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What's in it for me?: the perceived investment value of business angels

2023-11-14Artigo científico Acesso aberto
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dc.contributor.authorFalcão, Rui
dc.contributor.authorMoreira, Antonio
dc.contributor.authorCarneiro, Maria João
dc.date.accessioned2026-02-12T11:22:03Z
dc.date.available2026-02-12T11:22:03Z
dc.date.issued2023-11-14en_US
dc.date.updated2026-01-26T19:55:18Z
dc.description.abstractBesides the extraordinary impact of Business Angels (BAs) as the leading contributors to fund entrepreneurship at the early stage, the value BAs perceive from their investment activity has not yet been fully explored. Based on a new holistic perspective resulting from marketing and consumer behaviour, this article builds on the concept of perceived investment value to create a new instrument that measures the overall value perceived by BAs in their investing activity. Data were collected through a survey questionnaire with 849 BAs from 79 countries. The instrument created was tested through Structural Equation Modelling. The results reveal that: (i) BAs are not purely financial investors and expect more than just money from their activity, as self-esteem, entrepreneurship, emotion and altruism are the main dimensions that explain angel perceived investment value (APIV), with economic and functional dimensions being the least influential; (ii) APIV positively influences their job satisfaction; and (iii) angels satisfied with their jobs are more likely to reinvest their money and engage in positive word-of-mouth. A multigroup comparison was implemented, validating the results for males and females, novices and veterans and light and heavy investors.eng
dc.description.versioninfo:eu-repo/semantics/publishedVersion
dc.identifier.doi10.1177/14657503231213310en_US
dc.identifier.issn1465-7503en_US
dc.identifier.issn2043-6882en_US
dc.identifier.slugcv-prod-3515146
dc.identifier.urihttp://hdl.handle.net/10400.2/21255
dc.language.isoeng
dc.peerreviewedyes
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectBusiness angel
dc.subjectAngel investor
dc.subjectPerceived investment value
dc.subjectAngel perceived investment value
dc.subjectEntrepreneur
dc.subjectAngel network
dc.subjectInvestor goals
dc.titleWhat's in it for me?: the perceived investment value of business angelseng
dc.typejournal article
dspace.entity.typePublication
oaire.citation.titleThe International Journal of Entrepreneurship and Innovationen_US
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85
person.familyNameMoreira
person.givenNameAntonio
person.identifier.orcid0000-0002-6613-8796
rcaap.cv.cienciaid541F-5442-5666 | António Carrizo Moreira
rcaap.rightsrestrictedAccessen_US
relation.isAuthorOfPublication51ad303d-335c-4e2f-bae3-fffffef2e2f5
relation.isAuthorOfPublication.latestForDiscovery51ad303d-335c-4e2f-bae3-fffffef2e2f5

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