The sandwich game: Founder-CEOs and forecasting as impression management
dc.contributor.author | Collewaert, Veroniek | |
dc.contributor.author | Vanacker, Tom | |
dc.contributor.author | Anseel, Frederik | |
dc.contributor.author | Bourgois, Dries | |
dc.date.accessioned | 2020-12-10T09:33:13Z | |
dc.date.available | 2020-12-10T09:33:13Z | |
dc.date.issued | 2021 | en_US |
dc.identifier.issn | 0883-9026 | |
dc.identifier.doi | 10.1016/j.jbusvent.2020.106075 | |
dc.identifier.uri | http://hdl.handle.net/20.500.12127/6606 | |
dc.description.abstract | Drawing on impression management and social exchange theory, we examine the use of positively biased forecasts by (non-)founder-CEOs as an impression management tactic vis-à-vis their existing investors. Contrary to their non-founder counterparts, founder-CEOs identify more with the venture they founded and, therefore, experience greater instrumental and affective concerns about the long-term relationship with their investors. Consequently, we hypothesize that founder-CEOs will strategically provide less positively biased forecasts to their investors than non-founder-CEOs. Using two independent samples with revenue forecasts reported to different venture capital investors and a causal chain scenario study consisting of two experiments, we find consistent support for our hypothesis. Overall, this study provides new insights into the use of forecasts as a post-investment impression management tactic by distinct types of CEOs in entrepreneurial ventures. | en_US |
dc.description.sponsorship | We acknowledge financial support from the Fund for Scientific Research (FWO Vlaanderen), grant number G065417N. | |
dc.language.iso | en | en_US |
dc.publisher | Elsevier | en_US |
dc.subject | Forecasts | en_US |
dc.subject | Venture Capital | en_US |
dc.subject | Founder | en_US |
dc.subject | Impression Management | en_US |
dc.subject | Social Exchange Theory | en_US |
dc.title | The sandwich game: Founder-CEOs and forecasting as impression management | en_US |
dc.identifier.journal | Journal of Business Venturing | en_US |
dc.source.volume | 36 | en_US |
dc.source.issue | 1 | en_US |
dc.contributor.department | Ghent University, Department of Accounting, Corporate Finance and Taxation, University of Exeter, Sint-Pietersplein 7, 9000 Gent, Belgium | en_US |
dc.contributor.department | UNSW Business School, UNSW, Sydney, NSW 2052, Australia | en_US |
dc.contributor.department | Katholieke Universiteit Leuven, Department of Managerial Economics, Strategy and Innovation, Naamsestraat 69, 3000 Leuven, Belgium | en_US |
vlerick.knowledgedomain | Entrepreneurship | en_US |
vlerick.typearticle | FT ranked journal article | en_US |
vlerick.vlerickdepartment | EGS | en_US |
dc.identifier.vperid | 76153 | en_US |
dc.identifier.vperid | 86497 | en_US |