Hybrid Vigor: Securing Venture Capital by Spanning Categories in Nanotechnology

dc.contributor.authorWry, Tyler
dc.contributor.authorLounsbury, Michael
dc.contributor.authorJennings, P. D
dc.date2023-05-17T20:19:51.000
dc.date.accessioned2023-05-22T23:55:08Z
dc.date.available2023-05-22T23:55:08Z
dc.date.issued2014-10-01
dc.date.submitted2018-07-03T12:27:15-07:00
dc.description.abstractThis study develops and tests a set of novel theoretical predictions about the conditions under which category spanning is rewarded by external audiences. To do this, we revisit the assumption that comprehensible organizational identities are associated with individual categories. Drawing on insights from cognitive psychology, we suggest that category spanning does not necessarily lead to confusion, but, rather, to interpretations that rely on a “header–modifier” structure where one category anchors cognition but is modified by features of the other. Audiences may have clear understandings about how categories fit together and cognate schema for evaluating firms that hybridize by spanning between them. An empirical examination of venture capital in the carbon nanotechnology industry supports our approach: start-ups were rewarded or punished for hybridization contingent on how they mixed “science” and “technology” in their patents, top management team, and collaborations. As such, we show that the category a firm starts in, how it hybridizes, and the degree to which this affects core versus peripheral identity markers may all affect how it is perceived.
dc.identifier.urihttps://repository.upenn.edu/handle/20.500.14332/40481
dc.legacy.articleid1335
dc.legacy.fields10.5465/amj.2011.0588
dc.legacy.fulltexturlhttps://repository.upenn.edu/cgi/viewcontent.cgi?article=1335&context=mgmt_papers&unstamped=1
dc.rightsOriginally published in the Academy of Management Journal © 2014 Academy of Management This is a pre-publication version. The final version is available at http://dx.doi.org/10.5465/amj.2011.0588
dc.source.beginpage1309
dc.source.endpage1333
dc.source.issue331
dc.source.issue5
dc.source.journalManagement Papers
dc.source.journaltitleAcademy of Management Journal
dc.source.peerreviewedtrue
dc.source.statuspublished
dc.source.volume57
dc.subject.othercategories
dc.subject.otherhybridization
dc.subject.otherventure capital
dc.subject.otherBusiness Administration, Management, and Operations
dc.subject.otherBusiness Analytics
dc.subject.otherBusiness Intelligence
dc.subject.otherCorporate Finance
dc.subject.otherFinance and Financial Management
dc.subject.otherManagement Information Systems
dc.subject.otherManagement Sciences and Quantitative Methods
dc.subject.otherOrganizational Behavior and Theory
dc.subject.otherStrategic Management Policy
dc.titleHybrid Vigor: Securing Venture Capital by Spanning Categories in Nanotechnology
dc.typeArticle
digcom.contributor.authorWry, Tyler
digcom.contributor.authorLounsbury, Michael
digcom.contributor.authorJennings, P. D
digcom.identifiermgmt_papers/331
digcom.identifier.contextkey12437013
digcom.identifier.submissionpathmgmt_papers/331
digcom.typearticle
dspace.entity.typePublication
upenn.schoolDepartmentCenterManagement Papers
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