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 language | English |
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Title of host publication | AOM Annual Meeting Proceedings 2021 |
DOIs | |
Publication status | Published - Aug 2021 |
Event | Academy of Management Annual Conference - Virtual Duration: 29 Jul 2021 → 4 Aug 2021 https://aom.org/events/annual-meeting |
Conference
Conference | Academy of Management Annual Conference |
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Period | 29/07/21 → 4/08/21 |
Internet address |