Putting Money Where the Mouths Are: The Relation Between Venture Financing and Electronic Word-of-Mouth

References

• Aggarwal R., Gopal R., Sankaranarayanan R., Vir Singh P. Blog, blogger, and the firm: Can negative employee posts lead to positive outcomes? Inform. Systems Res. (2012) . ForthcomingLink, Google Scholar
• Aldrich H.Organizations Evolving (1999) (Sage, Thousand Oaks, CA) Google Scholar
• Aldrich H. E., Fiol C. M. Fools rush in? The institutional context of industry creation. Acad. Management Rev. (1994) 19(4):645–670Crossref, Google Scholar
• Antweiler W., Frank M. Z. Is all that talk just noise? The information content of internet stock message boards. J. Finance (2004) 59(3):1259–1294Crossref, Google Scholar
• Baum C. F., Schaffer M. E., Stillman S. Instrumental variables and GMM: Estimation and testing. Stata J. (2003) 3(1):1–31Crossref, Google Scholar
• Bonardi J., Keim G. D. Corporate political strategies for widely salient issues. Acad. Management Rev. (2005) 30(3):555–576Crossref, Google Scholar
• Bruton G. D., Chahine S., Filatotchev I. Founders, private equity investors, and underpricing in entrepreneurial IPOs. Entrepreneurship Theory Practice (2009) 33(4):909–928Crossref, Google Scholar
• Burt R. S.Toward a Structural Theory of Action (1982) (Academic Press, New York) Crossref, Google Scholar
• Certo S. T. Influencing initial public offering investors with prestige: Signaling with board structures. Acad. Management Rev. (2003) 28(3):432–446Crossref, Google Scholar
• Chen P., Dhanasobhon S., Smith M. D. An analysis of the differential impact of reviews and reviewers at Amazon.com. 28th Internat. Conf. Inform. Systems (ICIS), Assoc. Inform. Systems (2007) Montreal, QC, CanadaGoogle Scholar
• Chevalier J. A., Mayzlin D. The effect of word of mouth on sales: Online book reviews. J. Marketing Res. (2006) 43(3):345–354Crossref, Google Scholar
• Clemons E. K., Gaoand G. G., Hitt L. M. When online reviews meet hyper differentiation: A study of the craft beer industry. J. Management Inform. Systems (2006) 23(2):149–171Crossref, Google Scholar
• Connelly B. L., Certo S. T., Ireland R. D., Reutzel C. R. Signaling theory: A review and assessment. J. Management (2011) 37(1):39–67Crossref, Google Scholar
• Deeds D. L., Mang P. Y., Frandsen M. L. The influence of firms' and industries' legitimacy on the flow of capital into high-technology ventures. Strategic Organ. (2004) 2(1):9–34Crossref, Google Scholar
• Deephouse D. L. Does isomorphism legitimate? Acad. Management J. (1996) 39(4):1024–1039Crossref, Google Scholar
• Dellarocas C., Zhang X. M., Awad N. F. Exploring the value of online product reviews in forecasting sales: The case of motion pictures. J. Interactive Marketing (2007) 21(4):23–45Crossref, Google Scholar
• Downes D. H., Heinkel R. Signaling and the valuation of unseasoned new issues. J. Finance (1982) 37(1):1–10Crossref, Google Scholar
• Duan W., Gu B., Whinston A. B. The dynamics of online word-of-mouth and product sales—An empirical investigation of the movie industry. J. Retailing (2008) 84(2):233–242Crossref, Google Scholar
• Etzion H., Awad N. Pump up the volume? Examining the relationship between number of online reviews and sales: Is more necessarily better? 28th Internat. Conf. Inform. Systems (ICIS), Assoc. Inform. Systems (2007) MontrealGoogle Scholar
• Fombrun C., Shanley M. What's in a name? Reputation building and corporate strategy. Acad. Management J. (1990) 33(2):233–258Crossref, Google Scholar
• Forman C., Ghose A., Wiesenfeld B. Examining the relationship between reviews and sales: The role of reviewer identity disclosure in electronic markets. Inform. Systems Res. (2008) 19(3):291–313Link, Google Scholar
• Ghose A., Ipeirotis P. G. Estimating the helpfulness and economic impact of product reviews: Mining text and reviewer characteristics. IEEE Trans. Knowledge Data Engrg. (2011) 23(10):1498–1512Crossref, Google Scholar
• Godes D., Mayzlin D. Using online conversations to study word-of-mouth communication. Marketing Sci. (2004) 23(4):545–560Link, Google Scholar
• Gompers P. A. Optimal investment, monitoring, and the staging of venture capital. J. Finance (1995) 50(5):1461–1489Crossref, Google Scholar
• Gompers P., Lerner J. Money chasing deals? The impact of fund inflows on private equity valuations. J. Financial Econom. (2000) 55(2):281–325Crossref, Google Scholar
• Hand J. R. The value relevance of financial statements in the venture capital market. Accounting Rev. (2005) 80(2):613–648Crossref, Google Scholar
• Hausman J. A. Specification tests in econometrics. Econometrica (1978) 46(6):1251–1271Crossref, Google Scholar
• Heckman J. J. Sample selection bias as a specification error. Econometrica (1979) 47(1):153–161Crossref, Google Scholar
• Hovland C. I., Janis I. L., Kelley H. H. Communication and persuasion. (1953) (Yale University Press, New Haven, CT) Google Scholar
• Hsu D. H. What do entrepreneurs pay for venture capital affiliation? J. Finance (2004) 59(4):1805–1844Crossref, Google Scholar
• Hsu D. H. Venture capitalists and cooperative start-up commercialization strategy. Management Sci. (2006) 52(2):204–219Link, Google Scholar
• Jaccard J., Turrisi R.Interaction Effects in Multiple Regression (2003) (Thousand Oaks, CA)Crossref, Google Scholar
• Janis I. L., Fadner R., Lasswell H., Padover S. K. The coefficient of imbalance. Language of Politics: Studies in Quantitative Semantics (1949) (George W. Stewart, New York) 153–169Google Scholar
• Jensen M., Roy A. Staging exchange partner choices: When do status and reputation matter? Acad. Management J. (2008) 51(3):495–516Crossref, Google Scholar
• Koppel M., Schler J. The importance of neutral examples for learning sentiment. Computational Intelligence (2006) 22(2):100–109Crossref, Google Scholar
• Leung S. F., Yu S. Collinearity and two-step estimation of sample selection models: Problems, origins, and remedies. Computational Econom. (2000) 15(3):173–199Crossref, Google Scholar
• Li K., Prabhala N., Eckb B. E. Self-selection models in corporate finance. Handbook of Corporate Finance, Volume 1: Empirical Corporate Finance (2006) (Elsevier, North-Holland) 37–83Google Scholar
• Li X., Hitt L. M. Self selection and information role of online product reviews. Inform. Systems Res. (2008) 19(4):456–474Link, Google Scholar
• Liu Y. Word of mouth for movies: Its dynamics and impact on box office revenue. J. Marketing (2006) 70(3):74–89Crossref, Google Scholar
• Martilla J. A. Word-of-mouth communication in the industrial adoption process. J. Marketing Res. (1971) 8(2):173–178Crossref, Google Scholar
• McGee J. E., Dowling M. J., Megginson W. L. Cooperative strategy and new venture performance: The role of business strategy and management experience. Strategic Management J. (1995) 16(7):565–580Crossref, Google Scholar
• Money R. B., Gilly M. C., Graham J. L. Explorations of national culture and word-of-mouth referral behavior in the purchase of industrial services in the United States and Japan. J. Marketing (1998) 62(4):76–87Crossref, Google Scholar
• Moriarty R. T., Spekman R. E. An empirical investigation of the information sources used during the industrial buying process. J. Marketing Res. (1984) 21(2):137–147Crossref, Google Scholar
• Nardi B. A., Schiano D. J., Gumbrecht M., Swartz L. Why we blog. Comm. ACM (2004) 47(12):41–46Crossref, Google Scholar
• Ozanne U. B., Churchill G. A. Five dimensions of the industrial adoption process. J. Marketing Res. (1971) 8(3):322–328Crossref, Google Scholar
• Park J. H., Gu B., Konana P. Impact of multiple word-of-mouth sources on retail sales. 30th Internat. Conf. Inform. Systems (ICIS), Assoc. Inform. Systems (2009) PhoenixGoogle Scholar
• Petkova A. P.Reputation Building by New Ventures: Three Essays on Processes and Performance (2006) . Unpublished doctoral dissertation, University of Maryland, College ParkGoogle Scholar
• Pettigrew A. M. The industrial purchasing decision as a political process. Eur. J. Marketing (1975) 9(1):4–19Crossref, Google Scholar
• Podolny J. M. A status-based model of market competition. Amer. J. Sociol. (1993) 98(4):829–872Crossref, Google Scholar
• Pollock T. G., Rindova V. Media legitimation effects in the market for initial public offerings. Acad. Management J. (2003) 46(5):631–642Crossref, Google Scholar
• Rao H. The social construction of reputation: Certification contests, legitimation, and the survival of organizations in the American automobile industry: 1895–1912. Strategic Management J. (1994) S1:29–44Crossref, Google Scholar
• Sanders W. G., Boivie S. Sorting things out: Valuation of new firms in uncertain markets. Strategic Management J. (2004) 25(2):167–186Crossref, Google Scholar
• Savicky P., Furnkranz J., Berthold M. R. Combining pairwise classifiers with stacking. Advances in Intelligent Data Analysis V (2003) (Springer, Berlin) 219–230Crossref, Google Scholar
• Scott S., Daniel C. Network ties, reputation, and the financing of new ventures. Management Sci. (2002) 48(3):364–381Link, Google Scholar
• Smith M. D., Telang R. Competing with free: The impact of movie broadcasts on DVD sales and Internet piracy. Management Inform. Systems Quart. (2009) 33(2):312–338Crossref, Google Scholar
• Spence M. Job market signaling. Quart. J. Econom. (1973) 87(3):355–374Crossref, Google Scholar
• Starr J. A., MacMillan I. C. Resource cooptation via social contracting: Resource acquisition strategies for new ventures. Strategic Management J. (1990) 11(4):79–92Google Scholar
• Stock J. H., Wright J. H., Yogo M. A survey of weak instruments and weak identification in generalized method of moments. J. Bus. Econom. Statist. (2002) 20(4):518–529Crossref, Google Scholar
• Stuart T. E., Hoang H., Hybels R. C. Interorganizational endorsements and the performance of entrepreneurial ventures. Admin. Sci. Quart. (1999) 44(2):315–349Crossref, Google Scholar
• Suchman M. C. Managing legitimacy: Strategic and instituitional approaches. Acad. Management Rev. (1995) 20(3):571–610Crossref, Google Scholar
• Thomas H. IPOs, acquisitions, and the use of convertible securities in venture capital. J. Financial Econom. (2006) 81(3):649–679Crossref, Google Scholar
• Thomas J. J., Barbara K. K. Wag the blog: How reliance on traditional media and the internet influence credibility perceptions of weblogs among blog users. Journalism Mass Comm. Quart. (2004) 81(3):622–642Crossref, Google Scholar
• Webster F. E. On the applicability of communication theory to industrial markets. J. Marketing Res. (1968) 5(4):426–428Crossref, Google Scholar
• Webster F. E. Informal communication in industrial markets. J. Marketing Res. (1970) 7(2):186–189Crossref, Google Scholar
• Webster F. E.Industrial Marketing Strategy (1995) (Wiley, New York) Google Scholar
• Webster F. E., Wind Y. A general model for understanding organizational buying behavior. J. Marketing (1972) 36(2):12–19Crossref, Google Scholar
• Whitman J. Lessons learned: New dot-coms seek attention cheaply. The Wall Street Journal (2006) February 13):B3AGoogle Scholar
• Yuval D., Thomas W. R. You are known by the directors you keep: Reputable directors as a signaling mechanism for young firms. Management Sci. (2003) 49(8):1003–1017Link, Google Scholar
• Zhu F., Zhang X. The influence of online consumer reviews on the demand for experience goods: The case of video games. 27th Internat. Conf. Inform. Systems (ICIS), Assoc. Inform. Systems (2006) MilwaukeeGoogle Scholar
• Zider B. How venture capital works. Harvard Business Rev. (1998) 76(6):131–139Google Scholar
• Zimmerman M. A. The influence of top management team heterogeneity on the capital raised through an initial public offering. Entrepreneurship Theory Practice (2008) 32(3):391–414Crossref, Google Scholar
• Zimmerman M. A., Zeitz G. J. Beyond survival: Achieving new venture growth by building legitimacy. Acad. Management Rev. (2002) 27(3):414–431Crossref, Google Scholar
• Zott C., Huy Q. N. How entrepreneurs use symbolic management to acquire resources. Admin. Sci. Quart. (2007) 52(1):70–105Crossref, Google Scholar