Updating the Crowdfunding Narrative

Policymakers concerned about stimulating small business and entrepreneurial growth need to better understand the dynamics of crowdfunding as a vehicle for that growth. The conventional wisdom is that raising cash through crowdfunding always benefits entrepreneurs. But that is not the complete picture. In reality, there are ways in which entrepreneurs, as well as VCs looking for new investments, may actually be left worse off after a successful crowdfunding campaign. This issue brief examines the potential pitfalls of a successful campaign. These include a moral hazard problem that comes into play when entrepreneurs explore both crowdfunding and venture capital investment, which can lead to a breakdown in negotiations between entrepreneurs and VCs, leaving the VC without a potentially lucrative project and the entrepreneur without the VC’s essential financial support, expertise, and guidance. While the brief focuses on reward-based crowdfunding platforms, the pitfalls described herein likely apply as well to peer-to-peer lending, real estate, and equity-crowdfunding platforms too.https://repository.upenn.edu/pennwhartonppi/1067/thumbnail.jp

Blockchain and other Distributed Ledger Technologies in Operations*

International audienceBlockchain is a form of distributed ledger technology (DLT) that has grown in prominence, although its full potential and possible downsides are not yet fully understood, especially with respect to Operations Management (OM). This manuscript contributes to filling in this gap. We identify three research themes in applying Blockchain technology to OM, illustrated through several applications to OM problems. Elsewhere, in a companion article, (Babich and Hilary (2018)), we provide a conceptual framework for the role of Blockchain and other DLT in OM, along with specific examples of research questions, and we demonstrate how research in economics can inform research in OM on Blockchain applications. Finally, we discuss possible future uses for the technology

Distributed Ledgers and Operations: What Operations Management Researchers Should Know about Blockchain Technology

International audienceBlockchain is a form of distributed ledger technology. While it has grown in prominence, its full potential and possible downsides are not fully understood yet, especially with respect to Operations Management (OM). This article fills this gap. After briefly reviewing the technical foundations, we explore multiple business and policy aspects. We identify five key strengths, the corresponding five main weaknesses, and three research themes of applying Blockchain technology to OM. The key strengths are (1) visibility, (2) aggregation, (3) validation, (4) automation, and (5) resiliency. The corresponding weaknesses are (1) lack of privacy, (2) lack of standardization, (3) garbage in, garbage out, (4) black box effect, and (5) inefficiency. The three research themes are (1) information, (2) automation, and (3) tokenization. We illustrate these research themes with multiple promising research problems, ranging from classical inventory management, to new areas of ethical OM, and to questions of Industrial Organization

Estimation of flexures of the reinforced concrete elements according to the National Ukrainian & European standards

The objective of this work is analysing of the calculating results of theoretical values of the beam flexure by the Ukrainian National Standard, European Standard and by the experimental data of concrete beams testing.The results of the experimental investigations of flexures of the reinforced concrete beams are shown. The theoretical comparison of the flexures of the reinforced concrete beams according to the Ukrainian National Standard and European Standard is done. It was proved that the flexures by these methods have an identical convergence with experimental data. The algorithm for determining deformations of materials at the known bending moments by using the method of simple iteration or method of successive approximations is proposed. The solution of this problem allows practical use of the National Standard and European Standard for calculating flexures. Analyzing of the experimental flexure and the calculated value is showed; the significant difference can be explained by the empirical coefficient

Estimation of flexures of the reinforced concrete elements according to the National Ukrainian & European standards

The objective of this work is analysing of the calculating results of theoretical values of the beam flexure by the Ukrainian National Standard, European Standard and by the experimental data of concrete beams testing.The results of the experimental investigations of flexures of the reinforced concrete beams are shown. The theoretical comparison of the flexures of the reinforced concrete beams according to the Ukrainian National Standard and European Standard is done. It was proved that the flexures by these methods have an identical convergence with experimental data. The algorithm for determining deformations of materials at the known bending moments by using the method of simple iteration or method of successive approximations is proposed. The solution of this problem allows practical use of the National Standard and European Standard for calculating flexures. Analyzing of the experimental flexure and the calculated value is showed; the significant difference can be explained by the empirical coefficient