The transformation of the business angel market: empirical evidence and research implications

Mason, C. , Botelho, T. and Harrison, R. (2016) The transformation of the business angel market: empirical evidence and research implications. Venture Capital, 18(4), pp. 321-344. (doi: 10.1080/13691066.2016.1229470)

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Abstract

Business angel investing – a key source of finance for entrepreneurial businesses – is rapidly evolving from a fragmented and largely anonymous activity dominated by individuals investing on their own to one that is increasingly characterised by groups of investors investing together through managed angel groups. The implications of this change have been largely ignored by scholars. The paper examines the investment activity and operation of angel groups in Scotland to highlight the implications of this change for the nature of angel investing. It goes on to argue that this transformation challenges both the ongoing relevance of prior research on business angels and current methodological practices, and raises a set of new research questions.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Botelho, Tiago and Mason, Professor Colin
Authors: Mason, C., Botelho, T., and Harrison, R.
College/School:College of Social Sciences > Adam Smith Business School > Management
Journal Name:Venture Capital
Publisher:Taylor and Francis (Routledge)
ISSN:1369-1066
ISSN (Online):1464-5343
Published Online:13 September 2016
First Published:First published in Venture Capital 18(4):321-344
Publisher Policy:Reproduced in accordance with the copyright policy of the publisher

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Project CodeAward NoProject NamePrincipal InvestigatorFunder's NameFunder RefLead Dept
626211Early Exit Strategies of Business Angel InvestorsColin MasonEconomic & Social Research Council (ESRC)ESRC/BSB/08BUS - MANAGEMENT