{"title":"Entrepreneurial Investment Evaluation Decision-Making: A Focus on Venture Capitalists, Business Angels and Early-Stage Entrepreneurs in South Africa","authors":"B. Urban, M. A. Moreno","doi":"10.57229/2373-1761.1401","DOIUrl":"https://doi.org/10.57229/2373-1761.1401","url":null,"abstract":"Business angels (BAs) and venture capitalists (VCs) are important sources of finance for entrepreneurs in emerging markets for raising start-up and growth capital. Recognising that entrepreneurial investment evaluation decision-making is a highly complex process, and that there are limited studies focused on evaluation criteria used by both BAs and VCs', this article undertakes an empirical investigation by identifying, classifying and statistically testing the rank importance of investment criteria in South Africa from an early-stage entrepreneurial perspective. Results indicate that the rank importance for the different investment criteria is relatively similar for VCs and BAs, and the only ranking difference observed was on the team preparedness and team attributes, relevant for early-stage entrepreneurs. An empirical study of this nature is important as unique insights emerge from testing multiple investment evaluation criteria used by VCs, BAs and early-stage entrepreneurs in an African emerging country context.","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48579062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"SME’s Cost of Debt: A Meta-Analysis of Borrower, Creditor and Financial Statement Verification Attributes","authors":"Thomas R Loy, Stefan Mohrmann","doi":"10.57229/2373-1761.1400","DOIUrl":"https://doi.org/10.57229/2373-1761.1400","url":null,"abstract":"","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42248277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Onaopemipo Adetoro Eletta, M. Adeyeye, A. Sajuyigbe
{"title":"Financial Empowerment and Entrepreneurial Venture Creation among NGOs’ Beneficiaries in Kwara State, Nigeria: An Empirical Investigation","authors":"Onaopemipo Adetoro Eletta, M. Adeyeye, A. Sajuyigbe","doi":"10.57229/2373-1761.1391","DOIUrl":"https://doi.org/10.57229/2373-1761.1391","url":null,"abstract":"NGOs place much emphasis on the provision of diverse relevant training, counselling, mentoring, and financial empowerment in cash and equipment grants, loans and subsidies that made little or no impact on the lives of beneficiaries and the economy. Hence, this study examined the impact of financial empowerment and entrepreneurial venture creation among NGO beneficiaries in Kwara State, Nigeria. The study was posited on the empowerment theory. A survey was carried out employing the simple random sampling technique to select 358 respondents from a total of 5,354 sampling frame of NGOs' beneficiaries in Kwara State. Data analysis was performed using descriptive and inferential statistics. The results indicated that financial empowerment contributes significantly to entrepreneurial venture creation among the NGOs' beneficiaries. It was further revealed that cash loans and subsidies offered by NGOs have a positive impact on entrepreneurial venture creation, while grants have an inverse impact on entrepreneurial venture creation. The study, therefore, suggests among other things that the management of NGOs should scrutinize business plans properly before giving loans, grants, and subsidies to the beneficiaries so that only viable and innovative ideas will be funded. Also, they should offer training and enlightenment to beneficiaries to ensure the presence of unique and innovative activities and solutions pointing at entrepreneurial ventures creation.","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71098252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Ownership concentration Dynamic trade off theory And debt funding of business start-up","authors":"Hedia Fourati","doi":"10.57229/2373-1761.1389","DOIUrl":"https://doi.org/10.57229/2373-1761.1389","url":null,"abstract":"This paper examines the dynamics trade-off financial structure in presence of ownership dispersion of newly created firms. Our objective is to test empirically the relevance of trade-off theory regards the debt funding behavior of business start-up. We use a sample of 200 business start-ups and the GMM panel data estimation over the period 2006-2010. We find that ownership dispersion, tangibility and profitability lead to more debts funding. In addition, we prove that the adjustment to the ratio is moderating and that the necessary transaction costs are high for startups. Ownership dispersion leads to more liquidity and accelerates adjustment to debt funding. Trade-off theory could explain the financial behavior of business startup.","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42913492","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial Strategies for Long-Term Success in Women-Owned Small Businesses","authors":"M. Dyer","doi":"10.57229/2373-1761.1393","DOIUrl":"https://doi.org/10.57229/2373-1761.1393","url":null,"abstract":"Abstract: Failure of small businesses many times is because of poor implementation of long-term financial strategies. Women small business owners face many challenges in financing their small businesses because they may not have a financial plan. Interviews with 11 women small business owners in Cleveland County, North Carolina were completed to discuss ways to fund and sustain their small business. The success of women small business owners can strengthen the local economy by stimulating economic growth, increase the quality of life for the owner and their family, and can improve the standard of living in their community. Failure of small businesses many times is because of poor implementation of long-term financial strategies. Women small business owners face many challenges in financing their small businesses because they may not have a financial plan. Interviews with 11 women small business owners in Cleveland County, North Carolina were completed to discuss ways to fund and sustain their small business. The success of women small business owners can strengthen the local economy by stimulating economic growth, increase the quality of life for the owner and their family, and can improve the standard of living in their community.","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42296314","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"FINANCING OF SMALL AND MEDIUM SCALE ENTERPRISES AND ITS GROWTH IMPACT IN NIGERIA.","authors":"Charles Onyeiwu, O. Muoneke, Udo Nkoyo","doi":"10.57229/2373-1761.1385","DOIUrl":"https://doi.org/10.57229/2373-1761.1385","url":null,"abstract":"","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43443334","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Effects of Microfinance Bank Credit on Small and Medium Scale Businesses: Evidence from Alimosho LGA, Lagos State.","authors":"Charles Onyeiwu, O. Muoneke, Adekunle M. Abayomi","doi":"10.57229/2373-1761.1373","DOIUrl":"https://doi.org/10.57229/2373-1761.1373","url":null,"abstract":"","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49136914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"CHAPTER 2. New Venture Financing: Considerations and Choices","authors":"","doi":"10.1515/9780804777582-007","DOIUrl":"https://doi.org/10.1515/9780804777582-007","url":null,"abstract":"","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":"180 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83762409","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Chapter Two. New Venture Financing: Considerations and Choices","authors":"","doi":"10.1515/9781503609129-007","DOIUrl":"https://doi.org/10.1515/9781503609129-007","url":null,"abstract":"","PeriodicalId":30647,"journal":{"name":"The Journal of Entrepreneurial Finance","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75165606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}