Browsing by Author "Atienza, Miguel"
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Item Informal Investors in Chile: An Exploratory Study from a Gender Perspective(2012) Romani, Gianni; Atienza, Miguel; Amorós, José ErnestoInformal investment represents one of the main sources to finance early-stage new ventures. Despite the progressive participation of women in informal investment, little is known about the characteristics of female informal investors, especially in developing countries. This study examines the gender differences of a sample of 613 informal investors in Chile. To this end we used the database from the Global Entrepreneurship Monitor Chile 2007-2008 and applied tests of differences in proportions and means for independent samples. The results show that there are significant gender differences in some socio-demographic variables, like education and work status, and also in the perception of good opportunities and the fear to failure. Additionally, women invest smaller amounts and expect lower returns than men do. Finally, women invest more than men in close family. Policy implications of these results are discussed.Item The development of business angel networks in Latin American countries: the case of Chile(01/05/2013) Romani, Gianni; Atienza, Miguel; Amorós, José ErnestoThis article analyses the recent development of business angel networks (BANs) in Chile, in order to understand the limitations of the current public policies to encourage informal venture capital and especially the BANs. We describe the evolution of this policy and apply a semi-structured interview to managers of Chilean BANs. The poor results in total investments in the case of Chilean BANs allow us to understand how government programmes exclusively oriented towards the supply of the informal venture capital market are insufficient to promote the dynamism of this industry. It is necessary to implement articulated programmes both from the supply and demand side, accompanied by the continuous evaluation of their results