Challenges of business angels: does career matter?

IF 2.4 4区管理学 Q3 MANAGEMENT

Baltic Journal of Management Pub Date : 2024-06-04 DOI:10.1108/bjm-08-2023-0330

Rui Falcao, A. C. Moreira, Maria João Carneiro

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引用次数: 0

Abstract

PurposeThe business angels market dramatically changed the modus operandi and nature of business angels’ activity, evolving from lone investors to angel groups managed professionally. This paper aims to analyze the impact of angel perceived career development on angel satisfaction and, consequently, on their intention to continue investing.Design/methodology/approachA model was tested through covariance-based structural equation modeling (SEM) using AMOS based on data collected from 336 business angels from seven European countries.FindingsThe results highlight that: the perception of personal development is a decisive factor in pursuing the career of business angel; personal development has a higher explanatory power in angel career development than fostering innovation; and the perception of career development has positive impacts on angels’ job satisfaction and reinvestment intention. The paper ends with implications and guidelines for angels, gatekeepers and entrepreneurs, which may increase satisfaction with the angel experience and contribute to enriching business angel work.Research limitations/implicationsCross-sectional self-reported data were used to analyze the results of this study.Originality/valueTo paper extends the body of knowledge of business angels’ perceived career development, with implications for business angels, which may increase satisfaction with angel experience and, therefore, contribute to enhancing business angels’ activity. Thus, this study provides a consistent reference for forthcoming studies regarding the career of business angels and their relationship with entrepreneurs.

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创业天使面临的挑战：职业生涯重要吗？

目的商业天使市场极大地改变了商业天使的活动方式和性质，从单独的投资者发展到专业管理的天使团体。本文旨在分析天使所感知的职业发展对天使满意度的影响，以及由此对其继续投资意向的影响。设计/方法/途径根据从七个欧洲国家的 336 名商业天使那里收集的数据，使用 AMOS，通过基于协方差的结构方程模型（SEM）对模型进行了测试。研究结果研究结果表明：个人发展感是追求商业天使职业生涯的决定性因素；个人发展对天使职业发展的解释力高于促进创新；职业发展感对天使的工作满意度和再投资意向有积极影响。本文最后提出了对天使、守门人和企业家的启示和指导，这些启示和指导可能会提高天使经历的满意度，并有助于丰富商业天使的工作。研究局限/影响本研究采用横截面自我报告数据来分析研究结果。因此，本研究为今后有关商业天使职业生涯及其与企业家关系的研究提供了一致的参考。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Baltic Journal of Management MANAGEMENT-

CiteScore

5.40

自引率

9.70%

发文量

期刊介绍： The Baltic region has experienced rapid political and economic change over recent years. The challenges to managers and management researchers operating within the area are often different to those experienced in other parts of the world. The Baltic Journal of Management contributes to an understanding of different management cultures and provides readers with a fresh look at emerging management practices and research in the countries of the Baltic region and beyond.