Venturing for Others, Subject to Role Expectations? A Role Congruity Theory Approach to Social Venture Crowd Funding

Scant attention has been paid to the differences in fundraising for social versus commercial ventures. We adopt a role congruity theory perspective to argue that because women and people of color are more congruent with role expectations attributed to social entrepreneurs, they experience better fun...

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Bibliographic Details
Published inEntrepreneurship theory and practice Vol. 46; no. 2; pp. 421 - 448
Main Authors Anglin, Aaron H., Courtney, Christopher, Allison, Thomas H.
Format Journal Article
LanguageEnglish
Published Los Angeles, CA SAGE Publications 01.03.2022
SAGE PUBLICATIONS, INC
Subjects
Entrepreneurs
Fund raising
Funding
Race
Racial differences
Social capital
Social entrepreneurship
Ventures
Women
investment
entrepreneurship
gender/copreneurs
minority
social
crowdfunding
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Summary:Scant attention has been paid to the differences in fundraising for social versus commercial ventures. We adopt a role congruity theory perspective to argue that because women and people of color are more congruent with role expectations attributed to social entrepreneurs, they experience better fundraising performance when raising crowdfunded capital for social ventures compared to commercial ventures. We then argue entrepreneur race heightens fundraising differences for men and women. Results indicate women experience better funding performance when funding a social versus commercial venture—an effect that is larger for women of color. Men of color experience worse performance when funding a social venture. We find no differences for White men.
Bibliography:ObjectType-Article-1
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ISSN:1042-2587
1540-6520
DOI:10.1177/10422587211024545