Torben Antretter
Title
PD Dr.
Last Name
Antretter
First name
Torben
Email
torben.antretter@unisg.ch
Phone
+41 71 224 78 89
21 results
Now showing 1 - 10 of 21
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Item type:Publication, To Crush the Pitch, Skip the Suit(Harvard Business Review, 2026-02-01); ; ; ;Dean ShepherdType:journal article - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Not what you expected to see? Obesity stereotypes, expectancy violations, and angel investment decisions(2025-05-17); ;Christian Henrik Wesemann Lekkas; ; This article investigates the impact of obesity stereotypes on angel investment decisions. Drawing from the stereotype literature and expectancy violation theory, we propose that angel investors tend to evaluate founders with obesity worse because they perceive them as high in warmth but low in competence (and competence matters more for angel investors’ evaluations). However, we also suggest that founders with obesity who violate low-competence stereotypes through high-competence displays can offset negative obesity stereotypes without affecting positive ones, leading to overall higher evaluations. The results from two field studies show that angel investors penalize founders with obesity but that the effect is ameliorated for those presenting high-tech ventures. A follow-up experiment using AI-generated, photorealistic manipulations of founders’ body types identifies perceived competence and warmth as mechanisms that explain the effects. Collectively, these findings contribute to the literature streams on appearance in entrepreneurial finance, stereotypes and their violations, and entrepreneurial research methods.Type:journal articleJournal:Journal of Business VenturingScopus© Citations 8 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Appearing Authentic: How Dress Formality Influences Perceived Authenticity in Investment Evaluations(2025) ;Wesemann Lekkas Henrik; ; ;Shepherd, DeanThis article explores the important but understudied topic of authenticity in investment evaluations. Building on research in authenticity and signaling theory, we theorize how visual first impressions, such as clothing, can generate perceptions of authenticity that lead investors to overlook later quality signals, including a lack of prior experience. We found support for our theory in two field studies and a randomized experiment: investors tend to perceive entrepreneurs who are casually dressed as more authentic than those formally dressed, which is associated with higher investor evaluations. Moreover, perceptions of authenticity generated by casual clothes crowd out later signals: Casually dressed entrepreneurs are evaluated highly regardless of their entrepreneurial experience, but formally dressed entrepreneurs are penalized for perceived inexperience. We discuss the implications of our findings for authenticity research, the temporal order of signals, and early-stage investments.Type:journal articleJournal:Journal of ManagementVolume:ForthcomingScopus© Citations 2 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Following in the Footsteps of Others: Social Proof in Angel Groups(2025-02-21) ;Wesemann Lekkas Henrik; ;Shepherd, DeanThis study develops a theory of social proof in angel investing. We propose that availability bias leads angel group members to copy the highly visible decisions of new investors evaluating the same opportunity (external social proof) and overlook the more insightful reinvestment decisions of prior investors (internal social proof). We also theorize that more experienced investors generally herd less but selectively imitate knowledgeable investors from prior rounds. A study of investments by 469 angel group members and a vignette experiment with 367 participants support our hypotheses. Our findings contribute to research on social proof, decision-making under uncertainty, and investment experience.Type:journal articleJournal:Entrepreneurship Theory and PracticeVolume:ForthcomingScopus© Citations 9 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Bridging the Social Investment Divide: How Can We Generate More Investments in Social Ventures?(2024) ;Wesemann Lekkas Henrik; Justo, RachidaSocial ventures, constituting a small fraction of startups, are pivotal in addressing global challenges and fostering inclusive economic growth. Despite their significance, these ventures encounter sub-stantial funding deficits, particularly in early stages, with only a minimal percentage of social funding directed towards nascent initiatives. Contrary to the assumption that low financial returns deter inves-tors, recent research indicates that the primary barrier is investors' difficulty in assessing the dual objectives—social impact and financial viability—of these ventures. This challenge is exacerbated by investors’ limited training in social sector evaluation and a lack of prior experience with social in-vestments. To bridge this investment divide, the article offers practical recommendations for inves-tors on how to approach investments into social ventures successfully.Type:journal articleJournal:California Management Review Insights - Some of the metrics are blocked by yourconsent settings
Item type:Publication, It’s a Peoples Game, Isn’t It?! A Comparison between the Investment Returns of Business Angels and Machine Learning Algorithms(Wiley-Blackwell SSH, 2022-07); ; ; ; Type:journal articleJournal:Entrepreneurship Theory and PracticeScopus© Citations 77 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, The role of skill versus luck in new venture survivalType:journal articleJournal:International Journal of Management ReviewsVolume:23Issue:4Scopus© Citations 10 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Do Algorithms Make Better — and Fairer — Investments Than Angel Investors?(Harvard Business Review, 2020-11-02); ; ; ; Malmstrom, MalinType:journal articleJournal:Harvard Business Review - Some of the metrics are blocked by yourconsent settings
Item type:Publication, Should business angels diversify their investment portfolios to achieve higher performance? The role of knowledge access through co-investment networks.(2020-09-05); ; ; This paper investigates the performance effects of business angel portfolio industry diversification. Using a unique bi-annual panel dataset of 142 members of a professional angel investment platform and their portfolio returns between 2013 and 2017, we consider the costs and benefits of diversifying investments into various industries. Drawing upon theoretical arguments about distant search, we theorize and find a nonlinear (S-shaped) relationship between portfolio industry diversification and performance. Further, we pay specific attention to a proposed overdiversification effect that takes place at high levels of portfolio industry diversification and show that this effect is moderated by individuals' access to industry knowledge through their co-investment networks. For business angels who have a central position within a diverse network of industry specialists, the overdiversification effect is less pronounced.Type:journal articleJournal:Journal of Business VenturingScopus© Citations 30 - Some of the metrics are blocked by yourconsent settings
Item type:Publication, New Venture Survival: A Review and Extension(2020-05-23) ;Soto-Simeone, Aracely; Type:journal articleJournal:International Journal of Management ReviewsVolume:22Issue:2020Scopus© Citations 127
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