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From ego to equity
(2024)
Purpose
This study aims to investigate the association between narcissistic tendencies, gender and funding success in high-growth start-ups. It aims to bridge a critical research gap by exploring the combined effect of gender and narcissism on start-up funding success.
Design/methodology/approach
The authors surveyed 540 founders of high-growth start-ups in Germany, Austria and Switzerland, using the NPI-16 questionnaire to assess narcissistic tendencies. By focusing on high-growth start-ups as opposed to small firms, the authors enhanced the validity of the sample. This study isolates and analyses the effects of gender and narcissism, providing insights into their individual and combined contributions to start-up funding success.
Findings
The findings reveal that gender is associated with lower start-up funding and lower narcissistic tendencies. This highlights the intricate relationship between gender, narcissism and funding success within the context of high-growth start-ups.
Practical implications
These findings have important implications for investors, policymakers and entrepreneurial educators, suggesting that a nuanced understanding of founders’ psychological traits could enhance funding strategies and start-up support mechanisms.
Originality/value
This research addresses the critical gap in the literature by examining the joint influence of gender and narcissism on funding success in high-growth start-ups. The study contributes to a nuanced understanding of the factors shaping founder psychology and performance dynamics, offering valuable insights for future research in gender, narcissism and start-up success.
In times of the “Zeitenwende” European defence industrial companies face several challenges simultaneously: high fragmentation of the industrial ecosystem and product portfolio, a historic focus on small-volume production of complex weapons systems, the need to expand capacity fast, diverging European national security strategies, Europeanisation of the security sector, and a dominant US defence industry, among others. This article analyses the most likely strategies for the European defence industrial companies as a response to this situation. The analysis is based on 18 semi-structured expert interviews with representatives of the European defence industry, academia, and politicians to identify and assess the strategic options. Porter’s Diamond framework is used to assess the impact of governmental influence, availability of production factors, historic chance, and structure of the value chain on the selection of strategies. The analysis focuses on pan-European industry consolidation, exports, self-funded R&D, internationalisation, co-operation with SMEs, and future large-scale defence co-operation programmes.
The Ukraine war, the aftermath of COVID-19, Brexit and shifting US geostrategic interests are putting pressure on the European defence situation, strategy and budgets. The current crises expose warfare capability gaps in the European armed forces and capacity constraints of the European defence industry after decades of the peace dividend. More nations are calling for stronger engagement of the EU in the defence sector to overcome these challenges and complete the European defence sector integration that started in the late 1990s. It is estimated that more cooperation in defence procurement and research could save up to 30% of the current 290 bn total EU27 defence budgets. Can this combination of recent factors provide new impulses towards a unified European defence market, more cooperation on defence procurement and industry consolidation? We conducted a literature review ('meta-synthesis') of 172 journal articles, studies and think-tank papers since 1995 to build a holistic picture. The analysis aims to describe the progress and challenges of European defence market integration from an economic viewpoint. It provides future researchers with a basic understanding of defence industrial challenges, motivations and economic drivers of European defence integration as well as of reasons for resistance and potential scenarios.
The opacity of the impact investment decision-making process is one of the main constraints hampering further growth in the impact investing ecosystem. This paper takes a differentiated view on why (investment motivation) and how (investment decision criteria) the major private impact investor types allocate funding to investees. We incorporate insights from 34 interviews with the five major impact investor types: social business angels, foundations, social banks, impact investment funds, and crowdvesting platforms. We find that motivation and decision-making significantly differ between the impact investor types, especially concerning strict vs. ambiguous impact definitions, active vs. passive investment approaches, and return requirements reaching from capital preservation to market-driven returns. By providing a differentiated overview of the investor type-specific motivations and most important investment criteria, our study offers social entrepreneurs a roadmap to identify the most appropriate impact investors for their business model.
Purpose
In public management research, the focus in the public value debate has been on public administration organizations’ broader societal outcomes. Public value describes how public administrations form a vital part of the social context in which people develop and grow. However, there has not yet been an analysis of how public administration contributes to happiness in society.
Design/methodology/approach
In this study, we empirically analyze the relationship between people’s happiness and the public value of public administration. Our approach is based on a unique Swiss survey dataset comprising 870 individuals.
Findings
We find a positive relationship between public administration’s public value and happiness. We also find preliminary evidence with a moderation analysis that the relationship between a value-creating public administration sector and self-reported happiness is stronger for public administration employees.
Research limitations/implications
While correlation studies cannot claim causal explanations and common method bias may additionally limit any research in social science, we took a number of measures to mitigate related problem. We tested our model in two samples and took both several procedural techniques and a survey design minimizing common method bias.
Practical implications
The paper discusses implications for public sector performance measurement for public management and practitioners.
Social implications
This study calls for a more positive view on the multiple functions public administration performs for society. After an era of critical voices, our study helps reclaim public administration as a positive force for society at large in times of grand challenges, such as climate crisis, demographics and digitization.
Originality/value
This study has highlighted the importance between public administration’s public value and happiness in Swiss public service organizations. The study also showed that an employment in the public administration contributes to the happiness of individuals and beyond to society.
The growing importance of sustainability in organizational success, particularly in the pharmaceutical industry, underscores the need for leveraging technologies such as blockchain methods to enhance sustainability indicators across environmental, social, and economic pillars. This study aims to identify and understand the challenges hindering the adoption of blockchain technology in the pharmaceutical sector for improving sustainability performance, addressing two research topics: the specific challenges faced by blockchain adoption in this context and the interdependencies among these challenges. Employing a two-step approach, the study compiles challenges through a literature review, refines them via expert opinions, and establishes their interrelationships using methodologies like fuzzy interpretive structural modeling (FISM) and cross-impact matrix multiplication applied to classification (MICMAC). The research contributes to unraveling the complex relationships and dependencies within the system, providing a structured framework for improved decision making and strategic planning. It fills a literature gap as the first attempt to outline driving and dependent factors related to the challenges of adopting blockchain technology for sustainability enhancement in the pharmaceutical sector, offering insights that can significantly impact brand image, company perception, and consumer value.
The new bond on the block
(2024)
Over the last decade, the green bond market experienced strong growth rates fueled by the need to combat climate change. However, the discourse on enhancing the effectiveness of green bonds primarily revolves around regulatory measures, often overlooking the possibility of designing inherent incentives. We show that a green bond with a coupon structure positively related to the carbon price development stimulates (early) investment in an emission-reducing project and creates higher net present values (NPVs) when applied in project financing. In our simulation-based framework, we model carbon prices using a geometric Brownian motion, and create a general optimal stopping time problem regarding the start of the project. The green bond in our setting carries the risk of default, also mitigated by its carbon price-linked coupon structure.
Introduction: Gamification can support the practical application of Inclusive Teaching. However, gamification literature reviews to implement Inclusive Teaching are scarce or not existent. Therefore, we conducted a scoping review of gamification literature reviews to identify what themes are covered and specifically if Inclusive Teaching has been explored.
Method: The scoping literature review comprises network and content analyses of gamification literature reviews retrieved from the Web of Science. We analyzed a multimode network of papers and keywords and used their eigenvector centrality to identify themes. The content analysis comprised of a human and automatic tagging process to identify each paper’s discipline/context.
Results: We mapped the themes explored in 125 gamification literature reviews to answer our first research question, what are the areas of knowledge covered by gamification literature reviews? The central topic is gamification and education to increase motivation, followed by gamification itself and understanding the implementation of gamification in various contexts. We identified 12 contexts and the top five frequent were Education, Business, Gamification, and Political Science. From the year-by-year analysis, we separated the themes into four periods: beginning (2014–2015), understanding (2016–2017), focus 2018 and focus and emergence (2019–2022). Regarding our second research question, how is the topic of Inclusive Teaching explored in gamification literature reviews? We did not find literature reviews about gamification to support Inclusive Teaching in the existing dataset.
Discussion: We report on the benefits of organizing central keywords by quartiles and using multimode networks to support scoping reviews; and disadvantages and advantages of using literature reviews as data sources for scoping reviews. We invite researchers to create more gamification literature reviews, to investigate gamification ethics in the light of recent technological developments such as generative models, and to reconnect gamification to the game design elements part of its definition, which goes beyond game elements.
Creating value in football
(2024)
A new group of football investors has emerged to focus on direct financial returns, but little is known about their business activities and the strategies they employ for generating value. This paper aims to better understand these activities and unveil distinct value-creation strategies. Through 16 self-conducted and six publicly available interviews and documents, we analyzed 61 transactions involving 37 investors using the grounded theory methodology. Football investors follow four parallel micro-processes: horizoning, focusing, synchronizing, and creating value. Through these four microprocesses and their properties, they develop five distinctive strategies for value creation: Phoenix Strategy, (Cash) Cow Strategy, Gazelle Strategy, Ants Colony Strategy, and Eagle's Nest Strategy. The findings of this study contribute to conventional investment theory and help stakeholders guide their actions in light of the increasing presence of football investors who focus on direct financial returns.
Purpose
Since the beginning of the 2000s, investors have more frequently invested into professional football clubs, thereby radically changing the industry landscape. This review's purpose is to analyze and synthesize the state of research to understand motives, roles and implications of football club investors, and to provide recommendations for further research.
Design/methodology/approach
The paper presents an integrative literature review by identifying relevant English articles based on the search terms investor, owner, investment, ownership, shareholder and stakeholder in combination with soccer or football. Around 2,431 articles were reviewed. A total of 129 relevant articles was analyzed and synthesized within eight subject areas.
Findings
Investors in professional club football is a young research stream with a clear European focus. Investor motives and roles are diverse and implications are multidimensional. Investors mostly aim for indirect returns rather than pure profit- or win-maximization.
Research limitations/implications
Football clubs comprise an own investment class for which the identified, unique specifics must be considered to develop a financially successful investment model. Thorough academic research of investors' inherent characteristics, investor-club pairings and the pillars of long-term strategies for successful investor-club liaisons are avenues of future research. Furthermore, the results illustrate the need for research outside of Europe.
Originality/value
The paper is the first systematic, integrative review of existing literature in the domain of equity investments into professional club football. The findings genuinely show that, depending on the investor type and ownership structure, investors have a wide impact in professional club football.