Financial Efficiency of Unicorns: Regional and Sector Related Aspects

Kartanaitė, Inga; Krušinskas, Rytis

doi:10.5755/j01.ee.33.2.30798

Cited by 5 publications

(7 citation statements)

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“…, 2021; Damasceno et al. , 2021; Frare and Beuren, 2022; Kartanaitė and Krušinskas, 2022). Except for Damasceno et al.…”

Section: Resultsmentioning

confidence: 99%

“…, 2022); quantitative (12 articles) focusing in the majority of cases on US unicorns (Chernenko et al ., 2021; Malyy et al. , 2021; Kartanaitė and Krušinskas, 2022) and adopting regression (Chernenko et al. , 2021) and cluster analysis (Piaskowska et al.…”

Section: Resultsmentioning

confidence: 99%

“…“the ability of a firm to access and restructure its financing at a low cost” (Gamba and Triantis, 2008), can help unicorns to deal with environmental uncertainties. Also, regional and sectoral characteristics play a role in determining unicorns' financial performance, as described by Kartanaité and Krušinskas (2022), who shed light on the financial profile to explain the successful features of unicorns highlighting differences in financial performance due to specific conditions of economic sectors and regions worldwide. In line with this, Agrawal et al.…”

Section: Resultsmentioning

confidence: 99%

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Beyond myth: a systematic literature review on the emergence of unicorn firms

Giardino,

Delladio,

Baiocco

et al. 2023

JSBED

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PurposeThis study aims to provide a systematic and comprehensive examination of the underlying factors enabling the emergence of unicorn firms. By addressing this research gap and offering an integrative framework, it seeks to support future research efforts in understanding this phenomenon and contribute to the academic debate around it.Design/methodology/approachThis study employs a systematic literature review (SLR) approach and thematic analysis of articles retrieved from Scopus and Web of Science databases.FindingsThe study sheds light on internal characteristics, ranging from the entrepreneurial (human capital and knowledge) to firm-specific level (business model, corporate governance, resources) and external ones related to the funding factors (financial patterns, venture capitalists, firm evaluation) and the ecosystem (entrepreneurial and technology) around the phenomenon of unicorn firms.Originality/valueThis is the first systematic literature review on unicorns that offers insights into the internal and external factors driving the emergence of such firms, contributes to shed light on the main criticalities that blur their understanding and presents a research agenda for developing this field of research.

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“…, 2021; Damasceno et al. , 2021; Frare and Beuren, 2022; Kartanaitė and Krušinskas, 2022). Except for Damasceno et al.…”

Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

See 1 more Smart Citation

Beyond myth: a systematic literature review on the emergence of unicorn firms

Giardino,

Delladio,

Baiocco

et al. 2023

JSBED

View full text Add to dashboard Cite

show abstract

“…Shetty also used comparative analysis to analyze the sources of funding and investment in different startups [10]. Moreover, Kartanaitė went to the ANOVA test to identify the financial status of different startup unicorns and the financial efficiency of different regions [11].…”

Section: Introductionmentioning

confidence: 99%

Empirical Analysis of Regions, Fund Allocation and Profits for Startups

Wang¹

2023

Advances in Economics, Business and Management Research

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This paper focuses on four indicators for different startups: R&D spending, marketing spending, administration spending, and profit. First, in the multiple linear regression of the original variables on profit, the presence of Collinearity between R&D and market spending only led to a single linear regression between R&D spending and profit. Then, factor analysis concluded two factors that resolved the Collinearity and allowed a better multiple linear regression. Moreover, the significant differences between startups with large and small profits for different spending were analyzed using comparative analysis. It concluded that different R&D and marketing spending made significant differences between startups' profit, but not for administration spending. Finally, the Normal distribution, ANOVA, and Non-parametric tests prove that there is no significant difference between different spending and profits among different regions, which shows the homogeneity of the development of different geographical startups. All these analyses can help startup entrepreneurs to generate profits better.

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“…The paper contributes to the literature on Unicorns (Cristofaro, Giannetti, and Abatecola, 2023;Kotha, Shin and Fisher 2022;Kartanaitė and Krušinskas, 2022;Aldrich and Ruef, 2018) by being the first to investigate the relationship between country-specific factors and emergence of Unicorn companies. It also contributes to the literature focusing on the influence of different factors on business activity (Grover et al, 2023;Pishchalkina, Pishchalkin, and Suloeva, 2022;Harun, Dorasamy, and Ahmad, 2022;Roche, Romero, and Sellers-Rubio, 2019) in part of analyzing the Unicorns' activity.…”

Section: Introductionmentioning

confidence: 99%

Unicorn Companies —How Does the Country's Environment Drive Its Emergence?

Ilaltdinova,

Koroleva

2023

IJTech

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Driven by innovative solutions and business models, the Unicorn companies have developed widely. Nevertheless, the existing research is fragmented and limited mainly by descriptive approaches to examing the rise of these companies. We examine the association between the country-specific factors and the emergence of Unicorn companies in certain countries. Cross-sectional linear and logistic regression models are used on the dataset of 100 countries, 51 of which have a minimum of 1 Unicorn, and the rest have not anyone. The results allow us to conclude that the probability of Unicorn emergence depends on the entrepreneurial culture, human capital, and regulatory environment of the country. In other words, entrepreneurial spirit, education, and a favorable legal environment can lead to the appearance of a Unicorn in the country. The further development and appearance of more Unicorn companies are ensured by the availability of financing and the development of IT-infrastructure. Key characteristics include the growth of venture financing and the openness of firms to new technologies in the country. The study contributes to the existing research in part of focusing on the quantitative analysis of the association between the country-specific factors and the Unicorns' activity.

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Financial Efficiency of Unicorns: Regional and Sector Related Aspects

Cited by 5 publications

References 0 publications

Beyond myth: a systematic literature review on the emergence of unicorn firms

Beyond myth: a systematic literature review on the emergence of unicorn firms

Empirical Analysis of Regions, Fund Allocation and Profits for Startups

Unicorn Companies —How Does the Country's Environment Drive Its Emergence?

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