Financial Power Research Articles

Using Real-World Data to Explore the Impact of One-Time Financial Grants Among Young Adult Cancer Survivors.

Young adult (YA) cancer survivors experience worse financial outcomes than older survivors. This analysis used data from Expect Miracles Foundation to explore the impact of one-time financial grants on financial well-being and access to health care. Among 300 respondents, the average grant was $1526 (standard deviation = $587; range $300-$3000). Respondents reported improved ability to pay expenses (t = 4.45, p < 0.001), increased financial decision-making power (t = 2.79, p = 0.06), decreased medical debt impact (t = 2.1, p = 0.04), improved transportation access (t = 2.38, p = 0.02), and fewer challenges in accessing care (t = 3.0, p = 0.005) 6 months after receiving a financial grant. Financial assistance offers YAs an opportunity to meet medical and nonmedical expenses.

Continuity and Complexity: A Study of Patronage Politics in State-owned Enterprises in Post-authoritarian Indonesia

ABSTRACT This study explores the role of patronage in Indonesian State-Owned Enterprises (SOEs) by analyzing board appointments between 2004 and 2019 under two different presidential administrations—those of Susilo Bambang Yudhoyono and Joko Widodo. The study is based on a content analysis of board members and their political affiliations in fifteen of the largest Indonesian SOEs and in-depth, semi-structured interviews with a former minister, high-ranking officials in the government, political party members, CEOs, and SOE board members. The study identifies how key patrons influence board appointments and how the sitting president, a pivotal patron in the post-authoritarian context, strategically uses patronage for power consolidation and political stability. Given the financial significance and power of SOEs, placing loyalists on boards serves the interests of ruling political parties and elites. This also enables elites to produce even more patronage, which is beneficial for their personal political machinery. This intricate interplay sustains the presence of patronage in Indonesia’s democratic landscape.

Male involvement in birth preparedness through health Facility community dialogue in kajiado county- Kenya

Birth preparedness enables families to prepare for pregnancy thus increasing the uptake of antenatal care, skilled birthing, and postnatal care, enhancing readiness to handle pregnancy complications and first delays experienced in seeking obstetric care. Male partners influence maternal health outcomes due to their financial power and cultural endowment. Health facility community dialogue through maternity open days provides a platform for pregnant mothers, and their families/ community to interact with health care providers, visit maternity units, demystify birthing practices, and mitigate any fears/misconceptions/ myths about the birthing process thus empowering them on their reproductive health rights. Kenya has limited data on male involvement in birth preparedness through health facility community dialogue/maternity open days. The study objectives were to explore health system factors and nomadic cultural community factors that influence male involvement in birth preparedness through health facility community dialogue. Data was collected through structured guided interviews for focused group discussions on eighteen participants and two community health volunteers as key information informants. Health system factors that influence birth preparedness were; infrastructure: space, confidentiality, privacy, adequacy of beds/beddings, cleanliness, hot beverage/showers after birth, waiting time, and health care provider attitude. Nomadic cultural community factors were value-belief. The study showed the above factors hindered male involvement in birth preparedness.The county government of Kajiado to come up with health facility community dialogue forums on birth preparedness through open maternity days by having an annual budget.

Drivers for People’s Affairs

Each individual is interested in selling and buying products to ensure a prosperous social, professional, and emotional life for themselves and their dear ones. Selling their goods or services gives them the financial power to purchase other necessary articles or services for continuous improvement in their life quality, as no one can possess or produce everything.

Yours, mine, and ours: gender, intra-household dynamics, and financing solar home systems in Tanzania

The financing of off-grid solar is a crucial component for the expansion of electricity access, particularly across sub-Saharan Africa. Emerging literature in energy access research analyzes the role of gender and inequalities in access and subsequent outcomes; however, beyond gendered outcomes, the field has yet to interrogate the intra-household dynamics of obtaining access. The literatures of the intra-household dynamics of budgeting and energy access have remained distinct. Bridging these literatures, we present the first analysis of if and how intra-household dynamics relate to how individuals obtain energy access through our specific case of financing solar home systems (SHSs). Drawing on 113 interviews across four districts in Tanzania, we employ qualitative thematic analysis and quantitative generalized linear model-based prevalence ratio estimates. We find five categories of how SHS adopters describe gender and intra-household dynamics relating to the financing of their SHS. We find it inappropriate to treat the household as a single entity as in half our sample, women are either solely or jointly responsible for financing the SHS. Female headed households have a higher prevalence of relying on debt to finance their SHS, while households with female financial decision-making power have a higher prevalence of relying on savings. The unitary model of a household limits the sector’s ability to efficiently support multi-adult households as they navigate individual needs and preferences in the financing and ultimate acquisition of the SHS. Researchers, policy makers, and the private sector could further acknowledge and explore intra-household dynamics and consider shifting the focus away from debt-based financing towards energy-dedicated savings accounts for female customers and improving borrowing conditions for female headed households.

DOMINASI PERAN WALI NAGARI DALAM PENDIRIAN BADAN USAHA MILIK NAGARI (BUMNAGARI)

This study aims to analyze the role of the nagari guardian in the establishment of BUMNagari. By using the situational theory of Hersey and Blanchard as well as with descriptive qualitative methods, it was found that the nagari guardian has a dominant role (directive) in the establishment of BUMNagari with high direction. The high direction of the nagari guardian can be seen from the initiative to establish BUMNagari, determining the business of BUMNagari, and the amount of capital participation in BUMNagari. The role of the nagari guardian is so dominant because the establishment of BUMNagari is the desire of the Wali Nagari and not based on the wishes of the community, the determination of BUMNagari's business is also based on the wishes of the nagari guardian not based on the economic business potential of the nagari, and the determination of the amount of capital participation in BUMNagari is also the decision of the nagari guardian as the holder of financial power in the nagari not based on the results of the business analysis study.

The influence of crises on the financial position of multinationals in emerging markets

ABSTRACT This investigation is one of the first to analyse the relationships between leverage and bankruptcy costs, interest expenses, tax benefits and firm value, in multinational and domestic companies, during periods of crisis and financial stability. The analysed data are related to the Organisation for Economic Co-operation and Development’s (OECD) most important emerging markets (Brazil, China, India, Indonesia, and South Africa) based on a sample of 15,632 observations from public companies for the period 2004–2019 (including the 2008 crisis). The results suggest that multinational companies incur lower bankruptcy costs than domestic ones. Meanwhile, they also become more valuable. Another difference relates to multinationals’ ability to raise their leverage levels, even in times of crises, in contrast to domestic companies. Multinational companies also exhibit higher financial negotiation power and may obtain lower interest rates than domestic companies. These findings contribute to the understanding of the financial dynamics demonstrated by multinationals and domestic companies in emerging economies during periods of crisis and stability.

Outer Space Commercial Mining: Ownership Rights and Contemporary Legal Issues

Prior to the beginning of the Cold War, exploration of outer space by explorers was majorly for scientific discoveries of new planets. But as time went by, governments and private entities began to explore further for natural resources that could be beneficial to the existence of man on earth. Such minerals that could be found in asteroids include iron, iridium, nickel, magnesium, gold, platinum, and palladium, among others. Although every nation of the world is believed to have equal right to outer space and the resources discovered therein, the commercialisation of space mining activities have seemingly restricted the control of these resources to world leading governments such as, the United State, China, Russia, Japan, France and some private enterprises who have the financial power for such activities. The goal of the article was to examine commercialisation, property rights and contemporary legal issues concerning outer space mining. Can private or non-governmental entities operate in the outer space without governmental authorisation and continuing supervision? How best could ensuing space mining disputes and environmental concerns be addressed? Doctrinal research method was adopted for this study to discuss fundamental issues and resolve questions raised by the article. This entailed the examination of available literature in the area plus existing international and domestic laws regulating outer space mining activities in order to give in-depth analysis of the subject matter and to support the position reached in the article. In concluding the article, the authors proffered some suggestions on the identified contemporary issues.

Editorial

This editorial reviews how art as primary evidence can persuade those in other fields outside of applied arts of its profound influence psychologically, culturally, socially and politically. Examples are presented of how art’s inherent value and effect towards instilling deeper meaning, well-being and healthier ways of living, has influenced those who we might conceive of as holding financial power to open doors for funding and accessibility. And yet even after almost eighty years of applied arts and health in institutions across sectors, there are still those who feel that if we do not utilize the language and protocols of science, social science and medicine, then there will be no direct way towards securing funding. This long-standing debate is discussed here with illustrations that challenge this ongoing mythology. It is further emphasized that the samples presented here are the very reason that this journal was established in the first place.

한·영·일 주민자치회 제도의 비교에 관한 연구

In this paper, we analyzed the development process of the resident association system in Korea and tried to derive strategic implications for the resident association system in Korea by comparing the resident association system in the United Kingdom and Japan, which are developed countries for resident autonomy. In Chapter 2, the current status and progress of the residents' associations were analyzed through “Introduction of the resident autonomy center and resident autonomy committee under the Kim Dae-jung administration”, “Introduction of the resident autonomy association under the Lee Myung-bak administration”, and “Pilot implementation of the resident autonomy association according to the standard ordinance of the Ministry of Public Administration and Security”. In Chapter 3, the difference was analyzed by comparing the Parish of England, Ichikai in Japan, and Korea's Residents' Autonomous Association. In Chapter 4, the implications of Korea's residents' autonomous association were drawn through the comparison of the Korean and residents' autonomous association systems of the England and Japan. From advanced cases such as the England and Japan, the strategic implication of Korea's residents' autonomous association is that, first, in terms of the installation unit of the residents' autonomous association, it is necessary to reorganize the residents' autonomous association by reducing the unit of eup, myeon, or dong, or to introduce a resident's autonomous association in the unit of tonri or apartment. Second, in terms of the institutional composition of residents' autonomous associations, it is necessary to recognize the status of quasi-governmental organizations as local divisions of residents' autonomous associations in eup, myeon, and dong. In addition, the legislative right, organizational right, office handling right, financial right, etc. stipulated by the ordinance should be gradually transferred to the residents' association. Third, in terms of the functions and affairs of the Residents' Autonomy Council, it is necessary to expand the subject of residents' autonomy by separately regulating the autonomous affairs through the revision of the Decentralization Act, etc. Fourth, in terms of financial resources for residents' autonomous associations, it is necessary to secure independent financial resources such as membership fees, public facility usage fees, and rental income. Lastly, in terms of residents' autonomy councils (associations), in order to vitalize the operation of city, county and district residents' autonomy councils, it is necessary to strengthen the capacity of management and strengthen financial power through membership fees and financial support from local governments.

Capitalism divided? London, financialisation and the UK’s spatially unbalanced economy

ABSTRACT The UK economy is one of the most geographically unequal among OECD countries, with London's lead having increased since the mid-1980s. The UK is also one of the most centralised, in terms of the overwhelming concentration of economic, financial, political and institutional power in the capital, London. A key question, therefore, is whether the latter feature is a cause of the former. This paper focuses on one aspect of this question, namely London's dominating role in the UK's financialised, neoliberal-globalised growth model that has held sway for the past forty years. It is often argued that London's pre-eminence in finance acts as an engine of national growth, delivering benefits to all regions through ‘trickle down' effects. We argue that these claims are exaggerated and that much more need to be known about London's negative impacts on other regions and cities, about the geographical dimensions of what some have labelled the ‘finance curse'. We argue that such negative effects are integral to the growth of regional inequality in the UK. The Government's new ‘Levelling Up’ policy, though innovative in some respects, remains subordinate to the promotion of London and finance, and is unlikely to decentre and spatially rebalance the economy.

Risk Based Capital Factors’ Impact for Reinsurance’s Business and Profitability

Reinsurance is one of important aspect from insurance business. To ruin their business, insurnaces don’t only rely on their capacity, but to their back up capacity behind them. For arising financial strength and intercalation to Indonesia’s GDP, OJK as regulatory has obligatory for insurance to ceded their insurance cession to domestic Reinsurance. Insurance business would be always linked with reinsurace due to their requirements for spreading risk (by reduce the variability of the financial costs to insurance companies arising from the claims). The prior researches give indicator that financial strenght will affect how sevice company ruin their business and profitability making. This paper aim to empirically inquire intercouse between financial strength of the company with their running business. Financial strenght for reinsurance business is the most important component due to their business characteristic, business to business. RBC as one of the parameter will be the one which impose the insurance company to lay their business. So with RBC’s component we could inquire how reinsurance’s business and profitability. This study used quantitative research method. The analysis framework is based on relationship between risk based capital’ factor in reinsurance with their business and profitability effectivity. Data will be provided secunderly by companies annual report with total 5 local reinsurance in Indonesia. And will be examined by regression model. The finding will indicate how Risk Based Capital’s factor involve business and profitability both for reinsurance company. The findings may help industry to better understand how financial power’ factor work for profitability.

CORPORATE MANAGEMENT OF ELECTRICITY COMPANIES: PROBLEMS AND PERSPECTIVES

The utilities are distinguished by significant material and financial power, exceptional market power, the realization of large revenues, employing several thousands of workers, whose results represent a significant part of the GDP. The utilities are of great economic forces, they represent an economic synthesis between management, labor and capital, giving an identity to the company in a given socio-economic environment. The particularities of a corporate-type company come from different missions that give it an identity, but also from the pluralism of interests of different stakeholders – interested parties. The basic requirement for a modern corporation is to create wealth for the key interest groups, i.e. stakeholders, in the way that suppliers of financial inputs ensure returns on their investment. Therefore, good management of the utilities is of crucial importance for realizing their positive contribution to economic efficiency and competitiveness.Corporate management is the process of managing, directing and supervising the operations of an utility, in order to create value for shareholders, assess investment risk and the expected rate of return on investments, as well as supervise capital investments, and at the same time protect the interests of other stakeholders. Corporate management is a monitoring mechanism for evaluating corporate responsibility and reliability through: boards of directors, supervisory board, audit committees, management and auditors. Corporate management would not be necessary if management acted in the best interest of shareholders and if corporate guardians: boards of directors, legal advisors and certified public accountants, efficiently performed their entrusted tasks and professional responsibilities. Therefore, the corporate management structure promotes the trust of the company by increasing the transparency of the financial reporting process, based on the corporate management standards adopted by the Organization for economic cooperation and development (OECD).

Extrinsic Motivation toward Entrepreneurs’ Intention to Adopt Crowdfunding: The Case of Kiva Lending Crowdfunding

The adoption of crowdfunding among entrepreneurs has increased recently, and several factors are believed to contribute to this increase. Surprisingly, extrinsic motivating factors' effect on this increased crowdfunding adoption trend is inadequately addressed. The study investigates the effect of extrinsic motivators on entrepreneurs' intention to adopt crowdfunding in Tanzania. It applies Partial Least Squares-based Structural Equation Modelling to examine the effect of the need for achievement, social networking, and the desire for financial power on entrepreneurs' intention to adopt crowdfunding. Using a sample of 241 entrepreneurs operating in Tanzania, the results indicate that the need for achievement and the desire for financial power influence entrepreneurs' crowdfunding intention. We observe no effect of the need for social networking on entrepreneurs' crowdfunding intention. These results imply that an entrepreneur's intention to borrow through a crowdfunding platform aligns more with the need for achievement and the desire for financial power rather than the need for social networking.

The War in Ukraine and the End of the American Financial Order?

The crises of 1997–98, 2008, and the pandemic accelerated contradictory changes in global financial governance. Taken together, the change and stasis propelled by these crises is coalescing around a fragmented “post-American financial order.” The war in Ukraine represents another inflection point. The war has facilitated the reassertion of American financial power and cooperation among rich nations. However, like previous crises, the war is creating fissures in financial governance. The landscape offers risks and opportunities against a backdrop of heightened financial fragilities, authoritarianism and fascism, inequalities, devastation associated with the pandemic and war, and climate crisis. In such moments, Hirschman’s “possibilism” is both elusive and necessary. In this context, we might aspire to “permissive multilateralism s” rather than nostalgia for a new Bretton Woods. JEL Classification: F02, F51

Just a Sport or a Moral Obligation? Football between pressures of politics, financial power and progress from Mussolini to Qatar

The mantra of the sportsmen, sportswomen and politicians is that “sport and politics should not mix”. In practice, it is impossible to separate sport from political, national and economic connections, or from anything that has to do with society. Disagreements over how to define what is ”political” demonstrate this. Today, we consider it appropriate, right, and in congruence with human values that football teams take the knee in support of the Black Lives Matter -campaign, or that the captains of the national teams are entitled to wear rainbow armbands, and we don’t consider this “political”, but a human rights issue. At the same time, authoritarian regimes have made the greatest sporting events – the Olympic Games and World Cup in football – objects of their interest, in the footsteps of Mussolini, Hitler and the leaders of the Soviet Union. The gigantically rich sheikhs and oligarchs have purchased traditional, world-famous football clubs, and the human rights situation of the migrant workers and migrants in Qatar was a highly controversial issue before the latest World Cup. Russia and Belarus were expelled from most international sport events after the Russian attack against Ukraine. This paper deals with the history of political controversies in sports and is a part of the debate on politics in sport and economic influence on sport. It argues that the authoritarian and economic grip on sport has increased to worrying levels, but there are signs of positive development as well.

Fiscal Decentralization, Environmental Regulation and High-Quality Economic Development

Fiscal decentralization, as a policy with which to regulate the financial power relationships between central and local governments, undoubtedly has an impact on high-quality economic development, and in the current context of focusing on environmental quality its path may include environmental regulation, which is restricted by the degree of decentralization and directly affects high-quality economic development. Based on data from 30 Chinese provinces from 2010 to 2019, this paper empirically tests the moderating effect of environmental regulation on the relationship between fiscal decentralization and high-quality economic development through the use of an intermediary-effect model, a threshold model, and a quantile regression model. The following are the main conclusions: First, fiscal decentralization encourages high-quality economic development with a coefficient of 0.069, but environmental regulation dampens this effect, with a coefficient value of 0.0055 for the suppression effect; after removing endogenous effects, the conclusion remains valid. Second, the influence of fiscal decentralization has different manifestations under different environmental regulation intensities and different levels of high-quality economic development: fiscal decentralization has a larger regression coefficient when the intensity of environmental regulation exceeds 0.0108; it only shows a positive effect in regions with a higher quality of economic development (after the 25% quantile). The main contribution of this paper is the discussion of the impact of fiscal decentralization on high-quality economic development from the perspective of environmental regulation and revealing of a new path for fiscal decentralization to play its role, which is of certain significance in exploring the appropriate degree of decentralization and formulating environmental regulation policies.

Compounding financial frontiers: capital seeds and seeds for capital

ABSTRACT More than fifty years of civil war has left about eight million internally displaced people in Colombia, with millions struggling to make a living in new precarious urban spaces. Illicit narcoparamilitary groups, also emergent from the conflict, have dispossessed millions from their land and become vital moneylenders that enable displaced people to work and subsist in cities while profiting from them. Using the metaphor of compounding, I suggest thinking of financial frontiers as consecutive processes of expansive economic growth where one asset or principal (land dispossession and rural displacement in the Colombian case) originates exponential profits over time, benefiting narcoparamilitary groups. Such exponential gain happens gradually in circular financial transactions. Each transaction produces extra profits and opens possibilities for new financial transactions that further extract value from displacement and land dispossession. This approach helps us understand the social relations that permit capital accumulation over long periods, across geographic spaces, through political changes, and through economic shifts that determine the development of novel forms of financial power in Colombia and beyond. This article proposes a concept of compounding financial frontiers to grasp how new spaces for financial value extraction emerge and how capitalism finds the conditions for its reproduction.

Income sources, intrahousehold allocation and individual poverty

Policies aimed at redistributing to the most vulnerable individuals must consider inequality within households as much as between households. In that spirit, many cash transfers are targeted at women rather than men. Tax legislations can also contain specific gender provisions that treat men and women differently. Whether these policies operate some intrahousehold redistribution, or are defeated by the household agency problem, is an open question. This paper provides new insights by adapting models of intrahousehold allocation to account for women's and men's net‐of‐tax earnings and targeted benefits as determinants of the household resource sharing function. We suggest applications using household expenditure data for Argentina and South Africa. Net‐of‐tax earnings and benefits commanded by women are often positively related to their and their children's resources. We provide counterfactual simulations to illustrate how women's financial power – and its sources – may modify their consumption share and thus their individual poverty status.

Types of Geoeconomic Power and Competition over Myanmar Before and During the Reform Era of the 2010s

Over the past decade, the United States, China, and Japan contested for influence in Myanmar, as the country began to emerge from decades of isolation and military rule. Despite the rich descriptions of rivalries between the United States and China, as well as Japan and China, the nature of geoeconomic power competition in Myanmar remains underarticulated. Popular accounts often use a magnitude-based concept of power to track how much power countries have gained or lost over Myanmar. However, the types of power may be equally important, particularly for understanding the geoeconomic dynamics in play. This article thus examines the geoeconomic power competition in Myanmar using a typology of interstate economic power relations. This typology expands the conventional framework centered on geographic distance to incorporate other types of geoeconomic power, such as deterritorialized financial regulatory power and the adjacent power exercised through shared borders. This approach contributes to a better understanding of the geoeconomic rivalries in Myanmar and across Southeast Asia.