Financial Stake Research Articles

Exploring the effects of institutional logics on entrepreneurial opportunity evaluations in emerging economies

ABSTRACT It is becoming increasingly crucial to understand how institutional logics influence entrepreneurial behaviors and decisions as they impact job creation and startups globally. This research hypothesizes how two different logics—family and market—will influence entrepreneurial decision-making and action. To test our hypotheses, we conducted a two-wave study using an experimental approach to gather data from 326 aspiring entrepreneurs in India who made 630 opportunity evaluation decisions. We analyzed this dataset using subgroup regression analyses. We find significant effects of institutional logics on entrepreneurial decision-making. Particularly, we find that in contrast to extant theory from developed contexts, in emerging economies such as India, the family logic has a stronger influence on willingness to invest in entrepreneurial opportunities as compared to the market logic. We also identify critical boundary conditions of the decision context that make the effect of institutional logic more or less salient. Our findings highlight that financial stakes and support from close associates strengthen the relationship between the family logic and willingness to invest. However, reputational stakes were found to significantly weaken the relationship between the family logic and willingness to invest. Thus, our research contributes to the literature on entrepreneurship by exploring microprocesses of institutional logics and the impact of the family logic on entrepreneurial decisions in emerging markets. Moreover, we extend the institutional logics literature by highlighting that the logics act not only as a “lens” but also as a “mirror,” helping entrepreneurs predict how certain stakeholders will interpret and react to their decisions and actions.

Implications of Wet Leasing to Paper Airlines: Generating Capacity Outside an Air Service Agreement

Operating aircraft under leasing has increased greatly over the past twenty years. One type of aircraft leasing, wet leasing, is the practice of providing not only the aircraft to the lessee but also at least some of the crew, and potentially the maintenance, and insurance for the aircraft. In a wet lease agreement, because the lessor usually provides the majority of the aircraft’s servicing functions, the lessor is typically considered the operator of the aircraft but the aircraft is flown under the lessee’s designator code. In states where substantial ownership regulations are less restricted, an airline in one state can own a paper airline in another state. In such a scenario, the lessor may own the foreign airline that it wet leases to and use the lessee’s traffic rights.This paper focuses on the implications of a lessor wet leasing to a foreign paper airline in which the lessor has a financial stake. One such implication includes how the lessor can use the lessee’s traffic rights to generate a route between the lessor airline’s state of registry and a third state without an air service agreement between the states. The primary, and seemingly only, example of this innovation is the TACA airlines arrangement with LACSA that created a route between El Salvador and Canada from 2006 to 2010, when El Salvador and Canada did not have an air service agreement. Other implications of similarly innovative wet leasing arrangements to a paper airline or struggling airline are also analysed, such as an expansion of capacities beyond that provided in an air services agreement (ASA).

Employers and the Privatization of Public Health

This Article focuses on the role of employers in public health and argues that they constitute increasingly important actors in the U.S. public health arena. In the aftermath of the COVID-19 pandemic, a series of judicial decisions and newly enacted statutes enfeebled the public health powers of the federal and state governments. In a 2023 statement, Supreme Court Justice Neil Gorsuch clearly articulated his antagonism toward government-initiated COVID-19 interventions, describing them as “the greatest intrusions on civil liberties in the peacetime history of this country.” All too many share his views. Employers may be highly motivated to safeguard their workers’ health. Without healthy staff members, they cannot keep their doors open, and without visible pandemic protections, they cannot reassure concerned customers that their premises are safe. During COVID-19, many employers established mask, testing, social distancing, and vaccine rules even in the absence of government mandates. Employers’ profit motives do not diminish their contributions to public health. Their contributions can significantly reduce health disparities by protecting vulnerable individuals who otherwise face health care access barriers and economic challenges that exacerbate their risks. This Article posits that in future public health emergencies, the United States will increasingly rely on those with a financial stake in individuals’ health. Federal and state government authorities should therefore embrace employers as public health partners. To that end, this Article develops recommendations concerning guidance and funding support that should be available to assist employers in their emergency response efforts.

How to establish a new medical school? A scoping review of the key considerations.

Establishing new medical schools in medically under-served regions is suggested as part of the solution to the problem of doctor shortages and maldistributions. Establishing a new medical school is, however, a complex undertaking with high financial and political stakes. Critically, the evidence-base for this significant activity has not previously been elucidated. This paper presents the first scoping review on this vitally important, yet under-researched aspect of medical education and health workforce planning. To better understand the process of new medical school establishment, this review posed two research questions: (1) What is the nature of the available literature on establishing a new medical school?; (2) What are the key factors to be considered when establishing a new medical school? Five databases and grey literature were searched in 2015 and 2021 for English-language articles, using search terms related to new medical schools and their establishment. Inclusion and exclusion criteria were based on relevance and suitability in answering the research questions. Seventy-eight articles were analysed both structurally and thematically to understand the nature of the literature and the key considerations involved. Structurally, most articles were descriptive pieces outlining personal and institutional experiences and did not make use of research methodologies nor theory. Thematically, thirteen key considerations were identified including reasons for establishment; location choices; leadership and governance; costs and funding; partnerships; staffing; student numbers; student recruitment; curriculum design and implementation; clinical training sites; buildings and facilities; information and technology resources; and accreditation. Significant gaps in the literature included how to obtain the initial permission from governing authorities and the personal costs and burnout experienced by founding leaders and staff. Although, the literature on new medical school establishment is empirically and theoretically under-developed, it is still useful and reveals a number of important considerations that could assist founding leaders and teams to maximise the outcomes and impact of their establishment efforts. Critically, the evidence-base underpinning this complex undertaking needs to be better informed by theory and research.

Energy Tax Exemptions and Industrial Production

Abstract This paper investigates the impact of a large electricity tax exemption on production levels, employment and input choices in the German manufacturing industry. For two policy designs, we show that exempted plants increase their electricity use. This effect is larger under a notched exemption policy, where passing an eligibility threshold yields infra-marginal benefits, compared to a policy without such benefits. We detect no significant impact of the exemptions on production levels, export shares and employment. Using counterfactual simulations, we document that notched policies substantially distort firms’ production input choices when financial stakes are high and compliance costs are low.

International Tax Planning: Taxation of Professional Athletes—Stickhandling Through the Maze

Recent changes in Canadian tax laws have important implications for many professional athletes relocating to Canada from the United States or other countries. At the federal level, proposed changes to the alternative minimum tax, foreign-income reporting requirements, and a broad range of other taxes have introduced complexity and potential traps for the unwary. At the provincial level, the five provinces with a National Hockey League team have raised their top marginal tax rates over the last 10 years. Because the financial stakes can be high, understanding the tax laws and the tax-planning opportunities for professional athletes has become more important than ever. This article addresses some key income tax issues and planning opportunities for professional athletes earning income from the provision of cross-border services in Canada and the United States.

From Sport Psychology to Action Philosophy: Immanuel Kant and the Case of Video Assistant Referees.

The implementation of Video Assistant Referees (VARs) in 2018 has had a significant impact on the multi-billion-dollar soccer industry. As the most popular and watched sport globally, soccer's financial stakes are high, with clubs, leagues, broadcasters, sponsors, and fans heavily invested in the game. The ongoing debate surrounding the VAR system brings to light the intricate balance between preserving the authenticity of football (soccer) and harnessing technology to improve accuracy. It is crucial to strike the right equilibrium in order to uphold football's metaphorical power and sustain the timeless joy it has brought to fans throughout generations. In this context, Immanuel Kant's philosophy can offer valuable insights into the utilization of VARs in soccer. According to Kantian ethics, using VARs can be justified if it serves to enhance fairness and accuracy, aligning with the moral duties of referees. Nevertheless, it is important to consider the potential dehumanizing effects and the necessity of preserving the value of human judgment in the game. Therefore, this paper aims to explore in-depth the intricate dynamics that arise when technology is integrated into traditional practices, emphasizing the significance of critical reflection on the implications of such advancements.

Managing Patient Dissatisfaction and Billing Reconsideration Requests in Outpatient Clinics.

Nurse leaders in many settings are responsible for clinic operations. Knowing the medical and financial stakes of each patient encounter, it is not surprising to encounter patients requesting reconsideration of bills after services are provided. This article provides recommendations on how to successfully navigate billing reconsideration requests in outpatient settings.

BBC Funding: Much Ado about the Cost of a Coffee a Week

AbstractBBC funding (the licence fee model and the funding level) has been turned into a big issue out of all proportion to the low financial stakes—equivalent to the cost of one takeaway coffee a week for the whole household, excluding those with free TV licences. This article first proposes and explores three possible reasons for all the fuss: that licence payers take the BBC for granted, underestimating the value they get from it; that the attacks on BBC funding are part of a wider ‘war’ against it, driven by commercial or political vested interests; and that at least some of the criticisms of the licence fee reflect genuine, although much exaggerated, disadvantages. The article then evaluates four alternative funding models: advertising, subscriptions, general taxation and a universal household levy. It argues that the best long‐term model would be a flat, universal household levy, with exemptions for those least able to pay, as in Germany, with the funding level set by an independent body organised by Ofcom; and that, because the licence fee is becoming harder to sustain, this new funding model should be introduced at the start of the next BBC Charter in January 2028.

How neighborhoods came to matter more over time: A broad historical sketch

ABSTRACT The demise of neighbourhood-scale community has been lamented for decades. Tight-knit neighboring has indeed declined. However, its significance is colored by nostalgia. In cities and suburbs, the loosening of neighborhoods has encouraged residents and agents to create imaginary local communities, partly by fashioning local traditions. In changed form, community persists. Underlying it, for those able to choose, are individualistic calculations. With increasing homeownership more people have a financial stake in place, the investment aspects becoming prominent since the 1980s. Because most children attend local schools, the growing importance of education has made them a major factor in neighborhood choice, with financial implications. In counterpoint, lower-income households with little choice are constrained to neighborhoods where the disadvantages of crime, poor mobility, and indifferent schools are exacerbated by growing wealth inequality. The concept and reality of neighborhoods have never been more important, in urban studies and in urban life.

An approach to the financial stakes of water security faced by water and sanitation services in France

Water supply and sanitation (WSS) utilities in many countries are increasingly faced with pressing water risks which include the risk of "water shortages (includ- ing droughts), water excess (including floods), inadequate water quality mainly due to pollution, as well as the risk of undermining the resilience of freshwater systems (rivers, lakes, aquifers)" (OECD, 2013). These risks are exacerbated by climate change which increases the magnitude and frequency of extreme events. These developments, as well as the financial constraints on the services (limited capacity to increase the price of water/sanitation in an inflationary context and strong constraints on post-covid public finances) are all elements that must be ad- dressed to ensure the sustainability and resilience of the services in an environment now marked by threatened water security. This paper firstly presents an inventory of drinking water and collective sanitation assets in France. It identifies renewal needs as well as investment gaps thus underlining the magnitude of the infrastruc- ture related challenges that the sector needs to address to ensure the sustainability and quality of water and sanitation services. In addition, this paper includes ele- ments for evaluating the broader cost of water security. Indeed, in a context where climate change exacerbates water risks and encourages improving the resilience of water and sanitation services, the financial issues related to the proper management of assets cannot be limited to the sole issue of grey infrastructure renewal. It is also necessary to assess the financial challenges of water security through the manage- ment of water-related risks such as droughts, floods, and the preservation of aquatic environments. Thus, an assessment of environmental costs and damages generated by water and sanitation services is also provided to complete the analysis.

Data Points Necessary for Developing an Accurate Financial Statement

Introduction: Finance is vital in all facets of human life. However, financial prudence is not usually taught in schools. Healthcare professionals, especially nurses are always inundated with subjects on how to take care of people without recourse to the fact that they need to be healthy, including financially healthy to be able to make good input to the health of others. Thus, they are not prepared to run their own personal finance let alone that of a healthcare organization. There is a need for healthcare professionals to have a good knowledge of healthcare finances and financial flow within the healthcare delivery system. This discussion seeks to examine financial statement and data points necessary for developing accurate financial statement. Purpose: This essay aims to shed light on the financial statement with emphasis on healthcare financial statement. Summary: A Financial statement contains useful information deployed by decision-makers to evaluate performance and determine optimal strategies or modifications for investments and continued growth. It also serves as a tool for monitoring an organization's overall fiscal health and performance by the owners, shareholders, and others with a financial stake in the organization. Conclusion: A financial statement is also known as a financial report. It is the documentation of an entity's monetary activities and financial position, be it an individual, association, business, agency, or organization.

British South Asian ancestry participants views of pharmacogenomics clinical implementation and research: a thematic analysis

BackgroundSouth Asian ancestry populations are underrepresented in genomic studies and therapeutics trials. British South Asians suffer from multi-morbidity leading to polypharmacy. Our objective was to elucidate British South Asian ancestry community perspectives on pharmacogenomic implementation and sharing pharmacogenomic clinical data for research.MethodsFour focus groups were conducted (9–12 participants in each). Two groups were mixed gender, while one group was male only and one was female only. Simultaneous interpretation was available to participants in Urdu and Bengali. Focus groups were recorded and abridged transcription and thematic analysis were undertaken.ResultsThere were 42 participants, 64% female. 26% were born in the UK or Europe. 52% were born in Bangladesh and 17% in Pakistan. 36% reported university level education.Implementation of pharmacogenomics was perceived to be beneficial to individuals but pose a risk of overburdening resource limited systems. Pharmacogenomic research was perceived to be beneficial to the community, with concerns about data privacy and misuse. Data sharing was desirable if the researchers did not have a financial stake, and benefits would be shared.Trust was the key condition for the acceptability of both clinical implementation and research. Trust was linked with medication compliance. Education, outreach, and communication facilitate trust.Conclusions (Significance and Impact of the Study)Pharmacogenomics implementation with appropriate education and communication has the potential to enhance trust and contribute to increased medication compliance. Trust drives data sharing, which would enable enhanced representation in research. Representation in scientific evidence base could cyclically enhance trust and compliance.

Homeowner politics and housing supply

This paper examines whether homeowner opposition to nearby housing development affects local councillors’ votes on housing bills. Homeowners benefit financially from restricted housing supply through increased housing prices. City councillors, who approve housing development applications, cater to the needs of homeowners who are often long-term resident voters with a financial stake in neighbourhood amenity levels. Using data from Toronto, Canada from 2009 to 2020, we identify housing bills through a machine learning algorithm. We find that councillors who represent more homeowners oppose more housing bills. In particular, councillors are significantly more likely to oppose large housing developments if the project is within their own ward.

Constantine – Algeria- informal expansion, private lands value at stake. Towards a preventive approach to informal land use

In this paper, we examine the informal expansion of Constantine from the perspective of land as a property asset and a regulation target and what it involves in terms of stakeholders’ interplays. The study was conducted on the southeastern expansion by drawing a parallel between land use regulation and the actual land use on large private landholdings. A qualitative survey was conducted to investigate the informal production and use of urban land through semi-structured interviews with relevant public and private stakeholders. The study shows that informal land use lies in the conflict between urban planners and landowners over the conversion and allocation of large private landholdings and the financial stakes it involves. Land transactions are engaged in the informal market when land use regulation does not converge with the owner’s logic of land value maximization. The informal land market allows the latter to circumvent land use regulation and to capture land added value on hypothetical uses, whether by informally converting agricultural lands or allocating urban ones. As to the resulting informal land use, it is not limited to housing issues but also meets the needs of private actors for tertiary real estate. It is also pointed out that land use policy and regulations failure in countering the phenomenon lies in ignoring the informal land market upstream of informal land use and urbanization. Finally, the study suggests that a preventive approach should address the conflict over land use with land management oriented towards local approach and consensus seeking with the private stakeholders. In this sense, we propose a tool to assess the likelihood of the emergence of informal land market as a decision aid for urban planners and policymakers in terms of land use.

Feeling uncertain despite knowing the risk: Patients with OCD (but not controls) experience known and unknown probabilistic decisions as similarly distressing and uncertain

Patients with obsessive compulsive disorder (OCD) present as risk-averse and avoidant of feared stimuli, yet the literature examining risk aversion in OCD is conflicting. One possible explanation is that patients may exhibit aversion only on ambiguous tasks where the likelihood of possible outcomes is unknown. To test this idea, the current study assigned 30 patients with OCD versus 30 non-psychiatric controls (NPC) to conditions of known versus unknown risk (i.e., probabilities) on the Beads Task. Importantly, the task involved real financial stakes. We also examined self-reported intolerance of uncertainty (IU) as a mechanism. Results revealed a significant risk information × group interaction for certainty about the decision. Specifically, while NPCs felt significantly less certain on the unknown risk (versus known risk) task, the OCD group felt uncertain regardless of risk information. Results also revealed a significant main effect of group for distress after deciding, such that the OCD group was more distressed across all task versions compared to NPCs. Elevated trait IU was associated with higher task-related distress. Results indicate that even when patients with OCD are given information about likelihoods, they still feel uncertain and experience distress. Findings have clinical implications for addressing risk aversion and ambiguity/uncertainty in treatment.

Are People Generous When the Financial Stakes Are High?

How generous are people when making consequential financial decisions in the real world? We took advantage of a rare opportunity to examine generosity among a diverse sample of adults who received a gift of U.S. $10,000 from a pair of wealthy donors, with nearly no strings attached. Two-hundred participants were drawn from three low-income countries (Indonesia, Brazil, and Kenya) and four high-income countries (Australia, Canada, the United Kingdom, and the United States) as part of a preregistered study. On average, participants spent over $6,400 on purchases that benefited others, including nearly $1,700 on donations to charity, suggesting that humans exhibit remarkable generosity even when the stakes are high. To address whether generosity was driven by reputational concerns, we asked half the participants to share their spending decisions publicly on Twitter, whereas the other half were asked to keep their spending private. Generous spending was similar between the groups, in contrast to our preregistered hypothesis that enhancing reputational concerns would increase generosity.

Is scientific inquiry still incompatible with government information control? A quarter-century later

Twenty-six years ago, in response to regionally devastating fisheries collapses in Canada, Hutchings et al. asked “Is scientific inquiry incompatible with government information control?” Now, a quarter-century later, we review how government science advice continues to be influenced by non-science interests, particularly those with a financial stake in the outcome of the advice. We use the example of salmon aquaculture in British Columbia, Canada, to demonstrate how science advice from Fisheries and Oceans Canada (DFO) can fail to be impartial, evidence-based, transparent, and independently reviewed—four widely implemented standards of robust science advice. Consequently, DFO's policies are not always supported by the best available science. These observations are particularly important in the context of DFO having struggled to sustainably manage Canada's marine resources, creating socio-economic uncertainty and putting the country's international reputation at risk as it lags behind its peers. We conclude by reiterating Hutchings et al.’s unheeded recommendation for a truly independent fisheries-science advisory body in Canada to be enshrined in the decision-making process.

Compassionate Capitalism: Understanding the Juxtaposition of Personal Gain and Concern for Others

This article explores the concept of Compassionate Capitalism, which involves creating sustainable business models benefiting society and employees. Through Compassionate Capitalism, business owners can build trust with their customers and stakeholders, and in turn, enhance their long-term profitability through the Employee Stock Ownership Plan (ESOP) structure. The article also discusses the historical perspectives on Capitalism and articulates how Capitalism can coexist with compassion. It highlights the ESOP as a present-day example of Compassionate Capitalism, where employees are given a financial stake in the company for which they are employed. ESOPs redistribute ownership to the workforce and create a unique form of Capitalism that continues a successful company’s tradition. The ESOP benefits the younger members of a company, enhances retirement security, and creates a sense of ownership among employees. The article explains how employee ownership can align the interests of workers with those of management, creating a more collaborative, equitable workplace, contributing to greater overall economic growth. This article includes a case study examining a defense contractor's decision to become an employee-owned company through an ESOP transaction in 2010. The ESOP consulting firm, Executive Financial Services (EFS), provided a feasibility analysis and implementation for the transaction. Over the next decade, the company grew rapidly and eventually sold for $1.6 billion in 2020, creating hundreds of millionaires among the ESOP participants. This decision exemplifies the Compassionate Capitalism model, where the owners chose to honor and support the employees who helped build the company, creating generational wealth opportunities for myriad families. The decision to become an employee-owned company through an ESOP transaction shows that Capitalism and compassion can be compatible.

TS[formula omitted]HGRNet: A paradigm of two stream best deep learning feature fusion assisted framework for human gait analysis using controlled environment in smart cities

Industrial advancements and large financial stakes are rousing to grasp the aims of smart cities. Their key aim is to increase efficiency and citizens’ quality of life. Human Gait Recognition (HGR) is an important application of smart cities in which a person is recognized with the help of walking styles. The main advantage of HGR is an individual’s inconspicuous distant gait data acquisition. It is being utilized to mitigate security threats at airports, banks, embassies & various corporate vicinities. In this paper, a deep learning method is proposed for HGR. The proposed methodology utilizes a large Multiview gait database CASIA-B comprising video sequences. Initial video processing in frames precedes the implementation of the pre-trained deep model DenseNet-201. Reutilizing the same for gait recognition using Transfer Learning (TL) yields the target model, which further acts as the source for feature extraction from the global average pool layer. Feature extraction as a dominant step is responsible here for accurate gait recognition. Poor lighting, varying view angles, diverse clothing conditions, carrying luggage, etc., are some constraints that adversely affect systems’ efficiency. To tackle this situation, we use two parallel techniques in the process as- improved BAT algorithm (IBAT) and Entropy selection. We use a Canonical Correlation Analysis (CAA) to fuse these carefully selected features into a matrix finally. Final gait recognition is achieved by passing these fused features from the Softmax classifier. The proposed technique reaches 96.13% and 95.2% accuracy by utilizing all angles of the CASIA-B and CASIA-C datasets. The authenticity of this work is cross-examined with the existing methods.