題目：Here Comes the Sun: The Impact of Incidental Contextual Factors on Entrepreneurial Resource Acquisition（天助我也：偶然因素與企業(yè)家資源獲取）

摘要：This paper focuses on investment decisions in nascent, seed-stage startups, where information is scarce and uncertainty is intense. Entrepreneurship literature has shown that investment is a function of the investor–startup pair; some studies have investigated startup characteristics, while others have focused on investor traits. We complement extant work by studying factors beyond the investor–startup pair; namely, incidental contextual factors such as changes in the physical environment. Drawing on affect-as information theory, we conjecture that, in the face of intense uncertainty, sunnier days may affect investors’ mood and result in a greater likelihood of investment. Archival and experimental analyses inform our predictions. The former utilizes proprietary data on 1,335 startups graduating from European accelerators. Every accelerator holds a “Demo Day,” where startups pitch to investors. We find that graduating on a sunnier day increases the likelihood of investment. This effect is stronger under intense uncertainty, where (a) startups are nascent, or (b) founders have limited human capital. An experimental study where prospective investors evaluate a Demo Day pitch yields further insights. We find a positive sunshine–investment association, and show that the association is mediated by investors’ mood. Our findings complement extant work and contribute insights regarding seed-stage investment decisions.

研究問題：與投資項(xiàng)目主體（投資人）和客體（項(xiàng)目）之外的偶然性因素，譬如天氣（陽光）對(duì)于企業(yè)家獲取投資的影響

研究動(dòng)機(jī)：已有研究聚焦于與投資項(xiàng)目聯(lián)系緊密的主客體特征對(duì)于獲取投資的影響；少有學(xué)者探究偶然性因素的影響

研究設(shè)計(jì)：檔案數(shù)據(jù)（主回歸和截面回歸）+實(shí)驗(yàn)證據(jù)（中介作用）

調(diào)節(jié)中介：異質(zhì)性分析探究陽光對(duì)融資的影響是否因項(xiàng)目不確定性水平變化，實(shí)證度量為項(xiàng)目成熟度和創(chuàng)始人人力資本；中介是陽光影響了投資人心情（mood），從而促進(jìn)了投資。

研究貢獻(xiàn)：從獨(dú)特視角對(duì)企業(yè)家精神相關(guān)研究的拓展，并且用實(shí)驗(yàn)方法驗(yàn)證了其中的機(jī)制（陽光影響了投資人的心情）

注：個(gè)人翻譯和解讀，可能存在疏漏和錯(cuò)誤,僅供參考(20220429)。