Angel Cognition, Human Capital, and Active Involvement in Business-Angel-Networks’ Governance and Management

40 Pages Posted: 17 Feb 2017

See all articles by Peter Wirtz

Peter Wirtz

University of Lyon 3

Christophe Bonnet

Grenoble Ecole de Management

Laurence Cohen

University of Lyon 3

Date Written: February 17, 2017

Abstract

The present research sets out to reach a better understanding of the determinants of business angels’ active involvement in making BANs accomplish diverse functions and building cognitive resources and shared competencies. We propose a framework where angels’ human capital and cognitive process (in terms of predictive vs. control-oriented behavior) are key in explaining their degree and type of involvement with diverse BAN activities. To test the related assumptions, we conducted a questionnaire survey with the members of one of the largest French business angel networks. Our results show that business angels with a control-oriented decision-making style, as well as angels with previous professional experiences in marketing and sales, strategy, or as a CEO tend to be more actively involved in key BAN activities, both at the network level and at the investee ventures level.

Keywords: business angel network, BAN activities, involvement, governance, management, cognitive process

JEL Classification: G24

Suggested Citation

Wirtz, Peter and Bonnet, Christophe and Cohen, Laurence, Angel Cognition, Human Capital, and Active Involvement in Business-Angel-Networks’ Governance and Management (February 17, 2017). 2017 Emerging Trends in Entrepreneurial Finance Conference. Available at SSRN: https://ssrn.com/abstract=2919383 or http://dx.doi.org/10.2139/ssrn.2919383

Peter Wirtz (Contact Author)

University of Lyon 3 ( email )

1 rue de Université
B.P. 0638
Lyon, 69007
France

Christophe Bonnet

Grenoble Ecole de Management ( email )

12 Rue Pierre Semard
Grenoble, Cedex 01 38000
France

Laurence Cohen

University of Lyon 3 ( email )

1 rue de Université
B.P. 0638
Lyon, 69007
France

Register to save articles to
your library

Register

Paper statistics

Downloads
80
Abstract Views
462
rank
314,225
PlumX Metrics