Investment motivations and UK business angels' appetite for risk taking: The moderating role of experience
Journal article
Croce, Annalisa, Ughetto, Elisa and Cowling, Marc 2019. Investment motivations and UK business angels' appetite for risk taking: The moderating role of experience. British Journal of Management. https://doi.org/10.1111/1467-8551.12380
| Authors | Croce, Annalisa, Ughetto, Elisa and Cowling, Marc |
|---|---|
| Abstract | In this paper we use a large UK survey of business angels (BAs) investing in two different publicly supported schemes to directly question the role that investment motivations play in shaping investors’ appetite for risk. We dive deeper into the relationship between investment reasons and risk taking, by exploring the potential for a moderating effect derived from BAs’ past experience (i.e. financial and entrepreneurial experience). Our analysis reveals that both investment reasons (for return and for passion) have substantial explanatory power in shaping angels’ risk attitude, but their effect is moderated by the investors’ |
| Keywords | Business Angels; Motivations; Risk Capital |
| Year | 2019 |
| Journal | British Journal of Management |
| Publisher | Wiley |
| ISSN | 1467-8551 |
| Digital Object Identifier (DOI) | https://doi.org/10.1111/1467-8551.12380 |
| Web address (URL) | http://hdl.handle.net/10545/625390 |
| http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
| hdl:10545/625390 | |
| Publication dates | 13 Aug 2019 |
| Publication process dates | |
| Deposited | 18 Nov 2020, 16:53 |
| Accepted | 26 Jul 2019 |
| Rights | Attribution-NonCommercial-NoDerivatives 4.0 International |
| Contributors | Politecnico di Milano, Milan, Italy, Collegio Carlo Alberto, Torino, Italy and University of Derby |
| File | File Access Level Open |
| File | File Access Level Open |
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