A significant but unresolved question in the entrepreneurship literature is: how do angel investors impact new venture strategy and performance? We introduce the notion of angel’s share, i.e. the proportion of a new venture owned by angel investors at a given time. Drawing on agency and relational theories of control and trust, we propose that angels’ share of new ventures exhibits a nonlinear (i.e. piecewise) relationship with new venture performance.
Uzuegbunam, Ikenna; Ofem, Brandon; and Nambisan, Satish
"THE “ANGEL’S SHARE”: BUSINESS ANGELS, FAMILY OWNERSHIP, AND ENTREPRENEURIAL PERFORMANCE (INTERACTIVE PAPER),"
Frontiers of Entrepreneurship Research: Vol. 37
, Article 19.
Available at: https://digitalknowledge.babson.edu/fer/vol37/iss2/19