Search results

This paper aims to ascertain whether and to what degree universities are becoming organizational actors globally. Utilizing an original dataset of a sample of 500 globally oriented universities, we explore how universities have increasingly become organizational actors as is the case of American universities. We consider the following indicators of university transformation into organization actors: development or institutional advancement, diversity or inclusion, legalization, and internationalization goals and structures. We find that these globally oriented universities have created international, development, and legal offices. Surprisingly, nearly half of the universities in our sample also have diversity offices. These “getting organized” indicators are somewhat similar to what holds for American universities, suggesting that there is globalization of organizational actorhood among universities. At the same time, however, we find that there are pronounced regional differences, especially when it comes to organizing around diversity and legal affairs.

The purpose of this study is to provide models to analyze the efficiency of programs and efficiency of fundraising to apply the models to non-profit organizations (NPOs) in Korea and to draw out improvement points of inefficiency using data envelopment analysis (DEA).

Using DEA, this study analyzed the program efficiency and fundraising efficiency of 22 Korean NPOs in the field of humanitarian assistance.

Of 22 NPOs, 15 were identified as being efficient in the program efficiency and 7 of 15 NPOs were found efficient in the fundraising efficiency. In all, four organizations were found efficient in both the program and the fundraising efficiency. Using CCR and BCC model, this study proposed the cause of inefficiency and state of returns of scale.

This study presents non-profit efficiency evaluation models regarding program efficiency and fundraising efficiency. This study provides the inefficient DMUs with their reference set of efficient DMUs to improve efficiency and the cause of inefficiency, whether the inefficiency is because of the pure technical inefficiency or the scale inefficiency. This study also indicates the state of variable returns to scale to propose the way of improving inefficiency by controlling the scale of inputs. The methods and the results of this study can serve as a model for researchers and practitioners to follow when evaluating efficiency in the NPOs.

This study has the value of performing the empirical studies of efficiency analysis of Korean NPOs and providing non-profits with the model of efficiency analysis in programs and fundraising activities and basis for establishing strategies to improve both efficiencies.

Crowdfunding is an increasingly popular channel for project fundraising for entrepreneurial ventures. Such efforts require fundraisers to develop and manage a crowdfunding campaign over a period of time and several stages. Thus, the authors aim to identify the stages fundraisers go through in their crowdfunding campaign process and how their engagement evolves throughout this process.

Following a multiple case study research design analysing six successful campaigns, the current study suggests a taxonomy of stages the fundraisers go through in their crowdfunding campaign management process while identifying the types of engagement displayed and their relative intensity at each of these stages.

The study proposes a five-stage process framework (pre-launch, launch, mid-campaign, conclusion and post-campaign), accompanied by a series of propositions outlining the relative intensity of different types of engagement throughout this process. The authors show that engagement levels appear with high intensity at pre-launch, and to a lesser degree also at the post-launch stage while showing low intensity at the stages in between them. More specifically, cognitive and behavioural engagement are most prominent at the pre- and post-launch stages. Emotional engagement is highest during the launch, mid-launch and conclusion stages. And social engagement maintains moderate levels of intensity throughout the process.

This study focuses on the campaign process using engagement theory, thus identifying the differing engagement patterns throughout the dynamic crowdfunding campaign management process, not just in one part.

Crowdfunding has become one of the preferred mechanisms to raise funds by startups and small entrepreneurs. As such, this paper aims to develop an appropriate framework for Sharīʿah-compliant equity-based crowdfunding (SEC) for entrepreneurship development in Malaysia.

The research begins by analyzing the intention of 200 entrepreneurs in Kuala Lumpur and Selangor regarding the use of crowdfunding to raise capital. The analysis is based on the theory of reasoned action (TRA), which is also associated with the technology acceptance model (TAM) and is effected by using structural equation modeling (SEM).

The entrepreneurs agree on the ease of use of crowdfunding in raising capital, although it appeared that they are quite reluctant to share their business ideas online. Subsequently, an SEC framework is proposed, to further enhance entrepreneurship development in Malaysia particularly in meeting the need for raising funds in line with Sharīʿah (Islamic law) principles.

This paper aims to contribute more to the development of a blueprint for an SEC platform for market players and regulators in Malaysia.

This paper also aims to highlight the growing needs of entrepreneurs, particularly in Malaysia to have a Sharīʿah-compliant alternative to raise funds via crowdfunding.

This paper makes two main contributions. First, it provides evidence on Malaysian entrepreneurs’ intention to use crowdfunding for fundraising through TAM and SEM analysis. Second, it proposes an SEC framework for the development of entrepreneurs in Malaysia.

The purpose of this paper is to develop initial evidence about the nature and features of crowdfunding in China, given it is largely unregulated regulatory frameworks.

The paper used extensive desk research using data collected from the public and private sectors, after which the data was analyzed parallel to existing academic literature, that is, institutional context by Bruton et al. (2014). This paper uncovered patterns of development, profiling crowdfunding platforms, examining the regulatory landscape and providing antecedents of successful crowdfunding projects in China.

When the traditional financial markets are hard to reach, micro, small and medium enterprises (MSMEs) were starved for capital. Crowdfunding can play a major role in funding and risk sharing. It is an innovative and dynamic vehicle for MSMEs as well as enthusiastic investors in China. Since its initial introduction to China in 2009, crowdfunding has gained substantial popularity in a relatively short period. Currently, there is still not an identifiable guideline on how to delineate the significance of the crowdfunding platform. The development of crowdfunding in China faces a few unresolved key issues. As researchers exploring this phenomenon in new ways, crowdfunding platforms can be enhanced in a manner that benefits the capital seeker, investors and society as a whole.

There is a dearth of information on start-up crowdfunding in Asia. With little data available to analyze, so this paper hopes to contribute to knowledge and provide valuable information to researchers and industry representations. Crowdfunding represents a potentially disruptive change in the way that new ventures are funded. This paper represents an initial analysis in the study of new ventures in China. Finally, the authors provide recommendations for entrepreneurs, investors and policymakers as well as researchers and practitioners with suggestions about yet unexplored avenues of research.

Venture capital (VC) is an essential element in healthy entrepreneurial environments; therefore, many countries in developing entrepreneurial economies support the industry via direct or indirect government interventions. The purpose of this study is to examine through the example of the Hungarian market, whether direct or hybrid state involvement has contributed more to the growth of the invested enterprises. The findings are relevant in the design of government VC schemes and in the contracts mitigating the moral hazards inherent in government funding.

The basis of empirical research is a unique hand-collected database covering Hungarian government-backed VC (GVC) investments. Based on the financial data of investee firms, the authors investigate whether firms financed by hybrid VC involving market participants are able to outperform firms that receive pure public financing using panel regression.

Based on Hungarian evidence, hybrid VC-backed firms generated lower growth and employment than their purely government-backed peers. Both schemes showed meagre innovation activity. The conclusion is that because of the conflict of private and economic policy objectives in hybrid financing, the exposure of hybrid risk capital to moral hazard is higher than that of pure public financing. Private interests in hybrid funds can only improve investment efficiency if they are structured along the lines of market-based independent financial intermediation and the contracts imitate the ones existing amongst limited and general partners in private schemes.

The research covers the data of Hungarian government-backed firms by tracking the full range of 86 investments made in the purely government scheme and 340 firms that received funding in the hybrid scheme. The research focuses on two government initiatives, and the results are influenced by the specific regulation of the programs; therefore, the results cannot be generalized for all government agendas; they are indicative in the designs of the agendas.

There is a limited number of empirical studies investigating the impact of VC in developing markets, especially in the Central and Eastern Europe region. This firm-level research on the impact of public VC can help improve the effectiveness of development policies. By analysing the entirety of investments of a VC program that is near to its completion, the authors provide new insight into the efficiency and prospects of GVC schemes in the region.

Many studies have analysed the impact of various variables on the ability of companies to raise capital. While most of these studies are sector-agnostic, literature on the effects of macroeconomic variables on sectors that established over the last 20 years like property technology and financial technology, is scarce. This study aims to identify macroeconomic factors that influence the ability of both sectors and is extended by real estate variables.

The impact of macroeconomic and real estate related factors is analysed using multiple linear regression and quantile regression. The sample covers 338 observations for PropTech and 595 for FinTech across 18 European countries and 5 deal types between 2000–2001 with each observation representing the capital invested per year for each deal type and country.

Besides confirming a significant impact of macroeconomic variables on the amount of capital invested, this study finds that additionally the real estate transaction volume positively impacts PropTech while the real estate yield-bond-gap negatively impacts FinTech.

For PropTech and FinTech companies and their investors it is critical to understand the dynamic with mac-ro variables and also the real estate industry. The direct connection identified in this paper is critical for a holistic understanding of the effects of measurable real estate variables on capital investments into both sectors.

The analysis fills the gap in the literature between variables affecting investment into firms and effects of the real estate industry on the investment activity into PropTech and FinTech.

The aim of our research is to give empirical and theoretical solutions to some criticalities of the original International Integrated Reporting Framework (IIRF). Indeed, it takes as value creation only the increase of the capitals triggered by business activities, overlooking the fulfilment of the institutional mission that is the actual value creation lever.

The present paper introduces a case study aimed at implementing the IIRF in an Italian non-profit healthcare organisation. The research is based on theory building from cases, action research and interventionist approach. IIRF was adopted because of its claimed ability to support the communication process to stakeholders and the control of value creation. However, IIRF shows several weaknesses.

An adjusted version of IIRF is suggested, highlighting the role played by IC in the organisational business model and in the value creation process. The adjusted seems able to foster awareness of the role IC in value creation in healthcare organisations.

In this paper no one of the singles pieces of the adjusted framework is innovative by itself, but jointly they give raise to an innovative solution, able to address the disclosing and managerial needs of the examined organisation. The single case study permits to us to test the weaknesses of the IIRF claimed in the literature, to suggest some adjustments to the original framework and to validate their effectiveness. Thanks to the single case study we then built theoretical constructs developing theory inductively; now the suggested framework can be further tested and validated in other organisations.

The paper introduces an innovative approach to IC reporting and disclosure in healthcare organisations. This is relevant not only for external communication but also for internal aims supporting managers in decision and actions.

The aim of this research is to contribute to the existing literature about the entrepreneurial conditions in crowd-based contexts by describing how different European countries regulate equity crowdfunding market in order to incentive the investments and protect investors.

Based on a legal acts' analysis, we conduct a qualitative study comparing the crowdfunding regulation addressed to investors. In particular, we focus our analysis on the European countries with the highest concentration of crowdfunding platforms (i.e. the UK, Germany, France, Italy and Spain).

The results show that some countries, such as the UK, Germany and France, present an investor-oriented approach based on non-restrictive regulation, while other countries, such as Spain and Italy, have a restrictive approach that protects investors excessively and discourages them. In particular, the case study of France shows how the introduction of unrestricted regulation can produce positive effects on the volume of crowdfunding transactions.

The paper is addressed to investors, policymakers and intermediaries (platforms) to help the first in orienting themselves between the different crowdfunding regulations and the latter in aligning and orchestrating rules and norms.

This is the first study that analyses the role of investor-oriented regulations in the promotion of entrepreneurship through the identification of four key factors to monitor equity crowdfunding regulations.

The purpose of this paper is to examine how advertising is used by real estate companies as an instrument for managing the adverse effects of a catastrophe.

Through a theoretical analysis, types of post-disaster advertising messages were identified. On the basis of the likely variations in post-disaster advertising, a content analysis was conducted of a sample of 4,150 property print advertisements to identify advertising messages related to the earthquake. Finally, the message changes in these earthquake-related advertisements were evaluated and compared with the dimension of time to explore the development of advertising strategies.

The authors found that 12 types of advertising messages were used by developers in response to the Wenchuan earthquake. The initial advertising strategy was mainly to manage public relations, then the strategy was to reduce or compensate for the increased earthquake risk perceptions of buyers.

The findings provide valuable references for helping enterprises adopt effective advertising messages and strategies to reduce the negative effects of disasters.

There are only a few studies on advertising campaigns, especially in the real estate industry, that have been conducted in the wake of catastrophes. This study sought to expand upon the scarce findings in this particular field.