Balancing "What Matters to Me" & "What Matters to Them" in Entrepreneurs' Legitimation Efforts

On the basis of a qualitative longitudinal study, we develop a process model to account for the role of values in entrepreneurs' legitimation efforts. In doing so, we seek to contribute to the body of work on (new venture) legitimation. Extant research has focused on entrepreneurs' activities in aligning themselves with the values and beliefs of external stakeholders, but has abstracted away from the role of entrepreneurs' own values and beliefs (i.e. legitimacy judgments) within the legitimation process. By focusing on how entrepreneurs’ legitimacy judgments may shape the legitimation process, we are able to offer new insights into how skillful legitimation is developed over time. We believe our study contributes to developing an understanding of legitimation activity as an emergent process shaped not only by institutional considerations but also by personal preferences and, indeed, struggles.