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In recent years, with the steady growth of China’s economy and world’s vacation market, and powered by the growing and significant large demands of Chinese overseas travel, an emergent trend of international development by major Chinese tourism groups has attracted notice by scholars and practitioners and this is obvious especially in the private sector. With this as the background, this paper aims to explore how China’s leading tourism companies expand their business internationally through a case study approach.

Both the academic literature and practitioners have long noted the need for an equity investment mechanism for worker-controlled firms that alleviates investor anxieties without undermining internal workplace democracy. The purpose of this paper is to outline one such possible mechanism.

The proposal locks together the interests of workers and external investors, via non-voting shares with dividends set by a pre-agreed value-added sharing formula. Each worker is paid a base wage, with the average across the firm being a pre-defined multiple of the national minimum wage. Any additional surplus is split into a number of equal “slices”, with each share receiving one slice as its dividend, and the average worker receiving a pre-agreed number of slices as a bonus.

Workers have an incentive to maximise their own incomes, and in so doing, will also automatically maximise the dividends received by investors, obviating the need for the shares to have normal voting rights. Working on this principle of aligned interests, the authors also discuss reinvestment, worker ownership of non-voting shares and possibilities for a secondary share market. The authors show how this proposal will be a significant step in aligning the interests of investors with owner-workers in a democratic, negotiated way that shares both risk and returns, thus making worker-controlled firms more attractive to equity investment.

In light of the recognised problem of underinvestment in worker-controlled firms and the risk of their degeneration, this paper will interest both academics and practitioners in employee ownership, co-operatives and various forms of workplace democracy.

The purpose of this paper is to explore fans’ reactions to corporate naming rights sponsorship of football club stadia and identify a range of contextual factors impacting these reactions.

A qualitative, quasi-ethnographic research design is adopted, focusing on three football clubs in North West England. Data are gathered through online message board discussions, focus groups and auto-ethnographic approaches.

Geographic, image and functional dimensions of sponsorship fit are noted as contextual factors in determining fans’ reactions to corporate stadium names. It is also proposed that some forms of fit (in particular geographic fit) are more important than others in this regard. Beyond issues of fit, three additional contextual factors are identified that potentially influence fans’ reactions to corporate stadium names: prior involvement with the club by the sponsor; fans’ perceived impact of the sponsorship investment; and whether the stadium is new or long-established.

Future research might examine the relative importance and implications of the identified contextual factors, alongside seeking other potential areas of contextual framing.

Sponsorship naming rights negotiations need to be sensitive to a variety of contextual factors. Furthermore, sponsors would do well to have a good awareness of their own brand image and its congruency with the identity of the club and fan base.

This nuanced, qualitative analysis extends existing, quantitative-based research by identifying a range of contextual factors which shape fans’ reactions to corporate stadium naming.

In this study, the authors examine consumer attitudes toward a professional soccer club’s proenvironmental initiatives and evaluate whether key themes are consistent with those found in previous research of fans in different sporting contexts.

The authors analyzed empirical material provided by 147 highly identified supporters of a Major League Soccer team. Using template analysis, the authors compared codes, categories and themes with those previously identified in a reference group of National Football League (NFL) fans.

Twenty-three preliminary codes, nine categories and four themes were established by the researchers. Three themes – Considering Environmental Action, Business Insights and Impacting the Fan Experience – were all consistent with the NFL reference group. A fourth theme, Public Visibility, focused on the possibility that the club’s proenvironmental initiatives could provide a competitive advantage over rival cities and positively influence local programming and behaviors.

The results of this study support the notion that fan characteristics may differ across various demographic and structural contexts and fans’ recognition that a club could leverage its community standing to promote proenvironmental action.

Entrepreneurs tend to be self-styled “idea” people. They often believe they have the next “Big Concept”‐one which could change the world, reaffirm their self-worth, and, of course, make them and their venture team a fortune. In contrast, as they build a company to implement their business dream, entrepreneurs also tend to eschew or trivialize administrative details. Why should they waste their creative juices on minutia? As a result of this insensitivity to detail, these captains of capitalism often trip in their entrepreneurial journey. For example, they might:

1. •

   Forget to remit payroll taxes on schedule.

2. •

   Fail to document the justification underpinning the dismissal of a key employee.

3. •

   Allow the company℉s liability insurance to lapse.

4. •

   Neglect to report sales usage tax.

5. •

   Verbally grant employee incentive stock options during an informal luncheon meeting, at a yet-to-be-determined exercise price and without the board of directors℉ approval.

Forget to remit payroll taxes on schedule.

Fail to document the justification underpinning the dismissal of a key employee.

Allow the company℉s liability insurance to lapse.

Neglect to report sales usage tax.

Verbally grant employee incentive stock options during an informal luncheon meeting, at a yet-to-be-determined exercise price and without the board of directors℉ approval.

A network of partners helps and assists a crowdfunding platform (CFP) in scouting, assessing and selecting projects. This cooperation increases the number of successful projects by attracting a sizable number of investors, proponents and attracting marginal investors when a campaign falls short of the threshold for success. This study examines the role of partner networks in a platform ecosystem, specifically in terms of number of different partners and their diversity in the performance of the crowdfunding campaign.

Using logistic and linear regressions, we analyze a sample of 233 projects, both funded and not funded, launched by 10 Italian equity CFPs between 2014 and 2018.

Our findings indicate that the variety of partners in a platform's network influence the probability of campaign success and how much capital the proponent company raises. CFPs are resource-constrained new ventures, and a network with a wider variety of partners ensures the strategic resources and competencies that are required in an early stage market, thus facilitating campaign funding.

The variety of partner networks could help CFPs to offer unique and strategic value propositions and define the competitive positioning of platforms.

This study provides a deeper understanding of the determinants of equity crowdfunding campaign performance by emphasizing the role of CFP's network of partners on the entire crowdfunding ecosystem and its underlying organizational elements.