While we understand the importance of entrepreneurs listening to stakeholders, we lack a sufficient theory-driven understanding of why some entrepreneurs and their ventures can listen to their stakeholders more effectively than others. We offer a listening model of venture growth based on listening theories and the literatures on new ventures and capability development. Listening is initially facilitated by entrepreneurs' cognitive and behavioral processes, but continued venture growth creates a paradox for entrepreneurs. Listening to stakeholders may also deplete entrepreneurs' personal resources, diminishing their listening capacity. This paradox can be overcome by generating their ventures' listening capability—behavioral routines and attention structures for listening—enabling them to acquire and interpret quality information from stakeholders more effectively to build or adapt the capabilities necessary for venture growth. The ventures' listening capability acts as a dynamic capability, which itself can be dynamic. This listening model of venture growth contributes to the entrepreneurship literature on stakeholders, entrepreneurs' abilities, and ventures' capabilities and dynamic capabilities.

中文翻译：

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风险投资成长的倾听模型：创业者的倾听能力与创业者的倾听能力


虽然我们理解企业家倾听利益相关者意见的重要性，但我们缺乏足够的理论驱动理解，即为什么一些企业家及其企业可以比其他企业家更有效地倾听利益相关者的意见。我们提供了一个基于倾听理论和关于新企业和能力发展的文献的风险增长倾听模型。企业家的认知和行为过程最初促进了倾听，但持续的风险增长给企业家带来了一个悖论。倾听利益相关者的意见也可能耗尽企业家的个人资源，从而降低他们的倾听能力。这个悖论可以通过生成他们的企业倾听能力（行为套路和倾听的注意力结构）来克服，使他们能够更有效地从利益相关者那里获取和解释质量信息，以建立或调整风险投资发展所需的能力。企业的监听能力充当动态能力，而动态能力本身可以是动态的。这种风险增长的倾听模型有助于关于利益相关者、企业家的能力以及风险投资的能力和动态能力的创业文献。