Commitment Issues? How Investors Perceive and React to the Different Roles of Hybrid Entrepreneurs
研究投资者如何看待保留工资或学术职位的混合型企业家，发现这种状态可能被视为缺乏承诺，但也是进入高增长创业的战略路径。基于角色一致性理论，通过访谈和案例研究提出理论命题。
Hybrid entrepreneurs who retain salaried or academic roles are often viewed as insufficiently committed by investors. Yet, maintaining a hybrid employment status can also be a strategic pathway into high-growth venturing. Drawing on Role Congruity Theory, we examine how Venture Capital funds and angel investors evaluate hybrid founders and how founders adapt over time. Using 17 semi-structured interviews with investors and hybrid entrepreneurs in two European ecosystems and two longitudinal case studies of research-intensive ventures, we inductively theorize hybrid venturing as a congruity alignment trajectory and derive propositions linking investor role expectations, founder adaptation, and ecosystem support structures.