Rui Falcao, Antonio Carrizo Moreira and Maria João Carneiro
The business angels market dramatically changed the modus operandi and nature of business angels’ activity, evolving from lone investors to angel groups managed professionally…
Abstract
Purpose
The business angels market dramatically changed the modus operandi and nature of business angels’ activity, evolving from lone investors to angel groups managed professionally. This paper aims to analyze the impact of angel perceived career development on angel satisfaction and, consequently, on their intention to continue investing.
Design/methodology/approach
A model was tested through covariance-based structural equation modeling (SEM) using AMOS based on data collected from 336 business angels from seven European countries.
Findings
The results highlight that: the perception of personal development is a decisive factor in pursuing the career of business angel; personal development has a higher explanatory power in angel career development than fostering innovation; and the perception of career development has positive impacts on angels’ job satisfaction and reinvestment intention. The paper ends with implications and guidelines for angels, gatekeepers and entrepreneurs, which may increase satisfaction with the angel experience and contribute to enriching business angel work.
Research limitations/implications
Cross-sectional self-reported data were used to analyze the results of this study.
Originality/value
To paper extends the body of knowledge of business angels’ perceived career development, with implications for business angels, which may increase satisfaction with angel experience and, therefore, contribute to enhancing business angels’ activity. Thus, this study provides a consistent reference for forthcoming studies regarding the career of business angels and their relationship with entrepreneurs.
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This study aims to analyze the contribution of business angels (BAs), defined as wealthy individuals who provide risk capital to entrepreneurial firms without family connections…
Abstract
Purpose
This study aims to analyze the contribution of business angels (BAs), defined as wealthy individuals who provide risk capital to entrepreneurial firms without family connections, in Estonia, an emerging country in Eastern Europe.
Design/methodology/approach
This study compared the data of the financial and non-financial performance of BA-backed firms with that of “twin” non-BA-backed firms, extracted from all Estonian unlisted firms using propensity score matching.
Findings
The results of the comparative analysis showed that BAs were patient enough to allow their investees to spend for future growth rather than squeezing profit from increased sales. This is not patience without options for a BA in a situation in which the investee's sales are deteriorating, but rather deliberate patience in the presence of options for a BA where the investee's sales growth is increasing, contrary to conventional investor behavioral principles. It also showed that BAs' post-investment involvement did not make a direct contribution to their investees' sales, although BAs contributed to the sales increase through BA funding itself.
Originality/value
This study has two unique research contributions. First, it shows that the patience of BAs was not a by-product but was intentional, and adds to the debate on whether BAs are patient investors. Second, there are only a few studies on the contribution of BAs to their investees in emerging countries; this study aims to help fill this research gap using the case of Estonia.
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This article demonstrates the implementation and efficacy of Problem-Based Learning (PBL) in an undergraduate entrepreneurship business planning course. Throughout the course…
Abstract
This article demonstrates the implementation and efficacy of Problem-Based Learning (PBL) in an undergraduate entrepreneurship business planning course. Throughout the course, ill-structured problems arise that require independent thinking and ongoing problem solving with students taking responsibility for their own learning. The course incorporates the latest classroom technology and how that technology is utilized to deliver self-directed learning. The PBL methodology is then evaluated in light of anonymous student survey results. The objective is to create a framework for future assessment in evaluating PBL in the business planning course.
Kerstin Sahlin and Ulla Eriksson-Zetterquist
Over the past few decades, university reforms in line with management and enterprise ideals have been well documented. Changes in the ideals underlying the missions of…
Abstract
Over the past few decades, university reforms in line with management and enterprise ideals have been well documented. Changes in the ideals underlying the missions of universities have led to changes in their modes of governing and organizing, which in turn drive further transformation of their missions. One set of reforms in Swedish higher education has been the dissolution of collegial bodies and procedures. At the same time, in recent years, we have witnessed an increased interest in collegiality and a reintroduction of collegial bodies and procedures. New translations of collegiality appear not only in how universities are organized, but also in other core aspects of research and higher education. We review examples of peer reviewing, research assessment, and direct recruitment of professors and ask: Can these new translations of collegiality be understood as a revitalization of collegiality, or is it – to draw a parallel with greenwashing – rather a matter of collegiality-washing?
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Professor Helen Walker, Professor Stefan Seuring, Professor Joseph Sarkis and Professor Robert Klassen