Identifying the impact of external environment on business angel activity

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dc.contributor.authorZinecker, Marekcs
dc.contributor.authorSkalická, Martinacs
dc.contributor.authorBalcerzak, Adam Przemyslawcs
dc.contributor.authorPietrzak, Michał Bernardcs
dc.coverage.issue1cs
dc.coverage.volume2021cs
dc.date.issued2021-03-01cs
dc.description.abstractWe intend to contribute the empirical evidence in regard to identifying the impact of external environment on the activity of business angels in Czechia. Although prior academic studies have argued that e.g. overall economic growth, capital market, legal structures and the protection of property rights, corruption, innovativeness, the tax rate and labour market policy are the main determinants of the decision-making of business angels in the well-developed market, little is known about exogenous factors affecting behaviours of informal venture capitalists in Central and Eastern European countries. To our knowledge, we are the first who attempt to uncover the perception of changing economic conditions on business angel decision-making while using a qualitative survey research approach as primary data on business angels is currently not available. The results indicate that business angels pay little attention to the impact of the general macroeconomic conditions, as well as the role played by the capital market. They refer to ‘critical’ issues related to the difficult predictability of legislative changes. Dissatisfaction has also been expressed with the functioning of the public administration. Business angels also consider the current situation on the labour market and public education policy to be serious barriers to business development in the Czech Republic.en
dc.formattextcs
dc.format.extent1-23cs
dc.format.mimetypeapplication/pdfcs
dc.identifier.citationEKON ISTRAZ. 2021, vol. 2021, issue 1, p. 1-23.en
dc.identifier.doi10.1080/1331677X.2021.1888140cs
dc.identifier.issn1331-677Xcs
dc.identifier.orcid0000-0003-1764-0904cs
dc.identifier.other170542cs
dc.identifier.researcheridAAL-5760-2021cs
dc.identifier.scopus36976830900cs
dc.identifier.urihttp://hdl.handle.net/11012/200975
dc.language.isoencs
dc.publisherTaylor & Franciscs
dc.relation.ispartofEKON ISTRAZcs
dc.relation.urihttps://www.tandfonline.com/doi/full/10.1080/1331677X.2021.1888140cs
dc.rightsCreative Commons Attribution 4.0 Internationalcs
dc.rights.accessopenAccesscs
dc.rights.sherpahttp://www.sherpa.ac.uk/romeo/issn/1331-677X/cs
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/cs
dc.subjectBusiness angelsen
dc.subjectinvestmenten
dc.subjectmacroeconomicsen
dc.subjectinstitutionsen
dc.subjectlawen
dc.subjectsurveyen
dc.subjectCentral and Eastern Europeen
dc.titleIdentifying the impact of external environment on business angel activityen
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
sync.item.dbidVAV-170542en
sync.item.dbtypeVAVen
sync.item.insts2025.02.03 15:43:04en
sync.item.modts2025.01.17 18:43:17en
thesis.grantorVysoké učení technické v Brně. Fakulta podnikatelská. Ústav ekonomikycs
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