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Sustainability 2017, 9(10), 1815; doi:10.3390/su9101815

Reveal or Conceal? Signaling Strategies for Building Legitimacy in Cleantech Firms

1
NTNU Business School, Norwegian University of Science and Technology, 7491 Trondheim, Norway
2
The Mads Clausen Institute, University of Southern Denmark, 6400 Sønderborg, Denmark
3
Nord University Business School, Nord University, 8049 Bodø, Norway
*
Author to whom correspondence should be addressed.
Received: 31 July 2017 / Revised: 29 September 2017 / Accepted: 29 September 2017 / Published: 10 October 2017
(This article belongs to the Special Issue Entrepreneurial Sustainability: New Innovative Knowledge)
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Abstract

New entrants in technology-intense industries are in a race to build legitimacy in order to compete with established players. Legitimacy has been identified as a driver of venture survival and growth; it helps mitigate third-party uncertainty and so facilitates access to resources, engagement with customers and other stakeholders. Nevertheless, we know little about how legitimacy is built and how new entrants build legitimacy in complex technology-intensive industries. In this research we explore how Norwegian cleantech firms use signaling and strategic actions to build legitimacy. We analyze five cases while investigating their actions in different phases of the venture’s evolution. The results suggest that, contrary to signaling theory expectations, young clean-tech firms do not always build legitimacy by conveying information on their strengths. Instead, we observe that they use signaling strategies to address the specific concerns of different stakeholders. This is very much contingent upon the evolutionary stage of the venture and the firm’s current weaknesses. View Full-Text
Keywords: cleantech firms; signaling; strategies; legitimacy; development stages cleantech firms; signaling; strategies; legitimacy; development stages
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Bjornali, E.S.; Giones, F.; Billstrom, A. Reveal or Conceal? Signaling Strategies for Building Legitimacy in Cleantech Firms. Sustainability 2017, 9, 1815.

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