Over and over : consumer engagement and turning sports tourists into fans

Travel to consume sport is an increasingly popular and prevalent leisure pursuit (Fourie & Santana-Gallego, 2011; Fredline, 2005). From those who follow Formula 1 across the globe (Henderson et al., 2010), to Tennis’ most ardent fans (Fredline, 2005), consumers probe further afield in order to satisfy their desires for memorable and gratifying travel couched within the domain of their favourite sporting activities. Football consumption, although traditionally aligned along geographical or demographic boundaries (Jones, 2000; Porat, 2010, Conner, 2014), is no different with 800,000 overseas tourists travelling to the UK to experience matches every year (Magowan, 2015). The extent of this travel provides opportunities tangentially for service providers geographically proximate to major finals and international tournament destinations (Daniels, 2005; Prayag et al., 2013), but also at a granular level for football clubs who seek to attract, engage, and maintain access to this lucrative market of affluent consumers who spend over £680m annually (Magowan, 2015). Extant research is focused on the impact of this economic influx (Daniels, 2007; Smith, 2005, Allan et al., 2007), with little consideration given to the tourists themselves, nor the potential to engage with these one-off visitors in order to transform them into more regular sources of income. Therefore, engagement is crucial and, from an operational perspective, the football ‘industry’ has recognised this. The increasing prevalence of social media transfer announcements (Lang, 2017), innovations such as Manchester City’s newly developed glass-tunnel (Hyde 2017), and ‘city-takeover’ events aimed at bridging the gap between player-and-fan, demonstrate how football clubs are adopting unusual strategies in order to encourage consumers to believe that they have ‘behind-the-scenes’ access to the machinations of the clubs that they love. However, these attempts typically focus on local fans, neglecting those who travel to consumer sport on a regular basis. As such, the question remains, how can football clubs engage these tourists and encourage them to become ‘fans’ (through repeat visits and recommendations to friends) and thus benefit financially from their considerable spending power

Investigating the influence of performance measurement on learning, entrepreneurial orientation and performance in turbulent markets

Purpose: This study aims to examine how comprehensive performance measurement systems (CPMS) influence entrepreneurial orientation, market-focussed learning (MFL) and employees’ perceptions of firm performance within a service-provision context. It also considers the moderating effect of low and high levels of perceived market-turbulence (low-turbulence environments [LMT] vs highly turbulent environments [HMT]) on the relationships between these concepts.Design/methodology/approach: PLS-SEM was used to test the hypothesised relationships using survey responses from 198 employees of a leading multi-branch travel agency in Iran.Findings: The findings demonstrate that CPMS positively influence MFL and, in doing so, have a positive effect on perceptions of firm performance. However, the findings also suggest that CPMS negatively influence entrepreneurial orientation, and therefore can also negatively influence perceptions of firm performance. Further, the relationships between CPMS, entrepreneurial orientation, MFL and firm performance are stronger for HMT when compared to LMT for all relationships.Practical implications: Industry managers should adapt their CPMS to include measures specific to intra-organisational entrepreneurship and innovation and should pursue greater understanding of changing customer preferences.Originality/value: This study highlights the importance of MFL as a means of avoiding the negative impact of underdeveloped market research on performance in the turbulent Iranian context. Contrary to previous literature, it provides an example of how CPMS can negatively influence entrepreneurial orientation in such environments.</p

Intangibles in a venture capital setting

In recent years intangibles have taken a more prominent role in the economy. Within the technology sector, young companies may have very little in terms of tangible assets. With no assets to serve as collateral, these companies often find it difficult to obtain funding. Venture capital firms attempt to fill this funding gap by providing finance in exchange for equity. This research considers intangibles from the point of view of the venture capitalist. Specific emphasis is made on patenting, as a formal way of protecting intellectual property. In high technology firms patents not only prevent competitors from copying inventions, but may also preclude them from advancing in their technologies. The availability of patent statistics enables objective measurement of the level of IP protection. The role of the reporting of intangibles in the investment decision is considered. Then, the role of intangibles per se is examined. The link between patenting and the level of investment is explored further. In a move away from the previous studies which focused only on existing datasets, unstructured interviews were conducted amongst early stage investor associations. Thereafter, a series of interviews was carried out amongst venture capitalists in the United Kingdom. Finally, a new dataset was constructed which includes information on venture capital investments, financial accounting information, and data relating to patenting. This data was then analysed statistically using regression techniques. Policy making organisations have been promoting the need for increased reporting on intangibles. However, key findings suggest that venture capitalists consider the existing level of reporting of intangible assets by investee companies to be adequate. Increased complexity within the financial reports does not reduce the level of due diligence carried out. They are more concerned about the nature of the intangibles than the financial reporting aspect. Although this study identifies a link between patenting and the level of investment by venture capitalists, they consider the business proposition as a whole, and no specific value is ascribed to patents.In recent years intangibles have taken a more prominent role in the economy. Within the technology sector, young companies may have very little in terms of tangible assets. With no assets to serve as collateral, these companies often find it difficult to obtain funding. Venture capital firms attempt to fill this funding gap by providing finance in exchange for equity. This research considers intangibles from the point of view of the venture capitalist. Specific emphasis is made on patenting, as a formal way of protecting intellectual property. In high technology firms patents not only prevent competitors from copying inventions, but may also preclude them from advancing in their technologies. The availability of patent statistics enables objective measurement of the level of IP protection. The role of the reporting of intangibles in the investment decision is considered. Then, the role of intangibles per se is examined. The link between patenting and the level of investment is explored further. In a move away from the previous studies which focused only on existing datasets, unstructured interviews were conducted amongst early stage investor associations. Thereafter, a series of interviews was carried out amongst venture capitalists in the United Kingdom. Finally, a new dataset was constructed which includes information on venture capital investments, financial accounting information, and data relating to patenting. This data was then analysed statistically using regression techniques. Policy making organisations have been promoting the need for increased reporting on intangibles. However, key findings suggest that venture capitalists consider the existing level of reporting of intangible assets by investee companies to be adequate. Increased complexity within the financial reports does not reduce the level of due diligence carried out. They are more concerned about the nature of the intangibles than the financial reporting aspect. Although this study identifies a link between patenting and the level of investment by venture capitalists, they consider the business proposition as a whole, and no specific value is ascribed to patents

Patenting and the early stage hi-tech investor: a preliminary analysis

Paper describing patenting and the early stage hi-tech investor

Reporting of intangible assets : views from venture capitalists

This presentation looks at the reporting of intangible assets with views from venture capitalist

Patenting and the early stage hi-tech investor: a preliminary analysis

Paper describing patenting and the early stage hi-tech investor

Non accounting patent data and venture capital investment in the United Kingdom

In this chapter, we explore the role of non-accounting information relating to patents in attracting more VC funding from UK based VC firms. We use of a novel dataset which covers various non-accounting measures related to patenting and venture capital deals. Much of the previous work on patenting and venture capital (VC) investment has been based on transactional data relating to venture capital deals carried out in the United States. We go beyond looking only at the number of patents but instead use several distinct 'patent measures' to examine whether patenting has an effect on the size of the investment made by the VC firm. We find that in the UK, patenting appears to be attracting more VC funding, particularly in investee companies which are not operating in the IT sector

Non accounting patent data and venture capital investment in the United Kingdom

In this chapter, we explore the role of non-accounting information relating to patents in attracting more VC funding from UK based VC firms. We use of a novel dataset which covers various non-accounting measures related to patenting and venture capital deals. Much of the previous work on patenting and venture capital (VC) investment has been based on transactional data relating to venture capital deals carried out in the United States. We go beyond looking only at the number of patents but instead use several distinct 'patent measures' to examine whether patenting has an effect on the size of the investment made by the VC firm. We find that in the UK, patenting appears to be attracting more VC funding, particularly in investee companies which are not operating in the IT sector