Market Watch: Information and Availability Cascades Among the Media and Investors in the U.S. IPO Market

Pollock, Timothy G.; Rindova, Violina P.; Maggitti, Patrick G.

doi:10.5465/amj.2008.31767275

Cited by 262 publications

(209 citation statements)

References 108 publications

(167 reference statements)

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“…Although VCFs specialize in making investments in highly promising but highly uncertain growth industries, even for these fi rms the early days of Internet commercialization were extraordinarily novel (Aldrich and Baker, 2001). While all IPOs are uncertain (Pollock and Rindova, 2003;Pollock, Rindova and Maggitti, 2008;Ritter and Welch, 2002), the level of uncertainty surrounding an IPO was magnifi ed for Internet sector fi rms, especially during the mid-to late-1990s when fi rms were going public at an unprecedented rate and at a younger age than had previously been typical. Many fi rms were going public with untried business models and limited revenue streams.…”

Section: Founder-ceo Retention Decisions In a New Industry Contextmentioning

confidence: 99%

Dance with the one that brought you? Venture capital firms and the retention of founder‐CEOs

Pollock

Fund

Baker

2009

Strategic Entrepreneurship

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We consider how a venture capital fi rm's perceived uncertainty in new and uncertain industry environments affects its decisions to retain founder-CEOs at companies they take public. We further consider how the human capital of the founder-CEO, the overall experience of the venture capital fi rm (VCF), and the VCF's specifi c experience with the new industry moderate the relationship between industry-based uncertainty and founder-CEO retention. We explore these issues in the context of 340 venture capital fi rm investments in Internet sector start-ups that went public from 1995 to 2000. We fi nd evidence that industry-based uncertainty decreases the likelihood of founder-CEO retention, that founder-CEO human capital and VCF Internetsector experience decreases the effects of these uncertainties on founder-CEO retention for business-to-business (B2B) fi rms, but increases them for business-to consumer (B2C) fi rms,and that VCF age further decreases the likelihood that the founder-CEOs of B2C fi rms will be retained.

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Section: Founder-ceo Retention Decisions In a New Industry Contextmentioning

confidence: 99%

Dance with the one that brought you? Venture capital firms and the retention of founder‐CEOs

Pollock

Fund

Baker

2009

Strategic Entrepreneurship

Self Cite

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“…Prior research has found that media coverage can significantly affect public opinion on firms' actions (Pollock & Rindova, 2003;Pollock, Rindova, & Maggitti, 2008). Hence, we controlled for a firm's public advocacy in favor of GMO approval by counting the number of press releases that biotechnology firms generate about products they submit for USDA approval (firm press releases).…”

Section: Patent Applicants Often List Similar Prior Inventions To Demmentioning

confidence: 99%

Lords of the Harvest: Third-Party Influence and Regulatory Approval of Genetically Modified Organisms

Hiatt

Park

2013

AMJ

161

109

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Little is known about the factors that influence regulatory-agency decision making. We posit that regulatory agencies are influenced by the firms they regulate, but not exclusively via dyadic exchanges as is traditionally argued in the regulatory capture and business-government literatures. Instead, regulatory decisions are indirectly shaped via third-party actors who shield agencies from legitimacy threats. Focusing empirically on the U.S. Department of Agriculture's approval of genetically modified organisms (GMOs), we find that product assessments by powerful stakeholders and peer agencies influence product approval and that their effects vary under different threats. We also discuss the implications of these findings for businessgovernment relations, nonmarket strategy, and organization theory.

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“…Accordingly, we propose that the extent to which an actor interacts with other audiences provides a source of information to a focal audience beyond the actor's audiencespecific reputation. Some studies have directly examined the implications of inter-audience information spillover (e.g., Pollock, Rindova, & Maggitti, 2008). For example, actors who are well established with one audience may leverage their intangible assets to obtain advantages with another audience (Jensen, 2003).…”

Section: Hypothesis 2: the (Positive) Contingent Effect Of An Actor'smentioning

confidence: 99%

“…For example, Pollock et al (2008) argue that there is a positive information spillover between different audiences when audiences follow one another to gain information.…”

Section: Theoretical Contributionsmentioning

confidence: 99%

The Art of Representation: How Audience-specific Reputations Affect Success in the Contemporary Art Field

Ertug

Yogev

Lee

et al. 2016

AMJ

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AcknowledgmentWe would like to thank Tim Pollock and the three anonymous reviewers for their excellent suggestions and guidance. We would also like to thank Martin Gargiulo, Matteo Prato, Heeyon Kim, Abhijith G. Acharya, Fabrizio Castellucci, Yi Tang, and Francois Collet for their valuable feedback, as well as participants at presentations at the Oxford University Centre for Corporate Reputation and at Singapore Management University. We would also like to express our gratitude for the financial support we have received from the Oxford University Centre for Corporate Reputation. The research leading to these results has received funding from the European Research 2 THE ART OF REPRESENTATION: HOW AUDIENCE-SPECIFIC REPUTATIONS AFFECT SUCCESS IN THE CONTEMPORARY ART FIELD ABSTRACTWe study the effects of actors' audience-specific reputations on their levels of success with different audiences in the same field. Extending recent work that has emphasized the presence of multiple audiences with different concerns, we demonstrate that considering audience specificity leads to an improved understanding of reputation effects. Using data on emerging artists in the field of contemporary art from 2001 to 2010, we investigate the manner in which artists' audience-specific reputations affect their subsequent success with two distinct audiences: museums and galleries. Our findings suggest that audience-specific reputations have systematically different effects with respect to success with museums and galleries. Our findings also illuminate the extent to which audience-specific reputations are relevant for emerging research on the contingent effects of reputation. In particular, our findings support our predictions that audiences differ from one another in terms of the extent to which other signals (specifically, status and interaction with other audiences) enhance or reduce the value of audience-specific reputations. Our study thus advances theory by providing empirical evidence for the value of incorporating audience-specific reputations into the general study of reputation.3

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Market Watch: Information and Availability Cascades Among the Media and Investors in the U.S. IPO Market

Cited by 262 publications

References 108 publications

Dance with the one that brought you? Venture capital firms and the retention of founder‐CEOs

Dance with the one that brought you? Venture capital firms and the retention of founder‐CEOs

Lords of the Harvest: Third-Party Influence and Regulatory Approval of Genetically Modified Organisms

The Art of Representation: How Audience-specific Reputations Affect Success in the Contemporary Art Field

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