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The evolution of business angels’ networks and institutional change: a longitudinal case study

Research output: Contribution to conference - Without ISBN/ISSN Conference paperpeer-review

Publication date2/07/2019
<mark>Original language</mark>English
EventEntrepreneurial Finance Conference 2019 - Park Plaza Hotel, Trier, Germany
Duration: 2/07/20193/07/2019


ConferenceEntrepreneurial Finance Conference 2019


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.