Audience Expertise and Category Distances: A study in the Venture Capital Industry (2000-2017)

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

Abstract

In research on social evaluations and market categories, the extent to which audience members’ expertise dimensions – breadth and depth – influence firm valuation has been largely ignored. Furthermore, category research has overlooked the consequences of the nested disposition of categories. Using a dataset of around 29,000 venture capital deals worldwide between 2000 and 2017, we address these gaps by examining the effect of investees’ intra-category distance, beyond inter-category distance, as well as investors’ expertise breadth and depth. Our findings provide evidence that both inter- and intra-category distances positively impact valuation as that those effects are contingent on investors’ expertise breadth and depth. Our findings contribute to research on social evaluations and market categories.

Original languageEnglish
Title of host publicationAOM Annual Meeting Proceedings 2021
DOIs
Publication statusPublished - Aug 2021
EventAcademy of Management Annual Conference - Virtual
Duration: 29 Jul 20214 Aug 2021
https://aom.org/events/annual-meeting

Conference

ConferenceAcademy of Management Annual Conference
Period29/07/214/08/21
Internet address

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