The debt-equity financing decisions of U.S. startup firms

We examine the debt-equity decisions of startup firms using the Kauffman Firm Survey, the largest database of U.S. startups launched in 2004. To control for sample selection bias and the correlation among financing decisions, we employ a Bivariate Probit-Tobit model. Our results show that several firm characteristics such as growth prospects, firm size, tangible assets, and selling products, as well as owner characteristics such as net worth, experience, education and ethnicity explain the debt-equity decisions in the startup year. In addition, for firms that use debt, we document traits that explain the use of a particular type of business versus personal debt. Larger firms use more business debt, whereas home-based and growth firms use more personal sources of debt. Immigrants, owners who lack work experience and those who invest more time in the business tend to rely more on personal sources of debt.     

ExpertLens: A system for eliciting opinions from a large pool of non-collocated experts with diverse knowledge

The complexity of policy decision-making raises the need to elicit opinions from large and heterogeneous groups of stakeholders with broad and diverse sets of expertise. Existing options for elicitation include small face-to-face panels of experts by using the Nominal Group Technique (NGT), large Delphi panels whose members do not interact with each other face-to-face, and crowdsourcing, which involves an open call for input issued to a large community of people. In an attempt to close the gap between the practical needs of policy makers and the methodological challenges associated with eliciting opinions of large, diverse, and distributed groups, we have developed a new online elicitation system and methodology called ExpertLens. By optimizing the direct interactions of NGT with the larger number of Delphi participants and the wisdom of “selected crowds,” our approach is designed to save on the costs associated with traditional expert panels, while increasing accuracy in elicitation by reducing the potential for group process losses that can occur in large, diverse, and non-collocated panels whose members interact via asynchronous online discussion boards. The ExpertLens approach is iterative, does not require participants to develop consensus, and determines what the group “thinks” by statistically analyzing data collected in all rounds of the elicitation. This paper describes the ExpertLens system and methodology, briefly discusses recent ExpertLens trials, provides conceptual arguments for why it is an appropriate model for eliciting expert opinions, illustrates its main components and analytics by using an infrastructure investment example, and discusses a research agenda for testing the underlying tenets of the ExpertLens approach.     

Naturalizing bodies and places: Tourism Media Campaigns and Heterosexualities in Costa Rica and New Zealand

Drawing on feminist, queer and poststructuralist theories of sexuality this article contributes to the field of tourism branding. Research findings on tourism media campaigns-New Zealand’s ‘100% Pure campaign’, and Costa Rica’s ‘No Artificial Ingredients’—illustrate how places and bodies are co-constructed and heterosexualized. We argue that both campaigns employ familiar landscape tropes of ‘nature’, ‘pureness’, ‘wilderness’, and ‘escape’, which discursively construct places and bodies as ‘natural’, ‘exotic’, and ‘romantic’. We draw on ethnographic and interview data to consider the lived experiences of these discourses for tourists and tourism businesses. By paying attention to the sexualized representations made and remade through tourism media campaigns the article challenges hegemonic conceptualizations of sexualities and offers an exciting future research agenda for tourism studies.     

The blame game: An attribution theory approach to marketer-engineer conflict in high-technology companies

Marketer-engineer conflict is a pervasive and as-yet unresolved problem of critical importance to high-technology companies. This study updates and extends marketing literature by applying qualitative research methods including the critical incident technique to examine the causes of conflict between marketers and engineers in high-technology companies. Narratives from both marketers and engineers are interpreted from an attribution theory perspective as well as in the context of recent management research on interfunctional conflict. Results draw attention to a high proportion of personal attributions, indicating high levels of relationship-conflict; these results are in contrast to the task-conflict typically addressed by the marketing literature. Discussion highlights the changes in high-technology organizational culture since first by described by Workman 15 years ago [Workman, J. (1993). Marketing's limited role in new product development in one computer systems firm. Journal of Marketing Research, 30 (4), 405-421.], and recommendations for managers are offered.