Business Commons^™

Social Capital, Firm Performance, Operating Business Environment, Salome Kanini Kaberia, Stephen M. Muathe Dr., Hannah Bula

The Journal of Entrepreneurial Finance

Globally, manufacturing sector is recognized as a key driver of economic development. Kenya’s manufacturing sector has been no exception; with a contribution of 10% to gross domestic product for the duration 2008 to 2014. However, records reveal that in 2017, 2018 and 2019, the contribution deteriorated to 8.4%, 7.7% and 7.54% respectively, suggesting a possible premature de-industrialization. Should this trend persist, Kenya’s goal of achieving a robust manufacturing sector through the Big Four Agenda may not be achieved. While the government has implemented strategies and interventions to boost the sector, these do not seem to reverse the trend. It is …

The Economic Crisis Index Quarterly Newsletter, Darrol J. Stanley, Donald M. Atwater

Graziadio Working Paper Series

This is the first issue of a quarterly newsletter publication that will update the Economic Crisis Index ™. This issue explains in detail the methodology of the Economic Crisis Index (ECI) and its comparison to other similar indices. Future newsletters will center on the ECI number and its implication to the American economy. These newsletters will be posted on the Pepperdine University Digital Commons.

Unmasking The Tipping Point For The Next U.S. Financial Crisis, Darrol J. Stanley, Donald M. Atwater

Graziadio Working Paper Series

The risks of the next U.S. Financial Crisis are increasing. Many Americans are fearful of the very negative financial impact of the next crisis especially since it could occur so soon after the negative impact of the Covid Pandemic on the economy. Financial safety nets are weak. The scope of the crisis includes decreasing values of assets, a recession caused by government policies, decreases in the value of existing bonds, and significant social stress fueled by political polarization after the 2022 midterm elections. We believe the solution to the fear begins with knowledge and a logical approach to assess key …

An Analysis Of Selling Concessions, Reallowance Fees, And Price Changes In The Marketing Of Ipos, James C. Brau, Joseph J. Henry

The Journal of Entrepreneurial Finance

This paper provides an economic model resulting in two distinct marketing strategies available to investment bankers. First, we hypothesize that an increased selling effort by brokers is used most effectively when the investment clientele is uninformed. Second, adjusting the offer price of the issue is hypothesized to be employed primarily in large IPOs with a clientele of sophisticated investors, consistent with Shiller’s Impresario Hypothesis. Our pre-IPO bubble (1981-1996) empirical results yield evidence supporting both selling mechanisms. Under-demanded small IPO issues are ‘pushed’ by the brokers, while some under-demanded large IPO issues instead increase the offer price, with large first-day turnover …

Product Search Algorithm Based On Improved Ant Colony Optimization In A Distributed Network, Zhishuo Liu, Fang Tian, Lida Li, Zhuonan Han, Yuqing Li

All Faculty Open Access Publications

The crowd intelligence-based e-commerce transaction network (CIeTN) is a distributed and unstructured network structure. Smart individuals, such as buyers, sellers, and third-party organizations, can store information in local nodes and connect and share information via moments. The purpose of this study is to design a product search algorithm on the basis of ant colony optimization (ACO) to achieve an efficient and accurate search for the product demand of a node in the network. We introduce the improved ideas of maximum and minimum ants to design a set of heuristic search algorithms on the basis of ACO. To reduce search blindness, …

Legal And Ethical Considerations For Public Relations Book Review, Alan K. Caldwell

Pepperdine Journal of Communication Research

Book review and analysis of the strengths and gaps in the content of Legal and Ethical Considerations for Public Relations by Karla K. Gower.

The Entrenchment Of The Ideal Worker Norm During The Covid-19 Pandemic: Evidence From Working Mothers In The U.S., Mona Zanhour, Dana Sumpter

All Faculty Open Access Publications

We study shifts in the ideal worker culture as experienced by working mothers across organizations in the United States during the Covid-19 pandemic. Based on the experiences of 53 interviewees in how they attended to increased responsibilities across both work and family domains, we saw an entrenchment of the ideal worker culture across nearly all organizations and professions. This manifested in three levels, as (1) a reinforced ideal worker culture in the workplace through work-intensification, increased competitiveness, and surface-level support; (2) the reinforcing of organizations’ ideal worker norms at home, with gendered division of space and labor, and (3) experienced …

The Paradoxical Effects Of Covid-19 Event Strength On Employee Turnover Intention, Hui Deng, Wenbing Wu, Yihua Zhang, Xiaoyan Zhang, Jing Ni

All Faculty Open Access Publications

As a global pandemic, the novel coronavirus (COVID-19) has brought enormous challenges to employees and organizations. Although numerous existing studies have highlighted that the COVID-19 pandemic is a stressful event and empirically proved its detrimental effect on employee turnover intention, few scholars have noted that this pandemic can deteriorate the external economic and employment environment simultaneously, which may further complicate employees’ intentions to leave or stay in the current organization. Drawing on event system theory and social cognitive theory, this study aims to uncover two potential cognitive mechanisms of the complex impact of COVID-19 event strength on employee turnover intention. …

Culture: The Key To Shifting Your Organization During Post-Pandemic, Qiang Qiang

The Scholarship Without Borders Journal

Organizations are facing challenges and obstacles caused by COVID-19. After widespread vaccines, lifestyle became normal and entered the post-pandemic era. Organizational culture is the key that organizations shift during the post-pandemic. In this article, there are three recommendations that the organization can think of to make cultural changes effectively. First, the organization needs to assess and diagnose if it is an agile organization. Second, Lewin’s change model and the MCR framework can help the organization manage the changing process. Last, leadership is the key to ensuring the change is in the right direction. The leadership discussion focuses on evolutionary leadership …

The Impact Of Entrepreneurship Education On The Entrepreneurial Intention Of Students At The International University Of Excellence In Mali: An Exploratory Study, Boubacar Sanogo, Oumar Bah, Amara Nimaga

The Journal of Entrepreneurial Finance

This paper is research devoted to the self-employment of students of the International University of Excellence of Bamako through the teaching of entrepreneurship as a factor in the development of entrepreneurial intention among students in training. This choice is explained by several factors: the State's recruitment capacities in the public service are limited; the modern private sector which constitutes the natural outlet for young graduates is not in a position to offer employment for the many promotions of students trained annually who constitute thousands of people who increase the non-working population. It is becoming necessary to put in place systems …

Theme: Explanatory Factors Of The Entrepreneurial Intention Of University Students In Mali, Ousmane Mariko, Mahamadi Gaba

The Journal of Entrepreneurial Finance

Graduate unemployment remains a concern for many African countries. However, in recent years there has been a growing interest in entrepreneurship among young people. The objective of this research is to study the entrepreneurial motivation of young graduates. Through primary data collected from students of the FSEG's entrepreneurial bachelor's degree programme and using a multiple linear regression model, it was found that: attitudes associated with behaviours have a positive and significant impact on the decision to become an entrepreneur. Social norms are determining factors in the explanation of entrepreneurial intention and finally, factors associated with perceived control contribute significantly to …

The Determinants Of Banking Regulation In The Mena Region, Hanene Ksiaa Dr, Mohamed Imen Gallali Professor

The Journal of Entrepreneurial Finance

Theoretical foundations in banks' response to capital settlement suggest that the systems proposed by Basel are not sound. It is conceivable that regulators will consider alternative approaches to enhance the safety and soundness of the banking system. The regulation includes several decrees and ratios; the areas of interest encompassing the areas are subject to principal component analysis (PCA).The paper aims to present a regulatory framework based on balance sheet ratios, such as Capital requirements (equity ratio; Tier 1 ratio; Total Equity/Net Loans; Total Equity/Deposits); for liquidity needs (liquidity/deposits; liquidity/total assets; liquidity/deposits and loans, and net loans/total assets); for leverage requirements …

Determinants Of The Adoption Of Islamic Finance By Cameroonian Smes: Case Study From A Psycho-Sociological Characteristics Of Managers, Jérôme Gonne, Yaouba Mohamadou

The Journal of Entrepreneurial Finance

Small and Medium-Sized Enterprises (SMEs) today form the backbone of the African economy in general and Cameroon in particular. However, Cameroonian SMEs encounter many difficulties, one of the most important is the access to so-called conventional financing. Faced with this situation, some of them will seek alternative means such as Islamic finance. Despite its development over the past two decades, Islamic finance is struggling to find a place in the financial decisions of Cameroonian SMEs’ Managers. This study aims at highlighting the psycho-sociological characteristics of policymakers in directing their decision towards the Islamic finance product. Data collected from a sample …

Financial Inclusion And Gender Income Inequalities In Informal Entrepreneurship: The Case Of Cameroon, Faustine Kede Ndouna, Félix Zogning

The Journal of Entrepreneurial Finance

The purpose of this study is to analyze the effect of access to different financial products in reducing income inequalities between men and women working in the informal sector in Cameroon. To this end, we use the World Bank database World Bank Global Financial Inclusion (Global Findex) dataset 2018 to assess the evolution of access to financial services through a descriptive analysis and the fourth Cameroonian survey conducted by the National Institute of Statistics in 2014 to estimate a probit model and a Fairlie decomposition model. Empirical results suggest that indeed, income inequality between the sexes continues to increase in …

Effects Of Access To Credit On The Performance Of Smes In The Congo, Fabrice-Gilles Ndombi Avouba

The Journal of Entrepreneurial Finance

This paper proposes to analyze the effects of access to credit on the performance of SMEs in Congo. To this end, we used the theoretical model developed by Stiglitz and Weiss (1981). From an econometric point of view, we estimated a multiple linear regression model using the ordinary least square technique due to the absence of endogeneity. This application, as well as the statistical and econometric analyses that followed, were carried out using microeconomic data from the survey of very small, small, medium-sized enterprises and artisans in the Congo, which was carried out thanks to the multiple contributions of the …

Psychological Profile Of The Leader And Investment Decision Practice Of The Small And Medium-Sized Enterprise (Sme) In The Context Of The Covid-19 Crisis In Ivory Coast, Bassife Ouattara

The Journal of Entrepreneurial Finance

This article examines the different investment decision practices of the leader of small and medium-sized enterprises (SMEs) during the COVID-19 health crisis and highlights the influence of the leader's psychological profile on these practices. Thus, primary data was collected from the interview guide and questionnaires submitted to 112 executives. The results obtained through the tests indicate the existence of a direct link (significant influence) between certain psychological profiles of the leader and investment decision-making practices in times of crisis.

2022 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 …

The Impact Of Financial Crisis On Mfis Performance In Zimbabwe, Patience Hlupo Ms, Tafadzwa Mukute Mr, Tough Chinoda Ph.D., Edson Chagwedera Mr

The Journal of Entrepreneurial Finance

Our study explores the impact financial crisis has on performance of microfinance institutions in Zimbabwe employing the Vector Autoregression using annual time series data from 1990 to 2018. The findings from our study revealed a positive impact of financial crisis on performance of Microfinance Institutions. We also found a positive effect of gross domestic product, money supply, the first lag of inflation and exchange rates on microfinance institutions performance while the second lag of inflation has a negative effect. Variance decomposition results reveal an increasing long run positive effect of financial crisis on performance is increasing. From impulse response analysis, …

Financial Literacy And Consumer Protection: A Road Map To Digital Financial Access By Smes In Kenya, Salome M. Musau Dr., Stephen M. Muathe Dr., Lucy W. Mwangi Dr.

The Journal of Entrepreneurial Finance

This paper seeks to ascertain the influence of financial literacy and financial consumer protection on digital financial access. The objectives of the study were to find out the effect of financial literacy on digital monetary access, and to find out the effect of f consumer financial protection on digital access of finances of SMEs in Sub County of Ruiru in County government of Kiambu, Kenya. Financial Literacy Theory, Information Asymmetry Theory and Social Learning Theory are the theories that guided formulation of study’s objectives. Descriptive research design was used with the population of interest comprising of all SMEs owners in …

Employee-Friendly Practices And Innovation, Saeyoung Chang, Hoje Jo, Jo-Ellen Pozner

The Journal of Entrepreneurial Finance

We examine the inter-relationships among employee-friendly policies (EFP), innovation through R&D investment, and firm value. We hypothesize that firms with higher levels of innovation and entrepreneurial spirit are more likely to utilize EFP. Furthermore, we speculate that the value-EFP association is more pronounced in firms with high R&D intensity. Consistent with these assertions, we find that EFP is significantly and positively related to R&D investment and the number of patents. EFP is also associated with increased firm value at high levels of R&D investment and high numbers of patents. Furthermore, we find that firms investing more in R&D are more …

It’S About Time: Understanding Job Crafting Through The Lens Of Individuals’ Temporal Characteristics, Hannah Weisman, Uta K. Bindl, Cristina B. Gibson, Kerrie L. Unsworth

All Faculty Open Access Publications

Job crafting refers to the myriad ways employees customize their jobs, such as by altering their tasks and social interaction at work. Numerous scholars over the past 20 years have remarked on the overall need to better understand the role of time in job crafting. However, the literature has not considered how employees think about time, or, relatedly, how they use and manage it—and why this might matter for job crafting. To address these unresolved issues, the current paper develops a conceptual model of individual-level, time-related characteristics that shape employees’ engagement in job crafting and the effects of job crafting …

Undoing Performance In Micro Finance Institutions: Reflections On Regulatory Framework In Kenya, Victor Muithya

The Journal of Entrepreneurial Finance

The performance of Micro Finance Institutions (MFIs) has been affected negatively by the current hypercompetitive economic environment which has beencharacterised by as unfair competition. Huge losses have been reported among MFIs in Kenya, this has forced MFIs to innovate differently; product, financial, organisational or market innovation. This has not yielded better results. The study sought to establish the moderating effect of the regulatory framework on the relationship between strategic innovation orientation and performance of MFIs using the case of Kenya. The indicators for the regulatory framework were; prudential guidelines, non-prudential guidelines, and government laws. A …

The Role Of Politics And Corruption In The Rise Of The African Firm, Wedu Ketema, Howard Jean-Denis

Seaver College Research And Scholarly Achievement Symposium

Many African businesses lag in financial performance compared to the performance of companies in the West. Despite this, the continent’s economic output has continued to rise considerably in the past two decades, but many of these economic achievements have been discredited. Despite the West’s view of Africa as a continent unprepared for economic growth due to simmering conflict, threats of terror, and other barriers to business, African business has continued to boom. Over the past two decades, Africa has made massive strides to “catch up to the West.” In fact, according to experts, many countries in Africa have experienced what …

Microfinance Services And Government Regulations: Reflections On Performance Of Small Holder Coffee Entrepreneurs In Uganda, Mary Juliet Nakabugo, Stephen Muathe, Evans Mwasiaji

The Journal of Entrepreneurial Finance

Small-scale enterprises are lauded around the world for their contribution to economic development. Resources and capabilities play an important role as accelerators of entrepreneurial activity and also increase enterprise performance. This research strived to understand how Microfinance services affect the performance of smallholder coffee entrepreneurs but also examine government regulations as a moderating variable for the association between microfinance and the performance of smallholder coffee entrepreneurs. The study was guided by the resource-based view supported by dynamic capability and contingency theories. Data on 400 Ugandan coffee entrepreneurs was gathered and statistically tested using a multiple linear regression model. Study scores …

Pandemic As Panacea: The Positive Long-Term Impact Of Forced Innovation In The Legal Industry, J. Mark Phillips

The Journal of Business, Entrepreneurship & the Law

Despite the untold disruption the COVID-19 pandemic continues to inflict upon the legal industry, several positive outcomes may ultimately emerge. These unexpected gains may not only improve the practice of law but also address long-standing weaknesses in the industry. In this article, I utilize Roger’s Innovation Diffusion model to shed preliminary light on the unprecedented phenomenon of forced, comprehensive, and immediate adoption of new technology throughout the legal industry. While doing so, I highlight the way this sudden adoption will likely change perceptions regarding perennial areas of tension, such as mental health and work-life balance. Finally, I argue that the …

Shareholder Activism & Departure From Board Centrism: Beware Of Federal Government’S Intervention, Artur Aziev

The Journal of Business, Entrepreneurship & the Law

No abstract provided.

How The Subprime Mortgage Crisis Sparked New Legislation And Changed The Way Millennials Purchase Real Estate, Troy T. Kramer

The Journal of Business, Entrepreneurship & the Law

This article will explore the Generation Y's approach to the real estate market and analyze how the Subprime Mortgage Crisis stunted Millennials’ economic development. It also analyzes what ways legislation has changed and government has influenced the economy since 2008 to prevent another free fall of the global economy and to protect consumers from predatory lending practices and under-regulation of the financial sector. Further, this article will analyze how Millennials differ from previous generations in their method of purchasing homes and investing in real estate—with a specific eye towards advances in technology. This article also gives advice to first-time homebuyers …

The Impact Of Assets Structure And The Components Of Cash Conversion Cycle On The Egyptian Smes Financial Failure Predictability, Dr. Hassan Mounir El-Sady, Hatem Ahmed, Dr. Hosny Hamdy

The Journal of Entrepreneurial Finance

This study investigates determinants of Egyptian SMEs financial failure predictability based on a sample of 32 failure SMEs and 28 non-failure SMEs for the period 2013 and 2019. The determinants of SMEs financial failure are categorized into four groups; Working Capital, Asset Structure, Liquidity, and Leverage. The factor and logistic regression analysis are employed to identify the most significant independent variables that classify between failure and none-failure Egyptian’s SMEs and determine the driver of SMEs financial failure. Our findings significantly show that failing SMEs suffer from long cash conversion cycles resulting from long inventory holding period, average collection period, and …

When The Social Networks And Internet Come To The Rescue Of Entrepreneurs: The Problematic Of Crowdfunding In Africa, Omenguele Rene Guy, Mbouolang Yimpi Cedric

The Journal of Entrepreneurial Finance

Since 2007, crowdfunding platforms have abounded on the web. It is estimated at 2.5 billion dollars the potential of the crowdfunding market in sub-Saharan Africa by 2025. The objective of this paper is to make an inventory of Crowdfunding activities in Africa, region with a most restrictive access to bank loan by SMEs, start-ups and young entrepreneurs. It appears from the economic and socio-cultural realities that Africa is a region with more potential catalyst for crowdfunding industry takeoff. However, there are many factors which are presented in this study as potential inhibitors of African CF market competiveness. This study has …

The Covid-19 Pandemic And The Importance Of Financing The Biotechnology Industry In South Africa, Ramazan Uctu, Karen Eksteen

The Journal of Entrepreneurial Finance

Whether it is a government research institution, a public-private partnership, or a private enterprise, the South African biotechnology industry requires funding for the biotechnology industry. Our goal with this research is to look into the role of venture capital (VC) in financing biotech enterprises and demonstrate how VC finance could aid in the development of diagnostic kits and vaccines for Covid-19 or future pandemics in South Africa.

The study aims to provide policymakers with a clear image of the importance of funding the biotechnology sector, notably during the Covid-19 period, as recognized by the industry's key players. We employed a …