The view of angels from above: Angel governance across institutional environments
Publication type
Vlerick strategic journal articlePublication Year
2021Journal
Academy of Management PerspectivesPublication Volume
35Publication Issue
1Publication Begin page
9Publication End page
24
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Compared to scholarship focused on venture capital, we know less about angel investing and, in particular, less about how angels operate across institutional environments. Given the importance of angels within early-stage entrepreneurial investment growing globally, the field of angel governance is poised for further investigation. Thus, in this paper, we begin the conversation on angels and institutions and provide a framework for studying the post-investment governance role taken by angels amid institutional variation. First, we provide a review of the research conducted on angel-centered corporate governance. We then explore how the regulative, normative, and cultural-cognitive institutional domains may influence angel governance arrangements. Within these domains, we isolate how the extent, frequency, and mode of angel engagement with the target venture can be shaped by the institutional environment.Keyword
Business Angels, Entrepreneurship, Theoretical Perspectives, Institutional Theory, Governance, Venture Capitalae974a485f413a2113503eed53cd6c53
10.5465/amp.2017.0191