The Existence of New Ventures: Path Dependence, Diseconomies of Scope, and Schumpeterian Competition

2011 ◽  
Author(s):  
Yan Chen
Keyword(s):  
Path Dependence ◽  
New Ventures ◽  
Schumpeterian Competition

Path Dependence in New Ventures’ Capital Structures

2020 ◽  
pp. 104225872090171 ◽  
Author(s):  
Mikael Samuelsson ◽  
Anna Söderblom ◽  
Alexander McKelvie
Keyword(s):  
Path Dependence ◽  
New Ventures ◽  
External Financing ◽  
Longitudinal Sample ◽  
Theoretical Reasoning ◽  
Over Time

We explore new ventures’ capital structures, providing novel theoretical reasoning concerning path dependence. We examine a longitudinal sample of 1,756 Swedish startups and their use of external financing. We find support for path dependence in new ventures’ financial structures in that their early funding choices of subsidies, debt or equity, persist over time, with the strongest path effect for equity. In line with theory, those ventures who replace their CEO are more likely to change capital structures. Our study adds to the stream of research providing alternative explanations to prevailing theories of the evolution of new ventures’ financing structures.

The Erosion of Path Dependence and Signaling Value of Prior Experience in New Ventures

2017 ◽  
Vol 2017 (1) ◽  
pp. 14072
Author(s):  
Laura Gasiorowski
Keyword(s):  
Path Dependence ◽  
Prior Experience ◽  
New Ventures

From transaction costs to transaction value: Overcoming the frictional paradigm

2020 ◽  
pp. 51-81
Author(s):  
D. P. Frolov
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Path Dependence ◽  
Transaction Cost Economics ◽  
Cost Minimization ◽  
Low Cost ◽  
Coase Theorem ◽  
Transactional Analysis ◽  
Transaction Sector ◽  
Transaction Value

The transaction cost economics has accumulated a mass of dogmatic concepts and assertions that have acquired high stability under the influence of path dependence. These include the dogma about transaction costs as frictions, the dogma about the unproductiveness of transactions as a generator of losses, “Stigler—Coase” theorem and the logic of transaction cost minimization, and also the dogma about the priority of institutions providing low-cost transactions. The listed dogmas underlie the prevailing tradition of transactional analysis the frictional paradigm — which, in turn, is the foundation of neo-institutional theory. Therefore, the community of new institutionalists implicitly blocks attempts of a serious revision of this dogmatics. The purpose of the article is to substantiate a post-institutional (alternative to the dominant neo-institutional discourse) value-oriented perspective for the development of transactional studies based on rethinking and combining forgotten theoretical alternatives. Those are Commons’s theory of transactions, Wallis—North’s theory of transaction sector, theory of transaction benefits (T. Sandler, N. Komesar, T. Eggertsson) and Zajac—Olsen’s theory of transaction value. The article provides arguments and examples in favor of broader explanatory possibilities of value-oriented transactional analysis.

The Effects of Path Dependence and Economy of Scale in Russian legislature

2014 ◽  
pp. 58-82 ◽  
Author(s):  
S. Kirdina ◽  
A. Rubinstein
Keyword(s):  
Path Dependence ◽  
Economy Of Scale

Crowdfunding as an Alternative Method of Raising Capital

e-Finanse ◽  
2018 ◽  
Vol 14 (4) ◽  
pp. 56-66
Author(s):  
Katarzyna Wierzbicka
Keyword(s):  
Financial Market ◽  
Comparative Research ◽  
Large Scale ◽  
New Ventures ◽  
Secondary Data ◽  
Polish Literature ◽  
Investment Projects ◽  
Research Task ◽  
Type Of Institution ◽  
Insufficient Knowledge

AbstractCrowdfunding is a method of financing new ventures, commercial, cultural or social, often in return for future products or actions, engaged in by many investors. Currently, it is an important element in the structure of available sources of financing for investment projects. Despite the interest of potential investors, individual social sponsors and large-scale activities of institutions promoting knowledge about the functioning of crowdfunding aimed at encouraging and promoting it as a source of capital for new ventures, there is a lack of knowledge and, consequently, experience on its development and achievement. The aim of this study is to analyze this source of financing, assess its development globally and in Poland. In the preparation of the article,. a critical analysis of foreign and Polish literature was carried out, and descriptive and comparative research methods applied. The research task undertaken in the study was to analyze the crowdfunding market globally and in Poland. The Polish crowdfunding platforms were detailed and compared in terms of value in relation to the largest global platforms. The source for analyses of crowdfunding development in Poland was available literature on the analyzed topic and secondary data from the websites of specialized internet platforms. The article depicts a new, but important, aspect of financing the activity of enterprises, which is crowdfunding. It should be emphasized that there is still insufficient knowledge about this type of institution and, as a result, the importance and role that social financing plays in the financial market.

Blank Canvas

2020 ◽  
Vol 9 (2) ◽  
Author(s):  
Ben Toscher
Keyword(s):  
Music Education ◽  
Learning Environments ◽  
New Ventures ◽  
Entrepreneurship Education ◽  
Social Contexts ◽  
Knowledge Generation ◽  
Learning Theories ◽  
Personal Agency ◽  
Personal Factors ◽  
Entrepreneurial Knowledge

The majority of learning in arts entrepreneurship education is experiential (Essig & Guevara, 2016). Experiential and entrepreneurial learning theories indicate that to facilitate entrepreneurial knowledge generation which “enables [entrepreneurs] to recognize and act on entrepreneurial opportunities and to organize and manage new ventures” (Politis, 2005, p. 400), individuals need to exercise personal agency and engage in explorative behavior (Kolb & Kolb, 2009; Politis, 2005). If arts entrepreneurship education is to help students generate such entrepreneurial knowledge, arts entrepreneurship educators should create learning environments in which their students can exercise personal agency and behave exploratively. Despite this, how students exercise personal agency and explore within arts entrepreneurship education has not been empirically studied. This empirical paper attempts to answer the following question: How do students explore and exercise personal agency in arts entrepreneurship education? Using rigor to systematically analyze qualitative data (Gioia et al., 2013) from a five-week course in entrepreneurship in higher music education to produce a data structure and model, I find that within a teacher-created learning environment, students balance personal factors (their values and beliefs, habitual modes of thought, prior experience and personal goals) against social factors (social interdependencies and conditions of approval) while taking actions to reduce uncertainty. The findings imply that teacher-created learning environments and engagement in social contexts influences how students exercise personal agency and explore.  

Eurasian Competitive Capacity Turkey

2016 ◽  
Author(s):  
Hakkı Çiftçi ◽  
Aliye Erşahinoğlu
Keyword(s):  
Technological Development ◽  
New Ventures ◽  
Study Data ◽  
Source Distribution ◽  
Global Competition ◽  
Competition Index ◽  
Balanced Growth ◽  
Innovative Management ◽  
Energy Trade ◽  
And Function

New ventures and creation of market awareness and industrial competition make competition as a prior concept. From this, evaluation of Eurasian competition capacity from the viewpoint of Turkey gains importance as an issue. Within the scope of EU 2020; 3 thematic priorities, 5 main targets, 7 initiatives were determined as a basis. This study that aims developing innovative management and achieving sustainable and more balanced growth with powerful innovative competition capacity, will take basic policies, which will create the competition capacity leans from Turkey to Eurasia, as a basis. This study also includes the analyses of sectoral competition capacity from Turkey to Eurasia as well as legal regulations, energy, trade, employment and geographical dimensions. As the method of this study, data regarding the indications of competition capacity over the last decade will be evaluated, deficiencies will be determined, source distribution will be directed, technological development functions will be achieved, efficient and function competition will be coordinated with the economic growth and a series of measurements will be taken and competition policies will be established in this regard. This study will also analyze the competition policies of Turkey and Eurasia and their objectives, efficiency and measurement of competition, general overview of Eurasian economies, global competition in Eurasian countries, index sequencing and scores in accordance with developed innovation in terms of Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan and Turkey. Through the evaluation of rankings of Eurasian economies within Global Competition Index as well as the scores and Global Competition Report, the study will be concluded.

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