Financial Capital Research Articles

Analysis of the Development of Rural Aqueduct Organizations in the Central Zone of Colombia: A View from Sustainable Livelihoods

Within the framework of sustainability analysis regarding the processes developed by man, water resources in rural scenarios have been a priority due to the impact generated by population growth and climate changes in tropical regions. In Colombia, the shortage of drinking water from aqueducts has become a problem especially in rural areas, even though its administration has been set and led by local community organizations. In this sense, in this research, the aim was to understand the dynamics of sustainable livelihoods in rural areas and their relationship with water resources in Boyacá, Colombia. For this purpose, surveys were carried out in two rural aqueducts in the municipalities of Boyacá and Oicatá paying special attention to the variables that affect human, social, technical, physical, natural, and financial capital. According to the results, the water supplied by community organizations directly affects the daily activities of family units, as well as the agricultural production systems. In addition, significant relationships were identified between human and financial capital, as well as social and technical capital; however, population increment and the accentuation of dry seasons have become a threat in these regions in Colombia. In conclusion, the analysis of the work developed by the organizations of rural aqueducts allows us to understand that water plays a fundamental role in the construction of society.

Household resilience of women migrant worker sellers of Jamu Gendong

Background The selling of Jamu Gendong (an Indonesian traditional herbal medicine), is closely associated with the informal work of women who migrate to different regions. In Sukoharjo Regency and Wonogiri Regency, Central Java Province, the pressing need to meet household necessities in their places of origin compels women to assume the role of breadwinners. Therefore, this research aimed to identify the livelihood capital and resilience of migrant women selling jamu gendong. Methods The study was conducted in Ciamis Regency, West Java Province, Indonesia, in November 2022, using quantitative and qualitative methods. Primary data were collected through structured questionnaires and in-depth interviews. The sample comprised 51 women selected through snowball sampling and actively involved in selling Jamu Gendong, along with six key individuals from relevant agencies. Results The research findings indicate that the households of migrant women who sell jamu gendong can survive and adapt during their migration to prevent poverty by implementing diverse livelihood strategies. They are the only ones who move without their family members renting a place to live with them. This research has identified various capital sources, including productive age and skills in preparing jamu gendong; physical capital, including road infrastructure, markets, and access to health and education facilities; and natural, social, and financial capital. This research provides an in-depth understanding of women’s roles in family economic resilience, diversification of life strategies, the importance of social capital in migrant networks, economic empowerment through migration, and the influence of cultural values on livelihood strategies. Conclusions The findings contribute to a comprehensive understanding of the resilience demonstrated by migrant women selling jamu gendong. However, further research should be conducted in areas beyond the city center to obtain a holistic view of their resilience.

Influence of Livelihood Capitals on Landscape Service Cognition and Behavioral Intentions in Rural Heritage Sites

Farmers’ livelihoods are critical for global sustainable development and the conservation and transmission of rural heritage. However, neglecting farmers’ livelihoods increases the risks to living heritage conservation. Therefore, it is essential to explore the impact of livelihood capital on farmers’ landscape services cognition and their behavioral intentions. Based on the Sustainable Livelihoods Approach, this study examines the rural areas of Mulanbei irrigation district, which was recognized as a World Heritage Irrigation Structure in 2014, and uses a structural equation model to investigate the relationships between farmers’ livelihood capital, landscape services cognition and behavioral intentions. The study’s key findings include the following: (1) The levels of human capital (0.541), social capital (0.671), and cultural capital (0.645) are relatively high, while the levels of natural, physical, and financial capital are comparatively low. (2) There are significant differences in landscape service cognition and behavioral intentions among farmers of different livelihood strategies, with diversified livelihood farmers demonstrating the highest levels of both cognition and intentions, while subsidy-dependent farmers show the lowest levels. (3) Natural, cultural and financial capital play a crucial role in influencing farmers’ landscape services cognition and their behavioral intentions. Landscape service cognition mediates the relationship between livelihood capital and behavioral intentions. (4) To increase farmers’ willingness to protect and promote rural heritage, efforts should focus on enhancing natural, physical, and financial capital while fostering cultural capital to promote advocacy.

Research on the Relationship Between Financial Flexibility and Capital Structure Taking Chinese Listed Companies as Example

The acceleration of global economic integration has led to an increasingly uncertain external environment for Chinese enterprises, which are therefore required to master financial flexibility and capital structure. These are two of the basic elements in the corporate financial decision-making field, and their mastery will enable enterprises to survive and develop in this environment. The objective of this paper is to examine the relationship between financial flexibility and capital structure and to explore the potential applications of this relationship in the context of Chinese listed companies. A sample of Chinese listed companies across various industries, spanning the period from 2011 to 2021, has been obtained from the CSMAR database and used to conduct a series of statistical analysis. The software Stata has been employed to perform benchmark regression analysis, heterogeneity testing, and robustness testing on endogenous variables associated with capital structure and financial flexibility in order to gain insight into their respective influences. The results of the charts demonstrate a significant impact of financial flexibility on capital structure. In particular, there is a significant positive impact on debt structure, while growth opportunities have a negative impact. This paper indicates that firms should utilise their debt structures in a rational and strategic manner, and adjust their growth opportunities to enhance their competitive edge.

Knowledge access and satisfaction of pregnant women on the use of the National Health Insurance Scheme in accessing health care in the Bia East District of Ghana

IntroductionIn Ghana, access to health care is impeded mostly by financial capital. The National Health Insurance (NHIS) rolled out in 2003 was an attempt to remove cost as a barrier and help bridge this gap in health access. Despite the benefits, enrolment and use have been low. Hence a need to assess the knowledge, access and satisfaction of pregnant women on the use of NHIS to access healthcare.Materials and methodsThe study employed a facility-based descriptive cross-sectional study. A structured questionnaire was used to collect data from a total of 387 pregnant women using a simple random sampling technique. Data was collected to gain an insight into the knowledge, accessibility and satisfaction level of pregnant women on the usage of NHIS. Data was analyzed using Stata version 17.0 and results were presented in frequency tables.ResultsOverall, most of the pregnant women had a good knowledge of 228 (67.5%) and a high accessibility of 279 (82.5%) to using NHIS use it in accessing healthcare. Whilst for satisfaction, 311 (92.01%) said they were satisfied with the services and would prefer the use of NHIS to out-of-pocket payment.ConclusionIn the current study the level of knowledge, accessibility, and satisfaction of NHIS is high. However, to sustain this gain, a multidimensional approach to community education should be intensified.

Economic Dynamics of Financial Capitalism: Labour Market Reforms, Welfare State Reduction, and the Impact of Technological Changes

Economic Dynamics of Financial Capitalism: Labour Market Reforms, Welfare State Reduction, and the Impact of Technological Changes

Examining the Role of Local Government’s Financial Performance and Capital Expenditure in Increasing Economic Growth in Banten Province, Indonesia (2018–2022)

This study aims to analyse how financial ratios such as the independence ratio, effectiveness ratio, efficiency ratio, fiscal decentralisation ratio, dependency ratio, and compatibility ratio affect economic growth, directly or indirectly, through capital expenditure as a mediating factor. This research used a quantitative approach; purposive sampling was conducted, and path analysis was applied to explore the relationships between variables. The results show that self-reliance, effectiveness, efficiency, fiscal decentralisation, dependency, and capital expenditure significantly affect economic growth. The independence and effectiveness ratios have a positive impact, indicating that improvements in these variables directly foster economic growth. However, the efficiency and fiscal decentralisation ratios have a negative effect, suggesting that increases in these variables may reduce economic growth. Indirectly, through capital expenditure, the independence, effectiveness, dependency, and compatibility ratios significantly affect economic growth, with the independence ratio being the most dominant. Conversely, the fiscal decentralisation and efficiency ratios did not show significant indirect effects, indicating that capital expenditure is not an effective mediator for these variables. These findings provide insights into how local financial management strategies can influence regional development, offering key policy recommendations for Banten’s local government.

Characteristics of financial capital flow circulation and the risk transmission effect in China

Financial capital is an important force driving China's economic modernisation. Examining the characteristics of financial capital flow circulation across sectors and risk transmission laws is crucial in guiding financial market operations and deepening financial system reforms. This study establishes a 2011–2020 China matrix that includes capital fund flow statements for non-financial corporations, financial institutions, the general government, households, and foreign sources and examines changes in capital flow circulation by developing a financial flow multiplier system model to measure the direct and indirect transmission effects of capital flows between sectors from the perspective of liabilities. Results show that China's overall scale of financial capital flows has increased, but fluctuations have emerged in the last decade. The sectors' financing structure has changed significantly, with financial institutions remaining the primary capital inflow and outflow sectors of the financial market; however, the proportion of liability and investment in the household sector has increased, resulting in increased risk transmission. Moreover, the sectoral fund surpluses and shortages are highly volatile and uncertain, with non-financial enterprises serving as the primary drivers of real-economy investment. The capital flow from financial services to the real economy shows a fluctuating growth trend, primarily flowing to non-financial corporations; however, the proportion exhibits a downwards trend. Finally, we find that the flow transmission relationship between different sectors and financial transactions in the financial market is complex, with both direct and indirect risk transmission effects between sectors. Changes of financial institutions' liabilities significantly affect the liabilities and investments of other sectors.

Systemic entrepreneurship in the digital era: Tesla's vision and social transformation

This paper investigates the phenomenon of systemic entrepreneurship in the digital age, using Tesla, Inc., and its leader Elon Musk as a case study. Systemic entrepreneurship is explored as a multifaceted concept that extends beyond traditional business management, encompassing the integration of digital technologies and the capacity to instigate significant social change. The study reveals that systemic entrepreneurship involves a strategic amalgamation of financial, social, and human capital, utilized effectively to drive transformative shifts in societal norms and practices. Elon Musk's role as a systemic entrepreneur is dissected, highlighting his unique capabilities in networking, resource utilization, and social influence. His leadership in introducing disruptive innovations and altering market landscapes exemplifies the profound impact of systemic entrepreneurship on societal evolution. This study not only enriches academic understanding of systemic entrepreneurship in the context of digital transformation but also highlights its critical importance in driving sustainable and progressive societal transformations thanks to technology.

The Impact of Government Data Accessibility on Cross-Regional Venture Capital Investments

This study examines the association between government data accessibility and venture capital (VC)'s cross-regional investments. Exploiting the staggered establishment of government data open platforms (GDOPs) across different cities in China as a positive shock to government data accessibility, we find that this policy significantly increases cross-regional VC investments in treatment cities relative to others. Furthermore, the positive impact is achieved through the reduction of information asymmetry, as the establishment of GDOPs attracts VC investments from greater geographical distances. Additionally, we find a more pronounced positive effect of GDOPs on promoting cross-regional VC investments in regions with higher terrain ruggedness and lower fiscal transparency. Overall, this study demonstrates that the government's informatization and transparency initiatives can positively influence financial markets by enhancing the cross-regional flow of financial capital.

Difference between Global South cities: Mexico City, Freetown and the global division of urban informal labour

This work pursues a new explanatory framework for understanding some of the variance and homogeneity of informal work between cities in the Global South. Rooted in a materialist approach to informality, it seeks to explain the dynamics of informal work in different urban contexts via a novel application of the global division of labour, termed the global division of urban informal labour. Through a comparative analysis of the urban labour regimes of Freetown, Sierra Leone, and Mexico City, Mexico, the work argues that each city’s respective location within the global capitalist system largely determines the nature of their informal economies. It posits that a city’s informal labour regime is shaped by whether a city’s economy is predominantly defined by financial, industrial or extractive capital, and explores the ramifications of the financialised economy of Mexico City and the extractivist economy of Freetown for shaping informal work in each city. Such an approach attempts not only to explain urban and labour regime variance but also to highlight the essential and foundational nature of informal work in global capitalism today. It also seeks to aid in the task of recentring capitalism and class considerations into understandings of the internal and external dynamics of Global South cities in general.

Sustainable land management and implications on incomes, food self-sufficiency and women

The adoption of Sustainable Land Management (SLM) practices among smallholder farmers remains low, particularly among women farmers. Understanding the relationship between assets, gender, and SLM adoption and how their interaction impinges on household food self-sufficiency and livelihoods is essential for developing gender-responsive SLM programmes that effectively promote sustainable livelihoods and address household food insecurity. This study examines the effects of asset type on SLM practices adoption, women farmers, and their implications on household incomes and food self-sufficiency. Data was collected through a cross-sectional survey of 761 households selected from 11 chiefdoms across six districts in Eastern Zambia. Analysis involved Structural Equation System framework and Propensity Score Matching techniques to examine relationships between SLM adoption, food self-sufficiency, and household incomes, considering various socio-economic factors. Results showed marital status and household size as significant demographics, with education positively correlating with household income and SLM participation (p < 0.05). Gender disparities persisted, with male-headed households having higher incomes. Labour allocation analysis revealed women’s involvement in labour-intensive tasks, while smaller farms showed higher income probabilities, supporting sustainable agricultural intensification. Social capital significantly influenced SLM participation, and access to financial capital. Livestock assets, land size, and crop diversity predicted food security, while male decision-making influenced food security and income. Incomes were higher for women participating in SLM projects. This study underscores the importance of SLM practices in influencing household incomes and food security, especially for women. Addressing gender disparities and promoting women’s empowerment in agriculture are crucial for achieving equitable and sustainable rural development. Policymakers can foster sustainable livelihoods in rural communities by prioritizing SLM and empowering women.

Financial Surplus and Capital Structure Dynamics: Evidence from Indian Firms

Financial Surplus and Capital Structure Dynamics: Evidence from Indian Firms

Factors Affecting the Adoption of Crowdfunding as a Source of Funding Among SMEs in Colombo Region in Sri Lanka

Small and medium enterprises (SMEs) are regarded as the backbone of economies, whether it is just for a single state or country or if considered for the globe as a whole. There are many challenges that SMEs face one of which is the financial aspect such as insufficient access to financial resources and investment capital can be a significant barrier to the growth of these SMEs. There is a suitable new way funding for this problem that is emerging in the modern world known as crowd-funding. This method mostly involves using the internet to collect money in small and medium amounts from several individuals thereby collecting the needed capital. Therefore, this study focuses on the factors affecting adoption of crowdfunding as a source of funding among SMEs in Colombo region.

Dispossessed exposures. Housing and regimes of the visible

Literatures and organising show us how, in contemporary racial financial capitalism, housing is formed through dispossessive histories and geographies. Here, we query how these enter into play in the visual regimes through which housing is seen and experienced. For if the visual realm is as much a construct as any other housing matter, finding a grammar to tap into its workings might become handy when its violent outcomes come to the fore. What is reproduced in the visual regimes of housing? What is offered and taken anyway? What might never be seen, and by whom? The article offers a tentative analytical approach to questioning what we call dispossessed exposures: the (en)visioning of homely futures that are deprived, already in the social construct of seeing with the house, the possibility of radical care for and of habitation. These ideas are unpacked through reflection on two films: Ladj Ly’s Les Misérables and Fanny Liatard and Jérémy Trouihl’s Gagarine. We offer these reasonings as a contribution to ongoing conversations in the renewed field of housing justice scholarship.

СЛОВЕНСКАЯ «ДОРОЖНАЯ АФЕРА» 1969 Г. (ИЗ ИСТОРИИ БОРЬБЫ ЮГОСЛАВСКИХ РЕСПУБЛИК ЗА ИНВЕСТИЦИИ)

The Slovenian «road scam» is an acute conflict between the leadership of Slovenia and the Yugoslav federation over the distribution of foreign loans. It was provoked by the pressure of world financial capital on the Yugoslav government. Favorable internal conditions have developed for the crisis. In Slovenia, the team of S. Kavchich was in power, it advocated the creation of a national republican economy. For many years, the Slovenian press criticized the union center and supported the public opinion that all other republics lived at the expense of Slovenia. In 1969, these factors caused a campaign of pressure on the federal government, which was openly led by the leaders of the republic. Such a massive and public uprising against Belgrade had no precedent in the history of the Yugoslav federation. The crisis was overcome thanks to pressure from the country’s top party leadership, but did not lead to any systemic changes. The Slovenian leadership formally submitted and admitted that they were wrong. The “road scam” showed that the economic reforms of the 1960s, designed to eliminate the basis for conflicts between the republics and the federation, did not lead to the desired goal.

The New Finance Capital: Modern Vampires of the City?

The New Finance Capital: Modern Vampires of the City?

금융자본주의 사회의 자본, 프레카리아트의 영화적 재현 연구

Film reflects society and society reflects film. Over the course of 130 years of film history, we have witnessed the evolution of media culture from film to digital to OTT platforms, which have generated extensive discourse in film theory. Despite these significant changes, the essence of film remains unchanged: it is closely intertwined with society, serving as an art form readily accessible to the public. Film actively examines and meticulously represents society on screen, possessing a unique ability to embody imaginary and virtual worlds, while also striving to represent our real world and explore its hidden facets. Recently, there has been a surge in films exploring the economy. However, academic research on these films has been somewhat limited due to the inherent complexity of the subject matter. This paper aims to analyze “Helpless” and “Sorry, we Missed You” with grave concern. These films tackle the issue of ‘financial capitalism and the precariat’, exerting a significant influence on the structure and phenomena of contemporary society. This research delved into the lives of the precariat suffering from debt and rhetorics, which are cunning devices created by financial capitalism. Lastly, this paper proposes that these films can be categorized as “social problem films” that raise awareness about societal issues and spark changes in society. Through this study, this paper aims to demonstrate the profound connection between film(as a cultural medium) and society, thereby affirming the impact of film on society.

Commercial Soyabean Farming and Household Livelihoods in Kole District northern Uganda, a critical analysis of Farmers Cooperative Society

This paper presents the relationship between commercial soyabean farming and household livelihoods of members of Alito Joint Christian Farmers’ Cooperative Society Limited (AJCFSL) in Kole district, Uganda. We used mixed method approach and generated quantitative and qualitative data from registered members of AJCFSL. We sampled 155 respondents out of 259 using simple random technique and purposive sampling techniques and collected data using questionnaires and interview guide. The findings reveal that the number of acres cultivated by soyabean farmers (p<0.01, β= 0.637) is significant in predicting household food security, income, provision of basic needs and responding to emergencies. However, owning storage facilities by farming households is least significant in explaining the contribution of soyabean farming to household livelihood elements (p<0.01, β= 0.216). The study concludes that planting soya bean on more acres strongly enhance family stability. The study recommends the introduction of easy means of acquiring land titles by farmers; and the introduction of subsidized tractor-hire services to boost production of soya bean and achieve a stable family environment. Further research can be considered with a view of analyzing the relationship between commercial soya bean farming and the financial, human, and physical capitals of farmers in Kole district

Life course financial mobility and later-life memory function and decline by gender, and race and ethnicity: an intersectional analysis of the US KHANDLE and STAR cohort studies

Intersectionality has rarely been considered in research studies of cognitive ageing. We investigated whether life-course financial mobility is differentially associated with later-life memory function and decline across intersectional identities defined by gender, and race and ethnicity. Data were from two harmonised multiethnic cohorts (the Kaiser Healthy Aging and Diverse Life Experiences cohort and the Study of Healthy Aging in African Americans cohort) in northern California, USA (n=2340). Life-course financial mobility, measured using a combination of self-reported financial capital measures in childhood (from birth to age 16years) and later adulthood (at the cohort baseline) was defined as consistently high, upwardly mobile, downwardly mobile, or consistently low. We clustered individuals into 32strata representing intersectional identities defined by life-course financial mobility combined with gender, and race and ethnicity. Verbal episodic memory was assessed using the Spanish and English Neuropsychological Assessment Scales over four waves from 2017to 2023. Adjusted mixed-effects linear regression models were estimated with and without fixed effects of gender, race and ethnicity, and financial mobility, to evaluate whether the random effects of the intersectional identity strata contributed variance to memory beyond individual fixed effects. Mean age was 73·6years (SD 8·1). Of 2340individuals, 1460 (62·4%) were women, 880 (37·6%) were men, 388 (16·6%) were Asian, 1136 (48·5%) were Black, 334 (14·3%) were Latinx, and 482 (20·6%) were White. Consistently low and downwardly mobile financial capital were strongly negatively associated with later-life memory at baseline (-0·162SD units [95% CI -0·273to -0·051] for consistently low and -0·171 [-0·250to -0·092] for downwardly mobile), but not rate of change over time. Intersectional identities contributed 0·2% of memory variance after accounting for the fixed effects of gender, race and ethnicity, and financial mobility. Consistently low and downward life-course financial mobility are associated with lower later-life memory function. Intersectional identities defined by financial mobility in addition to gender, and race and ethnicity, contribute negligible additional variance to later-life memory in this study setting. US National Institute on Aging, US National Institutes of Health.