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Full-Text Articles in Finance and Financial Management

2016 Q1 Private Capital Access Index Report, Craig R. Everett Feb 2016

2016 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.


Risk Management In The Venture Capital Industry: Managing Risk In Portfolio Companies, Dorian Proksch, Wiebke Stranz, Andreas Pinkwart, Michael Schefczyk Jan 2016

Risk Management In The Venture Capital Industry: Managing Risk In Portfolio Companies, Dorian Proksch, Wiebke Stranz, Andreas Pinkwart, Michael Schefczyk

The Journal of Entrepreneurial Finance

Managing risk is one of the main activities of venture capital companies. Despite the fact that this topic is of high practical relevance, only little research was published on risk management performed by venture capital companies in their ventures. Hence, we conducted a structured literature review which was the basis for developing five hypotheses concerning measures to decrease failure risk in venture capital-backed ventures. We tested these hypotheses with an empirical data set of 93 venture capital-backed ventures in Germany using original deal data from nine different venture capital funds using a structural equation model. We showed that the experience …


Micro-Loans: A Socially Responsible Corporate Investment, Olivia D. Marshall Jan 2016

Micro-Loans: A Socially Responsible Corporate Investment, Olivia D. Marshall

Senior Honors Theses

This thesis seeks to examine the socially responsible actions of corporations across America in the funding of micro-financing endeavors both of foreign and domestic intent as a means to alleviate poverty. Micro-loans are examined in light of the history of corporate social responsibility and the magnitude of impoverishment across the globe. The overarching purpose of this paper stands to prove that funding micro-loans is a sufficient means of acting socially responsible for corporations nationwide as a sustainable solution to poverty.


Quantifying A Mining Investability Quotient To Mitigate Junior Mining Investment Risk, Jonathan Mickey Merguerian Jan 2016

Quantifying A Mining Investability Quotient To Mitigate Junior Mining Investment Risk, Jonathan Mickey Merguerian

Open Access Theses & Dissertations

Uncertainty and risk are inherent features of investing in mineral exploration ventures. Investors rely on qualitative and quantitative analysis to evaluate risk of capital. The distinction between risk and uncertainty pertaining to mineral exploration is that risk is an opportunity for loss and uncertainty can be described as the range of probabilities that some condition may occur (Rose, 1987). Stakeholders rely on a combination of investment conferences, risk analysis equations, press releases, financial reports, and investment research to determine if an investment potential. J. M. Cozzolini developed a formula for Risk Adjusted Value (RAV) of an exploration venture. The study …


The Effects Of Using Invoice Factoring To Fund A Small Business, Ivan Justin Salaberrios Jan 2016

The Effects Of Using Invoice Factoring To Fund A Small Business, Ivan Justin Salaberrios

Walden Dissertations and Doctoral Studies

Small business owners often do not possess the financial literacy to implement invoice factoring to fund their business. Despite that lack of knowledge, an increasing number of small business owners are using invoice factoring as their primary source of funding. Guided by a systems thinking approach, the purpose of this exploratory multiple case study was to understand the effect of invoice factoring of 5 small business owners, 5 small business finance managers, and 5 factoring program managers, all of whom managed factoring programs and technical services companies with less than $3 million in annual revenues. Participants were located in 6 …


2015 Q4 Market Pulse Report, Craig R. Everett Dec 2015

2015 Q4 Market Pulse Report, Craig R. Everett

Pepperdine Market Pulse Report

The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). The national survey was conducted with the intent of providing a valuable resource to business owners and their advisors. The IBBA and M&A Source present the Market Pulse Survey with the support of the Pepperdine Private Capital Markets Project and the Graziado School of Business and Management at Pepperdine University.


Pricing Disintermediation: Crowdfunding And Online Auction Ipos, A. Christine Hurt Dec 2015

Pricing Disintermediation: Crowdfunding And Online Auction Ipos, A. Christine Hurt

Faculty Scholarship

No abstract provided.


Pubhub: A Mobile Application Business Plan, Zachary T. Washam Dec 2015

Pubhub: A Mobile Application Business Plan, Zachary T. Washam

Finance Undergraduate Honors Theses

PubHub is a mobile application designed to address point-of-sale inefficiencies at bars. This business plan details our strategy for product design, marketing, financing, and eventual acquisition. We address key legal and competitive risks and project five years of pro-forma financial statements based on comparable firms.


2015 Q3 Market Pulse Report, Craig R. Everett Nov 2015

2015 Q3 Market Pulse Report, Craig R. Everett

Pepperdine Market Pulse Report

The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). The national survey was conducted with the intent of providing a valuable resource to business owners and their advisors. The IBBA and M&A Source present the Market Pulse Survey with the support of the Pepperdine Private Capital Markets Project and the Graziado School of Business and Management at Pepperdine University.


2015 Q4 Private Capital Access Index Report, Craig R. Everett Nov 2015

2015 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 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 mediumsized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


Business Framing For Analytics, Beverly Wright Sep 2015

Business Framing For Analytics, Beverly Wright

Atlantic Marketing Association Proceedings

Both the academic and business practitioner communities are faced with the challenges of discovery, innovation, and constant learning of their field, particularly within the marketing discipline, where content, processes, and even structure are dynamic in nature, with constantly evolving interests and focus. A solid research agenda with excellent analytics to address pertinent business questions is crucial for successfully expanding our understanding of the marketing function.


A Research Note On Street Pricing Requirements In Major U.S. Airport Retail Concessions Requests For Proposals, Blaise Waguespack Sep 2015

A Research Note On Street Pricing Requirements In Major U.S. Airport Retail Concessions Requests For Proposals, Blaise Waguespack

Atlantic Marketing Association Proceedings

When reviewing the subject of airport marketing, much of the literature is broken down into issues external or internal to the airport. The external literature tends to divide and differentiate airports on the issues of size (passenger counts) and who is the target of the marketing campaign. Those articles and books that tend to focus on the larger commercial airports (Jarach, 2005; Halpern and Graham, 2013) note the role the airport can play in economic development. Much of the external marketing tasks for the larger commercial airports are aimed at either attracting more airline service to the community or working …


Rembrandt Versus Van Gogh: A Qualitative Contrast Study Applying A Visual Arts Valutation Model, Rene Desborde, Kimball P. Marshall Sep 2015

Rembrandt Versus Van Gogh: A Qualitative Contrast Study Applying A Visual Arts Valutation Model, Rene Desborde, Kimball P. Marshall

Atlantic Marketing Association Proceedings

Few marketing scholars have explored the field of fine arts marketing despite its significance as an area of economic activity and human creativity. Billions of dollars change hands annually in the worldwide visual fine arts industry (Velthuis, 2007; Clark and Flaherty, 2002), defined here to include various paintings, sculptures, and ceramics. This lack of academic attention might be because marketing scholars perceive that issues related to fine arts have little to do with marketing. It could also be that the unique characteristics of fine arts marketing are thought not to lend themselves to a traditional analytical approach to explain a …


Perceived Risk Reduction In E-Commerce Environments, C. Michael Powell, Chris Conca Sep 2015

Perceived Risk Reduction In E-Commerce Environments, C. Michael Powell, Chris Conca

Atlantic Marketing Association Proceedings

During the past three decades, the growth of e-commerce has presented marketers with many new arenas for research and application. Certainly e-commerce has become a significant portion of the world economy and in particular the consumer sector. As previous literature has consistently considered perceived risk as a major factor consumer purchase decisions, this research identifies several major components of consumer perceived risk (PR) and their normative implications in the e-commerce environment


2015 Q2 Market Pulse Report, Craig R. Everett Sep 2015

2015 Q2 Market Pulse Report, Craig R. Everett

Pepperdine Market Pulse Report

The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). The national survey was conducted with the intent of providing a valuable resource to business owners and their advisors. The IBBA and M&A Source present the Market Pulse Survey with the support of the Pepperdine Private Capital Markets Project and the Graziado School of Business and Management at Pepperdine University.


2015 Q3 Private Capital Access Index Report, Craig R. Everett Jul 2015

2015 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 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 mediumsized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


Pass-Through Valuation, Robert M. Hull, David P. Price Jul 2015

Pass-Through Valuation, Robert M. Hull, David P. Price

The Journal of Entrepreneurial Finance

Noted scholars argue that (1) economic models of capital taxation have been inadequately adapted to owner-managed enterprises and (2) capital structure researchers have used the wrong models while also improperly measuring key variables. Thus, a model that can overcome these problems should be of interest to academics when teaching capital structure theory and practitioners when determining optimal debt levels. This paper contributes to capital structure practice by using a model that is adaptable to owner-managed enterprises like pass-throughs while also containing relevant variables that are measurable. This paper should be valuable to academics and practitioners in the following ways. First, …


2015 Q1 Market Pulse Report, Craig R. Everett May 2015

2015 Q1 Market Pulse Report, Craig R. Everett

Pepperdine Market Pulse Report

The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). The national survey was conducted with the intent of providing a valuable resource to business owners and their advisors. The IBBA and M&A Source present the Market Pulse Survey with the support of the Pepperdine Private Capital Markets Project and the Graziado School of Business and Management at Pepperdine University.


2015 Q2 Private Capital Access Index Report, Craig R. Everett May 2015

2015 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 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 mediumsized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


2015 Q1 Private Capital Access Index Report, Craig R. Everett Feb 2015

2015 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 mediumsized businesses for financing needs, the level of accessibility of private capital, and the transparency and efficiency of private financing markets.


Are The Parents To Blame? Predicting Franchisee Failure, Ilan Alon, Michèle Boulanger, Everlyne Misati, Melih Madanoglu Jan 2015

Are The Parents To Blame? Predicting Franchisee Failure, Ilan Alon, Michèle Boulanger, Everlyne Misati, Melih Madanoglu

Faculty Publications

The Small Business Administration (SBA) supports franchising by backing up loans issued by regular lending organizations. However, the SBA does not directly consider firm strategies as part of its lending process. To appreciate how franchisor characteristics influence franchisee failure, we developed a heuristic model using the methodology and power of predictive analytics. We use multi-year data from the World Franchising Council’s surveys on franchisors’ characteristics and from the SBA on franchisee loan defaults. The data cover 271 diverse US franchise chains that are present in both databases. Our model predicts potential defaults of SBA-backed loans issued to American franchisees and …


Success Factors Of Small Business Owners Of Independent Financial Planning Firms, Joanne Snider Jan 2015

Success Factors Of Small Business Owners Of Independent Financial Planning Firms, Joanne Snider

2010-2016 Archived Posters

Small Business Administration (SBA, 2014) statistics indicate 20% of small businesses fail within 2 years and 50% fail within 5 years. Interviews with 12 successful small business owners of independent financial planning firms revealed these success factors: (a) training in business operations, (b) business differentiation, and (c) website marketing.


Suitable Financing: A High-Tech Semiconductor (Photonics) Start-Up Context, Sarkar Mahbub Akhter Jan 2015

Suitable Financing: A High-Tech Semiconductor (Photonics) Start-Up Context, Sarkar Mahbub Akhter

Theses

This research investigates the financing options available to a "High-Tech Start-up" when a technical person seeks to start a business from innovations emerging from his or her daily work. In seeking to understand the different factors which might influence the choice of a particular type of financial source, firstly a thorough literature survey has been performed. In the main part of the study, a qualitative research approach was considered to be the most appropriate one and as part of it, a number of interviews with entrepreneurs, CEOs and CTOs have been conducted. Findings from these people with financial experiences are …


Success Factors Of Small Business Owners Of Independent Financial Planning Firms, Joanne Snider Jan 2015

Success Factors Of Small Business Owners Of Independent Financial Planning Firms, Joanne Snider

Walden Dissertations and Doctoral Studies

Small Business Administration statistics indicate that 20% of small businesses fail within the first 2 years and 50% fail within 5 years. The purpose of this case study was to explore the success factors and strategies of 12 small business owners of independent financial planning firms who achieved profitability beyond 5 years. A gap exists in the literature concerning such business owners, and their experiences provide valuable information to others desiring to start or maintain a financial planning business. The conceptual framework was entrepreneurship theory and Porter's 5 forces model of competitive strategy. The data were gathered via semistructured interviews …


Retail Distribution Within The New York City Organic Cacao Market, Omari Nekoro Williams Jan 2015

Retail Distribution Within The New York City Organic Cacao Market, Omari Nekoro Williams

Walden Dissertations and Doctoral Studies

The purpose of this multiple case study was to explore strategies small physical commodities firm owners need to establish a distribution channel within the commodities market to enhance profits. The general business problem was that importing physical commodities from emerging markets was not profitable. The specific business problem was some small physical wholesale commodities firm managers lacked strategies to establish distribution channels for imported commodities. The information presented in this study is important to suppliers, manufacturers, distributors, and retailers of organic cacao products to identify strategies to enhance their distribution channels. Disruptive innovation and the theory of constraints grounded the …


Factoring As A Financing Alternative For African Small And Medium-Sized Enterprises, Robert Lumbuye Tomusange Jan 2015

Factoring As A Financing Alternative For African Small And Medium-Sized Enterprises, Robert Lumbuye Tomusange

Walden Dissertations and Doctoral Studies

Small and medium-sized enterprises (SMEs) are the main drivers of economic growth and employment. African SMEs are constrained by a lack of access to finance. In line with the pecking order theory, capital-constrained SMEs are expected to seek external finance. However, due to credit rationing, African SMEs have limited success raising finance. Factoring could enable African SMEs to gain access to finance, as underwriters mainly place the risk on the receivables as opposed to the firm itself. Despite its benefits, factoring has not taken root in sub-Saharan Africa. The purpose of this phenomenological study was to explore the obstacles and …


2014 Q4 Market Pulse Report, Craig R. Everett Dec 2014

2014 Q4 Market Pulse Report, Craig R. Everett

Pepperdine Market Pulse Report

The quarterly IBBA and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). The national survey was conducted with the intent of providing a valuable resource to business owners and their advisors. The IBBA and M&A Source present the Market Pulse Survey with the support of the Pepperdine Private Capital Markets Project and the Graziado School of Business and Management at Pepperdine University.


Curbing Corporate Inversions: A Study Of National And International Efforts To Establish Corporate Tax Equity, Scott Novak Dec 2014

Curbing Corporate Inversions: A Study Of National And International Efforts To Establish Corporate Tax Equity, Scott Novak

Independent Study Project (ISP) Collection

In recent years, the number of U.S. companies trying to merge with a foreign company and thereby reincorporate themselves in countries with a lower corporate tax rate – a practice known as corporate inversion – has skyrocketed. The public outcry in 2014 against corporate inversions led the U.S. Treasury to release a series of new anti-inversion regulations, and more policy changes are in the process of being debated. At the same time as this national discussion on the harmful effects corporate inversions have on the U.S. tax base is progressing, the Organization for Economic Cooperation and Development (OECD) is in …


Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini Nov 2014

Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini

Research Collection College of Integrative Studies

We study the effect of an asymmetric environment on risk sharing. In our model, entrepreneurs consider undertaking risky projects in the real sector as well as selling part of their projects to investors. To capture the idea of an asymmetric environment, the returns on the alternative risk-free investment are allowed to differ between the entrepreneurs and the investors, i.e., agents have different opportunity costs of participating in the risky projects. We first show that the presence of asymmetric options establishes links between the risk-free and risky sectors as well as between the real and financial sectors. In particular, an asymmetric …


Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini Nov 2014

Risk Sharing In An Asymmetric Environment, Eric Fesselmeyer, Leonard J. Mirman, Marc Santugini

Research Collection College of Integrative Studies

We study the effect of an asymmetric environment on risk sharing. In our model, entrepreneurs consider undertaking risky projects in the real sector as well as selling part of their projects to investors. To capture the idea of an asymmetric environment, the returns on the alternative risk-free investment are allowed to differ between the entrepreneurs and the investors, i.e., agents have different opportunity costs of participating in the risky projects. We first show that the presence of asymmetric options establishes links between the risk-free and risky sectors as well as between the real and financial sectors. In particular, an asymmetric …