9,897 research outputs found
Entrepreneurs on their financial literacy: evidence from the Netherlands
No full textUsing a representative survey of Dutch entrepreneurs and self-employed individuals, (i) we measure their subjective financial knowledge and the extent to which they ask for advice when managing their companies, and (ii) we examine whether subjective financial knowledge and the demand for advice are related to the firm economic performance. We find that the respondents feel more comfortable with accounting subjects than they do with strategic ones, of which they feel that they know the least. Entrepreneurs with a greater extent of financial knowledge are more likely to report a higher gross margin and higher revenue growth for their firm. These entrepreneurs are also less likely to seek advice and to delegate financial decisions. Seeking professional advice does not increase the likelihood of an entrepreneur having better performance. Our results suggest that entrepreneurs’ degree of financial knowledge is related to the success of their businesses, while seeking advice is not significantly correlated with better firm performance
Introduction: Entrepreneurial Finance — From the 18th Century to Modern Times
No full textEntrepreneurial firms are the backbone of economies and drivers of both economic development and employment. Young and innovative entrepreneurial firms are germane to the creation, development, and growth of new technologies, industries, markets and create the most jobs (Bellavitis et al., 2017; Megginson, 2004). Without start-ups, it will be much more difficult to generate net job growth in the economy. It is estimated that, for example in the US, new ventures create three million jobs a year (Kane, 2010)..
New Frontiers in Entrepreneurial Finance Research
No full textThis book provides an updated view of new trends in entrepreneurial finance, with the aim of guiding academics and non-academics alike that want to gain a deeper understanding of this field. It collects recent contributions from scholars from all over the world. Each chapter provides new empirical or theoretical evidence on fundamental issues related to entrepreneurial finance, including business angels, crowdfunding, Initial Coin Offerings, Mini bonds, public support and more. Besides reviewing the recent trends in the field, the book also highlights new avenues for research, and implications for practitioners
The Role of Angel Syndicates on the Demand and Supply of Informal Venture Capital
No full textThe recent explosion of the informal venture capital is stimulating finance
scholars to deeply investigate the major determinants, characteristics and
possible implications of this phenomenon within the start-up ecosystems.
The rising literature on business angels (BAs) still misses to adequately
cover many investigation areas, such as the operations and the role played
by the different typologies of BA networks (BANs) and the valuation of
the contributions provided by BAs to the performance of the angel-backed
companies. The contributions of Bonini et al. (2018, 2019) are part of
the ongoing debate on these two research areas that have not yet been
exhaustively explored. The two papers show that the affiliation to an angel
community affects BAs’ investment decisions, though it doesn’t seem to
have a significant impact on the survival and profitability of the funded
ventures. On the contrary, by co-investing in an angel syndicate, BAs may
enjoy risk- and information-sharing benefits that structurally affect both
their investment practices and the performance of the funded ventures.
Also, the BAs’ willingness to play an active role does have a positive impact
on angel-backed companies’ survival and growth. Finally, the intensity of
BAs’ soft monitoring seems negatively related to the performance of the
funded ventures because of the impact on the trust-based entrepreneur–
angel relationship. However, angel communities might be able to decrease
and distribute within the network the need for individual monitoring while
increasing members’ confidence in the angel investments
Bridging the equity gap for young innovative companies: The design of effective government venture capital fund programs
No full textGovernmental venture capital funds (GVCs) are created by policymakers around the world to support young innovative companies (YICs) with the aim of “bridging the equity gap”. In this paper, we study the heterogeneity in the design of GVC programs in Europe and identify the design features that are most effective in achieving the desired outcomes of this policy. Specifically, we focus on the probability that GVC-backed companies will receive additional funds from private venture capital investors and, ultimately, changes in their growth and innovation outcomes. We find that the choices of location, colocation, syndication and industry focus of a GVC program substantially influence the extent to which it is able to achieve such goals. Important policy implications are discussed
Using performance assessment in secondary school mathematics: an empirical study in a Singapore classroom
No full textThis article reports an exploratory study on using performance assessment in mathematics instruction in a high-performing secondary school in Singapore. An intact mathematics class participated in the study, and received chapter-based performance tasks as intervention during regular mathematics lessons for about one and a half school years. The performance tasks used included authentic and/or open-ended tasks. The students’ academic achievements and attitudes in mathematics were compared with a comparison class that did not receive the intervention. Both quantitative and qualitative data were collected, mainly through questionnaire surveys, performance task tests, conventional school exams, and interviews with students and teachers. The results suggest that the students receiving the intervention performed significantly better than their counterparts in solving conventional exam problems, and in general they also showed more positive changes in attitudes towards mathematics and mathematics learning. The students from the experimental class also expressed positive views about the benefits of using performance tasks in promoting their ability in higher order thinking, though no statistically significant difference was detected between the two classes of students in solving unconventional tasks before and after intervention. Overall, the results appear to support teachers’ using contextualised problems in real life situations and open-ended investigations in students’ learning of mathematic
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