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dc.contributor.authorDrover, Will
dc.contributor.authorWood, Matthew
dc.contributor.authorFassin, Yves
dc.date.accessioned2017-12-02T14:52:25Z
dc.date.available2017-12-02T14:52:25Z
dc.date.issued2014
dc.identifier.doi10.1016/j.jbusvent.2013.08.004
dc.identifier.urihttp://hdl.handle.net/20.500.12127/4781
dc.description.abstractDrawing on the multi-principal–agent perspective, this research models the influence of venture capitalists' reputation for ethical behavior on entrepreneurs' willingness to partner decisions. We test our model using a two-study design. Study one, a conjoint experiment, revealed that explicit knowledge of past unethical behavior negatively affects entrepreneurs' willingness to partner. Interaction effects revealed that factors previously shown to influence the entrepreneurs' evaluations—investor value-add and investment track record—become largely contingent upon and often subjugated by investors' ethical reputation. Study two, a traditional between-subjects scenario experiment, revealed that when entrepreneurs develop their own perceptions about the ethicality of an investor's prior behaviors, the ethical dimension remains highly influential. Further, we find that as the consequences of rejecting funding become more severe (e.g., possible bankruptcy), entrepreneurs become increasingly willing to partner with unethical investors. We also find that high fear of failure entrepreneurs are less willing to partner with unethical investors than their low fear of failure counterparts.
dc.language.isoen
dc.subjectVenture Capital
dc.subjectBusiness Ethics
dc.subjectInvestor Reputation
dc.subjectInvestor Selection
dc.subjectConjoint Analysis
dc.titleTake the money or run? Investors' ethical reputation and entrepreneurs' willingness to partner
dc.identifier.journalJournal of Business Venturing
dc.source.volume29
dc.source.issue6
dc.source.beginpage723
dc.source.endpage740
dc.source.numberofpages18
vlerick.knowledgedomainEntrepreneurship
vlerick.typearticleFT ranked journal article  
vlerick.vlerickdepartmentEGS
dc.identifier.vperid175878
dc.identifier.vperid23805
dc.identifier.vperid176855
dc.identifier.vpubid5695


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