Entrepreneurial Finance Research Papers - Academia.edu (original) (raw)

Anormal Psikoloji kitabı, ruhsal bozukluklar alanında çalışan tüm profesyoneller, psikiyatristler, klinik psikologlar, psikologlar, psikolojik danışmanlar, hekimler, sosyal hizmet uzmanları, psikiyatri hemşireleri ve bu alanlarda öğrenci... more

Anormal Psikoloji kitabı, ruhsal bozukluklar alanında çalışan tüm profesyoneller, psikiyatristler, klinik psikologlar, psikologlar, psikolojik danışmanlar, hekimler, sosyal hizmet uzmanları, psikiyatri hemşireleri ve bu alanlarda öğrenci yetiştiren akademisyenler ile eğitim alan öğrenciler için temel bir başvuru kitabıdır.
2013 yılının Mayısı ayında yayımlanan DSM-5 ölçütlerine göre ruhsal bozukluklarla ilgili sunulan bilgilerin güncellemesinin de yapıldığı bu kitap, tüm dünyada pek çok üniversitenin psikiyatri ve psikoloji bölümlerinde ders kitabı olarak okutulmaktadır.
Kitabın her bölümünde, ilk olarak ruhsal bozukluklarla ilgili vakalar sunulmakta, daha sonra bozuklukların klinik tanıları yapılmakta ve DSM-IV-TR’den farklı olan DSM-5’te yapılan değişikliklere yer verilmektedir. Ayrıca, DSM-5’teki tanı ölçütleri, bozuklukların etiyolojisi ve epidemiyolojisi, bozukluklar üzerinde kalıtımın ve çevrenin etkileri, biyolojik ve sosyal ve kültürel etkiler, en güncel araştırmalardan elde edilen verilerle harmanlanarak sunulmaktadır. Ruhsal bozuklukların tedavisinde etkili olacak terapi yaklaşımları ve ilaçla yapılan tedaviler hakkında da bilgiler veren kitap, sahip olduğu zengin içeriği ile eşsiz bir kaynaktır.
Anormal Psikoloji kitabının; profesyoneller ve öğrenciler için önemli bir rehber olacağına, yardıma ihtiyaç duyan insanların sorunlarının çözümüne, ruhsal bozuklukların tanı ve tedavisinde önemli katkılar sağlayacağına inanıyoruz.

Entrepreneurship is a prime activity for the economic growth of any country. It goes hand in hand with manufacturing and service industry. In fact, it works as a pillar to the economic and social welfare of the country. It also helps in... more

Entrepreneurship is a prime activity for the economic growth of any country. It goes hand in hand with manufacturing and service industry. In fact, it works as a pillar to the economic and social welfare of the country. It also helps in wealth creation in the nation. It is an opportunity to identify the market need and exploit the available resource in such a way that drives to gain long-term economic benefits. Though, this adventurous activity is full of enthusiasm and there are a lot of challenges affecting the entrepreneurship. It is also wonderful to note that in today's swiftly changing global economy, Indian economy has a major role to play. Looking at the importance of the topic, the present paper will be developed with the objective of analyzing the entrepreneurial opportunities and challenges in globalizing Indian economy.

This article explores relationship lending in the small business context: it discusses the roles of entrepreneurial competence and voluntarily disclosed information as determinants of credit access. More specifically, it proposes that the... more

This article explores relationship lending in the small business context: it discusses the roles of entrepreneurial competence and voluntarily disclosed information as determinants of credit access. More specifically, it proposes that the loan manager’s evaluation of the information voluntarily disclosed by the entrepreneur is an important complement to publicly available financial data and soft information collected through observation and third parties in framing the loan manager’s perception of entrepreneur competence. Further, the article argues that banks charge lower interest rates if the loan manager perceives the entrepreneur to be competent. Econometric analysis based on 433 bank–firm relationships supports these hypothesised relationships. The results imply that entrepreneurs need to communicate their competence effectively to loan managers, and that banks should utilise these personal evaluations as inputs to lending decisions.

The study has attempted to address the predicaments in the lending scenario to Micro Small and Medium Entrepreneurs. More credit flow to MSMEs is needed but commercial banks reportedly shy away from lending to the sector due to various... more

The study has attempted to address the predicaments in the lending scenario to Micro Small and Medium Entrepreneurs. More credit flow to MSMEs is needed but commercial banks reportedly shy away from lending to the sector due to various issues. In light of the covid-19 relief economic packages announced by government of India for the sector, how to ensure that MSMEs are welcomed by banks. The aim of the research is to examine the influential factors that determine the difficulties experienced in lending to MSMEs by banks. This is the first study in the state of Assam in India that compares between MSMEs that have availed assistance of District Industries Centres and MSMEs that have not in getting finance from banks. Information asymmetry, high average cost on loans, hassles with repayment, difficulty in recovery and scarcity of trained manpower are factors that are found to deter banks from lending to the sector.

This paper provides evidence that family financial resources–not those of the immediate household, but those of the extended family members and close relatives–alleviate credit constraints experienced by entrepreneurs, and stimulate... more

This paper provides evidence that family financial resources–not those of the immediate household, but those of the extended family members and close relatives–alleviate credit constraints experienced by entrepreneurs, and stimulate entrepreneurial activities. I build a rich combination of data on a representative sample of the Swedish population, their family members and the enterprises they run, and show that abundant financial resources in the family motivate initiating businesses in industries with high financial costs of entry. This finding is neither driven by inherited or acquired ability from family members, nor by valuable entrepreneurial experience of relatives. Moreover, I find that individuals with wealthier family members initiate larger businesses. The relation between the structure of financial resources in the family–liquid assets, fixed assets, and income–and the composition of startup capital– equity, debt, and loans from credit institutions– suggests that family contributes to the financing of startups directly by investing cash in firms' equity or indirectly by providing collateral and guarantee for firms' bank loans. In addition, I find that the marginal entrepreneur financed by family wealth enjoys an income gain after transitioning to entrepreneurship.

We extend theories of the firm to the entrepreneurial finance setting and argue that R&D-focused start-up firms will have a greater likelihood of financing themselves with equity rather than debt. We argue that mechanisms that reduce... more

We extend theories of the firm to the entrepreneurial finance setting and argue that R&D-focused start-up firms will have a greater likelihood of financing themselves with equity rather than debt. We argue that mechanisms that reduce information asymmetry, including owner work experience and financier reputation, will increase the probability of funding with more debt. We also argue that startups that correctly align their financing mix to their R&D focus will perform better than firms that are misaligned. We study these ideas using a large nationally representative dataset on start-up firms in the United States.

"Elinizdeki bu kitap, sosyal psikolojinin konularını en geniş kapsamıyla ele almakta, klasikleşmiş deneysel ve saha araştırmalarını en güncel bilimsel çalışmalarla harmanlamaktadır. Bu bakımdan, akademisyen ve öğrencilerin... more

"Elinizdeki bu kitap, sosyal psikolojinin konularını en geniş kapsamıyla ele almakta, klasikleşmiş deneysel ve saha araştırmalarını en güncel bilimsel çalışmalarla harmanlamaktadır. Bu bakımdan, akademisyen ve öğrencilerin yararlanabileceği eşsiz bir kaynaktır. Kitapta, sosyal psikoloji konuları bölüm bölüm ele alınmıştır; ilgili kavram, terim, kuram ve araştırmalar aktarılırken her bölüm kendi içinde bir bütünlük arz edecek şekilde akıcı bir öyküsel kurguyla ve dille yazılmıştır ayrıca bu kitap; tarihsel olaylarla, edebî ve felsefi metaforlarla zenginleştirilmiştir.
Ayrıca bu kapsamlı çalışma, sadece bilimsel bir disiplinin temel konularını okuyucuya aktarmakla kalmamakta, aynı zamanda savaş, açlık, çevre gibi gerçek dünya sorunlarının sosyal psikolojik boyutlarıyla ilgili çözüm önerileri de getirmektedir. Bu bakımdan elinizdeki kitap yalnızca bir ders kitabı değil, aynı zamanda sosyal psikolojiye ilgi duyan herkesin merakla okuyabileceği bir kitaptır."

This study extends entrepreneurial performance research by specifically ascertaining the effect of entrepreneurial characteristics on firm performance. Ensuing from the upper echelon theory, the research models were developed, and... more

This study extends entrepreneurial performance research by specifically ascertaining the effect of entrepreneurial characteristics on firm performance. Ensuing from the upper echelon theory, the research models were developed, and hypotheses were tested using primary data from a random sampling of a hundred (100) Entrepreneurs. The results indicated that the entrepreneur's educational background has a positive and significant impact on firm performance; the entrepreneur's age has a significant and positive impact on business performance and entrepreneur's experience exudes a significant and positive effect on firm performance. Based on the findings of this work, the study concludes that entrepreneurial characteristics positively impact on firm performance. Following this assertion, we recommend that aspiring and existing entrepreneurs acquire the basic training, education and experience, before embarking on new ventures. We also recommend that young adult entrepreneurs with little years of experience can hire the expertise of experienced personnel to enhance business performance.

İnovasyonun On Tipi kitabı ile inovasyon yapmak isteyenlere reçete veriliyor. Adım adım ve yalın bir şekilde inovasyonun nasıl geliştirilebileceği konusunda önemli sırlar ortaya koyuluyor. Bu kitap, özellikle teknoloji odaklı inovasyon... more

İnovasyonun On Tipi kitabı ile inovasyon yapmak isteyenlere reçete veriliyor. Adım adım ve yalın bir şekilde inovasyonun nasıl geliştirilebileceği konusunda önemli sırlar ortaya koyuluyor. Bu kitap, özellikle teknoloji odaklı inovasyon yapmak isteyenlere yapılan hataları da göstererek uygulama ortamı oluşturuyor. Yenilik ilkelerini verirken startupların ve hatta büyük kuruluşların anlamlı ve sürdürülebilir büyüme konusundaki donanımını artırıyor. 2000'den fazla başarılı yeniliğin ortaya çıkışında önemli içgörüler sağlıyor.
Bu kitabın anlatım tarzında özel bir algoritma uygulanarak anlamlı gruplar belirlendi. İnovasyon fırsatlarını belirlemek için firmaların iç ve dış büyüme parametreleri ve performans değerleri, rakiplerini de devreye alarak şekillendirildi. İnovasyon odaklı performansın artırılabilmesi, önemli değerlendirmeler yapılabilmesi için özel ve hazır yol haritaları sunuldu. Endüstriler için de inovasyon modellerini teşhis edip yeni bir anlayış ve yöntem geliştirme imkânı sunuluyor.
Çevrimsel araştırmanın altyapısını vererek farklı ve anlamlı değişim ve dönüşümü düşündürüp kalıcı ve kullanışlı yollar uygulatarak kitabın ne kadar değerli olduğunu kanıtlıyor. Eğer kurumunuzda anlamlı ve sürdürülebilir büyümeyi inovasyon odaklı gerçekleştirmek isterseniz yenilik ilkelerinin detaylı olarak anlatıldığı İnovasyonun On Tipi kitabını okuyun.
Bu kitabın yazarlarından Larry Keeley'in tecrübelerinden yararlanmak büyük bir fırsat. Kendisi BusinessWeek tarafından inovasyon alanındaki dünya görüşünü ve paradigmaları değiştiren, yedi yenilik gurusundan biri olarak seçilmiş olup Doblin firmasının kurucusudur. Diğer yazarlar ile birlikte inovasyonun tasarlanması ve sürdürülebilir kılınması konusunda dünya çapında pek çok girişimciyi, yöneticiyi, şirketleri ve startupları etkilemiştir.

This paper is concerned with SMEs in developing economies. The principle topic focuses on the development as well as financing for micro, small and medium enterprises in Poland - one of the fastest growing EU economies and the 9th largest... more

This paper is concerned with SMEs in developing economies. The principle topic focuses on the development as well as financing for micro, small and medium enterprises in Poland - one of the fastest growing EU economies and the 9th largest country in Europe. The issue of growth and development perspectives of small businesses, their role in growth creation in Poland, as well as the access to financial resources are discussed. Special emphasis is put on direct funding to SMEs and their access to bank loans. Moreover, macro- and microeconomic determinants influencing the development of SMEs, influence of the recent financial crisis on the growth of enterprises as well as factors conditioning business activity in Poland are taken into consideration. Poland is seeing positive rates of development despite the economic downturn and its high level of competitiveness, strong economic fundamentals and high flexibility will allow to benefit from the global recovery over the next few years.

The direct effect of access to finance on the growth of Small and Medium Enterprises (SMEs) run by entrepreneurs is well studied. However, there is limited understanding on the difference in the rate of entrepreneurship growth across a... more

The direct effect of access to finance on the growth of Small and Medium Enterprises (SMEs) run by entrepreneurs is well studied. However, there is limited understanding on the difference in the rate of entrepreneurship growth across a nation. Further, the empirical findings relating to the financial literacy of entrepreneurs significantly differ across different geographic communities. Thus, the purpose of this study is to examine the impact of financial literacy on the relationship between access to finance and the business growth of the SME Sector in the Northern Province of Sri Lanka in the post-civil war context, as SMEs promote resilience of communities to recover from adversities such as civil war. The Indebtedness of Northern Province has suddenly increased, as there is a sharp growth evident in the average debt per family in the post-civil war context. Thus, demonstrating the lack of proper financial literacy and the discipline required to be financially stable, is a crucial benchmark for a successful business. According to the model of ambidextrous management in entrepreneurial growth companies, entrepreneurship is process where the entrepreneurial orientation turns into implementation and thereby leads to the business growth. However, the effect of access to finance to the entrepreneurs and the impact of financial literacy of the entrepreneur on this relationship are not examined. Thus, this study incorporates the effect of access to finance and the moderating effect of financial literacy to the existing model. It was evident from this study that, access to finance has a direct impact on the growth of the SMEs in the Northern Province of Sri Lanka. The result also reflects that the financial literacy and ability to make the financial decisions influence access to finance, resulting in business growth.

Despite the scientific evidence on the positive effect of venture capital (VC) on portfolio firm performance, such evidence badly pulls up alongside the non-negligible number of entrepreneurial firms that receive an offer by a VC fund and... more

Despite the scientific evidence on the positive effect of venture capital (VC) on portfolio firm performance, such evidence badly pulls up alongside the non-negligible number of entrepreneurial firms that receive an offer by a VC fund and choose to refuse it. We investigate the microeconomic determinants behind the missed realizations of VC investor-investee dyads by focusing on the Italian VC market, that represents an ideal test bed for our identification strategy. We investigate firm characteristics that lead entrepreneurs to refuse VC, which motivations are behind this choice and which is the impact on firm growth.

An empirical study has been carried out to find out for borrowers what factors lead to difficulty or satisfaction in the borrowing process and for non-borrowers it has tried to identify reasons behind not seeking institutional finance.... more

An empirical study has been carried out to find out for borrowers what factors lead to difficulty or satisfaction in the borrowing process and for non-borrowers it has tried to identify reasons behind not seeking institutional finance. The broad objective of the study is to find out the problems being faced by MSMEs in obtaining institutional finance. The survey was conducted in the Kamrup district of Assam using questionnaires presented to both registered and unregistered MSMEs. The conclusion from the study was that registration did not have much influence over borrowing behaviour of MSMEs. Also, both borrowers and non-borrowers were found to have the highest problems with security requirements.

This feasibility study on palm oil distribution in Cross River State is my original research and it is based on the survey and thorough research made by Anaba, Sylvester Anani. The business will be a sole entrepreneurship business, wholly... more

This feasibility study on palm oil distribution in Cross River State is my original research and it is based on the survey and thorough research made by Anaba, Sylvester Anani. The business will be a sole entrepreneurship business, wholly owned by Anaba, Sylvester Anani.
From the research carried out, it was discovered that the demand for palm oil in Cross River State is not fully satisfied; though there are existing palm oil distributing outlets in the state, but oil is supplied on a small scale by petty traders.
Premium upon the supply gap, and the high demand for palm oil in Cross River State, I decided to bridge the gap by venturing into this business so as to meet the high demand of palm oil in Cross River State.
The legal requirement for this business such as local government revenue tax, business premises, vigilante and other requirements had been considered, and will be complied to.
This business will provide employment opportunity for at least fifty people. More so, the problem of scarcity and high cost of palm oil in Cross River State will be a thing of the past.

“Attract financial backing will be essential”. Entrepreneurs don’t have a lot of time and yet they have many urgent needs. In turn, the world has always been and will always be in desperate need of entrepreneurs. They take a brilliant... more

“Attract financial backing will be essential”. Entrepreneurs don’t have a lot of time and yet they have many urgent needs. In turn, the world has always been and will always be in desperate need of entrepreneurs. They take a brilliant idea and make a flourishing business out of it. They are the life blood of the economy that is required to create new wealth. They help sustain people within their economies and communities across the world. That’s why I’ve written this easily digestible book. It’s packed with information condensed down to a form that you can consume easily about how to attract that financial backing. Entrepreneurship is what has made many nations great historically. New Zealand is a good example. This is the challenge for New Zealanders today and for government of whatever hue. We need to create an environment in which the next generation of entrepreneurs will pick up the challenge, and grow the wealth back into this country for the benefit of themselves and for our people as a whole. It is my hope that this small book will motivate the many people who articulate the value of entrepreneurship to ask the next set of questions and do something about them so that New Zealand becomes a magnet for entrepreneurs and we all benefit from their energy and efforts. This book is a great starting point for those who are up to the challenge!

One of the best parts about our jobs is the opportunity to talk with business owners and aspiring entrepreneurs about their ventures and ideas. Entrepreneurs and small business owners share their successes, failures, goals and... more

One of the best parts about our jobs is the opportunity to talk with business owners and aspiring entrepreneurs about their ventures and ideas. Entrepreneurs and small business owners share their successes, failures, goals and difficulties encountered. A frequent concern expressed is the ability to attract sufficient financial backing to start and grow their firms. We have written this easily digestible book for entrepreneurs interested in attracting financial backing. It’s packed with information condensed down to a form that you can consume easily about how to attract that financial backing. It is our hope that this small book will motivate Australian entrepreneurs to ask the right set of questions and carry out the right set of actions so that we all benefit from their energy and efforts. This book is a great starting point for those who are up to the challenge!

Full papers Entrepreneurship and Family Enterprise Research International Conference (EFERIC)

This study aims to determine the level of financial literacy and the effect of financial literacy and financial attitude on the financial behavior of young entrepreneurs. This study uses a survey method and a combination of data analysis... more

This study aims to determine the level of financial literacy and the effect of financial literacy and financial attitude on the financial behavior of young entrepreneurs. This study uses a survey method and a combination of data analysis that uses descriptive analysis to calculate the level of financial literacy and multiple regression analysis. The results of the study show that the financial literacy of young pioneering business entrepreneurs is in the moderate category, financial literacy does not affect the financial behavior of young pioneering business entrepreneurs, and financial attitude affects the financial behavior of young pioneering business entrepreneurs.

A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares); these may include securities... more

A stock market, equity market or share market is the aggregation of buyers and sellers (a loose network of economic transactions, not a physical facility or discrete entity) of stocks (also called shares); these may include securities listed on a stock exchange as well as those only traded privately.

Entrepreneurship is what has made many nations great historically. To help our entrepreneurs succeed today, we need to create an environment in which the next generation of entrepreneurs will pick up the challenge, and grow the wealth... more

Entrepreneurship is what has made many nations great historically. To help our entrepreneurs succeed today, we need to create an environment in which the next generation of entrepreneurs will pick up the challenge, and grow the wealth back into this country for the benefit of themselves and for our people as a whole. It is our hope that this small book will motivate the many people who articulate the value of entrepreneurship to ask the next set of questions and do something about them so that we all benefit from their energy and efforts. This book is a great starting point for those who are up to the challenge!

Entrepreneurship has been seen as a linchpin for economic development, employment generation, citizen empowerment and wealth creation all over the world. More importantly, entrepreneurship development has been conceived as an instrument... more

Entrepreneurship has been seen as a linchpin for economic development, employment generation, citizen
empowerment and wealth creation all over the world. More importantly, entrepreneurship development has been
conceived as an instrument to suppress major avatars of poverty and socioeconomic deprivations among
Nigerian citizens and for engendering social cohesion. However, harnessing the foregoing benefits has been
hamstrung by lack of access to or inadequate supply of entrepreneurial finance. In addition to blistering
ecological forces such as spotty power supply, an inept and unorganised political leadership that is irresponsible
and irresponsive to the plight of the people, polygonal political corruption, putrefied or inadequate basic
infrastructure like roads, among others, lack of SME finance has remained a minatory albatross to
entrepreneurship development in the country. This paper, therefore, examined extant SME funding windows in
Nigeria, identified their challenges and proffered solutions, while generally suggesting ways to operationalise
both existing and neoteric funding options to enable entrepreneurship development happen in Nigeria.

Crowdfunding is a collective effort by people who network and contribute collectively for a cause or a business idea. This seems very similar to the traditional concept of charity or social cooperation but unlike funding here is done with... more

Crowdfunding is a collective effort by people who network and contribute collectively for a cause or a business idea. This seems very similar to the traditional concept of charity or social cooperation but unlike funding here is done with an objective of earning some return either monetary or intangible. The modern day crowdfunding is associated with internet and the use of social media for fundraising. In India crowdfunding is still in its nascent stage even though the potential is incredibly high. The paper studies the select Indian online crowdfunding platforms (CFPs), their area of focus, fund raising strategies, and their revenue models. CFPs not only support business activities but also social causes. E.g. Ketto (www.ketto.org) supports NPO, creative and social causes through the platform. The CFPs were selected to represent a diverse set of crowdfunding sectors and the availability of data.
Keywords: Crowdfunding, Online Platforms, Campaigns

Book of abstracts of the Entrepreneurship and Family Enterprise Research International Conference (EFERIC)

This paper examines the market for initial coin offerings (ICOs). ICOs are smart contracts based on blockchain technology that are designed for entrepreneurs to raise external finance by issuing tokens without an intermediary. Unlike... more

This paper examines the market for initial coin offerings (ICOs). ICOs are smart contracts based on blockchain technology that are designed for entrepreneurs to raise external finance by issuing tokens without an intermediary. Unlike existing mechanisms for early-stage finance, tokens potentially provide investors with rapid exit opportunities thanks to liquid trading platforms. The marketability of tokens offers novel insights into entrepreneurial finance, which I explore in this paper. First, I document that investors earn on average 8.2% on the first day of trading. However, about 40% of all ICOs destroy investor value on the first day of trading. Second, I explore the determinants of market outcomes and find that management quality and the ICO profile are positively correlated with the funding amount and returns, whereas highly visionary projects have a negative effect. Among the 21% of all tokens that get delisted from a major exchange platform, highly visionary projects are more likely to fail, which investors anticipate. Third, I explore the sensitivity of the ICO market to adverse industry events such as China's ban of ICOs, the hack of leading ledgers, and the marketing ban on FaceBook. I find that the ICO market is highly susceptible to such environmental shocks, resulting in substantial welfare losses for investors.

Over the last decade, the needs of financing entrepreneurship have hoisted a new matter in the forefront: entrepreneurial finance. The Arab-Muslim world can no longer be exempted from such an evolution. Conscious of the importance of this... more

Over the last decade, the needs of financing entrepreneurship have hoisted a new matter in the forefront: entrepreneurial finance. The Arab-Muslim world can no longer be exempted from such an evolution. Conscious of the importance of this emerging course, the Islamic Economics Institute of King Abdulaziz University upheld it during the elaboration of its executive Master in Islamic finance following an international benchmark beyond the speciality itself. This article proposes to highlight the particularities of this field with reference to the conventional Islamic finance programs in which the majority rely on the triptych: finance, Islamic jurisprudence, Law. The teaching of entrepreneurial finance ought to be spread in Saudi Arabia with regard to the evolution of the global economy, the development of digital technologies and the diffusion of the entrepreneurial mind within a non-negligeable part of a new generation of graduates.

This paper analysed the determinants of agricultural entrepreneurial intentions of the unemployed in urban Kano, Nigeria, using three different multinomial logistic models fitted to the primary data obtained via structured questionnaire... more

This paper analysed the determinants of agricultural entrepreneurial intentions of the unemployed in urban Kano, Nigeria, using three different multinomial logistic models fitted to the primary data obtained via structured questionnaire from the 173 out of 200 targeted respondents. The results suggest that age explains the likelihood of starting or engaging in agricultural business. Gender and educational levels were not significant in explaining the likelihood of starting the business. Inadequate capital was found to explain the likelihood. Family and cognitive ability (self) as motivational variables were insignificant in explaining the likelihood. Risk tolerance was found to explain the likelihood of starting the agricultural business. Employment status was found significant in explaining the likelihood. Innovative ability was insignificant in explaining the likelihood. The paper recommends that entrepreneurial support should be geared toward young ages as against old age; as the size of youth unemployed outweighed that of old age in the study area. Promoters of entrepreneurship could use risk tolerance behaviour in selecting people to support. Capital should be made available by the concerned institutions to enable persons preparing to start the agricultural business to start. Researchers could also incorporate other predictor variables in analysing the determinants or employ different models, like nested models against non-nested models used in this study.

Crowdfunding has enabled large crowds to fund innovative projects. This type of funding might tap into the wisdom of crowds who were previously disconnected from the funding process. We distinguish between in-crowd and out-crowd funders... more

Crowdfunding has enabled large crowds to fund innovative projects. This type of funding might tap into the wisdom of crowds who were previously disconnected from the funding process. We distinguish between in-crowd and out-crowd funders (with and without ties to project creators) in order to test for heteroge-neity in their information use. Based on the analysis of a large-scale survey amongst project funders, this paper shows that in-crowd investors rely more on information about the project creator than out-crowd investors. Out-crowd investors do not seem to attach more importance to information about the project itself than in-crowd investors, except in the case of donation-based crowdfunding. For financial return crowdfunding, financial information becomes less important once a strong relationship with the project creator is established. Our study allows project creators to target information to specific audiences based on their relationship strength across different types of crowdfunding projects.

We test whether born-to-be-green represents a signal toward potential venture capital (VC) investors - on a sample of Italian, independent, unlisted, high-tech entrepreneurial firms. We employ several identification strategies by... more

We test whether born-to-be-green represents a signal toward potential venture capital (VC) investors - on a sample of Italian, independent, unlisted, high-tech entrepreneurial firms. We employ several identification strategies by controlling for the major potential signals, and the alleged selection bias between green and non-green entrepreneurs. We exploit firm-level information about the “active searching for VC financing”. Alternatively, we exploit the cross-region variation in local government laws to foster green innovations in an Instrumental Variables setting. Our results show that running a green business per se is not correlated with the likelihood to receive VC, while the perception to run a green business is strongly and positively correlated with the likelihood to get VC. When investigating the contingencies associated to the effectiveness of the born-to-be-green signal – and the entrepreneurial ability to sell it – we find that only entrepreneurs who run a green business and perceive it as green are more likely to get VC funding.

Over the past two decades, service organisations have considered total quality management (TQM) as an efficient management tool to enhance their service quality. They have started to show an intense interest in TQM by operating on quality... more

Over the past two decades, service organisations have considered total quality management (TQM) as an efficient management tool to enhance their service quality. They have started to show an intense interest in TQM by operating on quality and related environments. TQM has grown a major area of interest to practitioners, managers and researchers owing to its strong influence on business performance, customer contentment and profitability. At this outset, an attempt has been done to study and identify the theory and notion of TQM, its dimensions in different facets of services. This analysis explores the literature on the execution of TQM in specific service industries. The results of this study facilitate a rich contribution towards TQM attributes in the service divisions and critical variables for assisting successful operation of TQM. Based on the findings a complete TQM model has been suggested which is people acquainted and may be best fits to the service organisations.

Corporate venture capital (CVC) investors are regularly painted with the same brush, a fact underscored by the often observed belief in the extant literature that corporate venture capitalists (CVCs) form a homogeneous group. In contrast... more

Corporate venture capital (CVC) investors are regularly painted with the same brush, a fact underscored by the often observed belief in the extant literature that corporate venture capitalists (CVCs) form a homogeneous group. In contrast to this simplifying perspective, this paper categorizes CVCs into subgroups by examining their levels of strategic and financial investment motivation using computer-aided text analysis and cluster analysis. To validate the resulting clusters, this paper studies the impact of CVC type on startup valuation from an intra-group perspective by applying hierarchical linear modeling, thus illustrating which particular investment motivation might be preferable to others in the context of negotiating valuations. An empirical analysis of 52 CVC mission statements and 147 startup valuations between January 2009 and January 2016 revealed that first, CVCs with a strategic investment motivation assign lower startup valuations than CVCs with an analytic motivation that have moderate levels of the two scrutinized dimensions, suggesting that entrepreneurs trade off these CVCs’ value-adding contributions against a valuation discount; second, CVCs with an unfocused investment motivation pay significantly higher purchase prices, thus supporting the hypothesis that they have a so-called liability of vacillation; and third, the valuations of CVCs with a financial investment motive are not significantly different from those of their analytic peers. In sum, our results add to the knowledge of the continuum of corporate investors’ investment motivation by illustrating how startup valuations differ across CVC types.

The purpose of this paper is to establish the moderating effect of financial literacy in the relationship between access to finance and growth of small and medium enterprises (SMEs) in developing economies. Thus, this study seeks to... more

The purpose of this paper is to establish the moderating effect of financial literacy in the relationship between access to finance and growth of small and medium enterprises (SMEs) in developing economies. Thus, this study seeks to establish whether financial literacy moderates the relationship between access to finance and growth of SMEs in a developing economy like Uganda.,Cross-sectional research design was used in the study and data were collected from 169 SMEs located in Jinja and Iganga central markets. ModGraph (excel programme) was used to test for the moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies.,The findings reveal a positive and significant moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. In addition, financial literacy and access to finance also have significant and positive effects on growth of SMEs in deve...

Yalın girişimciliğin ve startup'ların gelişimi, vizyon ve inovatif düşünme yeteneğine sahip bireylere bağlıdır. Girişimcilerin kazancı, yüksek büyümeyi hızlandırmaları için verileri kullanmayı öğrenerek müşteri etkileşimini artırması... more

Yalın girişimciliğin ve startup'ların gelişimi, vizyon ve inovatif düşünme yeteneğine sahip bireylere bağlıdır. Girişimcilerin kazancı, yüksek büyümeyi hızlandırmaları için verileri kullanmayı öğrenerek müşteri etkileşimini artırması bakımından çok önemlidir. Bu amaçla, yalın girişimcilik alanında önemli danışmanlardan olan Brant Cooper ve Patrick Vlaskovits, bu kitabı kaleme alarak girişimciliğin inovatif yönüne vurgu yapmış ve alana katkıda bulunmuşlardır. Yazarlar bu kitapta, teknolojinin içinde ve dışında faaliyet gösteren onlarca girişimci ve startup fitma sahipleri ile görüşerek çeşitli vaka incelemelerini paylaşmışlardır.
Yeni bir girişimin oluşumunun ilk aşamalarında belirsizlik vardır. Ancak bu belirsizlik karşısında tahmin ve planlama gibi geleneksel müdahaleler artık yeterli gelmemektedir. İşte Yalın Girişim, tam da bu noktada devreye girmektedir. Bu kitapla Yalın Girişimcilere inovasyon odaklı, bilimsel verilere dayanan, test ve deneylerle ölçümlenebilir yeni bir yönetim anlayışı aktarılması amaçlanmıştır. Bu kitap vasıtasıyla girişimciler; müşterilerle nasıl iletişim kurulacağını, denemelerin nasıl gerçekleştirileceğini ve iş girişimlerinde elverişli verilerin nasıl kullanılması gerektiğini öğrenip bu doğrultuda girişimlerine inovasyon katabileceklerdir.
Bu kitap, kurumların işletme modellerine ilişkin zorlukların belirlenip bunlar üzerinde çalışılmasını sağlayacak yeni düşünme biçimleri, araçlar ve aktiviteler sunmaktadır. Startup'ın ne olduğu, bu doğrultuda vizyon, değerler ve kültürün etkileri üzerinde yeni bir vizyon vermektedir. Ayrıca inovatif bir vizyon için müşteri etkileşimi ve yalınlık, uygulanan gerçek vaka incelemeleriyle detaylandırılmıştır. Bu bakımdan Yalın Girişimci kitabının, sistemli ve inovatif bir girişimin oluşmasına rehberlik etmesi açısından okunması gerekir. Kitap sadece yeni girişimciler için değil, aynı zamanda üniversitelerde girişimcilik kültürü kapsamında da değerlendirilmesi gereken bir kaynaktır. Ayrıca, işletmelerde özellikle araştırma ve inovasyon odaklı çalışmalara önem veren şirket sahiplerinin ve yöneticilerin başvuru kitabı olarak değerlendirebilecekleri bir referans niteliği de taşımaktadır.

Crowd-funding is a new fundraising method that utilizes the power of the Crowd. Even though it has attracted the interest of academics and profes-sionals, there is a lack of in-depth research on the crowd-funding method. This paper aims... more

Crowd-funding is a new fundraising method that utilizes the power of the Crowd. Even though it has attracted the interest of academics and profes-sionals, there is a lack of in-depth research on the crowd-funding method. This paper aims to create a participation model, and it sets a marketing framework based on the extant literature from different disciplines that they are related to crowd participation. Different motivators that lead to the partici-pation in a crowdfunding campaign have been found in the literature, yet ac-cording to different studies social motives have the strongest influence among others on the participation. Also this paper proposes Entrepreneurial Marketing as a new thought in the marketing discipline; Entrepreneurial Marketing not only helps entrepreneurs to meet their specific strategy goals, but it also provides a framework that leads to a better understanding of the method itself.

Most of the entrepreneurial venture exit business in first few years. Failures are more common than success. Entrepreneur and firm as distinct entities can quit market together or individually. The firm survives through transfer of... more

Most of the entrepreneurial venture exit business in first few years. Failures are more common than success. Entrepreneur and firm as distinct entities can quit market together or individually. The firm survives through transfer of ownership and entrepreneur survives through different avocation or a subsequent entrepreneurial attempt. Quit may not be final for entrepreneurial process. Entrepreneurial exit is a contrarian action to venture creation and thus has to be result of fundamental paradigm shift. The intervening period between venture creation and exit is a measure of entrepreneurial persistency. The objectives to understand the antecedents and contexts dictated an exploratory research design. Quit is generally labelled as failure and very few like to be identified as one. This aspect creates a methodological limitation for the research design. Through a purposive selection, a focus group discussion (FGD) was conducted among the entrepreneurs who have exited. FGD was video recorded. Transcript was prepared and verified from the participants. At the first stage entrepreneurs discussed about their own context of exit and subsequently the group discussed about common exit factors. Findings of exploratory research with purposive sampling can't be generalized, however this research finds exit factors not reported in previous researches. Entrepreneurial exit is influenced by personal factors, market forces and social factors. Under socio-cultural factors this research finds that sabotage, general lack of employee professionalism influences exit decision. For further substantiation and generalisation, a multi-method approach to this research is proposed. The findings help in creating entrepreneurial awareness and emphasize the need of having mitigation strategies for such risk of exit.

Application of bootstrap financing methods had been very popular among small-scale entrepreneurs in Indonesia. This was because their access to capital was still very limited. Although bootstrap financing methods were used by many... more

Application of bootstrap financing methods had been very popular among small-scale entrepreneurs in Indonesia. This was because their access to capital was still very limited. Although bootstrap financing methods were used by many entrepreneurs, the risk factors, timing, market share, education, age, and gender was not yet known. This study aimed to determine whether there was an influence of risk, time, market share, education, age, and gender of the application of bootstrap financing methods. The sample in this study was small and medium entrepreneurs in the city of Surabaya. The sampling method used was stratified random sampling. The analysis technique used was multiple regression. The results of this study showed that the risk factors, time, age, and gender affected significantly to the application of the bootstrap method significant financing, while the market share and education had no significant effect.

The United Kingdom Science and Technology Parks Survey (UKSTP Survey) is a new survey conducted by Aston Business School to provide a means to measuring the levels and types of cooperatives and coopetitive innovation activities among... more

The United Kingdom Science and Technology Parks Survey (UKSTP Survey) is a new survey conducted by Aston Business School to provide a means to measuring the levels and types of cooperatives and coopetitive innovation activities among small and medium sized businesses located in Science and Technology Parks in the United Kingdom. ​A detailed understanding of on-site companies’ perceptions and innovation driven plans will be valuable to the Government, national and regional policy makers, businesses, and other stakeholders in helping to guide regional development policies and support SMEs' growth in all parts of the United Kingdom.
If you require any further information about this study or have queries regarding your participation, please do not hesitate to contact us at (esg-scienceparksproject@aston.ac.uk).
The project website: http://www.ukstpsurvey.co.uk/

This Seminar presentation provokes a re-visit of the decision, by the Central Bank of Nigeria (CBN), to establish Non Interest (Islamic) Banking system in Nigeria, against the backdrop of the country's status as a secular State. The... more

This Seminar presentation provokes a re-visit of the decision, by the Central Bank of Nigeria (CBN), to establish Non Interest (Islamic) Banking system in Nigeria, against the backdrop of the country's status as a secular State. The renaissance of the proposal to introduce the Islamic banking system in Nigeria in recent time by the Central Bank of Nigeria (CBN) has generated so much controversy across the country. The policy legally permits operation of an Islamic or Interest-free banking system in the country alongside with conventional counterpart to strengthen the financial intermediation process through Islamic banking services. The work presentation takes a critical look at the premises on which the objection is based. It also examined the legal basis for the introduction of the system and the viability in operation and patronage of the products. Thus, the outcome of the study was analyzed using chi square statistical tool and appropriate conclusion and recommendations were presented on the findings.