Abstract

Entrepreneurs depend on persuasive pitching to secure venture capital (VC) funding, yet the roles of charisma and investor impulsiveness in shaping those decisions remain underexplored. This dissertation addresses the gap by examining how entrepreneurial charisma and investor impulsiveness influence persuasion outcomes during the pitch process. Two pilot studies and two main experiments tested these dynamics. In Study 1, a trained actor delivered a pre-scripted pitch in high and low charisma formats. In Study 2, extended the investigation by adapting the pitch text into AI-generated text, offering a comparison between human and AI-authored pitches. Results from both studies revealed a mix of anticipated and unanticipated patterns, demonstrating that charisma, when perceived as originating from a human source, significantly influenced funding decisions. However, when charisma was perceived as AI-authored, an “AI penalty” emerged: persuasion effects were disrupted, attitude towards the pitch was negatively impacted, and likelihood of funding decreased. Ultimately, this research underscores the fickle nature of humans and their responsiveness to charisma, pitch delivery, and perceived authorship on investment outcomes. Findings suggest that while charismatic attributes can positively influence fundraising outcomes, its effectiveness diminishes when paired with AI-generated content perceived as inauthentic. For entrepreneurs, the message is clear: charisma is a powerful asset in venture fundraising, but only when it feels real.

Library of Congress Subject Headings

Entrepreneurship—Psychological aspects; Charisma (Personality trait); Investment analysis—Psychological aspects; Fund raising— Venture capital

Date of Award

2025

School Affiliation

Graziadio Business School

Department/Program

Business

Degree Type

Dissertation

Degree Name

Doctorate

Faculty Advisor

Cristel Antonia Russell

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