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07-06-2014 | Reviews and overviews

Business angel post-investment activities: a multi-level review

Authors: Andreas Fili, Jaan Grünberg

Published in: Journal of Management and Governance | Issue 1/2016

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Abstract

In this article, empirical research on post-investment activities of business angels is reviewed and conceptualized as five distinct governance processes: boundary spanning, structuring, leadership, doing, and monitoring. These processes have the potential to reduce the exposure of business angels to relational risk and market risk. The identification of these governance processes also contributes towards understanding the social aspect of business angels’ post investment involvement. In particular, it is shown how the recognition of the cognitive/institutional dimension opens up for new questions about post-investment involvement. Finally, it is proposed that venture performance can be enhanced in practice if business angels and venture members develop skills that are connected to the governance processes.

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Title: Business angel post-investment activities: a multi-level review
Authors: Andreas Fili
Jaan Grünberg
Publication date: 07-06-2014
Publisher: Springer US
Published in: Journal of Management and Governance / Issue 1/2016
Print ISSN: 1385-3457
Electronic ISSN: 1572-963X
DOI: https://doi.org/10.1007/s10997-014-9296-7

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