dc.contributor.author | Gonzales Martinez, Rolando | |
dc.contributor.author | Mersland, Roy | |
dc.contributor.author | D'Espallier, Bert | |
dc.date.accessioned | 2021-03-16T09:46:34Z | |
dc.date.available | 2021-03-16T09:46:34Z | |
dc.date.created | 2020-11-17T04:12:02Z | |
dc.date.issued | 2020 | |
dc.identifier.citation | Martinez, 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.identifier.issn | 0148-2963 | |
dc.identifier.uri | https://hdl.handle.net/11250/2733560 | |
dc.description.abstract | Formal 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.language.iso | eng | en_US |
dc.publisher | Elsevier | en_US |
dc.rights | Navngivelse 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by/4.0/deed.no | * |
dc.title | Bifurcations in business profitability : An agent-based simulation of homophily in self-financing groups | en_US |
dc.type | Journal article | en_US |
dc.type | Peer reviewed | en_US |
dc.description.version | publishedVersion | en_US |
dc.rights.holder | © 2020 The Author(s) | en_US |
dc.subject.nsi | VDP::Social science: 200::Economics: 210 | en_US |
dc.source.journal | Journal of Business Research | en_US |
dc.identifier.doi | 10.1016/j.jbusres.2020.06.051 | |
dc.identifier.cristin | 1848600 | |
cristin.qualitycode | 2 | |