Financing Entrepreneurship and Innovation in Emerging Markets

 
 
Elsevier (Verlag)
  • 1. Auflage
  • |
  • erschienen am 17. November 2017
  • |
  • 320 Seiten
 
E-Book | ePUB mit Adobe DRM | Systemvoraussetzungen
978-0-12-804026-3 (ISBN)
 

Financing Entrepreneurship and Innovation in Emerging Markets offers an original perspective on the links between macro data on innovation, data on micro-entrepreneurial processes and venture capital supply. The authors synthesize two disparate fields of research and thinking-innovation and entrepreneurship and economics-to illuminate how domestic companies compete and the business environment in which entrepreneurial firms operate. Its broad scope and firm linkages between processes at different levels leapfrogs research topics. For those investigating entrepreneurship and innovation in the early stages of economic development, this book demonstrates how micro and macro foundations of productivity, and hence economic growth and development, are inextricably intertwined.

  • Combines macro and micro perspectives on innovation processes
  • Reveals how economic growth and development are inextricably intertwined
  • Uses case studies to portray the entrepreneurial firm and its role in accelerating the speed of innovation and dissemination of new technologies
  • Identifies common flaws undermining public venture programs, including poor design, a lack of understanding for the entrepreneurial process and implementation problems


Lourdes Casanova, a Senior Lecturer and Academic Director of the Emerging Markets Institute at the Samuel Curtis Johnson Graduate School of Management at Cornell University, formerly at INSEAD, specializes in international business with a focus on emerging markets multinationals. She was voted in 2014 as one of the 50 most influential Iberoamerican intellectuals by Esglobal. A Fulbright Scholar with a Masters degree from the University of Southern California and a PhD from the University of Barcelona, she has been a visiting professor at Haas School of Business at the University of California at Berkeley, the Judge Business School at University of Cambridge, and at the Latin American Centre at the University of Oxford, University of Zurich, and Universidad Autónoma de Barcelona.
  • Englisch
  • Saint Louis
  • |
  • USA
  • 25,20 MB
978-0-12-804026-3 (9780128040263)
weitere Ausgaben werden ermittelt
  • Front Cover
  • Financing Entrepreneurship and Innovation in Emerging Markets
  • Copyright
  • In Praise of Financing Entrepreneurship and Innovation in Emerging Markets
  • Contents
  • Foreword
  • Acknowledgments
  • Chapter 1 Introduction
  • 1.1 Technological Progress and Economic Development
  • 1.2 Innovation and the Role of Transformational Entrepreneurship
  • 1.3 Entrepreneurship and the Quality of the Business Environment
  • 1.4 The Origins of Transformational Entrepreneurs
  • 1.5 Financing Entrepreneurship
  • 1.6 Structure of the Book
  • References
  • Part I Global Innovation Competitiveness
  • Chapter 2 Global Innovation Competitiveness: How Emerging Economies Compare*
  • 2.1 Measuring Innovation
  • 2.2 The Global Innovation Index
  • 2.2.1 Stability at the Top
  • 2.2.2 Innovation is Becoming More Global but Divides Remain
  • 2.2.3 High-Quality Innovation Continues to Matter, and China is Catching up
  • 2.2.4 Top Performers by Income Group
  • 2.2.5 Clustering Leaders, Innovation Achievers, and Underperformers
  • 2.3 Specific Characteristics of Innovation Systems in Emerging Countries
  • 2.4 Tailoring Innovation Policies to the Needs of Developing Countries
  • 2.5 Conclusion
  • Appendix: The Global Innovation Index (GII) Conceptual Framework
  • The Rationale for the Global Innovation Index
  • An Inclusive Perspective on Innovation
  • The GII Conceptual Framework
  • The Innovation Input Subindex
  • Pillar 1: Institutions
  • Pillar 2: Human Capital and Research
  • Pillar 3: Infrastructure
  • Pillar 4: Market Sophistication
  • Pillar 5: Business Sophistication
  • Pillar 6: Knowledge and Technology Outputs
  • Pillar 7: Creative outputs
  • References
  • Chapter 3 The Impact of Science and Technology Policies on Rapid Economic Development in China*
  • 3.1 Overview
  • 3.2 Four Phases of China's S&T Policy Evolution
  • 3.2.1 The Experimental Phase (1978-85)
  • 3.2.2 The Systemic Reform Phase (1985-95)
  • 3.2.3 The Deepening Reform Phase (1996-2006)
  • 3.2.4 Long-term Plan and Policy Optimization (2006-14)
  • 3.3 Outcomes and Analysis of S&T Reform
  • 3.3.1 S&T and R&D Investment
  • 3.3.2 Innovation Results: Patents, Products, and Research Publications
  • 3.3.3 Science Education
  • 3.3.4 Cultivation of an R&D Workforce
  • 3.4 What Other Countries Can Learn From China
  • 3.5 What China can Learn From Other Countries
  • 3.6 The Latest Reforms
  • References
  • Chapter 4 Tencent: A Giant Asserting Dominance
  • 4.1 Milestones
  • 4.1.1 Finding Its Identity
  • 4.1.2 Funding Its Ambitions
  • 4.1.3 Expanding Its Potential
  • 4.1.4 Venture Capital Investments
  • 4.2 Internationalization
  • 4.2.1 Patent Applications-An Early Effort to go Global
  • 4.2.2 WeChat as a Tool for Internationalization
  • 4.2.3 Investment in Gaming to Expand Global Footprint
  • 4.3 China's Innovation Ecosystem
  • 4.4 Tencent's Connected Universe and Unique Business Model
  • 4.4.1 Gaming
  • 4.4.2 Messaging and Social Networking
  • 4.5 Supporting Businesses
  • 4.5.1 Search Engine and Email
  • 4.5.2 Software and Apps
  • 4.5.3 Online-to-Offline (O2O) Services
  • 4.5.4 Payment Platforms
  • 4.5.5 Entertainment Platforms
  • 4.6 Unique Business Model
  • 4.7 Factors Contributing to Success
  • 4.7.1 Innovation in Products and Services
  • 4.7.2 Strong Leadership
  • 4.8 Chinese Market and Possibilities
  • 4.8.1 Growth of the Middle Class
  • 4.8.2 Young Population
  • 4.8.3 Shift to e-Commerce
  • 4.9 Protected Environment
  • 4.9.1 Collaborative Competition
  • 4.9.2 Tencent and Baidu Against Alibaba
  • 4.9.3 Tencent and Alibaba Against Baidu
  • 4.10 Challenges
  • 4.10.1 Challenges in Taking WeChat Global
  • 4.10.2 Challenges in the Gaming Business
  • 4.10.3 Challenges Faced in U.S. Market
  • 4.11 The Future
  • Appendix
  • References
  • Chapter 5 Policies to Drive Innovation in India
  • 5.1 The Evolving Policy Landscape and Research and Development Growth
  • 5.2 Review of GII Findings and Pillars, and Their Impact on India's Ranking
  • 5.3 Strengths and Weaknesses of India's Innovation Performance
  • 5.3.1 Top Indian Universities
  • 5.3.2 Publication Citations
  • 5.3.3 Mobile Networks, Information Technology, and Broadband
  • 5.3.4 Gross Capital Formation and Market Capitalization
  • 5.3.5 Small- and Medium-Sized Enterprises
  • 5.3.6 Intellectual Property Rights
  • 5.3.7 Access to Higher Education
  • 5.4 Conclusions and the Way Forward
  • References
  • Chapter 6 Flipkart and the Race to the Top of Indian e-Commerce
  • 6.1 Flipkart Today
  • 6.2 Early Years and Funding
  • 6.3 Becoming a Unicorn
  • 6.3.1 Customer Focus
  • 6.3.2 Introduction of Mobile Phones and Cash on Delivery
  • 6.3.3 Introduction of Mobile Phones, Music, and Movies
  • 6.3.4 Investment in Own Supply Chain
  • 6.3.5 Branding
  • 6.3.6 Expansion into Fashion and Lifestyle Products
  • 6.4 External Motivators: A Supporting Environment in India
  • 6.4.1 Availability of FDI
  • 6.4.2 Increasing Youth and Working-age Population
  • 6.4.3 Growing Economy
  • 6.4.4 Global Shift to e-Commerce
  • 6.4.5 Indians Embracing e-Commerce
  • 6.4.6 Innovation Ecosystem
  • 6.5 Amazon's Entry
  • 6.6 Regulation Affecting Indian e-Commerce
  • 6.7 Competitive Landscape in Indian e-Commerce
  • 6.8 Flipkart's Response to the Changing e-Commerce Landscape
  • 6.8.1 Change in Business Model Through Launch of Marketplace
  • 6.8.2 Acquisition of Myntra
  • 6.8.3 The Billion-Dollar Round of Funding
  • 6.8.4 First Signs of Trouble
  • 6.8.5 Misstep of Going App-Only
  • 6.8.6 Fall in Valuation
  • 6.8.7 Ownership and Management Changes
  • 6.8.8 Developing Its Own Business Model
  • 6.9 The Way Forward
  • 6.9.1 Game Theory-War of Attrition
  • 6.9.2 New Entry/Consolidation
  • 6.9.3 Impact of Future Policy Changes
  • Appendix
  • References
  • Part II Financing Entrepreneurship
  • Chapter 7 Banks, Credit Constraints, and the Financial Technology's Evolving Role
  • 7.1 Entrepreneurship and Finance
  • 7.2 Credit Constraints and the Role of Banks
  • 7.3 Microcredit
  • 7.4 Financial Technology and Marketplace Lending
  • 7.5 Conclusions
  • References
  • Chapter 8 Technology Startups, Innovation, and the Market for Venture Capital
  • 8.1 What Do Venture Capitalists Do?
  • 8.2 Industry Focus and the Role of Venture Capital in Fostering Innovation
  • 8.3 Exporting the VC Model: The Emergence of VC Hotbeds in China and India
  • 8.4 E-Commerce and the Role of the Internet
  • 8.5 The Next Frontier
  • 8.6 Conclusions
  • Appendix
  • References
  • Chapter 9 Corporate Venture Capital
  • 9.1 The Size and Evolution of the CVC Market
  • 9.1.1 Market Size
  • 9.1.2 Corporate Venture Cycles
  • 9.2 Organizational Forms of Corporate Venturing
  • 9.3 How Successful is Corporate Venturing?
  • 9.4 Corporate Venturing in Emerging Markets
  • 9.5 Conclusions
  • References
  • Chapter 10 Noninstitutional Forms of Entrepreneurial Finance: Angel Investments, Accelerators, and Equity Crowdfunding
  • 10.1 Early-Stage Funding and Angel Investors
  • 10.1.1 What Do Angel Investors Do?
  • 10.1.2 Size of the Market for Angel Investments
  • 10.1.3 Angel Financing's Impact
  • 10.2 Accelerators
  • 10.2.1 Basic Characteristics
  • 10.2.2 How Successful are Accelerator Programs?
  • 10.3 Crowd Investing
  • 10.3.1 The Business Model of Crowd Investing
  • 10.3.2 Market Size and the Role of Regulation
  • 10.4 Conclusions
  • References
  • Chapter 11 The Role of Government
  • 11.1 Market Failures and the Rationale for Government Intervention
  • 11.2 Institutional Reform Aiming to Create an Active VC Market
  • 11.3 Public Funding of Entrepreneurship
  • 11.3.1 Government Loans and Loan Guarantees
  • 11.3.2 The Government as Venture Capitalist
  • 11.3.3 Government-Sponsored Business Accelerators and Incubators
  • 11.3.4 The Role of Public Pension Funds and SWFs
  • 11.4 Entrepreneurial Finance Provided by Development Finance Institutions and Multilateral Organizations
  • 11.5 Conclusions
  • Appendix
  • References
  • Index
  • Back Cover

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