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Responses to Psychological Contract Violations in the Venture Capitalists – Entrepreneur Relationship: An Exploratory Study

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Author

Summary, in English

The purpose of our paper is to describe venture capitalists’ responses to psychological contract violations in their relationship with entrepreneurs. In addition, we seek to establish a link between the characteristics of a psychological contract violation and the venture capitalist’s behavior. We are concerned with three forms of psychological contract violations: (i) a disagreement over the goals or strategies of a portfolio company, (ii) incompetence of the entrepreneur, and (iii) shirking and opportunistic behavior of the entrepreneur. Our results show that venture capitalists prefer active behaviors to passive approaches. Also, voluntariness of the psychological contract violation, possibilities to improve the impaired relationship, and the performance implications for the portfolio company play a key role in determining the venture capitalist’s

Publishing year

2003

Language

English

Publication/Series

Frontiers of Entrepreneurship Research: Proceedings of the Twenty-Third Annual Entrepreneurship Research Conference

Document type

Conference paper

Topic

  • Business Administration

Conference name

Babson-Kauffman Entrepreneurship Research Conference, 2003

Conference date

2003-06-05 - 2003-06-07

Conference place

Boston, United States

Status

Published

ISBN/ISSN/Other

  • ISBN: 0-910897-24-7