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Previous issue date: 2015-08-18 / The purpose of this thesis is to study the perception and the mitigation of diversifiable risks by angelinvestors in their investments in startups. Such theme is relevant in the entrepreneurship context in Brazil, and in the theoretical body of knowledge on Entrepreneurship and Corporate Finances. Angel investment is growing in Brazil, although only a few studies about risks in such context are found. In order to reach such goals, this thesis presents a chart of risks and relevant mitigation procedures, and proposes relevant classification in accordance with the angel investment phases and prominent risk dominion, as well as an exploratory study with three experienced Brazilian angels, following a semi-structured script whose empirical findings are framed into the relevant theories. Adopted data analysis technique is content analysis.In terms of results, based on fragments extracted from the interviews, angels are mostly concerned with operational risks, followed by market, financial and technological ones. In what refers to the 38 mechanisms of risk mitigation gathered in this thesis, answers point the majority of risk mitigation strategies organized in this thesis isreflected in the experience of the interviewed angels, since 26 mitigation mechanisms are endorsed by three or two of the interviewed angels. Additionally, another 10 mitigation mechanisms out of the 38 are endorsed by one of the interviewed angels; only two out of the mentioned 38 mitigation mechanisms are not adopted by any of the interviewed angels. / O objetivo desse trabalho ?? estudar a percep????o e a mitiga????o de riscos diversific??veis por investidores-anjos em seus investimentos em startups. Tal tem??tica tem relev??ncia no contexto do empreendedorismo no Brasil e no corpo te??rico sobre o empreendedorismo e finan??as. O volume de investimentos de tal natureza cresce no Brasil e, n??o obstante, h?? poucos estudos que versam sobre riscos neste contexto. Visando a atingir tais objetivos, realiza-se quadro resumo de riscos e 38 mecanismos correspondentes de mitiga????o apontados pela literatura, com proposta de classifica????o conforme fases do investimento-anjo e dom??nio de risco preponderante, bem como se efetua estudo explorat??rio com tr??s investidores-anjos brasileiros experientes, seguindo roteiro semiestruturado,cujos dados emp??ricos s??o cruzados com as teorias pertinentes. A t??cnica de an??lise de dados utilizada ?? a an??lise de conte??do. No que se refere aos resultados obtidos, conclui-se que fragmentos dos discursos dos entrevistados revelaram preocupa????es mais frequentemente relacionada aos riscos do dom??nio operacional, seguidos de riscos de mercado, financeiros e tecnol??gicos. No que tange aos 38 mecanismos de mitiga????o agrupados no presente trabalho, as respostas dos anjos apontam que a maioria das estrat??gias de mitiga????o colacionadas neste trabalho ?? corroboradapela pr??ticados anjos entrevistados, pois 26estrat??gias s??o endossadas por tr??s ou dois dos entrevistados. Complementarmente, 10 das 38 formas de mitiga????o s??o endossadas por um dos anjos entrevistados; apenas duas das 38 formas de mitiga????o n??o encontram apelo junto aos entrevistados.
| Identifer | oai:union.ndltd.org:IBICT/oai:132.0.0.61:tede/692 |
| Date | 18 August 2015 |
| Creators | BURKE, Jo??o |
| Contributors | BARBERO, Edson Ricardo, HASHIMOTO, Marcos, MORAES, Gustavo Herm??nio Salati Marcondes de |
| Publisher | FECAP, Mestrado em Administra????o, FECAP, Brasil, Funda????o Escola de Com??rcio ??lvares Penteado |
| Source Sets | IBICT Brazilian ETDs |
| Language | Portuguese |
| Detected Language | English |
| Type | info:eu-repo/semantics/publishedVersion, info:eu-repo/semantics/masterThesis |
| Format | application/pdf |
| Source | reponame:Biblioteca Digital de Teses e Dissertações do FECAP, instname:Fundação Aramando Álvares Penteado, instacron:FAAP |
| Rights | http://creativecommons.org/licenses/by-nc-nd/4.0/, info:eu-repo/semantics/openAccess |
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