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Article
Publication date: 6 August 2018

Entrepreneurial management equity allocation and financing structure optimization of technology-based entrepreneurial firm

Xiang Hui, Bingxiang Li and Mingmin Li

To satisfy the demand of initial investor for above-average capital return and the expectation of entrepreneurial management to establish their own business, this paper…

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Abstract

Purpose

To satisfy the demand of initial investor for above-average capital return and the expectation of entrepreneurial management to establish their own business, this paper aims to explore a dynamic equity allocation model in which the shareholding ratio of the technology-based entrepreneurial firm changes with its growth and profit. Based on the dynamic equity allocation model, the authors design a financing structure which not only ensures timely and adequately obtaining the fund but also avoids equity dilution and safeguards the integrity of equity.

Design/methodology/approach

The paper selects high-tech companies listed in China as the sample for empirical research to identify the role of stock incentive and uses model deduction to find the equitable quantized benchmark for entrepreneurial management equity allocation. The study uses capital exclusivity as an entry point to perform theoretical analysis and demonstrates how the equity allocation of a technology-based entrepreneurial firm changes dynamically as the presentation speed of entrepreneurial management’s human capital exclusivity accelerates. The paper then constructs a conceptual model to design the financing structure of the technology-based entrepreneurial firm.

Findings

The study finds that stock incentive upwardly regulates debt financing and downwardly regulates equity financing. Based on characteristics of technology-based entrepreneurial firms, the paper suggests that the immediate surplus capital increment can signify the increasing presentation speed of human capital exclusivity, and it is proposed as an equitable quantized benchmark for equity allocation to entrepreneurial management. Based on the dynamic equity allocation model, the paper designs an internal equity and external debt financing structure.

Originality/Value

The conclusions enrich the theoretical foundation for entrepreneurial management to participate in residual claim and provide practical guidance for equity allocation and financing structure design in the context of mass entrepreneurship and innovation. The paper also sets up a conceptual framework for solving two major issues of the technology-based entrepreneurial firm: timely acquisition of external funding and lasting maintenance of entrepreneurial management stability.

Details

Nankai Business Review International, vol. 9 no. 3
Type: Research Article
DOI: https://doi.org/10.1108/NBRI-03-2017-0011
ISSN: 2040-8749

Keywords

  • Capital exclusivity
  • Financing structure
  • Immediate surplus capital increment
  • Time-changing equity allocation

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Book part
Publication date: 15 May 2018

Index

Crystal Abidin

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Details

Internet Celebrity: Understanding Fame Online
Type: Book
DOI: https://doi.org/10.1108/978-1-78756-076-520181007
ISBN: 978-1-78756-079-6

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Book part
Publication date: 7 September 2008

Intertwining national and urban policies: National development strategies and municipal tactics in greater Buenos Aires

Nora Libertun de Duren

Why are some of the municipalities located on the most dynamic, populous and productive region of a nation, also the poorest of the nation? Why after decades of being at…

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Abstract

Why are some of the municipalities located on the most dynamic, populous and productive region of a nation, also the poorest of the nation? Why after decades of being at the center of national development policies, the municipalities of Greater Buenos Aires are still suffering some of the worst development indicators of the Argentina?

Details

Political Power and Social Theory
Type: Book
DOI: https://doi.org/10.1016/S0198-8719(08)19004-4
ISBN: 978-0-76231-418-8

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Book part
Publication date: 11 August 2005

Commercializing University Research Systems in Economic Perspective: A View from the Demand Side

Brett M. Frischmann

Universities face incredibly difficult, complex decisions concerning the degree to which they participate in the process of commercializing research. The U.S. government…

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Abstract

Universities face incredibly difficult, complex decisions concerning the degree to which they participate in the process of commercializing research. The U.S. government has made an explicit policy decision to allow funded entities to obtain patents and thereby has encouraged participation in the commercialization of federally funded research. The Bayh-Dole Act enables universities to participate in the commercialization process, but it does not obligate or constrain them to pursue any particular strategy with respect to federally funded research. Universities remain in the driver's seat and must decide carefully the extent to which they wish to participate in the commercialization process.The conventional view of the role of patents in the university research context is that patent-enabled exclusivity improves the supply-side functioning of markets for university research results as well as those markets further downstream for derivative commercial end-products. Both the reward and commercialization theories of patent law take patent-enabled exclusivity as the relevant means for fixing a supply-side problem – essentially, the undersupply of private investment in the production of patentable subject matter or in the development and commercialization of patentable subject matter that would occur in the absence of patent-enabled exclusivity.While the supply-side view of the role of patents in the university research context is important, a view from the demand side is needed to fully appreciate the role of patents in the university research context and to fully inform university decisions about the extent to which they wish to participate in the commercialization process. Introducing patents into the university research system, along with a host of other initiatives aimed at tightening the relationship between universities and industry, is also (if not primarily) about increasing connectivity between university science and technology research systems and the demands of industry for both university research outputs (research results and human capital) and upstream infrastructural capital necessary to produce such outputs.In this chapter, I explore how university science and technology research systems perform economically as infrastructural capital and explain how these systems generate social value. I explain how the availability of patents, coupled with decreased government funding, may lead to a slow and subtle shift in the allocation of infrastructure resources.

Details

University Entrepreneurship and Technology Transfer
Type: Book
DOI: https://doi.org/10.1016/S1048-4736(05)16006-8
ISBN: 978-1-84950-359-4

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Article
Publication date: 5 December 2019

Constructive and negative aspects of social capital in work-related learning networks

Nita Muir and Jenny Byrne

The purpose of this paper is to discuss empirical findings from a study that investigated the work practices within an education network, with the aim of understanding the…

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Abstract

Purpose

The purpose of this paper is to discuss empirical findings from a study that investigated the work practices within an education network, with the aim of understanding the processes of knowledge development and learning process.

Design/methodology/approach

The research is interpretatively positioned through a qualitative case study methodology. This enabled a holistic portrait of the network activity using three different methods of data collection. These were a preliminary focus group, followed by documentary analysis of a significant number of artefacts/documents produced by the network which were triangulated with data from interviews using a cross-case analytical framework.

Findings

Empirical insights are provided into the practice of the network through a lens of social capital. It suggests that having a strong bonding social capital is an informal learning factor which develops the individual participants “skills and knowledge” within the framework of Boyers scholarly practice. The findings also indicate a “dark side” to this informal learning factor which impeded collective learning through exclusivity and a maintenance of the status quo within the network.

Research limitations/implications

Because of the chosen research approach, the research results may lack generalisability. Therefore, researchers are encouraged to test the proposed propositions further.

Practical implications

The paper considers social capital within a network and the implication that this has on learning and development.

Originality/value

This paper provides insight into informal learning factors employed within work-related learning and the duality of social capital. It also offers a novel approach in understanding how nurse academics frame work-related learning through scholarly practice.

Details

Higher Education, Skills and Work-Based Learning, vol. 10 no. 2
Type: Research Article
DOI: https://doi.org/10.1108/HESWBL-08-2019-0104
ISSN: 2042-3896

Keywords

  • Social capital
  • Networking
  • Network
  • Qualitative case study
  • Learning factor
  • Work-related learning

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Article
Publication date: 1 June 2002

Chief Technology Officer (CTO) Decisions to Dare for Corporate/Country Survival

George K. Chacko

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade…

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Abstract

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 14 no. 2/3
Type: Research Article
DOI: https://doi.org/10.1108/13555850210764963
ISSN: 1355-5855

Keywords

  • Technology change
  • Strategy
  • Chief executives
  • Technologists
  • Model

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Article
Publication date: 14 March 2016

The future of food tourism

Ian Yeoman and Una McMahon-Beatte

The authors identify five driving forces of changes that are shaping the discourses about food tourism. The paper aims to discuss this issue.

Open Access
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Abstract

Purpose

The authors identify five driving forces of changes that are shaping the discourses about food tourism. The paper aims to discuss this issue.

Design/methodology/approach

The approach used by this paper is a general review.

Findings

The five driving forces identified are: food tourism as political capital; food tourism as a visionary state; what it means to be a foodie; the drive for affluence and exclusivity; fluid experiences in a post-modernist world.

Originality/value

The five drivers of change are identified as the core of any food tourism strategy for policy makers.

Details

Journal of Tourism Futures, vol. 2 no. 1
Type: Research Article
DOI: https://doi.org/10.1108/JTF-12-2015-0051
ISSN: 2055-5911

Keywords

  • Futures
  • Food tourism
  • Drivers

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Book part
Publication date: 25 July 2019

Removing the Rose Colored Glasses of Exclusivity

Caterina Valentino

This chapter aims to expose the reader to the notion that mandated diversity and inclusion changes intended to vary the composition of institutions of learning has not…

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This chapter aims to expose the reader to the notion that mandated diversity and inclusion changes intended to vary the composition of institutions of learning has not accomplished its goal. Rather, it has triggered a complex mix of reactions from the very people for whom the policy was designed to assist and from those who work under the policy. As society is molded to meet diversity targets, salient threats from dominant groups directed toward minority groups result in interpersonal conflict. This chapter explores the benefits that instructors receive from professional development activities centered on diversity. It examines the social identity conflict that is created when different minded people work together. It provides insight into the benefits of approaching social identity conflict with a conflict transformation perspective. This chapter exposes the reality that, while the words one speaks are respectful and inclusive, one’s actions may be totally different. Educators must exhibit an overarching commitment to the making of decisions on integrity and evidence rather than impressions. This chapter discusses the importance of the role of educators as moral leaders and the need for educators to create inclusive classrooms where diversity is celebrated.

Details

Strategies for Facilitating Inclusive Campuses in Higher Education: International Perspectives on Equity and Inclusion
Type: Book
DOI: https://doi.org/10.1108/S2055-364120190000017002
ISBN: 978-1-78756-065-9

Keywords

  • Biases
  • unconscious
  • conflict transformation
  • conflict management
  • diversity
  • inclusive
  • bonding social capital
  • bridging social capital
  • unconscious biases

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Article
Publication date: 9 November 2012

The flagship format within the luxury fashion market

Karinna Nobbs, Christopher M. Moore and Mandy Sheridan

Since the concept of the flagship store format was first introduced to retailing in the 1970s, both its form and function have evolved considerably. The highest…

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Abstract

Purpose

Since the concept of the flagship store format was first introduced to retailing in the 1970s, both its form and function have evolved considerably. The highest concentration of flagships can be seen in the luxury fashion market. This paper aims first to define the flagship concept in terms of its key characteristics, and second to outline the academic and industry developments, thereby charting its evolution.

Design/methodology/approach

Research was undertaken qualitatively due to the exploratory theory building nature of the subject area and the absence of accepted theoretical frameworks. This took the form of non participant observation and in‐depth interviews with brand representatives within seven major fashion capitals.

Findings

The research identifies essential elements of the luxury store format: its scale and size which usually exceeds functional need; it is derived and built on the twin features of exclusivity and uniqueness; it seeks to offer the customer a justification for their visit. The format evolves and adapts to find new ways of generating and communicating differentiation.

Research limitations/implications

The findings provide direction for future research in the area, in particular, an opportunity to investigate how luxury flagship stores adapt in order to accommodate market conditions.

Originality/value

The paper delineates the characteristics of the luxury flagship store format and identifies a new characteristic of this format.

Details

International Journal of Retail & Distribution Management, vol. 40 no. 12
Type: Research Article
DOI: https://doi.org/10.1108/09590551211274928
ISSN: 0959-0552

Keywords

  • Luxury
  • Fashion
  • Speciality retail format
  • Flagship
  • Third space
  • Visual merchandising
  • Retail trade
  • International business

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Book part
Publication date: 17 September 2020

Local Conditions for Sustainable Entrepreneurial Opportunities

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Sustainable Entrepreneurship: How Entrepreneurs Create Value from Sustainable Opportunities
Type: Book
DOI: https://doi.org/10.1108/978-1-80043-147-820201007
ISBN: 978-1-80043-147-8

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