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Handbook of Research on Business Angels
This book synthesizes 30 years of research on business angels by charting the significant role they play in the financing of entrepreneurial businesses in both developed and emerging economies. The expert group of contributors examine business angels themselves, the evolution of the market and the role of public policy in influencing angel investment. Finally, the editors provide an agenda for future research on business angels.
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Critical Acclaim
Contributors
Contents
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Business angels are recognized as playing a key role in financing the start-up and early stages of new ventures. However, our knowledge of how business angels operate remains limited and highly fragmented. This Handbook provides a synthesis of research on business angels. It adopts an international perspective to reflect the spread of angel investing around the world. The increasing number of government initiatives to promote angel investing is also reflected in the book with an assessment of the most common support schemes.
Adopting an international focus, the expert group of contributors examine business angels themselves, the evolution of the market, the various stages of the investment process and the role of public policy in influencing angel investment. They each conclude their chapters with an agenda for future research on business angels.
Students and scholars of entrepreneurship, entrepreneurial finance and related subjects will find this book to be an invaluable resource for their work. In particular, they will benefit from the research agendas that conclude each chapter. This Handbook will also be of interest to policy-makers and other practitioners looking to enhance their understanding of the design and need for such interventions.
Adopting an international focus, the expert group of contributors examine business angels themselves, the evolution of the market, the various stages of the investment process and the role of public policy in influencing angel investment. They each conclude their chapters with an agenda for future research on business angels.
Students and scholars of entrepreneurship, entrepreneurial finance and related subjects will find this book to be an invaluable resource for their work. In particular, they will benefit from the research agendas that conclude each chapter. This Handbook will also be of interest to policy-makers and other practitioners looking to enhance their understanding of the design and need for such interventions.
Critical Acclaim
‘The Handbook of Research on Business Angels provides an excellent summary of the state of the art in angel investing. With all of the articles compiled within the unifying theme of the latest business angel research the Handbook is a must-read for academics, policy-makers and anyone who wishes to gain an in-depth understanding of the current thoughts and trends in business angel investing.’
– Jeffrey E. Sohl, University of New Hampshire, US
‘The Handbook of Research on Business Angels provides an up-to-date overview of important topics in business angel research. It explores novel areas, such as research on business angels in emerging economies, and how crowdinvesting relates to business angels. This volume is a must-read for anyone considering starting research on business angels.’
– Sophie Manigart, Ghent University, Belgium
‘It is not possible for government to have a coherent and integrated innovation/enterprise policy without supporting new venture finance and, critically, business angels. Landström and Mason’s timely compendium of our evolving research knowledge takes us significantly closer to knowing “the unknown and unknowable”. Its inclusive world perspective embracing developed and emerging economies is particularly welcome. Similarly, analyses of women investors, tax incentives, BA Networks, and the potential importance of “equity crowdfunding” are each central to our understanding. This Handbook is of material value to scholars and policy practitioners alike.’
– Gordon Murray, University of Exeter, UK
– Jeffrey E. Sohl, University of New Hampshire, US
‘The Handbook of Research on Business Angels provides an up-to-date overview of important topics in business angel research. It explores novel areas, such as research on business angels in emerging economies, and how crowdinvesting relates to business angels. This volume is a must-read for anyone considering starting research on business angels.’
– Sophie Manigart, Ghent University, Belgium
‘It is not possible for government to have a coherent and integrated innovation/enterprise policy without supporting new venture finance and, critically, business angels. Landström and Mason’s timely compendium of our evolving research knowledge takes us significantly closer to knowing “the unknown and unknowable”. Its inclusive world perspective embracing developed and emerging economies is particularly welcome. Similarly, analyses of women investors, tax incentives, BA Networks, and the potential importance of “equity crowdfunding” are each central to our understanding. This Handbook is of material value to scholars and policy practitioners alike.’
– Gordon Murray, University of Exeter, UK
Contributors
Contributors: F.M. Amatucci, M. Atienza, S. Avdeitchikova, T. Botelho, C. Carpentier, V. Collewaert, L. Hornuf, H. Keinonen, T. Lahti, H. Landström, D. Lingelbach, M. Liu, C. Mason, A. Maxwell, D. Politis, G. Romani, W. Scheela, A. Schwienbacher, J.-M. Suret, R. Sørheim, Y. Tan, J. Wang
Contents
Contents:
1. Business Angels as a research field
Hans Landström and Colin Mason
2. Researching Business Angels: Definitional and data challenges
Colin Mason
3. The economic significance of Business Angels: Towards comparable indicators
Sofia Avdeitchikova and Hans Landström
4. Categorisations of Business Angels: An Overview
Roger Sørheim and Tiago Botelho
5. Women Business Angels: Theory and Practice
Frances M. Amatucci
6. Investment decision making by Business Angels
Andrew Maxwell
7. Business Angels as smart investors: A systematic review of the evidence
Diamanto Politis
8. Angel-entrepreneur relationships: demytisfying their conflicts
Veroniek Collewaert
9. Business Angels in China: Characteristics, policies and international comparison
Jiani Wang, Yi Tan and Manhong Liu
10. Business Angels in emerging economies: Southeast Asia
William Scheela
11. Business Angels in Sub-Saharan Africa
David Lingelbach
12. Business Angels in developing economies: The experience of Latin America
Gianni Romani and Miguel Atienza
13. The effectiveness of tax incentives for Business Angels
Cécile Carpentier and Jean-Marc Suret
14. Business Angel Networks: A review and assessment of their value to entrepreneurship
Tom Lahti and Henrik Keinonen
15. Crowdinvesting – Angel investing for the masses?
Lars Hornuf and Armin Schwienbacher
Index
1. Business Angels as a research field
Hans Landström and Colin Mason
2. Researching Business Angels: Definitional and data challenges
Colin Mason
3. The economic significance of Business Angels: Towards comparable indicators
Sofia Avdeitchikova and Hans Landström
4. Categorisations of Business Angels: An Overview
Roger Sørheim and Tiago Botelho
5. Women Business Angels: Theory and Practice
Frances M. Amatucci
6. Investment decision making by Business Angels
Andrew Maxwell
7. Business Angels as smart investors: A systematic review of the evidence
Diamanto Politis
8. Angel-entrepreneur relationships: demytisfying their conflicts
Veroniek Collewaert
9. Business Angels in China: Characteristics, policies and international comparison
Jiani Wang, Yi Tan and Manhong Liu
10. Business Angels in emerging economies: Southeast Asia
William Scheela
11. Business Angels in Sub-Saharan Africa
David Lingelbach
12. Business Angels in developing economies: The experience of Latin America
Gianni Romani and Miguel Atienza
13. The effectiveness of tax incentives for Business Angels
Cécile Carpentier and Jean-Marc Suret
14. Business Angel Networks: A review and assessment of their value to entrepreneurship
Tom Lahti and Henrik Keinonen
15. Crowdinvesting – Angel investing for the masses?
Lars Hornuf and Armin Schwienbacher
Index
