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dc.contributor.authorGonzales Martinez, Rolando
dc.contributor.authorMersland, Roy
dc.contributor.authorD'Espallier, Bert
dc.identifier.citationMartinez, R. G., D'Espallier, B. & Mersland, R. (2020). Bifurcations in business profitability : An agent-based simulation of homophily in self-financing groups. Journal of Business Research. doi:en_US
dc.description.abstractFormal financial institutions inadequately distribute startup capital to business ventures of ethnic minorities, women, low-educated, and young people. Self-financing groups fill this gap because in these associations agents accumulate their savings into a fund that is later used to provide loans to the members. This study builds and simulates an agent-based model that compares the profitability of businesses started by members of self-financing groups against businesses financed by commercial loans. The results indicate that—besides the selfgeneration of debt capital—businesses of members of self-financing groups can have higher returns due to the consolidation of social capital and the competitive advantage created through a dual process of homophily. Higher quotas of savings boost profits, but only up to a threshold, after which a bifurcation pattern—typical of complexity dynamics—emerges. The practical and theoretical implications of the findings are discussed and future research lines are proposed.en_US
dc.rightsNavngivelse 4.0 Internasjonal*
dc.titleBifurcations in business profitability : An agent-based simulation of homophily in self-financing groupsen_US
dc.typeJournal articleen_US
dc.typePeer revieweden_US
dc.rights.holder© 2020 The Author(s)en_US
dc.subject.nsiVDP::Social science: 200::Economics: 210en_US
dc.source.journalJournal of Business Researchen_US

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Navngivelse 4.0 Internasjonal
Except where otherwise noted, this item's license is described as Navngivelse 4.0 Internasjonal