Evaluating Affordance-Based Opportunities: A Conjoint Experiment of Corporate Venture Capital Managers’ Decision-Making

Petrit Ademi, Monika C. Schuhmacher and Andrew L. Zacharakis

Entrepreneurship Theory and Practice, 2023, vol. 47, issue 6, 2293-2322

Abstract: We integrate opportunity evaluation reasoning with affordance theory to develop a nuanced theoretical model of action orientation in entrepreneurial decision-making. We test our model with a conjoint experiment of 864 decisions made by 54 corporate venture capital (CVC) managers evaluating digital ventures for investment. Our findings provide evidence that CVC managers value two sources of digital affordances: the recombinability and the reprogrammability of digital technologies. The results show that CVC managers individuate affordance-based investment opportunities based on their personal and organizational background. We contribute to a fine-grained understanding of action potentials in the evaluation of opportunities and advance affordance theory through a cognitive judgment perspective.

Keywords: affordance theory; conjoint experiment; corporate venture capital; digital technology; opportunity evaluation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:47:y:2023:i:6:p:2293-2322

DOI: 10.1177/10422587221134788

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