195,199 research outputs found
Business angel investing
No full textBusiness angels are conventionally defined as high net worth individuals who invest their own money, along with their time and expertise, directly in unquoted companies in which they have no family connection, in the hope of financial gain. The term angel was coined by Broadway insiders in the early 1900s to describe wealthy theatre-goers who made high risk investments in theatrical productions. Angels invested in these shows primarily for the privilege of rubbing shoulders with the theatre personalities that they admired. The term business angel was given to those individuals who perform essentially the same function in a business context (Benjamin and Margulis, 2000: 5). There is a long tradition of angel investing in businesses (Sohl, 2003). Moreover, angel investing is now an international phenomenon, found in all developed economies and now diffusing to emerging economies such as China (Lui Tingchi, and Chen Po Chang,, 2007). However, it has only attracted the attention of researchers since the 1980s
The Transformation of the Business Angel Market: Evidence from Scotland
No full textBusiness angel investing – a key source of finance for entrepreneurial businesses – is evolving from a fragmented and largely anonymous activity dominated by individuals investing on their own to one that is increasingly characterised by groups of investors investing together through managed angel syndicates. The implications of this change have been largely ignored by scholars. Based on research in Scotland, which has experienced a particularly rapid growth in angel groups, the paper examines the following issues: the drivers of this change, the characteristics of the groups; their investment activity and outcomes; the investment process of angel groups; and the characteristics and role of group ‘gatekeepers’. The paper concludes with an assessment of the impact of this growth of angel groups on the economy and considers the implications for other regions and countries
Expected returns to stock investments by angel investors in groups
No full textAngel investors invest billions of dollars in thousands of entrepreneurial projects annually, far more than the number of firms that obtain venture capital. Previous research has calculated realized internal rates of return on angel investments, but empirical estimates of expected returns have not yet been produced. Although calculations of realized returns are a valuable contribution, expected returns, rather than realized returns, drive investment decisions. We use a new data set and statistical framework to produce the first empirical estimates of expected returns on angel investments. We also allow for the time value of money, which previous research has typically ignored. Our sample of 588 investments spans the 1972–2007 period and contains 419 exited investments. We conduct extensive tests to explore potential bias in the data set and conclude that the evidence in favor of bias is tenuous at best. Our results suggest that angel investors in groups can expect to earn returns that are on the order of returns on venture capital investments. Estimated net returns are about 70 percent in excess of the riskless rate per year for an average holding period of 3.67 years. This estimate is reasonable compared to Cochrane's (2005) estimate of 59 percent per year for venture capital investments, which tend to be in lower-variance, later-stage projects. Returns have a large variance and are heavily skewed, with many losses and occasional extraordinarily high returns.
The modernist angel: Art at the Limits of the Human in D. H. Lawrence, H. D. and Mina Loy
No full textPhDThe subject of this thesis is a figure that might provisionally be called the *modemist
angel'. Focusing on modernist literature, and more particularly on the work of D. H.
Lawrence, H. D. and Mina Loy, it aims to isolate from the many angels found in all periods
and all types of art a historically specific and intellectually coherent paradigm: an angel of
and for its modernist times. A figure of precisely this type could be said to exist in the
form of Walter Benjamin's 'angel of history'. Critics who address the question of the
modern angel in texts by Franz Kafka and Rainer Maria Rilke often do so in conjunction
with the problem posed by the angel of history. Beginning with a chapter on Benjamin,
this thesis nevertheless follows a different trajectory. Over five chapters, it explores a
modernist landscape formed not only by Lawrence, H. D. and Loy, but also by European
and American writers such as A. R. Orage, Allen Upward, Ezra Pound, Wallace Stevens,
Havelock Ellis, Edward Carpenter, Sigmund Freud and Friedrich Nietzsche. Although the
angel that emerges from this investigation might, in some respects, be said to anticipate
Benjamin's later version, this figure is also very different, standing for a project that is
distinctively, and recognisably, modernist in nature. He/she (the sex of the modernist
angel is often open to question) represents an attempt to reconcile the divine
responsibilities of the artist with the material and gendered conditions of being,
specifically of being human, in the modem world. This thesis looks again at the clash of
intellectual paradigms in the early-twentieth century - notably, the confrontation of the
Romantic view of art as a superhuman or sacred undertaking with the psychoanalytical or
evolutionary idea that all human endeavour is underpinned by sub-human motives - and
suggests the angel as a new and instructive figure through which to think the perilous
limits between the human and the divine in modernist literature
Letter from J. E. Gavin to Louis C. Cramton regarding Sale of Bright Angel Trail
No full textLetter from J. E. Gavin to Louis C. Cramton regarding the Bright Angel Trail controversy, including newspaper clipping
Business angels
No full textBusiness angels are conventionally defined as high net worth individuals who invest their own money, along with their time and expertise, directly in unquoted companies in which they have no family connection, in the hope of financial gain. The term angel was coined by Broadway insiders in the early 1900s to describe wealthy theatre-goers who made high risk investments in theatrical productions. Angels invested in these shows primarily for the privilege of rubbing shoulders with the theatre personalities that they admired. The term business angel was given to those individuals who perform essentially the same function in a business context (Benjamin and Margulis, 2000: 5). There is a long tradition of angel investing in businesses (Sohl, 2003). Moreover, angel investing is now an international phenomenon, found in all developed economies and now diffusing to emerging economies such as China (Lui Tingchi, and Chen Po Chang,, 2007). However, it has only attracted the attention of researchers since the 1980s
Max C. Angel
No full textObituary of Max C. Angel, born November 23, 1924 in Detroit, Michigan. Resided in Flat Rock, Michigan
Elementary problems and solutions: a binomial series, proposed
No full text85Proposed by Angel Plaza, Universidad de Las Palmas de Gran Canaria, Spain. (Vol. 54.1, February 2016). Solution by Adnan Ali (student), A.E.C.S-4, Mumbai, India. Also solved by Brian Bradie, Steve Edwards, G. C. Greubel, Harris Kwong, Hideyuki Ohtsuka, S. S. Pradhan and M. K. Sahukar, Jason L. Smith, David Terr, and the proposer.0,313Q4ESC
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