Suchergebnisse

Syndication among venture capital firms (VCFs) is increasingly prevailing in recent years, especially in emerging markets like China. Some of the VCFs have to syndicate with "worse performers" despite the "better performer preference." The primary aim of this article is to contribute to our understanding of the impact performance gap among syndicated VCFs on formulation and duration of syndicate. The data consist of over 295,000 pair of VCFs syndicated in China mainland from 2000 to 2020. We find the negative effect of performance gap on the propensity of syndication with self-categorization of VCFs as the moderator. The key contribution of this paper is to test the significance of homogenous performance in syndication. This study advances the knowledge of agency in collaboration and sheds new light on organizational performance feedback in venture capital markets.

Cross-border venture capitals (CBVCs) are increasingly prevailing in recent decades, inter alia in emerging markets like China. The venture capital (VC) firms investing outside their home countries are faced with foreignness which is broadly regarded as liability. The primary aim of this article is to contribute to our understanding how foreignness affects VC's strategy when entering emerging markets, particularly with respect to the foreignness originated from cultural distance. The data consist of over 5,000 CBVC deals taking place in China mainland from 1988 to 2016. Our empirical study shows that, with foreignness growing, it turns from liability into advantage in the context of CBVCs. We find an inverse U-shape relationship between foreignness and syndication, with VC firm's reputation as the moderator. Besides, foreign VC firms establish local subsidiary when faced with foreignness, which serves as alternative to syndication. The key contribution of this article is that foreignness turns from liability into advantage in emerging markets, which exerts a curvilinear impact on the entry strategy of VC firms. This study advances the knowledge of foreignness and VC strategy, and sheds new light on entrepreneurial activities in emerging markets.

This study examines how consumers navigate their spiritual needs for transcendence in everyday consumption. While extant literature shows that both spiritual utilities and tensions emerge in sacred consumption, we build on and extend this research by illuminating how consumers navigate sacralisation and problematise profane consumption objects and practices. We employed Mary Douglas's pollution theory to examine how consumers navigate cultural meanings of purity and transgressions. Through a qualitative study of vegan fashion consumption, we found that consumers negotiate the meaning of purity to govern everyday consumption practices in ways that resemble characteristics of religious institutions (e.g. faith and doctrines). Vegan consumers tolerate consumption transgressions through practices and rituals to sustain their faith within what is regarded as a polluted marketplace. Our study contributes to a novel perspective on consumer spirituality in regulating sacred and secular consumption and moralising relationships with the material world.

The aim in this study was to examine whether contingency of domain self-esteem moderates the effect of domain self-esteem on global self-esteem. Chinese university students (N = 320) completed the Contingencies of Self-worth Scale and the Self-worth Questionnaire (both by Yang,
Hu, Pang, & Wang, 2007) and the Chinese version (Robinson, Shaver, & Wrightsman, 1997) of the Rosenberg Self-esteem Scale (Rosenberg, 1965). Results indicated that in domains that the individual could control, such as ability or behavior style, domain self-esteem directly influenced
global self-esteem; in domains that the individual could not control, such as appearance and nationality, contingency of domain self-esteem moderated the effect of domain self-esteem on global self-esteem. Cultural differences in contingencies of domain self-esteem are also discussed.

The relationship between the work values and personality of Chinese college students is examined. Qualitative methods were employed to develop work values scale is examined to assess the work values of Chinese college students. A total of 661 students completed a 25-item work values
questionnaire and 238 students also completed the Chinese Personality Scale (QZPS; Wang & Cui, 2003). Factor analysis indicated a coherent model, including 5 factors of challenge, personal worth, equitable opportunity, social status and work conditions. Regression analysis indicated that
individual worth was associated with ways of life and kindness, and that social status was associated with ways of life.