When do investors prefer copycats? Conditions influencing the evaluation of innovative and imitative ventures
Abstract
Research Summary This article investigates the conditions under which investors preferentially evaluate fast follower business model copycats (BMCs)—less novel, imitative ventures—over novel ventures. Employing a conjoint experiment, we find that venture investors prefer fast follower BMCs when the venture team has major capability advantages in exploitation (compared to exploration). Further, we find that investors' experience reduces their...
Paper Details
Title
When do investors prefer copycats? Conditions influencing the evaluation of innovative and imitative ventures
Published Date
Oct 3, 2019
Volume
13
Issue
4
Pages
529 - 551
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