Mason, Colin (2010) Angel investment decision making as a learning process. [Report]Full text not available in this repository. (Request a copy from the Strathclyde author)
This paper extends the literature on the investment decision-making of business angels. Using insights from entrepreneurial learning theory, particularly the use of heuristics and the nature of learning from meagre experience, we explore whether angels learn from experience, how they learn and what they learn. These issues are addressed using verbal protocol analysis, a methodology for examining decision-making in real time, on three groups of business angels with differing levels of investment experience, and on follow-up interviews with these angels. This reveals some differences in the speed of decision making and the emphasis given to various investment criteria. There is some evidence for the use of heuristics in the decision making process, and for the critical role played by vicarious learning from the experience of others. Learning in the individual angel decision making process is a social as well as individual phenomenon.
|Keywords:||angel investment , entrepreneurial learning theory , business angels, Commerce|
|Subjects:||Social Sciences > Commerce|
|Department:||Strathclyde Business School > Hunter Centre For Entrepreneurship|
|Depositing user:||Pure Administrator|
|Date Deposited:||23 Apr 2012 11:12|
|Last modified:||12 Jan 2017 01:11|