International Journal of Innovation and Entrepreneurship

This paper examines the historical development and cross-sectional heterogeneities of Financial Market Infrastructure (FMI). From an evolutionary perspective, we review and compare FMIs in the US, Europe, and China. We identify an emerging trend in which the development of FMI is transitioning from digitalization to tokenization with the rise of Distributed Ledger Technology (DLT). Digitalization reinforces centralization, while tokenization promotes decentralization, posing complex challenges to regulatory framework which is also part of FMI. We then specifically analyze DLT-based FMI in the bond market, evaluate different models of tokenization, and propose a heterogeneous consortium blockchain solution. Full article

Although bibliometric analysis is not a new issue in management and business sectors, it ought to be a common and rigorous method in contemporary literature on entrepreneurship and small business management. The current analysis demonstrates the patterns in the literature for the last ten years in the MSEs’ entrepreneurial ecosystem. Based on material published from 2013 to 2022, a bibliometric analysis was performed using the Dimensions database. The number of publications and citations, as well as the nations and organizations that have made a significant contribution to the production of publications in the field during the specified period, have all been determined through the analysis using the VOS Viewer software. The examination of 266 publications in the field revealed that the United States, the United Kingdom, and India are the top three contributors in terms of publications and citations. The analysis suggests that the subject is understudied and that there is insufficient literature. The analysis is considered crucial since it demonstrates the patterns in publications and citations in the field. Therefore, to close the gaps in the literature, it is advised that experts in the field conduct studies on the entrepreneurial ecosystem of MSEs. Full article