scholarly journals Empirical Examination of the Relationship Between Venture Capital Financing and the Profitability of the Portfolio Companies in Uganda

2021 ◽  
Author(s):  
Ahmed Idi Kato ◽  
Chiloane-Phetla E Germinah
Keyword(s):  
Venture Capital ◽  
Positive Impact ◽  
Early Stage ◽  
Multiple Regression Model ◽  
Superior Performance ◽  
Empirical Examination ◽  
Capital Financing ◽  
Value Add ◽  
Enterprise Success ◽  
The Relationship

Abstract PurposeThis paper empirically examined the relationship between Venture capital Financing and the profitability of portfolio companies in Uganda. Several empirical works paint an intriguing picture that VC financing is a reality in fostering economic growth of the early-stage enterprisesDesign/methodology/approachThe paper embraced a mixed-method wherein quantitative data were collected from 68 key VC stakeholders and statistical data was analysed using a multiple regression model by generating the results from the SPSS. This was supplemented by 16 semi-structured face-to-face interviews. Qualitative data were transcribed and analysed using Altas-ti.Findings The key findings from this study suggest superior performance of VC-financed enterprises following VC financing when compared to non-VC financed enterprises. The VC-financed enterprises realised tremendous growth in terms of: Return on Equity - 42.3%; profitability - 30% - 50%; Return on Assets - 44.5%. In addition, 63% of the respondents confirmed a positive impact of government regulatory policy in enhancing the development of the early-stage firms. The higher the percentage of growth the better for the growth of the company. Research limitations/implicationsThis study may assist the policymakers and business fraternity to develop policy frameworks tailored to enhancing a vibrant venture capital market in Uganda. Contribution/value-addThis study makes a vital contribution to knowledge by offering a diversified framework for enterprise success, to benefit the VC stakeholders in customizing funding programs that can propel the early-stage enterprise success in Uganda and similar emerging economies.

scholarly journals Strategic orientations of the organization - entrepreneurial, market and organizational learning

Management ◽  
2019 ◽  
Vol 23 (1) ◽  
pp. 7-19 ◽  
Author(s):  
Kazimierz Krzakiewicz ◽  
Szymon Cyfert
Keyword(s):  
Organizational Learning ◽  
Business Performance ◽  
Positive Impact ◽  
Superior Performance ◽  
Organisational Performance ◽  
Internal Factors ◽  
Underlying Assumption ◽  
Strategic Orientations ◽  
Key Aspects ◽  
The Relationship

Summary The underlying assumption of this study is that it is possible to define some principles of strategic management. These principles, called strategic orientations, influence and direct the activities of an organisation and are intended to ensure its viability and superior performance. So far, studies into strategic orientations that set out to explain different levels of organisational performance prove that each type of strategic orientation can have a positive impact on business performance. The purpose of this study is to discuss the key aspects of the three strategic orientations - entrepreneurial, market and organizational learning, outlining the relationship between them and the consequences of their choice on the development of the organization. In addressing entrepreneurial, market and learning orientations, the study has described some of the relationships between orientations and their effect on organisational performance. This has allowed us to identify areas of future studies on strategic orientations – that is to say, their integration, the effect of their configurations on organisational performance in different environments, and internal factors underlying strategic orientations.

Relationship between explosive strength characteristics with change of direction speed in junior and cadet karate athletes

2021 ◽  
pp. 1-10
Author(s):  
Alex Ojeda-Aravena ◽  
Tomás Herrera-Valenzuela ◽  
Pablo Valdés-Badilla ◽  
Jairo Azócar-Gallardo ◽  
Victor Campos-Uribe ◽  
...  
Keyword(s):  
Multiple Regression Model ◽  
Superior Performance ◽  
Percentage Increase ◽  
Strength Index ◽  
Squat Jump ◽  
Change Of Direction ◽  
Explosive Strength ◽  
Physical Abilities ◽  
The Relationship ◽  
Karate Athletes

BACKGROUND: Explosive strength and change of direction speed (CODS) are relevant physical abilities in karate. OBJECTIVE: To examine the relationship between the characteristics of explosive strength and the 5-m linear sprint (5M) with CODS performance and ii) to examine the influential characteristics of explosive strength on CODS performance. METHODS: Eighteen cadet and junior karate athletes, eight females and ten males were evaluated. The physical abilities assessments included: squat jump (SJ), countermovement jump (CMJ), 5M and CODS. Also, pre-stretch percentage increase (PSA), eccentric utilization index (EUR) reactive strength index (RSI) were calculated. RESULTS: Superior performance (p< 0.05) was documented in SJ, CMJ and CODS in male vs. female. Also, significant correlations between CODS with SJ and CMJ (r=-0.70 to -0.80; R2=-0.51 to -0.73; p< 0.05, respectively) and correlations (r=-0.14 to -0.22; R2= 0.01 to 0.04; p> 0.05) between CODS with RSI, EUR and PSA. Multiple regression model documented that only SJ significantly influenced CODS performance in male (R2= 60%; p= 0.009) and female (R2= 71%; p= 0.001). CONCLUSION: CODS correlate with SJ and CMJ. In particular, SJ influence CODS independently of gender.

scholarly journals Expansion And International Expansion Of Small-To Medium Sized Firms: The Role Of Finance

2011 ◽  
Vol 4 (2) ◽  
Author(s):  
Jan Smolarski ◽  
Can Kut ◽  
Neil Wilner
Keyword(s):  
Venture Capital ◽  
Early Stage ◽  
High Growth ◽  
International Expansion ◽  
International Growth ◽  
Lump Sum ◽  
Capital Funding ◽  
Capital Financing ◽  
Venture Funding

Small- to medium-sized firms are expected to show international growth at an early stage. Several factors may affect the outcome of initial efforts to expand and internationalize. Our research examines how equity based venture funding affects SME expansion and internationalization. We divide venture capital financing into two categories: incremental financing where firms receive their venture capital funding in portions and lump-sum venture funding where firms receive their funding in one lump-sum. The results show that type of equity based venture capital financing affect expansion and internationalization. Incremental funding appears more appropriate for firms with high growth rates whereas lump-sum financing appears more appropriate for firms that are internationalizing their operations.

scholarly journals Private equity and venture capital financing in the Czech Republic and other european countries – development, opportunities and limitations

2011 ◽  
Vol 59 (7) ◽  
pp. 307-316
Author(s):  
Jaroslava Rajchlová ◽  
Zdeněk Brož ◽  
Michaela Baranyková ◽  
Michal Polák
Keyword(s):  
Czech Republic ◽  
Venture Capital ◽  
Private Equity ◽  
Positive Impact ◽  
Time Frame ◽  
European Countries ◽  
The Czech Republic ◽  
Business Plans ◽  
Low Level ◽  
Capital Financing

Financing by means of private equity and venture capital (PE/VC) offers businesses the resources required to finance their future growth and bring prospective business plans and innovative ideas to reality. This form of financing is relatively new and even though it offers clear advantages it is not frequently used in the Czech Republic and other European countries in the CEE region. This paper addresses current and very relevant issues related to this form of financing. The purpose of this research is to identify opportunities and limitations for this type of financing based on benchmarking analysis. This analysis observes the development of PE/VC financing in the Czech Republic and compares it with several other countries in the CEE region. This paper discusses several factors that influence the development of PE/VC financing. Several conclusions can be drawn from this research. The Czech Republic is in 10th place in the utilization of venture capital from the selected 22 countries covered in this research. The time frame for this research is between 2004 and 2010. After thorough analysis of development and conditions in other countries a list of recommended changes that have proven positive impact on the whole economy is formulated. The relatively low level of utilization of the venture capital in the Czech Republic may be due to several things for example by a lack of knowledge of this form of financing and the inability of the management to formulate a business plan that is interesting for the PE/VC investor. The managers are often afraid of the administrative complexity and also the investor expects relatively high profitability of the investment. Another possible limitation is that the public issuing of stocks is used rarely in the Czech Republic. Another cause for the low level of utilization is the absence of public and institutional support for this form of financing. Venture capital has clear and measurable positive impacts on the whole economy and it is therefore important to support and research the use of this method of financing.

scholarly journals Entrepreneurial Passion and Venture Capitalists’ Willingness to Invest: The Role of Relational Capital

2021 ◽  
Vol 12 ◽  
Author(s):  
Hongtao Yang ◽  
Hangyu Shi ◽  
Yenchun Jim Wu ◽  
Lei Zhang ◽  
Shuting Xie
Keyword(s):  
Venture Capital ◽  
Capital Investment ◽  
Conflicts Of Interest ◽  
Positive Impact ◽  
Relational Capital ◽  
Venture Capitalists ◽  
Venture Capital Investment ◽  
Entrepreneurial Passion ◽  
The Relationship

Venture capital investment has serious conflicts of interest and information asymmetry. Venture capitalists often make investment decisions on the basis of the passion of entrepreneurs, including enthusiasm and preparedness, in the process of interacting with them. Most of the previous research on relational capital have focused on the cooperative relationship between suppliers and buyers. However, the role of relational capital in the process of partnership between venture capitalists and entrepreneurs has not been revealed. On the basis of signaling theory, we explore the relationship between entrepreneurial passion and venture capitalists’ willingness to invest. We also examine the mediating and moderating roles of relational capital. This study takes 79 projects between venture capitalists and entrepreneurs as samples for empirical analysis to verify our hypothesis. Results show that entrepreneurs’ enthusiasm and preparedness have a significant positive impact on venture capitalists’ willingness to invest. Relational capital plays a mediating role between entrepreneurial passion and venture capitalists’ willingness to invest. Relational capital positively moderates the relationship between preparedness and venture capitalists’ willingness to invest but has no moderating effect between enthusiasm and venture capitalists’ willingness to invest. Results deepen the understanding of the relationship between entrepreneurs’ passion and venture capitalists’ willingness to invest, which has guiding significance for venture capital practice in China.

Managing differences, interaction, and partnership quality in global inter-firm relationships

2019 ◽  
Vol 12 (3) ◽  
pp. 730-754 ◽  
Author(s):  
Yogi Yusuf Wibisono ◽  
Rajesri Govindaraju ◽  
Dradjad Irianto ◽  
Iman Sudirman
Keyword(s):  
Information Exchange ◽  
Structural Equation ◽  
Field Survey ◽  
Positive Impact ◽  
Equation Modeling ◽  
Empirical Examination ◽  
Content Type ◽  
Partnership Quality ◽  
The Relationship ◽  
Practical Implications

Purpose The purpose of this paper is to develop and to empirically test a model that explains how managing differences between an information technology (IT) provider and an overseas client influences partnership quality and ultimately affects the continuity of the relationship. Design/methodology/approach A field survey by distributing questionnaires to Indonesian IT providers was conducted over four months, yielding 78 completed responses. These empirical data were analyzed by the partial least squares–structural equation modeling technique to examine the measurement and structural models. Findings Managing differences, i.e. cultural, temporal and standards differences, has a positive impact on partnership quality through inter-firm interaction, i.e. information exchange, coordination and participation. Partnership quality, consisting of the dimensions of commitment, trust and integration, has a substantial positive impact on the continuity of the relationship. Research limitations/implications This study was limited by the use of a limited number of samples, reducing the precision of the results. Practical implications This study suggests that if the IT provider is able to manage the cultural, temporal and standards differences with the overseas client, it increases information exchange, coordination and participation between both parties, which are necessary for establishing a high-quality partnership. Originality/value This study is the first empirical examination of how the management of differences between an IT provider and an overseas client influences the continuity of their relationship through interaction and partnership quality.

scholarly journals Beneficiary contact moderates relationship between authentic leadership and engagement

2016 ◽  
Vol 15 ◽  
Author(s):  
Caren B. Scheepers ◽  
Sarah L. Elstob
Keyword(s):  
Work Engagement ◽  
Authentic Leadership ◽  
Positive Relationship ◽  
Positive Impact ◽  
Situational Factor ◽  
Leaders And Followers ◽  
Managerial Implications ◽  
Value Add ◽  
The Impact ◽  
The Relationship

Orientation: Beneficiary contact moderates the relationship between authentic leadership and work engagement.Research purpose: The objective of this study was to examine the moderating effect of the breadth, depth and frequency of employee interaction with the beneficiaries of their work on the positive impact of authentic leadership on work engagement.Motivation for the study: Investigating the boundary conditions of the relationship between leaders and followers is vital to enhance the positive effect of leadership. Authentic leadership has not previously been examined with respect to beneficiary contact as a specific situational factor. The researchers therefore set out to ascertain whether beneficiary contact has a strengthening or weakening effect on the impact of authentic leadership on work engagement.Research design, approach and method: The researchers administered the Authentic Leadership Questionnaire (ALQ), the Utrecht Work Engagement Scale (UWES-9) and Grant’s scale on Beneficiary Contact.Main findings: The findings showed that beneficiary contact had a weakening effect on the positive relationship between authentic leadership and work engagement.Practical/managerial implications: Ideally, organisations create environments conducive to work engagement in which leadership plays an important role. This study found that one factor in the work environment, namely beneficiary contact, might have an adverse effect on the positive relationship that authentic leadership has on work engagement. Leaders should therefore take organisational contextual realities into account, such as regular, intense interaction of employees with the beneficiaries of their work. This situation could create strain for individual employees, requiring additional organisational support.Contribution/value-add: Organisations need to recognise the impact of beneficiary contact on the relationship between authentic leadership and work engagement. The researchers propose further studies on the influence of contextual variables on the relationship between leaders and followers.

scholarly journals An Empirical Examination of The Relationship Between the Background Characteristics of The CEO and Overall Corporate Reputation

1970 ◽  
Vol 14 (2) ◽  
pp. 141-155
Author(s):  
Peter Stanwick ◽  
Sarah Stanwick
Keyword(s):  
Chief Executive Officers ◽  
Corporate Reputation ◽  
Positive Impact ◽  
Chief Executive ◽  
Past Research ◽  
Background Characteristics ◽  
Empirical Examination ◽  
Time Period ◽  
Executive Officers ◽  
The Relationship

This paper examines the relationship between the overall corporate reputation of an organization and the background characteristics of the Chief Executive Officers (CEOs) across twenty-one major industry classifications. Four background characteristics are examined: (1) age, (2) tenure with the company, (3) tenure as CEO, and (4) functional background (career path). These characteristics are explored by examining the overall corporate reputation of the organization through a proxy, the Fortune Corporate Reputation Index. Drawing on past research in the area of background characteristics (Hambrick and Mason, 1984) and corporate reputation (Fombrun and Shanley, 1990), hypotheses were tested which examined the background characteristics of CEOs and the company’s overall corporate reputation. The results of this paper show that, in general, the CEO's background characteristics impact the level of overall corporate reputation of the firm. The type of functional background of the CEO has a significant positive impact on the level of overall corporate reputation. Over a four-year time period (1990 to 1994), age, tenure with the company, and tenure as CEO were negatively related to the overall corporate reputation of organizations that retained their CEO. For firms that had replaced the CEO, a positive relationship between overall corporate reputation and tenure with the company and age was discovered.

Ownership Structure, Strategic Posture, and Firm Growth: An Empirical Examination

1994 ◽  
Vol 7 (3) ◽  
pp. 237-249 ◽  
Author(s):  
Catherine M. Daily ◽  
Sandra S. Thompson
Keyword(s):  
Ownership Structure ◽  
Firm Growth ◽  
Superior Performance ◽  
Ownership Type ◽  
Empirical Examination ◽  
Basic Premise ◽  
Strategic Posture ◽  
Performance Results ◽  
The Relationship ◽  
Ownership Types

Distinctions among various firm ownership types have gained increasing attention among organizational researchers. The basic premise advanced is that ownership type affects firm processes and outcomes. Extant research, however, has largely addressed the relationship between ownership type and firm performance, with little attention to the means for achieving higher performance. This study investigates the relationships among firms' ownership structure, strategic posture, and firm growth. Strategic posture can provide a firm with a means for attaining a competitive advantage in the marketplace and achieving superior performance. Results indicate that strategic posture does not differ based on the ownership structure of the firm. Additionally, regression analysis demonstrates no effect for ownership structure or strategic posture on firm growth.

Sign in / Sign up

Export Citation Format

Share Document