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

Aaron H. Anglin, Christopher Courtney and Thomas H. Allison

Entrepreneurship Theory and Practice, 2022, vol. 46, issue 2, 421-448

Abstract: 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.

Keywords: crowdfunding; entrepreneurship; gender/copreneurs; investment; minority; social (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:46:y:2022:i:2:p:421-448

DOI: 10.1177/10422587211024545

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