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Asia Pacific Journal of Management

Erschienen in:

01.09.2014

Angel investors’ selection criteria: A comparative institutional perspective

verfasst von: Zhujun Ding, Sunny Li Sun, Kevin Au

Erschienen in: Asia Pacific Journal of Management | Ausgabe 3/2014

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Abstract

Despite the important role of angel investors as critical financial providers for new ventures, little is known regarding how the institutions present in very different institutional environments impact their investment decisions. While angel investors might be expected to make decisions based on similar selection criteria, they are also embedded within and affected by different institutional settings in which they invest, and as a result they give these criteria weight that are different from those of other investors. We compare angel investors’ selection criteria in China and Denmark utilizing a comparative institutional perspective. Utilizing a policy-capturing approach to understanding their decision criteria, we find that angel investors in China, embedded within relationship-based institutions, tend to rely more on strong ties such as family and friends in the management team. They also give risks less weight as compared with angel investors in Denmark, which operate within more rule-based institutional contexts. As with venture capitalists, angel investors modify their decision criteria to fit the local institutional conditions.

Vorheriger Artikel Entrepreneurial firms’ network competence, technological capability, and new product development performance

Nächster Artikel Variance-enhancing corporate entrepreneurship under deregulation: An option portfolio approach

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Titel: Angel investors’ selection criteria: A comparative institutional perspective
verfasst von: Zhujun Ding
Sunny Li Sun
Kevin Au
Publikationsdatum: 01.09.2014
Verlag: Springer US
Erschienen in: Asia Pacific Journal of Management / Ausgabe 3/2014
Print ISSN: 0217-4561
Elektronische ISSN: 1572-9958
DOI: https://doi.org/10.1007/s10490-014-9374-z

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