Alternative Sources Of Funding Research Articles

Predicting crowdfunding economic success in the gulf cooperation council

This study aims to analyze crowdfunding’s economic success in the Gulf region as the Crowdfunding (CF) experience and practice in this part of the world tend to be unexplored in terms of research. In particular, the study examines whether the adoption of entrepreneurial finance (EF) principles in crowdfunding platforms affects the economic success of funding and entrepreneurs’ ability in the Gulf Cooperation Council (GCC) to access financial resources. The study uses an online questionnaire survey on Crowdfunding economic success in the GCC to collect information from the participants. Participants are investors, entrepreneurs, and startups from five Gulf countries (i.e., Saudi Arabia, Bahrain, Kuwait, Oman and UAE) in addition to several Crowdfunding platforms commonly used by crowdfunders in this region (such as Indiegogo, Kickstarter, Eureeca, Beehive and GoFundMe) with total members (102964). Signaling theory and principle-agent theory combine to make a theoretical foundation that explains the relationship between funders and fundraisers. The pilot sample consisting of 10 units was used to validate and verify the research instrument of the study. The research sample consists of 1145 respondents (sample size n = 1145) selected randomly from the five Gulf countries included in the study. The findings reveal that CF’s presence positively impacts economic fundraising success and that crowdfunding platforms are an effective financial technology (Fintech) tool for financing entrepreneurs in the GCC. We conclude with recommendations for future EF and CF research. The findings of this study will have implications for improvements in practices of economic and finance. They may be used as a guide towards advancing the management and performance of the crowdfunding platforms in the Gulf region. Presently, a very few number of published research on crowdfunding exist in this region. Moreover, to the best of our knowledge, there is no single study investigating crowdfunding as an alternative financing source in the GCC.

Multilateral financial institutions of the BRICS member countries in the context of new anti-russian sanctions

The topic is of current interest due to more economic and financial sanctions against Russia. The research takes its root in a standpoint that multilateral financial and economic institutions established on the basis of the BRICS’ agreements may become alternative sources of capital and finance in case of a full blockade of Russia as part of the world financial system. The practical significance of the research’s results sits in the development of approaches to forming a strategy for Russia in relations with multilateral financial institutions of the BRICS to support and finance selected fields of her economic activity under harsh economic conditions based on a targeted model of dealing with friendly and unfriendly countries. The article contains proposals and recommendations about potential adjustment of the Russian foreign economic strategy until 2025.

Evaluating the Management of Public Private Partnerships for the Provision of Affordable Housing in Nigeria

The Impact of Public Private Partnership is beginning to be more pronounced in emerging markets like Kenya and Nigeria as a preferred means for the delivery of Infrastructure and Housing. In terms of its popularity, the adoption and growth of Public private partnerships has been traced to under performance of Government Budgeting and lack of sufficient funding available to government for financing the different strategically important and development focused projects (including Social Housing), this is also in addition to governments poor risk management capabilities. The challenges facing public funding and its impact on the country’s development have increased the potential for public-private partnerships as an alternative to infrastructure and housing. The study examined the impact of public-private partnerships on affordable housing in Nigeria. It also includes other purposes; examining the impact of management contracts on the provision of affordable housing in Nigeria to identify the impact of the joint venture on the provision of affordable housing in Nigeria. The research adopted the survey research plan and used a structured questionnaire as a tool for data collection. Data analysis was performed in addition to mean and percentage descriptive statistics, as well as correlation and regression analysis. The results showed that Build Own Operate & Transfer Policy has a significant impact on the provision of affordable housing in Nigeria and Lease Contracts has a positive impact on the provision of affordable housing in Nigeria. The study concludes that for public-private partnerships to flourish and achieve affordable housing, each partnership must identify measures of success, be able to quantify and monitor their performance, and identify and address emerging issues. It was suggested that the government take responsibility for ensuring that an enabling institutional environment and infrastructure is provided to support PPP execution. It was also proposed that the government adopt and establish a Viability Gap funding framework to attract private sector participation. As alternative and effective sources of funding will promote affordability and enable public-private partnerships to thrive for the identification, development, funding, implementation, and successful management of affordable housing PPP’s in Nigeria.

Nowhere Else to Go: Determinants of Bank–Firm Relationship Discontinuations after Bank Mergers

The decision to change or terminate a bank-firm relationship has been demonstrated to be crucial for firm performance following bank mergers. We find both competition and the available firm collateral to be important factors in enabling firms to switching banks, instead of dropping their bank relationships. We also provide novel evidence that firms who are able to \textit{add} a bank relationship following a merger exhibit much stronger post-merger performance. Our findings are consistent with the interpretation that bank-mergers cause a reduction in lending to most firms, leading them to search for alternative sources of finance.

Crowdfunding as an innovative source of financing business initiatives in Poland

The significance of crowdfunding platforms enabling the financing of innovative business projects via the Internet has been increasing in recent years. The aim of the article is to analyze the largest crowdfunding platforms in Poland in terms of implementing business initiatives. The article consists of three parts; the first part includes a review of the literature and a presentation of selected definitions of crowdfunding and its models. The second part presents the characteristics and results of a study of the five largest crowdfunding platforms in Poland, i.e., Zrzutka.pl, Siepomaga.pl, Pomagam.pl, Polakpotrafi.pl, and Wspieram.to. The final part indicates the similarities and differences of the largest crowdfunding platforms in Poland as well as showing the possibilities they provide for people looking for an alternative source of financing for business projects. The article uses the prevailing literature as well as an analysis and evaluation of documents, reports, and the websites of the largest Polish crowdfunding platforms.

АНАЛІЗ РОЗРИВІВ ЛІКВІДНОСТІ ЯК МЕТОД ЗБАЛАНСОВАНОГО УПРАВЛІННЯ АКТИВАМИ ТА ПАСИВАМИ (НА ПРИКЛАДІ АТ «КБ «ПРИВАТБАНК»)

In the article it was explored the concept of asset and liability management. It was found that this process has a direct impact on the structure and liquidity of the bank's balance sheet, as well as sensitivity to fluctuations in interest rates on its financial items. Liquidity management is a priority in the bank's asset and liability management. It was justified that the best method of assessing the risk of liquidity loss is to analyze the gap in the maturity of financial requirements and liabilities. The basis of liquidity management is the concept of cash flow compliance, aimed at ensuring that based on the GAP-analysis of incoming cash flows are brought in line with the outgoing flows. It was revealed that an important system-forming institution of the domestic banking sphere is JSC CB «PrivatBank». From the point of view of asset and liability management, the main sources of mobilization of financial resources of this bank were be identified. It was found that due to the active work of JSC CB «PrivatBank» in the Ukrainian financial market, the greatest danger is the probability of liquidity risk. The emergence of this risk means that the institution may suffer losses, additional expenses or loss of income due to its inability to provide financing to increase assets and/or fulfillment of its liabilities in due time. In this context the GAP-analysis was performed for JSC CB «PrivatBank». For the purpose of liquidity gap analysis there were selected only financial assets and liabilities of the bank. All these funds were divided into following groups: on demand and up to 1 month, from 1 to 3 months, from 3 to 12 months, more than 12 months. It was made an assessment of the dynamics of changes in liquidity gaps in JSC CB «PrivatBank» in terms of maturity, as well as the total liquidity gap in 2016-2020. The necessity of developing measures to maintain liquidity in case of adverse events was substantiated. There were offered variants of scenarios of response to realization of bank liquidity risks. Emphasis was placed on the importance of finding alternative sources of funding that increase the bank's ability to withstand stressful situations and liquidity crises.

Alternative funding sources for Nigerian academic libraries outside government sources in the post-recession economy: A new normal

Alternative funding sources for Nigerian academic libraries outside government sources in the post-recession economy: A new normal

Adaptations of multinational subsidiaries for surviving host country crises: a case study of Venezuela

This study examines Venezuelan subsidiaries of multinational enterprises, analysing how companies adapt and survive in adverse business environments. Despite the prolonged, persistent Venezuelan crisis, there are multinationals that remain operational while facing government intervention threats, rampant inflation, currency shortages, and unfavourable labour laws. Using a case study approach, four subsidiaries are explored through face-to-face and telephone interviews with company managers, each representing distinct economic activities and business sectors. We found companies surviving the Venezuelan crisis developed new adaptation capabilities, including the ability to shorten the existing power distance, substitute limited resources, retain key talent, and obtain alternate funding sources. Understanding how these adaptation capabilities allow firms to operate in crisis provides valuable insights for managers and academicians and advances crisis management literature. Practical implications and areas for future research are discussed.

Exploring Alternative Funding Sources for Sustainable Development of Local Governments in Nigeria

This paper examines the impact of Government revenue allocation and Commercial Banks’ loans for the development of Local Government Areas in Nigeria in this current democratic dispensation. It investigates the use of traditional funding sources of total Local Government expenditure (that is recurrent and capital expenditures) together with Banks loans to the Agricultural sector as proxies of sources of finance for the funding of developmental projects in Local Government areas of the country. Time series data spanning a period from 1999 to 2020 (22 years) years were analysed using Augmented Dickey-Fuller (ADF). The findings revealed a highly restrictive impact of statutory revenue allocation on the socio-economic development of the third tier of Government. A significant proportion of public revenue allocation is for recurrent expenses, with minimal impact on the provision of needed infrastructures for the expansion of the socio-economic amenities in the rural areas. Similarly, the banks’ loans to the Agricultural sector has contributed to gross domestic product, however, this has not equally facilitated meaningful development nor improved agricultural modernisation in the rural areas as much as desired. Public borrowing has not halted the rural-urban drift through the provision of social and economic infrastructures. The paper, therefore, recommends the necessity of exploring alternative sources of financing for the sustainable development of the rural economy in Nigeria, given the important role of the rural and semi-urban economies in the overall national economy. A more responsive, creative and innovative financing strategy such as the establishment of a multi-level Rural Development Financial Institution might be appropriate that would fund five (5) identified critical areas of rural development like rural road network development, rural housing, rural energy, primary health centre, and rural-based small scale industries.

A mobile application for assessing the product success on crowdfunding campaign: the development and usability testing

Crowdfunding is one of the alternative sources of finance for product-based startups. Products are funded if the campaign is considered to be successful in reaching the target. The assessment of the success rate of product campaigns develops into three successive levels, namely overfunding, successful and unsuccessful. Due to the complication of setting up a product campaign on an online crowdfunding platform, a mobile application to aid campaigners needs to be developed. Moreover, it is essential to evaluate its ease to use. This study aims to (1) develop an android-based application, (2) evaluate the usability of the application based on user perceptions. The application ('POSCA') was developed by emphasizing user experience (UX), while the Use Questionnaire evaluated its usability. Ten participants were invited to evaluate the system usability and interface. The results suggest that 'POSCA' has good scores of usability: ‘efficiency’ = 49.11% in the fifth trial, ‘very-easy-to-learn’ (95%), ‘useful’ (85%), ‘easy-to-use’ (87%), and ‘satisfy-the-users’ (88%).

Supply of credit and corporate bond covenants

We study whether shocks to the supply of capital affect bond covenant structures using the collapse of Drexel Burnham Lambert, Inc. and the subsequent regulatory changes as an exogenous contraction in the supply of speculative-grade credit around 1989. We find that speculative-grade firms increase their covenant use significantly more than the investment-grade firms in the post-1989 period. This result is robust to using alternative control groups such as using only the BBB-rated firms, unrated firms, and employing matched sample analysis. Consistent with a supply effect, the increase in covenant use is higher for firms with high costs of switching to alternative sources of funds and high dependence on external finance. Overall, our results suggest that shifts in credit supply affect not only the debt amounts but also the bond covenant structures. Even contracting terms of firms with access to public debt markets are not immune to fluctuations in the supply of capital.

Cash Waqf for Public Health Expenditure

Recently, the COVID-19 pandemic and economic crisis have imposed constraints on government spending and increased borrowing to redevelop the economy. Thus, there is a need for alternative funding sources to ease the government's financial burden. Cash waqf has the potential to finance public health sector expenditures. Additionally, giving behavior plays a significant role in establishing cash waqf funds and ensuring the sustainability of waqf institutions. This paper examines the views of the public, specifically Muslims in the Klang Valley, Malaysia, regarding cash waqf and their willingness to contribute to it as an alternative financing method for public healthcare expenditures. The research framework combines variables from the Theory of Planned Behavior (TPB) and additional variables such as attitude, perceived behavioral control, religiosity, and trust in waqf institutions. The study finds that Muslims in the Klang Valley are aware of and willing to contribute to cash waqf for public health expenditure, especially during the COVID-19 pandemic. The study further reveals that attitude and perceived behavioral control are significant factors influencing their intention to contribute. These findings can encourage relevant authorities to consider cash waqf as an alternative financing source for public health expenditures, benefiting both Muslims and non-Muslims.

Indicators for the evaluation and monitoring activity оf the university incubator

The purpose of the article is to propose the indicators for the evaluation and monitoring activity, thedeveloping structure and functioning of business incubators located in the academic environment whichwould allow the organization of internal and external processes for researchers and students. The success ofa business incubator in the university environment represents primarily its value for the university and for theeconomic environment and the ability to react quickly to changing conditions inside and outside and developing the entrepreneurial ecosystem at national level. The degree of development of university incubators, thecapacity and quality of their functioning depends not only on the intensity of the support of the environment inwhich they operate, but also on their efficiency through attractiveness, promoting viable businesses and atthe same time being an alternative source of financing and propelling potential entrepreneurs.

The role of high-risk funds in financing innovative ventures in Poland

The phenomenon of a capital gap is a problem faced mainly by young, innovative enterprises. Due to running high-risk business activities, access to traditional financing is limited for them. This is why they seek alternative sources of financing. The paper attempts to answer the question of whether financing business activity by high-risk funds and by public capital is a good solution to support innovation. The paper shows the special role of financing ventures with high development potential, particularly those innovative ones, by means of high-risk capital. The article also describes the essence of private equity/venture capital operations and the principles of the activity of the Polish Development Fund (Polski Fundusz Rozwoju), noting PFR Ventures. The paper is based on rich literature, both in Polish and English, which includes results of several studies indicating the relationship between the use of risk capital and innovative business activity. The applied research method was based on a literature review, on the grounds of which the essence of the problem of financing innovative projects was indicated.

Pengelolaan Wakaf Uang di Indonesia

Cash waqf can play a role in supporting the overall development process, both in the development of human resources, as well as in economic and social development. The development of cash waqf has a strategic economic value. Through cash waqf, waqf assets in the form of vacant land can be utilized by building buildings or business facilities. Cash waqf has a positive effect on the economic empowerment of the community, waqf funds can also help empower small businesses. In addition, cash waqf plays a very important role as one of the pillars of social development and the development of a prosperous society. The results of the cash waqf investment can be channeled to help the operational costs of educational institutions, health institutions and social institutions. This is where cash waqf plays a role as an alternative source of funding for programs to improve the welfare of the people.

The IMF or the AMF: Defining the Future of Financing for Investment and Development Projects in Africa

Since independence the government of many African countries have depended on the International Monetary Fund (IMF) and the World Bank as their main sources of finance for major developmental and investment projects in their respective countries. Accordingly, besides the granting of loans to Low Income Countries (LICs) at zero interest rate, the IMF also assists member countries to resolve their balance of payment challenges as well as granting interest-bearing loans to both member and non-member countries. Similarly, the African Monetary Fund (AMF) which is a prototype of the IMF was created by the African Union (AU) and is not yet operational. Just like the IMF, the AMF is intended to fund major developmental projects in Africa. This article examines the IMF loans conditionality and the award of Special Drawing Rights (SDR) to African Countries as seen during the COVID-19 crisis. It argues that the AMF would not be the African countries’ panacea as far as funding for developmental projects in Africa is concerned. In this regard, the article further examines Agenda 2063 as a future development model for Africa, as well as the various sources of project finance as envisioned in the Frameworks Document of Agenda 2063. It concludes that IMF still has the financial muscle to fund developmental projects and resolved balance of payment problems in Africa despite alternative sources of finance recommended by Agenda 2063.

Promoting Creators Intentions: Measurement of Crowdfunding Performance

Crowdfunding is an activity to collect small amounts of funds from a large audience via the internet without involving a financing intermediary. This study aims to determine the effect of fundraising, product testing, relationship reliability, and awareness-raising on the performance of the crowdfunding platform as an alternative source of business or business funding. This research was conducted using a quantitative approach, where Google forms were distributed to 267 project proponents, owners, or administrators in ASEAN countries as a sample and 197 sets of questionnaires were returned with complete answers and further analyzed. The data analysis used includes descriptive analysis, Pearson correlation, and multiple linear regression analysis. The results of this study indicate that all independent variables, namely the creator's intention in the form of fundraising, product testing, relationship reliability, and awareness-raising, have a positive and significant influence on the performance of the crowdfunding platform. This has practical implications that the creator's intention must be a concern for project proponents and fund owners who invest or distribute their funds in addition to paying attention to the business proposal and the reliability of the crowdfunding platform operator.

PAID HIGHER EDUCATION IN THE PERCEPTION OF STUDENTS AND TEACHERS: THE EXPERIENCE OF SOCIOLOGICAL ANALYSIS

In a dynamically developing society, the modernization of the higher education system needs an up-to-date understanding of trends, problems and prospects for implementation in each direction. The purpose of the work is to identify the specifics of the attitude to the introduction of paid higher education of students and teachers, that is, the main agents of the provision and consumption of educational services. The implementation of research tasks was achieved using a quantitative method of sociological research - a questionnaire among students and teachers of the Volgograd Institute of Management - a branch of the RANEPA. The results of the study demonstrate an ambiguous attitude to this aspect of modernization: 53% of the surveyed teachers consider the introduction of paid higher education a necessary measure, 67.9% of students do not share this position. Respondents unanimously believe that fee-based education can improve the financial situation of the university, its material, technical and research base. The main risk of the development of paid higher education is associated with the difficulties of students and their families related to the financial provision of tuition on a fee-based basis. The identified problems can be compensated by the development of alternative sources of financing for higher education, including targeted training, as well as the expansion of opportunities for obtaining social support for students and their families.

Alternative sources of financing for the development of the social sphere of the NCFD regions

Alternative sources of financing for the development of the social sphere of the NCFD regions

The influence of liquidity risk on efficiency in rural banks: the moderating role of interbank borrowing fund

High competition in Indonesian banking sectors has resulted in the non-survival of rural banks in Indonesia in the long run. The lack of third-party funding becomes one of the most important factors that cause many rural banks to face liquidity risk. Hence, many rural banks use interbank borrowing fund as an alternative source of funding in order to meet their liquidity requirement. Moreover, this risk also leads to many rural banks in Indonesia having to deal with low efficiency problem. This research examines not only the influence of liquidity risk on efficiency but also the role of interbank borrowing fund as a moderator variable. Random effect regression analysis reveals that liquidity risk has negative influence on efficiency. Furthermore, as moderator variable, interbank borrowing fund is shown to enhance the influence of liquidity risk on efficiency. This research becomes guidance for rural banks in managing their liquidity risk and efficiency. In addition, this research also can provide direction for authority in setting some regulation regarding to rural banks’ activities in interbank market.