Business angel post-investment activities: a multi-level review

Andreas Fili () and Jaan Grünberg

Journal of Management & Governance, 2016, vol. 20, issue 1, 89-114

Abstract: In this article, empirical research on post-investment activities of business angels is reviewed and conceptualized as five distinct governance processes: boundary spanning, structuring, leadership, doing, and monitoring. These processes have the potential to reduce the exposure of business angels to relational risk and market risk. The identification of these governance processes also contributes towards understanding the social aspect of business angels’ post investment involvement. In particular, it is shown how the recognition of the cognitive/institutional dimension opens up for new questions about post-investment involvement. Finally, it is proposed that venture performance can be enhanced in practice if business angels and venture members develop skills that are connected to the governance processes. Copyright Springer Science+Business Media New York 2016

Keywords: Review; Business angels; Post-investment involvement; Governance processes; Organizational membership (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s10997-014-9296-7

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