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Article
Publication date: 5 March 2018

Gianni Romaní, Miguel Atienza, Felipe Campos, Pablo Bahamondes and Rodrigo Hernández

The purpose of this paper is to identify and analyse the characteristics of high net worth individuals (HNWI) as potential angel investor in Antofagasta, the main mining…

Abstract

Purpose

The purpose of this paper is to identify and analyse the characteristics of high net worth individuals (HNWI) as potential angel investor in Antofagasta, the main mining resource periphery in Chile.

Design/methodology/approach

Using the resource periphery approach and angel investing, the authors apply a survey to a sample of 37 HNWI in this region. The data collected were analysed using descriptive statistics.

Findings

Descriptive results show that the characteristics of these individuals do not significantly differ from those exhibited by angel investors in developed countries and that HNWI show a relative high willingness to become angels and to form a network.

Research limitations/implications

This paper has some limitations regarding the size and scope of the sample. It is a relatively short sample that does not allow to make more sophisticated analysis and it is only regional and, therefore, it is not possible to make a comparison at a national level.

Practical implications

From the perspective the design of policies and programmes oriented towards the promotion of a high potential start-ups in resources peripheries, it is essential to know what the characteristics of HNWI are and their propensity to become angel investors.

Originality/value

Research on angel investment has been traditionally based on the experience of core regions in developed countries. This type of funding source, however, can play a significant role in the promotion of development and diversification in resource peripheries due to the limited access that these areas have to traditional capital funds and the orientation of angel investment towards innovative ventures, but studies from this perspective are very scarce. In this sense, this paper is pioneer in this topic in peripheral regions.

Propósito

El objetivo de este artículo es identificar y analizar las características de las personas con alto patrimonio neto como potenciales inversionistas ángeles en Antofagasta, la principal fuente de recursos minerales en la periferia de Chile.

Diseño/metodología/enfoque

A través del enfoque de las periferias de los recursos naturales y la inversión ángel, se aplicó una encuesta a una muestra de 37 personas con alto patrimonio neto en esta región. La información recogida fue analizada usando estadística descriptiva.

Hallazgos

Los resultados muestran que las características de estas personas no difieren significativamente de los inversionistas ángeles en países desarrollados y muestran un fuerte deseo de ser inversionistas ángeles y formar una red.

Limitaciones/implicaciones

Este artículo presenta algunas limitaciones en relación al tamaño y el alcance de la muestra. Es una muestra relativamente pequeña y no permite realizar análisis más sofisticados y es solo a nivel regional y, por lo tanto, no es posible comparar a nivel nacional.

Implicaciones prácticas

Desde la perspectiva del diseño de políticas públicas y programas orientadas a la promoción de empresas de alto potencial de crecimiento en las periferias de recursos naturales, es esencial conocer las características de las personas con alto patrimonio neto y su propensión a convertirse en inversionistas ángeles.

Originalidad/valor

La investigación sobre inversión ángel ha estado tradicionalmente enfocada en la experiencia de las regiones centrales de los países desarrollados. Sin embargo, esta alternativa de financiamiento puede jugar un rol preponderante en la promoción del desarrollo y la diversificación en las periferias de recursos naturales debido al limitado acceso a fuentes de capital tradicionales y la orientación de la inversión ángel hacia emprendimientos innovadores en estas regiones. Los estudios desde esta perspectiva son muy escasos. En este sentido, este artículo es pionero en la investigación de la inversión ángel en las regiones periféricas de recursos naturales.

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Article
Publication date: 1 January 1996

Salvador Antón i Clavé, Francisco López Palomeque, Manuel J. Marchena Gómez, Sevilla Vera Rebollo and J. Fernando Vera Rebollo

The Geography of Tourism in Spain is now at a par in terms of its scientific production with other European countries. Since the middle of the '80s the quality and volume…

Abstract

The Geography of Tourism in Spain is now at a par in terms of its scientific production with other European countries. Since the middle of the '80s the quality and volume of contributions is analogous to the rest of the European Union, although as a part of University Geography in Spain it has not achieved the level of dedication reached by other subjects considering the importance of tourist activities to the economy, the society and the territory of Spain. It could be said that the Geography of Tourism in Spain is in the international vanguard in dealing with Mediterranean coastal tourism, with the relationships between the residential real estate and tourism sectors and with aspects related to tourism and leisure in rural and protected areas.

Details

The Tourist Review, vol. 51 no. 1
Type: Research Article
ISSN: 0251-3102

Keywords

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Book part
Publication date: 1 March 2016

Tony Phillips

This chapter presents a South American perspective on the environmental and financial sustainability of energy integration incorporating recent financial lessons from the…

Abstract

Purpose

This chapter presents a South American perspective on the environmental and financial sustainability of energy integration incorporating recent financial lessons from the United States and Europe. An illustrative project called UNASUR-GRID is presented to highlight new thinking on funding ecologically sensitive development (post-carbon electricity generation) and regional energy sovereignty via a new regional development bank for the Union of South American Nations (UNASUR) called Bank of the South, Banco del Sur (BDS) 1,2 . Sustainable BDS finance rules are presented that aim to break the link between development funding, environmental damage, and sovereign debt owed to banks outside the region, tapping into alternative finances to buffer the region against changes in global financial flows from core nations in the Great Recession.

Methodology/approach

The author attended presidential meetings of MERCOSUR and UNASUR supplementing this with presidential declarations comparing these with ongoing development planning from IIRSA, also interviewing a COSIPLAN representative. He also cooperated (as an independent researcher) with the Ecuadorian Central Bank research group called ‘New Architectures for Regional Finance’ (NAFR) and conducted technical interviews at South American energy institutes specialising in integration.

Findings

Development finance must reflect changes in both energy supply and demand while replacing fossil fuel inputs in electricity generation. Demand planning is necessary to attain sovereignty over a post-carbon electricity supply while maintaining dependability.

Practical implications

Successful energy cooperation is more than just energy infrastructure (UNASUR-GRID), cross-border confidence building is also required, reinforced by commercial treaties for energy exports and imports. Public and private national and regional energy companies need real incentives to trade internationally (improving competition) or renationalisation of supply and distribution may be necessary.

Originality/value

Highly original, this chapter incorporates government, UN and civil NGO inputs into primary research. BDS policy sources include government, ministerial and presidential speeches with interviews and participation in meetings with social movements. For indigenous ecological and social economic concepts such as Sumak Kawsay, the author has travelled extensively in South America and was an active participant at the first World People’s Conference on Climate Change and the 2010 Rights of Mother Earth (World Conference on Indigenous Peoples, 2014) in Cochabamba, Bolivia, along with ecologists and tribal representatives.

Details

Lessons from the Great Recession: At the Crossroads of Sustainability and Recovery
Type: Book
ISBN: 978-1-78560-743-1

Keywords

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Article
Publication date: 2 March 2015

Claudio Mancilla and José Ernesto Amorós

The purpose of this paper is to study the differentiated impact of factors that influence the propensity to entrepreneur in a sample of people in Chile. A distinction is…

Abstract

Purpose

The purpose of this paper is to study the differentiated impact of factors that influence the propensity to entrepreneur in a sample of people in Chile. A distinction is made between individuals that live in primary cities and secondary cities. The differentiating factors are socio‐cultural aspects (reference models – positive examples of entrepreneurs – and perception of social fear of failure) and the gender of the individual.

Design/methodology/approach

For the research data from the survey used in Chile by the Global Entrepreneurship Monitor for the years 2010 and 2011 were used. A logit model was used to determine the differentiated impact of the analysed factors and interactions were done using the method proposed by Corneliâen and Sonderhof (2009).

Findings

These showed that the fact that an individual lives in a secondary city decreases his entrepreneurship probability. The positive impact that the reference models have is weaker in women. Contrary to what was expected, the negative impact of the fear of failure perception is weaker in women.

Practical implications

These results have the implications to suggest focused public policies and differentiations that consider the socio‐cultural, territorial (focused in cities) and gender aspects.

Originality/value

The research contributes by giving empirical evidence of the existence of the negative impact of living in a secondary city and of differentiated effects of socio‐cultural factors from the gender perspective.

Propósito

el objetivo general de este trabajo es estudiar el impacto diferenciado de factores que influyen en la propensión a emprender en una muestra de individuos en Chile. Se distingue entre individuos que viven en ciudades principales y ciudades secundarias. Los factores diferenciadores son aspectos socioculturales (modelos de referencia – ejemplos positivos de emprendimiento – y percepción de miedo social al fracaso) y el género de los individuos.

Metodología

para llevar adelante la investigación se utilizaron los datos provenientes de la encuesta aplicada en Chile por el Global Entrepreneurship Monitor (GEM) para los años 2010 y 2011. Se aplicó un modelo logit para determinar el impacto diferenciado de los factores analizados y se realizaron interacciones utilizando el método propuesto por Cornelißen y Sonderhof (2009).

Resultados

indican que el hecho de que un individuo viva en una ciudad secundaria disminuye su probabilidad de emprendimiento. El impacto positivo que tienen los modelos de referencia es más débil en mujeres. Contrario a lo esperado, el impacto negativo que tiene la percepción de miedo al fracaso es más débil en mujeres.

Implicaciones

estos resultados tienen implicaciones para sugerir políticas públicas focalizadas y diferenciadas que consideren aspectos socioculturales, territoriales (focalizadas en ciudades) y de género.

Originalidad/valor

el trabajo contribuye a aportar evidencia empírica de la existencia del impacto negativo de vivir en una ciudad secundaria y de efectos diferenciados de factores socioculturales desde el punto de vista del género.

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