Capital Resources Research Articles

Impacts of patent pledge financing on corporate investment: Evidence from a quasi-natural experiment in China

Patent pledge financing (PPF), emerging as the unification of knowledge capital and financial resources, not only enhances the value of firms' intellectual property but also offers new insights into addressing corporate financing challenges. However, the impact of PPF on corporate investment remains unclear. This study utilizes data from Chinese A-share listed companies to assess how the implementation of PPF pilot policies influences corporate investment through the construction of a difference-in-differences model. We reveal that the PPF pilot policies have significantly stimulated corporate investment by lowering debt financing costs and concurrently expanding investment opportunities. Subsequent analyses suggest that the impact of PPF pilot policies on corporate investment is more pronounced for companies facing higher financing constraints, possessing greater patent value, and operating in regions with lower levels of financial development. This research provides empirical support for the notion that financial innovation mitigates corporate financing challenges and fosters economic growth.

The Influence of Political Factors on Economic Growth: a Study of the Interconnection Between Governance Spheres in a Global Context

Objective: The purpose is to study the interaction between global political factors and economic progress and to create a model that illustrates the interaction between political and economic development factors. Theoretical Framework: This article explores how policy decisions at different administrative levels interact with economic dynamics at the national and regional levels. Method: The study comprehensive review of academic sources, publications, reports, and statistics, and used correlation regression and statistical methods. Results and Discussion: The research ultimately revealed a critical revelation: political factors play a vital role in economic progress, shaping the investment environment, maintaining macroeconomic stability, providing human capital resources, promoting infrastructure development, and creating efficient institutional framework conditions. Research Implications: By analysing specific cases, we examine the impact of the political context on the investment environment, market regulation, trade relations and other economic aspects. The key factors linking the political sphere and economic development are highlighted, as well as their importance in developing effective management strategies in the contemporary environment. Originality/Value: Effective policies that promote economic growth can bring prosperity and improve citizens' living standards, highlighting the vital link between policy decisions and economic outcomes.

How does financial development affect labour productivity in China? The role of fintech investment

Financial capital flow is an essential part of the national economy system and human resource capital. In this paper, we identify that financial development is an important determinant factor of productivity growth and can affect productivity through financial technology (fintech) investment. By constructing a multi-province, cross-year dataset in China from 2011 to 2021, this paper empirically investigates how fintech investment plays a role in the association between financial development and labour productivity. By examining the paths and possible association between them, we observed that the effect of finance on labour productivity is not reinforced by fintech investment in wealthier region. However, in less developed provinces, fintech investment, as represented by R&D expenditures in financial sector and the digital finance index, does the financial sector’s function in driving productivity growth. Financial development can contribute to increased technology investment in the financial sector, especially in digital finance, which, in turn, contributes to labour productivity in relatively poorer provinces more than in richer ones. Therefore, the government should formulate a finance-related development strategy targeting poorer provinces to stimulate fintech investment and boosts productivity growth.

How Can Regional Collaborative Governance Promote Public Value Through Relational Leadership? Grounded Research Based on Inter-Provincial Collaboration Between Guangdong, Hunan, and Guangxi in China

Studies on regional collaborative governance based on China's institutional context are abundant, but the leadership perspective behind regional collaborative governance has rarely been discussed in previous studies. Based on a review of relational leadership theory, this study adopts the grounded theory methodology to study the three cities bordering Guangdong, Hunan, and Guangxi provinces, condensing the components of relational leadership in regional collaborative governance and the general explanatory framework. The research found that relational leadership in regional collaborative governance is composed of mission-driven, social capital, governance resources, trust shaping, common learning, interaction mechanisms, and public value. Among them, mission-driven is the motivation, social capital and governance resources are the basic conditions, trust shaping and common learning are actions, the interaction mechanism is the carrier, and public value creation is the goal. At present, the main problem of regional collaborative governance is that the governance mechanism is "built but not run.” It is necessary to build an effective network governance system through the relational leadership of leaders, improve the overall public leadership of regional governance, and promote a governance system to operate more effectively. This research not only explores the dynamic leadership process of regional collaborative governance, but also enriches the micro perspective of regional collaborative governance research, expands the theoretical space of collaborative leadership, makes up the "leadership deficit" in the field of regional collaborative governance, and has reference significance and practical enlightenment for further promoting the performance of collaborative governance in the cross-region context.

Family wealth and adolescent physical health.

Inequalities in the distribution of wealth among families with children may have deleterious health consequences, especially for adolescent children. Marked by significant psychosocial and physiological changes, adolescence is a period when socioeconomic differences in chronic disease risk factors are observed. Unfortunately, research on socioeconomic inequalities in adolescent health has overlooked wealth, focusing instead on differences in health based on household income and parental educational attainment. Expanding our knowledge of wealth's role in shaping adolescents' current and long-term health is of critical public health concern, especially as wealth is more unequally distributed than income. This review discusses what is known about wealth-related inequalities in adolescent physical health and proposes four psychosocial mechanisms that may explain how wealth shapes adolescent physical health including (1) serving as a stress-buffer; (2) enabling parents to invest in opportunities to support adolescent healthy development; (3) increasing families' access to social and cultural capital resources that may promote salutary health behaviours while mitigating experiences of social-class discrimination; (4) and supporting adolescents' future expectations. We end with a discussion of existing questions and suggestions for future research to add to our understanding of wealth-related inequalities in adolescent physical health, which could be used to inform health equity interventions.

Forecast modeling of the dynamics of main resources and construction of a simulation system for managing the activities of the regional energy system of the Samara region

Regional energy systems are complex dynamic systems that operate in conditions of constant changes in the external environment. In this regard, the task of developing complex management decisions and conducting a systemic analysis of the efficiency of its activities arises. To solve this problem, it is necessary to improve the mathematical models of the dynamics of capital, labor and fuel resources, since they have the greatest impact on the energy output of the energy system. The paper analyzes existing methods of mathematical description of the dynamics of basic resources and their shortcomings. The paper considers covariance-stationary models of time series in the form of difference equations with a deterministic polynomial trend. The paper presents the results of mathematical modeling of the dynamics of capital, labor and fuel resources based on statistical data on the activities of the energy system of the Samara Region, published in the annual reports of regional ministries and energy companies, and conducts a statistical analysis of them. Based on a comparative analysis of mathematical models, the most effective models of the dynamics of capital, labor and fuel resources with the best predictive qualities were selected. Also, in the work, a single-loop simulation model of the energy system management system was constructed by forming investments for the renewal of capital resources and the structure of the decision support system (DSS) was developed, allowing the formation of mathematically sound management decisions.

Spatiotemporal Characteristics of “Urban-Suburban-Rural” Interaction in Shanghai Metropolis: A Perspective on Commuting Mobility

As urbanization progresses, the flow of population, capital, and other resources between urban and rural areas accelerates, leading to evolving urban-rural interactions. This study examines the spatiotemporal characteristics of the “urban-suburban-rural” interactions in the Shanghai metropolis from 2017 to 2020, focusing on commuting flows. The results indicate that interactions among urban, suburban, and rural areas in Shanghai metropolis have generally strengthened, characterized by increasingly distinct commuting structures and more pronounced strong connections. Urban commuting patterns predominantly rely on intra-urban flows, while suburban and rural areas demonstrate varying degrees of employment dependence on urban areas. Notably, rural areas exhibit stronger dependence on suburban areas than on urban centers. Despite these interactions, significant differences persist in the commuting structures among the three areas. The development of employment centers, such as the central city, urban peripheries, new towns, and industrial parks, has enhanced connections within urban areas, as well as between urban and suburban areas and between urban and rural areas. However, the commuting structures within rural areas and between rural and suburban areas have shown little change, reflecting lagging functional development in these areas. Shanghai metropolis should focus on unlocking the potential of suburban and rural areas by advancing functional development and establishing employment centers.

The Challenges to Provide Qualified Healthcare, Role of Human Capital, Job Performance Job Satisfaction and the Impact on the Economic Growth. A Review of Literatures

Healthcares prevention and treatment services quality is provided by qualified human capital that has good employee performance and good empoloyee satisfaction. Human capital is the main source of the economic and it has an important role as an economic asset that produce productivity, that is important for developing economic growth and prosperity of the country. The quality of healthcare prevention and treatment services is the service products that also can be the part of the economic and economic growth, that is produced by qualified human capital as human and management resources as the subject that can be supported by good employee performance & satisfaction and good hospital structures, infrastructures, technology and services. Quality of healthcare is patient oriented highest level of healthservice and treatment to provide safe, informative, efficacious, effective, fast-accurate and reliable healthcare services according to WHO updated clinical guidelines and standards of structures (management, system,policy) & infrastuctures (building etc) that have been adjusted by the time and adapted to the environment & cultures, which meet patient needs & demands with good performance and satisfied provider. Quality of healthcare provides a consistent delightfully and satisfactorily feeling of the patient and healthcares provider. Healthcare quality definitions common to all stakeholders involve offering patient oriented cares that contributes to patient well being satisfaction (known as patient satisfaction) and that is provided by good and satisfied employees performance as human capital resources that supported by good stuctures and infrastructures. Human capital is an economy asset, its is defined as the capacity and the stock of ability of human being to produce an income that important as fundamental source of economic growth. Human Capital refers to people knowledge-training-education, skill-ability-experiences, leadership-organization-motivation. creativity, innovation (organization, marketing, service & technology adoption) and health of individual in workforce. Job performance is an employee aptitude/ability in the accomplishment of a given task that are determined in their job description. that is measured against pre set standards of accuracy, completeness, cost and speed. Job satisfaction measure the personal pshycological effect .Job satisfaction is a pleasurable or positive emotional state resulting from the assessment/evaluative of people job or job experiences, that can be measured as cognitive (knowledge), affective (emotional) and behavioral components.

The Impact of Full Registration System on IPO Pricing Efficiency

Registration system is an important measure of capital marketization reform in China, which has a significant impact on IPO pricing efficiency. Based on the change of main board from approval system to registration system, we find that registration system can significantly reduce IPO underpricing rate and improve IPO pricing efficiency. The registration system has a moderating effect on the level of information disclosure and the pricing utility of intermediaries. The results show that the registration system reform is conducive to alleviating the problem of high IPO underpricing rate in China's capital market Registration system, improve the capital market resource allocation ability has accumulated certain experience.

Training Investments and Innovation Gains in Knowledge Intensive Businesses: The Role of Level Firm Human Capital and Knowledge Sharing Climate

ABSTRACTTraining investments are important in securing innovation gains. However, research on this relationship in knowledge intensive businesses is nascent. In particular, questions remain concerning what value different types of training hold for different types of innovation, and what mechanisms underpin these relationships. Drawing on human capital resources theory and collective learning theory, we develop and test a model explicating how specific and general training investments, through firm level human capital, lead to incremental and radical innovation. Additionally, we propose and investigate the supposition that the predicted positive relationships between training investments, firm level human capital, and innovation will be stronger when knowledge sharing climate is high. We test our model with two‐wave, multi‐respondent panel data gathered from 816 knowledge intensive businesses in France, Finland, Sweden, and the UK. We find that specific training is positively related to incremental innovation but not radical innovation, whereas general training is positively related to both types of innovation. With respect to firm level human capital, we find that it mediates these relationships and they are stronger when knowledge sharing climate is high. Furthermore, our analysis reveals that knowledge sharing climate moderates both the relationship between the two types of training investments examined and firm level human capital, and the indirect relationship via firm level human capital to incremental and radical innovation. We discuss the implications for theory, research, and practice.

The role of intermediaries in sectoral innovation systems: The case of Mongolian information technology sector

This paper analyses the types of innovation intermediaries that have emerged in Mongolia and investigates their roles within the information technology sector of the country. The study finds that diverse innovation intermediaries have emerged, and the majority of the intermediaries are non-sector specific, with only a few specializing in a single industry. The sector-specific intermediary plays a crucial role in building linkages and providing access to resources in sectoral innovation systems in developing countries. The study identifies several constraints related to funding and innovation policy support for these intermediaries. Consistent policy and financial support for sector-specific intermediary organizations could strengthen their role in the developing countries, particularly those with limited human and capital resources, such as Mongolia. This study contributes to an important understanding of the roles of intermediaries in underdeveloped and newly developed immature innovation systems of developing countries with low income and limited resources. As for the innovation system of Mongolia, it is impending to strengthen the sector-specific intermediary organizations through government and budgetary support and training for specialized human resources. The study also provides valuable insights that can guide the future development of the industry.

Climate finance and new multilateral development banks: approaching co-productive dynamics?

ABSTRACT Multilateral development banks (MDBs) play a key role in directing private capital and public resources to finance climate action. Different from the mainstream literature that focuses on the role of new MDBs in promoting climate finance, this paper provides novel evidence on how and why they can also be reshaped by climate finance. It takes as a case study the Asian Infrastructure Investment Bank (AIIB), a newly established yet now the world’s second largest MDB by membership, drawing on the bank’s climate trajectory since 2016, and 57 in-depth interviews with its officials and experts in Beijing, China. While initially created as an infrastructure-focused MDB, AIIB has been substantially shaped and reshaped into a climate-oriented bank. The shift is explained by the bank’s (1) financial considerations, (2) strategic considerations, and (3) organizational culture. The co-productive interaction entails two long-term effects. First, despite its geostrategic intentions and institutional setbacks, AIIB carved out an extra space for itself to grow. Second, there is an increasing risk of AIIB’s unique developmental identities being weakened as it leans towards climate finance.

Actor Analysis in Resolving Social Violence in The Mining Area of Kolaka Regency, Southeast Sulawesi Province

Actor participation has a significant impact on dealing with social violence because they possess the resources and abilities required to intervene and address social violence effectively. Actors with substantial resources can influence policies aimed at resolving, preventing, and enhancing community capacity in handling social violence. Therefore, it is crucial to conduct an analysis and mapping of actor resources in order to identify the strengths of each actor in the mining area of Kolaka Regency, Southeast Sulawesi Province. The method used is the Casey index to measure the actor capital index, and the Promethee analysis tool is used to rank actor capital and analyze the strengths and weaknesses of actor capital. The results of data processing found that the actors who play a role in overcoming social violence in the mining area of Kolaka Regency have the status of Village Head, Bhabinkabtibmas (Police), Babinsa (Army), and Community Leaders. The status of Village Heads tends to have quite high levels of social, economic, and human resource capital but low cultural capital. The author recommend that the government strengthen the capacity of village heads in handling conflicts and create Village Regulations regarding conflict resolution and social violence based on local cultural wisdom.

Workplace and Individual Social Capital as Moderators on the Work-Life Interface Processes: Testing a Multilevel Model

We explored the role of two different facets of social capital -workplace social capital (WSC) and individual social capital (ISC)- for work-life interface. Based on job demands-resources theory, we hypothesized WSC to buffer the positive relationship between job demands (workload and emotional demands) and work-life conflict and to boost the positive relationships between job (autonomy, performance feedback) and personal (psychological capital) resources and work-life facilitation. Similarly, ISC was expected to buffer the negative relationship between work-life conflict and well-being and to boost the positive relationship between work-life facilitation and well-being. Further, we hypothesized job demands to relate negatively to well-being via increased work-life conflict particularly in conditions of lower (vs. higher) WSC and ISC, and job and personal resources to relate positively to well-being through increased work-life facilitation particularly in conditions of higher (vs. lower) WSC and ISC. Hypotheses were tested among 547 workers nested within 115 organizations. Results from multilevel analyses revealed that the positive relationship between psychological capital and work-life facilitation was stronger for employees working in organizations with higher WSC, while work-life conflict related negatively with well-being only for employees with lower ISC. Job demands related negatively to well-being through higher work-life conflict but only among employees with lower ISC. Performance feedback, psychological capital, and WSC related positively to well-being through higher work-life facilitation. The findings highlight the importance of considering different facets of social capital in better understanding the work-life interface processes.

Retirement and Organizations: Advocating Organizational Responsibility for Retirement in Practice and Scholarship

In this editorial we discuss organizations’ role in the process of retirement. We argue that organizations have abdicated their moral obligation to older workers, thereby negatively impacting older workers’ wellbeing and their successful transition to retirement. We also note that organizational studies scholars have not paid adequate attention to that negligence, or its alternatives. We suggest that, among other reasons, this oversight can be a result of the comparatively privileged socioeconomic positions of faculty in business schools vis-à-vis older workers in many other occupations, as well as to a discord between traditional human capital and human resource management theories and modern retirement practices. Organizations exert significant influence on how and when workers retire, in ways that are related both to their treatment of older workers and their failure to provide adequate retirement support. These place the onus unduly on individuals to manage their own retirement while simultaneously restricting their control over retirement decisions. We call for renewed research attention to organizations’ role in retirement planning and decisions in pursuit of a more inclusive and socially responsible organizational approach to workforce aging and retirement.

The impact of tenure security and agricultural diversity on food security

ABSTRACT In the literature, the study of tenure and food security has largely involved separate lines of inquiry. In effect, insufficient research on the relationship between tenure and food security hampers the development of knowledge and policy guidance aimed at improving food and nutrition security. Drawing from this motivation, the authors study the relationships among tenure security, on-farm tree diversity, food security and dietary diversity. They employ Instrumental Variable approaches to examine the effect of tenure security and on-farm tree diversity on food security and dietary diversity. They find tenure security is inversely related with food insecurity as shown by its negative association with hunger scale, hunger index and hunger category. Furthermore, results suggest that tenure security improves minimum dietary diversity of women, while no significant relationship was observed with child dietary diversity. Moreover, on-farm tree diversity is positively related with minimum dietary diversity of women, which may point to higher accessibility and consumption of dietary food groups by women. Besides, the findings suggest that farmers leverage their human capital and land resources to enhance food security and dietary diversity. This underscores the importance of improving land access and ensuring tenure security for promoting on-farm tree diversity, food security and dietary diversity. It also highlights the need to explore the relationship between tenure security and food security. By recognizing the critical role of long-term tenure security, the study suggests that policymaking should gear towards developing strategies to foster on-farm tree diversity in order to improve food security and dietary diversity.

Introduction and Consultation on the Indonesia's Oil and Gas Sharing Contract at CNG Co.

Indonesia's oil and gas sector has traditionally employed Production Sharing Contracts (PSCs) to regulate the sharing of revenues between the government and contractors. Two key PSC models are used: PSC Cost Recovery and PSC Gross Split. The PSC Cost Recovery model allows contractors to recover their exploration and production costs before profits are shared, providing financial protection but reducing long-term profitability. Conversely, the PSC Gross Split model, introduced in 2017, offers a simpler revenue-sharing mechanism, eliminating cost recovery and directly splitting gross revenue between the government and contractors. This study analyzes the financial implications of both models using economic simulations, focusing on key indicators like net cash flow, net present value (NPV), pay-out time, and discounted cash flow (DCF) rate of return. Results show that the Gross Split model generates significantly higher gross revenue ($420.908 million) than Cost Recovery ($46.362 million), but at the cost of greater financial risks for contractors due to higher upfront investments and operating costs. The Gross Split model also provides higher long-term returns, with a net cash flow of $67.138 million compared to $8.252 million in Cost Recovery. However, the pay-out time is longer, and the DCF rate of return is slightly lower (29.95% vs. 31.8%). Ultimately, PSC Gross Split is more suited for contractors with higher risk tolerance and capital resources, while PSC Cost Recovery may be preferable for smaller contractors seeking to minimize financial risks. Both models offer distinct advantages depending on the contractor’s financial capacity and risk appetite.

ENTREPRENEURIAL INTENTIONS OF INDIAN UNIVERSITY STUDENTS: A FRAMEWORK OF INDIVIDUAL, CONTEXTUAL, AND EDUCATIONAL FACTORS

This study explores how universities in India can cultivate entrepreneurial potential among students, driving both innovation and economic growth. By developing a detailed framework, the research dives into the personal, contextual, and educational factors that inspire students' entrepreneurial intentions. It identifies self-efficacy, social networks, and structured entrepreneurship education as critical motivators, shedding light on how these elements collectively influence a student’s journey toward entrepreneurship. Using a thematic approach, the study pieces together insights from the literature, revealing that tailored educational programs, dedicated university support, and awareness of sustainability play powerful roles in equipping students with the skills and mindset needed for success. Social and cultural capital also stand out as key forces, creating support networks that can either fuel or dampen entrepreneurial ambitions. While the framework provides a valuable roadmap, it also highlights the need to adapt educational strategies to diverse cultural contexts, suggesting areas for future exploration. This work aims to inform educational practices and policies, ultimately contributing to a more vibrant entrepreneurial ecosystem. Through this integrated approach, the study offers new perspectives on how institutions can inspire and support the next generation of entrepreneurs, using education, social capital, and institutional resources as essential building blocks.

Managerial Human Capital and External Mobility: A Signaling Perspective

Managerial human capital is a valuable organizational resource comprising individual-level capacities that draw upon and leverage the knowledge, skills, abilities, and other characteristics (KSAOs) gained by employees both before and after promotion to managerial positions. While all organizations need strategically valuable managerial human capital, asymmetrical information in external labor markets creates uncertainty when firms look to hire individuals who can develop and/or provide these capacities. In contrast, internal labor markets, with the unique insights they have on current employees, are better equipped to assess workers’ managerial potential and competencies. As a result, an individual’s career outcomes in their current organization signal important information about their managerial human capital to hiring firms. In this paper we explore how signals sent by an individual’s time to first managerial promotion and time in managerial roles relate to their external mobility. We argue that there are nuanced and sometimes countervailing demand- and supply-side theoretical mechanisms that result in inverted U-shaped associations between these signals of managerial human capital and external mobility. We test our theory using complete career histories from a unique longitudinal and population-level dataset of 2,079 professionals employed in the scouting operations of Major League Baseball franchisees from 1988 to 2010. In addition to contributing to our understanding of signals and external mobility, the results of our logistic discrete-time event history analysis inform broader discussions concerning firm-specific human capital resources and provide new insights on the unique challenges associated with managerial human capital selection.

On capital and architecture: architectural capital in the constitution of society

Reflecting on society and the diverse assets at our disposal through which we shape our place within it signifies comprehending the multiple dimensions that constitute it. For Pierre Bourdieu, it is crucial to understand the various types of capital (resources, means and capacities) that we mobilize in order to meet our needs, and that characterize who we are. By incorporating architecture into the constitution of society, based on the space syntax theory, we argue that the way we organize ourselves – bodies in space and time – and the way we organize places constitutes a social macrostructure, into which architectural capital is inserted, which is the ability of a subject to mobilize architecture for his or her purposes. This capital entails possibilities or restrictions regarding how we occupy places and move within them, as well as the conditions that determine the visibility of others. It consists of both spatial capital and building capital, the former referring to open spaces with unrestricted access, and the latter to closed spaces with restricted access. This article aims to present the theoretical framework used to formulate the concept of architectural capital.