This study investigates how the circular economy and business models are related in the current business and management literature. Based on bibliometric analytical procedures, 253 articles were ...retrieved from the Scopus, Web of Science, and ScienceDirect scientific databases. The articles were analyzed according to network analysis principles, and key terms were mapped into a network. We used VOSviewer to build the network, explore the most‐researched terms and their relationships, and identify less‐explored terms and research gaps. We furthermore conducted a qualitative review of selected publications to provide an illustration of quantitative results and delve deeper into the research topics. The main findings revealed the networks of current topics as they appear in the publications such as business models, the circular economy, circular business models, value, supply chain, transition, resource, waste, and reuse, and their most prevalent relationships. The results also highlighted several emerging topics such as those connected with managerial, supply‐side, demand‐side, networking, performance, and contextual considerations of circular business models.
Small and medium-sized enterprises (SMEs) struggle to obtain credit when credit ratings and collateral are used as criteria to assess their credit applications. In the context of Africa, the ...financial markets have gaping institutional voids, and contextual insights into SMEs’ experiences remain underdeveloped. Drawing on the stakeholder-agency theory of debt financing, this paper advances the scholarly conversation by theorising about how collateral security, collateral security value and the gender of SME owners lead to the involuntary financial exclusion of many manufacturing businesses in Africa. Analysis of the World Bank Enterprise Survey (WBES) dataset reveals that collateral security and collateral security value, together with gender biases in Africa’s financial markets, reduce credit access potential. Consequently, SMEs’ perceptions of the likelihood of obtaining credit for business purposes are reduced. Empirical results for 13,783 SMEs across 41 African countries indicate that the motivations to apply for credit also diminish. These observations contribute to entrepreneurial financing and SME research.
Plain English Summary
Although the manufacturing sector is declining in the West, it remains important in Africa. For most African countries, it helps alleviate poverty by creating jobs that enable the economic and social development of citizens. However, manufacturing SMEs face involuntary financial exclusion, even though access to financial facilities helps them develop their ventures and enhance their role in community development. This study uses cross-country data on 13,783 manufacturing SMEs across 41 African countries. The aim is to understand the extent of this problem. This paper presents empirical analysis of how collateral security, collateral security value and the gender of SME owners influence the ability of SMEs to obtain credit in Africa. It provides an understanding of how lenders use collateral security, collateral security value and gender to evaluate the creditworthiness of SME owners. Factors affecting SMEs’ ability to convince lenders in Africa to finance their businesses include their size, lack of assets or value of assets and owner’s gender. This scenario affects their confidence to apply for credit. Consequently, their motivation is undermined, despite the economic and social importance of their businesses for Africans. This understanding has implications for policy institutions in Africa.
They must reconcile the needs of SMEs with the available financial services. Moreover, they must do so in a way that alleviates involuntary financial exclusion whilst enhancing community development.
Can a magic recipe foster university spin-off creation? Berbegal Mirabent, Jasmina; Ribeiro-Soriano, Domingo Enrique; Sánchez García, José Luis
Journal of business research,
11/2015, Letnik:
68, Številka:
11
Journal Article, Publication
Recenzirano
Odprti dostop
This study examines factors that explain the creation of university spin-offs. The study focuses on mechanisms that technology transfer offices (TTOs) and universities employ to foster spin-offs. ...These mechanisms include technology transfer activities that support spin-offs, normative frameworks, support infrastructures (i.e., business incubators and science parks), and TTO staff's specialist technical skills. The analysis also differentiates between public and private universities. Spin-offs belong to one or more of the following groups: spin-offs with support from the university's TTO, spin-offs operating under a license agreement, and spin-offs in which the TTO or university holds equity. Qualitative comparative analysis (QCA) of 2011 data from 63 Spanish universities (46 public and 17 private) identifies recipes of antecedent conditions that effectively foster spin-offs. Results show that no unique combination of antecedent conditions yields more university spin-offs than any other does. This finding indicates that several strategies can successfully lead to academic entrepreneurship.
In recent years, initial coin offerings (ICOs) have received considerable attention as a new form of crowdfunding. Because of the rapid growth in their popularity, ICOs have become a prominent ...research topic. However, the lack of knowledge about the nature of this kind of financial operation inevitably raises several important unanswered questions. This study starts by providing a comprehensive description of the characteristics, benefits, and risks associated with ICOs. Then, using a panel data set comprising daily information for 125 ICOs (44,217 observations gathered from December 2017 to December 2018), this study explores the influence of the ICO presale period, ICO category, Bitcoin spot returns, Bitcoin futures returns, and sentiment extracted from social media on ICO returns. The results suggest that while Bitcoin spot and Bitcoin futures returns exert a positive influence on ICO returns, the existence of a presale period exerts a negative influence, and ICO category seems to be non-significant. Sentiment extracted from social networks positively influences ICO returns. Further conclusions of this study are presented in the last section.
The COVID-19 pandemic has led to an unprecedented situation, with incalculable health, social, and economic consequences. At the start of the outbreak, the financial markets collapsed, although not ...all sectors suffered equally. The gaming and eSports industry is one of those that has suffered the least from the fall in the markets. Millions of people locked up at home, bored, stressed, and anguished, gave gaming and eSports companies growing prominence throughout the first half of 2020. This prominence has elicited interest in analyzing which variables can influence the returns in an industry in better financial health than many others. Using a logit-probit model, this research aims to analyze the relationship between financial (VIX, S&P GSCI Gold Index) and social (worldwide daily variation in total deaths from COVID-19 and worldwide Google attention on coronavirus) variables and the returns offered by the video game and eSports exchange traded fund (ESPO). The results show that the influence of social variables is weaker than the influence of financial variables. There is a significant inverse relationship between market volatility and ESPO returns and a highly significant relationship between ESPO returns and gold returns. While the relationship of ESPO returns with worldwide Google attention on coronavirus is significant, the relationship with worldwide daily variation in total deaths from COVID-19 is not. The conclusions of the study are discussed at the end of the paper.
PurposeIn a world where sustainability is a major aim at all socioeconomic levels, social entrepreneurship plays an important role in achieving the goals that have been set. The purpose of this study ...is to broaden the knowledge of social start-ups, social incubators and founding teams, highlighting the value of each one. The aim is to use quantitative analysis to determine the possible link between social incubators and social start-up success and identify the founding team profile of social start-ups from each sector according to a sector-based ranking.Design/methodology/approachBootstrap data envelopment analysis (DEA) was used to calculate the efficiency of social incubators and social start-ups and thus quantify the impact, in terms of increased efficiency, of social incubators on social start-ups. Then, using cross-efficiency methodology, a synthetic index was used to analyse the founding team profile of social start-ups. The study is based on primary data from a survey of Spanish social incubators and social start-ups.FindingsThe study provides strong quantitative evidence of the positive effect of social incubators on the development of social start-ups. The size of this effect exceeds the know-how of start-ups. In terms of efficiency gains, this research quantifies the impact of social incubators on this entrepreneurial ecosystem. This impact exceeds 35%. The study also shows that the strongest social start-ups are in the food and information and communication technology (ICT) sectors. The founding teams in these cases have a strong business background, have a high educational level, receive subsidies and express a desire to retain control of the company.Originality/valueThere is an extensive literature dedicated to the analysis of the behaviour and characteristics of traditional incubators, accelerators and start-ups. However, despite the recent rise of social entrepreneurship, studies of social incubators and social start-ups remain scarce. This study provides two novel findings. (1) It shows the importance of creating a social start-up in a context where it receives support throughout all its development stages, providing quantitative insight into the contribution of social incubators and social start-ups. (2) It reveals the profile of founding teams in the highest-ranked business sectors.
This paper summarizes the best papers of the Global Innovation and Knowledge Academy (GIKA) conference, which took place in July 2012 in Valencia, Spain. The Journal of Business Research hereby ...publishes a special issue entitled Innovation and entrepreneurship in knowledge industries. This special issue includes 22 papers and the editorial. All of them went through double-blind reviews and revisions. These papers contribute to various perspectives of innovation and entrepreneurship in different countries. Innovation is considered a specific instrument of entrepreneurship. The papers in this special issue cover a variety of topics in the area of innovation and entrepreneurship.
•Firm and funding-round factors are both relevant to crowdfunding success and failure.•Configurations associated with success and failure are quite different.•Successful crowdfunding occurs in ...start-ups with a high number of founders.•The number of pictures employed in the campaign is a critical element.•Failed crowdfunding occurs in mature firms, having no female founders, and offering reward.
With the growth in the use of crowdfunding platforms for fundraising, analysis of the key factors associated with successful crowdfunding has emerged as an interesting and oft-researched topic. Nonetheless, the equity crowdfunding market is still relatively under researched. The purpose of this paper is to explore how contingency factors combine and causally connect in leading to possible success or failure in equity crowdfunding rounds. To reach this goal, a configurational approach was chosen. Qualitative comparative analysis (QCA) is a suitable method for this topic because of its ability to identify and assess different combinations of conditions that explain certain outcomes. The paper uses the fuzzy-set qualitative comparative analysis (fsQCA) to examine the casual configurations of 344 projects posted on the leading UK crowdinvesting platform (Crowdcube) from March 2016 to the beginning of November 2017. Six antecedent conditions capable of positively or negatively influencing the outcome of an equity crowdfunding campaign were identified through a review of the literature. Four refer to the firm (firm age, industry sector, number of founders or CEOs, and founder or CEO gender) and two relate to the funding round (presence of rewards and number of pictures). The configurational analysis reveals that crowdfunding success and failure are associated with different combinations of conditions. Moreover, multiple configurations of these conditions are associated with both crowdfunding success and failure. However, for each of the crowdfunding outcomes – success and failure – there is a single combination of conditions that is clearly superior to the other configurations in accounting for the observed outcome. Among the sampled firms, crowdfunding was found to be successful for start-ups with a large number of founders and numerous pictures. Crowdfunding was found to fail in firms that have no female founders, that are in traditional sectors (non-cleantech firms), that are not start-ups, and that publish few pictures but offer rewards for investors.
Customers’ expectations factors in restaurants Soriano, Domingo Ribeiro
The International journal of quality & reliability management,
12/2002, Letnik:
19, Številka:
8/9
Journal Article
Recenzirano
This paper examines the attributes which influence customers' decisions to return to a restaurant for another meal. The restaurant sector is one of the fastest growing sectors within the context of ...the Spanish economy and looks likely to continue its development into the future. The implementation of Total Quality (TQ) systems in the tourist industry is still a recent phenomenon in Spain. Hence the importance of the client's satisfaction, resulting in the acquisition of an optimum quality level: i.e. cooking is culture and it has to be culturally adapted and promoted. The survey reported in this paper on the customers of Spanish restaurants has gathered the perception of quality according to a Likert scale from zero to ten. Male customers did not rate the attributes differently from female customers. Quality of food was rated as the most important attribute, followed by quality of service, cost/value of the meal, and place/ambience of the restaurant.
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