Abstract
Original language | English |
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Publication date | 13 Aug 2019 |
Number of pages | 1 |
Publication status | Published - 13 Aug 2019 |
Event | The Academy of Management Annual Meeting 2019: Understanding the Inclusive Organization - Boston, United States Duration: 9 Aug 2019 → 13 Aug 2019 Conference number: 79 http://aom.org/annualmeeting/ |
Conference
Conference | The Academy of Management Annual Meeting 2019 |
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Number | 79 |
Country | United States |
City | Boston |
Period | 09/08/2019 → 13/08/2019 |
Internet address |
Bibliographical note
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Learning to Raise Money : How and When Entrepreneurs Learn from Failed Crowdfunding Campaigns. / Piening, Erk Peter; Thies, Ferdinand; Wessel, Michael; Benlian, Alexander.
2019. Abstract from The Academy of Management Annual Meeting 2019, Boston, United States.Research output: Contribution to conference › Conference abstract for conference › Research › peer-review
TY - ABST
T1 - Learning to Raise Money
T2 - How and When Entrepreneurs Learn from Failed Crowdfunding Campaigns
AU - Piening, Erk Peter
AU - Thies, Ferdinand
AU - Wessel, Michael
AU - Benlian, Alexander
N1 - CBS Library does not have access to the material
PY - 2019/8/13
Y1 - 2019/8/13
N2 - The ability to learn from failure is of utmost importance to individuals, teams, and organizations. Yet, evidence suggests that organizational actors often ignore failures, struggle to understand their underlying causes, and ultimately fail to learn. Despite considerable scholarly attention devoted to this issue, our understanding of learning from failure and specifically the processes that may explain heterogeneity in learning outcomes remains incomplete. Based on the behavioral theory of the firm, we therefore examine the linkages between failure experiences, learning behaviors (i.e., explorative and exploitative learning), and learning outcomes. Using a comprehensive dataset of 62,532 crowdfunding projects, we map the learning trajectories of serial crowdfunders over time and show how their responses to project failure influence the success of their subsequent crowdfunding ventures. Our results demonstrate that failure and success trigger distinct learning processes – while failure is positively related to exploration, success increases the likelihood of exploitation. In turn, we find that exploration is negatively and exploitation positively related to future crowdfunding success. Moreover, we find some support for our assumption that temporal and social factors act as moderators influencing how entrepreneurs respond to performance feedback.
AB - The ability to learn from failure is of utmost importance to individuals, teams, and organizations. Yet, evidence suggests that organizational actors often ignore failures, struggle to understand their underlying causes, and ultimately fail to learn. Despite considerable scholarly attention devoted to this issue, our understanding of learning from failure and specifically the processes that may explain heterogeneity in learning outcomes remains incomplete. Based on the behavioral theory of the firm, we therefore examine the linkages between failure experiences, learning behaviors (i.e., explorative and exploitative learning), and learning outcomes. Using a comprehensive dataset of 62,532 crowdfunding projects, we map the learning trajectories of serial crowdfunders over time and show how their responses to project failure influence the success of their subsequent crowdfunding ventures. Our results demonstrate that failure and success trigger distinct learning processes – while failure is positively related to exploration, success increases the likelihood of exploitation. In turn, we find that exploration is negatively and exploitation positively related to future crowdfunding success. Moreover, we find some support for our assumption that temporal and social factors act as moderators influencing how entrepreneurs respond to performance feedback.
M3 - Conference abstract for conference
ER -