Founder-CEO Extraversion and Sustainability Orientation in Initial Coin Offerings

Feilian Xia, James Thewissen, Winifred Huang and Shuo Yan

Entrepreneurship Theory and Practice, 2024, vol. 48, issue 4, 941-980

Abstract: This study contributes to sustainable entrepreneurship by examining the influence of entrepreneur personality on sustainability orientation in a digital finance market context. Extraverted entrepreneurs exhibit strong social connectivity. Consistent with the upper echelons theory, we show that extraversion has significant explanatory power for commitment to a sustainability agenda in initial coin offerings (ICOs). Drawing on institutional difference theory, we find that regulatory change and social pressure moderate the relationship between the extraversion of ICO entrepreneurs and sustainability orientation. Importantly, extraversion plays a significant role in an ICO’s success. Our study highlights the impact of entrepreneur personality traits on driving sustainability efforts and fundraising success.

Keywords: entrepreneurial characteristics; extraversion; sustainability; ESG; entrepreneurial finance; initial coin offerings (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:48:y:2024:i:4:p:941-980

DOI: 10.1177/10422587231211012

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