The valuation practices of informal venture capitalist have been described as “intuition” and “instinct” because the sources of information used and methods employed by business angels are largely unknown – even to the angels themselves (Paul, Whittam and Wyper, 2007). This paper explores the sources of information and valuation practices adopted by business angels.
Farrell, Ellen and MacDonald, Greg
"VALUATION PRACTICES OF INFORMAL VENTURE CAPITALISTS:BEYOND "INSTINCT" AND "INTUITION" (INTERACTIVE PAPER),"
Frontiers of Entrepreneurship Research: Vol. 29
, Article 8.
Available at: http://digitalknowledge.babson.edu/fer/vol29/iss2/8