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Johansson, J., Malmström, M., Wincent, J. & Parida, V. (2019). How individual cognitions overshadow regulations and group norms: a study of government venture capital decisions. Small Business Economics
Open this publication in new window or tab >>How individual cognitions overshadow regulations and group norms: a study of government venture capital decisions
2019 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913Article in journal (Refereed) Epub ahead of print
Abstract [en]

This paper explores how government venture capitalists approve or reject financing applications. Based on longitudinal observations, complemented by interviews, documentation, and secondary data, the findings show the limited influence of the regulative and normative logics (e.g., formal guidelines and accepted behavior) on government venture capitalists’ decisions. Instead, individual decisions are observed to be largely overshadowed by cognitions and heuristics, which dominate formal regulations and socially constructed group-level norms. Although official decision communications state that regulations have been followed, the evidence suggests that the cognitive logic dominates the funding decision-making process through a set of overshadowing forces that restrict the influence of the normative and regulative logics on funding decisions. This research has implications for venture financing and highlights the importance of cognitions in shaping venture capital decisions.

Place, publisher, year, edition, pages
Springer, 2019
Keywords
Government investment, Venture financing, Venture capital, Entrepreneurship, Institutional theory, Decision making
National Category
Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
urn:nbn:se:ltu:diva-76815 (URN)10.1007/s11187-019-00273-3 (DOI)
Available from: 2019-11-22 Created: 2019-11-22 Last updated: 2019-11-22
Voitkane, A., Johansson, J., Malmström, M. & Wincent, J. (2019). How much does the “same-gender effect” matter in VCs' assessments of entrepreneurs?. Journal of Business Venturing Insights, 12, Article ID e00133.
Open this publication in new window or tab >>How much does the “same-gender effect” matter in VCs' assessments of entrepreneurs?
2019 (English)In: Journal of Business Venturing Insights, ISSN 2352-6734, Vol. 12, article id e00133Article in journal (Refereed) Published
Abstract [en]

Our study uses cognitive mapping techniques to take into account how the same/opposite gender influences the cognitive evaluations of venture capitalists (VCs). Contrary to what has often been discussed in previous entrepreneurship literature, our results report women VCs evaluate women entrepreneurs more critically, and men VCs evaluate men entrepreneurs more critically. However, overall, the VCs' vaguer processing and lower rating of women's venturing compared to men's indicate a general structure of subordinating women's venturing compared to men's venturing. Ultimately, this contributes with an alternative view to explain what we see on the VC scene: women entrepreneurs are more likely to be rejected. We discuss implications of these results as well as implications for future study.

Place, publisher, year, edition, pages
Elsevier, 2019
National Category
Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
urn:nbn:se:ltu:diva-75262 (URN)10.1016/j.jbvi.2019.e00133 (DOI)2-s2.0-85067863472 (Scopus ID)
Note

Validerad;2019;Nivå 1;2019-07-09 (johcin)

Available from: 2019-07-09 Created: 2019-07-09 Last updated: 2019-08-22Bibliographically approved
Johansson, J. & Blomkvist, M. (2019). In the Bull's eye of Sell-Side Analysts Value Creation:: Beyond intermediation of information. In: : . Paper presented at European Accounting Association. Paphos, Cypros: European accounting association
Open this publication in new window or tab >>In the Bull's eye of Sell-Side Analysts Value Creation:: Beyond intermediation of information
2019 (English)Conference paper, Oral presentation with published abstract (Refereed)
Abstract [en]

Globalization and digitalization are two critical trends as game changers in the stock market that also expect to impact on the sell-side analysts’ role in front of  investors’. A relevant question to pose is whether financial analysts’ are a dying art of practice due to sophisticated digital analyses where geographical distance doesn’t matter anymore. The purpose of this paper is to increase the knowledge of the sell-side analysts’ value creation processes in the globalized and digital era. The article is based on an empirical study of 25 sell-side financial analysts and their work with value creation. Findings indicate that the social capital become even more important in the competitive game of finding unique investment opportunities. Financial analyst operating in highly competitive environments applies strategies beyond the role of merely acting as information intermediaries. There is more than enough information available while information and analyses needs to be selected and interpreted for becoming relevant and adding value for the investors’ decision making. Information need to be contextualized. The analysts’ role as facilitators in investment decision implies acting as enablers of information, generating of analyses, sense-making actors and co-creators in front of the investors. The art of developing social capital is central for bonding with the clients and to assure for future businesses. Valuable assets of social capital are made available through development of cognitive social capital, relational social capital and structural social capital. We find that analysts as a profession not is a dying art but instead is part of the game changing in stock market and that social capital is crucial for analysts role as facilitators in investors decision making processes.

Place, publisher, year, edition, pages
Paphos, Cypros: European accounting association, 2019
National Category
Social Sciences
Research subject
Entrepreneurship and Innovation
Identifiers
urn:nbn:se:ltu:diva-76334 (URN)
Conference
European Accounting Association
Note

http://www.eaa2019.eaacongress.org/r/Scientific_Programme_Paphos

Available from: 2019-10-09 Created: 2019-10-09 Last updated: 2019-10-09
Arvidsson, S. & Johansson, J. (2019). Sense-making and sense-giving:: Reaching through the smokescreen of sustainability disclosure in the stock market. In: Susanne Arvidsson (Ed.), Challenges in Managing Sustainable Business: Reporting, Taxation, Ethics and Governance: (pp. 77-109). Vancouver: Palgrave Macmillan
Open this publication in new window or tab >>Sense-making and sense-giving:: Reaching through the smokescreen of sustainability disclosure in the stock market
2019 (English)In: Challenges in Managing Sustainable Business: Reporting, Taxation, Ethics and Governance / [ed] Susanne Arvidsson, Vancouver: Palgrave Macmillan, 2019, p. 77-109Chapter in book (Refereed)
Abstract [en]

Financial analysts’ role as information intermediaries between management teams and investors is vital for the efficient allocation of resources on the stock market. The increased focus on sustainability information in corporate reports has affected financial analysts in their important work of interpreting, assessing and communicating value-added information to their clients, i.e. the investors. The challenges they face relate to the ambiguous nature of sustainability information and its difference from traditional financial information. How do analysts reach through this smokescreen? How do analysts make sense of sustainability information, and how do they give sense to this information when they provide investment advices to their investors? In this chapter, these challenges are addressed from a cognitive-frame perspective. We argue that the first part of 2000s was characterized by cognitive dissonance due to both a low social legitimacy and a low cognitive legitimacy, i.e. sustainability was not yet requested by the investors to be attended to and it was regarded too ambiguous to be relevant for being considered in a valuation context. In the latter part of 2010s, we argue that there is only a partial cognitive dissonance. At this time, sustainability information is beginning to be socially legitimate and requested by investors. However, the complexity of the situation remains. This type of information is still not considered as cognitive legitimate due to the ambiguous nature, which renders difficulties for the sense-making and sense-giving processes. The findings have implications not the least in the ongoing quest of developing frameworks, standards and legislation (e.g. the EU directive (2014/EU/95)), that opt for improving the relevance, credibility and comparability of sustainability information.

Place, publisher, year, edition, pages
Vancouver: Palgrave Macmillan, 2019
National Category
Social Sciences
Research subject
Accounting and Control
Identifiers
urn:nbn:se:ltu:diva-76331 (URN)10.1007/978-3-319-93266-8_4 (DOI)978-3-319-93266-8 (ISBN)
Note

https://doi.org/10.1007/978-3-319-93266-8_4

Available from: 2019-10-09 Created: 2019-10-09 Last updated: 2019-11-22
Voitkane, A., Johansson, J., Malmström, M. & Wincent, J. (2018). Does birds of a feather flock together?: A relational gender theory approach in entrepreneurial finance. In: 21st Uddevalla Symposium, 2018: . Paper presented at 21st Uddevalla Symposium, Luleå, Sweden, 14-16 June 2018.
Open this publication in new window or tab >>Does birds of a feather flock together?: A relational gender theory approach in entrepreneurial finance
2018 (English)In: 21st Uddevalla Symposium, 2018, 2018Conference paper, Published paper (Refereed)
National Category
Other Engineering and Technologies Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
urn:nbn:se:ltu:diva-70612 (URN)
Conference
21st Uddevalla Symposium, Luleå, Sweden, 14-16 June 2018
Available from: 2018-08-27 Created: 2018-08-27 Last updated: 2018-09-05Bibliographically approved
Chronéer, D., Johansson, J., Nilsson, M. & Runardotter, M. (2017). Digital platform ecosystems: From information transactions to collaboration impact. In: : . Paper presented at 29th ISPIM Innovation Conference : Composing the Innovation Symphony, Vienna, Austria, 18-21 June 2017.
Open this publication in new window or tab >>Digital platform ecosystems: From information transactions to collaboration impact
2017 (English)Conference paper, Published paper (Refereed)
National Category
Other Engineering and Technologies not elsewhere specified Information Systems, Social aspects Media and Communication Technology
Research subject
Entrepreneurship and Innovation; Information systems; Mobile and Pervasive Computing
Identifiers
urn:nbn:se:ltu:diva-62988 (URN)
Conference
29th ISPIM Innovation Conference : Composing the Innovation Symphony, Vienna, Austria, 18-21 June 2017
Available from: 2017-04-11 Created: 2017-04-11 Last updated: 2018-01-13Bibliographically approved
Dana, L.- . -., Dabić, M., Johansson, J. & Wincent, J. (2017). Food Organization Matters: Paradoxes, problems and potentialities with Rangifer tarandus, traditional food for Inuit and Sámi. In: : . Paper presented at 12th Organization Studies Workshop, Food Organizing Matters: Paradoxes, Problems and Potentialities, Chania, Crete, Greece, 18-20 May 2017.
Open this publication in new window or tab >>Food Organization Matters: Paradoxes, problems and potentialities with Rangifer tarandus, traditional food for Inuit and Sámi
2017 (English)Conference paper, Oral presentation with published abstract (Refereed)
Abstract [en]

Abstract

Aboriginal Inuit of the Arctic Canada and indigenous Sámi of Fennoscandia hold onto cultural values such as sourcing traditional food from their land; these peoples still live – at least partially – in a subsistence economy. Both were traditionally nomadic, and nowadays, Inuit travel to hunt, while Sámi reindeer herders still follow their herds during periods required. Given their lifestyle, nomadic patters, work values, ethics, natural adaptation, and the central tenet of their food production and eating habits, both of these societies constitute an interesting case about self-employment, subsistence, food production and organization – including food-sharing by which income is voluntarily distributed according to custom, to the needy. However, much remains to be known about how they adapt to problems and engage in these matters. Whereas quantitative methods best answer why questions, we opt for a qualitative approach that is better suited to how questions. In a qualitative study, we observe the preservation of and respect for traditional knowledge and competencies. Community entrepreneurs organize their society with a high level of respect, networking, and reducing economic risk. We also identify tension between mainstream and traditional culture in the framing process, and how different types of frames were used to develop consensus around their core cultural food. We show and identify a process model of how the Inuit and Sámi communities engaged in frames and framing to develop consensus through self-respect of traditional knowledge, but to adjust and influence challenges to their historical culture.  

National Category
Social Sciences Economics and Business Business Administration Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
urn:nbn:se:ltu:diva-63553 (URN)
Conference
12th Organization Studies Workshop, Food Organizing Matters: Paradoxes, Problems and Potentialities, Chania, Crete, Greece, 18-20 May 2017
Available from: 2017-05-26 Created: 2017-05-26 Last updated: 2017-11-24Bibliographically approved
Voitkane, A., Johansson, J., Malmström, M. & Wincent, J. (2017). Gender in Crossroad: Queen Bees' and Alpha Males' hinder Access to Entrepreneurial Finance. In: : . Paper presented at SIBR 2017, Sydney Conference on Interdisciplinary Business & Economics Research, Sydney, Australia, April 15-16 2017.
Open this publication in new window or tab >>Gender in Crossroad: Queen Bees' and Alpha Males' hinder Access to Entrepreneurial Finance
2017 (English)Conference paper, Published paper (Refereed)
National Category
Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
urn:nbn:se:ltu:diva-62991 (URN)
Conference
SIBR 2017, Sydney Conference on Interdisciplinary Business & Economics Research, Sydney, Australia, April 15-16 2017
Available from: 2017-04-11 Created: 2017-04-11 Last updated: 2018-09-03Bibliographically approved
Malmström, M., Johansson, J. & Wincent, J. (2017). Gender Stereotypes and Venture Support Decisions: How Governmental Venture Capitalists Socially Construct Entrepreneurs' Potential. Entrepreneurship: Theory & Practice, 41(5), 833-860
Open this publication in new window or tab >>Gender Stereotypes and Venture Support Decisions: How Governmental Venture Capitalists Socially Construct Entrepreneurs' Potential
2017 (English)In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 41, no 5, p. 833-860Article in journal (Refereed) Published
Abstract [en]

In the present study, we conduct a discourse analysis on a set of longitudinal observations of government venture capitalists' decisions to identify how gender stereotypes are socially constructed and activated when assessing entrepreneurs' potential in the financial distribution of venture support. The present study finds that female entrepreneurs risk receiving significantly less venture capital, which is caused by the language and rhetoric used that relates to gender differences when funding decisions are made. We consider and discuss the implications of our results for related research about distributing venture capital and the social constructions of female and male entrepreneurs

Place, publisher, year, edition, pages
John Wiley & Sons, 2017
National Category
Other Engineering and Technologies not elsewhere specified
Research subject
Entrepreneurship and Innovation
Identifiers
urn:nbn:se:ltu:diva-62093 (URN)10.1111/etap.12275 (DOI)000408812900007 ()2-s2.0-85011673131 (Scopus ID)
Note

Validerad;2017;Nivå 2;2017-09-14 (andbra)

Available from: 2017-02-20 Created: 2017-02-20 Last updated: 2018-07-10Bibliographically approved
Johansson, J., Malmström, M., Wincent, J. & Voitkane, A. (2017). Normkritisk innovation för nya affärsmodeller: Mångfald i offentliga finansiärers kommunikations- och marknadskanaler. Luleå: Luleå tekniska universitet
Open this publication in new window or tab >>Normkritisk innovation för nya affärsmodeller: Mångfald i offentliga finansiärers kommunikations- och marknadskanaler
2017 (Swedish)Report (Other academic)
Abstract [en]

Rapporten RIKA affärsmodeller presenterar ett ramverk för arbete med normkritisk innovation för nya affärsmodeller med inriktning mot kommunikations- och marknadskanaler. Rapporten baseras på resultat från VINNOVA-projektet RIKA 3.0. Offentliga finansiärer, näringslivsrådgivare, nuvarande och potentiella entreprenörer samt andra typer av finansiärer har inom ramen för en experimentell miljö, s.k. Livinglabb, tillsammans bidragit till att identifiera upplevda problem och möjligheter med finansiärernas kommunikation och marknadskanaler. I arbetet har en normkritisk analysmetodik använts för utveckling av en prototyp; ”MÖTA” för att hantera kommunikation med inriktning på affärsmodeller mot en mångfald av entreprenörer/företag samt ett dialogverktyg för normkritisk innovation i kommunikations- och marknadskanaler. Dialogverktyget har potential till att bidra till en mer medveten kommunikationsstrategi med möjlighet att möta en mångfald av företagare och därmed bidra till jämlik tillgång till offentlig finansiering. Dialogverktyget kan därmed synliggöra och riva strukturella hinder kring mångfald hos offentliga finansiärer, vilka idag mer eller mindre omedvetet hindrar mångfald av företag och deras möjlighet att ta del av det offentliga finansieringssystemet. Genom att sätta ”MÖTA” mot nuvarande affärsmodeller kan potentialen inom en bredare bas av företag, företag som ligger utanför den gängse normen av företagande tillvaratas även de som ofta mer eller mindre omedvetet exkluderas från finansieringssystemet

Place, publisher, year, edition, pages
Luleå: Luleå tekniska universitet, 2017. p. 83
Keywords
affärsmodell, normkritisk innovation, kommunikation, jämlikhet
National Category
Social Sciences Other Engineering and Technologies not elsewhere specified Business Administration
Research subject
Entrepreneurship and Innovation; Accounting and Control
Identifiers
urn:nbn:se:ltu:diva-65841 (URN)
Projects
RIKA 3.0
Available from: 2017-09-27 Created: 2017-09-27 Last updated: 2018-09-03Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0002-3377-6177

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