RT Journal Article
SR Electronic
T1 Business Angel Investing in an Emerging Asian Economy
JF The Journal of Private Equity
FD Institutional Investor Journals
SP 44
OP 56
DO 10.3905/JPE.2009.12.4.044
VO 12
IS 4
A1 William Scheela
A1 Edmundo S Isidro
YR 2009
UL https://pm-research.com/content/12/4/44.abstract
AB Our research question is:What is the impact of the lack of fully developed institutions on business angel investing in an emerging economy?We interviewed 29 business angels in the Philippines, an emerging economy in Southeast Asia that is characterized by under developed institutions,which can have a very negative impact on private equity investing in SMEs.We used institutional theory as the framework to explore the investment and operating strategies developed by business angels in the Philippines.We found that because of the difficult investment climate in the Philippines, business angels developed co-investing networks, undertook in-depth due diligence, and played an active monitoring role after investing. In general, business angels investing in the Philippines reported positive returns on their investments.TOPICS: Private equity, emerging, analysis of individual factors/risk premia, quantitative methods