Risk, capabilities, and international venture capital syndication in China

2019 ◽  
Vol 25 (8) ◽  
pp. 1671-1684
Author(s):  
Amir Pezeshkan ◽  
Adam Smith ◽  
Stav Fainshmidt ◽  
Jing Zhang
Keyword(s):  
Risk Factors ◽  
Venture Capital ◽  
Qualitative Comparative Analysis ◽  
Multiple Sources ◽  
Holistic Model ◽  
Firm Capabilities ◽  
Content Type ◽  
Local Partner ◽  
Nuanced Understanding ◽  
Knowledge Depth

Purpose The purpose of this paper is to advance a holistic model of venture capital (VC) firms’ syndication decisions in an emerging economy. When considering syndication with local partners, VC firms consider multiple sources of risk related to firm-specific characteristics (life-cycle, operational and political). In conjunction with these risk factors, they also consider their own capabilities, namely, their knowledge breadth and knowledge depth. Knowledge breadth stems from a VC firm’s network position and knowledge depth is a result of its prior industry expertise. Together, these capabilities have competing impacts on VC firms’ desire to syndicate. From one perspective, VC firm capabilities may help deal with risk such that syndication may not be perceived as necessary. Alternatively, VC firm capabilities may signal attractiveness to a local partner and allow the VC firm to syndicate more easily. Design/methodology/approach Fuzzy-set qualitative comparative analysis is conducted on a sample of 111 US VC firms investing in China between 1993 and 2010. Findings Lower VC firm capabilities are associated with a tendency not to syndicate with a local partner when venture risk factors are low. This pattern may arise because of such VC firms’ relative lack of experience with partnership management or weaker appeal to local partners. Originality/value This study is one of the earliest attempts to develop a neo-configurational perspective within the VC literature and thus contributes to a more nuanced understanding of international VC firms’ strategic behaviour in emerging economies by examining multiple risks and capabilities simultaneously and in conjunction.

Being moral and doing good to others

2017 ◽  
Vol 35 (2) ◽  
pp. 180-191 ◽  
Author(s):  
Felix Septianto ◽  
Bambang Soegianto
Keyword(s):  
Prosocial Behavior ◽  
Moral Judgment ◽  
Cultural Context ◽  
Moral Identity ◽  
Qualitative Comparative Analysis ◽  
Marketing Strategies ◽  
Moral Emotion ◽  
Content Type ◽  
Judgment Process ◽  
Nuanced Understanding

Purpose Although previous research has established that moral emotion, moral judgment, and moral identity influence consumer intention to engage in prosocial behavior (e.g. donating, volunteering) under some circumstances, these factors, in reality, can concurrently influence judgment process. Therefore, it is important to get a more nuanced understanding of how the combinations of each factor can lead to a high intention to engage in prosocial behavior. The paper aims to discuss these issues. Design/methodology/approach This research employs fuzzy-set qualitative comparative analysis to explore different configurations of moral emotion, judgment, and identity that lead to a high consumer intention to engage in prosocial behavior. Findings Findings indicate four configurations of moral emotion, moral judgment, and moral identity that lead to a high intention to engage in prosocial behavior. Research limitations/implications This research focuses on the case of a hospital in Indonesia; thus, it is important not to overgeneralize the findings. Nonetheless, from a methodological standpoint, opportunity emerges to broaden the examinations in other service and cultural contexts. Practical implications The findings of this research can help the hospital to develop effective combinations of advertising and marketing strategies to promote prosocial behavior among its customers. Originality/value This paper provides the first empirical evidence on the existence of multiple pathways of moral emotion, judgment, and identity that lead to a high consumer intention to engage in prosocial behavior. The implications of this research also highlight the importance of cultural context in understanding consumer behavior.

Logics behind evading overnight taxes: a configurational analysis

2020 ◽  
Vol 32 (2) ◽  
pp. 871-888
Author(s):  
Pietro Beritelli ◽  
Stephan Reinhold ◽  
Christian Laesser
Keyword(s):  
Tax Evasion ◽  
Qualitative Comparative Analysis ◽  
Economic Gain ◽  
Content Type ◽  
Consumption Behavior ◽  
Configurational Analysis ◽  
Nuanced Understanding ◽  
The Individual ◽  
Evasion Behavior ◽  
Hospitality Managers

Purpose Overnight taxes are controversial. They affect tourists’ consumption behavior and hotels’ profits. This potentially generates undesirable industry practices such as underreporting overnights to evade overnight taxes. The aim of the paper is to understand the conditions and outcomes of underreporting. This is important because underreporting affects destinations’ tax income, which in turn may have further effects on tourism or other public services. Design/methodology/approach This study uses qualitative comparative analysis to identify what specific combinations of conditions motivate managers of hospitality businesses to evade overnight taxes. Findings While potential economic gain seems to be the obvious answer, this study finds that different configurations of causal conditions account for non-compliance. Four different configurations combining six conditions explain the logics behind hotel overnight tax evasion behavior. The conditions refer to both utilitarian affordances and the individual tax morale of hospitality managers. Certain utilitarian conditions in combination can overrule moral objections to non-compliance. Originality/value The study provides a nuanced understanding of overnight tax evasion motives and suggests how to connect work on tourism taxes with destination governance issues and destination management organization funding.

Optimal design of venture capital financing contracts: the case of Portuguese, Spanish and German markets

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Maria do Rosario Correia ◽  
Raquel F. Ch Meneses
Keyword(s):  
Venture Capital ◽  
Qualitative Comparative Analysis ◽  
Contract Design ◽  
Control Rights ◽  
Content Type ◽  
Convertible Securities ◽  
Mixed Support ◽  
Capital Financing ◽  
Control Right ◽  
And Control

Purpose This study aims to investigate the use of convertible securities and control rights covenants for a sample of 53 Portuguese, Spanish and German venture capital (VC) firms. Design/methodology/approach A relatively new methodology in business sciences – a fuzzy set qualitative comparative analysis – that considers both quantitative and qualitative factors is used for obtaining a solution that best fits the empirical data. Findings The results show that the use of convertible securities is affected by agency predictions, namely, the anticipated severity of double-sided moral hazard problems. On the other hand, a mixed support is provided to the agency predictions regarding the use of control right covenants. The results seem to suggest that control right covenants tend to play a different role from convertible securities in the optimization of contract design for VC-backed investments. Originality/value Existing literature on VC contract design is extended by providing a cross-border analysis to VC financing decision.

Human capital, intellectual capital, and government venture capital

2017 ◽  
Vol 6 (3) ◽  
pp. 359-374 ◽  
Author(s):  
Ikenna Uzuegbunam ◽  
Yin-Chi Liao ◽  
Luke Pittaway ◽  
G. Jason Jolley
Keyword(s):  
Venture Capital ◽  
Intellectual Capital ◽  
Ordinary Least Squares ◽  
New Venture ◽  
Least Squares Regression ◽  
Data Set ◽  
Content Type ◽  
Nuanced Understanding ◽  
Start Ups ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of human and intellectual capital on start-ups’ attainment of government venture capital (GVC). It is theorized that as a result of government predisposition toward enhancing knowledge spillover and certifying underinvested start-ups, different types of human and intellectual capital possessed by start-ups will distinctly affect GVC funding. Design/methodology/approach The Kauffman Firm Survey, a panel data set of 4,928 new US firms over a five-year period (2004-2008), serves as the data source. Ordinary least squares regression, coupled with generalized estimating equations to check for robustness, is used to determine the effect of human and intellectual capital on GVC funding. Findings Founders’ educational attainment has a greater impact than their occupational experience in GVC funding. While the number of patents owned by the start-up increases GVC funding, the number of trademarks and copyrights negatively influence GVC funding. Originality/value By distinguishing between different aspects of human and intellectual capital, this study provides a more nuanced understanding of the influence of new venture resources in the context of GVC.

Risk factors in the refurbishment design process: the case of Malaysia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Azlan Shah Ali ◽  
Cheong Peng Au-Yong
Keyword(s):  
Risk Factors ◽  
Design Process ◽  
Prediction Models ◽  
The Body ◽  
Multiple Sources ◽  
Building Projects ◽  
Repair Work ◽  
Content Type ◽  
Design Performance ◽  
Qualitative Approaches

PurposeRefurbishment projects are mainly due to building physical improvements and extensive repair work. However, it is more difficult to manage refurbishment compared to new building projects, due to risk factors. Therefore, this paper aims to identify the risk variables in the refurbishment design process and how they influence the design performance variables.Design/methodology/approachThe study has been designed using predominantly the triangulation technique, which consists of quantitative and qualitative approaches to ensure appropriate validation of the data and enabled cross-verification of multiple sources. The research subject was 82 refurbishment projects with the contract value of more than RM 500,000.00. This provided a better view of the risk aspects that affect the design performance of refurbishment projects. Meanwhile, the method of procurement used for the selected refurbishment projects were either traditional or design-and-build. These procurement methods were found to be the most commonly used in refurbishment projects in Malaysia.FindingsThis study concludes that the design phase of refurbishment projects is adversely impacted by the risk; whereby variables consisting of services, structural aspects, design fees and clients' attributes affect the design process. Moreover, a prediction model is formulated to estimate the provisional sum of the refurbishment projects. There were two prediction models that have been generated using Statistical Package for Social Science (SPSS). One independent variable of model 1 is not a significant predictor. Thus, another model was produced by using the stepwise method.Originality/valueDespite the fact that the topic of refurbishment has been thoroughly explored by academics and professionals in the past, there is a clear gap which requires clarification in the field of design process and its link to performance of a project. Hence, this paper adds new value to the body of knowledge and widens awareness among the subject audience. There were two prediction models that have been generated using SPSS. Both prediction models were presented in the research.

Social media engagement, service complexity, and experiential quality in US hospitals

2020 ◽  
Vol 34 (6) ◽  
pp. 833-845 ◽  
Author(s):  
Youngsu Lee ◽  
Joonhwan In ◽  
Seung Jun Lee
Keyword(s):  
Social Media ◽  
Demographic Data ◽  
Positive Association ◽  
Customer Engagement ◽  
Service Firms ◽  
Multiple Sources ◽  
Cross Sectional ◽  
Content Type ◽  
Social Media Engagement ◽  
Experiential Quality

Purpose As social media platforms become increasingly popular among service firms, many US hospitals have been using social media as a means to improve their patients’ experiences. However, little research has explored the implications of social media use within a hospital context. The purpose of this paper is to investigate a hospital’s customer engagement through social media and its association with customers’ experiential quality. Also, this study examines the role of a hospital’s service characteristics, which could shape the nature of the interactions between patients and the hospital. Design/methodology/approach Data from 669 hospitals with complete experiential quality and demographic data were collected from multiple sources of secondary data, including the rankings of social media friendly hospitals, the Hospital Compare database, the Center for Medicare and Medicaid (CMS) cost report, the CMS impact file, the Healthcare Information and Management Systems Society Analytics database and the Dartmouth Atlas of Health Care. Specifically, the authors designed the instrumental variable estimate to address the endogeneity issue. Findings The empirical results suggest a positive association between a hospital’s social media engagement and experiential quality. For hospitals with a high level of service sophistication, the association between online engagement and experiential quality becomes more salient. For hospitals offering various services, offline engagement is a critical predictor of experiential quality. Research limitations/implications A hospital with more complex services should make efforts to engage customers through social media for better patient experiences. The sample is selected from databases in the US, and the databases are cross-sectional in nature. Practical implications Not all hospitals may be better off improving the patient experience by engaging customers through social media. Therefore, practitioners should exercise caution in applying the study’s results to other contexts and in making causal inferences. Originality/value The current study delineates customer engagement through social media into online and offline customer engagement. This study is based on the theory of customer engagement and reflects the development of mobile technology. Moreover, this research may be considered as pioneering in that it considers the key characteristics of a hospital’s service operations (i.e., service complexity) when discovering the link between customers’ engagement through a hospital’s social media and experiential quality.

A dynamic simulator for the ergonomics evaluation of powered torque tools for human assembly

2017 ◽  
Vol 37 (1) ◽  
pp. 1-12 ◽  
Author(s):  
Haluk Ay ◽  
Anthony Luscher ◽  
Carolyn Sommerich
Keyword(s):  
Risk Factors ◽  
Joint Torque ◽  
Human Hand ◽  
Model Parameters ◽  
Test Rig ◽  
Musculoskeletal Discomfort ◽  
Data Set ◽  
Content Type ◽  
Working Posture ◽  
Displacement Measurements

Purpose The purpose of this study is to design and develop a testing device to simulate interaction between human hand–arm dynamics, right-angle (RA) computer-controlled power torque tools and joint-tightening task-related variables. Design/methodology/approach The testing rig can simulate a variety of tools, tasks and operator conditions. The device includes custom data-acquisition electronics and graphical user interface-based software. The simulation of the human hand–arm dynamics is based on the rig’s four-bar mechanism-based design and mechanical components that provide adjustable stiffness (via pneumatic cylinder) and mass (via plates) and non-adjustable damping. The stiffness and mass values used are based on an experimentally validated hand–arm model that includes a database of model parameters. This database is with respect to gender and working posture, corresponding to experienced tool operators from a prior study. Findings The rig measures tool handle force and displacement responses simultaneously. Peak force and displacement coefficients of determination (R2) between rig estimations and human testing measurements were 0.98 and 0.85, respectively, for the same set of tools, tasks and operator conditions. The rig also provides predicted tool operator acceptability ratings, using a data set from a prior study of discomfort in experienced operators during torque tool use. Research limitations/implications Deviations from linearity may influence handle force and displacement measurements. Stiction (Coulomb friction) in the overall rig, as well as in the air cylinder piston, is neglected. The rig’s mechanical damping is not adjustable, despite the fact that human hand–arm damping varies with respect to gender and working posture. Deviations from these assumptions may affect the correlation of the handle force and displacement measurements with those of human testing for the same tool, task and operator conditions. Practical implications This test rig will allow the rapid assessment of the ergonomic performance of DC torque tools, saving considerable time in lineside applications and reducing the risk of worker injury. DC torque tools are an extremely effective way of increasing production rate and improving torque accuracy. Being a complex dynamic system, however, the performance of DC torque tools varies in each application. Changes in worker mass, damping and stiffness, as well as joint stiffness and tool program, make each application unique. This test rig models all of these factors and allows quick assessment. Social implications The use of this tool test rig will help to identify and understand risk factors that contribute to musculoskeletal disorders (MSDs) associated with the use of torque tools. Tool operators are subjected to large impulsive handle reaction forces, as joint torque builds up while tightening a fastener. Repeated exposure to such forces is associated with muscle soreness, fatigue and physical stress which are also risk factors for upper extremity injuries (MSDs; e.g. tendinosis, myofascial pain). Eccentric exercise exertions are known to cause damage to muscle tissue in untrained individuals and affect subsequent performance. Originality/value The rig provides a novel means for quantitative, repeatable dynamic evaluation of RA powered torque tools and objective selection of tightening programs. Compared to current static tool assessment methods, dynamic testing provides a more realistic tool assessment relative to the tool operator’s experience. This may lead to improvements in tool or controller design and reduction in associated musculoskeletal discomfort in operators.

A cognitive process model of trust repair

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Edward C. Tomlinson ◽  
Christopher A. Nelson ◽  
Luke A. Langlinais
Keyword(s):  
Structural Change ◽  
Organizational Justice ◽  
Attribution Theory ◽  
Cognitive Process ◽  
Process Model ◽  
Causal Attribution ◽  
Content Type ◽  
Trust Repair ◽  
Nuanced Understanding ◽  
Practical Implications

Purpose This paper aims to investigate how the reparative efforts of extensive apologies, compensation and structural change affect trust after a violation has occurred. Specifically, this paper presents a cognitive process model positing that voluntary reparative efforts will shape the victim’s stability attributions for the cause of the violation such that it will be deemed less stable (i.e. unlikely to recur); as a result, the victim is more likely to perceive the transgressor as being fair, and hence extend subsequent trust. Design/methodology/approach Two experiments were conducted to test the cognitive process model. Findings The results of both experiments supported this predicted sequence for extensive apologies. Support for the predicted sequence was also found when compensation and structural change are invoked as reparative efforts. Originality/value This research has theoretical and practical implications for a more nuanced understanding of how causal attribution theory and organizational justice theory can be integrated within the context of trust repair.

Predicting recidivism for offenders in UK substance dependence treatment: do mental health symptoms matter?

2014 ◽  
Vol 4 (2) ◽  
pp. 102-115 ◽  
Author(s):  
Josefien J.F. Breedvelt ◽  
Lucy V. Dean ◽  
Gail Y. Jones ◽  
Caroline Cole ◽  
Hattie C.A. Moyes
Keyword(s):  
Mental Health ◽  
Risk Factors ◽  
Substance Dependence ◽  
Mental Health Symptoms ◽  
Health Symptoms ◽  
Content Type ◽  
Health Factors ◽  
Substance Dependence Treatment ◽  
One Year ◽  
Mental Health Factors

Purpose – The purpose of this paper is to assess whether mental health symptoms affect one-year reoffending rates upon release from prison for participants engaging in substance dependence treatment in the UK. Design/methodology/approach – A retrospective cohort study was used to assess reconviction outcomes upon release. The Comprehensive Addiction and Psychological Evaluation (CAAPE) was administered to 667 inmates admitted to the programme. The effect of mental health, drug use, and static risk factors on reoffending was assessed at one-year post release. Findings – Logistic regression analysis showed that symptoms of Major Depressive Disorder at the start of substance dependence treatment increased the likelihood to reoffend, whilst Obsessive Compulsive Disorder symptoms and length of sentence decreased the likelihood to reoffend. Antisocial Personality Disorder symptoms show a trend towards increasing the likelihood to reoffend. In addition, previously established risk factors for reoffending, including dependence on heroin, crack/cocaine, and poly drug use significantly increased the likelihood of reconviction. Practical implications – Depressive symptomatology pre-treatment could affect reoffending outcomes for participants in substance dependence treatment in prison. An integrative approach addressing both substance misuse and mental health factors is pivotal. Future efforts to address both simultaneously can be made to improve assessment, training, treatment, and through care for prisoners in substance dependence treatment. Originality/value – Few studies have assessed the effect of mental health factors on reoffending outcomes for offenders in substance dependence treatment. A large sample was studied in an understudied population of UK prisoners in substance dependence treatment. The results have implications for clinical settings where mental health symptoms are not addressed concurrently with substance dependence. This finding can inform policy makers and practitioners who provide substance dependence treatment in prison.

Configurational examination of successful human resources outsourcing

2017 ◽  
Vol 55 (8) ◽  
pp. 1681-1697
Author(s):  
Thuy Thi Thanh Nguyen ◽  
Man-Ling Chang
Keyword(s):  
Human Resources ◽  
Design Methodology ◽  
Qualitative Comparative Analysis ◽  
Task Interdependence ◽  
It Use ◽  
Research Attention ◽  
Content Type ◽  
Provider Quality ◽  
Core Condition ◽  
Practical Implications

Purpose The causal conditions leading to successful human resources outsourcing (HRO) have until now attracted only limited research attention. To address this shortcoming, the purpose of this paper is to investigate how a firm and a HR provider should work together to ensure successful HRO. Design/methodology/approach By applying a fuzzy-set qualitative comparative analysis, the authors demonstrate how combining in different ways provider quality, business understanding, trust, and closed HRO networks can lead to HRO success. In addition, this study compares the causal combinations between cases with differing levels of HR-task interdependence and IT use. Findings The results of this study reveal three common solutions that lead to successful HRO from both economic and relational viewpoints. The findings also indicate that, from an economic viewpoint, trust is a core condition for achieving HRO success. Moreover, HR-task interdependence and IT use alter the number of solutions and the conditions for attaining HRO success. Practical implications Based on the solutions proposed herein, firms can consider different ways to achieve HRO success under diverse conditions. Originality/value This work also contributes to building new theories regarding HRO, trust, knowledge sharing, and IT use.

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