The Hierarchical Cognitive Structure of Entrepreneur Motivation Toward Private Equity Financing

Venture Capital, 8 (3): 253-271, 2006

19 Pages Posted: 17 Jan 2015

See all articles by Gabriele Morandin

Gabriele Morandin

University of Bologna

Massimo Bergami

University of Bologna

Richard P. Bagozzi

University of Michigan, Stephen M. Ross School of Business

Date Written: January 1, 2004

Abstract

This research investigates the motivation of 91 Italian entrepreneurs for engaging in private equity financing. The laddering methodology is used to uncover cognitive schemas of entrepreneurs consisting of a structure of interconnected motives organized in a hierarchy. Means – end chain theory, the laddering technique, and principles from network analysis are used to interpret the schemas. The individual motives and connections among motives provide insights into why entrepreneurs make the decisions that they do and suggest practical implications for strategic decisions, everyday management and policy. The overall approach and results of this study differ fundamentally from traditional financial and business strategy points of view on decision making by entrepreneurs in that actual thinking processes, values and goals of managers are investigated to explain their choices and actions.

Keywords: Cognitive schemas, entrepreneurs, hierarchical motives, laddering, means-end chains, private equity

Suggested Citation

Morandin, Gabriele and Bergami, Massimo and Bagozzi, Richard P., The Hierarchical Cognitive Structure of Entrepreneur Motivation Toward Private Equity Financing (January 1, 2004). Venture Capital, 8 (3): 253-271, 2006, Available at SSRN: https://ssrn.com/abstract=2550883

Gabriele Morandin (Contact Author)

University of Bologna ( email )

Via Capo di Lucca, 34
Bologna, BO 40126
Italy
+39 051 2098416 (Phone)
+39 051 2098074 (Fax)

HOME PAGE: http://www.unibo.it/Faculty/default.aspx?UPN=gabriele.morandin%40unibo.it&View=CV

Massimo Bergami

University of Bologna

Richard P. Bagozzi

University of Michigan, Stephen M. Ross School of Business ( email )

701 Tappan Street
Ann Arbor, MI MI 48109
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
41
Abstract Views
532
PlumX Metrics