Overcoming liabilities of foreignness : expanding to Africa as a foreign Venture Capitalist

Venture Capital firms face additional risks and challenges when investing in start-ups in foreign markets because of the increased geographical, institutional, and cultural distance to potential investment targets resulting in Liabilities of Foreignness. Despite these challenges, there are increasing numbers of cross-border investments in the African market. This dissertation explores the drivers of the increasing interest in African start-ups and how foreign investors are overcoming the liabilities of foreignness. The exploratory study uses a qualitative research approach in the form of semi-structured interviews with 12 active investors in Africa. The results highlight the numerous drivers of the growing African Venture Capital market and the different internationalization strategies applied by foreign investors. Moreover, foreign investors in Africa must adapt their traditional investment process to local conditions. Foreign investors use additional risk assessment signals the deal evaluation and not only invest in later rounds, but also place more emphasis on entrepreneurial characteristics and the expertise of local co-investors. Additionally, foreign investors conduct extensive risk analysis of potential macro-economic scenarios potentially impacting local business models. Post-investment activities by foreign investors are strategic by providing an international context to local African start-ups. This thesis adds to existing literature on internationalization of VC firms with a focus on the African continent.As empresas de Capital de Risco enfrentam riscos e desafios adicionais quando investem em start-ups em mercados estrangeiros devido ao aumento da distância geográfica, institucional e cultural em relação a potenciais alvos de investimento, resultando em Liabilities of Foreignness. Apesar destes desafios, há um número crescente de investimentos transfronteiriços no mercado africano. Esta dissertação explora os motores do crescente interesse nas empresas africanas em fase de arranque e a forma como os investidores estrangeiros estão a ultrapassar as Liabilities of Foreignness. O estudo exploratório utiliza uma abordagem de investigação qualitativa sob a forma de entrevistas semi-estruturadas com 12 investidores activos em África. Os resultados destacam os numerosos motores do crescente mercado africano de capital de risco e as diferentes estratégias de internacionalização aplicadas pelos investidores estrangeiros. Além disso, os investidores estrangeiros em África devem adaptar o seu processo de investimento tradicional às condições locais. Os investidores estrangeiros utilizam avaliações de risco adicionais para assinalar a avaliação do negócio e não só investem em rondas posteriores, mas também colocam mais ênfase nas características empresariais e na perícia dos co-investidores locais. Além disso, os investidores estrangeiros conduzem uma análise de risco extensiva de potenciais cenários macroeconómicos com potencial impacto nos modelos empresariais locais. As actividades pós-investimento dos investidores estrangeiros são estratégicas, proporcionando um contexto internacional às empresas locais africanas em fase de arranque. Esta tese vem juntar-se à literatura existente sobre internacionalização de empresas de capital de risco com enfoque no continente africano

Is FinTech a Disruption or a New Eco-system? An Exploratory Investigation of Banks’ Response to Fintech in Australia

This research-in-progress aims at investigating what moderating effects use of Agile Software Development (ASD) methods and practices has on negative performance effects of faultlines, i.e. specific configurations of attributes in team members. Based on literature in ASD and psychology, a model of the moderating effects of ASD practices is developed and is to be assessed using a global online study. Since ASD practices shape team work and can be linked to known moderators of negative faultline effects, we expect to find moderating effects of ASD methods and practices on faultline effects. Information on the prevalence and moderation of faultline effects in ASD teams will help with a more detailed understanding of how ASD practices work and the contingencies that can inhibit or support their positive effects. Insights into group functioning in ASD settings will provide guidance on which ASD practices can help with negative team dynamics

Relation between Bitcoin and its orks: empirical investigation on price movements and their respective volatilities

Cryptocurrencies gained increased interest recently with concern in various economic and financial related issues. Many investors made lots of money from cryptocurrency and others lost huge money from the same investment. The understanding of how this currency behave is thus crucial. This thesis aims to study the relation between Cryptocurrency and its forks. Specifically, we examine the effect of the forks of Bitcoin returns on the returns and volatility of Bitcoin and vice versa. Our sample includes prices of Bitcoins and portfolio of 17 forks for the period 2010-2017. We study the volatility of Bitcoin and its forks using the Dynamic GARCH model. Our model indicated that there is a strong positive relation between Bitcoin returns and the return of the forks of Bitcoin. However, from the volatility side the forks of Bitcoin has no effect on the Bitcoin returns

Unlocking the Talent Puzzle: Examining the Impact of Job Satisfaction, Organizational Commitment, and Career Development on Talent Attraction and Retention

The current competitive organizational market warrants the implementation of talent attraction and retention strategies to aid organizations faced with talent management challenges. To provide organizations with practical strategies and best practices, it is vital first to understand real-world experiences of organizations as well as employees. This dissertation’s objectives are to discover the relationship between job satisfaction, organizational commitment, and career development or advancement in influencing talent attraction and retention strategies. The comprehensive qualitative research study will incorporate interview and survey data from organizational leaders and employees within the Southeastern United States region and the Fintech industry space. The participants will aid the study in supplying actual experiences with job satisfaction, organizational commitment, and career development or advancement. The research findings will contribute to the existing literature on talent management, precisely the attraction and retention factors previously mentioned. The study will identify essential factors that drive top talent to join and remain with organizations and further enhance organizational strategy for talent attraction and retention. The research conclusions will provide organizational recommendations to drive strategies aimed at improving job satisfaction, organizational commitment, and career development or advancement. The insights will benefit organizations in creating appealing work environments that attract talent and growth environments that retain their human capital, contributing to sustaining long-term success

A review of compliance-s digitalisation in the fight against money laundering: an illustration from deloitte-s Luxembourg perspective

Digital transformation is vital to compliance expansion and risk strategy development that match future technological requirements. Reviewing the scope under which digitalised processes’ implementation evolves, this paper shows where compliance stands in the regulation’s technological revolution and the opportunities and challenges associated. Data management, heavy costs, lack of talent and a difficult cultural shift are just a few of the explanations for why it is among the last to hear about digitalisation. While improving efficiency, lowering costs, and increasing transparency are all critical components in its fruition. The results are eventually illustrated through a current proposed solution by Deloitte Luxembourg

Exploring how social interactions influence regulators and innovators: The case of regulatory sandboxes

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Establishing regulatory sandboxes for FinTech companies in the European Union to foster the development of the FinTech Sector ? an analysis

This paper aims to find an answer to the question whether and to what extent the concept of a Regulatory Sandbox for FinTech companies should be applied at the supranational level of the European Union. In several steps the term "FinTech" will be narrowed down and its effects on the global financial sector analyzed. Afterwards, the three most common regulatory approaches are presented, whereby the Regulatory Sandbox is described in more detail using the sandbox of the Financial Conduct Authority from the United Kingdom as an example. Finally, the relevant regulatory authorities in the EU are discussed. The results make clear that the economic importance of FinTechs is increasing significantly. Considering the fact that FinTechs from Great Britain account for almost three quarters of the total market volume, it is still clear that the EU must become much more attractive in the face of the coming Brexit in order not to lose ground globally. One way to do so is to provide regulatory certainty. A regulatory sandbox is suitable for this purpose, as it reduces uncertainty for companies and makes them more attractive for investors. Regulators also benefit from receiving direct feedback on their regulatory framework and being able to adapt and develop it accordingly. It is proposed that in the run-up to a joint European sandbox, interested National States establish their own national sandboxes, whereby all of them should decide slightly differently on both the structure and the objectives. Based on the experiences of the National States, it is up to the competent authorities in the EU to prepare a supranational sandbox. When implementing the establishment of such sandbox, clear coordination and responsibility of the actors as well as the assumed demand and potential problems have to be considered carefully

Art Investment Funds and NFTs

Art price inflation, rising levels of wealth, and the artworld’s financialization have changed the way investors view the art market. In an attempt to capture the momentous returns realized by successful collectors, art investment funds have emerged with the conviction art can be used as a speculative or strategic alternative asset. However, the majority of art funds have been dissolved or put on hold. This paper examines the investment characteristics of fine art to uncover the rationale for art investment fund failures, finding the art market’s inefficiency as the foremost explanation. Subsequently, non-fungible token (NFT) art and collectibles – a new digital submarket of the artworld – are explored as an alternative to fine art investment. Through analysis and comparison of both fine art and NFT markets, this paper argues the NFT art and collectibles market is considerably more efficient, and therefore a more viable investment option than fine art for art investment funds