感知
创造力
衡平法
营销
心理学
公共关系
社会心理学
政治学
业务
法学
神经科学
作者
Michael Matthews,Aaron H. Anglin,Will Drover,Marcus T. Wolfe
标识
DOI:10.1016/j.jbusvent.2023.106361
摘要
Leveraging work on role theory and age stereotypes, we deploy a randomized experiment that uses AI to manipulate founder age in fundraising appeals. Broadly, we find that age perceptions matter to investors. Using 949 equity crowdfunding observations, we show that entrepreneurs benefit from appearing older when seeking funding. However, these benefits wane as age perceptions increase, and age perceptions eventually become detrimental to funding efforts, resulting in an inverted-U relationship between age perceptions and funding evaluations. Perceptions of founder intelligence, creativity, energy, and experience mediate this relationship. This study opens new frontiers by introducing founder age perceptions as an important, yet overlooked factor in entrepreneurial fundraising.
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