When to pray to the angels for funding: The seasonality of angel investing in new ventures
Tài liệu tham khảo
Ardichvili, 2002, The role of angel investors in the assembly of non-financial resources of new ventures: conceptual framework and empirical evidence, J. Enterprising Cult., 10, 39, 10.1142/S021849580200013X
Brauer, 1990, Return seasonality in stocks and their underlying assets: Tax-loss selling versus information explanations, Rev. Financ. Stud., 3, 255, 10.1093/rfs/3.2.255
Carpentier, 2015, Angel group members' decision process and rejection criteria: a longitudinal analysis, J. Bus. Ventur., 30, 808, 10.1016/j.jbusvent.2015.04.002
Choi, 2015, Seasonality in mutual fund flows, J. Appl. Bus. Res., 31, 715, 10.19030/jabr.v31i2.9162
Colwell, 1990, Seasonality and size effects: the case of real-estate-related investment, J. Real. Estate Financ. Econ., 3, 251, 10.1007/BF00216189
Corhay, 1987, Seasonality in the Risk‐Return relationship: some international evidence, J. Financ., 42, 49, 10.1111/j.1540-6261.1987.tb02549.x
De Bondt, 1987, Further evidence on investor overreaction and stock market seasonality, J. Financ., 42, 557, 10.1111/j.1540-6261.1987.tb04569.x
Drover, W., Busenitz, L., Matusik, S., Townsend, D., Anglin, A., Dushnitsky, G. (in press). A review and road map of entrepreneurial equity financing research. Journal of Management. 0149206317690584.
Frank, 1996, Surviving the “valley of death”: a comparative analysis, J. Technol. Transf., 21, 61, 10.1007/BF02220308
Gersick, 1988, Time and transition in work teams: toward a new model of group development, Acad. Manag. J., 31, 9, 10.2307/256496
Gregson, 2013, Business angel syndication and the evolution of risk capital in a small market economy: evidence from Scotland, Manag. Decis. Econ., 34, 95, 10.1002/mde.2595
Gultekin, 1983, Stock market seasonality: international evidence, J. Financ. Econ., 12, 469, 10.1016/0304-405X(83)90044-2
Heston, 2008, Seasonality in the cross-section of stock returns, J. Financ. Econ., 87, 418, 10.1016/j.jfineco.2007.02.003
Hoffman, CA, 1972. The Venture Capital Investment Process: a Particular Aspect of Regional Economic Development. University of Texas, Austin, TX.
Hong, 2009, Gone fishin’: seasonality in trading activity and asset prices, J. Financ. Mark., 12, 672, 10.1016/j.finmar.2009.06.001
Hsu, 2014, What matters, matters differently: a conjoint analysis of the decision policies of angel and venture capital investors, Ventur. Cap.: Int. J. Entrep. Financ., 16, 1, 10.1080/13691066.2013.825527
Keim, 1983, Size-related anomalies and stock return seasonality: Further empirical evidence, J. Financ. Econ., 12, 13, 10.1016/0304-405X(83)90025-9
Jeffrey, 2016, The non-compensatory relationship between risk and return in business angel investment decision making, Ventur. Cap., 18, 189, 10.1080/13691066.2016.1172748
Kelly, 2003, Business angel contracts: the influence of context, Ventur. Cap., 5, 287, 10.1080/1369106032000141940
Kerr, W.R., Lerner, J., Schoar, A., 2010. The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis, (No. w15831). National Bureau of Economic Research.
Kerr, 2014, The consequences of entrepreneurial finance: Evidence from angel financings, Rev. Financ. Stud., 27, 20, 10.1093/rfs/hhr098
Lam, 2010, Funding gap, what funding gap? Financial bootstrapping: supply, demand and creation of entrepreneurial finance, Int. J. Entrep. Behav. Res., 16, 268, 10.1108/13552551011054480
2016
Loughran, 1997, Book-to-market across firm size, exchange, and seasonality: is there an effect?, J. Financ. Quant. Anal., 32, 249, 10.2307/2331199
Lucey, 2006, Seasonality, risk and return in daily COMEX gold and silver data 1982–2002, Appl. Financ. Econ., 16, 319, 10.1080/09603100500386586
Mason, C.M., Botelho, T., Harrison, R., 2013. The transformation of the business angel market: Evidence from Scotland. Unpublished manuscript. University of Glasgow, UK.
Mason, 2000, The size of the informal venture capital market in the United Kingdom, Small Bus. Econ., 15, 137, 10.1023/A:1008143713722
Mason, 2002, Is it worth it? The rates of return from informal venture capital investments, J. Bus. Ventur., 17, 211, 10.1016/S0883-9026(00)00060-4
Mason, 2015, Business angel investment activity in the financial crisis: UK evidence and policy implications, Environ. Plan. C: Gov. Policy, 33, 43, 10.1068/c12324b
Mason, 1996, Informal venture capital: a study of the investment process, the post-investment experience and investment performance, Entrep. Reg. Dev., 8, 105, 10.1080/08985629600000007
Mason, 1996, Why 'business angels' say no: a case study of opportunities rejected by an informal investor syndicate, Int. Small Bus. J., 14, 35, 10.1177/0266242696142003
Maxwell, 2016, Investment decision-making by business angels, 115
Maxwell, 2011, Business angel early stage decision making, J. Bus. Ventur., 26, 212, 10.1016/j.jbusvent.2009.09.002
May, 2002, Structured angel groups in the USA: the dinner club experience, Ventur. Cap.: Int. J. Entrep. Financ., 4, 337, 10.1080/1369106022000024969
Mitteness, 2012, Angel investor characteristics that determine whether perceived passion leads to higher evaluations of funding potential, J. Bus. Ventur., 27, 592, 10.1016/j.jbusvent.2011.11.003
Murphy, 2003
Ng, 2004, Institutional trading and the turn-of-the-year effect, J. Financ. Econ., 74, 343, 10.1016/j.jfineco.2003.05.009
Okhuysen, 2002, Focusing on midpoint transitions: an analysis of boundary conditions, Acad. Manag. J., 45, 1056, 10.2307/3069330
Osawa, 2006, An empirical analysis of the valley of death: large-scale R&D project performance in a Japanese diversified company, Asian J. Technol. Innov., 14, 93, 10.1080/19761597.2006.9668620
Reinganum, 1987, Taxes and stock return seasonality: Evidence from the London stock exchange, J. Bus., 281, 10.1086/296396
Peters, B. (2009). Early exits: Exit Strategies for Entrepreneurs and Angel Investors (but maybe not venture capitalists): Basil Peters.
Riding, 1994, The Canadian small business-bank interface: a recursive model, Entrep. Theory Pract., 18, 10.1177/104225879401800401
Riding, 2007, 13 Investment decision making by business angels, Handb. Res. Ventur. Cap., 1, 332
Riding, 2012, Financing new venture exporters, Small Bus. Econ., 38, 147, 10.1007/s11187-009-9259-6
Sohl, 2003, The private equity market in the USA: lessons from volatility, Ventur. Cap.: Int. J. Entrep. Financ., 5, 29, 10.1080/1369106032000062713
Sohl, 2011, The angel investor market in 2010: a market on the rebound, Cent. Ventur. Res.
Sohl, 2012, The changing nature of the angel market, Handb. Res. Ventur. Cap., 2, 17, 10.4337/9781781009116.00008
Sohl, 2003, The us angel and venture capital market: Recent trends and developments, J. Priv. Equity, 6, 7, 10.3905/jpe.2003.320035
Sohl, 2006, Angel investing: Changing strategies during volatile times, J. Entrep. Financ., 11, 27, 10.57229/2373-1761.1045
Sohl, 2015, The angel investor market in 2015: a buyers' market, Cent. Ventur. Res.
Sohl, 2007, Women business angels: insights from angel groups, Ventur. Cap., 9, 207, 10.1080/13691060701324536
Stevens, 2012
Theobald, 1984, Seasonality estimation in thin markets, J. Financ., 39, 377, 10.1111/j.1540-6261.1984.tb02315.x
Tinic, 1987, Seasonality in Canadian stock prices: a test of the “tax-loss-selling” hypothesis, J. Financ. Quant. Anal., 22, 51, 10.2307/2330869
Van Osnabrugge, 2000, A comparison of business angel and venture capitalist investment procedures: an agency theory-based analysis, Ventur. Cap.: Int. J. Entrep. Financ., 2, 91, 10.1080/136910600295729
Wachtel, 1942, Certain observations on seasonal movements in stock prices, J. Bus. Univ. Chic., 15, 184, 10.1086/232617
Wessner, 2005, Driving innovations across the valley of death, Res.-Technol. Manag., 48, 9
Wetzel, 1983, Angels and Informal risk capital, Sloan Manag. Rev., 24, 23
Wiltbank, 2007, Returns to angel investors in groups, Available SSRN, 1028592
Wiltbank, 2009, Prediction and control under uncertainty: outcomes in angel investing, J. Bus. Ventur., 24, 116, 10.1016/j.jbusvent.2007.11.004
Yao, 2012, Momentum, contrarian, and the January seasonality, J. Bank. Financ., 36, 2757, 10.1016/j.jbankfin.2011.12.004
