Exit strategy decision by venture capital firms in India using fuzzy AHP

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kiran Mehta ◽  
Renuka Sharma ◽  
Vishal Vyas ◽  
Jogeshwarpree Singh Kuckreja
Keyword(s):  
Venture Capital ◽  
Fuzzy Ahp ◽  
Survey Instrument ◽  
Primary Data ◽  
Exit Strategy ◽  
Managerial Implication ◽  
Content Type ◽  
Factors Affecting ◽  
Venture Capital Firms ◽  
Start Ups

Purpose The existing literature on venture capitalists’ (VCs’) exits provides insufficient evidence regarding factors affecting the exit decision. This study aims to identify these factors and examine how VC firms do ranking or prioritize these factors. Design/methodology/approach The study is based on primary data. The qualitative analysis was done to develop the survey instrument. Fuzzy analytical hierarchical process, which is a popular method of multi-criteria decision modeling, is used to identify or rank the determinants of exit strategy by venture capital firms in India. Findings Broadly, eight determinants of exit strategy are ranked by VCs. A total of 33 statements describe these eight determinants. The results are analyzed on the basis of four measures of VCs’ profile, i.e. age of VC firm, number of start-ups in portfolios, type of investment and amount of investment. Research limitations/implications The survey instrument needs to be validated with a larger sample size and other financial backers than VCs. Practical implications The study has direct managerial implication for VC firms as it provides useful information regarding the determinants of exit strategy by VC firms in India. These findings can provide necessary information to other financial backers too, viz., angel investors, banks, non-banking financial institutions and other individual and syndicated set-ups providing funding to start-ups. Originality/value The current research is unique as no prior study has explored the determinants of VCs exit strategy and prioritizing these determinants.

Factors affecting employee performance of PT.Kiyokuni Indonesia

2017 ◽  
Vol 59 (4) ◽  
pp. 602-614 ◽  
Author(s):  
Suharno Pawirosumarto ◽  
Purwanto Katijan Sarjana ◽  
Muzaffar Muchtar
Keyword(s):  
Leadership Style ◽  
Significant Influence ◽  
Employee Performance ◽  
Linear Regression Analysis ◽  
Research Work ◽  
Employee Motivation ◽  
Multiple Linear Regression Analysis ◽  
Primary Data ◽  
Content Type ◽  
Factors Affecting

PurposeThis study aims to examine, analyze and explain the influence of leadership style, motivation and discipline to employee performance simultaneously and partially at PT. Kiyokuni Indonesia. Design/methodology/approachThe primary data used in this study come from questionnaire on respondents’ motivation, discipline, leadership style and employee performance. From 451 people as the population, 82 respondents who met the criteria as a sample were chosen by using the Slovin formula. The analytical method used is multiple linear regression analysis using SPSS Version 22. FindingsThe results of this study indicate that there is a positive and significant influence simultaneously between leadership style, employee motivation and discipline on employee performance. The results also show that there is a positive and significant influence partially between leadership style, employee motivation and discipline on employee performance. Discipline is the variable of the most powerful influence on employee performance, so it needs special attention. Originality/valueThe respondents of this research work for a company which generates products through the work of hands (manual work) and aims to promote the products in the international market.

Technology business incubators in India: what determines their R&D contributions to the national economy?

2020 ◽  
Vol 12 (4) ◽  
pp. 385-408
Author(s):  
Bala Subrahmanya Mungila Hillemane
Keyword(s):  
National Economy ◽  
Developing Economies ◽  
Selection Process ◽  
New Products ◽  
Patent Application ◽  
Primary Data ◽  
Business Incubators ◽  
Content Type ◽  
Start Ups ◽  
Practical Implications

Purpose The purpose of this study is to explore how do the characteristics of technology business incubators (TBIs), their chief executive officers, selection process and incubation process influence their research and development (R&D) contributions to the national economy. Design/methodology/approach These research questions are probed based on primary data gathered from 65 TBIs located in Bangalore, Chennai and Hyderabad, 3 of the leading start-up hubs of India comprising 9 accelerators, 31 incubators and 25 co-working spaces. Stepwise (backward elimination) regression method has been applied for six regression models for the analysis of research objectives. Findings Incubators more than accelerators and co-working spaces have incurred R&D investments for infrastructure development and hired exclusive R&D personnel. External networks and size of incubators in terms of number of incubatees are decisive for R&D investments and new products/services. TBIs accounted for a negligible share of patents relative to the number of new products/services generated in these TBIs, thereby indicating “low level of novelty/innovativeness” of new products/services. However, both new products/services and patent applications are crucial for revenue generation, implying that the generated new products/services are able to penetrate the market and patent application submission can act as a “signal” to the market. Research limitations/implications The overall research findings portend that there is scope and potential for an increasing R&D contribution to emerge from the TBIs along with their incubated start-ups, to supplement the national R&D efforts in India in the future. The emphasis, of course, has to be more on strengthening the innovation ecosystem through TBIs by means of industry–institute partnerships. Practical implications This study’s practical implications refer to the need to promote TBIs as a means of strengthening regional innovation systems in developing economies. Social implications TBIs can be a means of nurturing tech start-ups for generating employment and income in regional economies. Originality/value This is a first of its kind study with reference to an emerging economy exploring to understand the extent of R&D contributions emerging from TBIs, which have been promoted on an increasing scale across the country as a means of nurturing technology start-ups.

Funding for start-ups in India: what shakes it?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Saibal Ghosh
Keyword(s):  
Fixed Effects ◽  
Equity Financing ◽  
Data Set ◽  
Content Type ◽  
Factors Affecting ◽  
Indian Context ◽  
Key Factor ◽  
Salutary Effect ◽  
Fixed Effects Regression ◽  
Start Ups

Purpose Using a novel monthly data set, this study aims to examine the factors affecting the funding of Indian start-ups. Design/methodology/approach Given the panel structure of the data, the fixed effects regression technique has been used. Findings The findings reveal that years of operation is a key factor. Amongst others, angel investors and equity financing are the key drivers of startup financing. Government policy does not appear to have gained adequate traction, although the improvement in the business reform action by state governments has begun to exert a salutary effect. Practical implications From a policy standpoint, the study provides insights into what policies and practices can be exploited to streamline the funding bottlenecks affecting startups in the Indian context. Originality/value Notwithstanding being a country with a significant presence in the startup space, there are admittedly limited studies, which examine this issue for India. Viewed from this standpoint to the best of the knowledge, the analysis is one of the early studies to shed light on the factors driving the funding of startups in the Indian context.

Blockchain will lead next global tech revolution

2016 ◽  
Keyword(s):  
Venture Capital ◽  
Transaction Costs ◽  
Real Life ◽  
Financial Industry ◽  
Content Type ◽  
Blockchain Technology ◽  
Database Technology ◽  
Start Ups

Subject Blockchain technology in finance. Significance Blockchain is a cryptographically enabled database technology that can make many transactions free of counterparty risks and nearly instantaneous, eliminating transaction costs. It was created and tested with bitcoin, a cryptocurrency. The financial industry is interested in it, given its scale and need for reliability and speed. Impacts Blockchain use could expand beyond cryptocurrencies, with the financial industry leading it towards real-life applications. As the blockchain technology could be disruptive, banks are attempting to influence and direct its development early on. Corporate strategists will be the predominant investors in blockchain start-ups rather than traditional venture capital.

Entrepreneur's profile: a taxonomy of attribu tes and motivations of university students

2008 ◽  
Vol 15 (2) ◽  
pp. 405-418 ◽  
Author(s):  
Mário Raposo ◽  
Arminda do Paço ◽  
João Ferreira
Keyword(s):  
Educational Programme ◽  
Personal Attributes ◽  
Primary Data ◽  
Multivariate Statistical ◽  
Content Type ◽  
Start Up ◽  
Potential Entrepreneur ◽  
Research Findings ◽  
The University ◽  
Start Ups

PurposeThis paper aims to identify the profile of the potential entrepreneur student in what concerns the personal attributes and motivations for start‐ups' creation.Design/methodology/approachA review of literature related to the entrepreneur profile is made in order to justify the importance of the theme. Through some studies it was possible to identify a diversity of works and authors that present some aspects which contribute to the characterisation of entrepreneur individuals. The present research uses primary data obtained by means of a questionnaire, involving a sample of students, which were currently engaged in a graduation course at the University of Beira Interior. The questionnaire was administrated by interviews conducted in the classrooms of the University's faculties. The collected data were submitted to a multivariate statistical analysis.FindingsResearch findings include the existence of a typology of two distinct groups of students, respectively designated by “The accommodated independents” and “The confidents”, according to the most outstanding characteristics related with several attributes and motivations presented by each of them.Practical implicationsThe identification of the entrepreneurs' characteristics and the knowledge of the potential business creator students' profile may be important for the development of an adequate educational programme directed to the entrepreneurship education and start‐up processes.Originality/valueThe paper identifies some important characteristics that are common in entrepreneurs. The findings could be used both to promote entrepreneurship in our education systems and to identify the best practices.

Fintech – stick or carrot – in innovating and transforming a financial ecosystem: toward a typology of comfort zoning

foresight ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Romeo V. Turcan ◽  
Bernadett Deák
Keyword(s):  
Grounded Theory ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
Primary Data ◽  
Content Type ◽  
News Reports ◽  
Running Records ◽  
Executive Officers ◽  
Start Ups ◽  
The Relationship

Purpose Fintech is an “untilled field” in which the relation between Fintechs and incumbents is yet to be understood. This paper aims to explore this relationship and advance its theoretical and practical understanding. It further contributes toward Fintech paradigm and research domain emergence that both to date remain yet elusive. Design/methodology/approach This paper adopted a multiple-case study strategy for the purpose of theory building. Seven players from the Fintech ecosystem in Quebec (Canada) were selected, representing financial institutions, Fintech start-ups and Quebec’s financial cluster. Primary data was collected via in-depth interviews with ten respondents at the level of vice presidents, Managers, directors, chief executive officers and founders, and unobtrusive data – in the form of running records, mass-media news reports, presentations and proceedings from Fintech events. Data analysis was informed by grounded theory methods and techniques. Findings Grounded in data, this paper puts forward a typology of “comfort zoning” and its four types: nimbling, imperiling, cocooning and discomforting. Research limitations/implications Following the tenets of the grounded theory, four criteria are used to evaluate the emergent theory: fit, relevance, workability and modifiability. It is expected the interpretation and adoption of comfort zoning typology will be challenged, modified and enhanced by Fintech researchers and practitioners. Practical implications The comfort zoning typology would aid practitioners in their efforts to define and refine the domain of Fintech, problematize it and eventually enhance the relationship between Fintechs. Originality/value This paper fulfills an identified need to explore the relationship between Fintechs and incumbents and advance the theoretical and practical understanding of this relationship.

Entrepreneurial ecosystem for tech start-ups in Bangalore: an exploration of structure and gap

2020 ◽  
Vol 27 (7) ◽  
pp. 1167-1185
Author(s):  
Bala Subrahmanya Mungila Hillemane
Keyword(s):  
Gap Analysis ◽  
Primary Data ◽  
Ecosystem Structure ◽  
Entrepreneurial Ecosystem ◽  
Component Level ◽  
Policy Makers ◽  
Content Type ◽  
Start Up ◽  
Start Ups

PurposeBangalore has gained international recognition as a technology start-up hub for its vibrant entrepreneurial ecosystem. Against this backdrop, this paper attempts to explore the structure and gap that exist with respect to the entrepreneurial ecosystem for tech start-ups in Bangalore.Design/methodology/approachA Delphi technique based four stage interaction with the experts/stakeholders belonging to different components of the entrepreneurial ecosystem (as identified from the literature) in the context of Bangalore is conducted, to gather primary data. This enabled us to define the structure of entrepreneurial ecosystem and analyse the gap that exists between an ideal ecosystem feasible in the Indian context and that one that prevailed in Bangalore.FindingsThe prevailing entrepreneurial ecosystem for tech start-ups in Bangalore is significantly different (lower) relative to an ideal ecosystem feasible in the Indian economic environment, as prescribed by the Delphi experts, both at the aggregate level and at an individual component level. The step-wise (backward) logistic regression analysis revealed that Bangalore ecosystem is primarily lacking in terms of one of the Triple Helices, namely, role of education and research institutions, and two of the five indispensable components, namely, market maturity and mentorship.Research limitations/implicationsIt is essential to strengthen and promote the Triple Helix base and the five indispensable components in an entrepreneurial ecosystem, to accelerate the emergence and growth of tech start-ups.Practical implicationsIt brings out the nature of entrepreneurial ecosystem structure and the gap between what can be considered an ideal ecosystem and what prevails in Bangalore currently.Originality/valueThis is a primary data based study, which has value for regional policy makers in strategizing to promote Bangalore ecosystem, and for researchers in undertaking “ecosystem gap analysis”.

Foreign venture capital firms and internationalization of ventures

2020 ◽  
Vol 28 (3) ◽  
pp. 381-399 ◽  
Author(s):  
Heejin Woo
Keyword(s):  
Venture Capital ◽  
Design Methodology ◽  
Linear Models ◽  
Strategic Decisions ◽  
Foreign Markets ◽  
Content Type ◽  
The Us ◽  
Venture Capital Firms ◽  
Logistic Regressions

Purpose The purpose of this study is to examine how foreign venture capital firms affect the internationalization of investee ventures and their performance. The author argues that, as influential stakeholders, foreign venture capital (VC) firms engage in strategic decisions of investee ventures and may positively contribute to ventures’ business in foreign markets. Design/methodology/approach The study examines 551 VC-backed ventures that went public between 2000 and 2014 in the US. Logistic regressions and generalized linear models are used to test hypotheses, and the two-stage approach is used to address a potential endogeneity issue. Findings In the empirical results, the author finds that foreign VC investment is positively associated with the internationalization of ventures in terms of both the likelihood of internationalization and foreign sales intensity. In addition, the author finds that internationalization and foreign sales intensity are positively associated with firm performance when a venture is backed by a foreign VC firm. Originality/value This study makes important theoretical and empirical contributions to the international entrepreneurship literature by highlighting the role of foreign VC investors on internationalization of ventures.

scholarly journals Factors affecting the employability of private university graduates: an exploratory study on Bangladeshi employers

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Md Sajjad Hosain ◽  
Mohitul Ameen Ahmed Mustafi ◽  
Tania Parvin
Keyword(s):  
Structural Equation ◽  
Private University ◽  
Primary Data ◽  
Equation Modeling ◽  
University Graduates ◽  
Problem Solving Skills ◽  
Content Type ◽  
Factors Affecting ◽  
Independent Variables ◽  
Hiring Managers

Purpose This paper aims to identify the factors that can affect the overall graduate employability (OGE) of the private university graduates of Bangladesh. The authors carefully selected six such employable factors after searching the existing literature. Those six factors: academic performance (AP), technical skills (TS), communication skills (CS), personality (PE), leadership & motivational skills (LMS); and teamwork and problem solving skills (TPSS), had been considered as the independent variables while OGE had been considered as the single dependent variable. Design/methodology/approach The authors collected the primary data from a valid sample of 360 employers through a structured questionnaire working as the hiring managers. Those respondents were selected on a random basis. The authors used exploratory factor analysis to validate the items under those independent variables and structural equation modeling with AMOS (24) to test the hypothesized relationship between each independent variable and the dependent one. Findings After proper statistical analysis, the results revealed that AP, PE, CS and TPSS can positively and significantly influence the OGE of Bangladeshi graduates while LMS and TS have positive but insignificant influence over OGE. Research limitations/implications Based on the findings, this paper can help scholars in further investigating the employability factors. Practical implications This explorative study will guide the fresh graduates in developing their required employability skills while assisting the employers in recruiting suitable candidates with the required skills and performance. Originality/value This is one of the few attempts that focused on the employability factors of private university graduates in Bangladesh. The authors are well confident that this empirical paper can shed some light on the fresh graduates’ employability and conducting further investigations on it.

scholarly journals Determinants of adaptation to climate variability among farming households in Tyhume Valley communities, Eastern Cape province, South Africa

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Olona Mtintsilana ◽  
Babatope Ebenezer Akinyemi ◽  
Leocadia Zhou
Keyword(s):  
South Africa ◽  
Climate Variability ◽  
Crop Production ◽  
Adaptation Strategies ◽  
The Body ◽  
Primary Data ◽  
Content Type ◽  
Factors Affecting ◽  
The Impact ◽  
Farming Households

Purpose This paper aims to determine factors affecting adaptation to climate variability on crop production among farming households in Tyhume Valley. Design/methodology/approach This study conducted an empirical analysis of the impact of adaptation on crop yield of farming households and estimated the factors affecting adaptation to climate variability on farming households. The analysis used primary data from 205 farming households practicing crop production in Tyhume Valley communities. Findings Based on binary logit results, factors affecting rural farming households’ adaptation to climate variability are gender, age, heatwave, employment status, strong high wind occasional experience and cell phone. The adaptation measures adopted by the farming households in the study area include irrigation (94.8%), crop rotation (66%), changing crop variety (7.4%) and other methods of adaptation were found to be (1.3%). The other methods of adaptation used included the use of ash to kill (intuku) mole and using dirty water from washing dishes and clothes when irrigating to kill parasites on crops. Originality/value This research paper will be an addition to the body of knowledge on adaptation strategies to climate variability in South Africa, especially at the rural farming household level. This study may assist the rural communities in decision-making when dealing with the challenges of climate variability on their crop production, thereby increasing their crop production. The information gathered in this study might assist policymakers in revising the existing policies. This study will also help rural farming households to practice appropriate adaptation strategies.

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