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1 – 10 of 316Douglas Cumming, Sofia Johan and Robert Reardon
This paper aims to provide an in-depth examination of the emergent state of financial technology (fintech), particularly emphasizing capital-raising innovations and their…
Abstract
Purpose
This paper aims to provide an in-depth examination of the emergent state of financial technology (fintech), particularly emphasizing capital-raising innovations and their implications for international business.
Design/methodology/approach
Using the highly influential articles published in fintech, the authors identify the advantages and disadvantages of each significant fintech in the credit, deposit and capital-raising services sector. The authors assess the adoption of these services and the international firm-level implications of their use.
Findings
This study highlights fintech’s role in fostering entrepreneurial internationalization, with a particular focus on the impact of crowdfunding, peer-to-peer lending and online banking. A thorough analysis of Google Scholar citations uncovers research gaps and unveils emerging trends bridging international business and fintech. Furthermore, the examination of regulatory efforts presents evidence of a robust positive relationship between global e-commerce legislation and fintech adoption, demonstrating the interconnected nature of these elements in the world of international business.
Research limitations/implications
Fintech research in international business has only taken off in the last five years. Innovations and regulatory developments are continuously evolving.
Originality/value
This study emphasizes the significance of fintech in international business research, addressing its implications on regulatory environments, entrepreneurial internationalization and multinational corporations’ global strategies. By investigating the synergies and applications of various fintech types, the research provides valuable insights for scholars and practitioners, contributing to the advancement of knowledge in the field of international finance.
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Douglas J. Cumming and Zachary Glatzer
This chapter focuses on how alternative data can change the nature of financial forecasting through improved short-term forecasting techniques and decreased informativeness from…
Abstract
This chapter focuses on how alternative data can change the nature of financial forecasting through improved short-term forecasting techniques and decreased informativeness from longer term sources. Increased use of social media data leads the charge in transforming this transition. Alternative data are data not from standard financial statements or formal reports. This chapter looks at alternative data from new sources (e.g., social media, Internet of Things [IoT], and digital footprints) and alternative data from new collection methods like web scraping for textual analysis, image analysis, and vocal analysis). It first discusses standard data in financial forecasting. Next, this chapter examines alternative data in financial forecasting. Finally, it discusses alternative data used in studying finance more broadly.
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Douglas Cumming and Sofia Johan
– The purpose of this paper is to study factors that affect the success of technology parks in terms of fostering entrepreneurial firm formation, growth, and financing.
Abstract
Purpose
The purpose of this paper is to study factors that affect the success of technology parks in terms of fostering entrepreneurial firm formation, growth, and financing.
Design/methodology/approach
Based on a new international dataset of technology parks (tech parks) from 13 countries (eight developing countries and five developed countries), the paper relates the success of technology transfer to the legal environment within which the tech park operates, as well as the characteristics of the tenants in the tech park and the services provided by the tech park.
Findings
The data indicate entrepreneurial success is more likely to be facilitated when there is better legal protection offered to companies in the jurisdiction within which the tech park is located, when there is a greater presence of foreign university- and government-affiliated companies in tech parks, and a smaller presence of foreign private companies in tech parks, particularly foreign subsidiaries. The data further indicate entrepreneurial success is more likely when tech park tenants have greater testing/analysis focus, and when tenants have less assembly- and service-focussed activities. Also, entrepreneurial success is more likely to be facilitated by tech parks with on- and off-site technology licensing offices that promote trade shows, provide access to funds for commercialization and distribute information on the R&D outcomes of tech park tenants.
Research limitations/implications
The data offer insights into efficient design of tech parks. Coarse measures from survey data are limitations yet offer scope for further examination in future research.
Originality/value
The paper provides guidance for entrepreneurs and their investors in terms of ways maximize value in terms of entrepreneurial growth and financing from selecting appropriate tech parks.
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Douglas J. Cumming and Jeffrey G. MacIntosh
This paper considers efficient venture capital investment duration for different types of entrepreneurial firms so that on exit information asymmetries between the venture…
Abstract
This paper considers efficient venture capital investment duration for different types of entrepreneurial firms so that on exit information asymmetries between the venture capitalist (as seller) and the new owners of the investment are minimized, and capital gains maximized. We hypothesize that a number of factors are likely to affect investment duration, and our empirical tests confirm the statistical significance of some of these variables (stage of firm at first investment, capital available to the venture capital industry, whether the exit was preplanned, and whether the exit was made in response to an unsolicited offer). However, the fit between our theoretical model and the data is stronger in the United States than in Canada, offering evidence in support of the view that institutional factors have distorted investment duration in Canada.
U.S. venture capital financings of U.S. entrepreneurial firms with up to 213 observations are consistent with the proposition that convertible preferred equity is the optimal form…
Abstract
U.S. venture capital financings of U.S. entrepreneurial firms with up to 213 observations are consistent with the proposition that convertible preferred equity is the optimal form of venture capital finance. This paper introduces new evidence from 208 U.S. venture capital financings of Canadian entrepreneurial firms. In contrast to U.S. venture capital investments in U.S. entrepreneurial firms, U.S. venture capitalists finance Canadian entrepreneurial firms with a variety of forms of finance. The differences between domestic and international U.S. venture capitalist financing structures are not attributable to differences in the definition of the term ‘venture capital’. The data point to the importance of institutional determinants of venture capitalist capital structures within the U.S. and abroad. Among other things, the data indicate that U.S. venture capitalists often do not choose convertible preferred shares in the absence of tax considerations in favor of that financing vehicle.
Entrepreneurship is essential for the growth of both individual firms and overall economies. Through the creativity entrepreneurship fosters, new products, processes, and…
Abstract
Entrepreneurship is essential for the growth of both individual firms and overall economies. Through the creativity entrepreneurship fosters, new products, processes, and organizations emerge. Entrepreneurship provides the necessary flexibility and dynamism for responding to new market opportunities and challenges. Accordingly, it is important to understand entrepreneurship – how it takes place, the characteristics of entrepreneurs, the factors that encourage or discourage it, and how it differs across countries. Fortunately, research on entrepreneurship is active across the social sciences. This volume presents a collection of chapters that report on recent studies across a variety of areas, and the material reflects the vibrancy of both this emerging field of study and its subject area – entrepreneurship.
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
This paper identified the different trends within financial technology and their impacts on international business.
Originality/value
The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.
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