Angel investors and entrepreneurs: do they live happily ever after?
Adopting a multilevel approach, this study is one of the first to look into the factors that influence investors’ and entrepreneurs’ intentions to voluntarily remain with their businesses. Building on conflict theory, this paper examines how both perceived and latent conflicts (or perceived and actual incompatibilities) between angel investors and entrepreneurs affect their intentions to remain. Further, an assumption implicit to many entrepreneurial finance papers is also tested, namely that entrepreneurs want to outstay their investors. Using data gathered in two locations, the findings confirm this assumption and reveal a significant negative impact of both perceived and latent task conflicts, but not so for relationship conflicts.
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