Corporate Reputation Review

, Volume 17, Issue 4, pp 273–289 | Cite as

How to Judge What Can’t be Seen and Touched? The Contingent Effect of Media Reputation on Young Firms’ Access to Venture Capital

  • Antoaneta P Petkova
Original Article


This study explores the differential benefits of media reputation for young firms obtaining venture capital (VC) under different levels of technical and market uncertainty. The analyses of the media reputation and VC funding of 414 information technology firms show that media reputation has a positive effect on the amount of VC funding they receive. This effect is particularly pronounced under conditions of market optimism, when VC investors are pressed to disburse more capital and to evaluate a larger number of young firms in a short period of time. The study contributes to reputation research and practice by drawing attention to the contingent benefits of reputation depending on the industry context in which stakeholders evaluate and compare competing firms.


media reputation uncertainty venture capital young firms 



This paper has benefited from the helpful comments and suggestions of an anonymous CRR reviewer and the participants at the Western Academy of Management annual meeting.


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Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Ltd 2014

Authors and Affiliations

  • Antoaneta P Petkova
    • 1
  1. 1.San Francisco State UniversitySan FranciscoUSA

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