The influence of founder age in early-stage new venture funding: A configuration perspective

Founder age is a significant signal influencing investors’ funding decisions for early-stage new ventures. Older first-time founders are starting more new ventures than ever before due to the aging of the workforce coupled with employment instability for long tenured employees. However, research findings regarding how founder age drives funding decisions are mixed. Ambiguity exists as some scholars emphasize the importance of youthfulness in driving entrepreneurship and innovation, while others advocate for the value of seniority in leading the new venture to success. A multiple case study of six angel investors was conducted using a uniquely constructed dataset of thirty-eight new ventures seeking funding. This study argues that prior research has been hindered by the lack of a comprehensive theory that accommodates the various signals delivered at the founder-level and the founder-investor level. Hence, the study extends signaling theory and entrepreneurial literature with empirical findings which demonstrate the interdependence between founder age, informational, and interpersonal signaling in determining an investor’s funding decision. Utilizing fuzzy set qualitative comparative analysis (fsQCA), this paper identifies combinations of signaling conditions linked to an investor’s funding offer. These findings are elaborated upon to develop a typology of successful signal configurations, advancing the understanding of the complex role of founder age in investor new venture funding offer decision-making. The study also introduces a new signaling configuration framework which integrates signaling theory and configurational concepts to capture the causal complexity of signaling phenomena, emphasizing the features of conjunction, equifinality, and asymmetry. The new theoretical framework captures the causal complexity inherent in signaling relationships and enhances our understanding of how and why combinations of different factors lead to a particular funding offer outcome. In practice, the study provides new venture founders insights which may be used to best position their fundraising activities as well as enables investors to identify areas susceptible to age bias which may obscure otherwise profitable funding opportunities

An Empirical Study of IT Innovation Adoption Among Small and Medium Sized Enterprises in Klang Valley, Malaysia

Purpose—The purpose of this research is to use and validate the Entrepreneurial Event model as a base model to investigate SME owners’ perception toward IT innovation adoption and use. This paper also attempts to investigate the key determinants of the adoption of IT innovation among small and medium sized enterprises in Kuala Lumpur, Malaysia. This study revised and validated the Entrepreneurial Event Model in a new context and tried to examine the effect of perceived desirability, propensity to act and performance expectancy on behavior intention to adopt and use IT innovation in SMEs companies.Design/ methodology/ approach—Based on the research model the questionnaire was developed using previous work in the areas of entrepreneurship (Entrepreneurial Event Model) and technology acceptance (UTAUT). The data used to test the hypothesis is collectedfrom various spectrums of Malaysian industries in Kuala Lumpur. A total of 1,000 businesses were identified and 412 completed questionnaires were available in this study. The research model was applied using the structural equation modelling technique.Finding—The results of this study indicated that perceived desirability, propensity to act and performance expectancy have a significant positive influence on behavioral intention, and explained a significant amount of the variance in predicting a SMEs owners intention to adopt IT innovation. Propensity to act is the strongest determinant of intention to use IT innovations among Malaysian SME owners follow by perceived desirability and performance expectancy. The results suggest that attractiveness of IT innovation is an important determinant towards the intention to adopt IT innovation. The result revealed that SME owners are more willing to use IT innovation, which is more attractive. Perceived usefulness (performance expectancy) of IT innovation is the third most important factor that SME owners consider when they want to adopt and use new technology in their jobs. The results also revealed that experience moderated the relationship between determinants and behavior intention.Research Limitations/implications—The number of male and female SMEsowners is not equal and our respondents were mostly men compared to women. This study measure intention to use IT innovation, and did not measure use behavior.Practical implications—This study extends to knowledge on IS adoption behavior research by using entrepreneurial event models in the context of technology acceptance.Furthermore, from the SME owners’ points of view, this study has shed some light on the adoption and use behavior and clarified the situation for SME owners when they want to adopt and use IT innovation to be successful in their job and market.Originality/value—This study is one of the first to utilize the Entrepreneurial Event Model (EPM) to the technology acceptance domain. It also provides a broader view of the IT innovation adoption decision and sheds some additional light on individual technology usage behavior

Dietary Supplementation with Omega-3 Polyunsaturated Fatty Acids Reduces Opioid-Seeking Behaviors and Alters the Gut Microbiome.

Opioids are highly addictive substances with a relapse rate of over 90%. While preclinical models of chronic opioid exposure exist for studying opioid dependence, none recapitulate the relapses observed in human opioid addiction. The mechanisms associated with opioid dependence, the accompanying withdrawal symptoms, and the relapses that are often observed months or years after opioid dependence are poorly understood. Therefore, we developed a novel model of chronic opioid exposure whereby the level of administration is self-directed with periods of behavior acquisition, maintenance, and then extinction alternating with reinstatement. This profile arguably mirrors that seen in humans, with initial opioid use followed by alternating periods of abstinence and relapse. Recent evidence suggests that dietary interventions that reduce inflammation, including omega-3 polyunsaturated fatty acids (n-3 PUFAs), may reduce substance misuse liability. Using the self-directed intake model, we characterize the observed profile of opioid use and demonstrate that an n-3-PUFA-enriched diet ameliorates oxycodone-seeking behaviors in the absence of drug availability and reduces anxiety. Guided by the major role gut microbiota have on brain function, neuropathology, and anxiety, we profile the microbiome composition and the effects of chronic opioid exposure and n-3 PUFA supplementation. We demonstrate that the withdrawal of opioids led to a significant depletion in specific microbiota genera, whereas n-3 PUFA supplementation increased microbial richness, phylogenetic diversity, and evenness. Lastly, we examined the activation state of microglia in the striatum and found that n-3 PUFA supplementation reduced the basal activation state of microglia. These preclinical data suggest that a diet enriched in n-3 PUFAs could be used as a treatment to alleviate anxiety induced opioid-seeking behavior and relapse in human opioid addiction

Bone mineral density in Jamaican men on androgen deprivation therapy for prostate cancer

<p>Abstract</p> <p>Background</p> <p>Androgen deprivation therapy (ADT) has been reported to reduce the bone mineral density (BMD) in men with prostate cancer (CaP). However, Afro-Caribbeans are under-represented in most studies. The aim was to determine the effect of androgen deprivation therapy (ADT) on the bone mineral density (BMD) of men with prostate cancer in Jamaica.</p> <p>Methods</p> <p>The study consisted of 346 Jamaican men, over 40 years of age: 133 ADT treated CaP cases (group 1), 43 hormone-naïve CaP controls (group 2) and 170 hormone naïve controls without CaP (group 3). Exclusion criteria included metastatic disease, bisphosphonate therapy or metabolic disease affecting BMD. BMD was measured with a calcaneal ultrasound and expressed in S.D. units relative to young adult men (T score), according to the World Health Organization definition. Patient weight, height and BMI were assessed.</p> <p>Results</p> <p>Mean ± sd, age of patients in group 1 (75± 7.4 yrs) was significantly greater than groups 2 and 3 (67 ± 8.1 yrs; 65±12.0 yrs). There was no significant difference in weight and BMI between the 3 groups. . The types of ADT (% of cases, median duration in months with IQR) included LHRH (Luteinizing hormone releasing hormone) analogues (28.6%, 17.9, IQR 20.4), oestrogens (9.8%, 60.5, IQR 45.6) anti-androgens (11.3%, 3.3, IQR 15.2) and orchiectomy (15.7%, 43.4, IQR 63.9). Unadjusted t score of group 1, mean ± sd, (-1.6± 1.5) was significantly less than group 2 (-0.9±1.1) and group 3 (-0.7±1.4), p <0.001. Ninety three (69.9%), 20 (45%) and 75 (42%) of patients in groups 1, 2 and 3 respectively were classified as either osteopenic or osteoporotic (p<0.001). Adjusting for age, there was a significant difference in t scores between groups 1 and 2 as well as between groups 1 and 3 (p<0.001). Compared with oestrogen therapy and adjusting for duration of therapy, the odds of low bone mineral density (osteopenia or osteoporosis) with LHRH analogue was 4.5 (95%CI, 14.3 to 3.4); with anti-androgens was 5.9 (95%CI, 32.7 to 5); with orchiectomy was 7.3 (95%CI, 30 to 5.8) and multiple drugs was 9.2 ((95%CI, 31 to 7.1).</p> <p>Conclusions</p> <p>ADT is associated with lower BMD in Jamaican men on hormonal therapy for prostate cancer.</p

Economic integration and security in the Middle East and North Africa: what prospects for a liberal peace?

Since the late 1980s governments in the Middle East and North Africa (MENA) have created commercial institutions in order to promote regional economic integration. The primary aim of this policy has been regarded as the promotion of economic welfare gains at the national level. A second, albeit less-emphasized goal, has been to promote regional peace through economic interdependence. This study examines the prospects for a liberal peace in the MENA by analyzing two stages of the commercial institutional peace. Firstly, the study considers whether commercial institutions have promoted intra-regional trade in the MENA. Secondly, it examines if economic interaction has had an impact on promoting peace within the region. Twenty states are considered here and the unit of analysis is the dyad-year over a 25-year period from 1990-2014. This study finds that commercial institutions in the MENA have only a limited positive correlation with trade volume and while there is a direct positive correlation between economic integration and peace in the region, this is quite limited. These findings suggest that the conclusions made by previous studies that demonstrate a direct positive correlation between commercial institutions (and economic integration more generally) and peace, may be less applicable to some regions such as MENA

Guidelines for Disclosing Genetic Information to Family Members: from Development to Use

[À l'origine dans / Was originally part of : CRDP - Droit, biotechnologie et rapport au milieu

Multicenter evaluation of the clinical utility of laparoscopy-assisted ERCP in patients with Roux-en-Y gastric bypass

Background and Aims The obesity epidemic has led to increased use of Roux-en-Y gastric bypass (RYGB). These patients have an increased incidence of pancreaticobiliary diseases yet standard ERCP is not possible due to surgically altered gastroduodenal anatomy. Laparoscopic-ERCP (LA-ERCP) has been proposed as an option but supporting data are derived from single center small case-series. Therefore, we conducted a large multicenter study to evaluate the feasibility, safety, and outcomes of LA-ERCP. Methods This is retrospective cohort study of adult patients with RYGB who underwent LA-ERCP in 34 centers. Data on demographics, indications, procedure success, and adverse events were collected. Procedure success was defined when all of the following were achieved: reaching the papilla, cannulating the desired duct and providing endoscopic therapy as clinically indicated. Results A total of 579 patients (median age 51, 84% women) were included. Indication for LA-ERCP was biliary in 89%, pancreatic in 8%, and both in 3%. Procedure success was achieved in 98%. Median total procedure time was 152 minutes (IQR 109-210) with median ERCP time 40 minutes (IQR 28-56). Median hospital stay was 2 days (IQR 1-3). Adverse events were 18% (laparoscopy-related 10%, ERCP-related 7%, both 1%) with the clear majority (92%) classified as mild/moderate whereas 8% were severe and 1 death occurred. Conclusion Our large multicenter study indicates that LA-ERCP in patients with RYGB is feasible with a high procedure success rate comparable with that of standard ERCP in patients with normal anatomy. ERCP-related adverse events rate is comparable with conventional ERCP, but the overall adverse event rate was higher due to the added laparoscopy-related events