Bibliometric analysis and thematic trend of researches in the field of angel investors: trends, networks and research gaps
Subject Areas : FuturologyAsef Karimi 1 * , Maysam Shafiee 2 , Mohammad Sadegh Khayatian 3 , Yaser Arabnia 4
1 - Faculty of Management and Accounting, College of Farabi, University of Tehran, Tehran, Iran
2 - Faculty of Management and Accounting, College of Farabi, University of Tehran, Tehran, Iran
3 - Institute for Science and Technology Studies , Shahid Beheshti University, Tehran, Iran
4 - Faculty of Management and Accounting, College of Farabi, University of Tehran, Tehran, Iran
Keywords: Angel investors, startups, entrepreneurial ecosystem, investment decision-making, startup financing,
Abstract :
Angel investors constitute a critical component of early-stage startup financing and play an essential role in developing entrepreneurial ecosystems. This study adopts a bibliometric methodology to conduct a comprehensive analysis of scholarly research about angel investors. Data were collected from the Web of Science database, encompassing 541 articles published between 2000 and 2024. Descriptive and network analyses reveal that scholarly attention has been predominantly concentrated in developed economies such as the United States and the United Kingdom, with leading academic institutions in these countries making substantial contributions to the advancement of knowledge in this field. Thematic analysis further indicates that key research foci include decision-making processes, risk evaluation, and networking activities. Simultaneously, themes such as the social impact of angel investments and the application of emerging technologies are identified as burgeoning areas of inquiry. By presenting a comprehensive depiction of historical developments, collaboration patterns, and existing gaps within the literature, this study provides valuable insights for researchers and policymakers aiming to strengthen the role of angel investors in promoting innovation and entrepreneurship. The findings offer strategic guidance for future research endeavors and inform the design of effective support policies.
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