Why do business angels invest? Uncovering angels’ goals
AbstractDespite the increasing importance of business angels (BAs) as crucial players in the growth of high-potential early-stage startups, their motivations are not fully understood. Many of the perceptions of BAs deviate significantly from more conventional views of conventional economic and finan...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2023-12-01
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| Series: | Cogent Business & Management |
| Subjects: | |
| Online Access: | https://www.tandfonline.com/doi/10.1080/23311975.2023.2234134 |
| _version_ | 1827320244426768384 |
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| author | Rui Falcão Maria João Carneiro António Carrizo Moreira |
| author_facet | Rui Falcão Maria João Carneiro António Carrizo Moreira |
| author_sort | Rui Falcão |
| collection | DOAJ |
| description | AbstractDespite the increasing importance of business angels (BAs) as crucial players in the growth of high-potential early-stage startups, their motivations are not fully understood. Many of the perceptions of BAs deviate significantly from more conventional views of conventional economic and financial models. To gain a comprehensive understanding of BAs’ goals, qualitative techniques from marketing and consumer behaviour as additional lenses (including laddering and means-ends chains) were employed to allow currently active BAs to articulate their goals in ways that forced-choice, quantitative methods do not achieve. Additionally, to determine if entrepreneurs perceive BAs in the same way BAs see themselves, entrepreneurs were asked to provide their perspectives on why BAs choose to become angel investors, based on their experiences with BAs. The findings reveal that traditional financial viewpoints do not adequately capture the depth and driving force behind BAs’ goals, while entrepreneurs appear to be overly influenced by conventional assumptions about these goals. The study also provides valuable insights into the relationships and hierarchy among BAs’ goals, and on the relevance of each goal. The paper ends with reflections on the practical implications of this research for BAs, entrepreneurs and policymakers. |
| first_indexed | 2024-03-07T14:19:57Z |
| format | Article |
| id | doaj.art-f9c25412ba2c4f619607a816eb849c08 |
| institution | Directory Open Access Journal |
| issn | 2331-1975 |
| language | English |
| last_indexed | 2024-04-25T00:42:29Z |
| publishDate | 2023-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Business & Management |
| spelling | doaj.art-f9c25412ba2c4f619607a816eb849c082024-03-12T08:30:27ZengTaylor & Francis GroupCogent Business & Management2331-19752023-12-0110210.1080/23311975.2023.2234134Why do business angels invest? Uncovering angels’ goalsRui Falcão0Maria João Carneiro1António Carrizo Moreira2DEGEIT—Department of Economics, Management, Industrial Engineering and Tourism, University of Aveiro, Aveiro, PortugalDEGEIT—Department of Economics, Management, Industrial Engineering and Tourism, University of Aveiro, Aveiro, PortugalDEGEIT—Department of Economics, Management, Industrial Engineering and Tourism, University of Aveiro, Aveiro, PortugalAbstractDespite the increasing importance of business angels (BAs) as crucial players in the growth of high-potential early-stage startups, their motivations are not fully understood. Many of the perceptions of BAs deviate significantly from more conventional views of conventional economic and financial models. To gain a comprehensive understanding of BAs’ goals, qualitative techniques from marketing and consumer behaviour as additional lenses (including laddering and means-ends chains) were employed to allow currently active BAs to articulate their goals in ways that forced-choice, quantitative methods do not achieve. Additionally, to determine if entrepreneurs perceive BAs in the same way BAs see themselves, entrepreneurs were asked to provide their perspectives on why BAs choose to become angel investors, based on their experiences with BAs. The findings reveal that traditional financial viewpoints do not adequately capture the depth and driving force behind BAs’ goals, while entrepreneurs appear to be overly influenced by conventional assumptions about these goals. The study also provides valuable insights into the relationships and hierarchy among BAs’ goals, and on the relevance of each goal. The paper ends with reflections on the practical implications of this research for BAs, entrepreneurs and policymakers.https://www.tandfonline.com/doi/10.1080/23311975.2023.2234134angel goalsbusiness angel identityinvestor goalsentrepreneurself-development |
| spellingShingle | Rui Falcão Maria João Carneiro António Carrizo Moreira Why do business angels invest? Uncovering angels’ goals Cogent Business & Management angel goals business angel identity investor goals entrepreneur self-development |
| title | Why do business angels invest? Uncovering angels’ goals |
| title_full | Why do business angels invest? Uncovering angels’ goals |
| title_fullStr | Why do business angels invest? Uncovering angels’ goals |
| title_full_unstemmed | Why do business angels invest? Uncovering angels’ goals |
| title_short | Why do business angels invest? Uncovering angels’ goals |
| title_sort | why do business angels invest uncovering angels goals |
| topic | angel goals business angel identity investor goals entrepreneur self-development |
| url | https://www.tandfonline.com/doi/10.1080/23311975.2023.2234134 |
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