Yang Hongtao, Zhang Lei, Wu Yenchun Jim, Shi Hangyu, Xie Shuting
School of Business Administration, Huaqiao University, Quanzhou, China.
Graduate Institute of Global Business and Strategy, National Taiwan Normal University, Taipei, Taiwan.
Front Psychol. 2021 Apr 1;12:633771. doi: 10.3389/fpsyg.2021.633771. eCollection 2021.
The effectiveness of trust has been extensively investigated in entrepreneurship studies. However, compared to the outcomes of trust, we still lack knowledge about the mechanisms underlying venture capitalists' initial trust in entrepreneurs. Drawing from signal theory and impression management theory, this study explores an impression management motivational explanation for the influencing factors of venture capitalists' initial trust. An empirical test is based on 202 valid questionnaires from venture capitalists, and the results indicate that the signal of five dimensions of entrepreneurial orientation has a significant impact on the initial trust of venture capitalists and that a signal of entrepreneurial orientation of perseverance or passion positively influences venture capitalists' initial trust through acquired impression management strategies, while a signal of entrepreneurial orientation of risk-taking, innovation, or proactivity positively affects the initial trust of venture capitalists through defensive impression management strategies. The perceptions of entrepreneurs' hypocrisy by venture capitalists negatively moderate the relationship between acquired impression management strategies and the initial trust of venture capitalists and negatively moderate the relationship between defensive impression management strategies and the initial trust of venture capitalists.
信任的有效性在创业研究中已得到广泛调查。然而，与信任的结果相比，我们仍然缺乏对风险投资家对企业家初始信任背后机制的了解。本研究借鉴信号理论和印象管理理论，探索了风险投资家初始信任影响因素的印象管理动机解释。实证检验基于来自风险投资家的202份有效问卷，结果表明创业导向五个维度的信号对风险投资家的初始信任有显著影响，坚持或热情的创业导向信号通过获得性印象管理策略对风险投资家的初始信任产生积极影响，而冒险、创新或积极主动的创业导向信号通过防御性印象管理策略对风险投资家的初始信任产生积极影响。风险投资家对企业家虚伪的认知对获得性印象管理策略与风险投资家初始信任之间的关系起负向调节作用，对防御性印象管理策略与风险投资家初始信任之间的关系也起负向调节作用。
