Decision biases and entrepreneurial finance

We study the effects of three cognitive biases by the entrepreneur on obtaining funding. We find planning fallacy to increase funding amounts, whereas optimism and overconfidence by the entrepreneur have no effects on funding amounts from others. Further, planning fallacy positively impacts the prob...

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Veröffentlicht in:	Small business economics 2016-12, Vol.47 (4), p.819-834
Hauptverfasser:	Adomdza, Gordon K., Åstebro, Thomas, Yong, Kevyn
Format:	Artikel
Sprache:	eng
Schlagworte:	Angel investors Bias Business and Management Business plans Cognition Cognitive biases Datasets Decision making Entrepreneurial finance Entrepreneurs Entrepreneurship Equity Fund raising Funding Industrial Organization Institutional investments Inventions Investment funds Investment plans Investors Management Microeconomics Optimism Planning Probability Startups Studies Success Venture capital
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