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1 – 10 of 16Raouf Jaziri and Mohammad Saleh Miralam
Psychological and entrepreneurial traits have been widely studied as explicative variables of encouraging entrepreneurial behavior, while their impact on innovative activity is…
Abstract
Purpose
Psychological and entrepreneurial traits have been widely studied as explicative variables of encouraging entrepreneurial behavior, while their impact on innovative activity is less explored. This study examines whether, how and why psycho-entrepreneurial traits and social networks effect innovativeness among women firm owners.
Design/methodology/approach
Analysis of data collected from 304 Saudi women entrepreneurs accompanied by business accelerators provides a wide support with some notable exceptions. We use Structural Equation Modeling technique to estimate how different constructs interact with each other and jointly affect directly or indirectly women's innovativeness behavior in Saudi Arabia.
Findings
Findings point out that innovativeness is positively and significantly affected by emotional intelligence, internal locus of control, entrepreneurial alertness and entrepreneurial self-efficacy. The construct of entrepreneurial self-efficacy mediates the relationship between both business and personal networks and innovativeness. However, professional forums and mentors have no significant effect on innovativeness.
Research limitations/implications
The sample selection is limited to two entrepreneurial support structures especially business accelerator and business incubator. Expanding the context to other support structures can reinforce the implications and provide more valuable results.
Practical implications
The findings are likely to be of applicability for improving women entrepreneurship by entrepreneurial support structures.
Originality/value
This research is original in the sense that it investigated useful insights of innovativeness among Saudi female entrepreneurs.
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The purpose of this paper is to examine whether Fama–French common risk-factor portfolio investors herd on a daily basis for five developed markets, namely, Europe, Japan, Asia…
Abstract
Purpose
The purpose of this paper is to examine whether Fama–French common risk-factor portfolio investors herd on a daily basis for five developed markets, namely, Europe, Japan, Asia Pacific ex Japan, North America and Globe.
Design/methodology/approach
To examine the herd behavior of common risk-factor portfolio investors, this paper utilizes the cross-sectional absolute deviations (CSAD) methodology, covering a daily data sampling period of July 1990 to January 2019 from Kenneth R. French-Data Library. CSAD driven by fundamental and non-fundamental information is assessed using Fama–French five-factor model.
Findings
The results do not provide evidence for herding under normal market conditions, either when reacting to fundamental information or non-fundamental information, for any region under consideration. However, Fama–French common risk-factor portfolio investors mimic the underlying risk factors in returns related to size and book-to-market value, size and operating profitability, size and investment and size and momentum of the equity stocks in European and Japanese markets during crisis period. Also, no considerable evidence is found for herding (on fundamental information) under crisis and up-market conditions except for Japan. Ancillary findings are discussed under conclusion.
Research limitations/implications
Further research on new risk factors explaining stock return variation may help improve the model performance. The performance can be improved by adding new risk factors that are free from behavioral bias but significant in explaining common stock return variation. Also, it is necessary to revisit the existing common risk factors in order to understand behavioral aspects that may affect cost of capital calculations (e.g. pricing errors) and valuation of investment portfolios.
Originality/value
This is the first paper that examines the herd behavior (fundamental and non-fundamental) of Fama–French common risk-factor investors using five-factor model.
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Randolph Nsor-Ambala and Godfred Amewu
This study aimed to explore the effect of Financial Innovation (FI) on economic growth in Ghana, with a dataset spanning 1960–2019, adopting a broader conceptualization of FI as…
Abstract
Purpose
This study aimed to explore the effect of Financial Innovation (FI) on economic growth in Ghana, with a dataset spanning 1960–2019, adopting a broader conceptualization of FI as the ratio of broad money to narrow money.
Design/methodology/approach
The study employs a non-linear autoregressive distributed lag (ARDL) time series econometric model to estimate data from the World Bank (1960–2019).
Findings
There is no evidence that FI significantly impacts economic growth. This could be due to the early and strict regulation of the financial technology (FIN-TECH) sector and the general inconclusiveness of the impact of financial development on economic growth.
Practical implications
Policymakers must empirically explore the impact of early and strict regulation on the transformational impact of FI.
Originality/value
The paper is among the first to apply a broader conceptualization of FI in estimating the impact of FI on economic growth.
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This study aims to examine the degree to which a selection of home country factors affects the proclivity of firms to internationalise. The study also proposes and tests a…
Abstract
Purpose
This study aims to examine the degree to which a selection of home country factors affects the proclivity of firms to internationalise. The study also proposes and tests a conceptual model that fuses institutional and resource-based theories to improve our understanding of firm internationalisation.
Design/methodology/approach
The study uses cross-sectional, national-level secondary data from the 2018 Global Entrepreneurship Development Institute and World Economic Forum data sets on global entrepreneurship and competitiveness indices for 137 countries. The data is analysed using correlation and hierarchical regression analysis to test the hypotheses.
Findings
The results indicate that national income, institutions, trade openness and availability of risk capital positively influenced firm internationalisation, while home-country networking had an inverse effect. However, home country infrastructure had no statistically significant effect on firm internationalisation.
Research limitations/implications
The findings highlight the importance of considering home country attributes in understanding the internationalisation of firms.
Originality/value
This study contributes to the body of knowledge by providing empirical evidence of the role of local factors on the internationalisation of entrepreneurial ventures. It also tests a novel conceptual model that integrates institutional and resource-based theories to explain the nuances of the internationalisation of business ventures globally.
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