کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1019324 940643 2015 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Social trust and angel investors' decisions: A multilevel analysis across nations
ترجمه فارسی عنوان
اعتماد اجتماعی و تصمیمات سرمایه گذاران فرشته : تجزیه و تحلیل چند سطحی در میان ملل
کلمات کلیدی
کارآفرینی تطبیقی؛ سرمایه گذاری فرشته؛ اعتماد اجتماعی؛ منظر سازمانی؛ کارآفرینی
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی


• We examine the influence of social trust on informal investors' decision.
• We build a multilevel model on data from 27 countries and over 90,000 people.
• We argued that social trust can enhance information transmission, collaboration, and sanctioning mechanisms within society.
• Level and radius of trust heighten the positive relationship between perceived entrepreneurial skills and angel investment.
• These factors weaken the relationship between the perception of new business opportunities and angel investment. Kindly proceed with publication process.

The decisions made by angel investors are embedded in and influenced by their institutional settings. This paper advances a multilevel model of the direct and indirect effects of social trust on individuals' angel-investment decisions. It is postulated that two dimensions of social trust, namely the level and radius, can enhance information transmission, collaboration, and sanctioning mechanisms within a society. Consequently, they facilitate angel investment and moderate the relationship between it and individual factors. A multilevel model of data from 191,907 individuals across 25 countries shows that individuals in countries with a high level of trust are more likely to make angel investments. Whereas both the level of trust and the radius of trust are found to heighten the positive relationship between an individual's perceived entrepreneurial skills and angel investment, it is interesting to note that these factors weaken the relationship between the perception of new business opportunities and angel investment. These direct and moderating effects are robust after controlling for wealth, cultural values, and other factors. This study contributes to the crossover between research on entrepreneurship and social-trust research.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Business Venturing - Volume 30, Issue 2, March 2015, Pages 307–321
نویسندگان
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