Angel investing in an austerity economy: the take-up of government policies in Portugal
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/20.500.12207/4991 |
Resumo: | Business angels (BAs) are recognized as playing a significant role in stimulating entrepreneurial activity. With the decline in both bank lending and venture capital investment since the onset of the global economic crisis, government efforts to stimulate BA activity have become a more significant component in strategies to increase the level of entrepreneurial activity. This paper examines the responsiveness of angels to such initiatives in so-called austerity economies – countries that were hardest hit by the financial crisis of 2008 and subsequent global recession and, as a consequence, had to take extreme economic and fiscal measures to reduce their budget deficits. We examine this question in Portugal which experienced one of the deepest recessions in the European Union following the implementation of severe austerity measures. This study confirms that government intervention to support angel investing can have a positive impact. However, the different types of intervention have varied in take-up rates. Other countries can learn from the Portuguese experience in three ways: the types of interventions that have the highest and lowest levels of take-up, the link between the design and the take-up of incentives, and types of intervention that should be considered but have not been implemented in Portugal. |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Angel investing in an austerity economy: the take-up of government policies in PortugalAusterityEntrepreneurshipEntrepreneurial financeBusiness angelsgovernment policyIndexação Scopusindexação Web of ScienceBusiness angels (BAs) are recognized as playing a significant role in stimulating entrepreneurial activity. With the decline in both bank lending and venture capital investment since the onset of the global economic crisis, government efforts to stimulate BA activity have become a more significant component in strategies to increase the level of entrepreneurial activity. This paper examines the responsiveness of angels to such initiatives in so-called austerity economies – countries that were hardest hit by the financial crisis of 2008 and subsequent global recession and, as a consequence, had to take extreme economic and fiscal measures to reduce their budget deficits. We examine this question in Portugal which experienced one of the deepest recessions in the European Union following the implementation of severe austerity measures. This study confirms that government intervention to support angel investing can have a positive impact. However, the different types of intervention have varied in take-up rates. Other countries can learn from the Portuguese experience in three ways: the types of interventions that have the highest and lowest levels of take-up, the link between the design and the take-up of incentives, and types of intervention that should be considered but have not been implemented in Portugal.Routlege2019-10-30T13:30:07Z2017-05-23T00:00:00Z2017-05-23T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/20.500.12207/4991eng1469-5944https://dx.doi.org/10.1080/09654313.2017.1328045Bilau, JoséMason, ColinBotelho, TiagoSarkar, Soumodipinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-06-23T07:47:12Zoai:repositorio.ipbeja.pt:20.500.12207/4991Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T14:59:00.174986Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Angel investing in an austerity economy: the take-up of government policies in Portugal |
title |
Angel investing in an austerity economy: the take-up of government policies in Portugal |
spellingShingle |
Angel investing in an austerity economy: the take-up of government policies in Portugal Bilau, José Austerity Entrepreneurship Entrepreneurial finance Business angels government policy Indexação Scopus indexação Web of Science |
title_short |
Angel investing in an austerity economy: the take-up of government policies in Portugal |
title_full |
Angel investing in an austerity economy: the take-up of government policies in Portugal |
title_fullStr |
Angel investing in an austerity economy: the take-up of government policies in Portugal |
title_full_unstemmed |
Angel investing in an austerity economy: the take-up of government policies in Portugal |
title_sort |
Angel investing in an austerity economy: the take-up of government policies in Portugal |
author |
Bilau, José |
author_facet |
Bilau, José Mason, Colin Botelho, Tiago Sarkar, Soumodip |
author_role |
author |
author2 |
Mason, Colin Botelho, Tiago Sarkar, Soumodip |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Bilau, José Mason, Colin Botelho, Tiago Sarkar, Soumodip |
dc.subject.por.fl_str_mv |
Austerity Entrepreneurship Entrepreneurial finance Business angels government policy Indexação Scopus indexação Web of Science |
topic |
Austerity Entrepreneurship Entrepreneurial finance Business angels government policy Indexação Scopus indexação Web of Science |
description |
Business angels (BAs) are recognized as playing a significant role in stimulating entrepreneurial activity. With the decline in both bank lending and venture capital investment since the onset of the global economic crisis, government efforts to stimulate BA activity have become a more significant component in strategies to increase the level of entrepreneurial activity. This paper examines the responsiveness of angels to such initiatives in so-called austerity economies – countries that were hardest hit by the financial crisis of 2008 and subsequent global recession and, as a consequence, had to take extreme economic and fiscal measures to reduce their budget deficits. We examine this question in Portugal which experienced one of the deepest recessions in the European Union following the implementation of severe austerity measures. This study confirms that government intervention to support angel investing can have a positive impact. However, the different types of intervention have varied in take-up rates. Other countries can learn from the Portuguese experience in three ways: the types of interventions that have the highest and lowest levels of take-up, the link between the design and the take-up of incentives, and types of intervention that should be considered but have not been implemented in Portugal. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-05-23T00:00:00Z 2017-05-23T00:00:00Z 2019-10-30T13:30:07Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/20.500.12207/4991 |
url |
http://hdl.handle.net/20.500.12207/4991 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
1469-5944 https://dx.doi.org/10.1080/09654313.2017.1328045 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Routlege |
publisher.none.fl_str_mv |
Routlege |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799129863474380800 |