Overcoming Liability of Newness through Socialization : How Legitimation Strategies of a New Venture evolve

Ueberbacher, Florian; Jacobs, Claus Dietrich (6 July 2011). Overcoming Liability of Newness through Socialization : How Legitimation Strategies of a New Venture evolve. In: 27th EGOS Colloquium. Brüssel: EGOS European Group for Organizational Studies

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Liability of newness, the tendency of new ventures to die early after market entry, results from lacking legitimacy in their new cultural context and according failure to acquire resources. Based on a longitudinal case study on repeated resource acquisition attempts of a new venture, we found that overcoming liability of newness depended on the socialization of the new venture to the normative environment on which it depended on for resources. Over time and across repeated resource acquisition attempts, socialization - the process of learning the use of legitimate symbols and their culturally contingent meanings - enabled the new venture to become the skillful cultural operator on which legitimation and resource acquisition was contingent. From our data, 'Accumulating a repertoire of legitimate symbols' and 'Assimilating the evaluations of resource-holders' emerged as the two primary mechanisms for new venture socialization. The study's contributions to related literature and its broader theoretical implications are discussed

Item Type:

Conference or Workshop Item (Paper)

Division/Institute:

11 Centers of Competence > KPM Center for Public Management

UniBE Contributor:

Jacobs, Claus Dietrich

Subjects:

300 Social sciences, sociology & anthropology > 350 Public administration & military science

Publisher:

EGOS European Group for Organizational Studies

Language:

English

Submitter:

Claus Dietrich Jacobs

Date Deposited:

11 Mar 2011 17:22

Last Modified:

28 Nov 2020 02:26

Uncontrolled Keywords:

Liability of Newness, New Ventures, Resource Acquisition, Legitimacy, Socialization, Institutional Theory (Normative Pillar), Cultural Toolkit

URI:

https://boris.unibe.ch/id/eprint/76131

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