메뉴 건너뛰기




Volumn 41, Issue 2, 2017, Pages 265-290

Resolving Information Asymmetry: Signaling, Endorsement, and Crowdfunding Success

Author keywords

[No Author keywords available]

Indexed keywords


EID: 85007422262     PISSN: 10422587     EISSN: 15406520     Source Type: Journal    
DOI: 10.1111/etap.12267     Document Type: Article
Times cited : (550)

References (71)
  • 2
    • 85005305538 scopus 로고
    • The market for “lemons”: Quality uncertainty and the market mechanism
    • Akerlof, G.A. (1970). The market for “lemons”: Quality uncertainty and the market mechanism. The Quarterly Journal of Economics, 84(3), 488–500.
    • (1970) The Quarterly Journal of Economics , vol.84 , Issue.3 , pp. 488-500
    • Akerlof, G.A.1
  • 3
    • 0001428045 scopus 로고
    • Entrepreneurial ability, venture investments, and risk sharing
    • Amit, R., Glosten, L., & Muller, E. (1990). Entrepreneurial ability, venture investments, and risk sharing. Management Science, 36(10), 1233–1246.
    • (1990) Management Science , vol.36 , Issue.10 , pp. 1233-1246
    • Amit, R.1    Glosten, L.2    Muller, E.3
  • 4
    • 0347076594 scopus 로고    scopus 로고
    • The determinants of board structure at the initial public offering
    • Baker, M. & Gompers, P.A. (2003). The determinants of board structure at the initial public offering. Journal of Law and Economics, 46(2), 569–598.
    • (2003) Journal of Law and Economics , vol.46 , Issue.2 , pp. 569-598
    • Baker, M.1    Gompers, P.A.2
  • 5
    • 1142278777 scopus 로고    scopus 로고
    • Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups
    • Baum, J.A. & Silverman, B.S. (2004). Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups. Journal of Business Venturing, 19(3), 411–436.
    • (2004) Journal of Business Venturing , vol.19 , Issue.3 , pp. 411-436
    • Baum, J.A.1    Silverman, B.S.2
  • 6
    • 33845408173 scopus 로고    scopus 로고
    • Early teams: The impact of team demography on VC financing and going public
    • Beckman, C.M., Burton, M.D., & O'Reilly, C. (2007). Early teams: The impact of team demography on VC financing and going public. Journal of Business Venturing, 22(2), 147–173.
    • (2007) Journal of Business Venturing , vol.22 , Issue.2 , pp. 147-173
    • Beckman, C.M.1    Burton, M.D.2    O'Reilly, C.3
  • 8
    • 84923413682 scopus 로고    scopus 로고
    • Cultural differences and geography as determinants of online prosocial lending
    • Burtch, G., Ghose, A., & Wattal, S. (2014). Cultural differences and geography as determinants of online prosocial lending. MIS Quarterly, 38(3), 773–794.
    • (2014) MIS Quarterly , vol.38 , Issue.3 , pp. 773-794
    • Burtch, G.1    Ghose, A.2    Wattal, S.3
  • 11
    • 20444437671 scopus 로고    scopus 로고
    • Third-party product review and firm marketing strategy
    • Chen, Y. & Xie, J. (2005). Third-party product review and firm marketing strategy. Marketing Science, 24(2), 218–240.
    • (2005) Marketing Science , vol.24 , Issue.2 , pp. 218-240
    • Chen, Y.1    Xie, J.2
  • 13
    • 85014125880 scopus 로고    scopus 로고
    • Information asymmetry and entrepreneurship
    • In, (). Hoboken, NJ Wiley
    • Dutta, S. & Folta, T.B. (2015). Information asymmetry and entrepreneurship. In Wiley Encyclopedia of Management (pp. 1–5). Hoboken, NJ: Wiley.
    • (2015) Wiley Encyclopedia of Management , pp. 1-5
    • Dutta, S.1    Folta, T.B.2
  • 14
    • 84947776405 scopus 로고    scopus 로고
    • A comparison of the effect of angels and venture capitalists on innovation and value creation
    • Dutta, S. & Folta, T.B. (2016). A comparison of the effect of angels and venture capitalists on innovation and value creation. Journal of Business Venturing, 31(1), 39–54.
    • (2016) Journal of Business Venturing , vol.31 , Issue.1 , pp. 39-54
    • Dutta, S.1    Folta, T.B.2
  • 15
    • 34249976385 scopus 로고
    • The determinants of changes in US self-employment, 1968–1987
    • Evans, D.S. & Leighton, L.S. (1989). The determinants of changes in US self-employment, 1968–1987. Small Business Economics, 1(2), 111–119.
    • (1989) Small Business Economics , vol.1 , Issue.2 , pp. 111-119
    • Evans, D.S.1    Leighton, L.S.2
  • 16
    • 85015567959 scopus 로고    scopus 로고
    • Quantifying the effect of sentiment on information diffusion in social media
    • Ferrara, E. & Yang, Z. (2015). Quantifying the effect of sentiment on information diffusion in social media. PeerJ Computer Science, 1, e26.
    • (2015) PeerJ Computer Science , vol.1
    • Ferrara, E.1    Yang, Z.2
  • 17
    • 33845699841 scopus 로고    scopus 로고
    • The good, the bad, and the unfamiliar: The challenges of reputation formation facing new firms
    • Fischer, E. & Reuber, R. (2007). The good, the bad, and the unfamiliar: The challenges of reputation formation facing new firms. Entrepreneurship Theory and Practice, 31(1), 53–75.
    • (2007) Entrepreneurship Theory and Practice , vol.31 , Issue.1 , pp. 53-75
    • Fischer, E.1    Reuber, R.2
  • 20
    • 0037304134 scopus 로고    scopus 로고
    • Which ties matter when? The contingent effects of interorganizational partnerships on IPO success
    • Gulati, R. & Higgins, M.C. (2003). Which ties matter when? The contingent effects of interorganizational partnerships on IPO success. Strategic Management Journal, 24(2), 127–144.
    • (2003) Strategic Management Journal , vol.24 , Issue.2 , pp. 127-144
    • Gulati, R.1    Higgins, M.C.2
  • 22
    • 0012319054 scopus 로고    scopus 로고
    • Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature
    • Healy, P.M. & Palepu, K.G. (2001). Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of Accounting and Economics, 31(1), 405–440.
    • (2001) Journal of Accounting and Economics , vol.31 , Issue.1 , pp. 405-440
    • Healy, P.M.1    Palepu, K.G.2
  • 23
    • 0001766028 scopus 로고
    • The common structure of statistical models of truncation, sample selection and limited dependent variables and a simple estimator for such models
    • In S. V. Berg (Ed.),, (number 4,). Cambridge, MA National Bureau of Economic Research
    • Heckman, J.J. (1976). The common structure of statistical models of truncation, sample selection and limited dependent variables and a simple estimator for such models. In S. V. Berg (Ed.), Annals of economic and social measurement (Volume 5, number 4, pp. 475–492). Cambridge, MA: National Bureau of Economic Research.
    • (1976) Annals of economic and social measurement , vol.5 , pp. 475-492
    • Heckman, J.J.1
  • 24
    • 0013118760 scopus 로고    scopus 로고
    • Venture capital and the professionalization of start-up firms: Empirical evidence
    • Hellmann, T. & Puri, M. (2002). Venture capital and the professionalization of start-up firms: Empirical evidence. The Journal of Finance, 57(1), 169–197.
    • (2002) The Journal of Finance , vol.57 , Issue.1 , pp. 169-197
    • Hellmann, T.1    Puri, M.2
  • 25
    • 33947509685 scopus 로고    scopus 로고
    • The use of logit and probit models in strategic management research: Critical issues
    • Hoetker, G. (2007). The use of logit and probit models in strategic management research: Critical issues. Strategic Management Journal, 28(4), 331–343.
    • (2007) Strategic Management Journal , vol.28 , Issue.4 , pp. 331-343
    • Hoetker, G.1
  • 26
    • 4344630945 scopus 로고    scopus 로고
    • What do entrepreneurs pay for venture capital affiliation?
    • Hsu, D.H. (2004). What do entrepreneurs pay for venture capital affiliation? The Journal of Finance, 59(4), 1805–1844.
    • (2004) The Journal of Finance , vol.59 , Issue.4 , pp. 1805-1844
    • Hsu, D.H.1
  • 27
    • 33644685604 scopus 로고    scopus 로고
    • Venture capitalists and cooperative start-up commercialization strategy
    • Hsu, D.H. (2006). Venture capitalists and cooperative start-up commercialization strategy. Management Science, 52(2), 204–219.
    • (2006) Management Science , vol.52 , Issue.2 , pp. 204-219
    • Hsu, D.H.1
  • 28
    • 34249320473 scopus 로고    scopus 로고
    • Experienced entrepreneurial founders, organizational capital, and venture capital funding
    • Hsu, D.H. (2007). Experienced entrepreneurial founders, organizational capital, and venture capital funding. Research Policy, 36(5), 722–741.
    • (2007) Research Policy , vol.36 , Issue.5 , pp. 722-741
    • Hsu, D.H.1
  • 29
    • 84878279661 scopus 로고    scopus 로고
    • Resources as dual sources of advantage: Implications for valuing entrepreneurial-firm patents
    • Hsu, D.H. & Ziedonis, R.H. (2013). Resources as dual sources of advantage: Implications for valuing entrepreneurial-firm patents. Strategic Management Journal, 34(7), 761–781.
    • (2013) Strategic Management Journal , vol.34 , Issue.7 , pp. 761-781
    • Hsu, D.H.1    Ziedonis, R.H.2
  • 31
    • 6344230194 scopus 로고    scopus 로고
    • Characteristics, contracts, and actions: Evidence from venture capitalist analyses
    • Kaplan, S.N. & Strömberg, P.E. (2004). Characteristics, contracts, and actions: Evidence from venture capitalist analyses. The Journal of Finance, 59(5), 2177–2210.
    • (2004) The Journal of Finance , vol.59 , Issue.5 , pp. 2177-2210
    • Kaplan, S.N.1    Strömberg, P.E.2
  • 32
    • 32644462960 scopus 로고    scopus 로고
    • The strategic use of decentralized institutions: Exploring certification with the ISO 14001 management standard
    • King, A.A., Lenox, M.J., & Terlaak, A. (2005). The strategic use of decentralized institutions: Exploring certification with the ISO 14001 management standard. Academy of Management Journal, 48(6), 1091–1106.
    • (2005) Academy of Management Journal , vol.48 , Issue.6 , pp. 1091-1106
    • King, A.A.1    Lenox, M.J.2    Terlaak, A.3
  • 33
    • 0034553083 scopus 로고    scopus 로고
    • Assessing the contribution of venture capital to innovation
    • Kortum, S. & Lerner, J. (2000). Assessing the contribution of venture capital to innovation. RAND Journal of Economics, 31(4), 674–692.
    • (2000) RAND Journal of Economics , vol.31 , Issue.4 , pp. 674-692
    • Kortum, S.1    Lerner, J.2
  • 34
    • 84975105500 scopus 로고    scopus 로고
    • Crowdfunding creative ideas: The dynamics of project backers in Kickstarter
    • or, accessed 12 November 2015
    • Kuppuswamy, V. & Bayus, B.L. (2014). Crowdfunding creative ideas: The dynamics of project backers in Kickstarter. UNC Kenan-Flagler Research Paper (2013–15). Available at https://ssrn.com/abstract=2234765 or http://dx.doi.org/10.2139/ssrn.2234765, accessed 12 November 2015.
    • (2014) UNC Kenan-Flagler Research Paper (2013–15)
    • Kuppuswamy, V.1    Bayus, B.L.2
  • 35
    • 21344491476 scopus 로고
    • The importance of patent scope: An empirical analysis
    • Lerner, J. (1994). The importance of patent scope: An empirical analysis. The RAND Journal of Economics, 25(2), 319–333.
    • (1994) The RAND Journal of Economics , vol.25 , Issue.2 , pp. 319-333
    • Lerner, J.1
  • 36
    • 84884280899 scopus 로고    scopus 로고
    • Venture capitalists' decision to withdraw: The role of portfolio configuration from a real options lens
    • Li, Y. & Chi, T. (2013). Venture capitalists' decision to withdraw: The role of portfolio configuration from a real options lens. Strategic Management Journal, 34(11), 1351–1366.
    • (2013) Strategic Management Journal , vol.34 , Issue.11 , pp. 1351-1366
    • Li, Y.1    Chi, T.2
  • 37
    • 84891788717 scopus 로고    scopus 로고
    • Research commentary-too big to fail: Large samples and the p-value problem
    • Lin, M., Lucas, H.C., Jr., & Shmueli, G. (2013). Research commentary-too big to fail: Large samples and the p-value problem. Information Systems Research, 24(4), 906–917.
    • (2013) Information Systems Research , vol.24 , Issue.4 , pp. 906-917
    • Lin, M.1    Lucas, H.C.2    Shmueli, G.3
  • 38
    • 84455174075 scopus 로고    scopus 로고
    • Web based social and environmental communication in the Australian minerals industry: An application of media richness framework
    • Lodhia, S. (2012). Web based social and environmental communication in the Australian minerals industry: An application of media richness framework. Journal of Cleaner Production, 25, 73–85.
    • (2012) Journal of Cleaner Production , vol.25 , pp. 73-85
    • Lodhia, S.1
  • 39
    • 33846889536 scopus 로고    scopus 로고
    • Patents, venture capital, and software start-ups
    • Mann, R.J. & Sager, T.W. (2007). Patents, venture capital, and software start-ups. Research Policy, 36(2), 193–208.
    • (2007) Research Policy , vol.36 , Issue.2 , pp. 193-208
    • Mann, R.J.1    Sager, T.W.2
  • 42
    • 84887164772 scopus 로고    scopus 로고
    • The dynamics of crowdfunding: An exploratory study
    • Mollick, E. (2014). The dynamics of crowdfunding: An exploratory study. Journal of Business Venturing, 29(1), 1–16.
    • (2014) Journal of Business Venturing , vol.29 , Issue.1 , pp. 1-16
    • Mollick, E.1
  • 43
  • 44
    • 84975132881 scopus 로고    scopus 로고
    • Wisdom or madness? Comparing crowds with expert evaluation in funding the arts
    • Mollick, E. & Nanda, R. (2015). Wisdom or madness? Comparing crowds with expert evaluation in funding the arts. Management Science, 62(6), 1533–1553.
    • (2015) Management Science , vol.62 , Issue.6 , pp. 1533-1553
    • Mollick, E.1    Nanda, R.2
  • 45
    • 77649111353 scopus 로고    scopus 로고
    • What makes a helpful review
    • A study of customer reviews on
    • Mudambi, S.M. & Schuff, D. (2010). What makes a helpful review? A study of customer reviews on Amazon.com. MIS Quarterly, 34(1), 185–200.
    • (2010) MIS Quarterly , vol.34 , Issue.1 , pp. 185-200
    • Mudambi, S.M.1    Schuff, D.2
  • 46
    • 84943010114 scopus 로고    scopus 로고
    • Venture capital reputation and investment performance
    • Nahata, R. (2008). Venture capital reputation and investment performance. Journal of Financial Economics, 90(2), 127–151.
    • (2008) Journal of Financial Economics , vol.90 , Issue.2 , pp. 127-151
    • Nahata, R.1
  • 49
    • 84880310796 scopus 로고    scopus 로고
    • Signals across multiple networks: How venture capital and alliance networks affect interorganizational collaboration
    • Ozmel, U., Reuer, J.J., & Gulati, R. (2013). Signals across multiple networks: How venture capital and alliance networks affect interorganizational collaboration. Academy of Management Journal, 56(3), 852–866.
    • (2013) Academy of Management Journal , vol.56 , Issue.3 , pp. 852-866
    • Ozmel, U.1    Reuer, J.J.2    Gulati, R.3
  • 51
    • 84990944484 scopus 로고    scopus 로고
    • Better together? Signaling interactions in new venture pursuit of initial external capital
    • Plummer, L.A., Allison, T.H., & Connelly, B.L. (2015). Better together? Signaling interactions in new venture pursuit of initial external capital. Academy of Management Journal, 59(5), 1585–1604.
    • (2015) Academy of Management Journal , vol.59 , Issue.5 , pp. 1585-1604
    • Plummer, L.A.1    Allison, T.H.2    Connelly, B.L.3
  • 52
    • 49749137120 scopus 로고
    • A status-based model of market competition
    • Podolny, J.M. (1993). A status-based model of market competition. American Journal of Sociology, 98(4), 829–872.
    • (1993) American Journal of Sociology , vol.98 , Issue.4 , pp. 829-872
    • Podolny, J.M.1
  • 53
    • 84937301999 scopus 로고
    • Market uncertainty and the social character of economic exchange
    • Podolny, J.M. (1994). Market uncertainty and the social character of economic exchange. Administrative Science Quarterly, 39(3), 458–483.
    • (1994) Administrative Science Quarterly , vol.39 , Issue.3 , pp. 458-483
    • Podolny, J.M.1
  • 54
    • 70449638640 scopus 로고    scopus 로고
    • How much prestige is enough? Assessing the value of multiple types of high-status affiliates for young firms
    • Pollock, T.G., Chen, G., Jackson, E.M., & Hambrick, D.C. (2010). How much prestige is enough? Assessing the value of multiple types of high-status affiliates for young firms. Journal of Business Venturing, 25(1), 6–23.
    • (2010) Journal of Business Venturing , vol.25 , Issue.1 , pp. 6-23
    • Pollock, T.G.1    Chen, G.2    Jackson, E.M.3    Hambrick, D.C.4
  • 56
    • 84862230492 scopus 로고    scopus 로고
    • A signaling theory of acquisition premiums: Evidence from IPO targets
    • Reuer, J.J., Tong, T.W., & Wu, C.W. (2012). A signaling theory of acquisition premiums: Evidence from IPO targets. Academy of Management Journal, 55(3), 667–683.
    • (2012) Academy of Management Journal , vol.55 , Issue.3 , pp. 667-683
    • Reuer, J.J.1    Tong, T.W.2    Wu, C.W.3
  • 57
    • 84993726007 scopus 로고    scopus 로고
    • Standing out: How new firms in emerging markets build reputation
    • Rindova, V.P., Petkova, A.P., & Kotha, S. (2007). Standing out: How new firms in emerging markets build reputation. Strategic Organization, 5(1), 31–70.
    • (2007) Strategic Organization , vol.5 , Issue.1 , pp. 31-70
    • Rindova, V.P.1    Petkova, A.P.2    Kotha, S.3
  • 58
    • 53849120575 scopus 로고    scopus 로고
    • To be or not to be trusted: The influence of media richness on defection and deception
    • Rockmann, K.W. & Northcraft, G.B. (2008). To be or not to be trusted: The influence of media richness on defection and deception. Organizational Behavior and Human Decision Processes, 107(2), 106–122.
    • (2008) Organizational Behavior and Human Decision Processes , vol.107 , Issue.2 , pp. 106-122
    • Rockmann, K.W.1    Northcraft, G.B.2
  • 59
    • 0742268559 scopus 로고    scopus 로고
    • Sorting things out: Valuation of new firms in uncertain markets
    • Sanders, W. & Boivie, S. (2004). Sorting things out: Valuation of new firms in uncertain markets. Strategic Management Journal, 25(2), 167–186.
    • (2004) Strategic Management Journal , vol.25 , Issue.2 , pp. 167-186
    • Sanders, W.1    Boivie, S.2
  • 60
    • 0036493063 scopus 로고    scopus 로고
    • Network ties, reputation, and the financing of new ventures
    • Shane, S. & Cable, D. (2002). Network ties, reputation, and the financing of new ventures. Management Science, 48(3), 364–381.
    • (2002) Management Science , vol.48 , Issue.3 , pp. 364-381
    • Shane, S.1    Cable, D.2
  • 62
    • 0037893445 scopus 로고    scopus 로고
    • Signaling in retrospect and the informational structure of markets
    • Spence, A.M. (2002). Signaling in retrospect and the informational structure of markets. The American Economic Review, 92(3), 434–459.
    • (2002) The American Economic Review , vol.92 , Issue.3 , pp. 434-459
    • Spence, A.M.1
  • 64
    • 84880193020 scopus 로고    scopus 로고
    • Emotions and information diffusion in social media—Sentiment of microblogs and sharing behavior
    • Stieglitz, S. & Dang-Xuan, L. (2013). Emotions and information diffusion in social media—Sentiment of microblogs and sharing behavior. Journal of Management Information Systems, 29(4), 217–248. doi:10.2753/MIS0742-1222290408
    • (2013) Journal of Management Information Systems , vol.29 , Issue.4 , pp. 217-248
    • Stieglitz, S.1    Dang-Xuan, L.2
  • 65
    • 0039842605 scopus 로고    scopus 로고
    • The contributions of the economics of information to twentieth century economics
    • Stiglitz, J.E. (2000). The contributions of the economics of information to twentieth century economics. Quarterly Journal of Economics, 115(4), 1441–1478.
    • (2000) Quarterly Journal of Economics , vol.115 , Issue.4 , pp. 1441-1478
    • Stiglitz, J.E.1
  • 66
    • 0033243272 scopus 로고    scopus 로고
    • Interorganizational endorsements and the performance of entrepreneurial ventures
    • Stuart, T.E., Hoang, H., & Hybels, R.C. (1999). Interorganizational endorsements and the performance of entrepreneurial ventures. Administrative Science Quarterly, 44(2), 315–349.
    • (1999) Administrative Science Quarterly , vol.44 , Issue.2 , pp. 315-349
    • Stuart, T.E.1    Hoang, H.2    Hybels, R.C.3
  • 67
    • 34248673163 scopus 로고    scopus 로고
    • The design of instructional multimedia in e-learning: A media richness theory-based approach
    • Sun, P.C. & Cheng, H.K. (2007). The design of instructional multimedia in e-learning: A media richness theory-based approach. Computers & Education, 49(3), 662–676.
    • (2007) Computers & Education , vol.49 , Issue.3 , pp. 662-676
    • Sun, P.C.1    Cheng, H.K.2
  • 70
    • 77949527085 scopus 로고    scopus 로고
    • Impact of online consumer reviews on sales: The moderating role of product and consumer characteristics
    • Zhu, F. & Zhang, X. (2010). Impact of online consumer reviews on sales: The moderating role of product and consumer characteristics. Journal of Marketing, 74(2), 133–148.
    • (2010) Journal of Marketing , vol.74 , Issue.2 , pp. 133-148
    • Zhu, F.1    Zhang, X.2
  • 71
    • 0033092649 scopus 로고    scopus 로고
    • The categorical imperative: Securities analysts and the illegitimacy discount
    • Zuckerman, E.W. (1999). The categorical imperative: Securities analysts and the illegitimacy discount. American Journal of Sociology, 104(5), 1398–1438.
    • (1999) American Journal of Sociology , vol.104 , Issue.5 , pp. 1398-1438
    • Zuckerman, E.W.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.