{"title":"Exploring Angel Investor Impact: Diving into the Shark Tank!","authors":"M. Cannice, Ludwig B. Chincarini, Ryan M. Leary","doi":"10.3905/jai.2023.1.184","DOIUrl":null,"url":null,"abstract":"This article explores the investment impact and performance of a unique group of angel investors: those featured on the television show Shark Tank. It explores the relationship between the investors’ individual characteristics such as experience, reputation, and network, with their investments’ performance and attributes. The authors find evidence that investor and deal characteristics matter for predicting whether an investor is more or less likely to make offers and close deals. However, on average, Sharks do not have the ability to select outperforming companies, where investment performance is measured by the survival and website traffic of the start-up companies. They found the reputational impact of Shark Tank as a venue is significant. While these Shark investors are not typical of the vast majority of angel investors, the authors identify fundamental insights that may be of value to understanding the much larger and less famous angel investor community and the entrepreneurial firms they finance.","PeriodicalId":45142,"journal":{"name":"Journal of Alternative Investments","volume":null,"pages":null},"PeriodicalIF":0.4000,"publicationDate":"2023-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Alternative Investments","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3905/jai.2023.1.184","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 1
Abstract
This article explores the investment impact and performance of a unique group of angel investors: those featured on the television show Shark Tank. It explores the relationship between the investors’ individual characteristics such as experience, reputation, and network, with their investments’ performance and attributes. The authors find evidence that investor and deal characteristics matter for predicting whether an investor is more or less likely to make offers and close deals. However, on average, Sharks do not have the ability to select outperforming companies, where investment performance is measured by the survival and website traffic of the start-up companies. They found the reputational impact of Shark Tank as a venue is significant. While these Shark investors are not typical of the vast majority of angel investors, the authors identify fundamental insights that may be of value to understanding the much larger and less famous angel investor community and the entrepreneurial firms they finance.
期刊介绍:
The Journal of Alternative Investments (JAI) provides you with cutting-edge research and expert analysis on managing investments in hedge funds, private equity, distressed debt, commodities and futures, energy, funds of funds, and other nontraditional assets. JAI is the official publication of the Chartered Alternative Investment Analyst Association (CAIA®). JAI provides you with challenging ideas and practical tools to: •Profit from the growth of hedge funds and alternatives •Determine the optimal mix of traditional and alternative investments •Measure and track portfolio performance •Manage your alternative investment portfolio with proven risk management practices