Emotional robustness in times of crisis: the effects of venture funding on the digital communication styles of entrepreneurs

Abstract

PurposeEntrepreneurial communication describes the communication activities of entrepreneurs and is an essential tool for entrepreneurs to build relationships. However, there is a lack of research regarding how entrepreneurs adapt their communication styles in times of crisis. Nevertheless, entrepreneurial communication during a crisis is essential because entrepreneurs must continue communicating with their stakeholders and be visible. In this regard, communication has the central aim of preventing the startup from suffering any damage that may result from the crisis. Thus, the present paper explores potential shifts in the communication styles of entrepreneurs during the first wave of the COVID-19 pandemic.Design/methodology/approachThe authors examined the digital footprints of 780 entrepreneurs based in the USA on the social network Twitter. This study used a longitudinal dataset with the software Linguistic Inquiry and Word Count (LIWC) to analyze 110,283 tweets sent pre-crisis and during the first wave of COVID-19.FindingsThe results of the exploratory analysis revealed a connection between crisis and both analytical thinking and emotional responses. In the case of emotions, the results also suggest that entrepreneurs who had already received funding from venture capital investors remained emotionally robust during the crisis, as evidenced by the expression of more positive emotions compared to entrepreneurs without funding.Originality/valueThis study contributes to the understanding of entrepreneurial communication and adds the context of an exogenous shock to this research stream. Furthermore, this study highlights the effects of venture funding on the digital communication style of entrepreneurs, especially in the context of expressed emotions, and suggests emotional robustness for these entrepreneurs.