TY - CONF

T1 - The evolution of business angels’ networks and institutional change

T2 - Entrepreneurial Finance Conference 2019

AU - Xiao, Li

AU - Anderson, Alistair

PY - 2019/7/2

Y1 - 2019/7/2

N2 - Recognising the importance of personal network ties for angel finance, we build on the existing literature by offering a longitudinal study that maps and explains changes during two decades of institutional transitions. Although personal network were argued to substitute for institutional voids, our Chinese longitudinal case studies demonstrate that, regardless markedly improved formal institutions, network ties remain useful and important. We see a shift from substitution for, to complementing more formal regimes. Significantly, the personalisation of decision making processes functions to facilitate, rather than control the investment. We emphasise the continuing and profoundly socialised nature of investment and enterprising practices.

AB - Recognising the importance of personal network ties for angel finance, we build on the existing literature by offering a longitudinal study that maps and explains changes during two decades of institutional transitions. Although personal network were argued to substitute for institutional voids, our Chinese longitudinal case studies demonstrate that, regardless markedly improved formal institutions, network ties remain useful and important. We see a shift from substitution for, to complementing more formal regimes. Significantly, the personalisation of decision making processes functions to facilitate, rather than control the investment. We emphasise the continuing and profoundly socialised nature of investment and enterprising practices.

M3 - Conference paper

Y2 - 2 July 2019 through 3 July 2019

ER -