Hype, Morality, and new Ventures: How Entrepreneurial Framing Affects the Behavior and Moral Legitimacy of Hyped Ventures

21.11.2024 11:30 – 12:30

MANAGEMENT BROWN BAG SEMINAR

ABSTRACT

Hyped ventures benefit from aligning their framing with the hype by attracting resources, but in doing so they risk adopting problematic conduct that undermines their moral legitimacy. This study explores the overlooked internal dynamics within the venture through which this phenomenon unfolds and can be addressed. In a longitudinal case study of a hyped fintech venture that lost and repaired its moral legitimacy, we uncover an important framing process that hyped ventures can use to incorporate moral considerations in different ways when pursuing financial goals. We find that the way ventures use this framing process facilitates the loss or repair of their moral legitimacy through two internal processes: the activation of distinct emotions among employees (“antagonistic excitement” and “post-hype catharsis”) and the entrenchment of a distinct organizational culture (“hubristic” vs. “purpose-driven”) that supports different levels of moral awareness in the venture’s conduct. By theorizing the mechanisms through which these internal processes affect the loss and repair of the moral legitimacy of hyped ventures over time, this study contributes to scholarship on cultural entrepreneurship, entrepreneurial framing, and tech venture legitimacy.

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entrée libre