Factors influencing the fund raising process for innovative new ventures: an empirical study

2016 ◽  
Vol 23 (2) ◽  
pp. 363-378 ◽  
Author(s):  
Marco Talaia ◽  
Alessia Pisoni ◽  
Alberto Onetti
Keyword(s):  
Empirical Study ◽  
Causal Relation ◽  
Early Stage ◽  
New Ventures ◽  
Chief Executive ◽  
Fund Raising ◽  
Tobit Regression ◽  
Data Set ◽  
Content Type ◽  
Factors Affecting

Purpose – The purpose of this paper is to identify the factors that influence the fund raising ability of innovative new ventures/startups. Design/methodology/approach – The authors investigate a data set composed of 108 Italian innovative new ventures. Specifically, the authors run a Tobit regression model linking the amount of equity raised by the company to the human capital of the company. The authors focussed the analysis on the Chief Executive Officer (CEO) of the new company, who usually is a founder and, in the early stages, the most charismatic figure. Findings – The analysis shows a significant relationship between the ability of a startup to raise funds and the level of education of the CEO. The findings suggest that this causal relation is even stronger as the CEO holds an MBA. Research limitations/implications – The results of our empirical study provide further insights about the characteristics of the CEO that mostly impact on fund raising ability of the new ventures. The results are limited to startups founded by Italian entrepreneurs. A cross-country comparison will represent the natural prosecution of our research. Practical implications – The study provides important implications for researchers and practitioners who are interested in understanding the fundamentals of the fund raising process for innovative startups. Moreover, these findings may also be helpful for policy makers in better understanding the factors potentially influencing the Italian startup ecosystem. Originality/value – The paper sheds light on the factors affecting the fund raising process of innovative new ventures in the early stage of the company’s life cycle. Specifically, it is one of the few study focussing on the profile/background of the CEO in early-stage companies.

SenseHere: a born global start‐up based in the UAE

2011 ◽  
Vol 1 (4) ◽  
pp. 1-7
Author(s):  
Tim Rogmans
Keyword(s):  
United Arab Emirates ◽  
New Ventures ◽  
High Technology ◽  
Chief Executive ◽  
Subject Area ◽  
Fund Raising ◽  
Battery Life ◽  
Born Global ◽  
Content Type ◽  
Start Up

TitleSenseHere: a born global start‐up based in the UAE.Subject areaManagement, strategy, entrepreneurship.Study level/applicabilityMBA, executive education.Case overviewThe case deals with the challenges of fundraising and location decision making for a high technology start up company based in the United Arab Emirates. Tan Rasab is a Chief Executive and co‐founder of Sensehere, a high technology start up company involved in the design and development of semiconductors for wireless sensors. The company has developed a unique technology that allows sensors to dramatically reduce energy consumption and thereby improve battery life of sensors.The company is currently based in the UAE, where it finds the environment highly supportive overall but challenging from the point of view of fund raising. On the other hand in China the company is meeting significant investor interest and several partnerships have been concluded. Despite the advantages offered by the UAE environment, the company is considering moving some or all of its operations to China.Expected learning outcomes •Familiarise students with the challenges of fundraising for new ventures. •Understand the implications of technological breakthroughs in different application areas. •Develop an understanding for the different considerations to be made when choosing a location for business functions.Supplementary materialsTeaching notes.

Quality of life in breast cancer sufferers

2016 ◽  
Vol 29 (7) ◽  
pp. 721-732 ◽  
Author(s):  
Ahmed Essmat Shouman ◽  
Nahla Fawzy Abou El Ezz ◽  
Nivine Gado ◽  
Amal Mahmoud Ibrahim Goda
Keyword(s):  
Breast Cancer ◽  
Quality Of Life ◽  
Family Income ◽  
Early Stage ◽  
Functional Domain ◽  
Related Factors ◽  
Specific Patient ◽  
Content Type ◽  
Factors Affecting

Purpose – The purpose of this paper is to measure health-related quality of life (QOL) among patients with early stage cancer breast under curative treatment at department of oncology and nuclear medicine at Ain Shams University Hospitals. Identify factors affecting QOL among these patients. Design/methodology/approach – A cross-sectional study measured QOL among early stage female breast cancer (BC) patients and determined the main factors affecting their QOL. Three interviewer administered questionnaires were used. Findings – The physical domain mostly affected in BC patients and the functional domain least. Socio-demographic factors that significantly affected BC patients QOL scores were patient age, education, having children and family income. Specific patient characteristics include caregiver presence – a factor that affected different QOL scores. Age at diagnosis, affection in the side of the predominant hand, post-operative chemotherapy and difficulty in obtaining the medication were the disease-related factors that affected QOL scores. Originality/value – The final model predicting QOL for early stage female BC patients included age, education and difficulty in obtaining the medication as determinants for total QOL score. Carer presence was the specific patient characteristic that affected different QOL scores.

Increasing revenue and attendance in Canadian Baptist churches

2015 ◽  
Vol 42 (12) ◽  
pp. 1071-1089
Author(s):  
Alan Chan ◽  
Bruce G. Fawcett ◽  
Shu-Kam Lee
Keyword(s):  
Church Health ◽  
Eastern Canada ◽  
Data Set ◽  
Content Type ◽  
Factors Affecting ◽  
Scarce Resources ◽  
Baptist Churches ◽  
And Performance ◽  
The Impact ◽  
Simulation Exercises

Purpose – Church giving and attendance are two important indicators of church health and performance. In the literature, they are usually understood to be simultaneously determined. The purpose of this paper is to estimate if there a sustainable church congregation size using Wintrobe’s (1998) dictatorship model. The authors want to examine the impact of youth and adult ministry as well. Design/methodology/approach – Using the data collected from among Canadian Baptist churches in Eastern Canada, this study investigates the factors affecting the level of the two indicators by the panel-instrumental variable technique. Applying Wintrobe’s (1998) political economy model on dictatorship, the equilibrium level of worship attendance and giving is predicted. Findings – Through various simulation exercises, the actual church congregation sizes is approximately 50 percent of the predicted value, implying inefficiency and misallocation of church resources. The paper concludes with insights on effective ways church leaders can allocate scarce resources to promote growth within churches. Originality/value – The authors are the only researchers getting the permission from the Atlantic Canada Baptist Convention to use their mega data set on church giving and congregation sizes as per the authors’ knowledge. The authors are also applying a theoretical model on dictatorship to religious/not for profits organizations.

Antecedents of growth-oriented entrepreneurship before and during the Greek economic crisis

2017 ◽  
Vol 24 (3) ◽  
pp. 528-544 ◽  
Author(s):  
Ioannis Giotopoulos ◽  
Alexandra Kontolaimou ◽  
Aggelos Tsakanikas
Keyword(s):  
Work Experience ◽  
Early Stage ◽  
New Ventures ◽  
High Growth ◽  
Content Type ◽  
Crisis Period ◽  
Individual Level ◽  
Level Data ◽  
The Social ◽  
Before And After

Purpose The purpose of this paper is to explore potential drivers of high-growth intentions of early-stage entrepreneurs in Greece before and after the onset of the financial crisis of 2008. Design/methodology/approach To this end, the authors use individual-level data retrieved from Global Entrepreneurship Monitor annual surveys (2003-2015). Findings The results show that high-growth intentions of Greek entrepreneurs are driven by different factors in the crisis compared to the non-crisis period. Male entrepreneurs and entrepreneurs with significant work experience seem to be more likely to be engaged in growth-oriented new ventures during the crisis period. The same appears to hold for entrepreneurs who are motivated by an opportunity and also perceive future business opportunities in adverse economic conditions. On the other hand, the educational level and the social contacts of founders with other entrepreneurs are found to drive ambitious Greek entrepreneurship in the years before the crisis, while they were insignificant after the crisis outbreak. Originality/value Based on the concept of ambitious entrepreneurship, this study contributes to the literature by investigating the determinants of entrepreneurial high-growth expectations in the Greek context emphasizing the crisis period in comparison to the pre-crisis years.

Determining the factors affecting the technical efficiency scores of public hospitals using different regression methods

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bayram Şahin ◽  
Gülnur İlgün ◽  
Seda Sönmez
Keyword(s):  
Public Hospitals ◽  
Regression Analyses ◽  
Tobit Regression ◽  
Control Variables ◽  
Content Type ◽  
Factors Affecting ◽  
Provincial Level ◽  
Regression Methods ◽  
Input And Output ◽  
Dea Method

PurposeThis study aims to identify the efficiency scores of hospitals affiliated to the Ministry of Health in Turkey between the years of 2010–2015 at provincial level and to reveal the factors that affect the efficiency scores.Design/methodology/approachThe two-stage data envelopment analysis (DEA) method was used to achieve the study purpose. In the first stage, DEA method based on input-oriented Charnes–Cooper–Rhodes (CCR) model was performed to calculate the efficiency scores of public hospitals at the provincial level between 2010 and 2015, and in the second stage, Tobit regression and linear regression analyses were used to identify whether the efficiency scores of provinces are affected by the input, output and control variables.FindingsUpon the analysis, the average efficiency scores of 81 provinces by years were found to vary between 0.79 and 0.89. According to both regression analyses, all of the input and output variables were found to have significant effects on the efficiency scores of provinces while only the population of province among the control variables was identified as the factor with an effect on the efficiency scores of provinces (p < 0.05).Practical implicationsThe results of this study are thought to guide health policymakers and managers in terms of both determining efficient and inefficient hospitals at the provincial level and revealing which variables should be taken into account in order to increase efficiency.Originality/valueThe study differs from previous studies on the efficiency of hospitals. First, although previous studies were generally descriptive studies to determine the efficiency level of hospitals, this study is an analytical study that tries also to show the factors affecting the efficiency of hospitals. In addition, while examining the effect of input and output variables on efficiency scores, control variables were also included in the study.

Online information retrieval behaviour and economics of attention

2015 ◽  
Vol 39 (6) ◽  
pp. 779-794 ◽  
Author(s):  
Mustafa Utku Özmen
Keyword(s):  
Information Retrieval ◽  
Information Provision ◽  
General Information ◽  
Survival Duration ◽  
Online Information ◽  
Data Set ◽  
Content Type ◽  
Factors Affecting ◽  
Quasi Experimental ◽  
Information Providers

Purpose – The purpose of this paper is to analyse users’ attitudes towards online information retrieval and processing. The aim is to identify the characteristics of information that better capture the attention of the users and to provide evidence for the information retrieval behaviour of the users by studying online photo archives as information units. Design/methodology/approach – The paper analyses a unique quasi-experimental data of photo archive access counts collected by the author from an online newspaper. In addition to access counts of each photo in 500 randomly chosen photo galleries, characteristics of the photo galleries are also recorded. Survival (duration) analysis is used in order to analyse the factors affecting the share of the photo gallery viewed by a certain proportion of the initial number of viewers. Findings – The results of the survival analysis indicate that users are impatient in case of longer photo galleries; they lose attention faster and stop viewing earlier when gallery length is uncertain; they are attracted by keywords and initial presentation and they give more credit to specific rather than general information categories. Practical implications – Results of the study offer applicable implications for information providers, especially on the online domain. In order to attract more attention, entities can engage in targeted information provision by taking into account people’s attitude towards information retrieval and processing as presented in this paper. Originality/value – This paper uses a unique data set in a quasi-experimental setting in order to identify the characteristics of online information that users are attracted to.

Early stage network engagement strategies in the network capability development of new ventures

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Helen McGrath ◽  
Thomas O'Toole
Keyword(s):  
Social Network ◽  
Business Strategy ◽  
Early Stage ◽  
New Ventures ◽  
New Venture ◽  
Capability Development ◽  
Content Type ◽  
Study Approach ◽  
Engagement Strategies ◽  
Network Capability

Purpose The purpose of this paper is to identify the early stage network engagement strategies that new ventures use to gain traction in interaction in the development of network capability. Design/methodology/approach Using 24 new ventures in the micro-brewing industry in Ireland, Belgium and the USA as an empirical base, the authors use an inductive case study approach owing to the exploratory nature of the research aim and the lack of prior literature in the area. Findings The findings suggest five early stage network engagement process strategies in network capability development: business-to-business network prospecting; co-branding/co-promoting activities; from maker-mindset to adapting; social media platforming; and recognition and activation of network role. Research limitations/implications The findings are limited to the micro-brewery sector at one point in time, although in multiple country contexts. Analyzing other sectors and taking a temporal view of strategizing, analyzing the sector at another time point, would show how dynamics in engagement change as the actors acquire new experiences from interaction. Practical implications The potential to gain from network resources and the paucity of these resources in new ventures makes early stage engagement strategizing for network capability development an attractive business strategy for new firms. All firms are born within a social network that has economic importance. Identifying the five early stage network engagement strategies can mitigate the challenge for the new venture in moving from the initial social network to collaborating within wider business networks to gain access to resources, technology and customers. Originality/value Strategizing in new venture contexts is a relatively new stream of research for the industrial marketing and purchasing group. This paper adds to the growing body of literature that places interaction, relationships and networks at the heart of strategy making and provides important insights for new ventures, which may lead to earlier and greater success for the firms. The authors respond to calls for increased research addressing capability development in a new venture context and for research to take a more interactive perspective on new venture processes.

scholarly journals The early growth of start-ups: innovation matters. Evidence from Italy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Raffaele Fiorentino ◽  
Sergio Longobardi ◽  
Alessandro Scaletti
Keyword(s):  
Propensity Score ◽  
Propensity Score Matching ◽  
Firm Growth ◽  
Ad Hoc ◽  
Early Stage ◽  
New Ventures ◽  
Objective Measure ◽  
Content Type ◽  
Start Up ◽  
Start Ups

PurposeDespite the relevance of innovation in entrepreneurship literature, empirical research on the innovation-performance relationship in start-ups is underdeveloped and shows controversial results. To bridge this gap, the aim of this paper is to investigate the role of innovativeness on new venture performance in the early stage of the life cycle.Design/methodology/approachRegression modelling and propensity score matching are used to reveal systematic differences in growth between innovative start-ups (ISUPs) and non-innovative start-ups. We use an ad hoc dataset obtained through merging the financial database AIDA with data from administrative sources (Italian Chambers of Commerce and the Italian Ministry for Economic Development).FindingsThe results show that differences in growth can be explained by the different levels of innovativeness in new ventures. Moreover, unlike in prior studies, the innovation inputs matter more than innovation outputs. Indeed, the results support the idea that innovation policies can contribute to maximising the potential of start-ups.Practical implicationsThe findings provide suggestions for policy makers and entrepreneurs to help firms configure ex ante appropriate actions to support the growth of new ventures in the start-up stage.Originality/valueThis study is the first to use the new objective measure of start-up innovation, available from the Italian LD 221 register. Second, different types of innovation are investigated as antecedents of firm growth. Third, we employ propensity score matching, which favours revealing systematic differences in growth between ISUPs and non-innovative start-ups. Fourth, the results of our study are the first to offer evidence on the effectiveness of the new Italian sustaining ISUPs policy.

Minding the gap: the effect of CEO underpayment on firm-specific knowledge

2020 ◽  
Vol 24 (9) ◽  
pp. 2107-2125
Author(s):  
Linlin Wang ◽  
Zhaofang Chu ◽  
Wan Jiang ◽  
Yifan Xu
Keyword(s):  
Ceo Compensation ◽  
Equity Theory ◽  
Chief Executive ◽  
Specific Knowledge ◽  
Data Set ◽  
Content Type ◽  
Knowledge Based ◽  
Negative Effect ◽  
Compensation Gap ◽  
Specific Human Capital

Purpose This study aims to build on equity theory to assess the effect of chief executive officer (CEO) underpayment on the accumulation of firm-specific knowledge, accounting for the moderating effects of the CEO compensation gap and the clarity of the board’s informal hierarchy. Design/methodology/approach This study starts with all firms listed in the Execucomp database for the period 1992 to 2006. Then, all data sources are merged and entries with missing information are excluded. The final data set used for model estimations includes 1,152 firm-year observations. The command xtreg in Stata 12 with the fixed-effect option (fe) is used to estimate the relationship between CEO underpayment and firm-specific knowledge. Findings This study proposed and examined the role of CEO underpayment in discouraging CEO willingness to invest firm-specific human capital and, accordingly, to adopt a strategy of accumulating lower levels of firm-specific knowledge assets. The empirical analyses strongly support this argument. Moreover, CEO compensation gaps and the informal hierarchy of boards negatively moderated this relationship. That is, CEO underpayment had a weaker negative effect on firm-specific knowledge when the CEO compensation gap and the clarity of the board’s informal hierarchy were high. Originality/value Prior studies from the knowledge-based perspective have focused on the importance of firm-specific knowledge in enabling a firm to achieve superior financial performance. However, relatively little attention has been paid to CEOs’ willingness to accumulate firm-specific knowledge. The present study contributes to the knowledge-based view of the firm. This study integrates equity theory with the knowledge-based view of the firm by highlighting how unfair compensation of CEOs may discourage them to fully realize a firm’s potential to generate specific knowledge. By incorporating the fairness issue of CEO compensation into the knowledge-based view, this study contributes to a deeper understanding of the origins of firm-specific knowledge.

Is business planning useful for the new venture emergence?

2018 ◽  
Vol 12 (4) ◽  
pp. 847-870 ◽  
Author(s):  
Ya-long Wei ◽  
Dan Long ◽  
Yao-kuang Li ◽  
Xu-sheng Cheng
Keyword(s):  
Early Stage ◽  
Contextual Factors ◽  
New Ventures ◽  
Panel Study ◽  
Binary Logistic Regression ◽  
New Venture ◽  
Business Planning ◽  
Content Type ◽  
Innovative Products ◽  
The Impact

Purpose The purpose of this paper is to build a research model to examine the effects of business planning on the new venture emergence, as well as to examine the moderating effects of innovativeness of products. Design/methodology/approach Four hypotheses are put forward and examined by hierarchical binary logistic regression. The data of this paper are based on the first two waves of data from Chinese Panel Study of Entrepreneurial Dynamics project. Findings Results show that engaging in business planning has a positive effect on the new venture emergence, and the timing of business planning does not affect the new venture emergence significantly. This study also finds that the innovativeness of products has a positive moderating effect on the relationship between the timing of business planning and the new venture emergence. Research limitations/implications This study has some limitations. The innovativeness of products is measured by a single indicator, which may not completely reflect the meaning of the attribute. Moreover, this study explores new ventures only in the nascent stage. Practical implications The study is useful for entrepreneurs to realize the importance of business planning. First, engaging in business planning in early start-up stage is a very valuable activity, because business planning can help new ventures reduce the loss caused by trial and error learning. Second, engaging in business planning is more likely to ensure high innovative products quickly be accepted by the market. Because in the process of new venture emergence, the legitimacy signal to stakeholders can be transmitted and new products can be promoted to get support and recognition from stakeholder through the business plan. Originality/value This paper focuses on the early stage of new venture life cycle and the contextual factors to explore the influence of business planning on the new venture emergence under the logic of legitimacy. This paper could enrich business planning research from the perspective of legitimacy theory by inspiring scholars to focus on the differences between new ventures and mature enterprises and to offer proposals of legitimation strategies suitable for new ventures. Meanwhile, this study contributes to the understanding of the contextual factors of business planning. And it discusses the impact of the attribute in business planning on the new venture emergence, which helps scholars to get a deep thought about the value of business planning in entrepreneurial process.

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