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Business angels et performance des entreprises : une analyse empirique sur données françaises

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  • Nadine Levratto
  • Luc Tessier

Abstract

Research on the contribution of the Businesses Angels (BA) to the economic growth is still recent and rare, particularly in France. In order to compare the dynamics of companies backed by BA with companies which are not, we perform an empirical analysis consisting in considering multivariate models assessing the influence of the intervention of BA on various indicators. Our analysis rests on a single database made up of 300 French companies financed by BA. The results obtained make it possible to determine to what extent the intervention of a BA influences a firm?s growth path. It exerts an ambiguous effect on job creation, an almost null effect on the turnover but obviously supports the achievement of productive investments. These results are robust insofar as they do not depend on the reference sample retained. They also remain valid under various specifications of the models obtained thanks to the introduction of various explained variables. JEL Codes : L25, L26, M13

Suggested Citation

  • Nadine Levratto & Luc Tessier, 2016. "Business angels et performance des entreprises : une analyse empirique sur données françaises," Innovations, De Boeck Université, vol. 0(1), pages 141-176.
    • Handle: RePEc:cai:inndbu:inno_049_0141
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    Cited by:

    1. Madalina-Gabriela ANGHEL & Marian SFETCU & Gyorgy BODO & Doina BUREA, 2017. "Bank Risk Management," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(11), pages 87-94, November.
    2. Constantin ANGHELACHE & Madalina – Gabriela Anghel & Diana Valentina SOARE & Alexandru BADIU, 2016. "Model Analysis of the financial Performance of the Loan and the Borrower," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(5), pages 32-36, May.

    More about this item

    Keywords

    Business Angels; SMEs growth; financing; France;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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