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- Title
The Effects of Perceived Control on Venture Capitalist Investment Decisions: A Configurational Perspective.
- Authors
Drover, Will; Wood, Matthew S.; Payne, G. Tyge
- Abstract
Drawing on agency and configurations theories, this study examines how perceived level of control over the entrepreneur influences venture capitalist ( VC) decision making. We model the direct effects of perceived control and the interactive effects of control with entrepreneurial prestige and opportunity attractiveness to determine how various combinations of factors influence VCs' willingness to invest. We test our conceptualizations using conjoint analyses of 552 VC investment decisions. The results show that perceived control is directly related to investment likelihood, but different configurations of control, entrepreneur prestige, and opportunity attractiveness result in different outcomes. Our findings support a configurational perspective of VC decision making.
- Subjects
PERCEIVED control (Psychology); DECISION making; VENTURE capital; INVESTORS; BUSINESSPEOPLE
- Publication
Entrepreneurship: Theory & Practice, 2014, Vol 38, Issue 4, p833
- ISSN
1042-2587
- Publication type
Article
- DOI
10.1111/etap.12012