What differentiates angel investors in pre-seed versus seed-stage investments? Evidence from India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
A. Niroopa Rani Annamalaisami
Keyword(s):  
Design Methodology ◽  
Content Type ◽  
Specific Experience ◽  
Tier 1 ◽  
Seed Funding ◽  
Independent Variable ◽  
Investment Size ◽  
Start Ups ◽  
Non Parametric ◽  
Angel Investors

Purpose Angel investments are increasingly getting specialized. In recent years, start-ups are raising pre-seed funding before seed-stage funding. Investors in pre-seed and seed-stage companies commonly are angel investors. The purpose of this paper is to understand the differences between these two groups of angel investors. Design/methodology/approach Data for this study obtained from angel funding deals from the sources such as Venture Intelligence, VCCEdge, Keiretsu Forum, Dealcurry and The Chennai Angels. A total of 732 angel investments made by 405 investors during 2014–18 were used in the analysis. Non-parametric tests and regression estimations were used to identify the differences between angel investors investing in pre-seed and seed-stage ventures. An index was developed to measure the extent of syndication in angel investments and used as an independent variable in the regression. Findings There are significant differences between angel investors investing in pre-seed and seed-stage ventures. The results show that angels with more industry-specific experience make a higher proportion of investment in seed-stage ventures. Seed-stage ventures attract investors from Tier-1 cities, whereas the pre-seed stage has higher investors from smaller cities. Though the investment size is smaller, the extent of syndication is greater in pre-seed stage investments. Originality/value To differentiate the angel investments between pre-seed and seed-stage funding, this study uses data from Indian start-ups. Further, this study develops a composite syndication index to measure the extent of syndication in angel investments and assesses its impact on an angel investor’s choice of pre-seed stage investments.

Playing the long game

2018 ◽  
Vol 34 (1) ◽  
pp. 10-12
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Content Type ◽  
Start Up ◽  
Pertinent Information ◽  
Start Ups ◽  
Practical Implications ◽  
Angel Investors

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings The pages of glossy business magazines are filled with long articles, short anecdotes, and visualizations of how Company A fosters creativity by allowing play time for employees, and how Company B has installed slides instead of stairs and offers free pizza. Indeed, it will not be long before one wacky start-up decides to put-up the bar and give all employees the rest of the year off to “ideate and channel their inner creativity”. The business magazines love showcasing these kinds of start-ups as people love to read about them – although there never seems to be many follow-ups in just how many of them saw their fifth year of activity after the cash from angel investors was burned through. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Online viewers’ choices over advertisement number and duration

2020 ◽  
Vol 14 (2) ◽  
pp. 215-238
Author(s):  
Stephen Nettelhorst ◽  
Laura Brannon ◽  
Angela Rose ◽  
Whitney Whitaker
Keyword(s):  
Exposure Time ◽  
Design Methodology ◽  
Persuasive Messages ◽  
Content Type ◽  
Independent Variables ◽  
Research Designs ◽  
Total Exposure Time ◽  
Online Simulations ◽  
Independent Variable ◽  
Two Independent Variables

Purpose The purpose of this study is to investigate online viewers’ preferences concerning the number and duration of video advertisements to watch during commercial breaks. The goal of the investigations was to assess whether online viewers preferred watching a fewer number of advertisements with longer durations or a greater number of advertisements with shorter durations. Design/methodology/approach Two studies used experimental research designs to assess viewers’ preferences regarding advertisements. These designs used two independent variables and one dependent variable. The first independent variable manipulated the type of choice options given to online viewers (e.g. one 60 s or two 30 s advertisements). The second independent variable manipulated when the choice was given to online viewers (i.e. at the beginning of the viewing experience or in the middle of the experience). The dependent variable measured viewers’ choices concerning their preferred advertisement option. Findings The results across both studies found that participants made choices that minimized total advertisement exposure time when possible. When minimizing total exposure time was not possible, participants made choices that minimized the number of exposures instead. Originality/value These investigations extend the literature on advertisement choice by examining online viewers’ preferences about the format of their advertising experience rather than the content of the persuasive messages themselves. In addition, these investigations provide value by investigating viewers’ responses to stimuli within realistic online simulations rather than abstract hypotheticals.

Web-based tools for collaborative research

2017 ◽  
Vol 34 (8) ◽  
pp. 8-19
Author(s):  
Stacy Brody
Keyword(s):  
Collaborative Research ◽  
Design Methodology ◽  
Research Collaboration ◽  
Low Cost ◽  
Research Process ◽  
Web Based ◽  
Content Type ◽  
Collaborative Tools ◽  
Start Ups ◽  
Practical Implications

Purpose The purpose of this paper is to profile various types of Web-based tools to facilitate research collaboration within and across institutions. Design/methodology/approach Various Web-based tools were tested by the author. Additionally, tutorial videos and guides were reviewed. Findings There are various free and low-cost tools available to assist in the collaborative research process, and librarians are well-positioned to facilitate their usage. Practical implications Librarians and researchers will learn about various types of tools available at free or at low cost to fulfill needs of the collaborative research process. Social implications As the tools highlighted are either free or of low cost, they are also valuable to start-ups and can be recommended for entrepreneurs. Originality/value As the realm of Web-based collaborative tools continues to evolve, the options must be continually revisited and reviewed for currency.

scholarly journals Elective affinities: exploring the matching between entrepreneurs and investors in equity crowdfunding

2020 ◽  
Vol 15 (2) ◽  
pp. 183-198 ◽  
Author(s):  
Giancarlo Giudici ◽  
Massimiliano Guerini ◽  
Cristina Rossi-Lamastra
Keyword(s):  
High Risk ◽  
Design Methodology ◽  
Geographical Proximity ◽  
Opportunistic Behavior ◽  
Content Type ◽  
Equity Crowdfunding ◽  
Italian Market ◽  
Elective Affinities ◽  
Start Ups

PurposeThe authors investigate whether matchings in equity crowdfunding are more likely to happen if homophily exists between investors and investees. They focus on gender, age and geographical proximity as crucial dimensions of similarity among individuals and thus of homophily. Furthermore, they investigate whether the effect of homophily depends on the risk of opportunism, which investors allegedly attribute to proponents basing on their area of residence.Design/methodology/approachThe authors analyze a hand-collected database of 13 equity crowdfunding campaigns launched by Italian innovative start-ups from January 2013 to June 2016, which includes information about 384 equity crowdfunding investments carried out by 361 different investors.FindingsThe authors find a significant effect of geographical proximity and age similarity in explaining the probability that an investor finances a campaign. Moreover, these effects are particularly relevant if the proponent is located in areas characterized by a high risk of opportunistic behavior. Interestingly enough, they do not detect any significant effect related to gender.Originality/valueIn this paper, the authors have the unique opportunity to analyze a whole market (the Italian market) during three years, from inception (2013–2016), and to collect the identities of the investors in all successful campaigns.

Passive leadership and its relationship with organizational justice

2018 ◽  
Vol 37 (2) ◽  
pp. 212-223 ◽  
Author(s):  
Muhammad Majid Adeel ◽  
Hafiz Ghufran Ali Khan ◽  
Naveed Zafar ◽  
Syed Tahir Rizvi
Keyword(s):  
Organizational Justice ◽  
Design Methodology ◽  
Direct Relationship ◽  
Social Science Knowledge ◽  
Content Type ◽  
Mediating Role ◽  
Independent Variable ◽  
Relationship Of ◽  
The Relationship

Purpose The purpose of this paper is to examine the relationship among passive leadership, organizational justice and affect-based trust. In addition, the meditating role of affect-based trust between these relationships is also investigated. Design/methodology/approach The data have been collected using anonymously completed questionnaire that has questions regarding passive leadership as independent variable, affect-based trust as mediator and organizational justice as dependent variable. Findings It is noted that the passive leadership is negatively associated with the affect-based trust and perceptions of organizational justice and the mediating role of affect-based trust is also confirmed between these relationships. Originality/value This study provides a new insight for social science knowledge base by explaining the direct relationship of passive leadership with organizational justice and through affect-based trust.

scholarly journals Quality management vision of future early career operations managers

2019 ◽  
Vol 36 (2) ◽  
pp. 162-185 ◽  
Author(s):  
Alireza Shokri ◽  
Farhad Nabhani
Keyword(s):  
Quality Management ◽  
Design Methodology ◽  
Future Generation ◽  
Early Career ◽  
Knowledge Development ◽  
Total Quality ◽  
Content Type ◽  
Practical Implications ◽  
Non Parametric ◽  
Operations Managers

Purpose The purpose of this paper is to investigate the gap between the current vision and knowledge of future early career operations managers (OM) and a common strategic total quality management (TQM) framework. Design/methodology/approach A survey questionnaire and a non-parametric test for different groups of participants were adopted to identify the gap and analyse the significance of these groups on the factors in the TQM framework. Findings A new set of TQM factors with the necessity of more knowledge and understanding of future generation were identified, followed by the identification of clear differences amongst different groups of this generation. Practical implications A sustainable OM practice needs managers and leaders with a sustainable knowledge development of quality management (QM); and as the result of this study, the current vision of future young OM would not echo this. Originality/value This study has a systematic, non-parametric approach towards currently fragmented QM analysis, and is integrated with human resource and visionary elements of future young OM and universal QM models and theories.

scholarly journals Price overreactions in the cryptocurrency market

2019 ◽  
Vol 46 (5) ◽  
pp. 1137-1155 ◽  
Author(s):  
Guglielmo Maria Caporale ◽  
Alex Plastun
Keyword(s):  
Regression Analysis ◽  
Transaction Costs ◽  
Design Methodology ◽  
Efficient Market Hypothesis ◽  
Efficient Market ◽  
Price Changes ◽  
Content Type ◽  
Dummy Variables ◽  
Price Patterns ◽  
Non Parametric

Purpose The purpose of this paper is to examine price overreactions in the case of the following cryptocurrencies: bitcoin, litecoin, ripple and dash. Design/methodology/approach A number of parametric (t-test, ANOVA, regression analysis with dummy variables) and non-parametric (Mann–Whitney U-test) tests confirm the presence of price patterns after overreactions: the next day price changes in both directions are bigger than after “normal” days. A trading robot approach is then used to establish whether these statistical anomalies can be exploited to generate profits. Findings The results suggest that a strategy based on counter-movements after overreactions is not profitable, whilst one based on inertia appears to be profitable but produces outcomes not statistically different from the random ones. Therefore, the overreactions detected in the cryptocurrency market do not give rise to exploitable profit opportunities (possibly because of transaction costs) and cannot be seen as evidence against the efficient market hypothesis (EMH). Originality/value The overreactions detected in the cryptocurrency market do not give rise to exploitable profit opportunities (possibly because of transaction costs) and cannot be seen as evidence against the EMH.

Unraveling legitimation strategies of Chinese Internet start-ups

2015 ◽  
Vol 9 (2) ◽  
pp. 239-258 ◽  
Author(s):  
Xiaohua Su ◽  
Haidong Peng ◽  
Shujun Zhang ◽  
Yun Rong
Keyword(s):  
Design Methodology ◽  
The Internet ◽  
Content Type ◽  
Low Level ◽  
Internet Industry ◽  
Case Methodology ◽  
The Face ◽  
Start Ups ◽  
Practical Implications

Purpose – The purpose of this paper is to explore the legitimacy needs and legitimation strategies of Internet start-ups in the context of industry dynamism. Design/methodology/approach – The purpose of this paper is to explore the legitimacy needs and legitimation strategies of Internet start-ups in the context of industry dynamism. Findings – The authors found that Internet start-ups are in great need of acquiring market and relational legitimacy at their nascent stages. Conformance to the environment is widely adopted by them as a legitimacy-enhancing strategy. There is an inverted “U” relationship between the maturity of the industry and the proactivity of any legitimation strategy in the sector. In the face of high- and low-level industry maturity, start-ups tend to employ prudent strategies to build up legitimacy. While in medium-mature industries, ventures are more likely to adopt proactive and aggressive strategies. Research limitations/implications – Due to the very nature of case methodology, this study is based on a small number of observations and it is set in the context of the Internet industry. The generalizability of its findings needs to be reinforced by further concrete studies. Practical implications – This paper suggests that industry dynamism should be taken into account carefully when implementing a choice of legitimation strategies. Originality/value – This study makes an attempt to further our understanding of how industry dynamism influences firms’ choices of legitimation strategies.

Mergers and acquisitions in the hightech industry: a literature review

2013 ◽  
Vol 21 (1) ◽  
pp. 66-82 ◽  
Author(s):  
Matteo Rossi ◽  
Shlomo Yedidia Tarba ◽  
Amos Raviv
Keyword(s):  
Literature Review ◽  
Mergers And Acquisitions ◽  
Value Creation ◽  
Design Methodology ◽  
Business Development ◽  
Critical Examination ◽  
High Tech ◽  
Review Of Literature ◽  
Content Type ◽  
Start Ups

PurposeAs a result of the impressive wave of mergers and acquisitions (M&As) in recent years, operations that were traditionally considered to be extraordinary have become common business development options. M&As have produced mixed results for their stakeholders, which resulted in extensive economics debate, albeit without a systemic vision. As a result, the M&A literature has not yet developed a paradigm and the purpose of this paper is to present a review of the existing literature.Design/methodology/approachThe authors carried out a review of literature on M&As in technology‐driven sectors.FindingsThe critical examination of the innovation and value creation processes in M&As in hightech industry provides new insights for incumbent executives and can better plan and implement M&As deals.Originality/valueSince 1990 there has been a major expansion of M&As in high‐tech sectors, many involving the acquisition of small and young start‐ups. To address this important topic the authors present here a review of literature on M&As in technology‐driven sectors.

Holistic configural models for sustainable entrepreneurs

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kun-Huang Huarng ◽  
Tiffany Hui-Kuang Yu
Keyword(s):  
Comparative Analysis ◽  
Fuzzy Set ◽  
Design Methodology ◽  
Qualitative Comparative Analysis ◽  
Likert Scale ◽  
External Factors ◽  
Personal Traits ◽  
Content Type ◽  
Business Opportunity ◽  
Start Ups

PurposeThis research explores causal combinations (personal traits, external factors and self-fulfillment) that could provide holistic views leading to sustainable start-ups via data collected from Taiwanese entrepreneurs.Design/methodology/approachThe authors employ five-point Likert scale measurements in the questionnaires and fuzzy-set/Qualitative Comparative Analysis (fsQCA) for the investigation.FindingsThe study finds four types of sustainable entrepreneurs. Conservative resilient entrepreneurs have an absence of both openness and neuroticism. Conservative achieving entrepreneurs have an absence of openness and the presence of conscientiousness. Conservative-hired entrepreneurs have an absence of both openness and unemployment. Lastly, conservative opportunistic entrepreneurs exhibit an absence of openness and the presence of business opportunity.Originality/valueThe results add to the authors’ knowledge and understanding of the entrepreneurship literature and also offer implications for people who are interested in entrepreneurship as well as to policymakers wanting to promote new start-ups.

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