{"id":"https://openalex.org/W2035476302","doi":"https://doi.org/10.5172/ser.3.1-2.33","title":"Informal Venture Capital and the Financing of Small and Medium-Sized Enterprises","display_name":"Informal Venture Capital and the Financing of Small and Medium-Sized Enterprises","publication_year":1994,"publication_date":"1994-01-01","ids":{"openalex":"https://openalex.org/W2035476302","doi":"https://doi.org/10.5172/ser.3.1-2.33","mag":"2035476302"},"language":"en","primary_location":{"id":"doi:10.5172/ser.3.1-2.33","doi":"https://doi.org/10.5172/ser.3.1-2.33","is_oa":false,"landing_page_url":"https://doi.org/10.5172/ser.3.1-2.33","pdf_url":null,"source":{"id":"https://openalex.org/S4210187585","display_name":"Small Enterprise Research","issn_l":"1175-0979","issn":["1175-0979","1321-5906","2204-230X"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["abdc-b","anvur-scientific","fnege-4","jufo-1","norway-1","poland-20","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Small Enterprise Research","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5028883167","display_name":"Colin M. Mason","orcid":"https://orcid.org/0000-0003-0074-1864","observed_orcids":["https://orcid.org/0000-0003-0074-1864"]},"institutions":[{"id":"https://openalex.org/I43439940","display_name":"University of Southampton","ror":"https://ror.org/01ryk1543","country_code":"GB","type":"education","lineage":["https://openalex.org/I43439940"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Colin M Mason","raw_affiliation_strings":["Reader in Geography, Department of Geography, Universiy of Southampton, Southampton, S017 1BJ, United Kingdom"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Reader in Geography, Department of Geography, Universiy of Southampton, Southampton, S017 1BJ, United Kingdom","institution_ids":["https://openalex.org/I43439940"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5085943844","display_name":"Richard Harrison","orcid":"https://orcid.org/0000-0002-0154-0039","observed_orcids":["https://orcid.org/0000-0002-0154-0039"]},"institutions":[{"id":"https://openalex.org/I138801177","display_name":"University of Ulster","ror":"https://ror.org/01yp9g959","country_code":"GB","type":"education","lineage":["https://openalex.org/I138801177"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Richard T Harrison","raw_affiliation_strings":["Professor of Management Development, Ulster Business School, University of Ulster at Jordanstown, Co Antrim, BT 37 0QB, Northern Ireland, United Kingdom"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Professor of Management Development, Ulster Business School, University of Ulster at Jordanstown, Co Antrim, BT 37 0QB, Northern Ireland, United Kingdom","institution_ids":["https://openalex.org/I138801177"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.6592,"has_fulltext":false,"cited_by_count":11,"citation_normalized_percentile":{"value":0.90122987,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":95},"biblio":{"volume":"3","issue":"1-2","first_page":"33","last_page":"56"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10058","display_name":"Entrepreneurship Studies and Influences","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1405","display_name":"Management of Technology and Innovation"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14464","display_name":"Community Development and Social Impact","score":0.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/informal-venture-capital","display_name":"informal venture capital","score":0.9919999837875366},{"id":"https://openalex.org/keywords/angel-investors","display_name":"angel investors","score":0.9879999756813049},{"id":"https://openalex.org/keywords/small-and-medium-sized-enterprises","display_name":"small and medium-sized enterprises","score":0.9520000219345093},{"id":"https://openalex.org/keywords/entrepreneurial-firms","display_name":"entrepreneurial firms","score":0.4729999899864197},{"id":"https://openalex.org/keywords/business-start-up","display_name":"startups","score":0.7310000061988831},{"id":"https://openalex.org/keywords/individual-investors","display_name":"retail investors","score":0.6000000238418579},{"id":"https://openalex.org/keywords/entrepreneurial-economy","display_name":"entrepreneurial economy","score":0.6710000038146973},{"id":"https://openalex.org/keywords/public-policy","display_name":"public policy","score":0.6129999756813049},{"id":"https://openalex.org/keywords/venture-capital-market","display_name":"venture capital market","score":0.5559999942779541}],"concepts":[{"id":"https://openalex.org/C21279758","wikidata":"https://www.wikidata.org/wiki/Q219409","display_name":"Venture capital","level":2,"score":0.8374689221382141},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7600688934326172},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.6644037961959839},{"id":"https://openalex.org/C134827381","wikidata":"https://www.wikidata.org/wiki/Q261851","display_name":"Social venture capital","level":3,"score":0.5746959447860718},{"id":"https://openalex.org/C83646750","wikidata":"https://www.wikidata.org/wiki/Q193893","display_name":"Capital (architecture)","level":2,"score":0.45240527391433716},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.33215489983558655},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C95457728","wikidata":"https://www.wikidata.org/wiki/Q309","display_name":"History","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.5172/ser.3.1-2.33","doi":"https://doi.org/10.5172/ser.3.1-2.33","is_oa":false,"landing_page_url":"https://doi.org/10.5172/ser.3.1-2.33","pdf_url":null,"source":{"id":"https://openalex.org/S4210187585","display_name":"Small Enterprise Research","issn_l":"1175-0979","issn":["1175-0979","1321-5906","2204-230X"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":["abdc-b","anvur-scientific","fnege-4","jufo-1","norway-1","poland-20","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Small Enterprise Research","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.7825999855995178}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":28,"referenced_works":["https://openalex.org/W413745452","https://openalex.org/W565890220","https://openalex.org/W603136040","https://openalex.org/W639634632","https://openalex.org/W1483997742","https://openalex.org/W1581507255","https://openalex.org/W1585882976","https://openalex.org/W1970632623","https://openalex.org/W1980782643","https://openalex.org/W1991730799","https://openalex.org/W1993657490","https://openalex.org/W1999204767","https://openalex.org/W2005477155","https://openalex.org/W2017306003","https://openalex.org/W2037443242","https://openalex.org/W2039502052","https://openalex.org/W2041886131","https://openalex.org/W2042582603","https://openalex.org/W2051123062","https://openalex.org/W2056823996","https://openalex.org/W2083418422","https://openalex.org/W2089019687","https://openalex.org/W2089225002","https://openalex.org/W2094714687","https://openalex.org/W2110946009","https://openalex.org/W2114062352","https://openalex.org/W2170790204","https://openalex.org/W2262198733"],"related_works":["https://openalex.org/W632531999","https://openalex.org/W2042582603","https://openalex.org/W1567996321","https://openalex.org/W2017306003","https://openalex.org/W2063685478","https://openalex.org/W2089019687","https://openalex.org/W2208057114","https://openalex.org/W7217676748","https://openalex.org/W7140264548","https://openalex.org/W7054653493"],"abstract_inverted_index":{"There":[0],"are":[1,112],"two":[2],"principal":[3],"sources":[4],"of":[5,37,67,136],"venture":[6,13,18,76,120,129,146],"capital":[7,14,19,77,88,121,130,147],"for":[8,69],"entrepreneurial":[9,70,138],"companies.":[10,94],"The":[11],"institutional":[12],"market,":[15],"comprising":[16,79],"professional":[17],"firms,":[20],"if":[21],"the":[22,74,118,127,134],"more":[23,62],"familiar.":[24],"However,":[25],"despite":[26],"its":[27,40],"high":[28],"profile":[29],"it":[30],"actually":[31],"finances":[32],"only":[33],"a":[34,65],"small":[35],"number":[36],"businesses.":[38],"Moreover,":[39],"investment":[41],"focus":[42],"favours":[43],"larger,":[44],"established":[45],"businesses,":[46],"including":[47],"management":[48],"buyouts,":[49],"rather":[50],"than":[51],"new":[52,91],"and":[53,92,102,115],"recent":[54],"start-ups.":[55],"Much":[56],"less":[57],"visible":[58],"-":[59,72],"but":[60],"considerably":[61],"significant":[63],"as":[64],"source":[66],"finance":[68],"companies":[71],"is":[73,126],"informal":[75,119,128,145],"market":[78,122,131],"private":[80],"investors":[81],"(or":[82],"\u2018business":[83],"angels\u2019)":[84],"who":[85],"provide":[86],"risk":[87],"directly":[89],"to":[90,133],"growing":[93],"Drawing":[95],"upon":[96],"research":[97],"undertaken":[98],"in":[99],"North":[100],"America":[101],"Western":[103],"Europe,":[104],"this":[105],"paper":[106],"addresses":[107],"three":[108],"questions:":[109],"(i)":[110],"Who":[111],"business":[113],"angels":[114],"how":[116],"does":[117],"function?":[123],"(ii)":[124],"Why":[125],"important":[132],"development":[135],"an":[137],"economy?":[139],"(iii)":[140],"How":[141],"can":[142],"governments":[143],"stimulate":[144],"activity.":[148]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2018,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}