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This paper identifies the relative importance of human and physical capital for entrepreneurship. Microfinance clients were offered business training and a loan lottery of up to seven times the average loan size. Business training increased business knowledge, reduced business failure, improved business practices, and increased household expenditures by US$82 per year. It also improved financial and labor allocation decisions. These effects are concentrated among male clients, however. Access to larger loans, in contrast, had little effect, perhaps because current loan sizes already meet the demand of most clients. Despite these positive impacts, business training was not cost-effective for the lender. [ABSTRACT FROM AUTHOR]

In this study, we suggest policy implications for managing the risk of bankruptcy in housing presale projects in Korea. In conclusion, we find that the competing risk Cox proportional hazard model (PHM) is the best model for explaining the bankruptcy factors of projects and the banks that lend construction funds and policy authorities need to manage presale projects by considering bankruptcy factors (the initial presale rate, regional factor, the credit rating of the developers, the housing common factor). This study differs from previous studies in that it uses the competing risk Cox proportional hazard model and single-index model methodologies for empirical analysis, distinguishes the causes of business failure as default and the default of repurchase agreement options that are similar to actual defaults, and suggests policy implications based on the analysis. [ABSTRACT FROM AUTHOR]

Copyright of Çankırı Karatekin University Journal of the Faculty of Economics & Administrative Sciences is the property of Cankiri Karatekin University, Faculty of Economics & Administrative Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: The purpose of this study was to examine entrepreneurs' learning before, during and after entrepreneurial failure and understand the relationship between learning and recovery from failure. Design/methodology/approach: A qualitative multiple case study was carried out based on entrepreneur interviews who have experienced the failure of their businesses. Findings: The study finds that entrepreneurs learn both during the company's lifespan and post-failure, with distinct types and intensities of learning at different life cycle phases. It highlights the link between learning and emotions during the failure process, revealing entrepreneurs' limited awareness of their knowledge gaps, particularly during successful business phases, and shows the difference between women and men. Research limitations/implications: One limitation of this study is that the companies are all located in northern and central Portugal, and the number of entrepreneurs starting new ventures post-failure is limited. Another is a lack of comprehensive measurement of the economic impact, especially on the health of individuals who have experienced the impact of failure. The absence of concrete data hampers understanding and the development of targeted support mechanisms for these individuals. Originality/value: This study stands out for its unique approach, thoroughly exploring the intricate, profound and significant experiences during a crisis, such as a business failure, from the entrepreneurs' perspective. It delves into their learning processes before, during and after the failure, providing a comprehensive understanding. This study evidence that significant learning occurs during the operation of the business, and not during or after failure, due to the limitations imposed by the pain and disorientation it causes. Therefore, if recovery does not occur, learning does not happen either. It also highlights the differences between women and men in their learning experiences, adding a new dimension to the research. [ABSTRACT FROM AUTHOR]

Financial institutions use business failure forecasting models to manage their investments. The accuracy of the forecast is an important factor in determining how much capital is needed to cover credit losses. The majority of studies use traditional statistical methods to model business failures (e.g., discriminant analysis and logistic regression). Models constructed are usually quite inaccurate, however. It is due to the imbalance between the classes of training samples (bankruptcies account for a small percentage of all firms) that are used to construct the models. Currently, various machine learning methods such as the random forest method and the gradient boosting method are widespread. In this study, the main focus is on using extreme gradient growth to predict bankruptcy. Extreme gradient boosting, using LASSO or Ridge regularization, penalizes complex models to avoid overfitting. Also, during training, extreme gradient boosting fills in the missing values in the data set depending on the amount of loss. In this article, in order to increase the efficiency of extreme degree growth, it is proposed to use SMOTE technology to improve class balance. The quality values of the solutions obtained by the improved extremal degree increase are compared with the solutions obtained by other methods. [ABSTRACT FROM AUTHOR]

Copyright of Tourism Tribune / Lvyou Xuekan is the property of Tourism Institute of Beijing Union University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Although filing for bankruptcy is the primary form of economic relief for U.S. consumers in financial distress, pro se debtors lack access to the consumer bankruptcy system. An individual debtor faces many challenges when filing for bankruptcy without an attorney, since the debtor must rely on free access to the information provided by the U.S. Courts website. However, that information is vague and presented in complex legalese and dissuasive diction. On the other hand, U.K. debtors who need financial relief can file for bankruptcy through a clear and accessible bankruptcy filing process. U.K. debtors also have access to free consumer debt advice from a government-funded nonprofit organization, Citizens Advice. This paper discusses the differences in filing processes for U.S. and U.K. debtors. It ultimately concludes that the U.S. should implement similar filing processes to those in the U.K. to create a more accessible bankruptcy system, especially in the aftermath of the Covid-19 pandemic. [ABSTRACT FROM AUTHOR]

In numerous aspects of digital marketing usage, India is among the top two countries in the world. Almost all businesses currently use digital marketing. Thousands of start-up businesses with new ideas strive to break into the corporate sector every year. Unless they have a good marketing plan, start-ups and SMEs will be unable to compete with established and lucrative organisations. One of the leading causes of business failure is a lack of a comprehensive digital marketing strategy. However, not all of the tools available to a digital marketer are equally productive. The barrier between the "haves" and the "have nots" is narrowing as technology interventions become more widely available. Some digital marketing methods succeed, while others fail. In view of the importance of digital marketing usage in India, this paper provides a framework based on Diffusion of Innovation (DOI). It also makes use of Technology-Organization-Environment (TOE) theory for obtaining conceptual framework. Two constructs are used by the researcher to frame the conceptual framework: technical and environmental. The current study employs an exploratory research design in which the study attempts to investigate the level of awareness of digital marketing tools as well as the factors influencing the adoption of digital marketing by start-ups and Small and Medium Enterprises (SMEs) using a positivist research philosophical stand. For statistical interpretation, the study used the SPSS tool and Smart PLS. The current study's population consists of owners and managers of manufacturing and service-based start-ups and SMEs operating in Karnataka's North Karnataka area. To collect answers from the audience, this study employs a mixed methodological technique. Smart PLS - Structural Equational Modelling (SEM) is used to validate relevant hypotheses. For factor grouping and identification, the SPSS programme was employed. To obtain the SEM model, the discovered components were iterated using Smart PLS software. [ABSTRACT FROM AUTHOR]

In the face of COVID‐19, the federal government scrambled to provide emergency funding to businesses, but did not always take into account the heterogeneous nature of firms, especially within industries. Using the lodging industry as the application, this article shows that businesses' failure risk in a pandemic depends on a business' native ability to adapt to changing safety needs, in particular its ability to provide a socially distanced environment. Hotels not well suited to social distancing—for example, destination‐type hotels with large gathering spaces and many personalized services—offered deeper price discounts or closed down altogether during the pandemic. Simpler hotels with fewer ancillary services were more likely to remain open, with a substantial proportion actually increasing prices. Area infection rates mattered little. Effects are identified by comparing prepandemic expectations of outcomes to updated within‐pandemic expectations of outcomes, all while holding the place and the time of consumption fixed. [ABSTRACT FROM AUTHOR]

Micro-entrepreneurs are the strategic assets of the nation, given their mammoth share in maintaining the socio-economic equilibrium and inclusive growth of the economy. Despite their contribution to India's economy, they are still confronted with several on-ground hurdles, such as inadequate financial literacy among entrepreneurs, inaccessibility to affordable credit, financial mismanagement and lack of innovation. The extant literature has revealed that financial illiteracy and lack of innovation have raised pertinent concerns across the world, given the increasing rate of business failures. Nonetheless, the effect of financial literacy on organisational performance and innovativeness remains underexplored and fragmented. This study aims to examine the effect of financial literacy on the business performance and innovativeness of the micro-entrepreneurs in Delhi-National Capital Region (NCR) in India. Primary data were gathered from around 302 micro-entrepreneurs registered in Delhi-NCR through self-administered questionnaires. Data analysis was conducted through SmartPLS 4 software. The results indicated that financial literacy significantly impacts business performance and innovativeness among micro-entrepreneurs. Therefore, the study advocates wider participation of policymakers, financial service providers and managers in designing tailored strategies aimed to enhance the financial education of micro-entrepreneurs. [ABSTRACT FROM AUTHOR]

This article examines how passion affects an entrepreneur's business failure experiences. Our study explores the link between the type of passion an entrepreneur exhibits and the effect this has on the entrepreneurs' attitudes and reactions to business failure. We analyse the way in which passion type informs entrepreneurs identification with their business, and the entrepreneurial process. Entrepreneurs who experienced harmonious passion maintained an emotional distance from their business failure. Harmoniously passionate entrepreneurs had a rational perspective and were reflective, self-aware, adaptive and future oriented. Entrepreneurs who experienced obsessive passion, were defensive and reactionary about their business failure. Obsessively passionate entrepreneurs attached contingencies and experienced increased stress and conflict. Our findings suggest promising opportunities for future research on the interplay between heterogeneous passions, adaptive/maladaptive entrepreneurial action and regulated goal pursuit. [ABSTRACT FROM AUTHOR]

Decades into the digital era, publicly available data on Black, indigenous, and people of color (BIPOC) owned businesses are still remarkably lacking. In this commentary piece, the authors cover recent literature on the importance of BIPOC-owned businesses for equitable growth and BIPOC wealth-building. The authors then examine the sources of data that are available – public and private – for tracking the success or failure of such businesses. A BIPOC business database was constructed from a variety of sources and used by the authors to examine the potential pitfalls of such exercises. The authors close with a call for better data collection on BIPOC businesses. [ABSTRACT FROM AUTHOR]

In this paper we intend to substantiate the usefulness of Deep Learning, especially feedforward neuronal networks, in the prediction of business failure. This methodology provides very good results in terms of predictive performance when large sample sizes are available. Therefore, we have developed a business failure prediction model for European companies, based on this algorithm on a sample of 61,624 companies, of which 12,128 were declared bankrupt in 2016. As independent variables were considered ratios, and economic and financial data obtained from the financial statements for the year preceding the date of failure. Deep Learning achieves a predictive performance of 94%, where companies with larger size and lower solvency are more prone to failure. The obtained results have been tested on an independent test sample, different from that used to estimate and train the model. [ABSTRACT FROM AUTHOR]

Research has shown that most ventures fail, yet there has been limited work on investors' views of entrepreneurs who have failed in the past. We address this gap and call attention to an innate asymmetry between past failure and success. This asymmetry arises because success requires skill and luck jointly, whereas failure materializes due to either lack of skill (mistakes) or bad luck (misfortune). We ask: Are investors "failure-averse" and discount a failed entrepreneur even in the presence of additional information about entrepreneurial skill? Or do they make "rational inferences" in light of the additional skill information and proceed to fund the new startup? To test whether investors are failure-averse or engage in rational inference, we use experiments in the context of equity crowdfunding. The results suggest that prospective crowdfunding investors rationally integrate informational cues regarding past outcomes and entrepreneurial skill. [ABSTRACT FROM AUTHOR]

How does a social enterprise pursue its ethical mandate of social impact growth while navigating the perils of the most vulnerable stage in a venture's life—scaling up? We observe a small inclusivity social enterprise attempting to scale up rapidly to create equality for people with disabilities throughout the world. Our embedded, ethnographic study is terminated with the venture's unfortunate demise after their dramatic effort to scale up failed. By examining scaling decision-making and conflicts around creation reasoning longitudinally, our study identifies over-use of effectual logic—a creation reasoning type considered more ethical and more appropriate for high-innovativeness contexts than causal logic—as a major factor in the venture's failure. From this insight, we extend the parameters of effectuation theory to scaling up and dimensionalize its ethical implications. Guidance for social entrepreneurs to scale up successfully while maintaining ethical integrity is also provided. [ABSTRACT FROM AUTHOR]

Family firms have continued to register low survival rates. Across the world, research puts the survival rate of family businesses beyond the third generation at a mere single digit. The dilemma is also that despite the high failure rate of family-owned firms, the world’s most enduring companies also belong to this class. What do they do differently from the majority of their peers? Succession planning tops the list of the 21st century’s paradoxical challenges facing family business enterprises. Past studies have been barely conclusive on whether and how succession planning, or the lack of it, affects business economic performance. The current study assesses the effect of succession planning on business economic performance. The study used a deductive approach, a survey research strategy, and an explanatory research design to fulfil its objectives. Data analysis was done through descriptive as well as inferential analyses. Regression analysis results indicated that succession planning is a statistically significant determinant of business economic performance. The study recommends that firms should improve their measures targeted towards the prior identification of roles and leadership positions that require successors. The study also recommends the enhanced preparation, grooming, and development of identified successors. [ABSTRACT FROM AUTHOR]

Research Summary: We inductively examine how the careers of employee entrepreneurs unfold, uncovering the role of motives and attribution for failure. Founders expressing organizational misalignment motives for leaving established organizations engaged in "venture crafting" whereby they actively sought to build well‐functioning organizations. They built successful initial ventures and careers. Founders lacking organizational misalignment motives generally founded initial ventures that failed: however, those making internal attributions altered their behaviors and built successful careers; in contrast, founders making external attributions continued founding unsuccessful ventures. These findings suggest that building organizational capabilities—and not merely inheriting capabilities from existing organizations—is a cornerstone of building successful entrepreneurial careers. Our findings are based on detailed career history and archival data on employee entrepreneurs in the disk‐drive industry. Managerial Summary: Our study follows careers of individuals leaving employment to create ventures, providing insights for entrepreneurs and managers. Though entrepreneurs often choose to focus solely on building a stellar product, our study underscores the importance of crafting well‐functioning organizations for career and venture success. Moreover, in case where initial ventures fail, founders who make internal attribution generate a "second chance" at success, whether as serial entrepreneurs or by returning to paid employment. Those who attribute failure to external factors, however, repeat their mistakes. For managers, our study reveals that the genesis of successful entrepreneurial careers is rooted in organizational deficiencies that prevent talented employees from thriving as intrapreneurs. The venture crafters typically left their jobs only after attempts to amend these issues were unsuccessful. [ABSTRACT FROM AUTHOR]

Despite the key role of start-ups in economic development and job creation, one of the biggest problems of these start-up businesses is their legendary failure rate. One of the main reasons for the failure of these businesses is marketing limitations in the form of lack of financial resources, time, market knowledge and marketing expertise. Also, these companies lack strategic plans and their management is based on personal experience and business intuition. Entrepreneurial networking is one of the solutions that have been proposed to solve these limitations, because networking is considered to be the factor of restructuring the world trade architecture. The current research was conducted with the aim of explaining the role of entrepreneurial networking ability on the marketing performance of start-ups, taking into account the role of entrepreneurial orientation and market knowledge. The statistical population was 550 start-ups and fledgling businesses in Isfahan. The sample size was calculated using the Krejci and Morgan table of 225 companies that were selected by simple random sampling. A standard questionnaire was used to collect research data. Validity of the questionnaire was confirmed by experts and reliability using Cronbach's alpha coefficient. Data analysis was done using structural equation modeling with partial least squares approach and SmartPLS software to test fit and relationships between variables. According to the research results, entrepreneurial networking ability plays an important role in improving the marketing performance of start-up businesses; Therefore, managers who want to increase their marketing performance must identify and form strategic alliances faster than competitors. [ABSTRACT FROM AUTHOR]

The article shares the commercial career of Abraham Salaman, an English Jewish merchant from London, England who migrated to California during the gold rush. It highlights the experiences of Salaman in trading goods and mining gold in mountains in Monterey, California, his business success in Grass Valley as gold mining operations became highly capitalized quartz mills, the failure of his ostrich-feather business and eventual return to London. Also noted is the absence of Jewishness in Salaman.

In the era of Industry 4.0, online entrepreneurship is gradually seen as an essential tool that brings innovative values to the integration and development of a country. The rapid failure of nascent businesses stemming from a lack of human capital directed this study to explore the role of students' knowledge and technological innovativeness in motivating students to form e-entrepreneurial intentions. Information collected from 405 students from universities in Vietnam via online questionnaires was analysed using SmartPLS 4 to test the relationships among seven factors proposed in the research model. The results show that entrepreneurial education and prior experiences are the foundation for improving students' perceived feasibility and usefulness, forming their entrepreneurial motivation. Next, entrepreneurial motivation becomes an important premise for promoting students' entrepreneurial intentions more effectively. Furthermore, the study found that students' technological innovativeness moderated the relationship between their entrepreneurial motivation and intention to set up a digital business. [ABSTRACT FROM AUTHOR]

We examine the issue of entrepreneurial gender bias by focusing on the underlying mechanisms that impact the likelihood of receiving external venture-capital financing. We claim that gender bias negatively affects socially attributed dimensions (such as the stigma ascribed to entrepreneurs who have previously suffered a failure), while it has no effect on objective dimensions (such as the experience gained by entrepreneurs). Our results, based on 2088 US firms, show that female entrepreneurs are less likely to attract external funds if they have previously encountered failure. This negative effect becomes less impactful when novel or serial successful entrepreneurs are considered. Consequently, novel or serial successful entrepreneurs are expected to suffer less from gender bias if compared to peers who experienced a failure during their entrepreneurial career. [ABSTRACT FROM AUTHOR]

Research Summary: Through a longitudinal study of the product development portfolios of 457 US‐based firms in the biotechnology industry, we investigate how prolific inventors shape a firm's innovative direction following product development failure. Contrary to received wisdom, we argue and demonstrate that an increase in the number of prolific inventors is associated with a decrease in firm propensity to pursue novel product innovation following such failure. We further find that the presence of prolific inventors with greater collaborative strength and longer tenure negatively moderate the positive relationship between failure and the pursuit of novel product development. We discuss the implications of our results for research on learning from failure and strategic human capital. Managerial Summary: In case of adverse events such as product development failure, managers often rely on the firm's prolific inventors to help the firm learn from failure. Our study shows that there are limits to this approach. While prolific inventors increase firm propensity for novel product development, such propensity is significantly decreased following product failure. We further establish that the presence of prolific inventors with greater collaborative strength and long tenures is especially likely to reduce firms' pursuit of novel products, while the presence of those with low collaborative strength and tenure tend to increase this propensity. [ABSTRACT FROM AUTHOR]

This article presents a comparative analysis of machine learning models for business failure prediction. Bankruptcy prediction is crucial in assessing financial risks and making informed decisions for investors and regulatory bodies. Since machine learning techniques have advanced, there has been much interest in predicting bankruptcy due to their capacity to handle complex data patterns and boost prediction accuracy. In this study, we evaluated the performance of various machine learning algorithms. We collect comprehensive data comprising financial indicators and company-specific attributes relevant to the Pakistani business landscape from 2016 through 2021. The analysis includes AdaBoost, decision trees, gradient boosting, logistic regressions, naive Bayes, random forests, and support vector machines. This comparative analysis provides insights into the most suitable model for accurate bankruptcy prediction in Pakistani companies. The results contribute to the financial literature by comparing machine learning models tailored to anticipate Pakistani stock market insolvency. These findings can assist financial institutions, regulatory bodies, and investors in making more informed decisions and effectively mitigating financial risks. [ABSTRACT FROM AUTHOR]

We study the relationship between family and entrepreneurship decisions. Family influences entrepreneurship decisions via two channels: (i) Spouses work more in case of business failure and (ii) children increase the cost of failure. We use administrative matched owner–employer–employee–spouse data to estimate the predictions derived from our model. We find evidence that marriage decreases entry into entrepreneurship and increases average firm size, consistent with mechanism (ii) dominating the (i). Using direct information on children, we find that more children decrease entry into entrepreneurship and increase average firm size. [ABSTRACT FROM AUTHOR]

Copyright of Gümüshane University Journal of Social Sciences (GUSBID) / Gümüshane Üniversitesi Sosyal Bilimler Dergisi (GUSBID) is the property of Gumushane University Electronic Journal of the Institute of Social Science and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The impact of coastal water quality and its interaction with business results is still an unexplored field. This study uses a probit model and estimates marginal effects to investigate the impact of chlorophyll a concentration in the Mar Menor (Spain) coastal waters on the probability of business failure of firms located in this area. This coastal area has been in a critical ecological condition since 1980 when intensive irrigation agriculture expanded to the surroundings of this salted lagoon. Therefore, identifying the most damaging productive activities is crucial to convince companies and policymakers to overcome this situation. The most remarkable findings of our study are the following. First, we find opposing geographical impacts on the probability of business failure for companies located on the Mar Menor coast: A location effect showing a decreasing probability of business failure for companies located near the Mar Menor and a pollution effect indicating an increased probability of failure due to proximity to water pollution. Second, we further identify the economic sectors in which the pollution effect outweighs the location effect. We find that most of the examined productive activities seem to be negatively affected by the pollution effect , overcoming the positive effect of being located near the Mar Menor. Third, marine eutrophication increases the probability of business failure for some economic activities but not for others. Concretely, agricultural and transport activities benefit from being near the coast despite the quality of the water. These firms' probability of failure decreases when they are located near the sea), whereas a 1 mg/m3 increase of chlorophyll a raises the probability of business failure for accommodation services (8.4%), minor trade (9.5%), financial and real estate services (11%), and industrial and building activities (14.4%). This paper highlights the need to design effective environmental regulations to preserve the area of Mar Menor, considering the specific productive characteristics of the different agents. We highlight the sectors requiring additional incentives to implement pro-environmental strategies and reduce their contribution to environmental pollution. The main insights from this analysis are applicable to other coastal areas around the world that suffer from marine eutrophication due to human activities. • This study provides evidence about the relevance of environmental characteristics on business behaviour. • Two opposing and significant effects have been found: geographical location and marine water pollution. • This study helps evaluate the sectors impacted by the deterioration of water pollution in Mar Menor. • These sectors require additional incentives to implement strategiesc to reduce environmental pollution. [ABSTRACT FROM AUTHOR]

This work contributes to disaster research by exploring the impact on new firm creation of the COVID-19 pandemic and the pandemic-related policies. We develop hypotheses on the individual and combined effects of pandemic severity and public policies aimed at controlling the spread of the disease (shutdown policies) or protecting the economy from its negative consequences (demand stimulus and firm support policies). Then, we test these hypotheses using data on Italy in the first and second 2020 pandemic waves. Results show that pandemic severity negatively affected new firm creation during the first wave. Shutdown policies had negative effects too, especially in the regions where the pandemic was less severe. The effects of demand stimulus policies were positive and stronger the less severe the pandemic was while the impact of firm support policies was negative in the regions where the pandemic was more severe. All these effects vanished in the second wave. Plain English Summary: Disasters cause slowdowns in new firm creation that disaster recovery policies may aggravate or alleviate. Our analysis of the effects of the COVID-19 pandemic in Italy reveals that this major disaster resulted in a large drop in new firm creation rates. During the first pandemic wave, the drop was concentrated in the regions where the pandemic was more severe. Examining the effects of the shutdown policies implemented to contain the spread of the disease and the measures designed to protect the economy provides useful guidelines for policymakers. First, we show that shutdown policies inhibit new firm creation. Policymakers can however alleviate this negative effect by implementing less strict measures in the areas not severely affected by the disaster. Second, despite we understand that policymakers need to provide relief to existing firms in the most affected industries to avoid business failures, we indicate they should simultaneously invest in stimulating demand in these industries to sustain also new firm creation. [ABSTRACT FROM AUTHOR]

Business failure often leads entrepreneurs to craft public narratives. Taking a performative storytelling perspective of such narratives, we investigate how entrepreneurs jointly reevaluate their ideas and identities, and how this relates to their subsequent career paths. We theorize that the stories entrepreneurs tell shape who they become, changing not only how others see them but also how they see themselves. This broadens theoretical understanding of how failed entrepreneurs navigate their transition to a diverse array of subsequent careers, including different forms of serial entrepreneurship (same industry; new industry) and exit (startup employee; established business employee; exit with reentry). [ABSTRACT FROM AUTHOR]

This article analyzes the contagion effect on business failure, focusing on the Spanish hotel sector. The sample consists of 3,948 hotel micro-, small, and medium-sized enterprises in the 2012-2015 period and includes variables related to characteristics of the hotel and tourist destination. The results show that the contagion effect is significant, increasing the explanatory capacity of the model. Moreover, the results show that the analysis of the contagion effect should consider not only its simultaneous impact but also that deferred over time on the probability of failure. Thereby, this study found that after the initial shock, the contagion effect decreases and changes its sign from negative to positive in the fourth year. [ABSTRACT FROM AUTHOR]

Doubtlessly, the primary goal of every construction company is to maximise profitability. Without this, construction companies cannot survive. Incidentally, Ugandan local construction contractors (LCCs) continue to collapse in a short period, despite enormous public and private investments in the construction sector. This study investigates the profitability of LCCs in Uganda. An investigation was conducted to develop a regression model that would enable LCCs to enhance their profitability and minimise business failure. A questionnaire survey was conducted to collect primary data from 47 local construction companies registered with the Uganda National Association of Building and Civil Engineering Contractors (UNABCEC) and secondary data were collected from audited books of accounts covering from year 2016 to 2018. Thirty-five valid responses were received, representing a response rate of 74%. Data were coded into SPSS version 25, analysed and displayed using the relative importance index (RII), statistical correlation and regression analysis. The findings indicated that the profitability of LCCs was unsatisfactory when compared to the profitability ratios recommended for the construction industry and those of contractors in other countries. The results also indicate that the profitability of LCCs is significantly affected by the timeliness of payments, cost of finance, competitive bidding environment, project delays, price fluctuations and corruption tendencies, in that order. The findings of this study will benefit construction industry players by providing awareness about the factors affecting the profitability of LCCs. A regression model to enhance profitability was developed using regression analysis. This will help LCCs enhance their profitability by developing mitigation strategies that prevent low profitability; consequently, business failure will be minimised. [ABSTRACT FROM AUTHOR]

Copyright of Investigación Administrativa is the property of ESCA Santo Tomas - IPN and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The Cattle Livestock Business Insurance Program aims to provide protection for cattle from the risk of death and loss of cattle. This study aimed to determine the level of satisfaction of farmers with cattle business insurance in Gowa Regency, South Sulawesi Province. This research was conducted in May 2022. The population is all cattle farmers who follow cattle business insurance in Gowa Regency. The sample is farmers who follow cattle business insurance in Pattalassang sub-district, Gowa Regency amounted 45 people. The research method used was the interview method and FGD (Focus Group of Discussion). The type of data used is qualitative data, namely data in the form of words and quantitative data in the form of numbers or numbers Analysis of the data used with the CSI model. The results show that farmers feel much helped by the existence of AUTS which can minimize the risk of failure in the cattle business, namely the death of the cattle they receive, so that at least it can relieve and not be confused in looking for business capital again. It can also motivate and eliminate the worries of farmers to increase the scale of their business. Farmer satisfaction with AUTS is in the excellent category, which means very satisfied and in accordance with the expectations of farmers, both in terms of service characteristics, personal relationships, service arrangements and customer strength. [ABSTRACT FROM AUTHOR]

Purpose: This study highlights the business failure experienced in pandemic times, its impact on entrepreneurs' perception of failure and the reciprocal relationship between entrepreneurs' perception of failure and individual ambidexterity. Design/methodology/approach: The study provides empirical evidence on interpreting the long-term outcomes of business failure in pandemic times and develops a deeper insight by utilizing a two-year research design (time 1: 2020 and time 2: first half of 2021). It draws on data from 200 entrepreneurs who experienced business failure in the coronavirus disease 2019 (COVID-19) pandemic times which is a global crisis. Findings: The results revealed that both challenge and hindrance appraisals of failure are associated with individual ambidexterity over time. Self-efficacy and social valuation of re-entry decisions are mediators between hindrance appraisal and individual ambidexterity on both time 1 and time 2. Moreover, there is a positive reciprocal relationship between self-efficacy and ambidexterity throughout the two time periods. In regard to participants' current employment status, hindrance appraisal, self-efficacy and perceptions of ambidexterity linkages were found to be significantly different in terms of unemployment and employment. Originality/value: To the best of the author's knowledge, it is the first time that the individual ambidexterity of failed entrepreneurs was explored after hard times in the pandemic. It comprehensively helps to understand the importance of cognitive appraisal of hard times and identifies the perceptional and behavioral consequences of failure in entrepreneurship. [ABSTRACT FROM AUTHOR]

Using the legitimacy lens from institutional theory and a multi-level analysis of 29,175 Global Entrepreneurship Monitor respondents from 16 countries, we examine how national culture and societal attitudes influence individual level decisions to allocate entrepreneurial talent into revenue generating and not-for-profit social enterprises. We find the stigma of business failure to be positively associated with the probability that individuals will invest their entrepreneurial talents into a social venture. We also find that in both performance-based cultures and socially supportive cultures, the positive effects of the stigma of business failure on social entrepreneurship entry are decreased. Our findings suggest that informal institutions significantly influence the revenue generating-strategy of social entrepreneurship. However, they have no significant correlation to the nonprofit-strategy of social entrepreneurship. These findings underscore the complexity of balancing the competing logics of profit maximisation with social value maximisation in the decision to organise start-ups as social enterprises. [ABSTRACT FROM AUTHOR]

Micro and small enterprises (MSEs) are important to the local economy and are the most crucial source of employment in Thailand. Using the three-round survey data, we assess the impact of COVID-19 on the survival probability of MSEs in the tourism and manufacturing sectors. Enterprise characteristics such as owner characteristics, employment and business strategies are examined as potential factors to mitigate or stimulate business failures. The Cox proportional hazards model and Kaplan--Meier estimator are employed. Our findings reveal that the survival probability paths from the three rounds of survey show a gradual decrease of survival probability from the first week of interview and approximately 50% of MSEs could not survive longer than 52 weeks during the COVID-19 pandemic. We also find that the survival of MSEs mainly depends on location, number of employees, and business model adjustment, namely operation with social distancing and online marketing. Particularly, retaining employees and not reducing the working hours are one of the key factors increasing the survivability of MSEs. However, the longer length of the crisis reduces the contribution of these key factors. The longer the period of the COVID-19 pandemic, the lower the chance of MSEs survivability. [ABSTRACT FROM AUTHOR]

Failure to holistically manage risk in Small Medium Enterprises (SMEs) is one of the major causes of small businesses failure. To answer the research question as to what supports the adoption of Enterprise Risk Management (ERM) in SMEs, this research aims to analyse Risk Management (RM) in SMEs and develops a framework to facilitate the adoption of ERM. In achieving the primary objective, the research establishes for SMEs: the sources of information for RM; the importance of information governance in managing risk; the fundamentals of RM; and the pillars of RM. Previous research conducted on RM in SMEs reviewed the challenges of the successful implementation of ERM in SMEs and proposed different ways to address these challenges. The common ground reached by the research is that there is a need for the simplification of ERM in SMEs. We followed an interpretive philosophy with an inductive research approach and employed a qualitative methodological choice with a cross-sectional time horizon through data collection, employing a review of the scholarly literature, to, in the end, develop a conceptual Small Medium Enterprises Risk Management Framework (SMERMF). The limitation of the research is that the empirical part of the research has not been concluded yet. To present the results, that will be compared to the theory and conclude the research. [ABSTRACT FROM AUTHOR]

The going concern (GC) assumption forms the basis for preparing financial statements unless liquidation becomes imminent. ASU 2014-15 requires management to evaluate GC uncertainties quarterly and provide disclosures in the notes. I compare management GC disclosures between the pre-standard and post-standard regimes. I find that the market reacts negatively to substantial doubt in GC only after ASU 2014-15. Next, I find the effect of ASU 2014-15 for quarterly reports, but not annual reports. More importantly, by employing detailed textual analysis to extract and categorize mitigation-plan discussions, I show that certain types of management mitigation plans are interpreted more positively by investors after ASU 2014-15, thereby alleviating the negative market reaction. These plans include issuing debt, debt restructuring, increasing revenue, and selling assets. Finally, I demonstrate that management GC conclusions are more indicative of corporate failures after ASU 2014-15 and that mitigation-plan discussions are associated with firms' future viability. [ABSTRACT FROM AUTHOR]