Early stage investment decision and psychology: The missing link
International audience This paper presents a theoretical analysis. We make a critical review of the existing literature linked to the evaluation of the value creation potential of entrepreneurial firms. Financing at early stage is crucial because it allows a reliable redefinition of a business idea...
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ftccsdartic:oai:HAL:hal-02538795v1 2023-05-15T16:50:34+02:00 Early stage investment decision and psychology: The missing link Deffains-Crapsky, Catherine Ola, Abdel Malik Groupe de Recherche Angevin en Economie et Management (GRANEM) Institut National de l'Horticulture et du Paysage-AGROCAMPUS OUEST Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Université d'Angers (UA) Reykjavik, Iceland 2018 https://hal.univ-angers.fr/hal-02538795 en eng HAL CCSD hal-02538795 https://hal.univ-angers.fr/hal-02538795 OKINA: ua17355 EURAM, European Academy of Management https://hal.univ-angers.fr/hal-02538795 EURAM, European Academy of Management, 2018, Reykjavik, Iceland. pp.29 https://2018.euramfullpaper.org/programme/search.asp?qs=Catherine%20Deffains-crapsky cognitive psychology early stage financing mindfulness Uncertainty [SHS]Humanities and Social Sciences info:eu-repo/semantics/conferenceObject Conference papers 2018 ftccsdartic 2021-11-07T01:13:17Z International audience This paper presents a theoretical analysis. We make a critical review of the existing literature linked to the evaluation of the value creation potential of entrepreneurial firms. Financing at early stage is crucial because it allows a reliable redefinition of a business idea in order to build a great firm. In this paper we want to explain why theorists know little about the early stage investment decision by venture capital or business angels. We show that the psychological aspects, in spite of their recognition as an essential part of the financial decision making long time ago, hold little attention in the literature. The consequence is the lack of a global and relevant model on the identification of investment opportunity. The gap between the research object (the innovative idea at early stage) and approaches used by theorists is significant. We highlight the concept of mindfulness and we propose a framework stemming from psychological paradigms and make recommendations which can guide entrepreneurial finance researches in the future. This analysis reinforces our belief that an important paradigmatic change has to be made to encircle better this category of decision. The issue is also epistemological because it leads to wonder about the research practices towards the theorist objectives. Conference Object Iceland Archive ouverte HAL (Hyper Article en Ligne, CCSD - Centre pour la Communication Scientifique Directe) |
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Archive ouverte HAL (Hyper Article en Ligne, CCSD - Centre pour la Communication Scientifique Directe) |
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ftccsdartic |
language |
English |
topic |
cognitive psychology early stage financing mindfulness Uncertainty [SHS]Humanities and Social Sciences |
spellingShingle |
cognitive psychology early stage financing mindfulness Uncertainty [SHS]Humanities and Social Sciences Deffains-Crapsky, Catherine Ola, Abdel Malik Early stage investment decision and psychology: The missing link |
topic_facet |
cognitive psychology early stage financing mindfulness Uncertainty [SHS]Humanities and Social Sciences |
description |
International audience This paper presents a theoretical analysis. We make a critical review of the existing literature linked to the evaluation of the value creation potential of entrepreneurial firms. Financing at early stage is crucial because it allows a reliable redefinition of a business idea in order to build a great firm. In this paper we want to explain why theorists know little about the early stage investment decision by venture capital or business angels. We show that the psychological aspects, in spite of their recognition as an essential part of the financial decision making long time ago, hold little attention in the literature. The consequence is the lack of a global and relevant model on the identification of investment opportunity. The gap between the research object (the innovative idea at early stage) and approaches used by theorists is significant. We highlight the concept of mindfulness and we propose a framework stemming from psychological paradigms and make recommendations which can guide entrepreneurial finance researches in the future. This analysis reinforces our belief that an important paradigmatic change has to be made to encircle better this category of decision. The issue is also epistemological because it leads to wonder about the research practices towards the theorist objectives. |
author2 |
Groupe de Recherche Angevin en Economie et Management (GRANEM) Institut National de l'Horticulture et du Paysage-AGROCAMPUS OUEST Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Université d'Angers (UA) |
format |
Conference Object |
author |
Deffains-Crapsky, Catherine Ola, Abdel Malik |
author_facet |
Deffains-Crapsky, Catherine Ola, Abdel Malik |
author_sort |
Deffains-Crapsky, Catherine |
title |
Early stage investment decision and psychology: The missing link |
title_short |
Early stage investment decision and psychology: The missing link |
title_full |
Early stage investment decision and psychology: The missing link |
title_fullStr |
Early stage investment decision and psychology: The missing link |
title_full_unstemmed |
Early stage investment decision and psychology: The missing link |
title_sort |
early stage investment decision and psychology: the missing link |
publisher |
HAL CCSD |
publishDate |
2018 |
url |
https://hal.univ-angers.fr/hal-02538795 |
op_coverage |
Reykjavik, Iceland |
genre |
Iceland |
genre_facet |
Iceland |
op_source |
EURAM, European Academy of Management https://hal.univ-angers.fr/hal-02538795 EURAM, European Academy of Management, 2018, Reykjavik, Iceland. pp.29 https://2018.euramfullpaper.org/programme/search.asp?qs=Catherine%20Deffains-crapsky |
op_relation |
hal-02538795 https://hal.univ-angers.fr/hal-02538795 OKINA: ua17355 |
_version_ |
1766040709054332928 |