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This empirical study uses herd behavior model to explore the role of anchor investors in ensuring fundraising success and overfunding of crowdfunded ventures.

Qualitative comparative analysis (QCA) is applied to find the configurational patterns describing how anchor investors' information disclosure leads to successful financing and overfunding.

Even when the anchor investor's resume is not detailed or the anchor investor has little experience in entrepreneurial investment, success or overfunding can be achieved, provided the anchor investor is a corporation rather than an individual. For individual anchor investors, a detailed resume matters. Overfunding can be achieved even when an individual anchor investor makes a small relative investment, if this small relative investment is compensated for by a detailed resume. Experience in entrepreneurial investment is crucial when individual anchor investors have few previous investments. Regardless of the anchor investor's identity, investment in absolute terms is crucial for crowdfunding success when experience in entrepreneurial investment is low. Such experience must be extensive if the anchor investor's resume is not detailed.

Both entrepreneurs and crowdfunding platforms can benefit from the findings in relation to the design of campaigns that use anchor investors' informational cues to achieve success and overfunding.

The study examines the importance of anchor investors' information disclosure in digital crowdfunding environments, differentiating between individual and corporate anchor investors.

本實證研究使用羊群行為模型, 去探究錨定投資者在確保眾籌活動可達成功籌資以及過多籌資方面所扮演的角色。

研究人員以定性比較分析法、去找出描述錨定投資者的資訊公佈如何帶來成功融資和過多籌資的配置模式。

研究結果顯示、只要錨定投資者不是個人、而是一間公司, 則即使他們的履歷不詳盡, 又或他們對企業投資的經驗淺薄, 也無礙籌資或過多籌資的成功完成。如錨定投資者為個人, 則詳盡的履歷會影響甚鉅。即使個人錨定投資者相對而言參與少量的投資, 但若這少量的投資給他們詳盡的履歷所彌補的話, 則過多籌資仍可成功達到。若個別錨定投資者原有的投資量不多的話, 則企業投資的經驗至為重要。不管錨定投資者的身份是什麼, 若他們對企業投資所持的經驗淺薄, 則按絕對值計算的投資額對眾籌能否成功至為重要。若錨定投資者的履歷不詳盡, 則這種經驗必須是豐富廣泛的。

本研究區分了個人錨定投資者與公司錨定投資者兩者對眾籌的影響, 就此而研究在數碼的眾籌環境裡, 錨定投資者信息公佈的重要性。

研究結果可幫助企業家和群眾募資平台去設計可使用錨定投資者的資訊提示來達至成功眾籌和過多籌資的活動。

Research on high growth firms is booming yet a strong conceptual understanding of how these firms obtain (and sustain) rapid growth remains (at best) partial. The main purpose of this paper is to explore the role founders play in enabling episodes of rapid growth and how they help navigate this process.

This paper reports the findings from a qualitative study involving in-depth interviews with entrepreneurs enlisted onto a publicly funded high growth business accelerator programme in Wales. These interviews explored the causes of the firms rapid growth, their key growth trigger points and the organisational consequences of rapid growth.

The research reveals that periods of high growth are intrinsically and inextricably inter-linked with the entrepreneurial traits and capabilities of their founders coupled with their ability to “sense” and “seize” pivotal growth opportunities. It also demonstrates founder-level dynamic capabilities enable firms to capitalise on pivotal “trigger points” thereby enabling their progression to a new “dynamic state” in a firm’s temporal evolution.

The novel approach towards theory building deployed herein is the use of theoretical elaboration as means of extending important existing theoretical constructs such as growth “trigger points” and founder dynamic capabilities. To capitalise on these trigger points, founders have to undergo a process of “temporal transitioning” to effectively manage and execute the growth process in firms. The work also has important policy implications, underlining the need for more relational forms of support for entrepreneurial founders.

Digital technologies have been found to have long-lasting impacts on poverty. This study has been conducted to shed light on the contributions made by digital technologies toward poverty alleviation and also provide future research directions.

The authors thoroughly studied the sample of 258 publications from the Scopus database, covering the period from 1982 to June 2023. Using VOS viewer and Bibliometrix R, various graphs and networks are developed to understand publication trends, research collaborations and intellectual structures.

A significant amount of the existing literature on the impact of digital technologies on poverty alleviation demonstrates the need for more studies in this area. Lack of information and communication technology (ICT) infrastructure and access exhibits less opportunity for work, social networking and entrepreneurship, directly affecting people’s livelihoods in developing countries.

This study will help country planners, regulatory bodies and academicians get a deeper insight into the impact of digital technologies on poverty alleviation and also develop the future research agenda.

This study employs a considerable period of time, from the year 1982 to June 2023. To the best of authors’ knowledge, the current study is a pioneer in using bibliometric analysis to identify the impact of digital technologies on the alleviation of poverty. This attempt will surely be helpful to academicians, researchers and those working on identifying the impact of digital technology on poverty alleviation.

Opportunity-driven entrepreneurship (ODEs) is a key to economic development. Consequently, the emigration of potential ODEs constitutes a barrier to the development of the country of origin. Thus, this study examines how the combined effect of subjective insecurity, corruption perception, subjective norm towards emigration, socioeconomic level and the entrepreneurial intention of potentially opportunity-driven university students can affect their propensity to emigrate.

A sample of students (N = 354) from the Technological University of the State of Zacatecas is surveyed, and a causal model based on the fuzzy set qualitative comparative analysis (fsQCA) configuration methodology is proposed.

The results suggest that future graduates are more likely to emigrate when their corruption and/or insecurity perceptions are high. In addition, the subjective norm is decisive when taking the decision to emigrate. Finally, in the specific cases of individuals with the highest entrepreneurial intentions as well, their perceptions of corruption and insecurity have a great influence.

This study addresses, from a cognitive point of view, the effect on ODEs of phenomena that are strongly prevalent in Mexico, such as citizen insecurity, corruption, poverty and the migratory tradition.

El emprendimiento por oportunidad es clave en el desarrollo económico de los territorios. De esta forma, la emigración de individuos potencialmente emprendedores por oportunidad constituye un freno al desarrollo del país de origen. Así, en esta investigación se estudia cómo el efecto combinado de la inseguridad subjetiva, la percepción de corrupción, la norma subjetiva hacia la emigración, el nivel socioeconómico y la intención emprendedora que presentan los estudiantes universitarios potencialmente emprendedores por oportunidad puede afectar a su propensión a emigrar.

Se emplea una muestra de alumnos (N = 354) de la Universidad Tecnológica del Estado de Zacatecas (UTZAC) y se plantea un modelo causal siguiendo la metodología configuracional fsQCA.

Los resultados sugieren que los futuros egresados presentan mayor propensión a emigrar cuando su percepción de corrupción y/o inseguridad son altas. De la misma manera, la norma subjetiva es determinante a la hora de tomar la decisión de emigrar. Finalmente, en el caso concreto de los individuos con mayor intención emprendedora también se aprecia una gran influencia de su percepción de corrupción y de inseguridad.

Este estudio aborda desde un punto de vista cognitivo el efecto sobre el emprendimiento por oportunidad de fenómenos muy presentes en México como son la inseguridad ciudadana, la corrupción, la tradición migratoria y la pobreza.

This bibliometric review aims to display visually the intellectual communities (i.e. the cooperation networks among various countries, institutions, journals and individuals), the intellectual structure (i.e. the status quo and development trajectory of the intellectual base) and emerging hot topics of the female entrepreneurship research in 1975-2018. Based on the comprehensive review of the state-of-the-science, this paper aims to identify significant research gaps in extant studies and develop potential future research agendas that may catalyse new streams of female entrepreneurship research.

Bibliometric analysis via science mapping provides in-depth analyzes, highlights the intellectual structure and identifies hot topics. Using CiteSpace, co-citation networks of contributing countries, institutions, cited journals and authors are mapped first. Second, co-citation network analysis helps to identify the key “nodes” in the intellectual structure. The landscape view identifies main clusters from an overall perspective, while a timeline view delineates the characteristics and evolution of focal clusters. Major clusters are interpreted in detail with the help of foam tree graph processed by Carrot. Finally, the co-occurrence network analysis is conducted by using VOSviewer to examine hot topics and research frontiers

The findings show that the publications of female entrepreneurship increase exponentially. The major driving force of female entrepreneurship research is from the USA and England. In terms of intellectual structure, key concepts behind different clusters represent the major milestones in relation to individual determinants of female entrepreneurship, the impact of cultural and contextual factors on female entrepreneurship and female entrepreneurship in non-OECD countries, as well as the impact of family, social and institutional factors on the survival and exit of male and female enterprises. Hot topics include financing sources, the embeddedness nature, the impact and environmental factors of female entrepreneurship.

This study presents important practical implications. The findings suggest that intellectual communities of the female entrepreneurship field are relatively loose. Close contact and cooperation among different countries, institutions and researchers are lacking. To promote the evolution of the field, researchers who belong to different institutions in different countries may need to strengthen contact and cooperation. Additionally, papers in journals from the business and management discipline are most cited in this field, preventing new knowledge from other disciplines flowing into the female entrepreneurship field. Accordingly, female entrepreneurship research journals may need to expand their focus and combine knowledge from various domains.

This bibliometric review provides a more comprehensive, systematic and objective review of the female entrepreneurship field. Previous qualitative reviews are typically based on personal judgement, while a few quantitative reviews only describe statistical data. This study is based on thousands of citation data rather than a small number of papers pre-selected by the researcher, thus, is more data-grounded and less biased than prior reviews. It expands previous reviews by transparently visualizing the underlying structure and evolution of the field. Moreover, it highlights significant gaps in extant studies and develops future research agendas to catalyse new streams of research.