Financial Support Research Articles

The Determinants of International Certification among Manufacturing Firms in Pakistan

This study investigates the factors that influence international certification among Pakistani manufacturing firms. About a third of such firms in Pakistan hold one or more certificates related to management or technical processes. The existing literature suggests that this demand is influenced by factors such as sector of activity, market competition, human capital and information environment, ownership type, and available resources. By analyzing a large, random sample of Pakistani manufacturing firms, we find strong correlations between these factors and international certification. We also discover that owner attitude, an aspect overlooked in previous studies, plays a role in the certification decision. While our statistical model does not fully explain the determinants of certification for small firms, we do find that certification is associated with increased profitability among small enterprises. This implies that small enterprise development agencies can improve the effectiveness of their programs by considering certification status as an additional criterion for allocating support funds. The results of our study have policy implications related to exporting, staff training, diffusion of firm ownership, and enhanced information access facilitated by modern technology tools.

Abstract B136: Health related social needs of people with cancer underrepresented in clinical trials: Early experience of the Cancer Research Equity and Advocacy through Engagement Initiative (CREATE) clinical trial patient navigation program

Abstract Background: Black and African Americans (AA) remain severely underrepresented in therapeutic oncology clinical trials (TOCTs) and have the highest cancer mortality rates compared to all other groups. Racially biased clinical trial offers, poor physician-patient communication, and social determinants of health largely contribute to these racial inequities. The UNC Lineberger CREATE Clinical Trial Patient Navigation (CTPN) program was established to advance racial equity in TOCT participation. The CTPN program entails clinical trial education, facilitating communication between patients and their medical/research team, identifying barriers to clinical trial participation and connecting patients to resources to address those barriers. Here we describe the health-related social needs and referrals made to address those needs. Methods: The CTPN program employed a targeted proactive approach to reach patients with a new cancer diagnosis who self-identified as Black/African American (AA) or were insured by Medicaid. The patient navigator used the electronic medical record (EMR) to review the oncologist's schedule to identify patients meeting the above criteria. Identified patients received a letter in the mail describing the CTPN program and were offered an in-person clinic visit and/or telephone call with the patient navigator. During these encounters, the patient navigator assessed clinical trial barriers including health-related social needs and made referrals to resources to help address these needs. The CTPN program was initially launched in the thoracic oncology clinic but later became available for direct referrals from all oncology groups. Results: In the first 18 months of the CTPN program, there were 292 patient encounters among183 unique patients who received navigation services. Most patients (83%) were identified through the EMR, 79% identify as Black or AA, 64% have Medicaid. Patients had a diagnosis of lung (62%), head and neck (18%), gynecological (9%), and breast (2%) cancers. Clinical trial related barriers and health-related social needs included lack of clinical trial knowledge (68%), housing (9%), transportation (26%), financial support (18%), and family/caregiver support (14%). CTPN program materials were provided to address clinical trial informational needs (78%), and referrals were made to assist with emotional (13%), logistical (20%), and financial (21%) needs. On average, 2 referrals were made per patient encounter. Conclusion: CTPN can engage Black/AA patients with cancer using a proactive EMR approach to identify patients and may help address health-related social needs to facilitate cancer care and potential clinical trial participation. Future work will evaluate the impact of CTPN on enrollment of Black/AAs in therapeutic cancer clinical trials. Citation Format: Ashley Rankin Collins, Hayley N. Morris, Lauren N. Matthews, Omar N. Buenaventura Gomez, Marjory Charlot. Health related social needs of people with cancer underrepresented in clinical trials: Early experience of the Cancer Research Equity and Advocacy through Engagement Initiative (CREATE) clinical trial patient navigation program [abstract]. In: Proceedings of the 17th AACR Conference on the Science of Cancer Health Disparities in Racial/Ethnic Minorities and the Medically Underserved; 2024 Sep 21-24; Los Angeles, CA. Philadelphia (PA): AACR; Cancer Epidemiol Biomarkers Prev 2024;33(9 Suppl):Abstract nr B136.

Retraction Note: Does financial institutions assure financial support in a digital economy for energy transition? Empirical evidences from Markov chain and DEA technique

Retraction Note: Does financial institutions assure financial support in a digital economy for energy transition? Empirical evidences from Markov chain and DEA technique

Nonsubstitutable Consumption Growth Risk

Standard applications of the consumption-based asset pricing model assume that goods and services within the nondurable consumption bundle are substitutes. We estimate substitution elasticities between different consumption bundles and show that households cannot substitute energy consumption by consumption of other nondurables. As a consequence, energy consumption affects the pricing function as a separate factor. Variation in energy consumption betas explains a large part of the premia related to value, investment, and operating profitability. For example, value stocks are typically more energy intensive than growth stocks and thus riskier, because they suffer more from the oil supply shocks that also affect households. This paper was accepted by Lukas Schmid, finance. Funding: C. Schlag gratefully acknowledges research and financial support from the Leibniz Institute for Financial Research SAFE. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2022.01269 .

Constraints to Green and Digital Transition in the Greek Agri-Food Sector

The European Union's Green Deal and the United Nations' 2030 Agenda are key strategic frameworks that aim to transform all nations towards a climate-neutral continent. At the heart of achieving this ambitious goal is the need for greater policy coherence, particularly concerning the digital Green Deal. The adoption of digital technologies in green sustainability initiatives requires a comprehensive update of existing policies to properly exploit all the opportunities offered by digitalisation. This study focuses on identifying constraints to environmental and digital advancement in the agri-food sector. In particular, it examines existing policies and those that need to be implemented to facilitate the green and digital transition of agri-food enterprises. The research methodology comprises in-depth, semi-structured interviews with fifteen (15) policymakers at the national, regional, and local levels in Greece, all of whom are responsible for decision-making in the agri-food sector. The findings underline the need for a substantial reform of the current institutional framework to make it more favourable to agri-food enterprises, especially for very small enteprises and SMEs, for whom the barriers are even greater. Improving access to financial support is also highlighted as a critical need. To ensure a smooth twin transition towards environmental sustainability and digitalisation, the study advocates improving the educational background and promoting digital literacy among stakeholders. These measures are considered necessary to increase the competitiveness of agri-food enterprises in today's global landscape. The study essentially highlights the central role of a strong policy framework for the environmental and digital transition of the agri-food sector. By addressing the barriers identified in the study through the implementation of appropriate policies, agri-food entrepreneurs can adopt sustainable practices and harness the transformative potential of digital technologies.

Comparative analysis of factors and barriers intervening in research participation among romanian and international medical graduates from one romanian medical faculty across three generations

Abstract Objectives This study focuses on the factors that encouraged engagement in research activities, as well as the barriers that restricted their involvement, until the final year of study at Iuliu Hatieganu University of Medicine and Pharmacy Cluj-Napoca, Faculty of Medicine. The main objectives of this study are to investigate potential disparities in research culture and student engagement in various research opportunities between Romanian and international medical graduates, as well as to conduct an examination of the observed patterns across various graduating years (2021–2023). Materials and methods A cross-sectional investigation was conducted among graduate students of the Faculty of Medicine at the Iuliu Hațieganu University of Medicine and Pharmacy in Cluj-Napoca, Romania. From 2021 to 2023, all graduate students from the Romanian and international programs of the faculty were asked to participate in the study by filling out an anonymous online questionnaire. The final sample included 572 participants, of whom 392 were students from the Romanian section and 180 were students from international programs. Results Motivation and personal interest drive research engagement, according to over half of graduates. For over one-third of graduates, institutional elements like financial support and education also play a major role, as does the desire to enhance their curriculum vitae. More than 25% of graduates value community influence, 70% of graduates attended medical congresses, 12–15% presented papers at medical conferences, 23% wrote medical articles, 10–15% published at least one scientific paper in medical journals, and 20% participated in medical school research projects. Comparative analysis showed that Romanian students start research earlier, attend more medical conferences, present posters, collect data for studies, and are more interested in publishing graduation thesis data in scientific journals. To encourage international students to participate in research, the study found that colleagues’ examples were more important, and both time and funds were key barriers. The research also shows that 2022 and 2023 graduates will organize more scientific conferences. According to the study, 2022 graduates began their research earlier than others. Conclusions To increase student engagement in research activities, medical schools should prioritize the promotion of positive factors, minimize common barriers, offer customized support and resources, encourage collaborative research activities, and facilitate cross-cultural learning.

Dual career policy at federal universities in Brazil: analysis of academic and sporting support

Internationally, the implementation of holistic programs aimed at academic, financial and retirement preparation support for student-athletes who find themselves in dual careers, such as university students, has been widespread and intensified. However, little is known about the subject in the Brazilian national context, because although there are related studies, they are punctual and related to specific universities. In view of the above, this study aimed to investigate public policy aimed at student-athletes at Brazilian federal universities. This is an exploratory, qualitative, cross-sectional and documentary study, using the websites, internal regulations and public notices of 69 Brazilian federal universities for the year 2023, using the content analysis technique. The results indicate that 72.05% offer some kind of support to DC based on the holistic model, 66.17% of which is academic and 60.29% sports. Among the academic support, the flexibility of assessments (57.35%) and the differentiated treatment of absences (51.47%) were close. The sporting support is centered on partial payment of competition costs (60.29%) and athlete grants are restricted to 20.58% of universities. It can be concluded that Brazil's federal universities have policies that include support actions that integrate the holistic model (academic), with incipient coverage of scholarships (sports), but do not effectively follow the holistic model.

We Have Spent Time, Money, and Effort Making Self-Help Digital Mental Health Interventions: Is Anyone Going to Come to the Party?

Although efficacious psychotherapies exist, a limited number of mental health care providers and significant demand make their accessibility a fundamental problem. Clinical researchers, funders, and investors alike have converged on self-help digital mental health interventions (self-help DMHIs) as a low-cost, low-burden, and broadly scalable solution to the global mental health burden. Consequently, exorbitant financial and time-based resources have been invested in developing, testing, and disseminating these interventions. However, the public’s assumed desirability for self-help DMHIs by experts has largely proceeded without question. This commentary critically evaluates whether self-help DMHIs can, and will, reach their purported potential as a solution to the public burden of mental illness, with an emphasis on evaluating their real-world desirability. Our review finds that self-help DMHIs are often perceived as less desirable and credible than in-person treatments, with lower usage rates and, perhaps accordingly, clinical trials testing self-help DMHIs suffering from widespread recruitment challenges. We highlight two fundamental challenges that may be interfering with the desirability of, and engagement in, self-help DMHIs: (1) difficulty competing with technology companies that have advantages in resources, marketing, and user experience design (but may not be delivering evidence-based interventions) and (2) difficulty retaining (vs initially attracting) users. We discuss a range of potential solutions, including highlighting self-help DMHIs in public mental health awareness campaigns; public education about evidence-based interventions that can guide consumers to appropriate self-help DMHI selection; increased financial and expert support to clinical researchers for marketing, design, and user experience in self-help DMHI development; increased involvement of stakeholders in the design of self-help DMHIs; and investing in more research on ways to improve retention (versus initial engagement). We suggest that, through these efforts, self-help DMHIs may fully realize their promise for reducing the global burden of mental illness.

Promotional Press Releases and Investor Processing Costs

Press releases are a primary disclosure channel firms use to communicate with investors. However, firms can also use press releases to self-promote to improve their public image. Promotional press releases are, on average, significantly less value relevant than those focused toward investors. They also contain more positive and emotional language as well as less specific and financially oriented language. Based on theories of disclosure processing costs and investor attention, we predict and find that firms’ recent high usage of this disclosure channel to self-promote is associated with increased investor attention and more efficient reactions to subsequent investor-focused disclosures. This effect is concentrated in less visible firms, whereas promotional press releases appear to have no effect on the pricing efficiency of more visible firms. We also provide evidence consistent with media attention being one channel through which these effects operate. Our findings deepen our understanding of how firms use press releases as a disclosure channel and contribute to the literature on disclosure processing costs. This paper was accepted by Eric So, accounting. Funding: This work was supported by resources at the Arkansas High Performance Computing Center. C. Rawson gratefully acknowledges financial support from the Sam M. Walton College of Business. B. J. Twedt gratefully acknowledges financial support from the Mays Business School. J. C. Watkins gratefully acknowledges financial support from the Mendoza College of Business.. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2023.01903 .

Organizational Selection of Innovation

Budgetary constraints force organizations to pursue only a subset of possible innovation projects. Identifying which subset is most promising is an error-prone exercise, and involving multiple decision makers may be prudent. This raises the question of how to most effectively aggregate their collective nous. Our model of organizational portfolio selection provides some first answers. We show that portfolio performance can vary widely. Delegating evaluation makes sense when organizations employ the relevant experts and can assign projects to them. In most other settings, aggregating the impressions of multiple agents leads to better performance than delegation. In particular, letting agents rank projects often outperforms alternative aggregation rules—including averaging agents’ project scores and counting their approval votes—especially when organizations have tight budgets and can select only a few project alternatives out of many. Funding: L. Böttcher acknowledges financial support from hessian.AI and the Army Research Office [Grant W911NF-23-1-0129]. Supplemental Material: The data files are available at https://doi.org/10.1287/orsc.2023.17357 .

The Rise of Informal Unions in the MENASA Region

Abstract This article examines the nature of informal marriages using data from a 2018 survey of over ten thousand Facebook users in seven Muslim-majority countries: Algeria, Egypt, Iran, Pakistan, Palestine, Tunisia, and Turkey. The article explores current attitudes toward informal marriages as well as the nature of such unions among the predominantly Sunni and Shiʿi Muslim social-media users who took the survey. First, the article finds that informal marriages have diffused across the Sunni Muslim world. These marriages are not necessarily loveless unions between women of modest means looking for financial support and men seeking legitimate sexual partners. In fact, the survey suggests that women in such unions are less likely to be financially dependent on their partners. Informally married spouses are as likely to say that they love their partners as those who are formally wed. However, this love, whether in formal or informal marriages, does not necessarily entail a deep bond between partners who share their most intimate feelings. Marriage—whether formal or informal—is perceived as fragile, not a lifelong commitment. The rates of divorce in the countries surveyed are approaching those in the West. These informal marriages might therefore be thought of as a new form of cohabitation, a practice increasing throughout the world.

Comments to the Editor on “The Willingness to Pay for Diversification”

Mahmoud [ Mahmoud O (2022) The willingness to pay for diversification. Management Sci. 68(8):6235–6249] presents experimental evidence showing that people have an intrinsic preference for diversification that is driven by risk aversion and loss aversion, with risk-averse and loss-averse individuals being more willing to pay for diversification. We document numerous discrepancies between the results reported in the paper and the results calculated from the experimental data. In particular, the data show that risk-averse individuals are actually less willing to pay for diversification, whereas the effect of loss aversion is nonmonotonic and not statistically significant. We thus show that the data do not support the paper’s claim of a preference for diversification driven by risk aversion and loss aversion. This paper was accepted by Tomasz Piskorski, finance. Funding: The authors gratefully acknowledge financial support from the OP Group Research Foundation [Grants 20220057 and 20220089]. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2023.01581 .

Academic difficulties, education-related problems, and discrimination among Thai gender-diverse medical students: a cross-sectional study of Thai medical schools

BackgroundMedical students with sexual and gender diversity (SGD) often face challenges in educational performance and encounter more education-related problems, potentially due to discrimination in medical schools. This study aimed to compare academic difficulties, education-related issues, and experiences of discrimination among medical students with SGD versus those identifying as non-SGD.MethodsThis was a cross-sectional study. Participants included a convenient sample of medical students aged at least 18 from five Thai medical schools, all recruited during the 2021 academic year. General demographic data, academic difficulties, education-related problems, and both positive and negative aspects of medical education, encompassing physical aspects, supporting systems, and discrimination, were assessed. The descriptive data and comparison between SGD and non-SGD medical students were performed. Binary logistic regression was adopted to evaluate the association between characteristics of discrimination in each categorized type of gender diversity.ResultsAmong 1322 medical students, 412 (31.2%) described themselves as having SGD. There was no significant difference in academic performance between SGD and non-SGD students. However, SGD students reported higher dropout thoughts (39.8% vs. 23.1%, p < 0.001) and self-perceived burnouts (84.2% vs. 74.9%, p < 0.001). The SGD group perceived lower support from medical staff and higher inadequate financial support (30.3% vs. 22.1%, p < 0.01; 11.2% vs. 23.1%, p < 0.01, respectively). 64.44% of students reported witnessing at least one form of discrimination. Lesbian students were more likely to report witnessing discrimination (OR = 3.85, [1.05–14.16]). Gay students were significantly associated with experiencing sexist remarks (OR = 6.53 [3.93–10.84]) and lower selectively prohibited educational opportunities (OR = 0.36 [0.21–0.63]).ConclusionsWhile academic performance did not differ between medical students with SGD and their non-SGD peers, SGD students reported more academic difficulties and perceived less support from medical staff and financial support. They also reported a higher incidence of discrimination. The need for specific interventions to address these issues should be further explored.

Nature-Based Solutions for Conservation and Food Sovereignty in Indigenous Communities of Oaxaca

The increasing demand for food and the overexploitation of natural resources rapidly deplete the planet’s ecosystems, highlighting the urgent need for sustainable alternatives. Nature-based solutions effectively promote agricultural sustainability and environmental conservation but require continuous financial and political support to overcome existing barriers. This research examines these solutions’ effectiveness in Santa María Jacatepec, a biocultural region of Indigenous peoples in the Papaloapan Basin, Oaxaca, Mexico. A mixed-methods approach combining quantitative and qualitative analyses uses National Institute of Statistics and Geography data to evaluate socioeconomic and environmental indicators. The results indicate that despite pressures to develop cattle ranching, communities have maintained rain-fed agriculture, especially the milpa system, ensuring food sovereignty and preserving agricultural biodiversity. Additionally, implementation of Voluntarily Conserved Areas has facilitated access to payments for environmental services, incentivizing ecosystem protection. However, financial and structural challenges persist, limiting the expansion of these solutions. Santa María Jacatepec exemplifies how Indigenous communities can apply nature-based solutions to strengthen agricultural sustainability and environmental conservation. Integrating traditional knowledge and strengthening conservation policies can enhance community resilience and ensure sustainable development amid increasing pressure on natural ecosystems.

Green Entrepreneurial Intention : The Role of Entrepreneurship Education and Entrepreneurial Self Efficacy

The purpose of this research is to examine how entrepreneurial self-efficacy functions as a mediator in the relationship between green entrepreneurial intention and entrepreneurship education. This research used a survey method with a quantitative approach. A proportionate stratified random sampling method was utilized to calculate the sample for this study, resulting in 305 respondents from various undergraduate programs at Universitas Sebelas Maret and Universitas Negeri Semarang. This study uses data collection techniques using a closed questionnaire in the form of a Likert scale with five alternative answers. IBM SPSS Statistic 26 software was utilized in this work as a statistical analysis tool to examine the mediation effect using route analysis. The study's findings suggest that students' intentions to pursue green entrepreneurship can be influenced by entrepreneurship education, with entrepreneurial self-efficacy acting as a mediator. In order to boost students' entrepreneurial ambitions, university policymakers must incorporate entrepreneurship instruction within the curriculum. Universities should include material on green entrepreneurship in their programs to prepare students to face environmental challenges through business. In addition, it is important to develop training programs that focus on increasing confidence in entrepreneurship, such as through business simulation and mentoring. Policymakers also need to support entrepreneurship education programs that promote sustainable business by providing financial support and supportive policies.

Analyzing the Fertility Rate Trends in Kuwait with GIS Between 2014 and 2024

A highly evident trend globally has emerged since the middle of last century, namely the decline in fertility rates. Whilst the underlying reasons are complicated and multifaceted, it is sufficient to say that there is no easy solution or permanent reversal plan that works. This study investigates the fertility rate in the state of Kuwait and uses GIS tools, such as Hotspot analysis to compare fertility rates between 2014 and 2024 along with their spatial distribution. The aim is to evaluate a government attempt to slow down or stop the decline by offering significant financial support to families with children. Furthermore, the method attempts to identify differences in fertility behavior between ethnic groups in Kuwait (Hadar and Badu) by spatially comparing the fertility rates in suburbs dominated by each group. The output results suggest that the government policies have only been partially successful in stopping the fertility rates; the fertility rates decreased, although only slightly, on average between 2014 and 2024. Additionally, it was clear that the Badu group of Kuwaitis, residing in the new peripheral regions, form significantly larger families than Hadar who live close to the older central suburbs. Combined, these findings suggest that further modifications to the policy umbrella for fertility are necessary that should match the motivations and address the concerns of each ethnic group and district in a more tailored way, rather than simply offering a lump sum to every family.

Оценка развитости узлов и тесноты связи креативной сети в региональной локализации

The relevance of the study is due to the need to obtain comprehensive ideas about the specifics of regional localization of creative industries, the functioning of which is based on close connections between organizations that form a creative product and organizations that promote the distribution of a creative product. The article aims to assess the development of nodes and the connectivity density of a creative network within a regional localization context. The research methodology includes the use of statistical data processing methods, as well as comparative and correlation analysis. By examining the connectivity between nodes in the creative network of organizations operating in the performing arts sector and those in the field of artistic creation, the study concludes that the connections are predominantly strong. This is attributed to the high degree of regional localization among organizations producing and promoting creative products. These findings highlight the significant role of regional development tools in fostering this creative network, particularly through the implementation of organizational and financial support measures.

Failure’s virtues: the seeding of an emerging entreprenurial ecosystem in a peripheral region

ABSTRACT A key strategy of governments in economically-lagging regions is to provide financial support to innovative start-ups. Yet, if such businesses fail, governments are criticized for ‘wasting tax-payers money’. This paper challenges this narrative. It provides a case study of Consilient Technologies, located in St John’s, Newfoundland and Labrador, Canada’s most economically under-developed province. The company had developed technology for the emerging cellular-phone market. It received significant funding from the Federal and Provincial governments. It recruited talent who would have left the province to seek employment and attracted others back to the province. It provided its workforce with the opportunity to acquire new competences, experience and knowledge along with entrepreneurial learning. Following its closure, its employees either moved to other technology firms in the emerging local entrepreneurial ecosystem or started their own businesses. The company also had significant demonstration effects for aspiring technology entrepreneurs. The study demonstrates to policy-makers that businesses that they support but which subsequently fail can nevertheless have a positive impact on the ecosystem. Accordingly, they need to have need to a tolerance for failure.

Sustainable Institutional Investors and Green Innovation: Evidence from Chinese Listed Firms

ABSTRACT This study examines the impact of sustainable institutional investors’ participation in the green innovation activities of firms. We hypothesize that institutional investors with sustainable preferences integrate long-term environmental goals into their investment strategies, consequently enhancing green innovation outputs. Using a dataset of Chinese A-share listed firms, we find a significant positive relationship between the presence of sustainable institutional investors and corporate green innovation outputs. Further analysis reveals that these investors promote the disclosure of environmental information and improve firms’ ESG performance, thereby providing financial support for green innovation initiatives. Our findings demonstrate that sustainable institutional investors “walk the talk” by fostering green innovation.

What Are the Firm Value Implications of SEC-Challenged Shareholder Proposals?

The Securities and Exchange Commission (SEC) permits managers to request the exclusion of shareholder-initiated proposals. I construct a novel data set of excluded and withdrawn proposals from the SEC’s responses to managers’ requests. An examination of announcement returns to withdrawal and exclusion decisions demonstrates that SEC-challenged proposals are value destroying. I find that special interest investors pursuing self-serving agendas and retail investors advocating for one-size-fits-all reforms explain the value-destroying nature of SEC-challenged proposals. On average, the SEC challenge benefits firm value by filtering out these harmful proposals. However, a regression discontinuity design reveals that proposals the SEC refuses to exclude may receive majority shareholder support and destroy firm value. This paper was accepted by Suraj Srinivasan, accounting. Funding: I thank the Swiss Finance Institute for its generous financial support. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2022.01344 .