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Is angel investing worth the effort? A study of Keiretsu Forum†
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Is angel investing worth the effort? A study of Keiretsu Forum† (2010)Is angel investing worth the effort? A st…Returns to Angel Investors in Groups (2007)Returns to Angel Investors in…A Profile of Angel Investors (2007)A Profile of Angel InvestorsMarket Efficiency: A Theoretical Distinction and So What? (2005)Market Efficiency: A Theoreti…Investment practices and outcomesof informal venture investors (2005)Investment practices and outc…Defining Risk (2004)Defining RiskRedefining Business Success: Distinguishing Between Closure and Failure (2003)Redefining Business Success: …Is it worth it? The rates of return from informal venture capital investments (2002)Is it worth it? The rates of …A comparison of business angel and venture capitalist investment procedures: An agency theory-based analysis (2000)A comparison of business ange…The early-stage equity market in the USA (1999)The early-stage equity market…The Early History of Portfolio Theory: 1600–1960 (1999)The Early History of Portfoli…Editors’ Introduction: Habitual Entrepreneurs and Angel Investors (1998)Editors’ Introduction: Habitu…The informal venture capital market: Aspects of scale and market efficiency (1987)The informal venture capital …Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…Portfolio Selection (1952)Portfolio SelectionThe Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)Consumer-Based Brand Equity and Firm Risk (2009)Project portfolios in dynamic environments: Organizing for uncertainty (2011)Behavioral finance: Finance with normal people (2014)Theory of games and economic behavior (2019)Separation of Ownership and Control (1983)Firms, Contracts, and Financial Structure (1995)The Boundaries and Limitations of Agency Theory and Stewardship Theory in the Venture Capitalist/Entrepreneur Relationship (2003)Do women-owned businesses have equal access to angel capital? (2006)Angel investor characteristics that determine whether perceived passion leads to higher evaluations of funding potential (2012)Entrepreneurs in high technology: lessons from MIT and beyond (1992)Initial human and financial capital as predictors of new venture performance (1994)Contracting, signaling, and moral hazard: a model of entrepreneurs, ‘angels,’ and venture capitalists (2003)Variants of agency contracts in family-financed ventures as a continuum of familial altruistic and market rationalities (2003)Frontiers of Entrepreneurship Research (2004)Does Gender Matter? Women Business Angels and the Supply of Entrepreneurial Finance (2007)Entrepreneur Human Capital Inputs and Small Business Longevity (1990)New Firm Survival: New Results Using a Hazard Function (1995)The Performance and Competitive Advantage of Small Firms: A Management Perspective (1997)Growing profitable or growing from profits: Putting the horse in front of the cart (2009)The value of non-financial information in SME risk management (2010)COVID-19 and business failures: The paradoxes of experience, scale, and scope for theory and practice (2020)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Law and Finance (1998)An Enquiry concerning Human Understanding (1748)Theory of Games and Economic Behavior (1945)Portfolio Selection: Efficient Diversification of Investments (1959)An empirical study of classification algorithm evaluation for financial risk prediction (2010)The impact of risk management on the frequency of supply chain disruptions (2017)Managing climate change risks in global supply chains: a review and research agenda (2019)Common risk factors in the returns on stocks and bonds (1993)Valleys of Death and Darwinian Seas: Financing the Invention to Innovation Transition in the United States (2003)Angel finance: the other venture capital (2009)“Popularity Effect” in User-Generated Content: Evidence from Online Product Reviews (2014)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)An intertemporal asset pricing model with stochastic consumption and investment opportunities (1979)Conditional value-at-risk for general loss distributions (2002)The Capital Asset Pricing Model: Theory and Evidence (2004)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*19,431 cited
  • 1952Portfolio Selection4,609 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 2003Redefining Business Success: Distinguishing Between Closure and Failure732 cited
  • 2000A comparison of business angel and venture capitalist investment procedures: An agency theory-based analysis381 cited
  • 1999The Early History of Portfolio Theory: 1600–1960343 cited
  • 2004Defining Risk336 cited
  • 2002Is it worth it? The rates of return from informal venture capital investments325 cited
  • 1999The early-stage equity market in the USA211 cited
  • 2007A Profile of Angel Investors177 cited
  • 1987The informal venture capital market: Aspects of scale and market efficiency145 cited
  • 2005Market Efficiency: A Theoretical Distinction and So What?136 cited
  • 1998Editors’ Introduction: Habitual Entrepreneurs and Angel Investors119 cited
  • 2007Returns to Angel Investors in Groups115 cited
  • 2005

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Investment practices and outcomesof informal venture investors
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