20.500.12556/RUL-138763 The jockey on the horse what makes a winning ride in the eyes of early-stage investors? To date, much of the research on early-stage equity investing has revolved around the question of whether early-stage equity investors place more importance on the entrepreneur (jockey) or the business opportunity (horse). Yet research has failed to agree on the relative importance of these two aspects of investment opportunity. The purpose of this study is to clarify how early-stage equity investors use available information about the entrepreneur and the business opportunity to make investment decisions. We analysed empirical data from semi-structured interviews with experienced early-stage equity investors active in Europe. In the analysis, we followed the twin slate approach, which accounts for literature review in the analytical process. Our results suggest that investors make sense of the business opportunity as a whole by integrating information about the entrepreneur and the business opportunity. We identified four aspects of early-stage investor decision-making that led us to conclude that investors’ evaluation of investment opportunities is holistic in nature. The study offers a number of practical implications for investors and entrepreneurs and enriches ongoing discussions about early-stage investors’ investment criteria. enterprises investments decision making angel investment venture capital investment criteria investor decision-making holistic thinking cognitive style podjetje investicije odločanje true false true Angleški jezik Slovenski jezik Članek v reviji 2022-08-16 14:26:12 2022-08-16 14:33:08 2022-09-29 12:36:40 0000-00-00 00:00:00 2022 0 0 Str. 165–189 no. 2 Vol. 29 2022 0000-00-00 Zaloznikova Objavljeno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 658 1321-5906 10.1080/13215906.2022.2092889 117039363 The_jockey_on_the_horse_what_makes_a_winning_ride_in_the_eyes_of_early_stage_investors.pdf The_jockey_on_the_horse_what_makes_a_winning_ride_in_the_eyes_of_early_stage_investors.pdf 1 837E62C399BAC652385A264CEB30D72F f8b76f7e8ceb4210f9fd314f00e41a802baa51b2c9d751947b335cf8e2836789 45ff7383-3f2b-11ed-9c94-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=162378 https://www.tandfonline.com/doi/full/10.1080/13215906.2022.2092889 0 69113c7d-1d5f-11ed-92af-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=159204 Ekonomska fakulteta 0 0 0