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Book part

Qiongwei Ye and Baojun Ma

Internet + and Electronic Business in China is a comprehensive resource that provides insight and analysis into E-commerce in China and how it has revolutionized and…

Abstract

Internet + and Electronic Business in China is a comprehensive resource that provides insight and analysis into E-commerce in China and how it has revolutionized and continues to revolutionize business and society. Split into four distinct sections, the book first lays out the theoretical foundations and fundamental concepts of E-Business before moving on to look at internet+ innovation models and their applications in different industries such as agriculture, finance and commerce. The book then provides a comprehensive analysis of E-business platforms and their applications in China before finishing with four comprehensive case studies of major E-business projects, providing readers with successful examples of implementing E-Business entrepreneurship projects.

Internet + and Electronic Business in China is a comprehensive resource that provides insights and analysis into how E-commerce has revolutionized and continues to revolutionize business and society in China.

Details

Internet+ and Electronic Business in China: Innovation and Applications
Type: Book
ISBN: 978-1-78743-115-7

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Article

Antonella Francesca Cicchiello

The purpose of this paper is to assess the role that public policies may have in re-shaping entrepreneurial ecosystems and supporting the creation of functioning…

Abstract

Purpose

The purpose of this paper is to assess the role that public policies may have in re-shaping entrepreneurial ecosystems and supporting the creation of functioning ecosystems based on new forms of finance, i.e. the equity-based crowdfunding.

Design/methodology/approach

The paper first identifies and examines the European policies developed to encourage the use of equity crowdfunding in entrepreneurial finance from 2003 to 2018. Then, it reviews national regulatory frameworks for crowdfunding, and analyses the barriers that constrain the growth of national crowdfunding markets. Finally, the paper addresses the issue of regulatory harmonisation by underlining its importance in building an entrepreneurial ecosystem based on crowdfunding.

Findings

Building an entrepreneurial ecosystem based on crowdfunding requires better policy coordination between European countries and readiness to take concerted actions. National authorities must look at the crowdfunding phenomenon from a European perspective and align their policies. European policymakers must import best practices from thriving national ecosystems by implementing less bureaucratic policies and with greater impact on entrepreneurial activity.

Social implications

In a post-crisis economy, the architecture of entrepreneurial ecosystems must evolve and focus on new financing alternatives ensuring the survival of successful businesses.

Originality/value

The paper offers a new perspective on entrepreneurship looking at the formation and development of new ecosystems around equity crowdfunding platforms. It also provides a relevant starting point for subsequent studies into this field.

Details

Journal of Entrepreneurship and Public Policy, vol. 8 no. 3
Type: Research Article
ISSN: 2045-2101

Keywords

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Article

Alan D. Smith

The purpose of this paper is to provide practitioners of management and information technology a sense of how the automobile industry uses the internet to market its products.

Abstract

Purpose

The purpose of this paper is to provide practitioners of management and information technology a sense of how the automobile industry uses the internet to market its products.

Design/methodology/approach

A review of the applied literature on practices and actual examples of companies' practices (obtained through personal interviews and basic empirical analysis of managers located in Pittsburgh, PA) was conducted. An analysis of data derived from web‐enabled and highly educated professionals from the metropolitan area of Pittsburgh, PA, resulted in 60 interviews from an initial sample of over 155 professionals from three area firms. Techniques reviewed include online advertising, data mining from web sites, other conventional advertising of the company web site and positioning their vehicles among the various search engines.

Findings

The statistical findings lead to the general conclusion that people are using the internet with greater regularity to gain information about vehicle purchases. However, the vast majority of those surveyed still preferred to ultimately complete the purchase in person.

Practical implications

The findings show that while dealers are forced to be more competitive in terms of financing and pricing, dealerships are not in danger of being cut from the vehicle purchase model, at least not in the short‐term.

Originality/value

The internet has proven to be an invaluable tool for consumers who are either considering the purchase of a new car or actually in the process of doing so. In today's market, automotive manufacturers must have a significant market presence to compete and, in many cases, just to survive in a business environment where several of the major automotive manufacturers must find new markets overseas.

Details

Online Information Review, vol. 33 no. 1
Type: Research Article
ISSN: 1468-4527

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Article

Thomas Niemand, Martin Angerer, Ferdinand Thies, Sascha Kraus and René Hebenstreit

The purpose of this paper is to identify and disentangle the home bias in equity crowdfunding to better understand irrational decision making of investors.

Abstract

Purpose

The purpose of this paper is to identify and disentangle the home bias in equity crowdfunding to better understand irrational decision making of investors.

Design/methodology/approach

A first choice-based conjoint (CBC) experiment with 217 participants was conducted in central Europe in order to single out different factors contributing to an apparent home bias of capital providers.

Findings

The authors find that investors show an avoidance of foreign currency, while payment methods seem to have no considerable influence on the decision making. Furthermore, participants significantly decided against national legislation in favor for EU legislation.

Research limitations/implications

This study predominantly helps to gain deeper insights into influencing factors in crowdfunding markets with a special concern on a cross-border context. For capital-seeking companies, the home bias of potential investor has to be taken into account, when designing a crowdfunding campaign. For legislators, the apparent influence of the legal framework should serve as a wake-up call to consolidate the regulation of crowdfunding in the EU.

Originality/value

This is the first CBC experiment application in a cross-border crowdfunding context. It provides deeper understanding of the importance of geographical proximity between crowdfunding projects and investors and calls for further research to examine how such an effect could be diminished.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 24 no. 4
Type: Research Article
ISSN: 1355-2554

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Article

Manuchehr Shahrokhi

This purpose of this paper is to provide an overview of the status of e‐finance and discuss related issues and challenges. Provides data about growth of e‐finance in the…

Abstract

Purpose

This purpose of this paper is to provide an overview of the status of e‐finance and discuss related issues and challenges. Provides data about growth of e‐finance in the last decade. Introduces advances and innovations in e‐finance and challenges facing the financial services and IT industries.

Design/methodology/approach

The paper employs the archival method of reviewing related literature (theoretical, applied and empirical) and organizing and presenting the topics to provide an overview of e‐finance status.

Findings

The major contributions and finding of this paper include all areas of e‐finance, application of technology to e‐finance, growth of the e‐finance in the financial services industry.

Research limitations/implications

The paper provides areas of e‐finance that face many different challenges and calls for further research in a number of areas related to e‐finance technology and the interface of financial services and IT.

Practical implications

The paper brings all scattered information and data about e‐finance under one umbrella that would make scholars and practitioners aware of advances in e‐finance and applications of innovations and new technology to financial services provided.

Originality/value

The main value or contribution of this paper is bringing together most of available literature, advances, innovations, application of IT in the financial services industry and showing how organizations could benefit from such innovations. It also provides ideas to scholars for further research in this area.

Details

Managerial Finance, vol. 34 no. 6
Type: Research Article
ISSN: 0307-4358

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Book part

Alina Dibrova

After the great economic crisis of 2008 the absolute outcome of which is still argued, the topic of alternative investment possibilities, such as business angels…

Abstract

After the great economic crisis of 2008 the absolute outcome of which is still argued, the topic of alternative investment possibilities, such as business angels, crowdfunding, peer-to-peer investments, were broadly highlighted in the European Union member states. Few suggest that in spite of the floating understanding of the topic, alternative investments managed to significantly increase the access to finance for start-ups and small and medium enterprises (SMEs) providing the overall support to economic recovery. The positive effects of alternative investment market development is now a matter of fact – recent studies suggest European alternative finance market to reach 2,957 million of euro by 2014. On the other hand, the absence of overall awareness of entrepreneurs about the alternative investment possibilities, still weak legislative regulation, market specifics, and other challenges alike are hindrances that do persist. The main aim of this paper is, while acknowledging the key aspects of crowdfunding, to form a grounded understanding to what extent crowdfunding might support SMEs on their way to solve the challenges of access to finance. In order to reach the goal of the research an analysis of investment specifics, prior experience of the crowdfunding investments as well as core financial needs of SMEs will be acknowledged. The main finding of the paper suggests that crowdfunding while being an excellent tool for social or entertainment project financing can hardly be a significant financing tool for the European SMEs.

Details

Contemporary Issues in Finance: Current Challenges from Across Europe
Type: Book
ISBN: 978-1-78635-907-0

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Article

Peter Yeoh

This paper aims to examine the implications of exemptions to facilitate small businesses’ access to crowdfunding (CF) schemes. The aftermath of the 2008 global financial…

Abstract

Purpose

This paper aims to examine the implications of exemptions to facilitate small businesses’ access to crowdfunding (CF) schemes. The aftermath of the 2008 global financial crisis and even now witnessed many small profits and non-profits encountering significant difficulties in accessing funding from the conventional sources and on many occasions have to turn to the newly emerging Internet-enabled donation or product compensation CF schemes. Access to securities-based CF schemes has, however, been seriously difficult due to securities laws obstacles. Regulatory authorities in the USA and the UK have responded with exemptions to facilitate small businesses’ access to CF.

Design/methodology/approach

The paper driven by the qualitative doctrinal approach would rely extensively on primary data from the applicable regulations and secondary data from industry sources and other publicly available commentaries.

Findings

Securities-based CF schemes hitherto heavily restricted in the USA and the UK are under current regulatory interventions-accorded exemption status, thereby enabling enhanced access for those small businesses seeking alternatives to conventional financing and enhanced investment opportunities for small investors. The paper’s preliminary analysis suggests that the proposed new regulatory rules in the USA and the UK are generally well-balanced with adequate small investors’ protection, while simultaneously not hampering the innovative growth of small businesses with excessive restrictions. Further, the preparedness of the regulators to fine-tune the proposed rules as the CF industry evolves would likely ensure its orderly growth, thereby helping to address various humanitarian and social challenges in these jurisdictions.

Originality/value

The added value of the analysis lies in its substantive evaluation of the proposed rules in both jurisdictions to ascertain the feasibility of securities-based CF schemes as alternatives for small businesses in relation to traditional financing and enhanced investment opportunities for small unsophisticated investors.

Details

Journal of Financial Regulation and Compliance, vol. 22 no. 4
Type: Research Article
ISSN: 1358-1988

Keywords

Content available
Article

Zaiyu Huang, Candy Lim Chiu, Sha Mo and Rob Marjerison

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.

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 12 no. 3
Type: Research Article
ISSN: 2398-7812

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Article

Jianguo Zhuo, Yuwei Hu and Min Kang

Due to the rapid development and innovation in the Internet-based technology, conventional banks are under pressure and have to compete with Internet-based finance. This…

Abstract

Purpose

Due to the rapid development and innovation in the Internet-based technology, conventional banks are under pressure and have to compete with Internet-based finance. This has made banks adopt measures to improve operational efficiency and reduce input and increase output.

Design/methodology/approach

The authors had proposed a two-stage fairness concern efficiency model based on the classical theory of data envelopment analysis (DEA) and performed an empirical study to measure agricultural loan efficiency in the 20 major Chinese banks.

Findings

The findings of the empirical analysis are as follows: (1) peer-induced fairness concern has no impact on deposit efficiency in a centralized bank supply chain; (2) The China Merchants Bank (CMB) has the third lowest deposit efficiency; (3) monotonicity of loan efficiency with input allocation depends on a bank's ownership structure; (4) efficiency ranks are strongly affected by the fairness concern; (5) most Chinese banks show a low agricultural loan efficiency.

Originality/value

This paper contributes to the literature in several ways. First, to the best of the authors’ knowledge, this is the first attempt to analyze agricultural loan efficiency for a bank supply chain system with the fairness concern. This work reveals the hidden factor that restricts loan efficiency of Chinese banks. Second, the proposed fairness concern two-stage DEA model has shown good ability for full ranking. It can provide a new perspective to the classical DEA literature for ranking decision-making units (DMUs). Third, the authors have demonstrated empirical bank efficiency for the 20 major Chinese banks.

Details

Industrial Management & Data Systems, vol. 121 no. 4
Type: Research Article
ISSN: 0263-5577

Keywords

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Article

Demetris Vrontis, Michael Christofi, Enrico Battisti and Elvira Anna Graziano

This paper explores knowledge sharing (KS) and intellectual capital (IC) impacts on the success rate of equity crowdfunding (EC) campaigns in the Italian market, which…

Abstract

Purpose

This paper explores knowledge sharing (KS) and intellectual capital (IC) impacts on the success rate of equity crowdfunding (EC) campaigns in the Italian market, which represents a new model for financing entrepreneurial initiatives.

Design/methodology/approach

The relation between KS, IC and the success rate of EC campaigns is analysed with a panel regression that measures IC through the value added intellectual coefficient. Social network analysis is used to measure KS in the users' network on Twitter for EC campaigning. Specifically, the authors consider the information users exchange on social networks as a proxy of KS and identify the hubs influencing information dissemination, the size and strength of networks for each EC campaign. Finally, the success rate of EC campaigns is a ratio of the number of positive campaigns to the total number of campaigns for each platform.

Findings

The success rate of EC campaigns is positively related to IC and significantly and positively related to the number of connections the EC platforms have.

Practical implications

The positive relationship between the hub role of social network platforms and the success of EC campaigns provides an important signal to crowdfunding operators. As more potential investors focus on an EC campaign, a bandwagon effect could involve uninformed investors. This result is crucial in order to better understand how social media activity affects crowdfunding success.

Originality/value

Although the literature has examined the impact of KS on general firm performance and the mediating role of intellectual capital, no prior studies have examined the impacts of KS and IC on the success rate of EC campaigns in a specific market.

Details

Journal of Intellectual Capital, vol. 22 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

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