Foreign Entrepreneurs Research Articles

Culture, international stakeholders, and crowdfunding

AbstractResearch SummaryInternational crowdfunding platforms present a unique opportunity for foreign entrepreneurs to attract stakeholders, typically from either the entrepreneur's home‐country or the platform's host‐country. We argue that success in mobilizing these stakeholders is culturally dependent. Specifically, cultural distance from the platform's host country can impede the mobilizing of home‐country stakeholders. Conversely, while attracting host‐country stakeholders may appear advantageous, these benefits are uncertain and limited for culturally‐proximal entrepreneurs. This is because their offerings are seen as less distinct compared to host‐country local offerings while introducing additional information asymmetries. Given these dynamics, we theorize that culturally‐distant entrepreneurs have better fundraising prospects when attracting host‐country backers, while culturally‐proximal entrepreneurs are more successful when mobilizing home‐country backers. Our analysis of 55,266 foreign projects on Kickstarter supports these arguments.Managerial SummaryThis study examines how cultural differences affect the success of entrepreneurs using non‐local crowdfunding platforms. We find that entrepreneurs from countries that are culturally distant from the platform's host‐country are more successful when they focus on attracting backers from the platform's host‐country. In contrast, entrepreneurs from culturally similar countries do better when they mobilize supporters from their home country. For practitioners, this means that understanding cultural distance is key to successful crowdfunding. Entrepreneurs should tailor their outreach strategy based on their cultural distance from the platform's host country. Those from culturally‐distant regions should prioritize backers from the platform's country, while those from culturally similar regions should focus on home‐country supporters to maximize their fundraising success.

Authenticity and high performance: Nonmarket social, public and media strategies of foreign SMEs during a black swan event

AbstractNonmarket (NM) strategy is an emerging concept, similar to the notion of NM social, public and media strategy (SPMS). Previous literature has predominantly focused on larger corporations, often overlooking smaller enterprises. Additionally, much of the existing research has been centred on developed markets, leaving a gap in qualitative research. The current analysis seeks to elucidate how foreign small and medium‐sized enterprises (FSMEs) in transitional markets, such as Shanghai, adopt specific NM SPMS to mitigate the liability of foreignness (LOF) during a pandemic. The study utilizes a CGT approach, employing semi‐structured interviews with 27 participants, including foreign entrepreneurs and digital marketing specialists. Additionally, qualitative data was analysed comprehensively using Atlas.ti 9 software. The qualitative methodology implementation resulted in the creation of the authenticity and high performance framework from where specific strategies and general implications are presented. The study highlights two principal themes: (1) The need for increased flexibility and speed in social media message communication and (2) Customized FSME strategies through digital marketing—a never‐going‐back market digitalization. The second theme is subdivided into (a) Tailored public relations for FSMEs. (b) An increased need for internal cohesion—fostering a stable mindset and positive rapport among staff. (c) An increased need for trialling new target customers. (d) Creating a relatable story—showing a particular vulnerability can be viral and (e) Maintaining a strong reputation for operational performance.

Brain gain and country's resilience: A dependency analysis exemplified by OECD countries

Research background: In the light of growing demand for highly skilled workers, driven by rapid changes in the labour market and business environment, the ability to attract the talented determines not only business performance, but also macroeconomic development prospects. This stimulates national governments to create positive conditions for the development and use of the human capital of migrants. One of the most important factors of brain gain can be country stability as a sign of a comfortable environment for the realisation of intellectual potential. Purpose of the article: The study aims to investigate the links between the factors of country’s resilience and brain gain, including its partial indicators. Methods: For a comprehensive assessment, migration indicators were used by categories of talented migrants: highly educated workers, foreign entrepreneurs, university students and start-up founders that we integrated into an integral index of intellectual migration. The data was collected for OECD countries for 2023. The authors used the methods of statistical and correlation-regression analysis, economic-mathematical modelling in the GRETL software environment. Findings & value added: Research has shown that the components of country’s resilience (especially Economic resilience and Supply chain) have a positive effect on brain gain. Considering the partial indicators of brain gain, it is found that resilience in the country of destination has the greatest influence on the migration decisions of highly educated workers and foreign entrepreneurs, i.e. migrants with a positive experience of economic activity and entrepreneurial capital, which, in turn, strengthens the resilience and competitiveness of countries. Such conclusions are important for the improvement of brain gain management programs in terms of the development of the environment for the attraction and retention of talents.

Incorporation of foreign timber concessions in Soviet Russia in the 1920s

The article based on legislative acts of Soviet Russia and unpublished sources of the State Archive of the Arkhangelsk Oblast, describes the features of incorporation of Russangloles, Russhollandoles and Russnorvegoles joint-stock companies, operating in the North of Russia in the 1920s. The article analyzes the Standard Agreement on Timber Concessions (1922), which was used by the Soviet state and foreign entrepreneurs in the process of drafting concession agreements in the timber industry and the Scheme for Constructing a Standard Agreement on Timber Concession. The study of these sources allows reconstructing the principle of forming contracts contributing to Russangloles, Russhollandoles and Russnorvegoles functioning.

The attitude of the tsarist authorities towards railway – consequences for the Polish lands (until 1879). Jan Gottlieb Bloch’s “new” perspective

The article presents and analyses Jan Gottlieb Bloch’s views on the influence of tsarist rule on the development of the railway network in the Polish lands under Russian rule1 (up to 1879). The first part of the study is devoted to showing, in general, the tsars’ changing attitude towards the construction of railways in the Russian Empire. The specifics and conditions of railway construction in the Kingdom of Poland are presented. Bloch’s views and research results on the influence of the Russian authorities on the shape of the railway network in the Polish lands are then presented. Iron road projects submitted to the Russian authorities by domestic and foreign entrepreneurs, which did not receive approval, are listed and described. Thus, a picture emerges of “missed opportunities” – railway lines that would have been built had it not been for the specific policy of the Russian authorities. The conclusions of Bloch’s research do not contradict the common view in the literature on the negative influence of the tsarist authorities on the development of railways in the Polish lands under the Russian partition. Bloch’s research, however, goes a step further – it shows a measurable picture of the losses caused by the tsarist policy of a “railway desert”, particularly referring to Polish lands.

Entrepreneurial migrations and diffusion of innovations: the case of Apulia in the first half of the 19th century

Purpose Through the reconstruction of the events of some foreign entrepreneurs who worked in the territory of the Italian city of Bari in the first half of the 19th century, this paper aims to analyze the role of entrepreneurial migration in the economic development of Apulia land in this period. Design/methodology/approach This study adopts a theoretical framework that combines the concept of mixed embeddedness in a multifocal perspective, with the model of the diffusion of innovation focusing on the role of the so-called agency of actors, and of the network, in the dissemination of innovation. The theoretical framework is applied to multiple case studies to compare the evidence that emerged from the simultaneous analysis of several situations. Findings By analyzing how innovations have spread within the network of entrepreneurs of that time, it is possible to identify some relevant aspects related to the mechanisms of dissemination of innovations in the context of entrepreneurial migration. Specifically, the opportunity structure is intended in an even broader sense than indicated in the classic approach to mixed embeddedness: it is considered as the result of the joint interaction of the political, institutional and economic context of several places, and the behavioral dynamics of several groups. Research limitations/implications Due to the specific method chosen, the outcomes of the research might apply to a narrow context. Therefore, the results need to be tested and confirmed in further empirical studies, and by applying multiple research methods. Practical implications Findings are useful and significant in the analysis of the link that exists between the diffusion of innovations and migrant entrepreneurship, and then the conclusions can be applied and extended to the current phenomenon of migration-related innovations, with specific reference to developing countries. Social implications Findings can be applied and extended to the current phenomenon of migration-related innovations and highly skilled migration, with specific reference to developing countries. Originality/value This paper contributes to shed new light on the contextual and multifocal factors that influence the development of innovations in the networks of migrant entrepreneurship, in a specific historical period and a specific context. Combining social, human and financial capital with the wider opportunity structure, this study also provides a comprehensive understanding of the modalities through which migrant and high-skilled entrepreneurs could innovate.

Концессионное природопользование в Евро-Арктической зоне России в 1920-е годы: эколого-экономический и исторический аспект

The article provides a retrospective analysis of the development of concessions in the European North of Russia, showing their impact on economic development and the state of the environment. The purpose of the research is to study the experience of transferring the raw materials resources of the European north of Russia in concession to foreign entrepreneurs in the 1920s to attract investment in the implementation of projects for proper and economically efficient use of natural resources. The author considers forestry, fishing and fur-trading concessions as the object of the study. Based on the analysis of various published and archival sources the author reveals that the concessionaires, in the interests of obtaining income, violated state laws, including environmental laws. Critical analysis of the activities of foreign concessions creates a scientific basis for the implementation of national economic projects, and gives impetus to the development of domestic environmental science. The results of the study on the use of the experience of concessional environmental management are due to be applied in developing measures to prevent the negative impact of Arctic development on the environment, to attract investments, including foreign ones, to harmonize the interests of business and the local population.

Diffusion of Innovations in the Far East of Russia during the Late 19<sup>th</sup> to Early 20<sup>th</sup> Centuries (by the Example of Electrification)

The article analyzes the historical conditions, identifies channels, agents and features of the distribution of innovative products in the Russian Far East during the late 19th and early 20th centuries, using electrification as an example. It determines the role of electro-technical innovations in the modernization process of the region, highlighting the favorable historical conditions that developed for the diffusion of innovations in the Far East. The government policy, which aimed at opening up the Far Eastern economy and attracting foreign entrepreneurs, as well as the high susceptibility of the Far Eastern population to innovations, accelerated diffusion processes. The primary agents and translators of innovations were foreign nationals, particularly entrepreneurs from Germany. The study concludes that the diffusion processes of electrical innovations became the most crucial element of the modernization of the region, playing a critical role in forming the Far Eastern industry, developing urban amenities, changing everyday culture and improving the population's quality of life. The historical experience of electrification of the Far East at the turn of the 19th – 20th centuries shows that the diffusion of innovations occurs as Russia moves along the path of modernization, its readiness for openness and strengthening contacts with foreign countries.

Trade uncertainty and investments in an emerging country: a Fourier VAR approach

PurposeThis investigation aims to determine the effect of trade uncertainty on domestic investment (DI) and foreign direct investment (FDI) for the Turkish economy from the first quarter of 2005 to the first quarter of 2020.Design/methodology/approachThe authors adopt the vector autoregression (VAR) model augmented with Fourier terms. Using this methodology, the authors obtain the empirical results of the impulse-response functions and the variance decomposition analysis.FindingsThe empirical results demonstrate that a shock to trade uncertainty has a slight negative impact on DI for up to approximately 1.5 years, whereas its impact on FDI is negative but long-lasting. Moreover, the contribution of trade uncertainty to FDI is relatively higher than to DI in the error variance decomposition for the investigated period. These empirical results can be beneficial for shaping the Turkish authorities' trade policies in the following periods.Research limitations/implicationsThese findings have implications within the macroeconomic setting. Government authorities can provide tax exemptions for specified sectors and debureaucratize investment processes for both domestic and foreign entrepreneurs. Additionally, institutional quality and property rights should be protected strictly and developed gradually.Originality/valueThis study is the first to examine the impact of world trade uncertainty on Türkiye’s DI and FDI. Because trade uncertainty might act as fixed costs, this creates the option value of waiting and seeing the market, and firms hesitate to incur investment.

Enhancing Protection and Capacity For Micro and Small Digital Enterprises (MSES) Through Facilitation of Product Standardization in Indonesia

Objective: The evolution of digital ecosystem has led to highly dynamic developments in buying and selling transactions. A noteworthy recent phenomenon is the objection from Micro and Small Enterprises (MSEs) in Indonesia concerning the upsurge in cross-border trade through e-commerce and social commerce, posing a significant threat to local businesses. Notably, the Ministry of Cooperatives and SMEs (KemenKopUKM) is proposing a revision of regulations related to trade via electronic systems, aiming to incorporate price limits for imported products. Alongside the challenge posed by foreign entrepreneurs, the quality of domestic MSE products is a major concern, hindering their ability to compete with imported counterparts. Thus, it is imperative to enhance their competitiveness. Methods: This research employs dogmatic legal research methods, meticulously analyzing and evaluating legal regulations pertaining to MSEs. Conclusions: The research found that cross-border trade is now an unavoidable reality, necessitating ongoing efforts to enhance the protection and capacity of domestic MSEs. A key approach to safeguarding MSEs involves exerting control over imported products, currently subject to minimal supervision in e-commerce and social commerce. Additionally, enhancing product standards can significantly elevate the quality and appeal of MSEs’ offerings, ultimately boosting their competitiveness.

The economic performance of Italian olive oil companies: a comparative quantitative approach using the Anova and Tukey-Kramer methods

<p>Italian olive oil companies play a significant role in this nation's economy, which is among the top in the world for its geomorphological and meteorological characteristics. This research analyzed the performance of three profitability ratios (return on equity (R.O.E.), return on investment (R.O.I.), and return on sales (R.O.S.)) of 3184 companies from 2013 to 2022. Average ratios for each year and critical descriptive statistics were calculated. Broken lines and interpolating curves, obtained from sixth-degree polynomial equations maximizing R<sup>2</sup>, represent the trends. One-way ANOVA and Tukey-Kramer methods facilitated statistical comparisons between macro-regions. Despite the regular consumption of olive oil, the profitability of businesses has been erratic and fluctuating, probably due to the varying productivity of raw material crops. The pandemic seems to have had no impact. There are no statistically significant differences between macro-areas. The results are helpful to Italian and foreign entrepreneurs who can relate their situation to the average situation in context, highlighting possible gaps that, if negative, must be bridged with a timely management review. National and supranational political authorities can also use this study to orient the frequent support policies in the agricultural and agro-industrial sectors. So too can the bodies in charge of food education, especially for young people, can encourage the use of olive oil where it is lacking. The main limitation of this study was its focus on a small set of profitability ratios. In the future, the study should consider other profitability and asset ratios and investigate investments in sustainability, keeping in mind that all enterprises should contribute to developing eco-friendly production systems.</p>

ОТЕЧЕСТВЕННОЕ НОТОИЗДАТЕЛЬСКОЕ ДЕЛО ВТОРОЙ ПОЛОВИНЫ XIX – НАЧАЛА XX ВВ.: ХАРАКТЕРИСТИКИ И ОСОБЕННОСТИ ФУНКЦИОНИРОВАНИЯ ОТРАСЛИ

The article is devoted to the peculiarities of the development of the domestic music publishing business in the second half of the XIX – early XX centuries, the structure, organization and functioning of trade activities of large and small enterprises. Strategically important positions that create a holistic view of the mechanisms of obtaining material profit, effective ways of enlarging and optimizing printing production are identified, the system-forming factors influencing the process of individualization of its corporate identity are indicated. These include: foreign entrepreneurs who headed a number of the largest Russian firms; commercial strategies aimed at monopolizing the market and strengthening its dynamics. An important addition to this context are: the presence or absence of its own music printing, the production and sale of musical instruments, accessories and related products, as well as the experience of patronage and charity, which has no analogues in world practice, allowing us to talk about the exceptional cultural status and phenomenon of domestic music publishing. The work of well-known trademarks after 1917 in Soviet Russia and abroad becomes a great information resource of the declared topic. The totality of the results obtained creates an idea of the various facets of this phenomenon in the space-time dynamics and perspective and forms additional opportunities for its study

Advertising in Commercial and Industrial Journals Issued in the Tomsk Province in 1894–1903

Advertisements are an important source on the history of regional entrepreneurship and trade. The article considers the development of advertising in the Tomsk Province in the context of local modernization processes. Trade and industrial journals highlighted the socio-economic development of the region. They also revealed public interests and attitude to commerce, as well as pointed at the systemic changes that took place in Siberia in the late XIX – early XX centuries. The author used the methods of historical-systematic and content analyses to classify advertisements published in 1894–1903 by goods and services, territorial affiliation, and design. Local, metropolitan, nonresident, and foreign entrepreneurs offered the Tomsk population a diverse range of non-food, food, medical, and agricultural goods and services. The ads provided information on sale details, products, current prices, new offers, sales, and discounts. The growth of business activity in the Tomsk province in the late XIX – early XX centuries boosted the development of a single trading space, both on the provincial and domestic market.

Juridical Analysis of Franchise Law in terms of Civil Law Aspects

Franchising arises due to the impact of the advancement of the global economic system. In the business world, especially in the world of trade, Indonesia is dominated by trade in goods which is the result of cooperation between Indonesian and foreign entrepreneurs. There are many forms of franchising in our environment, including fast food businesses such as those from outside and within the country such as Mc Donald, KFC, Pizza Hut, Simple RM, Mbok Berek, Mrs. Suharti and many other brands that are familiar to businesses. home furnishings and office furniture such as Ace Hardware and Ikea. In Indonesia, the legal basis governing franchising is basically not listed in the Criminal Code, but is regulated in Government Regulation No. 42 of 2007 concerning Franchising and also in Regulation of the Minister of Trade of the Republic of Indonesia Number 53/M-DAG/PER/8/2012. Basically the franchise agreement is a type of agreement that is born and grows in the community whose arrangements can be seen in the previous explanation, therefore the franchise agreement is classified as an innominate type of agreement. As referred to in Article 3 of Government Regulation No. 42 of 2007 concerning Franchising, basically aspects of intellectual property rights play a very important role in it. The forms of legal protection contained in a franchise can be classified into two types of legal protection, namely protection in the form of preventive and repressive protection, while the forms of sanctions that can be applied are in the form of administrative sanctions, written warnings or can also be subject to revocation of STPW for Franchisor and Franchisee. who violate the provisions. As a social institution in the field of franchising, or what we are more familiar with as franchising, it is certainly not free from all its weaknesses, even so, this system still has various principles of benefit and advantages in it.

Privatisations, FDI, and Greece’s regional economic recovery: an empirical study of perceptual view of investors

ABSTRACT This paper aims to explore the perceptions of domestic and foreign entrepreneurs (businesspeople and/or managers) operating in Greece towards the spatial diffusion of FDI effects caused by the privatization programme implemented by the Greek government after an economic crisis. In particular, it investigates whether attracting foreign direct investors through the ongoing privatization programme could be a policy tool for the country's recovery from the prolonged 2008 global economic crisis. To that end, it presents the results of a multinomial logistic regression model based on survey data from a significant sample of domestic and foreign investors in Greece. The key finding of this study suggests that the positive effects of FDI on the recovery of Greece from the economic crisis are more likely to benefit the country's economy as a whole than only the local economy in which the FDI is located. This finding is stronger for entrepreneurs who are (moderately) optimistic about the role of the privatization programme in attracting the interest of foreign investors than others. Overall, there is evidence that FDI attraction policies can help all Greek regions to recover from an economic crisis.

Canada’s bid to attract technology talent

The Canadian government began implementing a Tech Talent Strategy in July 2023 that eases immigration restrictions to attract foreign entrepreneurs and skilled workers. The initiative, greeted with overwhelming demand on its launch, responds to a shortage of tech skills in the domestic workforce and targets H-1B visa holders in the United States.

Трудовые отношения и конфликты на концессионных предприятиях лесной промышленности Архангельской губернии в 1920-е годы

This article dwells on the labour relations at the timber enterprises of the Arkhangelsk Province granted by the Soviet government as a concession to foreign entrepreneurs in the 1920s. The main sources include archival (concession contracts and reports, results of inspections of concessionary enterprises by the authorities, shorthand reports of meetings of Soviet party and trade union organizations, materials of factory rates commissions and investigative and judicial authorities), as well as published sources, primarily, contemporary (publications in newspapers and magazines). Emphasis is placed on the authorities’ attitude to labour conflicts. Timber enterprise concessions were of great international importance to the central government and economic importance to the local authorities; therefore, unlike at other concessionary enterprises, the authorities often supported the “capitalists”. The concessionaires, in their turn, being interested in attracting skilled workers to their enterprises and seeking to normalize relations with the population and the authorities on the territory designated for forest exploitation, were accommodating the employees by spending substantial funds to build housing as well as social and cultural facilities in the factory settlements. Labour relations and conflicts are examined in the article using the example of four personnel categories: skilled workers; labourers at the sawmills; peasants engaged in logging and delivering timber to the factories (loggers and rafters, united in artels); administrative and clerical employees. In addition, a conclusion is made about the specificity of labour conflicts caused by the post-revolutionary social expectations of the population.

Under the Risk of COVID-19 Epidemic: A Study on the Influence of Life Attitudes, Leisure Sports Values, and Workplace Risk Perceptions on Urban Development and Public Well-Being

This study examined the impact of attitudes toward life, recreational sports values, and workplace risk perceptions on urban development and public well-being under the risk of the COVID-19 epidemic in China. A mixed-method research study was conducted, and 2400 valid questionnaires were collected via purposeful sampling. The questionnaires were analyzed using the SPSS 26.0 statistical software and validated with basic statistical methods and Pearson’s correlation analysis. Semi-structured interviews were then conducted to collect the opinions of 12 respondents on the questionnaire results, including academics, foreign entrepreneurs and employees, local entrepreneurs and employees, and official institutions. Finally, all the data collected were discussed via triangulation analysis. The survey found that different cities’ social and industrial development and job market needs lead to different attitudes toward life, leisure values, and perceptions of job-seeking and employment risks. The smoother a person’s growing-up background, the better their learning history, the better their learning and working experience, and the richer their life experience; consequently, positive attitudes toward life, correct leisure values, and positive attitudes toward job hunting and employment can be cultivated. In addition, people with positive attitudes toward life, leisure values, and job hunting and employment can improve their city’s economy and environment for sustainable development, thereby improving their quality of life and increasing their well-being.

Perceptions of market orientation in emerging economy entrepreneurship: evidence from crowdfunding

PurposeThe purpose of this study is to examine how crowdfunding backer perceptions of market orientation and foreignness impact crowdfunding performance in emerging economies.Design/methodology/approachUsing content analysis software, the authors analyzed 756 Kickstarter campaign narratives from the emerging economies of Brazil, Russia, India, China, and South Africa for the period between 2009 and 2019.FindingsThe authors’ results show that behavioral market orientation signals are positively related to amounts raised while decision criteria signals are negatively related. The authors also find that foreign entrepreneur status interacts with the two market orientations to impact funding amounts.Practical implicationsWhen creating crowdfunding campaigns in emerging economies, domestic entrepreneurs should use high levels of behavioral market orientation rhetoric but low levels of decision criteria rhetoric within their campaign narratives.Originality/valueThis study unpacks the components of market orientation and examines their positive and negative effects on crowdfunding success in the context of emerging economies.

Culinary Globalization in Delhi: Filipino Sushi Chefs as Cultural Intermediaries

Culinary globalization in Indian cities has resulted in new patterns of food consumption and production. Aside from the increasing presence of global franchises such as Costa Coffee, McDonald’s and Kentucky Fried Chicken, local and foreign entrepreneurs have established restaurants that offer various national cuisines. In Delhi, for example, Japanese-themed restaurants cater to the city’s growing appetite for new culinary experiences. So far our knowledge of culinary globalization in Indian cities has focused on consumption: How emerging gastronomic patterns relate to identity formations. The production of cuisines as part of the city’s culinary globalization is rarely explored. In this paper, I focus on the role of Filipino ‘sushi chefs’ as cultural intermediaries who localize Japanese cuisine. This paper discusses their emergent practices of cultural mediation, namely adapting to local taste, peer mentoring and communicative labor. I argue that such practices of cultural mediation point to the social dynamics of cultural production.