Journal of Corporate Finance Vol. 66 2021
Network dynamics in business angel group investment decisions
open access
Abstract
Investors within a Business Angel (BA) group are embedded in a cohesive network of relationships that arises from past joint investments. In this paper, we have studied how the network position of a BA within this network affects the likelihood that a company will receive investments from the BA group. We have hypothesized a curvilinear, inverse U-shaped relationship between the centrality of the BA and the probability of a company being funded by the BA group. Moreover, we have explored how the experience of a BA and the geographical proximity between the BA and the company influence such a relationship.
- DOI
- 10.1016/j.jcorpfin.2020.101812
- Volume
- 66
- Pages
- 101812
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref