Factors Influencing Business Angel’s Investment Decision
Main Article Content
Abstract
The article provided some factors influencing angel’s investment decisions. Using secondary data from official sources, the author analyzed the impact of factors based on two perspectives: the perspective from startup and the perspective from the government and the business environment. The author provided examples of some countries to illustrate each group of factors. Based on that, the article has made suggestions for startups to fully prepare for calling angel investor successfully, and also suggesting some policy implications for the government improving the business environment in order to promote angel investments.
Keywords:
Factors, business angels/angel investors, startups.
References
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[2] C.M. Mason, R.T. Harrison, “Measuring business angel investment activity in the United Kingdom: A review of potential data sources”, Venture Capital, 2008, pp. 9-30
[3] E. Gimmon, J. Levie, Founder’s human capital, external investment, and the survival of new high-technology ventures, Research Policy, 2010, pp. 3-13.
[4] J.D. Levie, E. Gimmon, Mixed Signals: Why investors may misjudge first time high technology founders, Venture Capital, 2008, pp. 3-19.
[5] D. Senor, S. Singer, Start-up Nation: A story of Israel’s Economic Miracle, Hachette Book Group, 2009.
[6] IVC, Summary of Israeli HighTech Company Capital Raising- Q4/2016, 2016.
[7] OECD, SME Policy Index: The Mediterranean Middle East and North Africa 2014 Implementation of the Small Business Act for Europe: Implementation of the Small Business Act for Europe, OECD Publishing, Paris, 2014.
[8] World Economic Forum, The Global Competitiveness Report 2018, 16 October 2018, https://www.weforum.org/reports/the-global-competitveness-report/, 2018 (accessed on 20 September 2019).
[9] G. Baygan, Venture Capital Policy Review: Israel, Industry Issues, 2003, pp. 15-16.
[10] SME policy index: The Mediterranean Middle East and North Africa 2014 (2014) Secretary General of OECD, 2014, pp. 128-129.
[11] W. Bygrave, M. Hay, N. Emily, P. Reynolds, Executive forum: a study of informal investing in 29 nations composing the Global Entrepreneurship Monitor, Venture Capital, 2003, pp. 3-9.
[12] J.L. Christensen, Should government support business angel networks? The tale of Danish business angel's network, Venture. Cap. 13 (4) (2011) 337-356.
[13] C.M. Mason, Public policy support for the informal venture capital market in Europe: A critical review, Int, Small Bus. J. 27 (5) (2009) 1-19
[14] Competitiveness in South East Europe, Secretary General of OECD, 2018, pp. 159-180.
[15] OECD, Financing High-Growth Firms: The Role of Angel Investor, OECD Publishing, Paris, 2011.
[16] Website www. Pendata.cn
[17] Wang, Jiani, Tan, Yi, Liu, Manhong, Business angels in China: Characteristics, policies and international comparison Handbook of research on business angels, Edward Elgar Publishing Limited, 2016, pp. 201-233.