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SUMMARY:Seminar by Prof. Ari Ginsberg\, NYU
DTSTART:20151118T120000
DTEND:20151118T133000
DTSTAMP:20260917T150108Z
UID:84309522eba6dccb3bda74398dcea33b01df7565f23223a0bccf0087
CATEGORIES:Conferences - Seminars
DESCRIPTION:Prof. Ari Ginsberg\, NYU Stern\n"Learning from Unusual Success
 : How Exit Attainment Discrepancy Influences Venture Capital Investments i
 n an Emerging Sector"Abstract\nThere is a gap in our understanding of how 
 organizations learn from above aspiration level\, infrequently occurring\,
  positive performance outcomes.  Studies of how organizations learn from 
 rare performance events highlight the importance of performance aspiration
 s in influencing decision makers’ attention to organizational change and
  risk taking. However these studies mainly focus on negative performance e
 vents. In contrast\, the attainment discrepancy literature\, which compare
 s performance outcomes to aspiration levels\, examines how organizations l
 earn from positive outcomes but it does not differentiate between infreque
 nt and regularly occurring performance outcomes. Therefore\, we examine ho
 w above aspiration level\, infrequently occurring\, positive performance o
 utcomes affected U.S. venture capitalist firms’ 2004-2011 clean energy i
 nvestment decisions. In this context\, where the positive outcomes (initia
 l public offerings and acquisitions) were infrequent and the negative outc
 omes frequent\, we found that decision makers paid attention to the positi
 ve performance feedback that they obtained rather than to the negative per
 formance feedback. Above aspiration level attainment discrepancies had a s
 ignificant U-shaped non-monotonic impact on investment\, while below aspir
 ation level performance attainment discrepancies did not have a significan
 t effect. Our findings suggest that organizational decision makers in an e
 merging sector like clean energy learn from infrequently occurring positiv
 e outcomes when they compare them to their aspiration levels\, they reduce
  subsequent investment when the prospects for gain are moderate\, and expa
 nd it only when the prospects of gain are very great.
LOCATION:EPFL\, ODY 4.03\, VIP Room http://plan.epfl.ch/?zoom=19&recenter_
 y=5863800.12869&recenter_x=731560.22521&layerNodes=fonds\,batiments\,label
 s\,information\,parkings_publics\,arrets_metro\,transports_publics&floor=4
 &q=ODY_4.03
STATUS:CONFIRMED
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