Nascent venture's green initiative and investor judgment of legitimacy and funding decision
| Autor: | Brian G. Nagy, Yann Truong |
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| Rok vydání: | 2017 |
| Předmět: | |
| Zdroj: | Academy of Management Proceedings. 2017:17147 |
| ISSN: | 2151-6561 0065-0668 |
| DOI: | 10.5465/ambpp.2017.17147abstract |
| Popis: | Previous research has suggested that CSR initiatives are both resource- intensive and long-term oriented, and thus may not suit the limited resource base and time-constraint of nascent ventures. In this context, entrepreneurs have little incentive to invest in this type of activities at the emergence stage of their venture. However, entrepreneurs who hold pro-social beliefs and values often may have a desire to enact these in their venture project even though it may not bring any organizational benefits in the short-term. Our study investigates this tension through two experiments on a sample of 300 angel investors. Our findings indicate that green initiatives lead to favorable legitimacy judgment of the nascent venture, which in turn influences the likelihood of obtaining funding from investors. However, these findings are more likely to hold in a stable and predictable environment. |
| Databáze: | OpenAIRE |
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