Opening the black box: triggers for shifts in business angels’ risk mitigation strategies within investments

Autor:	Mikael Samuelsson, Anna Söderblom, Pär Mårtensson
Rok vydání:	2016
Předmět:	Finance 050208 finance business.industry media_common.quotation_subject 05 social sciences Investment (macroeconomics) Perception 0502 economics and business Business and International Management business 050203 business & management Risk management media_common
Zdroj:	Venture Capital. 18:211-236
ISSN:	1464-5343 1369-1066
Popis:	We open up the black box of business angel risk mitigation within investments, exploring triggers that force angels to shift strategies to overcome performance and relationship risks. Primary data were collected from 32 interviews with four matched business angel–entrepreneur dyads. Extensive iterative theory and cross-case comparisons reveal that business angels often shift strategies over the course of an investment cycle due to internal or external context-specific triggers, rather than factors associated with a particular investor, entrepreneur, or investment-related characteristic. Moreover, entrepreneur responses significantly impact business angels’ subsequent risk mitigation strategies. Two triggers emerging particularly strongly from the data were: (i) a shift in the angel’s perception of the entrepreneur’s ability and (ii) the entrance of new investors. We theorize on these findings and derive four novel propositions.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::2497577d9ad04dd341a4ad54d26f0fe7 https://doi.org/10.1080/13691066.2016.1175636 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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