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Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions

The purpose of this study is to investigate the capabilities of Malaysian Higher Education Institutions (HEIs) in crowdfunding implementation. Crowdfunding is a technique that utilises incremental financial contributions from a 'crowd' of participants to assist entrepreneurs in funding the...

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Main Author: Siti Salwani Abdullah
Format: UMK Etheses
Language:English
Published: 2022
Online Access:http://discol.umk.edu.my/id/eprint/13191/1/SITI%20SALWANI%20BINTI%20ABDULLAH.pdf
http://discol.umk.edu.my/id/eprint/13191/
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spelling my.umk.eprints.131912023-05-14T04:09:05Z http://discol.umk.edu.my/id/eprint/13191/ Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions Siti Salwani Abdullah The purpose of this study is to investigate the capabilities of Malaysian Higher Education Institutions (HEIs) in crowdfunding implementation. Crowdfunding is a technique that utilises incremental financial contributions from a 'crowd' of participants to assist entrepreneurs in funding their projects. Although crowdfunding is a relatively new phenomenon in Malaysia, it has been welcomed as an overwhelming new form of entrepreneurial finance by the government, industry players, entrepreneurs, and implementers in Malaysian HEIs. The implementation of crowdfunding in Malaysian HEIs has been found to be a new alternative to financing which complements traditional fundraising. However, there is a gap between the implementer’s capabilities and crowdfunding implementation in HEIs. The HEIs’ implementers have not yet understood the basic catalysts of crowdfunding implementation within their current practices. This study addresses this gap to help promote an understanding within the capabilities of Malaysian HEIs to implement suitable crowdfunding mechanism which fits the nature of HEI as a non-profit organization. The study uses a retroductive approach to understand the integration of HEIs’ regularities and their implementation of the crowdfunding mechanism for student entrepreneurs. This study adopts the purposive sampling and uses multiple case studies with semi-structured interviews as the main data collection technique. This study relies on this technique to explore the views and experiences of the selected HEIs’ implementers and how they develop their capabilities to implement crowdfunding. The interviewees consist of the key informants from the HEIs’ implementers, the students, crowdfunding operators, and policy makers. Two additional data collection methods: archival, and documentary research, were utilised; thus, improving the triangulation of the findings. Finally, the study reveals the important elements that lead to the best practices of crowdfunding implementation based on the HEIs’ capabilities to help the students’ entrepreneurs gain easy access to financing. The findings highlight four elements that HEIs should consider as catalysts to crowdfunding implementation including the (i) Higher Education Institution environment, (ii) crowdfunding platform, (iii) crowdfunding activity continuum, and (iv) external environment. This study contributes to the body of knowledge of entrepreneurial finance research through its understanding of how a new alternative source of entrepreneurial finance such as crowdfunding, in the context of HEIs, can be integrated by looking through the lens of the New Capital Structure Theory. In so doing, this study seeks further into the capabilities of HEIs in implementing crowdfunding within the nature of HEIs’ environments. This study exposes the existence of a suitable model for crowdfunding that was used in other countries and was found to be useful in Malaysian implementations, particularly in the context of HEIs. By making implicit features of crowdfunding explicit through the explanation of the crowdfunding activity continuum, the model adds precision to the understanding of the crowdfunding framework for HEIs. This is shown through the consolidation of important elements in the development of the crowdfunding framework that reveals how Malaysian HEIs develop the capabilities of crowdfunding implementation which contributes by leveraging their current practices. 2022 UMK Etheses NonPeerReviewed text en http://discol.umk.edu.my/id/eprint/13191/1/SITI%20SALWANI%20BINTI%20ABDULLAH.pdf Siti Salwani Abdullah (2022) Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions. Doctoral thesis, Universiti Malaysia Kelantan. (Submitted)
institution Universiti Malaysia Kelantan
building Perpustakaan Universiti Malaysia Kelantan
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Kelantan
content_source UMK Institutional Repository
url_provider http://umkeprints.umk.edu.my/
language English
description The purpose of this study is to investigate the capabilities of Malaysian Higher Education Institutions (HEIs) in crowdfunding implementation. Crowdfunding is a technique that utilises incremental financial contributions from a 'crowd' of participants to assist entrepreneurs in funding their projects. Although crowdfunding is a relatively new phenomenon in Malaysia, it has been welcomed as an overwhelming new form of entrepreneurial finance by the government, industry players, entrepreneurs, and implementers in Malaysian HEIs. The implementation of crowdfunding in Malaysian HEIs has been found to be a new alternative to financing which complements traditional fundraising. However, there is a gap between the implementer’s capabilities and crowdfunding implementation in HEIs. The HEIs’ implementers have not yet understood the basic catalysts of crowdfunding implementation within their current practices. This study addresses this gap to help promote an understanding within the capabilities of Malaysian HEIs to implement suitable crowdfunding mechanism which fits the nature of HEI as a non-profit organization. The study uses a retroductive approach to understand the integration of HEIs’ regularities and their implementation of the crowdfunding mechanism for student entrepreneurs. This study adopts the purposive sampling and uses multiple case studies with semi-structured interviews as the main data collection technique. This study relies on this technique to explore the views and experiences of the selected HEIs’ implementers and how they develop their capabilities to implement crowdfunding. The interviewees consist of the key informants from the HEIs’ implementers, the students, crowdfunding operators, and policy makers. Two additional data collection methods: archival, and documentary research, were utilised; thus, improving the triangulation of the findings. Finally, the study reveals the important elements that lead to the best practices of crowdfunding implementation based on the HEIs’ capabilities to help the students’ entrepreneurs gain easy access to financing. The findings highlight four elements that HEIs should consider as catalysts to crowdfunding implementation including the (i) Higher Education Institution environment, (ii) crowdfunding platform, (iii) crowdfunding activity continuum, and (iv) external environment. This study contributes to the body of knowledge of entrepreneurial finance research through its understanding of how a new alternative source of entrepreneurial finance such as crowdfunding, in the context of HEIs, can be integrated by looking through the lens of the New Capital Structure Theory. In so doing, this study seeks further into the capabilities of HEIs in implementing crowdfunding within the nature of HEIs’ environments. This study exposes the existence of a suitable model for crowdfunding that was used in other countries and was found to be useful in Malaysian implementations, particularly in the context of HEIs. By making implicit features of crowdfunding explicit through the explanation of the crowdfunding activity continuum, the model adds precision to the understanding of the crowdfunding framework for HEIs. This is shown through the consolidation of important elements in the development of the crowdfunding framework that reveals how Malaysian HEIs develop the capabilities of crowdfunding implementation which contributes by leveraging their current practices.
format UMK Etheses
author Siti Salwani Abdullah
spellingShingle Siti Salwani Abdullah
Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions
author_facet Siti Salwani Abdullah
author_sort Siti Salwani Abdullah
title Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions
title_short Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions
title_full Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions
title_fullStr Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions
title_full_unstemmed Entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for Malaysian higher education institutions
title_sort entrepreneurial finance for student entrepreneurs: developing crowdfunding framework for malaysian higher education institutions
publishDate 2022
url http://discol.umk.edu.my/id/eprint/13191/1/SITI%20SALWANI%20BINTI%20ABDULLAH.pdf
http://discol.umk.edu.my/id/eprint/13191/
_version_ 1768013579600003072
score 13.211869

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