Harrison, R. T., Mason, C. and Smith, D. (2015) Heuristics, learning and the business angel investment decision-making process. Entrepreneurship and Regional Development, 27(9-10), pp. 527-554. (doi: 10.1080/08985626.2015.1066875)
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Abstract
Using insights from the emerging body of research on entrepreneurial learning processes, particularly the use of heuristics and the nature of learning from meagre experience, we explore whether angels learn from experience, how they learn and what they learn. These issues are addressed using verbal protocol analysis, a methodology for examining decision-making in real time, with three groups of business angels with differing levels of investment experience, and with follow-up debriefing interviews with these angels. This reveals some differences in the speed of decision making and the emphasis given to various investment criteria. There is some evidence for the use of heuristics in the decision making process, and for the critical role played by vicarious learning from the experience of others. Learning in the individual angel decision making process is a social as well as an individual phenomenon.
Item Type: | Articles |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Mason, Professor Colin |
Authors: | Harrison, R. T., Mason, C., and Smith, D. |
College/School: | College of Social Sciences > Adam Smith Business School > Management |
Journal Name: | Entrepreneurship and Regional Development |
Publisher: | Routledge |
ISSN: | 0898-5626 |
ISSN (Online): | 1464-5114 |
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