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Capital Acquisition (capital + acquisition)
Selected AbstractsTapping Deep Pockets: The Role of Resources and Social Capital on Financial Capital Acquisition by Biotechnology Firms in Biotech,Pharma AlliancesJOURNAL OF MANAGEMENT STUDIES, Issue 8 2008Shanthi Gopalakrishnan abstract Strategic alliances with pharmaceutical firms allow small biotechnology firms to acquire needed financial capital in exchange for sharing new, cutting-edge technologies. This study draws from aspects of resource-based view and social capital theory to examine the factors that influence the extent of financial capital biotech firms acquire when forming an alliance with pharmaceutical firms. Using a sample of 184 alliances from the period 1995,2000, we found that alliances where the pharmaceutical firm has greater management control are associated with greater acquisition of financial capital by the biotech firm. We also found that the credibility of the pharmaceutical firm is positively associated with the extent of financial capital acquired by the biotechnology firm and that the number of patents that the biotech firm has is negatively associated to the financial capital the biotech firm receives. We discuss the implications of our findings for theory, research, and management practice. [source] An Empirical Analysis of the Relationship Between Capital Acquisition and Bankruptcy LawsJOURNAL OF SMALL BUSINESS MANAGEMENT, Issue 1 2009Howard Van Auken Ineffective capital acquisition decisions at start-up may lead to business failure and bankruptcy; a result which is both costly and disruptive to the owners and other stakeholders of the firm. To cope with the risk of failure, owners embark on a variety of risk-reducing activities whereas the U.S. government attempts to moderate the downside effects of such failures through the rules surrounding bankruptcy. Previous studies imply that as owners become more aware of the protections offered through the government regulation of bankruptcy, they should become less concerned with the effects of failure and be willing to raise higher levels of initial capital. Raising higher levels of initial capital, in turn, leads owners to take actions intended to reduce firm risk and to minimize the threat to their personal financial security. Data from a sample of small firms confirm our hypothesis by showing that as the level of initial capital acquisition increases, owners embark on activities intended to reduce firm risk. However, capital acquisition is not associated with the owner's familiarity with bankruptcy regulations. As a result, governmental objectives in establishing these regulations may not be achieved. Our findings have implications for firms' owners, consultants, and policymakers, in terms of the relationship between an entrepreneur's knowledge of bankruptcy laws and the financing of their enterprises. [source] Access as a Motivational Device: Implications for Human Resource ManagementKYKLOS INTERNATIONAL REVIEW OF SOCIAL SCIENCES, Issue 2 2003Pablo Arocena Summary In this paper we analyse the provision of incentives at work on the basis that the employment relationship is not solely an exchange of work for money. Particularly, in addition to a salary, a job also gives access to a working experience, which determines the potential for employee's human capital acquisition and for his social and professional recognition. Accordingly, we argue that the level of access defines the employee's opportunities for satisfying his self-actualisation and achievement needs. Further, given that the firm has the ability to regulate access by way of a number of organisational decisions, access becomes a powerful mechanism to activate the worker's internal motivation. In this respect, the main purpose of this paper is to study the effect of access and intrinsic motivation on employee's performance and job design. To that effect, we analyse the economic consequences of our arguments on access through a model of agency enriched with a number of psychological and organisational considerations. Our results and conclusions are consistent with much of the interdisciplinary research on the subject, as well as with the evidence emerging from the real business practice. They also provide a number of practical implications for personnel policies. First, in order to activate the individual's internal motivation, the job must reach a minimum value. Second, the positive effect of the employee's intrinsic motivation on effort decreases with the magnitude of monetary incentives. Third, the efficiency gains generated by the extension of job access increase with the employee's level of perceived risk. Finally, the costs of selection are a consequence of granting access. [source] | ||||||||||