The New Strategy to The Legitimation of Informal Firms.

The Effects of The Signals and Biases on Decisions About Crowdfunding Digital Transformation

Authors

  • Jorge Heredia Management at School of Business, Universidad del Pacífico, Lima
  • Cristian Geldes Facultad de Economía y NegociosUniversidad Alberto Hurtado
  • Alejandro Flores Management at School of Business, Universidad del Pacífico, Lima
  • Walter Heredia Management at School of Business, Universidad del Pacífico, Lima

DOI:

https://doi.org/10.4067/S0718-27242020000400054

Keywords:

Digital transformation, crowdfunding platform, partner, collaborate, social finance, signaling theory, information asymmetry

Abstract

Competition between formal and informal companies has been increasingly studied. However, there is a lack of studies in the collaboration between formal and informal companies generated using crowdfunding platforms.  Based on the signaling theory and using the loans from 2019 of the Kiva crowdfunding platform. The drivers and enablers of the collaboration between formally registered firms (partners micro finances) and informal firms (unregistered firms - borrowers) in the context of the crowdfunding digital platform are studied. The results state a negative relationship between the lender's propensity to make loans and the informal firm's percentage borrowed. However, if the borrower receives a trustworthy partner (micro-finance), the borrower's negative impact decreases. Moreover, the lender's propensity to make loans lesser in projects of the tertiary sector. The study contributes to the entrepreneurship theory to understand the mechanism to legitimization the informal firm through collaboration with formal firms in the digital platforms.

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Author Biography

Cristian Geldes, Facultad de Economía y NegociosUniversidad Alberto Hurtado

Cristian Geldes tiene un PhD en Management de la Universidad Adolfo Ibañez y actualmente es Profesor Asistente de la Facultad de Economía y Negocios de la Universidad Alberto Hurtado. Sus áreas de investigación son innovación empresarial, especialmente innovaciones no tecnológicas, redes de innovación y sustentabilidad. Ha publicado en Journal of Business Research, Academia Revista Latinoamericana de Administración y otras. Además, es revisor en journales como Industrial Marketing Management, Academia, Journal of Enterprising Communities: people and places in the global economy, Innovar y African Journal of Agriculture.

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Published

2021-01-19

How to Cite

Heredia, J. ., Geldes, C., Flores, A., & Heredia, W. . (2021). The New Strategy to The Legitimation of Informal Firms. : The Effects of The Signals and Biases on Decisions About Crowdfunding Digital Transformation. Journal of Technology Management &Amp; Innovation, 15(4), 54–62. https://doi.org/10.4067/S0718-27242020000400054

Issue

Section

Research Articles