study of 254 venture capital-funded biotechnology ventures, we show that internal quality signals decrease in their effectiveness while industry endorsement signals increase in their effectiveness as quality signals over time. Our findings contribute to the literatures on entrepreneurial failure, entrepreneurial resource acquisition and signaling.\",\"PeriodicalId\":48443,\"journal\":{\"name\":\"Entrepreneurship Theory and Practice\",\"volume\":\"81 1\",\"pages\":\"\"},\"PeriodicalIF\":7.8000,\"publicationDate\":\"2024-08-07\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Entrepreneurship Theory and Practice\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://doi.org/10.1177/10422587241261618\",\"RegionNum\":1,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Entrepreneurship Theory and Practice","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/10422587241261618","RegionNum":1,"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

摘要

创新驱动型产业的产品开发经常失败。虽然这种失败会导致新企业在筹集后续投资时举步维艰，但也有一些企业克服了这一挑战。为什么会这样？综合信号传递研究和社会评价理论的见解，我们确定了某些资源如何在产品开发失败的情况下降低新企业资金终止的风险。通过对 254 家风险投资资助的生物技术企业进行纵向研究，我们发现，随着时间的推移，内部质量信号的有效性会降低，而行业认可信号作为质量信号的有效性会提高。我们的研究结果为有关创业失败、创业资源获取和信号的文献做出了贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

When Failure Is Not Fatal: Examining Venture Resource Acquisition Following Product Development Failure

Product development in innovation-driven industries often fails. Although such failures cause new ventures to struggle to raise follow-on investments, some overcome this challenge. Why? Synthesizing insights from the research on signaling and social evaluation theory, we identify how certain resources can mitigate the risk of funding termination for new ventures despite product development failure. Through a longitudinal study of 254 venture capital-funded biotechnology ventures, we show that internal quality signals decrease in their effectiveness while industry endorsement signals increase in their effectiveness as quality signals over time. Our findings contribute to the literatures on entrepreneurial failure, entrepreneurial resource acquisition and signaling.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Entrepreneurship Theory and Practice BUSINESS-

CiteScore

19.00

自引率

12.40%

发文量

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.