In recent years governments around the world have introduced policies to stimulate investments in early stage entrepreneurial companies, in particular investments by Angel investors. In this paper we study whether introducing subsidies to Angel investors has effects on startups’ access to...

This study examines the relationships among angel investor-entrepreneur relationship conflicts, task conflicts and goal conflicts on the one hand and their intentions to exit on the other. I evaluate the hypotheses with survey data from 65 angel investors and 72 entrepreneurs belonging to 54...

The venture capital literature has established the positive impact of coinvestment networks on the performance of start-up investments. In early stages, however, often angel financing is the primary source of external equity. Using a novel in-depth data set of U.S. high technology start-ups we...

Understanding an entrepreneurial finance ecosystem requires an appreciation of how different investors interact with each other. Angels and venture capitalists constitute two very important investors in start-ups. We develop and empirically test hypotheses about the interactions between these...

The present research links business angels' cognitive and behavioral features and co-investment practice with professional venture funds in explaining differential rates of growth. Using a questionnaire survey we were able to gather a unique dataset concerning the characteristics, investment...

We provide empirical evidence of the post-investment performance and survivorship profile of angel-backed companies, filling a long-standing gap within the entrepreneurial finance literature. Using a unique database of 111 angel-backed companies that received angel investments between 2008 and...

We use actual negotiations between angel investors and entrepreneurs to study the impact of personal characteristics on investment outcomes. We construct a unique dataset with 707 investment requests led by 1,089 entrepreneurs and find that the personal characteristics of the entrepreneur,...

In recent years governments around the world have introduced policies to stimulate investments in early stage entrepreneurial companies, in particular investments by Angel investors. In this paper we study whether introducing subsidies to Angel investors has effects on startups’ access to...