This article compares two forms of crowdfunding: entrepreneurs solicit individuals either to pre-order the product or to advance a fixed amount of money in exchange for a share of future profits (or equity). In either case, it is assumed that “crowdfunders" enjoy “community benefits" that increase their utility. Using a unified model, it is showed that the entrepreneur prefers pre-ordering if the initial capital requirement is relatively small compared with market size and prefers profit sharing otherwise. These conclusions have implications for managerial decisions in the early development stage of firms, when the entrepreneur needs to build a community of individuals with whom he or she must interact. This study also offer extensions on the impact of quality uncertainty and information asymmetry.
This article attempts to define and measure cultural industries in Sweden. It starts with a discussion of the definition and delineation of the term "cultural industries," arguing that a large range of goods and services can be considered culture industry products and that it is important to place the production and exchange of such products in the context of an industrial systems approach. The concept is then operationalized using Swedish data on employment and the activity of firms. The results suggest that the overall growth in both employment and the number of firms has been especially strong in the cultural industries. However, the number of active firms has been growing at a much faster pace than employment in these industries, indicating a quickly changing business environment. With regard to regional dimensions, Swedish cultural industries have a strong attraction to urban areas but an even stronger propensity to agglomerate. It is suggested that the spatial dynamics observed may be key to the development of the industries' competencies and success. In summary, the article presents the results of an extensive data analysis that found that cultural industries make an important contribution to the Swedish economy and labor market. It concludes by suggesting issues that need further quantitative and qualitative study.
This paper will focus on sport, outdoor life and physical activity at the Sami festival Riddu Riđđu. I will address how sport might have been implicated in the sovereignty claims of the indigenous peoples of the Norhern Cap, the Samis. The festival is organized every year in the village Manndalen in Northern Norway. I have studied outdoor life and sport activities offered to children and youngsters at the festival; Mánáidfestivála (3-13 years) and how these activities are introduced and experienced by volunteers, participants and parents. Through fieldwork during three years I contemplated how physical activities included in the festival create the indigenous people’s identities. I found a mixture between traditional and modern activities which have origins both locally, nationally and globally, influenced by different ethnicities and indigenous groups not only activities from Samis, Kvens or Norwegians. The physical activities can be classified in three groups; 1) Traditional games, 2) Work-educating activities, and 3) Sport activities. Festivals as phenomenon have qualities which might contribute in shaping of identities. Whether physical activities are shaping identity, community, cultural understanding and how the festival might build bridges between different ethnic groups locally, nationally and globally is studied in the light of Bourdieu’s theories about habitus and symbolic capital.
A comparison of results of three statistical methods to understand the determinants of festival participants' expenditures.
|The aim of the research reported upon in this study is to examine the impact of visitors’ socio-demographic and festival experience-related variables on expenditure levels and patterns of visits to festivals. Three statistical models including logit, OLS (ordinary least square) and Tobit models are employed to identify and examine the differences or similarities in results from three different approaches. A comparison of the three approaches using cross-section survey data generated differences in model fit. In addition, it was found that the set of independent variables which were significant in estimating festival visitors’ expenditures varied between the three models. As such the findings of this study suggest a singular statistical approach may be inferior to multiple ones in gaining a full understanding of the determinants of festival participants’ expenditure.|
In order to get a constructive non-Nordic view, Tom Fleming Creative Consultancy, a UK-based leading international Creative and Knowledge Economy consultancy , has been commissioned by the Nordic Innovation Centre (NICe) , on behalf of the Nordic Council of Ministers, to develop this Green Paper. It builds on existing policy development to:Provide an overview of the current profile of the Region’s Creative Industries Introduce the current policy status of the Creative Industries Highlight key opportunities for growing the Creative Industries and maximizing the sector’s wider value Present a set of actionable policy recommendations for partners to pursue
This article addresses the influence of dominant and traditional ways of grasping the reality in social and economic processes of change. Our point of departure is how the perception of crisis in Odda, a small industrial community in Norway, influences the course of the process of change. The analysis focuses on a heated debate over the exploitation of a large site in the centre of Odda, left after the closure of the key factory. Rather than the economic and social consequences of the closure, the main challenge that arose from the crisis was related to the emergence of ambiguity in the local conceptual framework. Coming to terms with the situation stimulated various attempts to rearticulate the discourse of local development, with the result that industrial and culture-based perspectives on development came into conflict. The economic crisis became a crisis of definition. In Odda, the industrial discourse finally domesticated the competing cultural discourse, ending years of conflict and inaction. In its explicit focus on the importance of local struggles and the way discourse structures such processes this story about recent developments in Odda complements literature on post-industrial development.
A Critical Comparative Study of Visitor Motivations for Attending Music Festivals: A Case Study of Glastonbury and V Festival
|A global industry of festivals and events has evolved and developed rapidly since the early 1900s. This phenomenal growth, coupled with increased consumer awareness and choice, requires sustained development and growth in the future. Music festivals are unique events that attract audiences for a variety of reasons; however, while music-based events are an extremely popular form of entertainment, research exploring the motivations of music festival audiences is sparse, especially from a UK perspective. Crompton and McKay contend that event managers should strive to better understand the motives of festival attendance in order to design better products and services for them and because motives are a precursor of satisfaction and a factor in decision making, this in turn can lead to greater attendance. This study critically compares the visitor motivations for attending two UK-based music festivals to challenge and ultimately support existing ideas developed from similar research overseas. The article establishes some of the first research into this area within the UK and challenges common assumptions from those in industry. A range of secondary research was considered and a review of existing literature on the subject was undertaken. Although the sample size was relatively small, the results showed that socializing with friends and family was a primary motive. Most importantly, the article supported the notion that multiple motivations come into play and it suggests that it is risky for festival managers to rely solely on the theme of the event itself. It is equally important to create a fun and festive atmosphere that offers ample opportunity to socialize and have new and nonmusical experiences. Several recommendations were made for existing and future managers including focusing on realigning marketing and service strategies. Recommendations were also made for future research in terms of adopting new methodological approaches including the use of multiple means of analysis. The article finally challenges the nature of the underpinning theory and questions the reason that so much of what is understood is still based in the field of sociology in tourism, with very little underpinning theory dedicated to the events industry, despite its emergence as an academic field over a decade ago.|
This paper argues that, despite its strengths, the UK Department of Culture, Media and Sport (DCMS) classification of the creative industries contains inconsistencies which need to be addressed to make it fully fit for purpose. It presents an improved methodology which retains the strengths of the DCMS’s approach while addressing its deficiencies. We focus on creative intensity: the proportion of total employment within an industry that is engaged in creative occupations.
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