The quality of entrepreneurs has been demonstrated to be crucial in affecting investor’s decision-making, where biographical characteristics i.e. the traits and features that could be obtained from personal records directly, are considered to be important criteria. However, most previous studies used post hoc methods such as traditional questionnaire and interviews to study the decision-making process, which may lead to biased results and revisionism (Lohrke, Holloway, & Woolley, 2010; Shepherd & Zacharakis, 1999). Conjoint analysis is suggested to be one of the methods that can avoid such bias.
Applying both traditional questionnaire and the method of conjoint analysis, this paper quantitatively studied the significance of different biographical characteristics of entrepreneurs in affecting investors’ decision-making. The results show that in terms of getting venture investment, with/without startup experience is the most significant feature of entrepreneurs. The occupational expertise is also heavily weighted, among which technology specialists and jack-of-all-trades are most preferred. The research also demonstrated the applicability of conjoint method in entrepreneurship studies.
|Copyright||2014, Qiuhao Xu|
|Copyright License||Standard Copyright License|
|Type of Publication||Dissertation or thesis|
|Keywords||entrepreneur, entrepreneurship, innovation management, conjoint analysis, entrepreneur personalities, venture capital, startup success, angel investment|