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This study’s aim is to investigate the role of investor communication in equity-based crowdfunding. The study explores whether and how investor communication can reduce information asymmetries between investors and new ventures in equity-based crowdfunding, thereby facilitating the crowd’s investment decisions.

This paper follows an exploratory qualitative research approach based on semi-structured interviews with 23 market participants in equity-based crowdfunding: 12 investors, 6 new ventures and 5 third parties (mostly platform operators). After analyzing, coding and categorizing the data, this paper developed a theoretical framework and presented it in a set of six propositions.

The results indicate that the venture’s overall impression – especially perceived sympathy, openness and trustworthiness – is important to reduce perceived information asymmetries of investors in equity-based crowdfunding. To communicate these soft facts, personal communication seems to be replaced by pseudo-personal communication over the Internet (e.g. videos, investor relations channels and social media). In addition, the communications of third parties (e.g. other crowd investors, professional and experienced investors and other external stakeholders) influence the decision-making process of investors in equity-based crowdfunding. Third-party endorsements reduce the perceived information asymmetries and lower the importance of pseudo-personal communications by the venture.

Prior research shows that investor communication reduces information asymmetries between companies and investors. Currently, little is known about the role of investor communication in equity-based crowdfunding. This study focuses on the role of investor communication to reduce the perceived information asymmetries of investors in equity-based crowdfunding.

The purpose of this paper is twofold: first, to explore social risk management strategies amongst Fulani in the subhumid zone of Nigeria; and second, to determine current status and nature of reciprocal exchange networks, risk pooling and social support for pastoral livelihoods in North-Central Nigeria.

Surveys of cattle productivity and pastoral livelihoods were carried out amongst Fulani pastoralists on the Jos Plateau: between 2008 and 2013 using participatory epidemiology methods and the sustainable livelihoods framework. Qualitative and quantitative data on livelihood activities, knowledge, attitudes and practices of animal husbandry and disease control, wealth grouping, herd entries and exits was gathered to determine the current state of cattle productivity and pastoral livelihoods in the study area.

Results show that reciprocal exchange networks for risk management have mostly disintegrated and patron-client relationships have become an important social risk management strategy.

This research has significant implications for sustainability of Fulani livelihoods and communities: decreased social risk-management strategies and increased self-reliance means that the most vulnerable households will find it more difficult to withstand shocks and climb out of poverty. Wealthier households may cope better with high incidence/low severity shocks like but are more vulnerable to low incidence/high severity shocks. Likewise, decreased social cohesion reduces the ability of communities to mobilise and act collectively in the face of community-level shocks. This is very important for engagement with the state – a crucial process, given current levels of acrimony and conflict.

Given the high levels of farmer-herder conflict and civil unrest in this region over the past 15 years this research is valuable in providing insights into economic drivers of conflict, current dynamics of pastoral livelihoods and social cohesion within and between communities.

Hosting business events is no longer the preserve of hotels and purpose-built conference and exhibition centres. Today, visitor attractions, theatres, museums, universities and sporting complexes also compete for their share of the lucrative business events sector. However, few of these venues were originally designed and built to accommodate events but are now multipurpose in function and marketed to the events industry to secure a secondary source of income. This paper aims to evaluate the supply and design of venues for business events from both a historical and contemporary viewpoint.

As business events have specific venue requirements, ranging from extensive, accessible space for exhibitions to numerous rooms for plenary and syndicate conference sessions, choosing an appropriate venue from those available has become a considerable task. A review of key moments in history demonstrates how different types of venues have emerged and developed.

This study reveals how venues that have a similar background typically share features such as architectural design and layout. The paper discusses the characteristics of unusual, academic and sporting venues as well as hotels and purpose-built space to include factors such as availability, cost and location.

This paper provides an insight into the benefits and drawbacks of using different types of venues for business events and the advantages and challenges that these present to organisers. Case studies are embedded within this paper, illustrating the range of venues that are used to successfully host business events today. As there is limited literature that explores venue development for events, or commonalities of venue characteristics by type, the synthesis of these two important elements of event management makes this study an original and valuable contribution to the developing literature.

A LETTER from the President of the Library Association (Mr. Berwick Sayers) has been received which we have pleasure in giving prominently.