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2018

Pepperdine University

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Full-Text Articles in Business

Uganda Invest In Foreign Markets: Uganda As A Case Study, Morgan T. Lynch Dec 2018

Uganda Invest In Foreign Markets: Uganda As A Case Study, Morgan T. Lynch

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


The Promised Land Is On The Horizon: The Fix Crowdfunding Act Will Implement Small Changes That Could Make A Big Impact On Investors And Businesses Alike, Michaela Smith Dec 2018

The Promised Land Is On The Horizon: The Fix Crowdfunding Act Will Implement Small Changes That Could Make A Big Impact On Investors And Businesses Alike, Michaela Smith

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Trends In Fashion Law: Striking The Proper Balance Between Protecting The Art Form And Sustaining A Thriving Online Market, Elisabeth Johnson Dec 2018

Trends In Fashion Law: Striking The Proper Balance Between Protecting The Art Form And Sustaining A Thriving Online Market, Elisabeth Johnson

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Implementing A Portable Reciprocity Passport To Crowdfund Real Estate Across Borders, Raymond Tran Dec 2018

Implementing A Portable Reciprocity Passport To Crowdfund Real Estate Across Borders, Raymond Tran

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


"Flaw-Backs:" Executive Compensation Clawbacks And Their Costly Flaw, Connor Douglas Maag Dec 2018

"Flaw-Backs:" Executive Compensation Clawbacks And Their Costly Flaw, Connor Douglas Maag

The Journal of Business, Entrepreneurship & the Law

Saving money should not be expensive. Compensation “clawbacks” are a legal mechanism for companies to reclaim employee compensation, but the legislative framework is complex and disorganized. There are four primary federal claw-back provisions: Sarbanes-Oxley § 304, Dodd-Frank § 954, 12 U.S.C.A. § 5221(TARP), and Dodd-Frank § 956—as well as voluntary contractual clawback policies. This comment untangles the web of clawback legislation by overlaying each clawback mechanism to extract a single, clear, and concise description of executive compensation clawbacks, called the “Comprehensive Clawback Coverage.” The Comprehensive Clawback Coverage reveals a major flaw in the legal and regulatory framework: clawbacks increase agency …


Failed Anti-Activist Legislation: The Curious Case Of The Brokaw Act, Alon Brav, J.B. Heaton, Jonathan Zandberg Dec 2018

Failed Anti-Activist Legislation: The Curious Case Of The Brokaw Act, Alon Brav, J.B. Heaton, Jonathan Zandberg

The Journal of Business, Entrepreneurship & the Law

The Brokaw Act was proposed legislation aimed at “financial abuses being carried out by activist hedge funds who promote short-term gains at the expense of long-term growth . . . .” Sponsoring Senators named it after a small town in Wisconsin that, according to the Act’s sponsors, was decimated by the actions of a hedge fund activist in shutting down the local paper mill with a loss of hundreds of jobs. The Brokaw Act represented the first attempt at federal legislation aimed at restricting hedge fund activism. Since then, new and similar bipartisan proposals have appeared as have threats of …


Integrating Machine Learning In Law: A Precis Of Best Practices For Initial Law Firm Adoption, J. Mark Phillips Dec 2018

Integrating Machine Learning In Law: A Precis Of Best Practices For Initial Law Firm Adoption, J. Mark Phillips

The Journal of Business, Entrepreneurship & the Law

Much of the mystery surrounding machine learning lays not just in how it functions, but in how it is applied. This is especially true in the field of law, where the implementation of artificial intelligence has lagged other fields. This précis distills best practices of machine learning implementation and applies them succinctly to the unique environment of law. Guiding principles and considerations are provided for the technology team, the nature of law firm data, and the commitment level of the adopting law firm.


The Infinite Legal Acumen Of An Artificial Mind: How Machine Learning Can Permanently Capture Legal Expertise And Optimize The Law Firm Pyramid, J. Mark Phillips Dec 2018

The Infinite Legal Acumen Of An Artificial Mind: How Machine Learning Can Permanently Capture Legal Expertise And Optimize The Law Firm Pyramid, J. Mark Phillips

The Journal of Business, Entrepreneurship & the Law

As the legal industry gradually integrates artificial intelligence (AI) into its practice, the underlying technology continues to advance at a fever pitch. Machine learning platforms arguably represent the pinnacle of AI development, and this technology currently augments and replicates intelligent human tasks in ways never before conceived. The business applications of machine learning are bearing fruit across a spectrum of industries and professions. Yet despite machine learning’s demonstrated promise, its forays into the legal industry have been uneven. In fact, the most advanced forms of machine learning have been relegated primarily to lower-level attorney tasks such as e-discovery, due-diligence, and …


Curb Your Enthusiasm: The Real Implications Of Blockchain In The Legal Industry, Justin Evans Dec 2018

Curb Your Enthusiasm: The Real Implications Of Blockchain In The Legal Industry, Justin Evans

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Recent Developments Concerning The Purchase Of Consumer Debt; Defining Potential Problems And Proposals For Suggested Solutions, Gerald A. Williams Dec 2018

Recent Developments Concerning The Purchase Of Consumer Debt; Defining Potential Problems And Proposals For Suggested Solutions, Gerald A. Williams

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


2018 Q4 Private Capital Access Index Report, Craig R. Everett Oct 2018

2018 Q4 Private Capital Access Index Report, Craig R. Everett

Pepperdine Private Capital Access Report

The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Pepperdine Graziadio Business School, in partnership with Dun & Bradstreet. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


Assessing The Value Of Ventures: Crowd Investors Vs. Sophisticated Investors, Marco Bade Aug 2018

Assessing The Value Of Ventures: Crowd Investors Vs. Sophisticated Investors, Marco Bade

The Journal of Entrepreneurial Finance

Recent regulatory approaches in crowdfunding democratize capital markets. Adverse wealth effects may arise because of information asymmetry. Firoozi et al. (2017) argue that crowdfunding has wealth-reducing effects on crowd investors because they systematically assign less value to good ventures, and more to bad ventures. This paper aims to take a more differentiated perspective by incorporating two dimensions of uncertainty determining ventures’ value. It further takes into account that different investor types learn different information. This yields new findings concerning the assessment of venture value by crowd investors and sophisticated investors. Crowd investors’ may be able to better assess venture value, …


2018 Q3 Private Capital Access Index Report, Craig R. Everett Aug 2018

2018 Q3 Private Capital Access Index Report, Craig R. Everett

Pepperdine Private Capital Access Report

The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Pepperdine Graziadio Business School, in partnership with Dun & Bradstreet. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


2018 Q2 Private Capital Access Index Report, Craig R. Everett May 2018

2018 Q2 Private Capital Access Index Report, Craig R. Everett

Pepperdine Private Capital Access Report

The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Pepperdine Graziadio Business School, in partnership with Dun & Bradstreet. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


Reward-Based Crowdfunding Technological Projects Determinants Of Success: A Quantitative Study, Khalid Mahmoud Fadlelmula Elkhidir Apr 2018

Reward-Based Crowdfunding Technological Projects Determinants Of Success: A Quantitative Study, Khalid Mahmoud Fadlelmula Elkhidir

The Journal of Entrepreneurial Finance

Crowdfunding success in terms of the achievement of target capital in reward-based crowdfunding projects is impacted by many factors (e.g., past created projects, campaign duration, pledged capital). This paper studies the determinants of success rate (pledged capital/target capital) or (P/T) in successful technological crowdfunding projects. The quantitative study started by data collection of 328 successful Kickstarter technological crowdfunding campaigns which are later decreased to 289 due to model censorship. Tobit model was adopted as the censored linear regression model to determine the existence of relationships between the dependent variable (P/T) and the independent variables. Results suggest that success rate is …


Steering (Or Not) Through The Social And Legal Implications Of Autonomous Vehicles, Melissa L. Griffin Mar 2018

Steering (Or Not) Through The Social And Legal Implications Of Autonomous Vehicles, Melissa L. Griffin

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


Mapping Legalzoom's Disruptive Innovation, Matthew T. Ciulla Mar 2018

Mapping Legalzoom's Disruptive Innovation, Matthew T. Ciulla

The Journal of Business, Entrepreneurship & the Law

No abstract provided.


The Rise Of Artificial Intelligence In The Legal Field: Where We Are And Where We Are Going, Sergio David Becerra Mar 2018

The Rise Of Artificial Intelligence In The Legal Field: Where We Are And Where We Are Going, Sergio David Becerra

The Journal of Business, Entrepreneurship & the Law

The twenty-first century has brought significant technological advancement that permeates all aspects of our lives. The legal field, though slow in the adaption of this technology, is beginning to pick up the pace. Artificial Intelligence (AI) technology is used now to perform legal work once completed solely by legal practitioners. This Comment outlines what AI is and reviews the current use of AI in the legal field. It also identifies AI products and developments that are in place. Finally, it argues that lawyers will always be needed in the practice of law, despite the continued growth of AI.


Entire Fairness: A Call To Preserve Delaware Doctrine, Lisa Bei Li Mar 2018

Entire Fairness: A Call To Preserve Delaware Doctrine, Lisa Bei Li

The Journal of Business, Entrepreneurship & the Law

Appraisal arbitrage is on the rise. Institutional investors—namely, hedge funds—buy into target companies after their merger announcements and bet on the price. By purposely taking a minority position, these funds proceed to courts to obtain what they otherwise could not in the market: a “fair value.” Where there is no allegation of wrongdoing or injury, these plaintiffs nonetheless successfully divert deal value away from business combinations. Based on a misunderstood statute, appraisal arbitrage has exploded into a multi-billion dollar industry for large fund investors. In June 2016, amid growing concerns, the Delaware General Assembly amended section 262, Delaware’s appraisal statute. …


2018 Private Capital Markets Report, Craig R. Everett Mar 2018

2018 Private Capital Markets Report, Craig R. Everett

Pepperdine Private Capital Markets Report

The Pepperdine private cost of capital survey was originally launched in 2007 and is the first comprehensive and simultaneous investigation of the major private capital market segments. This year’s survey specifically examined the behavior of senior lenders, asset‐based lenders, mezzanine funds, private equity groups, venture capital firms, angel investors, privately‐held businesses, investment bankers, business brokers, limited partners, and business appraisers. The Pepperdine survey investigated, for each private capital market segment, the important benchmarks that must be met in order to qualify for capital, how much capital is typically accessible, what the required returns are for extending capital in today’s economic …


Toward A Corporate Finance Theory For The Entrepreneurial Firm, James S. Ang Mar 2018

Toward A Corporate Finance Theory For The Entrepreneurial Firm, James S. Ang

The Journal of Entrepreneurial Finance

Corporate finance for the entrepreneurial firm is fundamentally different from that of the traditional firm. The standard problems and solutions to both investment and financing are reformulated in this paper. The formulation is intended to capture two distinguishing features of entrepreneurial finance: 1) Although new ventures yield negative returns on average, they are in aggregate welfare increasing for the economy, after considering their positive externalities. 2) Due to new ventures’ lack of consistent cash flows, which precludes the use of debt, the debt versus equity financing choice is replaced by the choice between the entrepreneurs’ desire for wealth versus control; …


Popcorn Or Snack? Empirical Analysis Of Movie Release Windows, Nelson Granados, John G. Mooney Mar 2018

Popcorn Or Snack? Empirical Analysis Of Movie Release Windows, Nelson Granados, John G. Mooney

Graziadio Working Paper Series

No abstract provided.


Do Private Firms Benefit From Trading In The Private Securities Market?, Robert Loveland, Eric Fricke, Sinan Goktan Feb 2018

Do Private Firms Benefit From Trading In The Private Securities Market?, Robert Loveland, Eric Fricke, Sinan Goktan

The Journal of Entrepreneurial Finance

The trading of private securities has recently gained greater visibility and importance with the advent of organized, private security exchanges. This paper uses data on IPO firms that list on the SharesPost private securities exchange platform to examine the potential benefits of a listing. Specifically, we test whether a listing reduces IPO underpricing or enables liquidity provision to firm employees. Controlling for endogeneity, we find no evidence that a pre-IPO listing on SharesPost lessens IPO underpricing. However, we also find that SharesPost-listed companies are able to pay their employees less in cash and more in stock and stock options than …


2018 Q1 Private Capital Access Index Report, Craig R. Everett Feb 2018

2018 Q1 Private Capital Access Index Report, Craig R. Everett

Pepperdine Private Capital Access Report

The Pepperdine Private Capital Access Index (PCA) is a quarterly indicator produced by the Graziadio School of Business and Management at Pepperdine University, and with the support of Dun & Bradstreet. The index is designed to measure the demand for, activity, and health of the private capital markets. The purpose of the PCA Index is to gauge the demand of small and medium sized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


Digital Innovation At Toyota Motor North America: Revamping The Role Of It, Paul Betancourt, John Mooney, Jeanne W. Ross Feb 2018

Digital Innovation At Toyota Motor North America: Revamping The Role Of It, Paul Betancourt, John Mooney, Jeanne W. Ross

Graziadio Working Paper Series

No abstract provided.


Risk Premia In Commodity Price Forecasts And Their Impact On Valuation, James Dilellio, Joe Hahn, Jim Dyer Feb 2018

Risk Premia In Commodity Price Forecasts And Their Impact On Valuation, James Dilellio, Joe Hahn, Jim Dyer

Graziadio Working Paper Series

No abstract provided.


Succession Management Capabilities In A Vuca Environment: Lessons From The Healthcare Industry, Kevin S. Groves Feb 2018

Succession Management Capabilities In A Vuca Environment: Lessons From The Healthcare Industry, Kevin S. Groves

Graziadio Working Paper Series

No abstract provided.


In Search Of A Better Volatility, Firas Kotite, Clemens Kownatzki Feb 2018

In Search Of A Better Volatility, Firas Kotite, Clemens Kownatzki

Graziadio Working Paper Series

No abstract provided.


Constructing Tax Efficient Withdrawal Strategies For Retirees, James Dilellio, Dan Ostrov Feb 2018

Constructing Tax Efficient Withdrawal Strategies For Retirees, James Dilellio, Dan Ostrov

Graziadio Working Paper Series

No abstract provided.


Small And Medium Enterprises' Risk Exposures And Mitigation Approaches In Nigeria, Joshua Solomon Adeyele, Olubunmi Florence Osemene Jan 2018

Small And Medium Enterprises' Risk Exposures And Mitigation Approaches In Nigeria, Joshua Solomon Adeyele, Olubunmi Florence Osemene

The Journal of Entrepreneurial Finance

Risks militating against small and medium enterprises (SMEs) have been on the increase due to how risks mitigations are conducted by the owners/operators. Although thorough understanding of businesses undertaken by the owners of SMEs enables them to have a clear picture of risks affecting their businesses so as to act in proactive manner in order to mitigate or avoid the impending risks. To assess the risk exposures of SMEs, a random sampling technique was used to select 209 SMEs within Lagos and Benin City. Both descriptive and inferential statistics such as Phi and Gamma were used to analyse the data …