Funding Source Research Articles

The Pivotal Role of Auditor in the Arena of Corporate Governance: - Acritical Analysis in Light of Accounting Fraud

Corporate governance is the system where policies and rules are enforce by statutory body to manage the transparency, security and accountability in the organization. Basically principles of corporate governance are the recognized of its major sources of funding for business purpose like as shareholder and stakeholder.

Financing practices of labeled startups

The research investigates the formal and informal financing practices utilized by labeled startups in Algeria, emphasizing their essential role in economic development. Despite the recent dynamism observed in the Algerian startup ecosystem, these enterprises face substantial growth challenges due to limited access to financing, a critical factor for their success. To address this issue, a study was conducted involving 129 owners of labeled startups as of June 2023, employing a questionnaire for data collection. The data were analyzed using descriptive statistics and multivariate logistic regression. The findings confirm the prevalence of personal financing/love money as the dominant source of funding, with venture capital also identified as a significant financing method. Additionally, 28% of startups resorted to informal financing practices due to inadequate bank financing and difficulties in accessing other funding sources. The study also reveals that support structures have no significant impact on startup financing. This research provides valuable insights into the financing challenges faced by labeled startups and offers directions for future, more comprehensive research.

Bibliometric analysis on Deep Brain StimulationProcedures Conducted Between 2000-2023

Objective: Deep brain stimulation (DBS) is a treatment method that uses electrodes to stimulate the brain, affecting brain activity and potentially causing medical conditions. It is commonly used to treat Parkinson's disease, essential tremor, dystonia, epilepsy, Tourette syndrome, and obsessive-compulsive disorder. This bibliometric study examines advanced bibliometric parameters in articles published since 2000, focusing on trends in publishing organizations, countries, funding sources, international collaborations, and trend keywords. Materials and Methods: We have searched the Web of Science database to find articles on DBS which published since 2000. The search was performed by using the MESH keywords releated to "Deep brain stimulation". Results: This study presents a comprehensive analysis of 4,601 articles on Deep Brain Stimulation (DBS) from 2000 to 2023, focusing on publication trends, properties, funding, country contributions, and international collaborations. Noteworthy findings include a peak of 413 publications in 2020 and 14,992 citations in 2021. The overall trajectory demonstrates a significant increase in scientific output, with an average of 31.9 citations per article. Publication properties reveal diverse access categories, including 66 Early Access and 2,136 Open Access articles. The majority of records are in the Science Citation Index Expanded (93.980%). Clinical Neurology dominates research topics with 63.464% representation. Funding sources highlight major contributions from the USA, Germany, and China. The USA leads in research output, while the University of Toronto tops institutions. Major journals include "Stereotactic and Functional Neurosurgery" and "Movement Disorders." Keyword analysis emphasizes common themes like "deep brain stimulation" and "Parkinson's disease." International collaborations involve researchers from 75 countries, with the USA leading in total link strength. This study contributes valuable insights into the global landscape of DBS research. Conclusion: This analysis highlights the dynamic nature of Deep Brain Stimulation research, highlighting global collaboration and diverse topics, emphasizing the crucial role of key countries, institutions, and journals.

Sources of funding and performance of microfinance institutions over the life cycle

Microfinance institutions (MFIs) typically rely on both commercial sources of funding like equity, debt, and deposits, and non-commercial sources, such as donations and grants. Profit incentive theory predicts that commercial sources of funding positively impact performance regardless of the life-cycle stage of an MFI. Life cycle theory proposes that the sources of funding and the performance outcomes associated with those sources vary by life cycle stage. We test both of these theories using an 18-year global MFI data set. We find evidence of an interplay between profit incentive and life cycle theories as equity funding is positively associated with financial and social performance metrics, but only in mature MFIs. Grant funding is negatively associated with financial performance and positively associated with operating expenses over the entire MFI life cycle. The findings suggest that analyses of funding should consider the lifecycle and that policymakers should expect variation in MFI performance across both the lifecycle and by funding source.

The Swiss National MD-PhD Grants Programme: an analysis of the career trajectories of grant recipients between 1992 and 2021.

The aim of this study is to provide an analysis of the career trajectory of the recipients of a Swiss National MD-PhD grant thirty years after the creation of the Swiss interuniversity MD-PhD programme. The study surveyed 277 recipients of a Swiss National MD-PhD grant using an online questionnaire in April 2022. There were twenty questions about participants' demographics, the duration of their MD-PhD training, their career trajectory, current position, research and clinical activity, the impact of the support on the recipients' careers, and their satisfaction with various aspects of the grant. The study showed that 141 out of the 277 grant recipients contacted returned the survey (51% response rate). The gender distribution of the participants was 33% women, 63% men, 4% unknown, which is almost the same as that of all grantees (35% women, 65% men). One hundred and fourteen (81%) respondents had completed their MD-PhD thesis and were graduates, while 27 (19%) were still MD-PhD students. The mean duration of the MD-PhD training was 4.27 years, with a slight upward trend over time. A large proportion of graduates, 81%, remained scientifically active after the grant, most of them in academic settings. Of the grantees who had completed their MD-PhD at least eight years before the survey, 55% had a paid research position with 40% combining research and clinical roles, and 15% doing research only. Seventy-six per cent remained clinically active, 54% occupied leadership positions, and 25% were professors. Most grantees believed that the grant had had a positive impact on their career trajectory. The main challenges included a delay in clinical training, a limited number of clinical positions with dedicated research time after the MD-PhD period, and sub-optimal recognition by hospital hierarchies. The data collected for this study confirm that the competitive Swiss National MD-PhD Grants Programme excels in supporting promising physician scientists who remain active in both research and clinical contexts in the long term. The individual grants are perceived as a distinction that acts as the basis for a successful career in academic medicine. Continued support and alternative funding sources, however, will be essential to ensure the programme's sustainability.

A review of authorship in herpes simplex virus type-2 (HSV-2) research conducted in low-income and middle-income countries between 2000 and 2020

IntroductionEquitable inclusion of low-income and middle-income country (LMIC) researchers and women in research authorship is a priority. A review of progress in addressing WHO-identified priorities provided an opportunity to examine...

Using Interventional Pharmacoeconomic Clinical Trials and Outcomes-Based Contracts to Repurpose Generic Drugs with Cost-Savings

The inability to enforce a monopoly price over low-cost therapies, such as repurposed generic drugs by using patents for new medical uses, means that pharmaceutical companies are not interested to develop these potentially lifesaving therapies, even if clinical trials would be significantly cheaper. With the cost of new drugs increasing unsustainably, new financial models are needed that can incentivize the development of such low-cost therapies, by leveraging the cost-savings they generate for payors. For example, by conducting a trial comparing a low-cost generic drug to an expensive patented drug, the cost-savings from patients taking a low-cost therapy rather than an expensive drug during the trial itself can exceed the cost of running the clinical trial, which means it is “self-funding,” while also potentially improving patient outcomes due to better safety, efficacy, convenience, or accessibility. This is referred to as “interventional pharmacoeconomics” or a “revolving research fund” and allows the sponsorship of clinical trials that can be entirely funded by payors. “Prize-like” outcomes-based contracts or advance market commitments can also be combined with such self-funding trials to incentivize obtaining regulatory approval and solve the “last-mile” problem. Self-funding trials can provide significant cost-savings for payors without financial risk. This article illustrates a four-step process for conducting such self-funding trials and other ethical, commercial, political, and legal barriers that need to be overcome in order to scale this novel and practically unlimited source of funding for the development of low-cost therapies.

Determinants of Share Prices of Agriculture Listed Firms

The stock market plays an important role in economic development by promoting capital formation and enhancing economic growth. The stock market is among the main sources of financing in the critical sector of the economy. Trading of securities on the Zimbabwe stock exchange facilitates savers and users of capital by fund pooling, risk sharing and transferring wealth. One of the important sectors of the Zimbabwean economy devoid of adequate financing is the agricultural sector. This sector has been experiencing several challenges over the period 2002 -2022 mostly from lack of sustainable finance especially from private investment. It is assumed that lack of funding is due to volatility of stock prices. The objective of the study is to analyze different factors affecting share price of agriculture sector listed firm on the Zimbabwe Stock Exchange using the panel regression model. Based on the random effect the study established that share prices are determined by earnings per share, price earnings ratio and return on equity positively impacts stock prices in Zimbabwe. The government should control inflation to ensure price stability to aid in easy financial planning. Further the governments should promote agricultural growth initiatives and strategies which would stimulate demand for agricultural oriented stocks.

Publication Bias in Clinical Trials in Cataract Therapies: Implications for Evidence-Based Decision-Making: Publication Bias in Clinical Trials in Cataract Therapies.

Evidence-based decision-making is generally based on published evidence. Therefore, if the published evidence is biased, so will the decision-making. One possible bias is the "positive-results" publication bias. This study attempts to characterize this phenomenon in cataract therapy trials. Studies were categorized as "positive" if their results were congruent with the hypothesis and "negative" if not. Secondary outcomes included the influence of funding source and differences in publication metrics between "positive" and "negative" publications. The US NLM Clinical Trials database was reviewed for cataract trials, yielding 248 trials. Trials with less than 2 treatment arms, less than 5 participants, or insufficient reporting were excluded. Data was collected on intervention, treatment arms, funding type, publication rates, citation rate, and the impact factor/H-index of journals. Of the 132 trials included, there were 69 positive and 63 negative results. Publication rate for positive results (71%) was significantly greater than negative results (17%), (p<0.01), with no significant difference in the other publication metrics. In conclusion, "negative" result trials are published less frequently, but are equally valued, if published. There are implications for evidence-based medicine with these findings.

Implementation of the Rantang Kasih Program in Ensuring the Welfare of Poor Elderly Alone

The elderly are a vulnerable group who cannot carry out productive activities in their lives. Decreased physical condition, loss of social influence and function, and increased dependence on others, encourage the Elderly group as a target in social protection programs. Social protection serves as a guardian of the welfare of the elderly from poverty and hunger. The Rantang Kasih Program of Banyuwangi Regency is a food program for the elderly. This research aims to explain how the implementation of the Rantang Kasih policy/program in Pengatigan Village, Rogojampi District, Banyuwangi Regency. This research uses a qualitative method with a descriptive approach. It was carried out for one month (May) by involving village officials and program target communities as informants, and literature study activities. This research is measured by Merilee S. Grindle's policy implementation theory. The results showed that the implementation of the Rantang Kasih program in Pengatigan Village in the year used funding sources from the Pengatigan Village budget (APBDes). The amount/ration of rantang food is once a day, the food is made from stalls closest to the homes of the elderly program recipients, and delivered by village officials and / or stall managers. The implementation of the Rantang Kasih program in Pengatigan Village has been in accordance with the guidelines regulated through the Regent Regulation.

Biodiversity Offset Mechanisms and Compensation for Loss from Exceptional to Popular: Rediscovering Environmental Law

The use of compensatory mechanisms for biodiversity conservation, also known as biodiversity offsets, has increased significantly in recent decades. The Kunming Montreal Global Biodiversity Framework mentions them as an innovative scheme in support of substantially and progressively increasing the level of financial resources for biodiversity conservation. This article traces the origin of compensatory mechanisms in international environmental law and their development in transnational biodiversity governance. The article points to the shifts in the application of the biodiversity offsets: from the context of wetlands to other habitats and ecosystems; from its use in intergovernmental conventions to an increasing number of transnational (business) networks; and from an instrument of last resort to a source of additional funding for biodiversity conservation. In the evolution, compensatory mechanisms have been decoupled from their original purpose as an exceptional mitigation measure and a strong focus of environmental law on the preventive function. The increased rhetoric of commitment to no net loss, net gain, restoration, and the mitigation hierarchy has not been matched by an improved status of wetlands and other ecosystems. The processes within the biodiversity conventions (Ramsar and CBD) have accepted an ongoing destruction of nature and limited the role of environmental law to minimizing harmful impacts on nature and consolidating the decline, rather than shaping socio-ecological outcomes. An ambiguous position about the spread of compensatory mechanisms has been part and parcel of this; biodiversity conventions have neither endorsed nor distanced themselves from the application, promotion, and justification of compensatory mechanisms. To maintain the integrity of environmental law, the rules that prevent biodiversity loss need to be emphasised and enforced.

Reporting of Participant Race and Ethnicity in Cerebrovascular Randomized Controlled Trials

Randomized controlled trials (RCTs) provide information on appropriate management protocols in patients with cerebrovascular diseases. Despite growing evidence of race and ethnicity being independent predictors of outcomes, recent literature has drawn attention to inadequate reporting of these demographic profiles across RCTs. To our knowledge, the adherence to reporting race and/or ethnicity in cerebrovascular RCTs remains undescribed. Our study describes trends in the reporting of race and/or ethnicity across cerebrovascular RCTs. Web of Science was searched to identify the top 100-cited cerebrovascular RCTs. Additional articles were retrieved from guidelines issued by the American Heart Association (AHA) for the management of ischemic stroke, intracerebral hemorrhage (ICH) and aneurysmal subarachnoid hemorrhage (aSAH). Univariate and multivariate analyses were performed to assess for factors influencing reporting of race/ ethnicity. 65% of cerebrovascular RCTs lacked reporting of participant race and/ or ethnicity. Multivariate regression revealed that studies from North America had a 14.74- fold higher odds (95% CI: 4.574- 47.519] of reporting race/ ethnicity. Impact factor of the journal was associated with a 1.007-fold odds of reporting race/ ethnicity [95% CI: 1.000- 1.013]. Reporting of race and/or ethnicity did not increase with time, or vary according to the number of participating centers, median number of study participants, source of funding or category of RCT. Among RCTs that reported race, Blacks and Asians were underrepresented compared to Whites. 65% of prominent cerebrovascular RCTs lack adequate reporting of participant race/ ethnicity. Reasons for inadequate reporting of these variables remain unclear and warrant additional investigation.

Geographical Trends in Global Ophthalmology Research from 2002-2022

PurposeCharacterize geographical trends in ophthalmology research between 2002-2022 and explore associations between study locations, designs, and funding sources DesignTrend study MethodsAnalysis of 4199 publications from American Journal of Ophthalmology, British Journal of Ophthalmology, Investigative Ophthalmology and Visual Science, JAMA Ophthalmology, and Ophthalmology. All original full-length publications from 2002, 2012, and 2022 were included. Exclusion criteria were meta-analyses, literature reviews, and case reports. Main outcome measures were publication years, locations, study designs, and funding sources. ResultsPublications from North America (45.8%), Europe (30.7%), and Asia (28.9%) were the most common, whereas Africa (0.8%) and South America (1.4%) were least represented. North American research decreased by 10.6% (p < 0.001), whereas Asian research increased by 25.4% (p < 0.001). The USA contributed 42.3% of research but experienced a 11.3% decline from 2002-2022 (p < 0.001). USA publications received 5.8% more industry funding from 2002-2022 (p = 0.006). China's research grew by 17.0% and had the highest proportion of government (83.1%) or intramural (24.2%) funding (p < 0.001), with government-funded studies increasing by 46.7% (p < 0.001). Japan was less associated with all funding types (p ≤ 0.001). Singapore, Iceland, and Switzerland were top performers when adjusted for population size. ConclusionsWithin the examined journals, the USA remains the primary research contributor, with China witnessing rapid growth and Japan facing stagnation. Despite the USA's declining research proportion, North America and Europe continue to maintain a disproportionately high presence in prestigious academic journals. Publications from Africa and South America are limited.

Penguatan Permodalan Koperasi dengan Skema Crowdfunding pada Koperasi ISM Karya Sinar Bahari, Desa Tanggul Jaya, Kelurahan Banten, Kecamatan Kasemen, Kota Serang, Provinsi Banten

The ISM Karya Sinar Bahari Cooperative, located in Tanggul Jaya Village, Banten, faces significant challenges in accessing adequate capital to sustain its green mussel aquaculture operations. This community service project explores the implementation of crowdfunding as an innovative solution to strengthen the cooperative's capital base. Through this initiative, cooperative members received intensive training on crowdfunding-based capital management. The study identifies the potential of crowdfunding to enhance the cooperative's financial capacity and assesses its impact on improving member welfare and the success of the aquaculture business. The findings demonstrate that this scheme successfully engaged member participation and diversified the cooperative's funding sources.

Diversity, Equity, and Inclusion in Urolithiasis Clinical Trials: Representative Enrollment by Race, Ethnicity, and Sex.

We sought to assess whether participant enrollment is appropriately representative of the overall urolithiasis population in published urolithiasis clinical trials. PubMed was queried for urolithiasis US clinical trials published from 2000 to 2022. Trials were evaluated for reporting patient race/ethnicity and sex data. These were then compared to the stone prevalence reported by the National Health and Nutrition Examination Survey from 2015 to 2018. We calculated a representation quotient (RQ) to describe enrollment of patients and then stratified by geographic location, study type, and funding source. Of the 180 urolithiasis trials performed in the US, we identified 40 trials (22%) reporting race or ethnicity and 104 trials (58%) reporting sex. Male and female participants are well represented (RQ 0.97 and 1.02, respectively). Overall, the RQ of Black, Asian American and Pacific Islander, White, Hispanic, and mixed/other participants is 1.84, 1.06, 1.04, 0.46, and 0.34, respectively. Trials completed in the Western Section and multi-institutional trials have the most proportional enrollment, while trials in the South Central and Southeastern Sections have underrepresentation of mixed/other and Hispanic patients. Enrollment was similar among all trial subtypes. Government- and industry-funded trials had more diverse enrollment than academic-funded trials. Only 1 in 4 published US urolithiasis trials report race or ethnicity enrollment. Mixed race and Hispanic participants are consistently underrepresented, while Black participants are overrepresented. Government- and industry-sponsored multi-institutional trials have the most proportional representation. Investigators should prioritize inclusive recruitment and improve reporting practices to accurately reflect the diversity of the urolithiasis population.

GLOBAL STRUCTURE AND OPERATING STATUS OF SOCIAL STOCK EXCHANGES - COMPARATIVE ANALYSIS

Social Stock Exchanges provide a forum for several financing sources, including CSR, philanthropy, and impact investing, to work together and support nonprofit organisations with a social objective. A social stock exchange acts as a meeting place for social organisations and investors with shared values and interests. Several countries, notably the United Kingdom, Brazil's Socio-Environmental Impact Exchange, and Jamaica, Canada, and Singapore, already have active social stock exchanges. It is at the development stage in India, and SEBI, the regulatory body, has acted swiftly to address the situation by establishing working groups and technical groups to investigate and examine the situation and provide appropriate recommendations. The primary purpose of this article is to use a descriptive study approach to examine the functioning of various SSEs across the globe. So, The Indian Social Stock Exchange may benefit from suggestions made in light of knowledge of the activities of other SSEs around the world. KEYWORDS: Impact Investing, Social Stock Exchange, Social Enterprises, Non-Profit Organisations

The role of gold in terrorism: Risk aversion or financing source?

Based on the perspective of terrorism, this study uses a bootstrap full-sample causality test and sub-sample rolling window estimations to explore the risk aversion capability and terrorist financing capability of gold's time-varying dimension. The results suggest that terrorist incidents (defined by the number of terrorist attacks) and terrorist brutality (measured by the number of fatalities produced by terrorist attacks) are important factors in explaining changes in gold prices, but their effects differ. With extensive media coverage, the cause of investors' panic has changed from terrorist incidents to terrorist brutality. The results from some sub-sample periods support the capital asset pricing model by showing that terrorist attacks push up gold prices through a “terror premium.” Considering reverse causality, gold price can be used as an early warning of terrorist attacks, but its terrorist financing function is not yet proven. In the context of increasingly serious terrorism, studying the interaction mechanism between terrorist attacks and gold prices can help investors reasonably plan investments and provide insights for the government on combatting terrorism and maintaining world peace.

Creditors’ Role in Shaping Asymmetric Cost Behavior: Evidence from Debt Covenant Violation

ABSTRACT This study uses covenant violations as a quasi-natural experimental setting to examine creditors’ roles in shaping corporate cost behavior. Using a regression discontinuity design, I find that cost stickiness experiences a sharp decline following debt covenant violations when control rights are transferred to creditors. The cost stickiness effect is more substantial for borrowers with lower credit ratings and when creditors possess greater bargaining power. The effect is also more pronounced during industry downturns when borrowers have fewer alternative sources of finance. Results are consistent when I use alternative measures of cost stickiness and alternative research designs. Overall, my evidence indicates that creditors play a monitoring role in firms’ cost behaviors and identifies a specific channel (loan covenants) through which the misalignment of incentives can impact cost asymmetry. JEL Classifications: D24; G32; M41.

North American Cancer Center Clinical Research Capacity and Benchmarking in the Postpandemic Era.

Cancer center clinical trial offices (CCTOs) support trial development, activation, conduct, regulatory adherence, data integrity, and compliance. In 2018, the Association of American Cancer Institutes (AACI) Clinical Research Innovation (CRI) Steering Committee conducted and published survey results to benchmark North American CCTOs, including trial volume, accrual, full time equivalents (FTEs), and budget. The survey was readministered in 2023 to assess contemporary CCTO performance and capacity with results presented here. The 28 question 2023 survey was sent to directors of AACI's clinical member cancer centers. Survey participation was voluntary, no compensation was provided, and data requested covered operations during 2022. Definitions were consistent with National Cancer Institute (NCI) CCTO reporting requirements and AACI staff anonymously compiled results for descriptive statistical reporting. The survey response rate was 61% (60/99). The median annual CCTO budget was $11.5 million (M) US dollars (USD) versus $8.2M USD in 2018. These budgets support a median of 150 FTEs versus 104 previously, and a median total of 384 versus 280 interventional treatment trials and a median of 479 versus 531 interventional treatment accruals. Sources of support for CCTO annual budgets were primarily from industry revenue (45.3%) or institutional support (31.7%). Nearly 60% of centers reported activating NCI-sponsored studies within 90 days but only 9% reported meeting a 90-day activation timeline for industry sponsored studies. Contemporary benchmarks for CCTO operations through this survey demonstrate larger staff sizes, larger budgets, more trials supported, but fewer patients enrolled to interventional treatment trials in comparison with 2018. These data shine a critical light on the increasing complexity of cancer clinical trials, the importance of external funding sources, and necessary operational efficiency upgrades to provide cutting-edge cancer research and care.

Missouri

This article is a brief summary and update of the public school funding in the state of Missouri for FY2023. The state of Missouri funds education through a foundation model. The largest funding item in the Missouri general budget is K-12 education. In 2018, the state budget fully funded the formula for the first time. The funding formula is multifaceted, including the following four components: weighted average daily attendance, state adequacy target, dollar-value modifier, and local effort. These four items are used to calculate the total state funding for K-12 education. Missouri ranks 32nd in the nation in K-12 student spending when combining local, state, and federal funding sources.