Business Commons^™

2017 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.

Impact Report 2017: Imsa30, The Promise And Power Of Imsa, Illinois Mathematics And Science Academy

Impact Reports

The State of Illinois launched the Illinois Mathematics and Science Academy (IMSA), which is recognized as the world's leading teaching and learning lab for imagination and inquiry, in collaboration with business, education, and science leaders. For 30 years, IMSA has pioneered the future of science, technology, engineering, and math (STEM) education through its two legislative charges: 1) to provide a uniquely challenging education for students talented in the areas of mathematics and science and 2) to stimulate further excellence for all Illinois schools in mathematics and science. IMSA champions these goals through:

New STEM teaching models: leading the charge to …

Social Entrepreneurship And Innovation Bus 304g, Andrée Rathemacher

Library Impact Statements

No abstract provided.

The Evolution Of Financing Structure In U.S. Startups, Carmen Cotei, Joseph Farhat

The Journal of Entrepreneurial Finance

In this article we examine how startup businesses finance their operations over time. We employ the Latent growth modeling technique to test the financial growth cycle theory developed by Berger and Udell (1998). The data used in this study is the Kauffman Firm Survey, the largest longitudinal data set comprised of a random sample of U.S. startups launched in 2004 and surveyed annually through 2011. Consistent with the predictions of financial growth cycle theory, in the startup stage, entrepreneurs rely on initial insider capital sources such as personal savings, financing offered by friends and family, quasi-equity, and personal debt. Over …

Value Added As The Tax Base For Enterprise Income, Nicos Zafiris

The Journal of Entrepreneurial Finance

The paper addresses the long standing asymmetry in the tax treatment of debt and equity costs through a direct comparison of two hypothetical regimes based exclusively on income taxation, broadly defined, and value added taxation. The model presented widens existing debate to encompass the choice between entrepreneurial and contractual use of inputs generally and including labour, as well as capital. Using representative functional forms and numerical illustrations the analysis explores the effect of the tax regimes on firm decisions concerning input selection, output level and vertical integration. The greater neutrality of value added taxation is shown to produce gains in …

Private Equity In Family Firms: Drivers Of The Willingness To Cede Control, Marisa Henn, Prof. Dr. Eva Lutz

The Journal of Entrepreneurial Finance

Our aim is to empirically examine how reasons for using private equity (PE) and prior experience with PE affect the willingness of privately held firms to cede company control. Based on a questionnaire entailing 75 privately held firms backed by PE, we show that family firms cede less control than non-family firms when entering a PE transaction. However, if firms seek funds due to challenges related to ownership changes, the difference between family firms and non-family firms decreases. Moreover, we find that family firms sell more company shares if they are run by a PE-experienced manager.

Returns To Tilapia Fish Farming In Ghana – Implications For Tilapia Pooled Investment Vehicles, Kwami Adanu, Mawufemor Adanu

The Journal of Entrepreneurial Finance

In Ghana, the private sector’s response to financing constraints associated with aquaculture investment has been to employ Pooled Investment Vehicles (PIVs). Unfortunately, several of these PIVs faced insolvency with huge losses to investors as returns promised investors turn out to be unrealizable. The premise of this study is that such insolvency problems occur mainly because of the lack of reliable data on likely returns and risk associated with Tilapia farm investments. This study improves on the “single value” profitability estimates of previous studies by performing Value at Risk (VaR) analyses on estimated farm-level returns, and 5,000 Monte Carlo simulation …

Risk Appetites And Empirical Survival Pattern Of Small And Medium Enterprises In Nigeria, Joshua S. Adeyele Dr., Osazee G. Omorokunwa Dr.

The Journal of Entrepreneurial Finance

ABSTRACT

Small and medium enterprises (SMEs) are vital to economic growth and development of a nation. However, many of them fail in the first five years of incorporation due to their exposures to risk financing and strategies employed to meet customers’ need during business shutdown. Hence, this study is designed to verify how SMEs’ risk financing affect their continuity, and to model their survival patterns in context of risk financing and risk management approach employed by the operators. Two hundred and nine copies of valid questionnaire distributed to the respondents were filled and returned. Cramer’s V and multiple regressions were …

Capital Markets Financing For Agricultural Business Development In Tanzania; A Case Of Cocoa Farming In Kyela And Rungwe Districts, Godfrey Frank Molela

The Journal of Entrepreneurial Finance

This study tries to explore the financing opportunity for smallholder cocoa farmers available at capital markets through enterprise growth market (EGM) financing window. The research findings from 122 cocoa farmers revealed that, in average a single cocoa farmer needed Tshs. 551,808.12 per acre as capital investment in a given season. At the time of data collection the cocoa prices at London and New York futures markets were Tshs. 6,266.75/Kg and Tshs. 6,148.62/Kg respectively at prevailed rates which were far above the production cost. In this case the envisaged gross margin was sufficient to service issuers’ interest of running their business …

Information Asymmetry And Adverse Wealth Effects Of Crowdfunding, Fathali Firoozi, Abol Jalilvand, Donald Lien

The Journal of Entrepreneurial Finance

The Jumpstart Our Business Startups (JOBS) Act of 2012 in the U.S. expanded the capital markets so that entrepreneurs can appeal directly to non-traditional small crowd investors for investment funds. The final rules and forms of the JOBS Act became effective in May 16, 2016. Existing literature is thus relatively small but contains ample praises for expected positive consequences of the new crowdfunding laws for the capital markets and for the crowd in general but has only limited analysis on the prospect of adverse wealth effects of crowdfunding for the crowd investors. A limited number of existing studies have highlighted …

Blue The Bee Learns To Be Happy, Connie Reimers-Hild, Deborah J. Weitzenkamp, Connie Reimers-Hild, Kim Wellsandt

Kimmel Education and Research Center: Faculty and Staff Publications

Do you sometimes feel sad or blue and don't know what to do? If so, this book was written just for you!

Join Blue the Bee as she travels through Happy Orchard meeting her friends (Flutter, Buzz, Bonita and Ernie) to learn the 7 Happiness Habits. When happiness is a habit, it comes without thinking. You can choose how to spend your day and use your time. You choose how to live your life and what is on your mind.

Each page was designed to enjoy at any age. People can become pollinators of happiness in any life stage!

This …

When The Going Gets Tough, The Tough Get Going, Antti Fredriksson, Daniela Maresch, Matthias Fink, Andrea Moro

The Journal of Entrepreneurial Finance

A bank’s lending decision is affected by the amount of information it can access and by its capability to manage this information. The latter aspect implies that the bank has to decide whether borrowers should be managed in a local branch of the bank or in its headquarters. By looking at a sample of Finnish banks, the present research investigates a bank’s capability to extract profitability from both locally and centrally managed firms. We find that banks are able to properly discriminate between firms: those which should be managed by loan managers with expert knowledge in the bank’s headquarters due …

The International Business Risk Of Terrorism: A Pragmatic Framework For Assessing Its Impact On The U.S.-Based, Small- To Medium-Sized Enterprise’S Supply Chain Operations, Scott A. Lemons

The Hilltop Review

Purpose - Subject paper examines the international business risk of terrorism’s impact on the focal firm’s supply chain operations, as proliferated by the acceleration of globalization, via a fundamental review of pertinent country- and firm-level considerations shaped by global environmental factors. Subsequently, a managerial risk assessment and mitigation planning framework is presented for the supply chain executive’s pragmatic use.

Design/methodology/approach – Broad evaluation of contemporary viewpoints precedes a risk assessment and mitigation planning framework from the supply chain executive’s point-of-view.

Findings – While observed research found the probability of the risk of terrorism to be low, the severity (impact) of …

Generation "P": Philippines' Millennial Impact Entrepreneurs, Jinky Tuliao, Zen Bin, Vivienne Zerrudo

Social Space

"Millennials"—broadly defined as those born between 1980 and 2000— are a dynamic driving force behind any country’s economic progress, but particularly so in the Philippines. Making up about 50 per cent of the national population, Philippine millennials are mainly employed in micro, small and medium enterprises (MSMEs), which in turn account for over 99 per cent of all local businesses.

Dental Practice Success Vol. 3 No. 4, American Dental Association, Publishing Division

Dental Practice Success

No abstract provided.

Understanding How Social Entrepreneurs Fit Into The Tourism Discourse, Ziene Mottiar, Karla Boluk

Books / Book chapters

This chapter discusses how social entrepreneurs fit into the existing tourism discourse. It examines four areas of literature in particular, tourism entrepreneurs, sustainability, destination development and intrapreneurship, and analyzes how introducing the concept of social entrepreneurs into these discussions is useful, and contributes to our understanding. Furthermore the paper illustrates that as social entrepreneurs are relevant to a broad range of issues in the tourism literature this should prevent the development of research silos where social entrepreneurship scholars seek out their own vein of research. The nexus of common ground and interests, as displayed in this chapter, should enhance the …

The Macro Behind Microfinance: Cambodia's Financial Inclusion Success Story, Jonathan Chang

Social Space

Financial inclusion refers to the delivery of affordable financial services to disadvantaged and low-income segments of society. However, as it also involves striking a fine balance between managing businesses’ credit risks and improving customers’ access to credit, different countries have made varied progress in their financial inclusion efforts. To date, across both developed and developing nations, SMEs and individuals still struggle in the face of limited access to adequate financing. Yet there is one country that has made considerable strides in this area: judging from the tremendous success of its microfinance sector, Cambodia seems to have found the sweet spot …

It Takes An Instigator, Vision And Passion, Promoting Health In Haiti: Developing A Partnership Between An Impoverished Nation And An Ngo To Develop Advanced Practice Nursing Education, A Case Study, Carol Roye Edd, Rn, Andrea Sonenberg Phd, Whnp, Cnm-Bc

Wilson Center for Social Entrepreneurship

Four nurse educators went to Haiti after the 2012 earthquake to help rebuild the School of Nursing in Port-au-Prince. They were alarmed by the low level of health care in Haiti. Most people have no care, and those that do are treated by nurses who are not trained to do so. This article details the steps the nurses went through to start a family nurse practitioner program in Haiti to address the need for primary care and discusses how they created the partnerships necessary to start such an innovative program at the University of Haiti.

Factors Affecting Access To Finance Of Small And Medium Enterprises (Smes) Of Bangladesh, Mohammed Chowdhury, Zahurul Alam

Graduate School of Business Publications and Research

This study addresses the issues that impede SMEs of Bangladesh in obtaining finance from the financial institutions. To accomplish our goals we collected data from a sample of 86 SMEs to investigate the problems and suggest policy recommendations. We collected data by directly interviewing the respondents with the help of a questionnaire for self-guidance. We also used secondary data for this purpose. Findings revealed that the size and age of the firms, education and skills of the owners, and unfavorable credit terms such as high interest rates, lack of collateral security, corruption by bank officials etc. are some of the …

High Performance Work Systems: A Necessity For Startups, Josh Bendickson, Jeffery Muldoon, Eric Liguori, Chelsea Midgett

Rohrer College of Business Departmental Research

New businesses are an important part of any economy, yet the key elements to achieve startup success are often unclear or up for debate. Attracting, selecting, and training employees are often critical activities for most startups. Research suggests that high performance work systems (i.e., a bundle of human resource practices) enhance organizational performance. However, we posit that most startups lack these systems at the onset, yet with minimal effort can establish a system to improve their likelihood of meeting their goals, enhancing capabilities, and ensuring long-term survival.

Feasibility Analysis For The New Venture Nonprofit Enterprise, Gregory R. Berry

New England Journal of Entrepreneurship

This article explores the value of feasibility analysis for the pre-launch nonprofit enterprise. Similarities and differences between for-profit entrepreneurial ventures and nonprofit entrepreneurial ventures are outlined, and then the traditional format of feasibility analysis used by the entrepreneurial for-profit start-up is reviewed and analyzed. This four-stage analysis is then adapted to the needs of the nonprofit new venture enterprise. The benefits of doing a feasibility analysis for the nonprofit enterprise start-up are identified, and guidelines are suggested. An underpopulated research stream is identified and explained in this article for the start-up and early developmental phases of the nonprofit enterprise.

New England Journal Of Entrepreneurship, Fall/Winter 2017

New England Journal of Entrepreneurship

No abstract provided.

The Viability Of Profit-Loss Sharing Models To Finance Small And Medium Enterprises: The Case Of Saudi Arabia, Alhanoof Alghamdi

Electronic Theses and Dissertations

This study aims to explore the role of profit-loss sharing (PLS) models to alleviate access to finance for small and medium enterprises in Saudi Arabia, in the light of the stringent requirements of traditional financial institutions, to ensure the growth and development of the SME sector. A central question of this study is the extent to which Islamic banks can adopt profit-loss sharing modes to finance SMEs. The main results present the barriers preventing Islamic banks from the application of profit-loss sharing that increase incidence of agency problems for such institutions. High asymmetry of information and the nature of Islamic …

The Economic Impact Of The Marine Leisure Industry On Cork Harbour, Aisling Conway Lenihan, Helen Mcguirk

Publications

This report, commissioned by the Cool Route Project,presents the economic impact of the Marine Leisure Industry in Cork Harbour. The Cool Route Project, funded byInterreg VB1funding, “investigates all aspects of the practical logistics and business potential to establish a bi-directional yacht cruising route along the western offshore areas of the Northern Periphery Area, stretching from Co. Cork in the South of Ireland, to the UK (Northern Ireland and Western Scotland) and onwards to the Faroe Islands and Norway”(Cool Route 2017).Led by theCork Institute of Technology (CIT), the Project partners, also include the Royal Cork Yacht Club, Donegal County Council, Derry …

Food Tourism In Cork’S English Market - An Authentic Visitor Experience, Lisa O'Riordan, Prof. Margaret Linehan, Aisling Ward

Irish Business Journal

Authenticity is deemed to be a crucial element in many tourism experiences. Tourism, however, is often accused of succumbing to notions of perceived authenticity to ensure commercial success, leading to misrepresentations of cultures. Food tourism, conversely, is advocated as a means of encountering genuine culture, history and lifestyle. This paper investigates the role of food tourism as an authentic representation of culture in Cork’s English Market. In-depth interviews were conducted with market traders and analysed through the grounded theory method. Results indicate that, allowing for natural evolution, food tourism is providing a platform for the continuation, sharing and development of …

Marketing Strategies Of Mobile Game Application Entrepreneurs, Talaya C. Waller, Robert J. Hockin, Gina S. Smith

International Journal of Applied Management and Technology

Mobile game application entrepreneurs can offer many benefits to the U.S. economy; however, 80% of the entrepreneurs in this study stated that marketing their mobile applications was a major business challenge. Based on Schumpeter’s theory of economic development and new value creation of technological innovation, the purpose of this phenomenological study was to explore the strategies that entrepreneurs have used to market their mobile game application development businesses successfully. Twenty mobile game application entrepreneurs from northern California, who successfully sustained their businesses for 3 or more years, completed semistructured interviews. Moustakas' modified van Kaam method was used and included coding …

Start-Up Funding Via Equity Crowdfunding In Germany – A Qualitative Analysis Of Success Factors, Martin Angerer, Alexander Brem, Sascha Kraus, Andreas Peter

The Journal of Entrepreneurial Finance

Entrepreneurs often struggle to find sufficient funding for their start-ups. A relatively new way for companies to attract capital is via an internet platform, locating investors who in return receive something in return for their ventures. Equity crowdfunding is one of several types of crowdfunding, and is also known as crowdinvesting in the German-speaking realm. This article predominantly advances the scientific knowledge regarding the success factors of equity crowdfunding for German start-ups. The study conducted nine qualitative interviews with start-ups and crowdinvesting platforms. Its first result is that German start-ups select crowdinvesting because (1) it is a funding opportunity and …

2017 Updated Tables And Charts For Ec 845 Nebraska Cash Soybean Prices And Basis Patterns, Cory Walters, Jessica J. Groskopf

Extension Farm and Ranch Management News

No abstract provided.

2017 Updated Tables And Figures For Ec 846 Nebraska Cash Corn Prices And Basis Patterns, Cory Walters, Jessica J. Groskopf

Extension Farm and Ranch Management News

No abstract provided.

Corporate Social Responsibility Report Narratives And Analyst Forecast Accuracy, Volkan Muslu, Sunay Mutlu, Suresh Radhakrishnan, Albert Tsang

Faculty Articles

Standalone corporate social responsibility (CSR) reports vary considerably in the content of information released due to their voluntary nature. In this study, we develop a disclosure score based on the tone, readability, length, and the numerical and horizon content of CSR report narratives, and examine the relationship between the CSR disclosure scores and analyst forecasts. We find that CSR reporters with high disclosure scores are associated with more accurate forecasts, whereas low score CSR reporters are not associated with more accurate forecasts than firms who do not issue CSR reports. The findings are robust to controlling for firm characteristics including …