The role of entrepreneurs' perceived competence and cooperativeness in early-stage financing

Svetek, Mojca (avtor)

Building on social-psychological insights into social perception and judgment and empirical findings from the entrepreneurship literature, we propose that early-stage equity investors look at two main dimensions to assess entrepreneurs seeking early-stage financing: competence and cooperativeness. In all, 84 angel investors and venture capitalists active in Europe participated in a conjoint experiment. The results show that investors prioritize entrepreneurs’ competence over their cooperativeness. Entrepreneurs’ competence is even more appealing to investors when combined with coachability. We find that entrepreneurs can compensate for a lack of experience by demonstrating solid market knowledge and appearing to be coachable. Furthermore, the results suggest that investors differ in their consideration of entrepreneurs’ cooperativeness, but not competence, when making investment decisions—a finding that is conditional on investors’ usual level of involvement in their portfolio ventures. We discuss these findings from a theoretical and practical perspective.

• Jezik: Angleški jezik
• Ključne besede: start-up, financing, cooperation, competence, social cognition, venture capital, angel investing, investment decision-making, value-adding behavior
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Status publikacije: Objavljeno
• Različica publikacije: Objavljena publikacija
• Leto izida: 2023
• Št. strani: Str. 2047–2076
• Številčenje: Vol. 47, iss. 6
• PID: 20.500.12556/RUL-143708
• UDK: 658
• ISSN pri članku: 1042-2587
• DOI: 10.1177/10422587221127000
• COBISS.SI-ID: 124829699
• Datum objave v RUL: 10.01.2023

Gradivo je del revije

• Naslov: Entrepreneurship theory and practice
• Skrajšan naslov: Entrep. theory pract.
• Založnik: SAGE
• ISSN: 1042-2587
• COBISS.SI-ID: 2878492

Licence

• Licenca: CC BY 4.0, Creative Commons Priznanje avtorstva 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by/4.0/deed.sl
• Opis: To je standardna licenca Creative Commons, ki daje uporabnikom največ možnosti za nadaljnjo uporabo dela, pri čemer morajo navesti avtorja.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: zagonsko podjetje, financiranje, sodelovanje