Madrid Conference > Session Details

Session 441

Funding Entrepreneurial Ventures: Sources and Successes

Track K	Date: Tuesday, September 23, 2014
Track X	Time: 17:15 – 18:30
Paper	Room: Monaco

Session Chair:

Sharon Alvarez, University of Denver

Title: Signals of Quality: Which New Ventures Are Suitable For Funding?

Authors

Linda Edelman, Bentley University
Tatiana Manolova, Bentley University
Candida Brush, Babson College

Abstract: Drawing on signaling theory, we examine how new ventures credibly communicate their underlying quality, using a unique dataset of 697 new ventures that sought investment from a prominent angel group located in the greater Boston, MA area during 2007-2010. Findings suggest that early on in the angel investment decision-making process signals of viability and legitimacy are significant, but as the firm moves through the process, signals of legitimacy preempt other types of signals.

Title: The Bumpy Road to Market: Conflicting Logics in the Transition from Grant Dependence to Social Entrepreneurship

Authors

Johannes Warther, University of Bath

Abstract: This research asks how actors handle situations of external jolts in the broader socio-cultural ecosystems disrupting their institutional logics, forcing them to strategically re-align their operations. It applies the theoretical perspective of institutional logics to analyse issues in strategy formation faced by organisations that are transitioning from public funding into financial independence. Empirical evidence is gathered from an in-depth case study of a local council project, which faced the elimination of its council budget. Initial findings demonstrate that actors who find themselves in such a situation rely on external help to guide them towards the adaptation of a new institutional logic and that the process comprises five stages, namely initial external contact, basic common ground, comprehensive understanding, gaining practical experience and living the new logic.

Title: Wasps and Tarantulas: Cooperative Agreements In Corporate Venture Capital Investment

Authors

Sharon Alvarez, University of Denver
Robert Wuebker, University of Utah

Abstract: Young, entrepreneurial firms enter into alliances with larger firms in ever-increasing numbers. A rich literature in strategy demonstrates that the older, established firm most often appropriates the value in those alliances and that the alliance negatively impacts the performance and survival of the entrepreneurial firm. This paper examines the alliance dyad from the entrepreneurial firm's perspective and seeks to understand how the entrepreneurial firm can benefit most from these alliances. We contribute to the literature on entrepreneurial firm alliances by incorporating insights from learning races to hypothesize how smaller firms might generate successful alliance outcomes, using corporate venture capital investment as our empirical testbed.

Title: Why Crowdfunding Projects Can Succeed: The Role of Proponents’ Territorial Social Capital

Authors

Massimiliano Guerini, University of Pisa
Cristina Rossi Lamastra, Polytechnic University of Milan
Giancarlo Giudici, Polytechnic University of Milan

Abstract: Crowdfunding implies mobilizing the crowd to finance projects which are posted on dedicated websites, known as crowdfunding platforms. In this paper, we aim at learning more on what determines the probability of a project to reach the target funding. We apply the lens of social capital, defined by the goodwill available to her/him from the structure and content of his/her social relations. In particular, we distinguish between ‘individual’ (exclusive) and ‘territorial’ (locally shared) social capital. We test our hypotheses by running Probit estimates on a sample of 461 crowdfunding projects posted by 699 proponents and hosted on 11 Italian crowdfunding platforms.

All Sessions in Track K...

Sun: 08:00 – 09:15
Session 386: Entrepreneurial Corporate Governance: Sun: 09:30 – 10:45
Session 387: Social Capital in Emerging Markets: Local, Glocal or Global?: Sun: 11:15 – 12:30
Session 462: Crowdfunding: State of the Art and Directions for Future Research: Sun: 15:45 – 17:00
Session 235: Cognitive and Behaviorial Perspectives of Entrepreneurial Decision Making
Session 380: Small, Young and Entrepreneurial Firms: A Unique Perspective in Globalization: Sun: 17:15 – 18:30
Session 607: Entrepreneurship and Strategy IG Business Meeting: Mon: 08:00 – 09:15
Session 227: Entrepreneurial Orientation, capabilities and firm performance
Session 445: Adaptation issues for Entrepreneurial Firms: Mon: 11:00 – 12:15
Session 232: Theory Building in the Field of Entrepreneurship
Session 440: Entrepreneurial Strategies in Emerging and International markets: Mon: 14:45 – 16:00
Session 231: Entrepreneurial Leadership: What it Takes to be a Successful Enterprise?
Session 457: Ownership and Funding Structures: Performance Implications for the entrepreneurial firms: Mon: 16:30 – 17:45
Session 226: Culture, Norms and Institutions: The contextual influences on Entrepreneurship
Session 229: Who Founds and how the Founding Team Impacts the Entrepreneurial Firm?: Tue: 08:00 – 09:15
Session 224: Funding an Entrepreneurial Venture: What Works and What Does Not?
Session 236: Universities, Academics and Incubators: The Role of Academic Institutions in Shaping Entrepreneurial Firm and Outcomes: Tue: 11:00 – 12:15
Session 230: TMTs as Firm Resources
Session 309: New Conversations on Business Models: Tue: 15:30 – 16:45
Session 225: Entrepreneurial Networks: Formation and Implications
Session 228: Dynamic Capabilities and Performance Implications for New Firms: Tue: 17:15 – 18:30
Session 234: Institutional, Industry and Firm Specific Impacts on Nascent Firms
Session 441: Funding Entrepreneurial Ventures: Sources and Successes

Session 441

Funding Entrepreneurial Ventures: Sources and Successes

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