Research Seminar
[Brown Bag] Curse or Blessing? A Dynamic Exemplar-Based Model on Investor Evaluation of New Ventures in a Nascent Market by Prof. Qian (Cecilia) GU, Robinson College of Business, Georgia State University
| Abstract: | Abstract: The crucial role of exemplars in shaping the competitive environment and strategic positioning of new ventures has been well acknowledged. However, the impact of similarity to emerging exemplars within a nascent category on investor valuations remains unclear. To address this gap, we develop a dynamic exemplar-based model that integrates the continuous emergence of exemplars and their multidimensional strategic features. Leveraging the Bidirectional Encoder Representations from Transformers (BERT), we analyze new ventures backed by venture capital (VC) firms in China’s burgeoning Internet sector from 1999 to 2015. Our findings reveal that a moderate level of innovation-based and marketing-based exemplar similarity is both associated with the highest likelihood of receiving VC investments. Furthermore, we find that the effect of innovation-based exemplar similarity is more pronounced during the earlier stages of new venture and category development. In contrast, the impact of marketing-based exemplar similarity remains stable over time. Our study has important implications for the management literature on optimal distinctiveness, nascent category, and VC investments. |
| Date: | Nov 6 (Wed), 2024 10:30 am - 12:00 noon |
| Time: | 10:30AM - 12:00PM |
| Venue: | 7-207, Level 7, Lau Ming Wai Academic Building (LAU) |
| Details: | Speaker bio: Qian (Cecilia) Gu is an Associate Professor at the Robinson College of Business, Georgia State University. Focusing on the intersection of global strategy and entrepreneurship, her research advances the understanding of how emerging market firms navigate divergent stakeholder demands and global market dynamics, and the strategic implications on firm performance. She is currently serving as the Associate Editor for Global Strategy Journal and the Senior Editor for Management and Organization Review. Her work has appeared in top journals, including Administrative Science Quarterly, Journal of Business Venturing, Journal of International Business Studies, Organization Science, and Strategic Management Journal. She has won a number of awards for her research and teaching, such as the Poets & Quants Top 40 Under 40 Business School Professor award, John Dunning Fellowship, Top Professor Award, Best Editor and Reviewer awards, and Faculty Recognition Award. |
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