Nascent ventures’ green initiatives and angel investor judgments of legitimacy and funding

GEO and sustainable performance: the moderating role of GTD and environmental consciousness

“…Additionally, GTD provides a stable business environment for continued investment in entrepreneurial projects. According to Truong and Nagy (2021), GTD has a significant moderating effect on the relationship between a firm's intellectual capital and new product development performance. Therefore, a strong GTD may help firms achieve greater sustainable performance when their GEO is high.…”

The identity of social impact venture capitalists: exploring social linguistic positioning and linguistic distinctiveness through text mining

“…Some global networks, such as the aforementioned GIIN and the Impact Investing Policy Collaborative (IIPC), have emerged in an attempt to provide the field with precise boundaries. 9 For the field to maintain its original transformative power, scholars have highlighted the need to intentionally generate social and environmental impact into practices (Höchstädter & Scheck, 2015;Truong & Nagy, 2021). Recently, scholars have suggested that definitions of impact investing need also to consider "additionality"-to guarantee that the social or environmental outcome generated goes beyond what would otherwise have occurred (Hebb, 2013;So & Staskevicius, 2015).…”

Legitimation work in sustainable entrepreneurship: Sustainability ventures’ journey towards the establishment of major partnerships

“…Our findings suggest that the founders of Venture 1, Venture 2 and Venture 3 succeeded in conveying a view of their firms as legitimate collaboration partners by disclosing their initiatives and strong passion for environmental protection. Signalling that an initiative addresses an urgent environmental issue in the contemporary world improves audience judgements of the worthiness of a new venture (Truong and Nagy, 2020). A venture's environmental commitment is classed by firms as being among their most attractive and distinctive features (Navis and Glynn, 2011), as Firm B's representative for Venture 2 implies by stating that the founder's sustainability passion was the deciding factor that triggered his decision.…”

“…The article contributes to the literature on sustainable entrepreneurship (Outsios and Kittler, 2018; Johnson and Schaltegger, 2019; Patzelt and Shepherd, 2011) by elaborating on how sustainability-driven entrepreneurs build legitimacy for their new ventures, particularly in securing their first major partnership. We further contribute to the literature on new venture legitimation (O'Neil and Ucbasaran, 2016; Uberbacher, 2014; Truong and Nagy, 2020) by highlighting how such ventures utilise dual logics in their legitimation work. Most importantly, we explore opportunities and barriers for sustainability ventures to exploit logic duality, that is, to benefit from being able to draw on both commercially and environmentally, or socially, oriented arguments for their products and services.…”

“…It may also be the case if the ventures need to address partly separate audiences within a potential partner firm – for example, in the form of managers who are responsible for sustainability efforts and managers with line responsibility for the process in which waste takes place. If this is the case, a sustainability venture may leverage commercial logic in its legitimation work to convey their ability to help the incumbent solve a resource-efficiency problem (Navis and Glynn, 2011) and also leverage environmental logic in efforts that in turn provide a source of broader social legitimacy for the incumbent firm (Truong and Nagy, 2020) – thereby increasing the legitimacy of the partnership within the incumbent firm (Weidner et al, 2019).…”