<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422024000100105</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2024.4861</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Amateur vs. professional investors&#8217; decision making in equity crowdfunding in Mexico]]></article-title>
<article-title xml:lang="es"><![CDATA[Toma de decisiones de inversionistas profesionales y amateurs en el fondeo colectivo con capital en México]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Wiencke Olivares]]></surname>
<given-names><![CDATA[Enrique Gustavo Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Canfield Rivera]]></surname>
<given-names><![CDATA[Carlos Eduardo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Anáhuac México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2024</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2024</year>
</pub-date>
<volume>69</volume>
<numero>1</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422024000100105&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422024000100105&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422024000100105&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Amateur and professional investors co-invest in nascent companies via the largest equity crowdfunding platform in Mexico, PlayBusiness. However, little is known about investment criteria that drive backers to invest in a venture, and whether the two groups of investors exhibit differences in decision-making. Based on past research on the investment behavior of investors, the study explores the extent to which three major factors impact their investment decisions. Data from 238 investors show that CERTIFICATION plays a significant role. However, MANAGEMENT TEAM and BUSINESS POTENTIAL are not quite relevant for decision-making. Within the factor CERTIFICATION, we found investors assign different importance to criteria, suggesting amateur and professional investors evaluate investment opportunities differently. Outside CERTIFICATION, amateur investors praise the importance of team-related aspects, whereas professional investors assign a higher weight to financial aspects of the project, suggesting differences in information processing and decision-making between types of investors.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Inversionistas amateurs y profesionales coinvierten en empresas nacientes a través de la plataforma de fondeo colectivo con capital más grande en México, PlayBusiness. Sin embargo, poco se sabe sobre los criterios de inversión que usan los capitalistas, y si los dos grupos de inversionistas muestran diferencias en la toma de decisiones. Basado en investigaciones anteriores sobre la forma de invertir de estos inversionistas, el estudio explora la medida en que tres factores principales EQUIPO DIRECTIVO, POTENCIAL DE NEGOCIO y CERTIFICACIÓN afectan sus decisiones de inversión. Datos de 238 inversionistas muestran que la CERTIFICACIÓN juega un papel importante. Sin embargo, el EQUIPO DIRECTIVO y el POTENCIAL DE NEGOCIO no son del todo relevantes para la toma de decisiones. Los resultados sugieren que inversionistas amateurs y profesionales evalúan las oportunidades de inversión de manera diferente, y que además procesan la información y toman decisiones de forma particular.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[business angel]]></kwd>
<kwd lng="en"><![CDATA[crowd investor]]></kwd>
<kwd lng="en"><![CDATA[decision-making]]></kwd>
<kwd lng="en"><![CDATA[equity crowdfunding]]></kwd>
<kwd lng="en"><![CDATA[investment criteria]]></kwd>
<kwd lng="es"><![CDATA[inversionista ángel]]></kwd>
<kwd lng="es"><![CDATA[inversionista amateur]]></kwd>
<kwd lng="es"><![CDATA[toma de decisiones]]></kwd>
<kwd lng="es"><![CDATA[fondeo colectivo con capital]]></kwd>
<kwd lng="es"><![CDATA[criterios de inversión]]></kwd>
</kwd-group>
</article-meta>
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