The Finances of the Hungarian Aristocracy in Boom and Recession

Based on primary sources, the present study is intended to reconstruct and analyze the process and levels of indebtedness of some of the outstanding Hungarian aristocratic families possessing large landed properties in the western region of Hungary, mainly in the Transdanubian counties. The author provides exact numerical data on the changes of the registered amounts of credit transactions, the stocks of assets and liabilities of the princely line of the Esterházy, Batthyány and the Keszthely branch of the Festetics families at the turn of the eighteenth and nineteenth centuries. He explores the various documents kept by the financial administrations of the families, including contemporary county mortgage records, which testify to an extremely lively lending and borrowing environment during the French Wars. The study concludes that devaluations and the financial crises of the Austrian Empire in the 1810s exerted an adverse effect on the finances of both the above families and contemporary ‘small investors’.

Investment Performance: Emotional Beasts are Dragging into the Darkness of the Castle

The study documented the way forwards to sustain investment performance, and answered that why emotional beasts (e.g. small investors) are irrational in managing their investment performance, in Pakistan stock exchange (PSX). For this, reasons and challenges are identified to give solutions by testing the intervening link of non-cognitive individual differences (NCIDs) of small investors between investor’s personality traits and investment performance. Using multi-stage cluster sampling, the responses of small investors (n = 248) were taken and structural equation modelling (SEM) was used to draw an inference between constructs. Our result traced mediating role of NCIDs between investor’s personality traits and investment performance. The findings extended the notion that small investors are the emotional investors and emotional disparities in the behavior of small investors are making PSX market conditions as slippery. In return to these inconsistencies, PSX is generating lower rate of return and a weak form of investment efficiency, on regular basis. Therefore, this is important to review and revise PSX’ investment mechanism and offer a sustainable and viable business plan for effective PROI acquisition, enhancing investor base by listing the maximum number of new companies, rigorously teaching and training small investors and updating databases accordingly. Our recommendations would be helpful to uplift the confidence in small investors’, depth in PSX asset base, market efficiency and rational trading. By achieving these proponents in PSX highly guarantees a strong investment performance and to turn the horde of such emotional beasts into a team of rational investors.

Persepsi Masyarakat Terhadap Minat Investasi Pemodal Kecil Di Pasar Modal

This study aims to analyze people's perceptions of small investors' investment interests and examine the efforts made by the government to encourage small investors to invest in the capital market. This study uses empirical legal research methods. The fact that exists in society is caused by the perception that a large amount of capital is needed to invest in the capital market, which then this perception causes small investors to be reluctant to invest in the capital market. Related to this, the government also seeks to encourage small investors to invest in the capital market by providing legal protection and ease of investing in the capital market. Penelitian ini bertujuan menganalisis persepsi masyarakat terhadap minat investasi pemodal kecil serta mengkaji upaya yang dilakukan pemerintah untuk mendorong pemodal kecil berinvestasi di pasar modal. Penelitian ini menggunakan metode penelitian hukum empiris. Fakta yang ada di masyarakat disebabkan oleh persepsi yang mengatakan bahwa diperlukan modal yang besar untuk terjun dalam investasi pasar modal, yang kemudian persepsi tersebut mengakibatkan pemodal kecil menjadi enggan berinvestasi di pasar modal. Terkait dengan hal itu pemerintah pun berupaya untuk mendorong pemodal kecil berinvestasi di pasar modal dengan cara memberikan perlindungan hukum serta kemudahan dalam berinvestasi di pasar modal.

Mutual Funds: An Outrageous Progression in Investment

Mutual funds are the key factor for the financial arbitrator. Corporations, governments, and individual investors are benefitted out of mutual funds on a large scale. Mutual funds seem to be an attractive scheme of investment among society. The new money flow in terms of investment yields enhanced results in mutual fund investment. Mutual funds attract small investors to benefit greatly due to diversified capabilities. Shareholders are benefited through mutual funds in numerous ways. This paper tries to analyse the importance of mutual funds and their need in this current scenario. Further, this paper also tries to investigate the ways in improving the growth of mutual fund investment plans among the public.

The Analysis of Small Investors’ Demands on a Thermal Insulation System for a Family House: A Case Study

This study deals with small investors’ demands on thermal insulation systems when choosing the most suitable solution for a family house. By 2050, seventy percent of current buildings, including residential buildings, are still expected to be in operation. To reach carbon neutrality, it is necessary to reduce operational energy consumption and thus reduce the related cost of building operations and the cost of the life cycle of buildings. One solution is to adapt envelopes of buildings by proper insulation solutions. To choose an optimal thermal insulation system that will reduce energy consumption of building, it is necessary to consider the environmental cost of insulation materials in addition to the construction cost of the materials. The environmental cost of a material depends on the carbon footprint from the initial origin of the material. This study presents the results of a multi-criteria decision-making analysis, where five different contractors set the evaluation criteria for selection of the optimal thermal insulation system. In their decision-making, they involved the requirements of small investors. The most common requirements were selected: the construction cost, the construction time (represented by the total man-hours), the thermal conductivity coefficient, the diffusion resistance factor, and the reaction to fire. The confidences of the criteria were then determined with the help of the pairwise comparison method. This was followed by multi-criteria decision-making using the method of index coefficients, also known as the method of basic variant. The multi-criteria decision-making included thermal insulation systems based on polystyrene, mineral wool, thermal insulation plaster, and aerogels’ nanotechnology. As a result, it was concluded that, currently, in Slovakia, small investors emphasize the cost of material and the coefficient of thermal conductivity and they do not care as much about the carbon footprint of the material manufacturing, the importance of which is mentioned in this study.

The impact of social media and e-WOM on the success of reward-based crowdfunding campaigns

Crowdfunding (CF) is a financial tool that has faced an impressive growth over the past few years, and provides an alternative form of fundraising entrepreneurial projects. However, not all CF campaigns are successful in attracting the investors’ interest and obtaining the pledging goal. As CF is built over internet platforms, digital marketing strategies have been used to improve awareness and engage people to contribute with small amounts of money for a given CF campaign. Hence, this paper intends to study the effect of social media and electronic word of mouth (e-WOM) on the CF campaigns’ outcomes and whether these digital marketing strategies might influence the small investors’ decision to support or not a reward-based CF campaign. Using a sample of data from the second largest American reward-based CF platform (Indiegogo), we have applied the multiple OLS regression analysis, to assess the causal effect of various sets of variables in the success rate of a CF campaign. The findings show that social media and e-WOM strategies play a critical role and have a positive significant impact on a CF campaign.

Financing Nascent Entrepreneurs by Reward-Based Crowdfunding

A problem faced by nascent entrepreneurs is to attract outside capital to finance a new venture. A new promising funding mechanism created outside the banking system is crowdfunding (CF). The reward-based model of CF allows nascent entrepreneurs to capture funds from a large group of small investors through a campaign on the Internet. In return for the contribution of the backers, crowdfundees provide rewards (tangible items or services) or other types of incentives. However, in order to be successful a campaign must be designed according to a strategy that encompasses important steps. This study collects data from projects posted in the Indiegogo platform to identify the critical factors of a successful reward-based campaign. The results indicate that it is possible to find an explanation for the different levels of success of reward CF campaigns based on the analysis of the characteristics of the project (depth of the description, updates, and type) and its founders (own presentation, number of backers, team involved, and previous experience).

https://www.puntoorginternationaljournal.org/index.php/PIJ/article/view/90

Thanks to fundraising from small investors, principally through social media and online forums, equity crowdfunding (EC) is emerging as an important new financing mechanism for new ventures. However, the literature about equity crowdfunding and social media is still scarce, and no studies have jointly investigated these topics in Italy. As a result, this study aims at investigating, through an exploratory quantitative research approach based on social network analysis (SNA) methodology, the role that equity crowdfunding platforms have on social media, specifically on Twitter. The results of our study indicate that higher numbers of tweets and users spoke about equity crowdfunding following the introduction of Consob Regulation no. 20264 (17/01/2018) on equity crowdfunding and the growth of the use of this instrument in the first quarter of 2019. The study contributes to the literature on crowdfunding and social networks, shedding light on specific aspects typical of an equity model.