It’s Not Just Physical: Gender and Bias in Equity Crowdfunding

Ayatakshi-Endow, Sukanya; Polkinghorne, Martyn; Okafor, Uchenna

doi:10.1007/978-3-031-14395-3_5

Cited by 1 publication

(1 citation statement)

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“…A high failure rate associated with R&D investment is commonplace. Entrepreneurial activities involve considerable investments [41], both financial and personal, so a failure usually means enormous losses to the entrepreneur. The failure of a newly listed firm greatly affects not only a founder's financial well-being and career opportunities but also potential investors' confidence about the company's capacity for growth.…”

Section: Discussionmentioning

confidence: 99%

Unraveling Interconnections: Analyzing the Impact of a Founder’s Characteristics on Business Growth Strategy

Liu,

Polkinghorne

2023

Businesses

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This study examines the influence of founder characteristics on the selection of business growth strategies in companies undergoing an initial public offering (IPO). The research is based upon quantitative analysis of data from entrepreneur-led IPOs on the London Stock Exchange. The study investigates the impact of founder’s work experience, external directorships, education, age, ownership, and the presence of a founder–CEO, on the choice between mergers and acquisitions (M&A) and research and development (R&D) as growth strategies. The results show that founders with a throughput functional background and extensive external directorships are more likely to adopt M&A as a growth strategy. Moreover, founders with higher education levels and a PhD are more inclined towards R&D investment. The findings also suggest that older founders are more likely to invest in R&D, whilst higher levels of ownership tends to deter R&D expenditure. Interestingly, the presence of a founder–CEO is associated with a lower likelihood of investing in R&D and a higher propensity for M&A, although these correlations are not statistically significant. These results shed light on the influence of founder characteristics on strategic decision-making during the IPO stage and provide implications for understanding the dynamics of business growth strategies in transitioning companies.

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Section: Discussionmentioning

confidence: 99%