Business angels in a changing economy: The case of Sweden

Nils Månsson and Hans Landström

Venture Capital, 2006, vol. 8, issue 4, 281-301

Abstract: The Swedish business angel market of 2004 is presented and compared to that of 1992 in order to determine the significance of the time factor. The presentation is carried out against the background of the macroeconomic changes that have taken place and how they have affected the informal venture capital market. The empirical findings reveal how the amounts invested have changed, which companies the business angels have invested in and the ways in which the business angels' deal flow has changed since 1992. The results show that business angels in Sweden have become more professional in their way of identifying new investment opportunities and that the informal venture capital market is becoming more mature with less information asymmetry. Furthermore, the results demonstrate that Internet hype and changes in the Swedish taxation system have probably influenced the business angel market, making investors invest at earlier stages and in high-tech companies.

Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/13691060600836275 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:veecee:v:8:y:2006:i:4:p:281-301

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/TVEC20

DOI: 10.1080/13691060600836275

Access Statistics for this article

Venture Capital is currently edited by Colin Mason and Richard T. Harrison

More articles in Venture Capital from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().