@article{8691707,
  abstract     = {{Drawing on impression management and social exchange theory, we examine the use of positively biased forecasts by (non-)founder-CEOs as an impression management tactic vis-a-vis their existing investors. Contrary to their non-founder counterparts, founder-CEOs identify more with the venture they founded and, therefore, experience greater instrumental and affective concerns about the long-term relationship with their investors. Consequently, we hypothesize that founder-CEOs will strategically provide less positively biased forecasts to their investors than non-founder-CEOs. Using two independent samples with revenue forecasts reported to different venture capital investors and a causal chain scenario study consisting of two experiments, we find consistent support for our hypothesis. Overall, this study provides new insights into the use of forecasts as a post-investment impression management tactic by distinct types of CEOs in entrepreneurial ventures.}},
  articleno    = {{106075}},
  author       = {{Collewaert, Veroniek and Vanacker, Tom and Anseel, Frederik and Bourgois, Dries}},
  issn         = {{0883-9026}},
  journal      = {{JOURNAL OF BUSINESS VENTURING}},
  keywords     = {{Management of Technology and Innovation,Business and International Management,Forecasts,Venture capital,Founder,Impression management,Social exchange theory,VENTURE CAPITALISTS,EXECUTIVE-COMPENSATION,SYMBOLIC MANAGEMENT,ENTREPRENEURS,GOVERNANCE,PERFORMANCE,INVESTMENT,IMPACT,MATTER,MODEL}},
  language     = {{eng}},
  number       = {{1}},
  pages        = {{17}},
  title        = {{The sandwich game : Founder-CEOs and forecasting as impression management}},
  url          = {{http://doi.org/10.1016/j.jbusvent.2020.106075}},
  volume       = {{36}},
  year         = {{2021}},
}

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