Is business formation driven by sentiment or fundamentals?

Kaivanto, Kim; Zhang, Peng

doi:10.1080/1351847x.2022.2038648

Cited by 5 publications

(6 citation statements)

References 24 publications

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“…However, it should be noted that the estimated value is very low. Thus, it could be interpreted that as the number of unemployed grows, their tendency to start a business as a solution to financial problems grows (see Nikiforou et al, 2019or Kaivanto & Zhang, 2022. Contemporary formulations of "necessity" and "opportunity" entrepreneurship are aligned with the situational, contingent approach which emphasizes external environmental factors (like financial problems) over internal psychological traits and states.…”

Section: Discussionmentioning

confidence: 99%

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New Firms Formation in Medical, Creative and Agri-Food Sectors as a Function of Local Conditions and Budget Policy of Polish Communes

Skica

Miszczyńska

Miszczyński

et al. 2023

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Theoretical background: The article will help to answer the question what factors contribute to the emergence of new companies in medical, agri-food and creative sectors. Moreover, the aim of the article is to examine to what extent the budget policy of communes determines the creation of new enterprises in each of the analysed sectors separately. Purpose of the article:The aim of the article is to examine the factors affecting new firms formation in medical, agri-food and creative sectors in Poland, as well as the impact of budget policy of local government units at commune level on entrepreneurship in chosen sectors. Research methods:The study was conducted by means of a panel econometric model. In particular, the study was based on FEM estimation modelling based on 2,477 communes in the years 2010-2021. Main findings:The conducted research confirmed that different factors affect new firms formation in studied sectors. The research proved that budget policy of communes influences new firms formation. Moreover, the study confirmed that individual elements of the local budget policy have a different impact on each economic activity. Thus, local budget policy should be profiled in terms of type of activity supported.Pobrane z czasopisma Annales H -Oeconomia http://oeconomia.annales.umcs.pl Data

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Section: Discussionmentioning

confidence: 99%

“…Nowadays local development is seen as a key factor in overall development and social cohesion (Coffey & Polese, 1985;Vázquez-Barquero & Rodríguez-Cohard, 2019;Kaivanto & Zhang, 2022). Development of a country is one of the crucial tasks of each government and simultaneously probably one of the hardest (Chenery & Taylor, 1968).…”

Section: Introductionmentioning

confidence: 99%

New Firms Formation in Medical, Creative and Agri-Food Sectors as a Function of Local Conditions and Budget Policy of Polish Communes

Skica

Miszczyńska

Miszczyński

et al. 2023

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“…Scholars from the Austrian school of economics have explored opportunity recognition in the entrepreneurial process at the level of financial rewards (Venkataraman, 1997). For example, Shepherd and DeTienne (2005), Felan et al (2021), and Kaivanto and Zhang (2022) suggested that the promise of potential financial rewards motivates individuals to identify more opportunities for innovation and that there is a positive relationship between financial rewards and the amount of opportunity recognition. At the same time, they argued that the presence of attractive and potentially profitable business opportunities “attracts” and “pulls” individuals to perform entrepreneurial activities.…”

Section: Literature Reviewmentioning

confidence: 99%

“…At the same time, they argued that the presence of attractive and potentially profitable business opportunities “attracts” and “pulls” individuals to perform entrepreneurial activities. However, Kaivanto and Zhang (2022) and Shapero and Sokol (1982) conveyed that individuals are “pushed” to become entrepreneurs. The “push” here refers to their current negative situation, such as a fixed salary and the inability to earn a commensurate income for the effort, which push them toward entrepreneurship.…”

Section: Literature Reviewmentioning

confidence: 99%

The construction of a franchise entrepreneurship decision model: The example of convenience store chains in Taiwan

2023

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Opportunity identification, opportunity development, and evaluation studies are the main contents in the entrepreneurship literature, but there lacks in‐depth research on the decision‐making process of franchise entrepreneurship. Through case interviews and literature review, this paper presents the cases of four franchise entrepreneurs of convenience store chains in Taiwan as examples to develop a new model of a franchise entrepreneurship decision‐making process. In addition to the new model of this decision‐making process, the following key observations are made based on the case comparison analysis. (1) Franchise entrepreneurs with prior knowledge of relevant industries were all affected by prior knowledge in both industrial decision and organizational type (self‐employment/franchise/merger) decision. Franchise entrepreneurs without prior knowledge of related industries were influenced by social network in both industrial decision and organizational (self‐employment/franchise/merger) decision. (2) Franchise entrepreneurs with prior knowledge of related industries were influenced by prior knowledge and potential financial reward in brand decision. Franchise entrepreneurs without prior knowledge of related industries were influenced by social network and potential financial reward in brand decision. (3) Franchise entrepreneurs with prior knowledge of related industries were influenced by prior knowledge, potential financial reward, and financial resources of the franchise headquarters in the franchise type (franchising/commissioning) decision. Franchise entrepreneurs without prior knowledge of the relevant industry were influenced by the social network, potential financial reward, and financial resources of the franchise headquarters in the franchise type (franchise/authorized chain) decision. (4) Franchise entrepreneurs were influenced by potential financial reward and franchise headquarters management knowledge in the location decision of the start‐up process, regardless of having prior knowledge of the industry or not.

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“…It indicates that consumer preferences for the value of a product or service will affect behavior and purchasing decisions [4]. Several previous researchers have shown that consumer expectations and satisfaction can be classified into sentiment and serve as recommendations for business development [5]. Thus, the study of consumer sentiment analysis needs to be improved to improve the quality of products and services.…”

Section: Introductionmentioning

confidence: 99%

Sentiment Analysis of Customer Feedback Reviews Towards Hotel’s Products and Services in Labuan Bajo

Christanto

Singgalen

2022

Journal-ISI

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The feedback review column on the TripAdvisor website can process the sentiment analysis by classifying the positive and negative impressions of the consumer using machine learning, namely text mining. This study analyzes consumer sentiment for hotel products and services in Labuan Bajo based on feedback review data on the TripAdvisor website. Meanwhile, the algorithm used is Nave Bayes Classifier (NBC), Support Vector Machine (SVM), also SMOTE Upsampling for the k-Nearest Neighbor (k-NN) algorithm. The classification result shows 702 negative feedback reviews and 2531 positive feedback reviews. The evaluation of algorithm performance shows the accuracy of SVM is 78,30% and NBC is 78,29% compared with k-NN with 85,24% accuracy, using SMOTE Upsampling with a class precision description of 100% prediction negative (1784 true Neg & 0 true Pos) and 77,21% prediction positive (747 true Neg & 2531 true Pos). The class recall description also shows 70,49% true Negative (1784 pred Neg & 747 pred Pos) and 100% true Positive (0 pred Neg & 2531 pred Pos). These findings indicate that the k-NN algorithm shows the best result instead of the SVM and NBC algorithm, according to the sentiment analysis result of customer feedback reviews on hotel products and services in Labuan Bajo through TripAdvisor website.

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Is business formation driven by sentiment or fundamentals?

Cited by 5 publications

References 24 publications

New Firms Formation in Medical, Creative and Agri-Food Sectors as a Function of Local Conditions and Budget Policy of Polish Communes

New Firms Formation in Medical, Creative and Agri-Food Sectors as a Function of Local Conditions and Budget Policy of Polish Communes

The construction of a franchise entrepreneurship decision model: The example of convenience store chains in Taiwan

Sentiment Analysis of Customer Feedback Reviews Towards Hotel’s Products and Services in Labuan Bajo

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