Reputation and new venture performance in online markets: The moderating role of market crowding
研究了在线市场中新创企业的声誉对绩效的影响，发现市场拥挤会削弱这种正向关系，在拥挤市场中声誉带来的绩效收益比不拥挤市场低38%到42%。
Reputation represents an important driver of new venture performance. This article shows that the performance benefits of reputation are substantially contingent on ventures' market conditions. My study of 797,087 sales transactions by 5760 new ventures in 119 platform-mediated online markets provides strong evidence that market crowding attenuates the reputation–performance relationship. Ventures benefit 38% to 42% more from a favorable reputation when they compete in an uncrowded (versus crowded) market. By disentangling the underlying mechanisms of reputation, my study allows for more accurate predictions about why, when, and how ventures benefit from reputation.