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Article
Publication date: 13 May 2024

Arvind Malhotra, Gordon Burtch and Jonathan Wareham

In the context of rewards-based crowdfunding, this study aims to examine the role of project backers as providers of knowledge inputs beyond just financial capital.

Abstract

Purpose

In the context of rewards-based crowdfunding, this study aims to examine the role of project backers as providers of knowledge inputs beyond just financial capital.

Design/methodology/approach

This study uses binomial regression to study the relationship between project creators’ and backers’ knowledge sharing, and the relationship of these two knowledge-sharing elements with achieving above-goal funding levels.

Findings

This study finds that the project creator’s knowledge sharing is significantly and positively related to backers’ knowledge sharing and that this relationship is moderated by the type of project. Furthermore, backers’ knowledge sharing is positively related to above-goal funding outcomes for a project.

Research limitations/implications

This study established the link between creators’ and backers’ knowledge sharing in rewards-based crowdfunding, which has been underexplored in the literature. This study’s direct attention to the role of knowledge as a key resource in rewards-based crowdfunding and crowdsourcing in general.

Practical implications

For entrepreneurs seeking crowdfunding, this study highlights the importance of knowledge sharing with their project backers to attain above-goal funding. Furthermore, eliciting backers’ knowledge input acts as a signaling mechanism that increases the crowd’s confidence in the project. It also endows entrepreneurs with knowledge resources that can improve project outcomes and achieve broader market success postcrowdfunding.

Originality/value

To the best of the authors’ knowledge, this study is one of the first to focus on knowledge content as a critical element in project backer-creator communication in rewards-based crowdfunding. This study also delineate the various knowledge types shared between the project creator and backers in both rewards-based crowdfunding projects.

Details

Journal of Knowledge Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1367-3270

Keywords

Article
Publication date: 22 February 2024

Zhongzhi Liu, Fujun Lai and Qiaoyi Yin

As the application of crowdsourcing contests grows, leveraging the participation of superstars (i.e. solvers who have outstanding performance records in a crowdsourcing platform…

Abstract

Purpose

As the application of crowdsourcing contests grows, leveraging the participation of superstars (i.e. solvers who have outstanding performance records in a crowdsourcing platform) becomes an emergent approach for managers to solve crowdsourced problems. Although much is known about superstars’ performance implications, it remains unclear whether and how their participation affects the size of a contest crowd for a crowdsourcing contest. Based on social contagion theory, this paper aims to examine the impact of superstars’ participation on the crowd size and studies how this impact varies across solvers with different heterogeneity in terms of skills, exposure and cultural proximity with superstars in crowdsourcing contests.

Design/methodology/approach

This paper uses secondary data from one crowdsourcing platform that includes 6,587 innovation contests to examine superstars’ main and contextual effects on the crowd size of a contest.

Findings

Our results reveal that superstars’ participation positively affects the crowd size of a contest in general. This finding suggests that social contagion is a fundamental mechanism underlying crowd formation in crowdsourcing contests. Our results also indicate that in contests that involve multiple superstars, superstars’ effect on crowd size becomes negative when we simultaneously consider other solvers’ heterogeneity in terms of skills, exposure and cultural background, and this negative effect will be intensified by increases in the skill gap, extent of exposure and cultural proximity between superstars and other solvers in the same contest.

Originality/value

Our research enhances the understanding of the influence of superstars and the mechanism underlying the emergence of contest crowds in crowdsourcing contests and contributes knowledge to better understand social contagion in a competitive setting. The results are meaningful for sourcing managers and platform supervisors to design contests and supervise crowd size in crowdsourcing contests.

Details

International Journal of Operations & Production Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3577

Keywords

Article
Publication date: 21 May 2024

Xinyang Li, Marek Kozlowski, Sarah Abdulkareem Salih and Sumarni Binti Ismail

In urban planning, sustainability is closely linked to the quality of urban public spaces (UPS). However, some UPS encounter issues of low attractiveness and underutilisation…

Abstract

Purpose

In urban planning, sustainability is closely linked to the quality of urban public spaces (UPS). However, some UPS encounter issues of low attractiveness and underutilisation. Vitality serves as a crucial measure in this context. The research perspective on the vitality of UPS centres on the balance between human activities and the built environment. Therefore, this article aims to systematically review critical aspects of UPS vitality evaluation system, including research objects, vitality components and research methods, from the dimensions of crowd activity and the built environment.

Design/methodology/approach

A systematic literature review using PRISMA analysed English-language publications from 2008 to 2023 in Scopus and Web of Science (WOS) databases, employing keywords related to UPS and vitality, with defined inclusion and exclusion criteria.

Findings

(1) Research objects, including parks, squares, waterfronts, blocks and streets. (2) The factors contributing to crowd activity characteristics originate from five dimensions, namely spatial, temporal, visitor, activity and feedback. Environmental factors, both external (accessibility, surrounding function mix and population density) and internal (service facility mix and water presence), significantly impact vitality. (3) The study primarily relies on quantitative data, including traditional surveys and emerging significant data sources like dynamic location and traffic, social media, geospatial and point of interest (POI) data. Data analysis methods commonly used include correlation analysis and comprehensive evaluation techniques.

Originality/value

The findings contribute to a comprehensive understanding of the vitality evaluation system for UPS from multiple perspectives for urban planners, aiding in identifying key factors and research methods in the vitality evaluation of various types of UPS.

Details

Archnet-IJAR: International Journal of Architectural Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2631-6862

Keywords

Article
Publication date: 23 April 2024

Margaret Anne Murray and April Marvin

The Astroworld concert tragedy is used as an example of crisis (mis)management and the potential utility of the 4R model. Although the 4R model has been implemented in high-risk…

Abstract

Purpose

The Astroworld concert tragedy is used as an example of crisis (mis)management and the potential utility of the 4R model. Although the 4R model has been implemented in high-risk emergency management situations, it is useful in the PR field because of its actionable approach, creating a way for practitioners to prepare for and manage crisis situations.

Design/methodology/approach

This is an analysis of the crisis that occurred at Astroworld, spanning preparation, day-of events, casualties and enduring reputational impact. The paper applies the 4R method to the Astroworld tragedy to show how it could have lessened or even prevented the tragedy. Finally, the SCCT model is used to explain why the official post-crisis statements were ineffective.

Findings

Social media has heightened the importance of a quick and effective organizational response to risk and crisis situations because poor responses can go viral quickly. However, social media also provides intelligence and crowd sourced information that can inform PR practitioners of emerging crisis scenarios. It is also an underutilized tool for two-way communication during crises.

Practical implications

The 4R approach is beneficial to general practitioners as it simplifies crisis best-practices, something essential for quick action. As our world changes and becomes less predictable, practitioners must have a clear plan to protect their organizations and the public surrounding them. This approach includes reduction, readiness, response and recovery, which are all essential in crisis communication.

Originality/value

The 4R method has not been explored or applied in the PR field. This paper highlights how the model has been utilized in the emergency management field and illustrates the way 4R can serve the PR field.

Details

Corporate Communications: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1356-3289

Keywords

Article
Publication date: 22 February 2024

Nizam Ud Din, Shama Nazneen and Barkat Jamil

In line with the stimulus overload theory, this study seeks a comprehensive understanding of tourism crowding by examining residents’ perceived tourism crowding and their…

Abstract

Purpose

In line with the stimulus overload theory, this study seeks a comprehensive understanding of tourism crowding by examining residents’ perceived tourism crowding and their corresponding avoidance and approach reactions through sustainable tourism. In addition, the study aims to investigate whether residents’ proenvironmental behavior moderates’ tourism’s negative impacts on the local ecosystem, delving into its potential mitigating role.

Design/methodology/approach

Using purposive sampling, the authors engaged residents associated with government and nongovernment organizations, universities, colleges and schools, as well as individuals from the business sector encompassing hotels, restaurants and cafeterias, markets and dedicated social activists actively involved in community affairs.

Findings

The analysis, conducted on 920 questionnaires using structural equation modeling, demonstrates that tourism crowding exhibits a negative correlation with sustainable tourism and approach reactions but a positive correlation with avoidance reactions. Furthermore, the moderation analysis suggests that as residents’ proenvironmental behavior improves, the detrimental effect of tourism crowding on sustainable tourism diminishes.

Practical implications

The study presents numerous implications for policymakers and the tourism industry, emphasizing the need to comprehend residents’ perceptions of tourism crowding and sustainable tourism. It underscores the importance of engaging residents in the tourism process to achieve sustainability goals.

Originality/value

The novel theoretical contribution lies in applying the stimulus overload theory to examine tourism crowding and sustainable tourism, specifically from the residents’ perspectives.

目的

本研究根据刺激超负荷理论, 通过考察旅游地居民在整个可持续旅游过程中对旅游拥挤的感知以及他们的相应回避和接近反应, 寻求对旅游拥挤的全面了解。此外, 本研究旨在调查旅游地居民的环保行为是否可以缓和旅游对当地生态系统造成的负面影响, 并深入探讨潜在缓解作用。

方法

我们采用目的性抽样方法, 邀请了与政府和非政府组织、大学、学院和学校有关联的旅游地居民, 来自商业领域(包括HORECA“酒店、餐馆和自助餐厅”和市场)的个人, 以及积极参与社区事务的专职社会活动家。

结果

本研究采用结构方程模型(SEM)对920份调查问卷进行分析, 结果表明旅游拥挤与可持续旅游和接近反应呈负相关, 而与回避反应呈正相关。此外, 缓和分析表明, 随着旅游地居民环保行为的改善, 旅游拥挤对可持续旅游的不利影响呈现减弱。

实践启示

本研究为决策者和旅游业提供了许多启示, 强调需要了解旅游地居民对旅游拥挤和可持续旅游的感知, 亦强调了让旅游地居民参与旅游过程的重要性, 以确保实现可持续发展目标。

原创性

本研究贡献了新颖的理论, 应用刺激超负荷理论考察旅游拥挤和可持续旅游, 特别是从旅游地居民角度进行考察。

Propósito

Este estudio busca una comprensión global de la masificación turística mediante el examen de la masificación turística percibida por los residentes y sus correspondientes reacciones de aproximación y evitación a través del turismo sostenible, en el marco de la teoría de la sobrecarga de estímulos. Además, el estudio investiga si el comportamiento proambiental de los residentes modera los impactos negativos del turismo en el ecosistema local, profundizando en su potencial papel mitigador.

Metodología

Utilizando un muestreo intencional o por juicio, se recogieron datos de residentes vinculados a organizaciones gubernamentales y no gubernamentales, universidades, institutos y escuelas, así como a personas del sector empresarial que engloba hoteles, restaurantes y cafeterías, mercados y activistas sociales que participan activamente en asuntos comunitarios.

Hallazgos

El análisis de 920 cuestionarios mediante un modelo de ecuaciones estructurales demuestra que la masificación turística presenta una correlación negativa con el turismo sostenible y las reacciones de aproximación, pero una correlación positiva con las reacciones de evitación. Además, el análisis de moderación sugiere que a medida que mejora el comportamiento proambiental de los residentes, disminuye el impacto negativo de la masificación turística sobre el turismo sostenible.

Implicaciones prácticas

El estudio presenta numerosas implicaciones para los responsables políticos y la industria turística, destacando la necesidad de comprender las percepciones de los residentes sobre la masificación turística y el turismo sostenible. Se subraya la importancia de implicar a los residentes en el proceso turístico para alcanzar objetivos de sostenibilidad.

Originalidad/valor

La novedosa aportación teórica radica en la aplicación de la teoría de la sobrecarga de estímulos para examinar la masificación turística y el turismo sostenible, específicamente desde la perspectiva de los residentes.

Article
Publication date: 8 April 2024

George Okello Candiya Bongomin, Frederick Semukono, Pierre Yourougou and Rebecca Balinda

With reference to the global financial crisis and lessons learned, advocacy for distributing suitable financial products by financial intermediaries remain key if consumers…

15

Abstract

Purpose

With reference to the global financial crisis and lessons learned, advocacy for distributing suitable financial products by financial intermediaries remain key if consumers, especially the illiterate in underdeveloped financial markets, are to be absorbed into the formal financial system. Financial intermediaries such as microfinance banks should provide suitable financial products, with full disclosure of information and customer protection relating to distribution of all financial products within the financial market to prevent financial vulnerability. The main purpose of this study is to establish the mediating role of financial product suitability in the relationship between access to microfinance products and survival of women micro-agribusinesses in rural Uganda.

Design/methodology/approach

SmartPLS with bootstrap based on 5,000 samples was used to test for the mediating role of financial product suitability in the relationship between access to microfinance products and survival of women micro-agribusinesses in rural Uganda.

Findings

The results revealed that financial product suitability improves access to microfinance products by 29 percentage points to promote survival of women micro-agribusinesses in rural Uganda. In reality, delivering suitable financial products that suit the economic condition of poor women micro-agribusiness borrowers, can allow them to use these products to generate income to meet timely repayment obligations and business demands.

Research limitations/implications

The current study selected samples from only women micro-agribusinesses operating in rural Uganda, with a specific focus on the northern region. Thus, studies involving samples selected from other rural developing countries may be necessary in future. Additionally, while the findings are significant, the data were collected from only women microenterprises who are clients of microfinance banks. Future studies focusing on women microenterprises who are clients of other financial institutions may offer insightful comparative data.

Practical implications

The findings from this study offer strategies for managers of microfinance banks to invent and design financial products that suit the economic status and condition of different microcredit clients, especially the women micro-agribusinesses. This can help them to solve the problem of defaults in loan repayment and delinquency common while lending to the rural poor. In fact, microfinance banks should adopt a customized loan pricing model that can promote the operational sustainability and commercial viability of women micro-agribusinesses in the current situation of mission adrift.

Originality/value

The current study uses the suitability rule and economic theory to elucidate the importance of microfinance product suitability to increase microfinance inclusion of women micro-agribusinesses in rural areas in developing countries. The novelty in this paper is in combining the suitability rule and economic theory with microfinance theory to promote access to microcredit by the women micro-agribusinesses in rural Uganda under the situation of mission adrift. This is limited in the existing microfinance literature and theory, especially in developing countries like Uganda.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

Article
Publication date: 8 May 2024

Manager Singh, Deepak Anand Gupta and Dr Madhuri Sawant

The purpose of this study is to investigate environmental factors impacting Ajanta mural deterioration, assessing global tourism effects and visitor conduct on cave environment…

Abstract

Purpose

The purpose of this study is to investigate environmental factors impacting Ajanta mural deterioration, assessing global tourism effects and visitor conduct on cave environment and murals. This study recognizes stakeholder roles in conservation, providing data-driven insights to guide institutions like the Archaeological Survey of India. The objective is sustainable tourism practices to balance public access with mural preservation for future generations.

Design/methodology/approach

Over 25 years, Ajanta Caves' visitors doubled, impacting microclimatic conditions for ancient murals. This study assesses visitor impact to establish a regime and determine carrying capacity, considering temperature, humidity and pollution. Challenges arise from quantifying capacity because of variables. This research informs global tourism and heritage conservation, offering methodologies applicable to cultural sites worldwide.

Findings

This study examines environmental impacts on mural preservation in Ajanta Caves, including humidity, microbial growth, sunlight exposure, air quality and tourist presence. Tourist influx escalates CO2 levels, directly endangering murals. Concerns about particulate matter, especially during visits, emphasize the need for data-driven decision-making and modern technology use to protect Ajanta Caves' artwork, crucial because of its global significance and tourism-related vulnerabilities.

Social implications

This study carries substantial social implications with a global resonance. The active engagement of the local community and tourism stakeholders in conserving and promoting the Ajanta Caves fosters empowerment, igniting a sense of pride, ownership and responsibility among residents and ensuring sustainable enjoyment of cultural heritage while safeguarding it for future generations. In addition, there will be socioeconomic benefits to local residents such as employment opportunities as tour operators, tour guides, hospitality staff, artisans and souvenir shopkeepers.

Originality/value

This study integrates art conservation, environmental science, cultural heritage preservation and social aspects to address global tourism challenges. Focusing on a site of worldwide significance, this study offers practical strategies for artwork preservation, tourism management and environmental concerns. These recommendations provide real-world solutions applicable to heritage sites globally, bridging scientific analysis with social and cultural insights.

目的

本研究调查了影响阿詹塔壁画退化的环境因素, 评估了全球旅游业和游客行为对洞穴环境和壁画的影响。它承认利益相关者在保护中的作用, 为印度考古调查等机构提供数据支撑的见解。目的是实践可持续旅游, 平衡公众进入和供子孙后代使用的壁画保护。

设计/方法

25年来, 阿詹塔洞穴的游客增加了一倍, 影响了古壁画的小气候条件。该研究评估了游客的影响, 考虑温度、湿度和污染, 建立了一个制度并确定承载能力。量化承载能力的指标面临着挑战。这项研究为全球旅游业和遗产保护提供了信息, 提供了适用于世界各地文化遗址的方法。

研究发现

这项研究考察了环境对阿詹塔洞穴壁画保护的影响, 包括湿度、微生物生长、阳光照射、空气质量和游客的存在。游客的涌入使二氧化碳含量上升, 直接危及壁画。对颗粒物的考虑, 尤其是在参观期间, 强调了数据驱动决策和现代技术应用对保护阿詹塔洞穴的艺术品的必要性。这一点至关重要, 因为它具有全球意义和旅游相关的脆弱性。

社会影响

这项研究具有重大的社会影响并引起全球共鸣。当地社区和旅游利益相关者积极参与阿旃陀石窟的保护和推广, 可以增强居民的赋权, 激发居民的自豪感、主人翁意识和责任感, 确保可持续享受文化遗产, 同时为子孙后代保护文化遗产。此外, 还将为当地居民带来社会经济效益, 例如旅游经营者、导游、接待人员、工匠、纪念品店主等的就业机会。

创意/价值

这项研究综合了艺术保护、环境科学、文化遗产保护和社会方面以应对全球旅游业的挑战。它关注一个具有世界意义的遗址, 为艺术品保护、旅游管理和环境问题提供了实用的策略。这些建议提供了适用于全球遗产地的现实世界解决方案, 将科学分析与社会和文化见解联系起来。

Finalidad

El estudio investiga los factores medioambientales que influyen en el deterioro de los murales de Ajanta, evaluando los efectos globales del turismo y el comportamiento de los visitantes sobre el entorno de las cuevas y los murales. Se examina el papel que desempeñan las partes interesadas en la conservación y aporta datos para orientar a instituciones como la encuesta arqueológica de India. El objetivo son las prácticas turísticas sostenibles para equilibrar el acceso del público con la conservación de los murales para las generaciones futuras.

Diseño/metodología/enfoque

A lo largo de 25 años, los visitantes de las cuevas de Ajanta se han duplicado, con un impacto en las condiciones microclimáticas de los murales antiguos. El estudio evalúa el impacto de los visitantes para establecer una regulación y determinar la capacidad de carga, teniendo en cuenta la temperatura, la humedad y la contaminación. La cuantificación de la capacidad plantea problemas debido a las variables. La investigación aporta información al turismo mundial y a la conservación del patrimonio, ofreciendo metodologías aplicables a sitios culturales de todo el mundo.

Resultados

Este estudio examina los impactos ambientales en la conservación de los murales de las cuevas de Ajanta, incluyendo la humedad, el crecimiento microbiano, la exposición a la luz solar, la calidad del aire y la presencia de turistas. La afluencia de turistas aumenta los niveles de CO2, poniendo directamente en peligro los murales. La preocupación por las partículas, especialmente durante las visitas, pone de relieve la necesidad de tomar decisiones basadas en datos y de utilizar tecnología actual para proteger las obras de arte de las cuevas de Ajanta, algo crucial debido a su importancia mundial y a las vulnerabilidades relacionadas con el turismo.

Implicaciones sociales

Este estudio conlleva importantes implicaciones sociales con una resonancia global. La participación activa de la comunidad local y las partes interesadas del turismo en la conservación y promoción de las Cuevas de Ajanta fomenta el empoderamiento, generando un sentido de orgullo, propiedad y responsabilidad entre los residentes y garantiza el disfrute sostenible del patrimonio cultural al mismo tiempo que lo salvaguarda para las generaciones futuras. Además, habrá beneficios socioeconómicos para los residentes locales, como oportunidades de empleo como operadores turísticos, guías turísticos, personal de hostelería, artesanos, comerciantes de souvenirs, etc.

Originalidad/valor

Este estudio integra la conservación del arte, las ciencias medioambientales, la preservación del patrimonio cultural y los aspectos sociales para abordar los retos del turismo mundial. Centrándose en un sitio de importancia mundial, ofrece estrategias prácticas para la conservación de las obras de arte, la gestión del turismo y los problemas medioambientales. Estas recomendaciones aportan soluciones reales aplicables a lugares patrimoniales de todo el mundo, tendiendo puentes entre el análisis científico y las percepciones sociales y culturales.

Article
Publication date: 28 February 2024

Antonio Salvi, Vittorio Boscia, Niccolò Nirino, Gazi Mahabubul Alam and Felice Petruzzella

This study investigates the relationship between the individual’s levels of innovativeness (ILI) and the individual’s intention to finance (IIF) an equity crowdfunding campaign to…

Abstract

Purpose

This study investigates the relationship between the individual’s levels of innovativeness (ILI) and the individual’s intention to finance (IIF) an equity crowdfunding campaign to understand whether and to what extent individuals' personalities (IP) can foster crowdfunding success.

Design/methodology/approach

OLS models are applied based on survey data collected from 385 US and UK citizen respondents. Further, the baseline relationship between ILI and IIF is broken down on the basis of the interactions with two behavioral characteristics: proactive personality (PP) and openness to experience (OE).

Findings

Results show a positive relationship between individual’s levels of innovativeness and the individual’s intention to finance an equity crowdfunding campaign. Furthermore, this relationship continues to be positive when moderators are introduced in the models, demonstrating that PP and OE are personal traits that strengthen the main relationship.

Originality/value

Our findings contribute to enriching the stream of literature according to which equity crowdfunding is a helpful tool not only able to bridge the financial gap of companies during the first phase of their life cycle. The findings also contribute to the development of the innovation process, creating also a social identity within the crowdfunding community.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 22 February 2024

Wenhao Zhou and Hailin Li

This study aims to propose a combined effect framework to explore the relationship between research and development (R&D) team networks, knowledge diversity and breakthrough…

Abstract

Purpose

This study aims to propose a combined effect framework to explore the relationship between research and development (R&D) team networks, knowledge diversity and breakthrough technological innovation. In contrast to conventional linear net effects, the article explores three possible types of team configuration within enterprises and their breakthrough innovation-driving mechanisms based on machine learning methods.

Design/methodology/approach

Based on the patent application data of 2,337 Chinese companies in the biopharmaceutical manufacturing industry to construct the R&D team network, the study uses the K-Means method to explore the configuration types of R&D teams with the principle of greatest intergroup differences. Further, a decision tree model (DT) is utilized to excavate the conditional combined relationships between diverse team network configuration factors, knowledge diversity and breakthrough innovation. The network driving mechanism of corporate breakthrough innovation is analyzed from the perspective of team configurations.

Findings

It has been discerned that in the biopharmaceutical manufacturing industry, there exist three main types of enterprise R&D team configurations: tight collaboration, knowledge expansion and scale orientation, which reflect the three resource investment preferences of enterprises in technological innovation, network relationships, knowledge resources and human capital. The results highlight both the crowding-out effects and complementary effects between knowledge diversity and team network characteristics in tight collaborative teams. Low knowledge diversity and high team structure holes (SHs) are found to be the optimal team configuration conditions for breakthrough innovation in knowledge-expanding and scale-oriented teams.

Originality/value

Previous studies have mainly focused on the relationship between the external collaboration network and corporate innovation. Moreover, traditional regression methods mainly describe the linear net effects between variables, neglecting that technological breakthroughs are a comprehensive concept that requires the combined action of multiple factors. To address the gap, this article proposes a combination effect framework between R&D teams and enterprise breakthrough innovation, further improving social network theory and expanding the applicability of data mining methods in the field of innovation management.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 11 April 2024

Yun Li, Zhe Cheng, Jiangbin Yin, Zhenshan Yang and Ming Xu

Infrastructure financialization plays a critical role in infrastructure development and urban growth around the world. However, on the one hand, the existing research on the…

Abstract

Purpose

Infrastructure financialization plays a critical role in infrastructure development and urban growth around the world. However, on the one hand, the existing research on the infrastructure financialization focuses on qualitative and lacks quantitative country-specific studies. On the other hand, the spatial heterogeneity and influencing factors of infrastructure financialization are ignored. This study takes China as a typical case to identify and analyze the spatial characteristics, development process and impact factors of infrastructure financialization.

Design/methodology/approach

To assess the development and characteristics of infrastructure financialization in China, this study constructs an evaluation index of infrastructure financialization based on the infrastructure financialization ratio (IFR). This study then analyzes the evolution process and spatial pattern of China's infrastructure financialization through the spatial analysis method. Furthermore, this study identifies and quantitatively analyzes the influencing factors of infrastructure financialization based on the spatial Dubin model. Finally, this study offers a policy suggestion as a governance response.

Findings

The results demonstrate that infrastructure financialization effectively promotes the development of infrastructure in China. Second, there are significant spatial differences in China’s infrastructure financialization. Third, many factors affect infrastructure financialization, with government participation having the greatest impact. In addition, over-financialization of infrastructure has the potential to lead to government debt risks, which is a critical challenge the Chinese Government must address. Finally, this study suggests that infrastructure financialization requires more detailed, tailored,and place-specific policy interventions by the government.

Originality/value

This study not only contributes to enriching the knowledge body of global financialization theory but also helps optimize infrastructure investment and financing policies in China and provides peer reference for other developing countries.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

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