The view of angels from above: Angel governance across institutional environments
Publication typeVlerick strategic journal article
JournalAcademy of Management Perspectives
Publication Begin page9
Publication End page24
MetadataShow full item record
AbstractCompared 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.
KeywordBusiness Angels, Entrepreneurship, Theoretical Perspectives, Institutional Theory, Governance, Venture Capital