TY  - JOUR
T1  - New venture legitimacy: the conditions for angel investors
JF  - Small Business Economics
Y1  - 2015
A1  - Becker-Blease,John
A1  - Sohl,Jeffrey
KW  - Finance
AB  - Favorable legitimacy judgments by potential resource providers are critical for the survival and growth of new ventures. We examine which aspects of a venture’s activities, structures, and outcomes, as conveyed by its narrative, are associated with legitimacy judgments by potential angel investors in a sample of 176 new venture proposals. We find that entrepreneurial ventures with quality top management teams, advisors, and developed products are viewed more favorably by angel investors and likely have better access to these investors. This research provides new insights into the establishment of legitimacy within the economically important angel capital market.
VL  - 45
CP  - 4
U2  - a
U4  - 117456082944
ID  - 117456082944
ER  -