Utilization Of Funds Research Articles

The impact of digital finance on resource allocation efficiency: evidence from China

ABSTRACT Digital finance presents new opportunities for enterprise development. This study develops a digital finance index utilizing data from Chinese prefecture-level cities and listed companies between 2011 and 2021, employing the OP and LP methods to assess resource allocation efficiency. The impact of digital finance on efficiency was analysed using a two-way fixed-effects model alongside an instrumental variable approach, while a two-step methodology was adopted to explore the underlying mechanisms. The findings demonstrate that digital finance significantly enhances resource allocation efficiency by broadening financing channels, improving corporate fund utilization, and reducing information asymmetry. Furthermore, the improvement in resource allocation efficiency attributed to digital finance is particularly pronounced in regions with higher per-capita income, larger urban populations, and state-owned enterprises. This study contributes a novel perspective on resource allocation efficiency and provides policy implications for effectively harnessing the opportunities afforded by digital finance in the contemporary era, thereby maximizing the benefits of the digital age and improving resource allocation efficiency.

Integrating SDGs to village development plan through the provision of infrastructure: The case of best village panchayat in Kerala, South India

With the declaration of the Sustainable Development Goals (SDGs), the importance of localisation principles and, consequently, the local-level institutions in implementing development policies came to the forefront. India adopted a thematic approach by condensing the seventeen goals into nine themes, to be worked upon by the local administrative units, furthering that each Village Panchayat (constitutionally known as Grama Panchayats) should select a theme in a plan year and strive towards attaining it. For the South Indian state of Kerala, with its good trajectory of decentralised governance, this localisation process of SDGs was rather smooth. In this article, we discuss the case of the best-performing Grama Panchayat (GP) in Kerala, which has identified ‘Village with Self-Sufficient Infrastructure’ as the development theme. Through qualitative research methodology, we examine how the Panchayat included projects specific to this theme in the development plans and how the implementation helped produce effects on multidimensional aspects of SDGs using the SDG Impact Assessment Tool. The case studies of different infrastructure-based projects endorse that with proper planning and implementation of such projects, the lowest tier of administration can significantly contribute to the improvement of development goals. We have delineated full fund utilisation through convergence schemes, community participation, and strong monitoring mechanisms as the factors leading the selected Panchayat to be the champion of the cause. The accomplishment exhibited by the Panchayat by integrating SDGs into the Village Development Plan through the projects on the theme of self-sufficient infrastructure can be well emulated by other local bodies across the world.

Exploring the Application of Refined Management in University Financial Management

The refined management of university finances primarily involves optimizing management methods and continuously improving financial management levels. This process helps enhance fund utilization efficiency, optimize resource allocation, ensure the rational use of educational funds, and provide solid financial support for the development of teaching, research, and other university undertakings. This paper explores the application of refined management in university financial management.

Evolution strategies for collaborative governance of marine microplastic pollution from the industry-research integration perspective

IntroductionMarine microplastics, are widely distributed in the global marine environment, posing a challenging issue that requires the joint efforts of global stakeholders.MethodsTo effectively address the issue of marine microplastic pollution (MMP) governance and analyze the dynamic changes in governance willingness of various participants under different scenarios, this paper meticulously constructs a game theory framework encompassing polluting enterprises, research institutions, and environmental organizations. Results(1) On the political level, the implementation of continuous and strong economic penalty mechanisms is an effective means to deter enterprises from evading MMP governance responsibilities. However, the effective execution of this strategy highly depends on the participation and supervision of environmental organizations. Therefore, it is essential to assign more roles and responsibilities to environmental organizations to ensure the thorough execution of governance measures. (2) On the technical level, the effectiveness of research directly determines the functional status of enterprises and research institutions in the MMP governance decision-making system. Weaker entities tend to make decisions following the behavioral preferences of dominant entities. Thus, deepening the integration of industry and research and fully unleashing the effectiveness of research outcomes in MMP governance is a key path to enhancing overall governance efficiency and effectiveness. (3) On the economic level, high governance costs often become a significant factor limiting the enthusiasm of all parties to participate. However, when innovative cooperation models achieve cost sharing and benefit sharing, the governance willingness of participants significantly increases. It is evident that optimizing resource allocation, improving the efficiency of fund utilization, and establishing a diversified and sustainable funding guarantee mechanism are crucial for advancing the in-depth progress of MMP governance. DiscussionIn summary, this study not only provides profound theoretical insights into the interaction relationships and behavioral choices of multiple stakeholders in MMP governance but also offers practical strategic recommendations for constructing an efficient and collaborative governance system.

Analisis Strategi Manajemen Badan Amil Zakat Nasional Sibolga Berdasarkan Analisis SWOTt

This research aims to evaluate the dominant internal and external factors affecting the effectiveness of managing Zakat, Infaq, and Sedekah (ZIS) at BAZNAS Sibolga. The research method involves SWOT analysis to identify Strengths, Weaknesses, Opportunities, and Threats in ZIS management. The analysis results indicate that Management Strengths and Operational Efficiency are the strongest internal aspects with a score of 92%, while Weaknesses such as Limited Resources and Inconsistent Implementation require more attention. To enhance effectiveness, Potential Collaborations and Government Support are considered key opportunities with scores of 100% and 85%, respectively. Threats such as Policy Changes and Competition need to be anticipated. In conclusion, optimizing Operational Efficiency with a focus on the collection and utilization of ZIS funds is key to improving community welfare and reducing poverty in Sibolga.

Challenges and Solutions in the Implementation of the Family Hope Program

The general background family Hope Program (PKH) represents a significant initiative aimed at reducing poverty through conditional cash transfers to very poor households, initiated in 2007. Specific background however, while many countries have adopted similar strategies, the effective implementation of such programs in rural contexts often faces numerous challenges. Knowledge gap This study specifically investigates the implementation of PKH in Gempol Village, addressing the knowledge gap regarding community attitudes and the practical obstacles that impede program success. Aims aim of this research is to analyze the barriers faced by stakeholders and participants in the execution of PKH. Results Findings reveal that successful implementation depends on enhanced coordination among government officials, program coordinators, and beneficiaries, as well as the necessity for ongoing education to ensure participants comprehend the requirements for enrollment in the program.The novelty of this research lies in its focus on financial management skills, which are often overlooked but crucial for effective fund utilization among beneficiaries.The implications of this study underscore the importance of strengthening communication among stakeholders and providing targeted educational interventions, ultimately contributing to the sustainability and effectiveness of the PKH initiative and similar community development programs in rural settings. Highlights: Coordination between stakeholders is crucial for successful program execution. Continuous education is needed for participants to understand requirements. Financial management skills are essential for effective fund utilization. Keywords: Family Hope Program, Implementation, Challenges, Solutions, Community

Evaluating the Role of Institutional Quality in the Relationship Between Education Expenditure and Manufacturing Growth: Insights from Quantile Regression Models

This study aims to provide empirical insight into the role of institutional quality and its impact on the relationship between expenditure on education and the growth of manufacturing in Malaysia. The study employed time series data from 1984 to 2020, using a quantile regression model for three quantiles: 25%, 50%, and 75%. The results showed that government spending on education (GXE) had a negative and statistically significant effect on manufacturing sector growth (MSG) on all quantiles in both interaction and non-interaction models. This may indicate a lack of quality, allocation, and efficiency in government expenditure and its targeting. However, the interaction effect between government spending on education and institutional quality (INTC GXE&IQI) on manufacturing sector growth (MSG) provided a consistently positive effect across all quantiles. This positive interaction means that the effect of education spending on manufacturing sector growth is conditional on the quality of institutions. The positive coefficients indicate that when government spending aligns with robust institutional frameworks, it effectively stimulates growth within the manufacturing sector. This phenomenon may be attributed to effective institutions amplifying the impact of government expenditure by ensuring efficient fund utilization for intended purposes. Policies aimed at strengthening institutions' quality —such as improving bureaucracy, enhancing transparency, and combating corruption—can enhance the efficacy of education expenditure, which supports the long-term and sustainable growth of the manufacturing sector.

Pengelolaan Pembiayaan Pendidikan di Sekolah Menengah Pertama Swasta

This study aims to explore the management of educational financing at SMP Islam Bakti Asih, where efficient financial management is key to achieving educational goals. The research is motivated by the financial challenges faced by private schools due to limited resources, affecting the quality of education and the welfare of teaching staff. Using a qualitative phenomenological approach, data were collected through observations, in-depth interviews, and documentation on budget planning, fund utilization, and financial oversight. The key findings indicate that the primary sources of funding come from the foundation and government (BOS) funds, which are utilized through detailed budget planning and regular financial audits to ensure transparency and accountability. The implications of these findings highlight the importance of comprehensive and proactive financial management, not only to maintain the school's financial stability but also to enhance the quality of education provided. This study contributes to the literature on educational financial management by providing insights into best practices for managing funds in private schools. Additionally, the limitations of this study include its narrow focus on a single school and the limited number of respondents, which opens opportunities for further research in broader contexts.

THE IMPACT OF RECENT LEASING ACTIVITY ON THE FINANCIAL SYSTEM IN THE REPUBLIC OF NORTH MACEDONIA

Leasing is an activity that refers to movable and immovable goods, in which the lessee determines the subject of leasing that is purchased or produced by the lessor and is given to the lessee for use for an agreed period, in exchange for payment of compensation for the use of the subject of leasing, based on the leasing agreement concluded between the provider and the lessee, according to the conditions specified in it. Leasing is an alternative way of financing where it is necessary to emphasize the use of the leased goods, and not the ownership over them (use but not possess), i.e. the philosophy of leasing arises from the idea of profitable use of an investment goods followed by a flexible method of payment that allows investment without the additional engagement of core capital, successful operation and maximum utilization of funds. In addition to the primary financing function that the leasing activity has for the lessee, if he uses the leased goods for business purposes, leasing in that case can also have an investment function. Regulated by the Law on Leasing, leasing activity in the Republic of North Macedonia has a fairly short lifespan, focusing exclusively on financial leasing. Through analysis, synthesis, and statistics, the authors processed the official data of the Ministry of Finance presented by the National Bank in the period mainly of the last decade, which offers a clear picture of the movements of the use of leasing in the country.

Productive WAQF business models through the integration of Islamic social and commercial finance

Poverty is an apparent problem in Indonesia, with the number of people living in poverty reaching 26.36 million. Islamic Social Finance (ISF), especially through productive waqf instruments, is one of the prospective solutions to overcome this problem. Although Indonesia has enormous waqf potential, waqf realisation is still very low. There are several challenges in the waqf collection process, namely low literacy or public awareness, unprofessional management, and a lack of qualified human resources (nazhir). This research aims to determine the optimal productive waqf model to be implemented in Indonesia using the Delphi ANP-BOCR method. To strengthen the research results, this study also conducted a meta-analysis as a form of robustness check and a benefits, opportunities, costs, and risks (BOCR) analysis of each model as supporting arguments. The findings of this study show that Islamic banks as a way to leverage funds for waqf are the most prioritised model. This is because Islamic banks act as intermediary institutions that have great potential for optimising the collection and management of waqf funds, which can increase economic growth. This is reinforced by the results obtained from the meta-analysis and several supporting arguments, which show that Islamic financial institutions (including Islamic banks) can improve community welfare through the utilisation of social funds (including waqf). Besides that, this research also discusses an alternative model of productive waqf through digitalisation by adopting several technologies that aim to increase efficiency, transparency, and accessibility so as to optimise the collection and management of waqf funds more effectively and efficiently.

Analysis of the market value of Premier League attacker

The main purpose of this study is to use the method of multiple linear regression to conduct a comprehensive discussion on "Factors affecting the market price of Premier League striker players". In the era of increasingly hot soccer, the transfer of stars is a big attraction in the transfer period every year, but there are still many clubs signing overpaid and underpaid players. The overall objective of this study is to find the determinants of players' price, so as to provide a reference for clubs to improve the utilization of funds in the transfer period. In this study, a dataset of player data for the 17-18 Premier League season was first downloaded via Kaggle. Then, the dataset obtained from Kaggle was used for empirical analysis to identify correlations that significantly affect the market price of players, and multiple linear regression analysis was performed after processing these data. Through the calculations, it was determined that match performance and goals scored had a significant positive impact on market value, and age and match possession had a non-significant negative impact on market value, which suggests that there is a need for the relevant team managers to optimize these aspects in order to promote a virtuous cycle of club development and team performance.

Analysis of the market value of Premier League attacker

The main purpose of this study is to use the method of multiple linear regression to conduct a comprehensive discussion on "Factors affecting the market price of Premier League striker players". In the era of increasingly hot soccer, the transfer of stars is a big attraction in the transfer period every year, but there are still many clubs signing overpaid and underpaid players. The overall objective of this study is to find the determinants of players' price, so as to provide a reference for clubs to improve the utilization of funds in the transfer period. In this study, a dataset of player data for the 17-18 Premier League season was first downloaded via Kaggle. Then, the dataset obtained from Kaggle was used for empirical analysis to identify correlations that significantly affect the market price of players, and multiple linear regression analysis was performed after processing these data. Through the calculations, it was determined that match performance and goals scored had a significant positive impact on market value, and age and match possession had a non-significant negative impact on market value, which suggests that there is a need for the relevant team managers to optimize these aspects in order to promote a virtuous cycle of club development and team performance.

Decentralized planning for non-communicable diseases: protocol for an explanatory study of local self-government projects in Kerala, India

Background: Priority setting and resource allocation in decentralised planning is often not in line with the social and economic burden associated with non-communicable diseases (NCD). This is a protocol developed for the purpose of analysing the pattern of budgetary allocation and utilisation of funds for health sector projects on non-communicable diseases by the local self-government (LSG) institutions in Kerala. It is also proposed to document the processes along with the stakeholders’ role in planning. Methods: Following explanatory design, first we will do secondary data analysis of health sector projects on NCD fund allocation and utilisation, followed by document analysis and key informant interviews in LSGs at selected districts of Kerala. Following policy framework used in public health related policy processes, will perform descriptive analysis, based on stages heuristic in decentralised planning. Multiple dimensions of priority setting and allocation process will be studied. Explanatory analysis for resource allocation process will be studied using Kingdon’s multiple streams framework. Conclusions: The study will help in understanding the decision-making process for fund allocation with the specific focus on NCD. It will also help in building an evidenced based framework for decentralized health planning. Trial Registration: No: SCT/IEC/1849/FEBRUARY/2022.

The Effects of Transparency, Accountability, Village Development, and Political Interest on Village Fund Allocation Management

This research evaluates the influence of transparency, accountability, village development, and political interest on Village Fund Allocations (ADD) management by village governments, addressing community concerns about fund usage. Using a quantitative approach with multiple linear regression, data from 100 villagers in four Ponorogo Regency villages, East Java, were analyzed. Results indicate that transparency, accountability, and village development positively impact ADD management, while political interest has a negative effect, highlighting potential challenges associated with political influences on fund management. However, the study has limitations, such as a small sample size and a focus on a specific regency, limiting generalizability. Recommendations include conducting future research with larger, more diverse samples for broader insights. Practical implications suggest implementing policies and practices to enhance transparency, accountability, and village development for effective fund utilization. Additionally, awareness of the negative impact of political interest underscores the need for measures to mitigate undue political involvement in fund management.

Associations of School-Level Factors and School Sport Facility Parameters with Overweight and Obesity among Children and Adolescents in Pakistan: An Empirical Cross-Sectional Study.

Childhood overweight and obesity are increasingly prevalent in Pakistan, posing significant public health challenges. This study explores the associations of school-level factors and school sports facility parameters with overweight and obesity among children and adolescents in Pakistan. A cross-sectional study across seven random districts in Punjab province, Pakistan, was conducted using a representative multistage random cluster sample. Underweight (BMI < 5th percentile), overweight (85th ≤ BMI < 95th percentile), and obese (95th percentile ≤ BMI) were defined using the US Center for Disease Control (CDC) 2000 criteria. Statistical analyses including the Chi-square test, Pearson correlation coefficient, and linear regression were performed to investigate predictive characteristics. Logistic regression analysis assessed the simultaneous impact of several covariates on dichotomous outcomes, with 95% confidence intervals (CIs) computed and a significance level set at p < 0.05. The study included 4108 Pakistani school children aged 9 to 17 years (mean age = 13.92 years, 59.3% boys) from 62 schools. The prevalence of overweight and obesity was 19.4% and 10.7%, respectively. Findings revealed a concerning lack of physical education activities (60% reported 0 sessions per week), morning exercise (60%), and classroom exercises (66%) among school-aged children. Leadership attitudes toward physical education (β = 0.04, p = 0.006) and students' satisfaction with the playground (β = 0.05, p = 0.015) showed significant associations with body weight status. Conversely, provision of physical education facilities, effective fund utilization for physical education, meeting school sports facility requirements, and weekend opening of school sports grounds did not significantly impact weight status. Satisfaction with the playground was significantly associated with a lower risk of overweight (OR 0.81, 95% CI 0.69-0.95, p < 0.05), indicating reduced overweight likelihood among students satisfied with school playgrounds. The study underscores significant gaps in promoting physical activity within school environments and highlights the urgent need for interventions to enhance physical education resources and sports facilities, aiming to create healthier school environments and reduce overweight and obesity prevalence among students. Further research and interventions are crucial for promoting lifelong physical activity habits and improving student health and well-being.

How Is Financial Knowledge Related to Spending Behavior? Evidence From U.S. Stimulus Payments During the COVID-19 Pandemic

This study utilizes data from the 2021 National Financial Capability Study to explore the roles of both subjective and objective financial knowledge in shaping individuals’ financial decisions regarding the utilization of stimulus payments during the COVID-19 pandemic. Employing the probit model, the study explores how financial knowledge is related to stimulus fund utilization. Specifically, the findings reveal that individuals with higher levels of subjective and objective financial knowledge are less likely to use stimulus payments for immediate spending, such as purchases and bill payments, while being more likely to use these payments toward debt repayment, saving, stock market investment, and donation. Notably, subjective financial knowledge is found to play a greater role in decisions related to the utilization of stimulus funds compared with objective financial knowledge. Additionally, this study indicates that the potential influence of financial knowledge on stimulus fund utilization varies across gender, employment, and marital status. These insights provide implications for practitioners in family financial counseling and planning practices, enabling them to better comprehend and support their clients during periods of economic disruptions and stimulus initiatives.

Product market competition, debt rollover risk and financial default risk: evidence from Indian corporates

PurposeThe study investigates the impact of the interaction effect of product market competition and rollover risk on the default risk of the firms.Design/methodology/approachThe study used the sample of unbalanced panel data from Indian corporates without any survivability bias over the period from 2009 to 2020 consisting of 30,396 firm-year observations of 6,718 firms spread across 143 industry groups. The panel data regression tests the interaction effect in the context of the asset substitution problem, predation threat theory, competitive shock, and competitive risk.FindingsThe empirical results highlighted the dominance of the predatory effect of competition over the disciplinary advantage of short-term debts. The competitive shock to the industry results in a higher credit spread for refinancing short-term debt and significantly increases rollover risk for firms. Smaller firms have higher default risk from rollover losses than larger firms in the face of competition due to asset-substitution problems and strong rivalry. For firms with weaker fundamentals, the interaction effect of rollover risk and competition exacerbates the flight-to-quality problem, resulting in a systemic event.Practical implicationsThe investors can benefit by factoring ex-ante the interdependence of competition, debt market illiquidity, and default premia while calculating the credit risk. The shareholders of competitive firms can reduce the moral hazard of refinancing the rollover losses and defaulting at a higher fundamental default threshold, by reducing sub-optimal utilization of funds by managers and agency costs.Originality/valueAs per the best of author knowledge, the present study is the first to study the moderating effect of product market competition in exacerbating default risk through the rollover channel.

Development and Improvement of Celebrity Foundations in China

As a form of contemporary philanthropic organizations, celebrity foundations have emerged as a new entity in the field of social charity. Supported by the personal identity and influence of celebrities, the development of celebrity foundations is significantly influenced by their fame and impact. Compared to traditional foundations, celebrity foundations possess broader influence and quicker fundraising capabilities. However, Chinese celebrity foundations also encounter challenges during operation, such as excessive reliance on celebrity effects, insufficient management capabilities, lack of transparency, and insufficient specialization. In response to these challenges, celebrity foundations should improve in the following aspects: firstly, celebrity foundations should moderately separate from celebrities and establish their own brand and credibility. Secondly, internal governance structures need further enhancement, with increased supervision and standardization of fund utilization and project management, as well as collaboration with professional teams to provide more specialized support for celebrity foundations. Lastly, talent recruitment and cultivation should be emphasized to establish a specialized team belonging to the foundations brand, thus enhancing the foundations management level and operational efficiency.

Development and Improvement of Celebrity Foundations in China

As a form of contemporary philanthropic organizations, celebrity foundations have emerged as a new entity in the field of social charity. Supported by the personal identity and influence of celebrities, the development of celebrity foundations is significantly influenced by their fame and impact. Compared to traditional foundations, celebrity foundations possess broader influence and quicker fundraising capabilities. However, Chinese celebrity foundations also encounter challenges during operation, such as excessive reliance on celebrity effects, insufficient management capabilities, lack of transparency, and insufficient specialization. In response to these challenges, celebrity foundations should improve in the following aspects: firstly, celebrity foundations should moderately separate from celebrities and establish their own brand and credibility. Secondly, internal governance structures need further enhancement, with increased supervision and standardization of fund utilization and project management, as well as collaboration with professional teams to provide more specialized support for celebrity foundations. Lastly, talent recruitment and cultivation should be emphasized to establish a specialized team belonging to the foundations brand, thus enhancing the foundations management level and operational efficiency.

ANALISIS TRANSPARANSI DAN AKUNTABILITAS DALAM PENGELOLAAN DANA DESA (STUDI KASUS PADA DESA LIMBANGAN DI BREBES)

Accountability is a form of accountability carried out by the government to report and present activities that have been carried out to the public. This accountability can be used as a basis for implementing transparency in every activity implementation. This research aims to determine and assess accountability and transparency in the management of village funds carried out by the Brebes Village Government, Brebes Regency. This research uses descriptive qualitative methods with the Nvivo 12 Plus tool. The data collection technique used was interviews. This interview was conducted involving the village government, totaling 3 informants. The results of this research indicate that the financial management of village funds by the Limbangan Village Government is in accordance with applicable laws. the transparency process carried out by the village government, namely using information media in the form of a banner detailing funds placed at the village office. Even though the management of village funds that has been carried out by the village government is quite good, it still needs to be improved, and there must be outreach to the community to participate in the implementation and utilization of village funds