How entrepreneurs seduce business angels: An impression management approach

Annaleena Parhankangas and Michael Ehrlich

Journal of Business Venturing, 2014, vol. 29, issue 4, 543-564

Abstract: This paper develops and tests a set of hypotheses concerning how impression management strategies deployed by entrepreneurs affect their likelihood to secure funding. We test our propositions on a sample of nascent ventures seeking business angel funding in the New York metropolitan area. Our results suggest that business angels prefer investment proposals characterized by the moderate use of positive language, moderate levels of promotion of innovation, supplication and blasting of competition, and high levels of opinion conformity.

Keywords: Impression management; Business angels; Entrepreneurial finance (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (77)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbvent:v:29:y:2014:i:4:p:543-564

DOI: 10.1016/j.jbusvent.2013.08.001

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