메뉴 건너뛰기




Volumn 21, Issue 6, 2006, Pages 773-801

How venture capitalists respond to unmet expectations: The role of social environment

Author keywords

Conflict management; Social environment; Venture capital

Indexed keywords


EID: 33746856262     PISSN: 08839026     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbusvent.2005.06.005     Document Type: Article
Times cited : (31)

References (82)
  • 1
    • 0003010471 scopus 로고
    • Social identity theory and the organization
    • Ashforth B.E., and Mael F. Social identity theory and the organization. Academy of Management Review 14 1 (1989) 20-39
    • (1989) Academy of Management Review , vol.14 , Issue.1 , pp. 20-39
    • Ashforth, B.E.1    Mael, F.2
  • 2
    • 0034340996 scopus 로고    scopus 로고
    • Effects of age at entry, knowledge intensity, and imitability on international growth
    • Autio E., Sapienza H., and Almeida J. Effects of age at entry, knowledge intensity, and imitability on international growth. Academy of Management Journal 43 5 (2000) 909-924
    • (2000) Academy of Management Journal , vol.43 , Issue.5 , pp. 909-924
    • Autio, E.1    Sapienza, H.2    Almeida, J.3
  • 3
    • 0003072593 scopus 로고
    • The relationship between venture capitalists and managers in new firms: determinants of contractual covenants
    • Barney J.B., Busenitz L., Fiet J., and Moesel D. The relationship between venture capitalists and managers in new firms: determinants of contractual covenants. Managerial Finance 20 1 (1994) 19-30
    • (1994) Managerial Finance , vol.20 , Issue.1 , pp. 19-30
    • Barney, J.B.1    Busenitz, L.2    Fiet, J.3    Moesel, D.4
  • 5
    • 0002473244 scopus 로고
    • The role of distinctiveness in social identity and group behavior
    • Hogg M.A., and Abrams D. (Eds), Harvester Wheatsheaf, Hertfordshire, UK
    • Brewer M. The role of distinctiveness in social identity and group behavior. In: Hogg M.A., and Abrams D. (Eds). Group Motivation: Social Psychological Perspectives (1993), Harvester Wheatsheaf, Hertfordshire, UK 1-16
    • (1993) Group Motivation: Social Psychological Perspectives , pp. 1-16
    • Brewer, M.1
  • 6
    • 20444444548 scopus 로고    scopus 로고
    • An institutional view of China's venture capital industry: explaining the differences between China and the West
    • Bruton G.D., and Ahlstrom D. An institutional view of China's venture capital industry: explaining the differences between China and the West. Journal of Business Venturing 17 (2002) 1-27
    • (2002) Journal of Business Venturing , vol.17 , pp. 1-27
    • Bruton, G.D.1    Ahlstrom, D.2
  • 7
    • 84936628790 scopus 로고
    • Social contagion and innovation: cohesion versus structural equivalence
    • Burt R.S. Social contagion and innovation: cohesion versus structural equivalence. American Journal of Sociology 92 (1987) 1287-1335
    • (1987) American Journal of Sociology , vol.92 , pp. 1287-1335
    • Burt, R.S.1
  • 9
    • 38249034732 scopus 로고
    • Syndicated investments by venture capital firms: a networking perspective
    • Bygrave W.D. Syndicated investments by venture capital firms: a networking perspective. Journal of Business Venturing 2 2 (1987) 139-154
    • (1987) Journal of Business Venturing , vol.2 , Issue.2 , pp. 139-154
    • Bygrave, W.D.1
  • 10
    • 0035604884 scopus 로고    scopus 로고
    • The influence of demographic heterogeneity on the emergence and consequences of cooperative norms in work teams
    • Chatman J.A., and Flynn F.J. The influence of demographic heterogeneity on the emergence and consequences of cooperative norms in work teams. Academy of Management Journal 44 5 (2001) 956-974
    • (2001) Academy of Management Journal , vol.44 , Issue.5 , pp. 956-974
    • Chatman, J.A.1    Flynn, F.J.2
  • 12
    • 0037237268 scopus 로고    scopus 로고
    • Stage financing and the role of convertible debt
    • Cornelli F., and Yosha O. Stage financing and the role of convertible debt. Review of Economic Studies 70 (2003) 1-32
    • (2003) Review of Economic Studies , vol.70 , pp. 1-32
    • Cornelli, F.1    Yosha, O.2
  • 14
    • 0000953669 scopus 로고
    • The iron cage revisited: institutional isomorphism and collective rationality in organizational fields
    • Di Maggio P.J., and Powell W.W. The iron cage revisited: institutional isomorphism and collective rationality in organizational fields. American Sociological Review 48 (1983) 147-160
    • (1983) American Sociological Review , vol.48 , pp. 147-160
    • Di Maggio, P.J.1    Powell, W.W.2
  • 15
    • 84936823637 scopus 로고
    • Social loafing and collectivism: a comparison of the United States and the People's Republic of China
    • Early P.C. Social loafing and collectivism: a comparison of the United States and the People's Republic of China. Administrative Science Quarterly 34 (1989) 565-581
    • (1989) Administrative Science Quarterly , vol.34 , pp. 565-581
    • Early, P.C.1
  • 16
    • 33746792946 scopus 로고    scopus 로고
    • European Private Equity and Venture Capital Association (EVCA). 2003. EVCA Guidelines: http://www.evca.com/pdf/Guidelines2003.pdf, accessed 2004-12-01.
  • 17
    • 0001428224 scopus 로고
    • Exit, voice, loyalty, and neglect as responses to job satisfaction: a multidimensional scaling study
    • Farrell D. Exit, voice, loyalty, and neglect as responses to job satisfaction: a multidimensional scaling study. Academy of Management Journal 26 (1983) 561-568
    • (1983) Academy of Management Journal , vol.26 , pp. 561-568
    • Farrell, D.1
  • 18
    • 33746840305 scopus 로고    scopus 로고
    • Finnish Venture Capital Association, 2003. http://www.fvca.fi/1e.html, accessed 2002-12-28.
  • 19
    • 0035457201 scopus 로고    scopus 로고
    • Getting to know you: the influence of personality on impressions and performance of demographically different people in organizations
    • Flynn F.J., Chatman J.A., and Spataro S.E. Getting to know you: the influence of personality on impressions and performance of demographically different people in organizations. Administrative Science Quarterly 46 3 (2001) 414-442
    • (2001) Administrative Science Quarterly , vol.46 , Issue.3 , pp. 414-442
    • Flynn, F.J.1    Chatman, J.A.2    Spataro, S.E.3
  • 20
    • 0031238273 scopus 로고    scopus 로고
    • Are venture capitalists firefighters? A study of the influence and impact of venture capital firms
    • Fredriksen Ö., Wahlbin C., and Olofsson C. Are venture capitalists firefighters? A study of the influence and impact of venture capital firms. Technovation 17 9 (1997) 503-511
    • (1997) Technovation , vol.17 , Issue.9 , pp. 503-511
    • Fredriksen, Ö.1    Wahlbin, C.2    Olofsson, C.3
  • 21
    • 0031280955 scopus 로고    scopus 로고
    • Limited attention and the role of the venture capitalist
    • Gifford S. Limited attention and the role of the venture capitalist. Journal of Business Venturing 12 (1997) 459-482
    • (1997) Journal of Business Venturing , vol.12 , pp. 459-482
    • Gifford, S.1
  • 22
    • 33746794773 scopus 로고    scopus 로고
    • Gompers, P.A., 1997. Ownership and Control in Entrepreneurial Firms: An Examination of Convertible Securities in Venture Capital Invesments. Working Paper, Harvard University and National Bureau of Economic Research.
  • 25
    • 0001282337 scopus 로고
    • Investment incentives, debt and warrants
    • Green R.C. Investment incentives, debt and warrants. Journal of Financial Economics 13 (1984) 115-136
    • (1984) Journal of Financial Economics , vol.13 , pp. 115-136
    • Green, R.C.1
  • 26
    • 33746788280 scopus 로고    scopus 로고
    • Guler, I., 2002. Managing Resource Allocation Across Time: Sequential Decision Making in the Venture Capital Industry. Working Paper, University of Pennsylvania.
  • 27
    • 0033121455 scopus 로고    scopus 로고
    • Employees' reactions to problematic events. A circumplex structure of five categories of responses, and the role of job satisfaction
    • Hagedoorn M., Van Yperen N.W., Van de Vliert E., and Buunk A.P. Employees' reactions to problematic events. A circumplex structure of five categories of responses, and the role of job satisfaction. Journal of Organizational Behavior 20 (1999) 309-321
    • (1999) Journal of Organizational Behavior , vol.20 , pp. 309-321
    • Hagedoorn, M.1    Van Yperen, N.W.2    Van de Vliert, E.3    Buunk, A.P.4
  • 28
    • 0042293656 scopus 로고    scopus 로고
    • The consequences of conflict between the venture capitalist and the entrepreneurial team in the United Kingdom from the perspective of the venture capitalist
    • Higashide H., and Birley S. The consequences of conflict between the venture capitalist and the entrepreneurial team in the United Kingdom from the perspective of the venture capitalist. Journal of Business Venturing 17 (2001) 59-81
    • (2001) Journal of Business Venturing , vol.17 , pp. 59-81
    • Higashide, H.1    Birley, S.2
  • 33
    • 85050840956 scopus 로고
    • Power, social influence, and sense making: effects of network centrality and proximity on employee perceptions
    • Ibarra H., and Andrews S.B. Power, social influence, and sense making: effects of network centrality and proximity on employee perceptions. Administrative Science Quarterly 38 (1993) 277-303
    • (1993) Administrative Science Quarterly , vol.38 , pp. 277-303
    • Ibarra, H.1    Andrews, S.B.2
  • 34
    • 44649197264 scopus 로고
    • Theory of the firm: managerial behavior, agency costs and ownership structure
    • Jensen M.C., and Meckling W.C. Theory of the firm: managerial behavior, agency costs and ownership structure. Journal of Financial Economics 3 (1976) 305-360
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.C.2
  • 35
    • 33746833775 scopus 로고    scopus 로고
    • Kaplan, S.N., Strömberg, P., 2000. Financial contractual theory meets the real world: An empirical analysis of venture capital contracts. NBER Working Paper no. w7660, NBER.
  • 37
    • 33746849890 scopus 로고    scopus 로고
    • Landström, H., Manigart, S., Mason, C., Sapienza, H.J., 1998. Contracts between Entrepreneurs and Investors: Covenants and Negotiation Process. Paper Presented at Babson-Kauffman Annual Conference, Gent, Belgium.
  • 40
    • 45249130669 scopus 로고
    • Venture capitalists' involvement in their investments: extent and performance
    • MacMillan I.C., Kulow D.M., and Khoylian R. Venture capitalists' involvement in their investments: extent and performance. Journal of Business Venturing 4 (1988) 27-47
    • (1988) Journal of Business Venturing , vol.4 , pp. 27-47
    • MacMillan, I.C.1    Kulow, D.M.2    Khoylian, R.3
  • 42
    • 0031504301 scopus 로고    scopus 로고
    • When employees feel betrayed: a model of how psychological contract violation develops
    • Morrison E.W., and Robinson S.L. When employees feel betrayed: a model of how psychological contract violation develops. Academy of Management Review 22 1 (1997) 226-256
    • (1997) Academy of Management Review , vol.22 , Issue.1 , pp. 226-256
    • Morrison, E.W.1    Robinson, S.L.2
  • 45
    • 21344477694 scopus 로고
    • The effects of venture capitalists' characteristics on the structure of the venture capital deal
    • Norton E., and Tenenbaum B.H. The effects of venture capitalists' characteristics on the structure of the venture capital deal. Journal of Small Business Management 31 4 (1993) 32-41
    • (1993) Journal of Small Business Management , vol.31 , Issue.4 , pp. 32-41
    • Norton, E.1    Tenenbaum, B.H.2
  • 48
    • 0033470493 scopus 로고    scopus 로고
    • The effects of cultural adaptation on business relationships: Americans selling to Japanese and Thais
    • Pornpitakpan C. The effects of cultural adaptation on business relationships: Americans selling to Japanese and Thais. Journal of International Business Studies 36 2 (1999) 317-338
    • (1999) Journal of International Business Studies , vol.36 , Issue.2 , pp. 317-338
    • Pornpitakpan, C.1
  • 49
    • 0001240263 scopus 로고
    • Attitudes toward new organizational technology: network proximity as a mechanism for social information processing
    • Rice R.E., and Aydin C. Attitudes toward new organizational technology: network proximity as a mechanism for social information processing. Administrative Science Quarterly 36 (1991) 219-244
    • (1991) Administrative Science Quarterly , vol.36 , pp. 219-244
    • Rice, R.E.1    Aydin, C.2
  • 50
    • 0030351690 scopus 로고    scopus 로고
    • Trust and breach of the psychological contract
    • Robinson S.L. Trust and breach of the psychological contract. Administrative Science Quarterly 41 (1996) 574-599
    • (1996) Administrative Science Quarterly , vol.41 , pp. 574-599
    • Robinson, S.L.1
  • 51
    • 0005481515 scopus 로고    scopus 로고
    • The origins and early development of the psychological contract construct
    • Roehling M.V. The origins and early development of the psychological contract construct. Journal of Management History 3 2 (1997) 204-214
    • (1997) Journal of Management History , vol.3 , Issue.2 , pp. 204-214
    • Roehling, M.V.1
  • 56
    • 45949117212 scopus 로고
    • A venture capital model of the development process for new ventures
    • Ruhnka J.C., and Young J.E. A venture capital model of the development process for new ventures. Journal of Business Venturing 2 (1987) 167-184
    • (1987) Journal of Business Venturing , vol.2 , pp. 167-184
    • Ruhnka, J.C.1    Young, J.E.2
  • 57
    • 84991149412 scopus 로고
    • Learning by association: professional associations as learning agents
    • Rusaw A.C. Learning by association: professional associations as learning agents. Human Resource Development Quarterly 6 2 (1995) 215-227
    • (1995) Human Resource Development Quarterly , vol.6 , Issue.2 , pp. 215-227
    • Rusaw, A.C.1
  • 58
    • 0002434522 scopus 로고
    • Responses to dissatisfaction in close relationships: the exit-voice-loyalty-neglect model
    • Perlman D., and Duck S. (Eds), Sage Publications, Newsbury Park, NJ
    • Rusbult C.E. Responses to dissatisfaction in close relationships: the exit-voice-loyalty-neglect model. In: Perlman D., and Duck S. (Eds). Intimate Relationships: Development, Dynamics and Deterioration (1987), Sage Publications, Newsbury Park, NJ 209-237
    • (1987) Intimate Relationships: Development, Dynamics and Deterioration , pp. 209-237
    • Rusbult, C.E.1
  • 59
    • 0001428789 scopus 로고
    • Impact of exchange variables on exit, voice, loyalty, and neglect: an integrative model of responses to declining job satisfaction
    • Rusbult C.E., Farrell D., Rogers G., and Mainous III A.G. Impact of exchange variables on exit, voice, loyalty, and neglect: an integrative model of responses to declining job satisfaction. Academy of Management Journal 31 3 (1988) 599-627
    • (1988) Academy of Management Journal , vol.31 , Issue.3 , pp. 599-627
    • Rusbult, C.E.1    Farrell, D.2    Rogers, G.3    Mainous III, A.G.4
  • 60
    • 0000887602 scopus 로고
    • The structure and governance of venture-capital organizations
    • Sahlman W. The structure and governance of venture-capital organizations. Journal of Financial Economics 27 (1990) 473-521
    • (1990) Journal of Financial Economics , vol.27 , pp. 473-521
    • Sahlman, W.1
  • 61
    • 0017980080 scopus 로고
    • A social comparison process to job design and task design
    • Salanick G., and Pfeffer J. A social comparison process to job design and task design. Administrative Science Quarterly 23 (1978) 224-253
    • (1978) Administrative Science Quarterly , vol.23 , pp. 224-253
    • Salanick, G.1    Pfeffer, J.2
  • 62
    • 0035626002 scopus 로고    scopus 로고
    • Social identities in an international joint venture: an explanatory case study
    • Salk J.E., and Shenkar O. Social identities in an international joint venture: an explanatory case study. Organization Science 12 2 (2001) 161-178
    • (2001) Organization Science , vol.12 , Issue.2 , pp. 161-178
    • Salk, J.E.1    Shenkar, O.2
  • 63
    • 21844490470 scopus 로고
    • Impact of agency risks and task uncertainty on venture capitalist-chief executive officer interaction
    • Sapienza H.J., and Gupta A.K. Impact of agency risks and task uncertainty on venture capitalist-chief executive officer interaction. Academy of Management Journal 37 6 (1994) 1618-1632
    • (1994) Academy of Management Journal , vol.37 , Issue.6 , pp. 1618-1632
    • Sapienza, H.J.1    Gupta, A.K.2
  • 64
    • 0011453162 scopus 로고
    • The level and nature of venture capitalist involvement in their portfolio companies: a study of three European countries
    • Sapienza H.J., Amason A.C., and Manigart S. The level and nature of venture capitalist involvement in their portfolio companies: a study of three European countries. Managerial Finance 20 1 (1994) 3-17
    • (1994) Managerial Finance , vol.20 , Issue.1 , pp. 3-17
    • Sapienza, H.J.1    Amason, A.C.2    Manigart, S.3
  • 65
    • 0030295259 scopus 로고    scopus 로고
    • Venture capitalist governance and value-added in four countries
    • Sapienza H.J., Manigart S., and Vermeir W. Venture capitalist governance and value-added in four countries. Journal of Business Venturing 11 6 (1996) 439-470
    • (1996) Journal of Business Venturing , vol.11 , Issue.6 , pp. 439-470
    • Sapienza, H.J.1    Manigart, S.2    Vermeir, W.3
  • 66
    • 33746858656 scopus 로고    scopus 로고
    • Seppä, M., 2000. Strategy Logic of the Venture Capitalist. Doctoral Dissertation. Jyväskylä Studies in Business and Economics 3, University of Jyväskylä, Finland.
  • 67
    • 33746782687 scopus 로고    scopus 로고
    • Seppä, T., 2003. Essays on the Evaluation and Syndication of Venture Capital Investments. Doctoral Dissertation. Helsinki University of Technology, Institute of Strategy and International Business.
  • 68
    • 0032220239 scopus 로고    scopus 로고
    • Who are employee's social referents? Using a network perspective to determine referent others
    • Shah P.P. Who are employee's social referents? Using a network perspective to determine referent others. Academy of Management Journal 41 3 (1998) 249-268
    • (1998) Academy of Management Journal , vol.41 , Issue.3 , pp. 249-268
    • Shah, P.P.1
  • 69
    • 0037991534 scopus 로고    scopus 로고
    • VC's decision processes: evidence suggesting more experience may not always be better
    • Shepherd D.A., Zacharakis A., and Baron R.A. VC's decision processes: evidence suggesting more experience may not always be better. Journal of Business Venturing 18 (2003) 381-401
    • (2003) Journal of Business Venturing , vol.18 , pp. 381-401
    • Shepherd, D.A.1    Zacharakis, A.2    Baron, R.A.3
  • 70
    • 0003025286 scopus 로고
    • Analysis of the use of advisors as information sources in venture start-ups
    • Smeltzer L.R., van Hook B.L., and Hutt R.W. Analysis of the use of advisors as information sources in venture start-ups. Journal of Small Business Management 29 3 (1991) 10-20
    • (1991) Journal of Small Business Management , vol.29 , Issue.3 , pp. 10-20
    • Smeltzer, L.R.1    van Hook, B.L.2    Hutt, R.W.3
  • 72
    • 4344701898 scopus 로고    scopus 로고
    • How early stage entrepreneurs evaluate venture capitalists
    • Babson College, Wellesley, MA
    • Smith D.G. How early stage entrepreneurs evaluate venture capitalists. Frontiers of Entrepreneurship Research (1999), Babson College, Wellesley, MA
    • (1999) Frontiers of Entrepreneurship Research
    • Smith, D.G.1
  • 74
    • 0035343976 scopus 로고    scopus 로고
    • Syndication networks and the spatial distribution of venture capital investments
    • Sorenson O., and Stuart T.E. Syndication networks and the spatial distribution of venture capital investments. The American Journal of Sociology 106 6 (2001) 1546-1587
    • (2001) The American Journal of Sociology , vol.106 , Issue.6 , pp. 1546-1587
    • Sorenson, O.1    Stuart, T.E.2
  • 75
    • 33746810224 scopus 로고    scopus 로고
    • Swedish Venture Capital Association, 2003. http://www.vencap.se, accessed 2003-05-30.
  • 76
    • 0001868677 scopus 로고
    • The social identity theory of intergroup behavior
    • Worchell S., and Austin W.G. (Eds), Nelson-Hall, Chicago
    • Tajfel H., and Turner J.C. The social identity theory of intergroup behavior. In: Worchell S., and Austin W.G. (Eds). Psychology of Intergroup Relations (1986), Nelson-Hall, Chicago 7-24
    • (1986) Psychology of Intergroup Relations , pp. 7-24
    • Tajfel, H.1    Turner, J.C.2
  • 79
    • 0002668568 scopus 로고
    • Social categorization and self-concept: a social cognitive theory of group behavior
    • Lawler E. (Ed), JAI Press, Greenwich, CT
    • Turner J.C. Social categorization and self-concept: a social cognitive theory of group behavior. In: Lawler E. (Ed). Advances in Group Processes vol. 2 (1985), JAI Press, Greenwich, CT
    • (1985) Advances in Group Processes , vol.2
    • Turner, J.C.1
  • 80
    • 0001716215 scopus 로고    scopus 로고
    • The impact of psychological contract violations on exit, voice, loyalty, and neglect
    • Turnley W.H., and Feldman D.C. The impact of psychological contract violations on exit, voice, loyalty, and neglect. Human Relations 52 (1999) 895-922
    • (1999) Human Relations , vol.52 , pp. 895-922
    • Turnley, W.H.1    Feldman, D.C.2
  • 81
    • 84985757520 scopus 로고
    • The effects of dichotomous and crossed social categorizations upon intergroup discrimination
    • Vanbeselaere N. The effects of dichotomous and crossed social categorizations upon intergroup discrimination. European Journal of Social Psychology 17 (1987) 143-156
    • (1987) European Journal of Social Psychology , vol.17 , pp. 143-156
    • Vanbeselaere, N.1
  • 82
    • 0032391619 scopus 로고    scopus 로고
    • Does trust matter? Exploring the effects of interorganizational and interpersonal trust on performance
    • Zaheer A., McEvily B., and Perrone V. Does trust matter? Exploring the effects of interorganizational and interpersonal trust on performance. Organization Science 9 2 (1998) 141-159
    • (1998) Organization Science , vol.9 , Issue.2 , pp. 141-159
    • Zaheer, A.1    McEvily, B.2    Perrone, V.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.