This research addresses the question of what specific entrepreneurs’ behavior increases the propensity for resource acquisition. Within the context of business “pitches,” we explore subtleties in the process via a theoretically derived model linking entrepreneurs’ preparedness behavior, perceived cognitive legitimacy, and amount of funding received. We test this model using data coded from two sources: 14 episodes of the television show “Shark Tank” that aired in 2009, as well as 84 episodes of “Dragons Den” that aired from 2005 to 2010. Within these episodes, we specifically examine the 113 individual business pitches that received funding. Overall, results suggest the relationship between entrepreneurs’ preparedness behavior and the amount of funding received is mediated by cognitive legitimacy. Specifically, entrepreneurs’ increased preparedness behavior was positively related to increased cognitive legitimacy. Cognitive legitimacy, in turn, was positively related to amount of funding received. We offer thoughts regarding implications from both theoretical and practical perspectives.

We examine how entrepreneurs’ behaviors related to credentials and impression management (IM) impact perceptions of new venture (NV) legitimacy. Results from this experiment, as hypothesized, show that entrepreneurs’ credentials and IM behaviors are positively related to legitimacy perceptions. Contrary to expectations, however, findings do not support either interaction hypothesis when credentials are high or low. We discuss how these findings illustrate the importance of entrepreneurs’ behaviors during the NV creation process and outline multiple directions for future research.

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As the field of impression management studies matures, the tools used to study and assess its components continue to be refined. The present study supplies additional testing and confirmation for one of the tools currently being used in the field: the Bolino and Turnley (1999) impression management scale. Using three samples of 144, 236, and 204 full-time employees, we confirm the factor structure and the utility of the majority of the scale's twenty-two items, as well as demonstrate the convergent and discriminant validity of the scale. The results of the study also suggest avenues for future research.