Altruistic investment decision behavior in early-stage ventures

详细信息    查看全文

• 作者：Kim Klyver ; Noel J. Lindsay ; Suleiman K. “Sul” Kassicieh…
• 关键词：Altruism ; Informal investment ; Social capital ; Gender
• 刊名：Small Business Economics
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：48
• 期：1
• 页码：135-152
• 全文大小：
• 刊物类别：Business and Economics
• 刊物主题：Management; Microeconomics; Entrepreneurship; Industrial Organization;
• 出版者：Springer US
• ISSN：1573-0913
• 卷排序：48

文摘

In this study, we develop and test a gendered social capital model of altruistic investment behavior that explains why some informal investors expect high returns on their investments while others expect no payback at all. Prior literature predominantly assumes that informal investors engage in investment activities with a return on investment and profit in mind; however, other non-financial objectives for informal investment—e.g., altruistic informal investment—have also been suggested although their antecedents unexplored. We suggest altruistic investment behavior depends on life circumstances determined by social capital, gender, and their combination. Our empirical evidence supports these propositions.