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1 – 10 of 24John T. Perry, Gaylen N. Chandler, Xin Yao and James Wolff
Among nascent entrepreneurial ventures, are some types of bootstrapping techniques more successful than others? We compare externally oriented and internally oriented techniques…
Abstract
Among nascent entrepreneurial ventures, are some types of bootstrapping techniques more successful than others? We compare externally oriented and internally oriented techniques with respect to the likelihood of becoming an operational venture; and we compare cash-increasing and cost-decreasing techniques with respect to becoming operational. Using data from the first Panel Study of Entrepreneurial Dynamics, we find evidence suggesting that when bootstrapping a new venture, the percentage of cash-increasing and cost-decreasing externally oriented bootstrapping techniques that a ventureʼs owners use are positive predictors of subsequent positive cash flow (one and two years later). But, internally oriented techniques are not related to subsequent cash flow.
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John T. Perry, Gaylen N. Chandler, Xin Yao and Timothy L. Pett
The entrepreneurʼs experience, personality, and values affect the entrepreneurʼs behaviors and decisions (Chrisman, Bauerschmidt, and Hofer 1998). Past research results show that…
Abstract
The entrepreneurʼs experience, personality, and values affect the entrepreneurʼs behaviors and decisions (Chrisman, Bauerschmidt, and Hofer 1998). Past research results show that (1) more experienced new venture founders have a greater likelihood of leading their ventures to early success than less experienced founders (Delmar and Shane 2006) and (2) founders who engage in legitimacy-seeking behaviors have a greater likelihood of leading their ventures to early success than founders who do not do so (Tornikoski and Newbert 2007). We propose that more experienced founders understand the importance of obtaining legitimacy for their ventures and therefore will engage in more legitimacy-seeking behaviors. In addition, we propose that entrepreneursʼ growth aspirations and internal locus of control are also associated with engagement in legitimacy-seeking behaviors. We test and find support for these propositions in a sample of new ventures and their founders.
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Prior studies argue that social capital is vital for firm growth. Adding to this line of research, this paper provides more evidence regarding the contribution of bonding and…
Abstract
Prior studies argue that social capital is vital for firm growth. Adding to this line of research, this paper provides more evidence regarding the contribution of bonding and bridging social ties to various aspects of small-l and medium-sized enterprise (SME) development. Building on the original data from Russia, this paper investigates the effects of firm-internal and firm-external relational ties on SME performance and geographic expansion. The findings indicate that horizontal bridging ties facilitate specific strategies of SME growth. Thus, this paper supports prior research conducted in the Asian context, and allows for extending the outcomes of bonding and bridging social capital into broader institutional settings. In addition, this study raises the question of relationship between the composition of social capital and distinct organizational characteristics of SMEs. Finally, the paper discusses the implications for future research, and outlines some practical recommendations for SMEs operating in emerging markets.
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Jingjing Shi, Ning Qian, Honghua Su, Ying Yang and Yiping Wang
The electrical properties of piezoelectric vibrators have a crucial influence on the operating state of ultrasonic motors. In order to solve the problem that the current…
Abstract
Purpose
The electrical properties of piezoelectric vibrators have a crucial influence on the operating state of ultrasonic motors. In order to solve the problem that the current piezoelectric vibrator generates a large amount of heat during vibration to degrade its performance, which in turn affects the normal operation of ultrasonic motors, this paper prepares a novel piezoelectric vibrator and tests its maximum vibration velocity under the working condition, which is more than twice as much as that of the current commercial PZT-8.
Design/methodology/approach
The crystal structures of the samples were analyzed by using an X-ray diffractometer. For microstructure observation, samples were observed by scanning electron microscope (SEM). The quasi-static piezoelectric coefficient meter (ZJ-3AN) was used for piezoelectric measurement. Dielectric properties were measured by utilizing an impedance analyzer (Agilent 4294A) with a laboratory heating unit. Ferroelectric hysteresis loops were obtained using a ferroelectric analyzer (Radiant, Multiferroic 100). A Doppler laser vibrometer (Polytec PSV-300F, Germany) and a power amplifier were used for piezoelectric vibration measurements, during which the temperature rise was determined by an infrared radiation thermometer (Victor 303, China).
Findings
The ceramics exhibit enhanced piezoelectric performance at 0.1–0.4 mol% of Yb doping contents. The ceramic of 0.4 mol% Yb reaches the maximal internal bias field and presents a larger mechanical quality factor of 1,692 compared with that of 0.2 mol% Yb-doped ceramic, in spite of a slightly decreased dielectric constant of 439 pC/N, the unit of the piezoelectric constant, which is the ratio of the local charge (pC) to the frontal force (N) and electromechanical coupling coefficient of 0.63. The vibrator with this large mechanical quality factor ceramic displays a vibration velocity of up to 0.81 m/s under the constraint of 20 °C temperature rising, which is much higher than commercial high-power piezoelectric ceramics PZT-8.
Originality/value
The enhanced high-power properties of the piezoelectric vibrator by Yb doping may provide a potential application for the high-performance USM and offer the possibility of long-term stable operation under high power for special equipment like USM. In the subsequent phase of research, the novel PZT-based high-power piezoelectric vibrator can be utilized in the USM, and the motor's performance will be evaluated under aerospace conditions to objectively assess the reliability of the piezoelectric vibrator.
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Amit Rohilla, Neeta Tripathi and Varun Bhandari
In a first of its kind, this paper tries to explore the long-run relationship between investors' sentiment and selected industries' returns over the period January 2010 to…
Abstract
Purpose
In a first of its kind, this paper tries to explore the long-run relationship between investors' sentiment and selected industries' returns over the period January 2010 to December 2021.
Design/methodology/approach
The paper uses 23 market and macroeconomic proxies to measure investor sentiment. Principal component analysis has been used to create sentiment sub-indices that represent investor sentiment. The autoregressive distributed lag (ARDL) model and other sophisticated econometric techniques such as the unit root test, the cumulative sum (CUSUM) stability test, regression, etc. have been used to achieve the objectives of the study.
Findings
The authors find that there is a significant relationship between sentiment sub-indices and industries' returns over the period of study. Market and economic variables, market ratios, advance-decline ratio, high-low index, price-to-book value ratio and liquidity in the economy are some of the significant sub-indices explaining industries' returns.
Research limitations/implications
The study has relevant implications for retail investors, policy-makers and other decision-makers in the Indian stock market. Results are helpful for the investor in improving their decision-making and identifying those sentiment sub-indices and the variables therein that are relevant in explaining the return of a particular industry.
Originality/value
The study contributes to the existing literature by exploring the relationship between sentiment and industries' returns in the Indian stock market and by identifying relevant sentiment sub-indices. Also, the study supports the investors' irrationality, which arises due to a plethora of behavioral biases as enshrined in classical finance.
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