Attributes of Angel and Crowdfunded Investments as Determinants of VC Screening Decisions

被引：124
作者：
Drover, Will [1 ]
Wood, Matthew S. [2 ]
Zacharakis, Andrew [3 ]
机构：
[1] Univ Oklahoma, Price Coll Business, Div Entrepreneurship & Econ Dev, Entrepreneurship, 307 West Brooks, Norman, OK 73019 USA
[2] Baylor Univ, Hankamer Sch Business, Dept Entrepreneurship, Entrepreneurship, One Bear Pl 98006, Waco, TX 76798 USA
[3] Babson Coll, Entrepreneurship, Wellesley, MA USA
来源：
ENTREPRENEURSHIP THEORY AND PRACTICE | 2017年 / 41卷 / 03期
关键词：
VENTURE CAPITALISTS; START-UP; REPUTATION; CERTIFICATION; ENTREPRENEURS; INFORMATION; INVESTORS; PERFORMANCE; MANAGEMENT; BANKING;
D O I：
10.1111/etap.12207
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This research explores whether relationships between young firms and certain early-stage seed funders portray certification effects that influence venture capitalist (VC) screening decisions. Specifically, we analyze how varying attributes of angel and crowdfunded investments certify venture quality in the minds of VCs as they make due diligence screening decisions. Results from two experiments utilizing 104 VCs making 1,036 screening decisions demonstrate that the heterogeneous nature of the attributes of angels and the crowd can produce highly influential certification effects.
引用
收藏
页码：323 / 347
页数：25
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