Journal ArticleDOI
Angels and non-angels: Are there differences?
TLDR
In this paper, the authors examined the characteristics of high-net-worth individuals regardless of their investment history or their interest in venture investing and found that the potential investor tends to view investing in entrepreneurial ventures on a smaller scale than the active investor, especially in terms of the dollar amount committed to any one investment.About:
This article is published in Journal of Business Venturing.The article was published on 1994-03-01. It has received 210 citations till now. The article focuses on the topics: Social venture capital & Venture capital.read more
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Signaling in Equity Crowdfunding
TL;DR: In this article, the authors examine the impact of firms' financial roadmaps (e.g., pre-planned exit strategies such as IPOs or acquisitions), external certification (awards, government grants and patents), internal governance (such as board structure), and risk factors ( such as amount of equity offered and the presence of disclaimers) on fundraising success.
Journal ArticleDOI
Signaling in Equity Crowdfunding
TL;DR: In this paper, the authors examine the impact of venture quality (human capital, social [alliance] capital, and intellectual capital) and uncertainty on fundraising success and highlight that retaining equity and providing more detailed information about risks can be interpreted as effective signals and can therefore strongly impact the probability of funding success.
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Crowd-Funding: Transforming Customers into Investors through Innovative Service Platforms
TL;DR: In this paper, the authors analyze the emerging crowd-funding phenomenon, that is a collective effort by consumers who network and pool their money together, usually via the internet, to invest in and support efforts initiated by other people or organizations.
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Experienced entrepreneurial founders, organizational capital, and venture capital funding
TL;DR: In this article, the authors empirically investigated the sourcing and valuation of venture capital (VC) funding among entrepreneurs with varied levels of prior start-up founding experience, academic training, and social capital.
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Financing and Advising: Optimal Financial Contracts with Venture Capitalists
TL;DR: In this paper, the joint provision of effort by an entrepreneur and an advisor to improve the productivity of an investment project is analyzed, and it is shown that without moral hazard, it is optimal that both exert effort is more efficient than the advisor's effort.
References
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Journal ArticleDOI
Estimating Nonresponse Bias in Mail Surveys
TL;DR: This article used subjective estimates and extrapolations in an analysis of mail survey data from published studies for estimates of the magnitude of bias and found that the use of extrapolation led to substantial improvements over a strategy of not using extrapolation.
Posted Content
Estimating Nonresponse Bias in Mail Surveys
JS Armstrong,Terry Overton +1 more
TL;DR: Valid predictions for the direction of nonresponse bias were obtained from subjective estimates and extrapolations in an analysis of mail survey data from published studies and the use of extrapolation led to substantial improvements over a strategy of not using extrapolation.
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Some hypotheses about risk in venture capital investing
John C. Ruhnka,John E. Young +1 more
TL;DR: In this article, the authors developed a behavioral framework to predict how venture capital managers will behave in choosing between various investment opportunities in order to minimize risk and to maximize potential returns, based on the psychological risk theory of decision-making under uncertainty.
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Who bankrolls high-tech entrepreneurs?
John Freear,William E. Wetzel +1 more
TL;DR: In this paper, financial histories were collected from 284 technology-based firms founded in New England between 1975 and 1986 to answer the question "Where do new technology based firms (NTBFs) raise outside equity capital?"
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Informal risk capital investors: Investment patterns on the East Coast of the U.S.A.
TL;DR: In this paper, the authors profile a group of informal investors, their investment criteria and the nature of their referral network and find that over 65% of the sample investments were in startups.