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Angel Cognition and Active Involvement in BAN Governance and Management

Author

Listed:
  • Peter Wirtz

    (Centre de Recherche Magellan - Université Jean Moulin - Lyon III - Institut d'Administration des Entreprises (IAE) - Lyon)

  • Christophe Bonnet

    (Grenoble École de Management (GEM))

  • Laurence Cohen

    (Centre de Recherche Magellan - Université Jean Moulin - Lyon III - Institut d'Administration des Entreprises (IAE) - Lyon)

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 a regional French Business Angel Network.

Suggested Citation

  • Peter Wirtz & Christophe Bonnet & Laurence Cohen, 2015. "Angel Cognition and Active Involvement in BAN Governance and Management," Working paper serie RMT - Grenoble Ecole de Management hal-01182804, HAL.
  • Handle: RePEc:hal:gemwpa:hal-01182804
    Note: View the original document on HAL open archive server: https://hal-univ-lyon3.archives-ouvertes.fr/hal-01182804
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    References listed on IDEAS

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    1. Christophe Bonnet & Peter Wirtz & Christophe Haon, 2013. "Liftoff: when strong growth is predicted by angels and fuelled by professional venture funds," Revue de l'Entrepreneuriat, De Boeck Université, vol. 12(4), pages 59-78.
    2. Gérard Charreaux, 2008. "À la recherche du lien perdu entre caractéristiques des dirigeants et performance de la firme : gouvernance et latitude managériale," Working Papers CREGO 1080502, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    3. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    4. Christophe Bonnet & Peter Wirtz, 2011. "Investor Type, Cognitive Governance and Performance in Young Entrepreneurial Ventures:A Conceptual Framework," Working Papers CREGO 1110301, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    5. Shaker A. Zahra & Igor Filatotchev, 2004. "Governance of the Entrepreneurial Threshold Firm: A Knowledge-based Perspective," Journal of Management Studies, Wiley Blackwell, vol. 41(5), pages 885-897, July.
    6. Peter Wirtz, 2011. "Beyond Agency Theory: Value Creation and the Role of Cognition in the Relationship Between Entrepreneurs and Venture Capitalists," Post-Print halshs-00642764, HAL.
    7. Wirtz, Peter, 2011. "The cognitive dimension of corporate governance in fast growing entrepreneurial firms," European Management Journal, Elsevier, vol. 29(6), pages 431-447.
    8. Robert Wiltbank, 2005. "Investment practices and outcomesof informal venture investors," Venture Capital, Taylor & Francis Journals, vol. 7(4), pages 343-357, August.
    9. Jesper Lindgaard Christensen, 2011. "Should government support business angel networks? The tale of Danish business angels network," Venture Capital, Taylor & Francis Journals, vol. 13(4), pages 337-356, April.
    10. Christophe Bonnet & Peter Wirtz, 2011. "Raising capital for rapid growth in young technology ventures: when business angels and venture capitalists coinvest," Venture Capital, Taylor & Francis Journals, vol. 14(2-3), pages 91-110, December.
    11. Mark Van Osnabrugge, 2000. "A comparison of business angel and venture capitalist investment procedures: An agency theory-based analysis," Venture Capital, Taylor & Francis Journals, vol. 2(2), pages 91-109, April.
    12. Gérard Charreaux & Peter Wirtz, 2006. "Gouvernance des entreprises : nouvelles perspectives," Post-Print halshs-00144927, HAL.
    13. Lorraine Uhlaner & Mike Wright & Morten Huse, 2007. "Private Firms and Corporate Governance: An Integrated Economic and Management Perspective," Small Business Economics, Springer, vol. 29(3), pages 225-241, October.
    14. Geoff Gregson & Sacha Mann & Richard Harrison, 2013. "Business Angel Syndication and the Evolution of Risk Capital in a Small Market Economy: Evidence from Scotland," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 34(2), pages 95-107, March.
    15. repec:hal:journl:halshs-00642737 is not listed on IDEAS
    16. Dimov, Dimo P. & Shepherd, Dean A., 2005. "Human capital theory and venture capital firms: exploring "home runs" and "strike outs"," Journal of Business Venturing, Elsevier, vol. 20(1), pages 1-21, January.
    17. Rudy Aernoudt, 2005. "Executive forum: Seven ways to stimulate business angels' investments," Venture Capital, Taylor & Francis Journals, vol. 7(4), pages 359-371, March.
    18. Wiltbank, Robert & Read, Stuart & Dew, Nicholas & Sarasvathy, Saras D., 2009. "Prediction and control under uncertainty: Outcomes in angel investing," Journal of Business Venturing, Elsevier, vol. 24(2), pages 116-133, March.
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    Keywords

    business angels; BAN; Cognition; Human Capital; Involvement;

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