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dc.contributor.authorCroce, Annalisa
dc.contributor.authorUghetto, Elisa
dc.contributor.authorCowling, Marc
dc.date.accessioned2020-11-18T16:53:12Z
dc.date.available2020-11-18T16:53:12Z
dc.date.issued2019-08-13
dc.identifier.citationCroce, A., Ughetto, E. and Cowling, M., (2020). Investment motivations and UK business angels’ appetite for risk taking: The moderating role of experience. British Journal of Management, 31(4), pp. 728-751.en_US
dc.identifier.doi10.1111/1467-8551.12380
dc.identifier.urihttp://hdl.handle.net/10545/625390
dc.description.abstractIn this paper we use a large UK survey of business angels (BAs) investing in two different publicly supported schemes to directly question the role that investment motivations play in shaping investors’ appetite for risk. We dive deeper into the relationship between investment reasons and risk taking, by exploring the potential for a moderating effect derived from BAs’ past experience (i.e. financial and entrepreneurial experience). Our analysis reveals that both investment reasons (for return and for passion) have substantial explanatory power in shaping angels’ risk attitude, but their effect is moderated by the investors’ prior experience. This key finding represents important empirical support for what has so far been anecdotal evidence concerning BAs’ appetite for risk when investing.en_US
dc.description.sponsorshipN/Aen_US
dc.language.isoenen_US
dc.publisherWileyen_US
dc.relation.urlhttps://onlinelibrary.wiley.com/doi/abs/10.1111/1467-8551.12380en_US
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectBusiness Angelsen_US
dc.subjectMotivationsen_US
dc.subjectRisk Capitalen_US
dc.titleInvestment motivations and UK business angels' appetite for risk taking: The moderating role of experienceen_US
dc.typeArticleen_US
dc.identifier.eissn1467-8551
dc.contributor.departmentPolitecnico di Milano, Milan, Italyen_US
dc.contributor.departmentCollegio Carlo Alberto, Torino, Italyen_US
dc.contributor.departmentUniversity of Derbyen_US
dc.identifier.journalBritish Journal of Managementen_US
dcterms.dateAccepted2019-07-26
dc.author.detail786785en_US


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Attribution-NonCommercial-NoDerivatives 4.0 International
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 International