Gender difference in equity crowdfunding: an exploratory analysis

2018 ◽  
Vol 10 (4) ◽  
pp. 332-343 ◽  
Author(s):  
Ross Malaga ◽  
Stanislav Mamonov ◽  
Janet Rosenblum
Keyword(s):  
Small Businesses ◽  
Design Methodology ◽  
New Ventures ◽  
Exploratory Analysis ◽  
Data Set ◽  
Content Type ◽  
Limited Impact ◽  
Equity Crowdfunding ◽  
The Usa

Purpose Title II of the Jumpstart Our Business Startups Act aims to make it easier for new ventures to raise funds from accredited investors via equity crowdfunding. The purpose of this paper is to understand whether Title II equity crowdfunding represents an opportunity for women-owned companies (those that have one or more female owners/founders) to raise capital at rates similar to companies owned by men. Design/methodology/approach The authors conduct an exploratory analysis using a data set containing 6,234 Title II equity crowdfunded offerings aggregated across 17 crowdfunding platforms between September 2013 and December 2015. Findings The authors find that women-owned companies constitute only 15.2 per cent of the ventures seeking funding in this data set; however, gender had no effect on the likelihood of successful fundraising under Title II. Originality/value This study is the first to examine the roll of gender on the success of equity crowdfunding campaigns the USA. It provides empirical evidence that crowdfunding has had limited impact on democratizing access to capital for woman-owned startups and small businesses. The data reveal that woman-owned companies are underrepresented in Title II equity crowdfunding to an even greater extent than they are underrepresented in angel and venture capital (VC) investments. The results of this study also highlight the importance of examining the role of gender in equity crowdfunding across different countries.

scholarly journals Does the crowd mean business? An analysis of rewards-based crowdfunding as a source of finance for start-ups and small businesses

2018 ◽  
Vol 25 (1) ◽  
pp. 147-162 ◽  
Author(s):  
Joe Cox ◽  
Thang Nguyen
Keyword(s):  
Small Businesses ◽  
Financial Support ◽  
Design Methodology ◽  
Set Covering ◽  
Data Set ◽  
Content Type ◽  
Unique Data ◽  
The Usa ◽  
The Uk ◽  
Start Ups

Purpose The purpose of this paper is to investigate the extent to which rewards-based crowdfunding really does provide financial support for start-ups and small businesses relative to other types of activity such as creative and cultural projects. Design/methodology/approach The paper reports findings from a series of multiple regression on a unique data set covering around 205,000 rewards-based crowdfunding projects across a number of leading platforms in the USA, the UK and Canada. Findings The authors report two main findings. First, rewards-based crowdfunding is highly inequitably distributed and that success is concentrated within a relatively small number of platforms and campaigns. Second, crowdfunding campaigns explicitly related to business perform relatively poorly compared with those in other categories; particularly those in creative areas such as music and dance. Originality/value These findings call into question the extent to which rewards-based crowdfunding really is a means by which significant numbers of start-ups can bridge gaps in the provision of finance.

A literature review exploring the role of technology in business survival during the Covid-19 lockdowns

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Salma S. Abed
Keyword(s):  
Literature Review ◽  
Small Businesses ◽  
Design Methodology ◽  
Human Life ◽  
Critical Role ◽  
Business Survival ◽  
Content Type ◽  
The Impact ◽  
Business Sectors

Purpose The Covid-19 pandemic has affected every aspect of human life. Even though the pandemic length was not too long, a huge volume of research relating to Covid-19 has been published in different contexts. This paper aims to review the literature investigating the impact of Covid −19 on businesses generally and explore studies examining the technology role of business survival during the Covid-19 lockdowns specifically. Design/methodology/approach This study implemented the concept of a systematic review approach to review the literature that has been conducted in the business field during the Covid-19 crisis in general. Additionally, it looks into the research examining the role of technology in business survival in the Covid-19 crisis specifically. All studies were conducted in 2020. A total of 53 studies were identified and categorised into different themes. The research methods, theories and locations have also been analysed. Findings It was found that Covid-19 pandemic has affected all business sectors in several ways. Technology adoption has a critical role for business survival during the Covid-19 crises especially with small businesses. Very limited research has been conducted on the adoption of different technologies during the Covid-19 lockdowns. Originality/value This study presents the most frequent themes and topics that have been explored in the literature during the Covid-19 crisis in the business field. It highlights the methods used in addition to the theories and research locations present in this literature. Finally, it proposes the possible implications of this literature review.

Confronting the unprecedented: micro and small businesses in the age of coronavirus disease 2019

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alessandro Bressan ◽  
Abel Duarte Alonso ◽  
Seng Kiat Kok
Keyword(s):  
Small Businesses ◽  
Design Methodology ◽  
Small Firms ◽  
Theory Of Planned Behaviour ◽  
Theoretical Framework ◽  
Wine Industry ◽  
Online Questionnaire ◽  
Content Type ◽  
Key Stakeholders

PurposeThe purpose of this study is to understand how micro and small firms are navigating through the coronavirus disease 2019 (COVID-19) threat, and the alternatives they are implementing to coexist with the ongoing crisis. To this end, Italy's socioeconomically and traditionally significant wine industry is examined. The study considers insights of the theory of planned behaviour (TPB) and develops a theoretical framework, which proposes various emerging theoretical dimensions, including proactiveness, support-reliance and resourcefulness.Design/methodology/approachWinery owners–managers were contacted and invited to partake in the study completing an online questionnaire. Overall, 167 useable responses were collected.FindingsWhile facing the loss of vital income through decreasing demand and exports, participants resort to exploiting various initiatives, including “reinventing” their firms. Their observations also recognise the vital supporting role of various key stakeholders, first and foremost family members, as well as clients and staff. Concerning how owners-managers envision managing their firm post-COVID-19, two predominant groups are identified, one strongly favouring modern-day alternatives, and the second committing to the firm's traditional business model. Overall, the different predictors of the TPB, namely attitude, subjective norms and perceived behavioural control emerged.Originality/valueThis study is one of the first that empirically analyses micro and small firms in a socioeconomically and traditionally significant industry during an unprecedented event. In addition, the proposed theoretical framework provides a roadmap and guide to examine, understand and assimilate the entrepreneurial journey through a devastating event.

scholarly journals Political connections: a threat to auditor independence?

2015 ◽  
Vol 5 (2) ◽  
pp. 222-246 ◽  
Author(s):  
Effiezal Aswadi Abdul Wahab ◽  
Mazlina Mat Zain ◽  
Rashidah Abdul Rahman
Keyword(s):  
Design Methodology ◽  
Institutional Environment ◽  
Audit Fees ◽  
Auditor Independence ◽  
Political Connections ◽  
Panel Regression ◽  
Data Set ◽  
Content Type ◽  
The Relationship

Purpose – The purpose of this paper is to examine whether political connections further impair auditor independence by investigating the relationship between non-audit fees and audit fees and as to whether political connections moderate such relationship. Design/methodology/approach – This study employs panel regression analysis. The panel data set consists of 379 firm-year observations for three years from year 2001 to 2003. Findings – Based on 379 firm-year observations for the period of 2001-2003, grounded on two proxies of political connections namely politically connected firms and the proportion of Bumiputras directors, the authors find a positive and significant relationship between non-audit fees and audit fees, and the relationship becomes weaker, only for Bumiputra-dominated firms connected firms. Originality/value – This study contributes to the extant literature by examining the role of political connections in the context of auditor independence. In addition, this study is conducted in Malaysia, which provides a unique institutional environment with the existence of political connections that is built on ethnic grounds.

scholarly journals Exploring the scalability process of social innovation

2019 ◽  
Vol 16 (3) ◽  
pp. 218-234 ◽  
Author(s):  
Larissa Medianeira Bolzan ◽  
Claudia Cristina Bitencourt ◽  
Bibiana Volkmer Martins
Keyword(s):  
Impact Factor ◽  
Research Agenda ◽  
Design Methodology ◽  
Social Innovation ◽  
Financial Sustainability ◽  
Content Type ◽  
The Social ◽  
The Usa ◽  
The Subject

Purpose Social innovation is a recent theme, and the practices related to this area are characterized by punctual actions and projects restricted by time and space that make it difficult to develop strategies that can be sustained in this field. Therefore, one point that deserves to be highlighted in studies on social innovation is a matter of scalability. This paper aims to deal with a bibliometry whose objective was to map the existing studies about scalability of social innovation carried out in the Capes and EBSCOHost portals. Design/methodology/approach This paper deals with a bibliometry. The topic researched in this bibliometry is scalability of social innovation. The databases chosen for this research were Portal Periódico Capes and EBSCOHost because they are the leading providers of search databases. Findings A total of 42 papers were considered, distributed between 2002 and 2017. The analysis criteria for the study were origin (composed by year, author, country of origin, periodical and impact factor), focus of the investigations, justification, method and main techniques of research, contributions and theoretical advances and challenges and paths. Originality/value Among the main results found, one of them is that scalability is a topic that began to be researched recently, so that the USA and Brazil lead the research. Most of the studies focused on the scalability process and justified the importance of studies on the subject as a way to explore the potential of expanding the social impacts of a social innovation. Several studies have emphasized the role of networks as being quite positive for the scalability process and have been concerned with identifying factors that contribute to the scalability process. The challenge that most stood out among the papers was the financial sustainability of a social innovation. At the end, a research agenda was proposed.

scholarly journals The role of marketing in today's enterprises

2014 ◽  
Vol 25 (2) ◽  
pp. 171-194 ◽  
Author(s):  
Jochen Wirtz ◽  
Sven Tuzovic ◽  
Volker G. Kuppelwieser
Keyword(s):  
Firm Performance ◽  
Market Orientation ◽  
Design Methodology ◽  
Low Cost ◽  
Structural Models ◽  
The West ◽  
Marketing Department ◽  
Content Type ◽  
The Usa

Purpose – The purpose of this paper is to explore the role of marketing in today's enterprises and examines the antecedents of the marketing department's influence and its relationship with market orientation and firm performance. Design/methodology/approach – Data were collected from the West (i.e. the USA and Europe) and the East (i.e. Asia). Partial least squares (PLS) was used to estimate structural models. Findings – The findings support the idea that a strong and influential marketing department contributes positively to firm performance. This finding holds for Western and Asian, and for small/medium and large firms alike. Second, the marketing department's influence in a firm depends more on its responsibilities and resources, and less on internal contingency factors (i.e. a firm's competitive strategy or institutional attributes). Third, a marketing department's influence in the West affects firm performance both directly and indirectly (via market orientation). In contrast, this relationship is fully mediated among Eastern firms. Fourth, low-cost strategies enhance the influence of a firm's marketing department in the East, but not in the West. Research limitations/implications – The paper assumes explicitly that a marketing department's influence is an antecedent of its market orientation. While the paper finds support for this link, the paper did not test for dual causality between the constructs. Originality/value – Countering the frequent claim in anecdotal and journalistic work that the role of the marketing department diminishes, the findings show that across different geographic regions and firm sizes, strong marketing departments improve firm performance (especially in the marketing-savvy West), and that they should continue to play an important role in firms.

The role of formal industry clusters in the internationalization of new ventures

2014 ◽  
Vol 26 (5) ◽  
pp. 449-470 ◽  
Author(s):  
Ana Colovic ◽  
Olivier Lamotte
Keyword(s):  
Design Methodology ◽  
New Ventures ◽  
Global Markets ◽  
International New Ventures ◽  
Internationalization Process ◽  
Structured Interviews ◽  
Cluster Management ◽  
Intermediary Organization ◽  
Content Type

Purpose – The purpose of this study is to investigate the internationalization of international new ventures (INVs). Specifically, this research explores the ways in which a formal cluster can facilitate the internationalization process of these firms. Design/methodology/approach – The authors studied how four INVs benefitted from the actions of two clusters in France – Systematic and Mov’eo – as they internationalized. They conducted semi-structured interviews with the CEOs and other representatives of the INVs and with the members of the cluster management teams. Findings – The findings indicate that clusters can facilitate the internationalization of INVs by providing resources, networking opportunities and legitimacy to help them reach global markets and by increasing the speed of internationalization. Originality/value – By analyzing the specific role that a formal cluster plays in the internationalization of INVs, this research contributes to the literature examining the link between location and INV internationalization. The authors argue that the cluster’s role can be considered as that of an intermediary organization helping INVs to expand globally.

The politics of margin squeeze in telecommunications: diverging paths of the US and EU

Info ◽  
2015 ◽  
Vol 17 (2) ◽  
pp. 1-15 ◽  
Author(s):  
Fuat Oğuz
Keyword(s):  
Competition Policy ◽  
Design Methodology ◽  
Case Law ◽  
Extensive Literature ◽  
The European Union ◽  
Content Type ◽  
Socialist Calculation Debate ◽  
The Us ◽  
The Usa

Purpose – This paper aims to study the historical origins of margin squeeze cases in the USA and Europe. Design/methodology/approach – The author compares and contrasts major margin squeeze investigations in the USA and the European Union (EU) in terms of the role of efficiency and fairness and shows their roots in the socialist calculation debate of the 1940s. Findings – It was found that the USA and EU diverge in their approaches towards margin squeeze claims. While the USA case law focuses more on efficiency, the European Commission makes decisions based more on fairness and “protection of rivals”. This shows that political and ideological preferences influence legal decision-making. Research limitations/implications – The paper is limited to major cases in telecommunications. It leaves aside cases in other areas. Thus, the author cautions that the generalization of the findings of the paper to all margin squeeze cases, or competition policy in general, may be difficult. Originality/value – While there is extensive literature on margin squeeze cases in the USA and EU, there is little work on the historical and ideological connections. The paper contributes to the literature by drawing attention to political influences over technical decisions.

Sheepskin effects in Japan

2005 ◽  
Vol 26 (4) ◽  
pp. 320-335 ◽  
Author(s):  
Thomas K. Bauer ◽  
Patrick J. Dross ◽  
John P. Haisken‐DeNew
Keyword(s):  
Labor Market ◽  
Small Firms ◽  
Admission Policy ◽  
Large Firms ◽  
Data Set ◽  
Capital Theory ◽  
Content Type ◽  
The Usa ◽  
Recruitment System

PurposeThe purpose of this paper is to examine the role of sheepskin effects in the return to education in Japan.Design/methodology/approachThe paper provides a short description of the Japanese schooling and recruitment system. It then describes the data set and the empirical approach. Estimation results are presented for the various specifications. The baseline specification closely follows existing studies for the USA to facilitate comparability across the two countries. The paper further investigates whether there are significant firm‐size differences in the estimated sheepskin effects and whether sheepskin effects disappear with increasing job tenure.FindingsThe estimation results indicate that sheepskin effects explain about 50 percent of the total returns to schooling. The paper further finds that education as a signal is only important for workers in small firms with the size of these effects being similar to comparable estimates for the USA. Finally, the estimated degree effects decrease with firm tenure, in particular for small firms. These results could be explained by the particular recruitment system of large firms in Japan, which makes university diploma as a screening device unimportant for large firms and the admission policy of Japanese universities.Originality/valueBy investigating the role of sheepskin effects in a labor market that differs substantially from the labor market in the USA, the paper provides additional insights to the human capital theory‐screening hypothesis debate.

Local retailers’ perspectives on social responsibility

2017 ◽  
Vol 45 (2) ◽  
pp. 211-226 ◽  
Author(s):  
Danielle Marie Razalan ◽  
Marianne C. Bickle ◽  
Joohyung Park ◽  
Deborah Brosdahl
Keyword(s):  
Social Responsibility ◽  
Small Businesses ◽  
Research Method ◽  
Design Methodology ◽  
Local Community ◽  
Social Benefits ◽  
Content Type ◽  
Local Organizations ◽  
The Usa ◽  
Good Reputation

Purpose The purpose of this paper is to identify the types of social responsibility actions that small local retailers implement in their local community and to explore their underlying motivations and perceived benefits. Design/methodology/approach A qualitative research method is used to explore small local retailers’ social responsibility practices and underlying motivations. Owners/managers of small apparel retailers in the USA were interviewed and their responses transcribed and analyzed. Findings Findings highlight that local retailers are active in giving back to their community using various means from monetary donations to promotion of community events. Such contributions to their local community are largely driven by their affection for the community, and the motivation is to maintain a good reputation. It was also found that episodes of giving were also triggered externally by customers, local organizations, and local events. Small retailers’ social responsibility contributions to the community are typically not undertaken in an effort to stimulate sales, profits and/or customer traffic. Rather, local retailers find their experiences enjoyable and their contributions build a sense of connection to the community. These retailers enjoy an extra sense of enrichment and perceive social benefits accrued from actively engaging in social responsibility within the community. Originality/value Much has been written about social responsibility from a manufacturing and large retailer viewpoint, but there is a dearth of information on small local retailers. This study explores the understanding of small businesses’ social responsibility practices from a local retail perspective and provides valuable insights about retailers approach to social responsibility in relation to their local community.

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