Nature and evolution of trust in business-to-business settings: Insights from VC-entrepreneur relationships

Panda, Swati; Srivastava, Saurabh; Pandey, Satyendra C.

doi:10.1016/j.indmarman.2020.09.011

Cited by 16 publications

(6 citation statements)

References 61 publications

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“…For each additional founded company, this feature granted the entrepreneur an increase in advice centrality equal to 25 percentage points, significant at the 5% level. This may be explained by the better positioning of venture capitalist firms in the industry over time, when trust is finally reciprocal (Panda et al 2020), asymmetrical information diminished (Zhang 2019), and their skills and social connections have been tested (Zhang 2011). While expertise in the biotech industry may help a company to find alternative routes and avoid failure (Hypothesis 1a), in 2008, having multiple companies, especially if some of them was losing momentum, may signal negative or non-existent epistemic authority.…”

Section: Hypothesis 1b Entrepreneurial Experience In Founding Compani...mentioning

confidence: 99%

Where Do Social Support and Epistemic Centrality Come From? The Case of Innovators in the French Biotech Industry

Pina Stranger,

Varas,

Gerard

2023

Administrative Sciences

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The link between entrepreneur’s network centrality and innovation performance has been broadly studied in knowledge-intensive industries such as biotechnology. However, little research has been focused on the social mechanisms that allow innovators to reach such a central position. We contribute to the existing literature by exploring the factors that may lead or prevent entrepreneurs from reaching a central position in their professional networks of knowledge exchange and social support in French biotech milieu. We use a unique quantitative and qualitative database of 138 and 126 biotech entrepreneurs observed, respectively, in 2008 and 2013. When accounting for entrepreneurs’ position in the social (friendship) and knowledge (advice) domain, we draw on three dimensions through which entrepreneurs build their position: their professional experience, their inter-organizational (or political) engagement, and the financial and geographical situation of their company. Results from a regression analysis showed that the specific individual and organizational aspects of the trajectory of the entrepreneurs explain their position in the observed networks. Factors such as the previous experience in the health industry, the training expertise, the international experience, the political engagement, and the geographical and financial situation of the company help entrepreneurs to build up their centrality. The two observations allow us to describe indirectly the evolution of norms that are considered legitimated to carry out innovation in the biotech field.

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Section: Hypothesis 1b Entrepreneurial Experience In Founding Compani...mentioning

confidence: 99%

Where Do Social Support and Epistemic Centrality Come From? The Case of Innovators in the French Biotech Industry

Pina Stranger,

Varas,

Gerard

2023

Administrative Sciences

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“…Trust in business-to-business relationships exists when there is confidence that others intend to act in ways to preserve the relationship (Cuevas et al, 2015). Interdisciplinary research suggests that trust influences attitudes and behaviours of involved parties by encouraging collaborative decision making (Connelly et al, 2018), leading to positive outcomes for all participants (Panda et al, 2020). Relational partners establish trustworthiness through their commitment, fairness and the sharing of information (Zacharakis and Shepherd, 2001).…”

Section: General Trust Theorymentioning

confidence: 99%

“…family, friends, community) and external funding (i.e. venture capital, government, grants) sources may be especially promising (Achbari et al, 2021;Churchill, 2017;Panda et al, 2020). Social capital, funding sources and performance.…”

Section: Theoretical Implicationsmentioning

confidence: 99%

“…High levels of trust have been shown to benefit entrepreneurs in a myriad of ways, including overcoming liabilities of newness for entrepreneurs (Welter, 2012), fostering an environment for idea-sharing for revenue creation (Zahra et al, 2006) and contributing to overall venture creation (Scarborough et al, 2013). Conversely, a lack of trust can lead individual actors restricting themselves to limited networks with the penalty of missed opportunities (Reiersen, 2017) and greater pressure to exit relationships (Panda et al, 2020). Specific to our model, trust drives social and financial capital, which are essential for collaboration between communities and entrepreneurs (Anderson and Jack, 2002; Kwon et al, 2013).…”

Section: Theoretical Framework: Trustmentioning

confidence: 99%

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The impact of trust on social and financial capital acquisition: A resource integration perspective in minority-owned entrepreneurial organisations

Pegram¹,

Clarke

Peltier

et al. 2022

International Small Business Journal: Researching Entrepreneurs

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Although effective resource integration is a critical requisite for entrepreneurial success, the literature suggests there are crucial gaps for minority entrepreneurs. We examine how interracial distrust (ID), an indicator of the extent to which minority entrepreneurs distrust other races, is related to internal and social capital. We examine the relationships of such capitals on the willingness to borrow from banks and friends, and explore the link with firm performance. Using a sample of 276 primarily African American entrepreneurs, we find support for most of our hypotheses. We find that ID is negatively associated with external social capital and a willingness to borrow from banks. Surprisingly, we found that ID had a negative effect on internal social capital and a willingness to borrow from friends. We also found that internal and external social capital was positively related to firm performance. We discuss the implications of some of these surprising research findings as well as the policy implications.

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“…Firms in this category have taken a strategic approach to technology adoption and therein, have adopted a more open approach, while having a more inward technology focus. One explanation for this is that these firms have adopted some competencies and trust that enable them to operate in such a manner (see Lee and Kim, 2018;Panda et al, 2020). Also, the late-stage entrepreneurship characteristics affords such firms the ability to adopt and pursue technology adoption in such a manner (see Lockett et al, 2008).…”

Section: Titlementioning

confidence: 99%

An Exploratory Study of High Performance Computing Technology Adoption over the Stages of Entrepreneurship

Damij¹,

Cunningham²,

Modic³

2022

IJEV

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The focus of this paper is to examine how and when technology adoption occurs over the stages of entrepreneurship. High-performance computing (HPC) includes infrastructure and applications that are used for complex computational problems and can involve supercomputers and linked clusters. HPC can contribute to industry and firm competitiveness, particularly for SMEs. Against this background, there remains a limited understanding of how and when technology adoption occurs over the stages of entrepreneurship. In addressing this deficit our exploratory study identifies how and when technology adoption occurs over the stages of entrepreneurship. Our contribution is twofold. First, we develop a taxonomy of HPC with respect to the how and when of technology adoption. Second, we identify three categories of technology adoptionemergent imitators, early adopters and growth assimilators across two stages of entrepreneurshipemergent and late-stage.

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Nature and evolution of trust in business-to-business settings: Insights from VC-entrepreneur relationships

Cited by 16 publications

References 61 publications

Where Do Social Support and Epistemic Centrality Come From? The Case of Innovators in the French Biotech Industry

Where Do Social Support and Epistemic Centrality Come From? The Case of Innovators in the French Biotech Industry

The impact of trust on social and financial capital acquisition: A resource integration perspective in minority-owned entrepreneurial organisations

An Exploratory Study of High Performance Computing Technology Adoption over the Stages of Entrepreneurship

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