过去一个类别的成功是否会影响现有的创业融资?:合法性溢出的视角

IF 7.8 1区管理学 Q1 BUSINESS

Entrepreneurship Theory and Practice Pub Date : 2022-11-24 DOI:10.1177/10422587221138228

M. Li, Charson Cancan Dong, Shige Makino

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引用次数: 0

摘要

关于创业众筹的研究很少关注类别在投资者决策中的作用。我们考察了同一行业类别的项目对重点项目融资的合法性溢出效应。我们将类别合法性分为两种类型——稳定的和短暂的——并调查它们对筹款的不同影响。我们的数据集来自2010年至2020年Kickstarter上的31767个项目，证实了类别合法性对创业融资的溢出效应。此外，稳定合法性的溢出效应比短暂合法性的溢出效应强得多，并且当企业家过去的成功程度较高时，这种效应减弱。

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Does a Past Category’s Success Influence Existing Entrepreneurial Fundraising?: A Legitimacy Spillover Perspective

Research on entrepreneurial crowdfunding has focused limited attention to the role of category in investors’ decisions. We examine the legitimacy spillover effect of projects within the same category of industry on the focal project’s fundraising. We decompose category legitimacy into two types—stable versus transient—and investigate their distinct effects on fundraising. Our dataset, derived from 31,767 projects on Kickstarter from 2010 to 2020, confirms the spillover effect of category legitimacy on entrepreneurial fundraising. Furthermore, the spillover effect of stable legitimacy is much stronger than that of transient legitimacy, and this effect weakens when entrepreneurs have greater past successes.

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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.