322,844 research outputs found
Gender differences in new venture financing: evidence from equity crowdfunding in Latin America
No full textPurpose: The purpose of this paper aims to understand whether gender disparity has an impact on the likelihood of obtaining equity crowdfunding financing in Latin America. Design/methodology/approach: The paper uses a unique database of 492 projects from different equity crowdfunding platforms in Latin America over a period of 2013–2017. Findings: Results indicate that the involvement of at least one woman in the board of firms seeking equity financing increases campaigns' success significantly. Team gender has no impact on the project's likelihood to experience overfunding. Originality/value: The paper sheds light on women's access to crowdfunding financing in Latin America, not yet considered so far
In women, we trust! Exploring the sea change in investors? perceptions in equity crowdfunding
No full textPurpose Women's entrepreneurial activity can significantly impact economic and social development globally, particularly in developing countries. The significant challenges entrepreneurial women face draw the attention of researchers and policymakers. This paper aims to analyse the impact of gender disparity on the likelihood of obtaining equity financing through crowdfunding. The equity crowdfunding industry was selected because it is a non-traditional financial market where gender bias may act differently for women. Design/methodology/approach To investigate the relationship between gender and equity financing through crowdfunding, this paper applies ordinary least squares regression. The analysis is based on a unique data set of 492 equity crowdfunding campaigns launched between 2013 and 2017 on all existing platforms in Brazil, Chile and Mexico. Findings The analysis reveals that the involvement of at least one woman on the board of firms seeking equity financing increases campaign success rates in terms of the investors' average pledge, the target amount reached at the end of the campaign and the percentage raised at the end of the campaign exceeding the initial fundraising goal. Altogether, this suggests that equity crowdfunding campaigns should be based on gender equality in the firms' boards. The research finds evidence that there is no gender disparity in the likelihood of a campaign being financed by a greater number of investors. Practical implications These findings have implications for Latin American female entrepreneurs when selecting funding sources and policymakers when defining political actions to remove the barriers at the root of this historic inequality in female entrepreneurs' access to finance. Originality/value To the best of the authors' knowledge, this document analyses the gender disparity in the Latin American equity crowdfunding market, shedding light on women's access to crowdfunding financing for the first time
Industrial dynamics and economic growth in healthcare context: Evidence from selected OECD countries.
No full textPurpose – The economic shock posed by the current COVID-19 outbreak brought out a worldwide public health emergency with a close relationship between the industrial marketing practices, the health level of society and its economic development. The purpose of this study is to analyse the industrial dynamics in health care and their impact on economic growth and health status.
Design/methodology/approach – To empirically investigate the relationship between growth and health, the authors use a data set drawn from 29 selected Organisation for Economic Co-operation and Development (OECD) countries over the period 2000 and 2019. Using panel regressions, the authors investigate the impact of the health-care industry measured in terms of health status, health expenditure, sales on pharmaceutical products, the number of persons working in health care and the coverage by private health insurances. Fixed effect and random effect regressions are used to estimate this model. Findings – Overall, the results are suggestive of a nexus between the industrial marketing dynamics of health-care context and economic growth – both interacting and improving each other. As the quality of the health-care market enhances, the economy grows richer and the health status of the population improves considerably.
Practical implications – To support health-care markets in OECD countries, health policymakers need to formulate a long-term industrial health policy that addresses all the social and individual determinants of health.
Originality/value – To the best of the knowledge, this is the first study to provide a better understanding of the relationship between health-care industrial dynamics and economic growth in OECD countries along different dimensions
Does a rising tide lift all boats? An empirical analysis of the relationship between country digitalization and low-tech SMEs performance
No full textThe rapid emergence of digital technologies has considerably changed the environment for firms' survival and development, reshaping the way they operate and gain competitiveness in the market. The influence of digitalization on firms has emerged as a critical research topic. Nevertheless, studies on the relationship between digitalization and firms' performance remain scarce. Based on a European sample of 149,645 SMEs operating in the low-tech industries, this paper examines the impact of the country's digital performance (measured by the Digital Economy and Society Index - DESI) on the financial performance of low-tech SMEs and the existence of sector-specific differences over the period 2016-2020. Results reveal that the state of digitalization of the economy and society might significantly affect SMEs' financial performance. Indeed, the higher a country's overall digital performance, the better the financial performance of the SMEs that operate there. Additionally, the paper shows that digitalization positively impacts the performance of SMEs in the agriculture, construction, and wood and leather industry. By contrast, digitalization has a negative impact on the performance of SMEs operating in the publishing and printing industry, as well as in the textile and clothing industry. This study provides several implications for government investment policies and SMEs
The impact of corruption on companies' engagement in sustainability reporting practices: an empirical examination
No full textPurposeThis paper aims to investigate whether the perceived level of corruption influences companies' decision to address principles and standards aimed, inter alia, at fighting corruption [i.e. Sustainable Development Goals (SDGs), (2) United Nations Global Compact (UNGC), (3) International Standards Organisation (ISO) 26,000 and (4) Organisation for Economic Co-operation and Development (OECD) Guidelines] in companies' sustainability reporting.Design/methodology/approachThe paper uses a sample of 1,171 sustainability reports published in the year 2017 by organisations from Asia and Africa's low- and middle-income countries.FindingsResults from the Probit model reveal that corruption negatively affects corporate sustainability reporting activity. Indeed, the more companies are exposed to high levels of corruption, the less likely they appear to engage in sustainability reporting. Furthermore, the authors find clear regional and sector-level differences in the extent to which companies engage in sustainability reporting. The results show that Asian companies operating in the agricultural and financial services sectors exhibit significantly higher reporting activity, whilst those operating in the construction and mining sectors report less than the sectors' peers.Research limitations/implicationsThe authors' findings provide important implications for understanding companies' behaviour in the sustainability reporting in emerging economies as well as for designing corporate social responsibility (CSR) disclosure initiatives in the future.Originality/valueThis paper provides a better understanding of the impact of corruption on companies' reporting behaviour in the context of emerging economies
Crimine, sommerso e attività bancaria: quale relazione?
No full textWhat is the effect of crime and underground economy on the stock of bank lending and retail base? The intent of this study is to provide an answer to this and many other questions, utilizing regional-based combined data from Banca d’Italia, Istat and Ministry of the Interior. The results of the analysis show that the level of diffusion of crime has an impact both on the volume of employed resources and the volume of bank retail base. However, the element that significantly reduces bank lending is the perception families have of crime risk, while the level of violent crimes and property crimes (the so-called economic-related crimes) appears to be irrelevant. With regard to the relationship between underground crime and bank business, the results would seem to suggest that the connection is quite weak. Nevertheless, when the data is broken down according to the macro-sector of activity, there is a positive connection between the level of underground crime in the industrial sector and the volume of bank lending and bank accounts. The exact opposite happens for the underground crime in the building sector, but only in relation to the volume of lending. Lastly, the level of underground crime in the industrial sector seems to boost the capability of the bank system to increase the proportion between the resources collected and employed on a specific territory
Gender disparity effect among financially included (and excluded) women in the Middle East and North Africa
No full textUsing the 2017 World Bank’s Global Findex database, this study aims to investigate the effect of gender disparity on the financial inclusion (and exclusion) of women in a sample of 16 countries in the Middle East and North Africa (MENA) region. The results of the probit models suggest the existence of significant gender gaps in the access to and use of formal and informal financial services such as the ownership of financial institution accounts, mobile money accounts, credit card, and the usage of savings and credit products. Being a woman reduces the probability of having an account at a financial institution or through a mobile money provider, of formally saving at a financial institution, and of taking loans regardless of purpose. However, being a woman increases the probability of owning a credit card and saving semi-formally, by using a savings club or a person outside the family. Our analysis also highlights that the lack of enough money, religious concerns, and the fact that a family member already has an account are the most relevant factors in explaining the financial exclusion of women in the countries analysed. The findings of this study are beneficial for policymakers to promote financial inclusion for women and remove the barriers they face to access and use financial services. Reducing gender disparity in financial inclusion is crucial to enhance women’s economic empowerment and promote inclusive development across emerging markets and developing economies of the MENA region
Do capital buffers matter? Evidence from the stocks and flows of nonperforming loans
No full textThis paper investigates the determinants of the stocks and flows (both in- and outflows) of nonperforming loans (NPLs) by considering a bank-specific factor that is not adequately analysed in the literature, namely, bank capital buffers. Using unbalanced panel data with 6,087 bank-year observations for the 2006–2018 period and a two-step system generalised method of moments (GMM) estimation, we find that banks with higher levels of capital buffers (both in terms of Tier 1 and total capital) have fewer NPL stocks and generate fewer NPL
inflows. When we control for the characteristics of the loan portfolio, real guarantees collected by the bank
increase the stocks and flows of new, impaired loans, while personal guarantees favour the outflow of bad loans
The C-S Approach for The Management of Median or Paramedian Frontal Sinus Lesion
No full textThe frontal sinus is one the most complex of the paranasal sinuses, its proximity to the cranial vault and the orbit cause that frontal sinus pathologies can progress to involve these structures and lead to significant morbidity, or even death. Surgical management of the frontal sinus is technically challenging, the most commonly used surgical approaches are coronal, butterfly, gullwing and suprabrow. The purpose of this article is to propose the C-S approach, an interesting alternative to the gullwing approach for the managing of median and paramedian frontal sinus lesions or isolated displaced fractures of the anterior wall. The main advantage of this technique is represented by the fact that it follows the new tension lines described in the literature, a curved vertical line that follows the glabellar frown
Financial inclusion and development in the least developed countries in Asia and Africa
No full textThe purpose of this paper is to investigate the relationship between the financial inclusion index and development variables in the least developed countries in Asia and Africa by using annual data of 42 countries for the period 2000–2019. The pooled panel regression and panel data analysis technique are used to explore this relationship. The empirical finding indicates that economic growth leads to financial inclusion. Unemployment and literacy rates are among the factors contributing to financial inclusion, and it is observed that women are more vulnerable than men are to lack financial inclusion. In less developed countries, the economy relies heavily on agriculture, and people are less financially inclusive when they live in rural areas of these countries. Also, pay inequality reduces financial inclusion rates and has a negative impact on development. The low financial inclusion rate reduces the levels of development in these countries. The results of this study can lead to the development and empowerment of vulnerable groups in the studied countries. In order to improve the conditions for development, policymakers should consider policies that enhance literacy, eliminate gender inequality and increase pay equality
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