Qiang Xiong
Field: Entrepreneurship, Strategy, Innovation
Research Interests: Venture capital, startups' technology and market positioning, alternative protein industry, sustainability
Graduation: June 2024
References
- Andrea Fosfuri andrea.fosfuri@unibocconi.it
- Nilanjana Dutt nilanjana.dutt@unibocconi.it
- Mario Daniele Amore amore@hec.fr
Contact
Address: Office 4.B1.13, Bocconi University, Via G. Roentgen 1, 20136, Milan (Italy)
Email: qiang.xiong@unibocconi.it
My research examines the influence of different venture capital sources on startup dynamics, including technology and market positioning, sustainability-orientation, and broader implications on industry dynamics. I use quantitative methods such as patent data analysis and text analysis to investigate these topics empirically. I will be on the job market this fall and will attend AOM Chicago and SMS Istanbul.
JOB MARKET PAPER
Venture Capital Impact on Entrepreneurial Activities in Nascent Industries: Insights from Plant-based Food Sector
We theorize about how venture capital influences entrepreneurial entry and market positioning in a nascent industry. We propose that at the initial stage of industry emergence, investors’ interests facilitate new entry by signaling market validity and enhancing the favourability of the opportunity. However, as the nascent market expands, a significant portion of available capital is directed toward follow-on investments in ventures that previously received VC funding, thereby deterring new startups from entering. Additionally, we propose that ventures are inclined to adopt a broader market positioning following VC investments, leveraging multiple institutional logics within organizational fields and seeking to expand beyond their initial niche market. We test our theory by compiling a unique panel of startups entering the nascent plant-based food and beverage industry, analyzing historical websites to track changes in market positioning.
PUBLICATIONS
- Xiong, Q., Fosfuri, A., Misani, N., & Cheng, Y. 2024. Greening the Portfolio: LP Preferences for Social Impact and Sustainability Orientation of VC Funds. In Sonia Taneja (Ed.), Proceedings of the Eighty-fourth Annual Meeting of the Academy of Management. Online ISSN: 2151-6561.
WORKING PAPERS
- Xiong, Q. – "To cling together or to drift apart? Technological Positioning of Startups Backed by Corporate Venture Capital", under review
- Xiong, Q., Fosfuri, A., Misani, N., & Cheng, Y. – "Greening the Portfolio: Limited Partners and the Sustainability Orientation of VC Funds", under review
- Xiong, Q., & Fosfuri, A. - "Venture Capital Impact on Entrepreneurial Activities in Nascent Industries: Insights from Plant-based Food Sector"