Scandinavian Working Papers in Economics
Papers in Innovation Studies,
Lund University, CIRCLE - Centre for Innovation Research
No 2006/12: Informal investors and value added: The contribution of investors’ experientially acquired resources in the entrepreneurial process
Diamanto Politis () and Jonas Gabrielsson ()
Additional contact information
Diamanto Politis: School of Economics and Management, Lund University
Jonas Gabrielsson: CIRCLE, Lund University, Postal: PO Box 117, Sölvegatan 16, SE-22100 Lund, Sweden
Abstract: This study explores the value added contribution of informal investors in the entrepreneurial process, something that up to date has received very limited attention. By analyzing the life experience and career background of four informal investors the study examines the personal resources these individuals build up and develop during their careers and how these experientially acquired resources facilitate the recognition and exploitation of entrepreneurial investment opportunities. The overall results suggest that their careers can be described as an experiential learning process that has facilitated the development of valuable skills and knowledge that is of critical importance for the entrepreneurial projects they later become engaged in as informal investors. The case analysis also identifies two types of personal resources: skill-specific resources (know-how) and network resources (know-who) that have a significant influence on their ability to contribute with value added in the entrepreneurial process.
Keywords: informal investors; entrepreneurial process; investment opportunity; opportunity recognition; opportunity exploitation; resources
JEL-codes: O30
30 pages, November 1, 2006
Full text files
200612_Politis_Gabrielsson.pdf
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