범주 확장이 조직 성과에 미치는 부정적 영향의 완화 조절 효과에 대한 연구: 미국 벤처 캐피탈 산업을 중심으로

Abstract

This study examines how organizational status and egocentric uncertainty
 mitigate the negative effects of category spanning on organizational
 performance. Category spanning often leads to negative outcomes due to resource
 constraints and audience confusion. We focus on category spanning
 as an atypical combination of categories and identify two moderating factors,
 namely organizational status and egocentric uncertainty, that can attenuate
 these negative effects. First, we argue that high-status organizations involved
 in category spanning are less likely to confuse audiences by being perceived
 as distinctive and innovative, thereby reducing the likelihood of incurring
 penalties typically associated with such activities. Second, egocentric uncertainty
 enables similar resource allocation across categories, diminishing
 the usual downsides of category spanning without necessarily increasing audience
 confusion. To test our hypotheses, we analyzed U.S. venture-capital
 industry data from 2008 to 2016. Our main variables included the atypicality
 of the portfolio of investing industries, the status of the VC firm, and the
 average stage of invested companies. We tested the effects of these variables
 on the number of successful exits by utilizing negative binomial regression
 models. The findings support our theoretical contentions: high-status VC firms
 or those investing in ventures’ early stages are less susceptible to the negative
 ramifications of category spanning on successful exits compared to their respective
 counterparts.