Funding Source Research Articles

Factors Affecting the Adoption of Crowdfunding as a Source of Funding Among SMEs in Colombo Region in Sri Lanka

Small and medium enterprises (SMEs) are regarded as the backbone of economies, whether it is just for a single state or country or if considered for the globe as a whole. There are many challenges that SMEs face one of which is the financial aspect such as insufficient access to financial resources and investment capital can be a significant barrier to the growth of these SMEs. There is a suitable new way funding for this problem that is emerging in the modern world known as crowd-funding. This method mostly involves using the internet to collect money in small and medium amounts from several individuals thereby collecting the needed capital. Therefore, this study focuses on the factors affecting adoption of crowdfunding as a source of funding among SMEs in Colombo region.

Unveiling the impact of remittances on productive efficiencies: investigating productivity growth of prominent remittance-receiving developing nations

PurposeThe present study reviews the theoretical and empirical literature about the significance of international migrants' remittance to empirically analyse the effect of remittance on the productivity growth of developing countries using a panel dataset from 1991 to 2021.Design/methodology/approachThe study utilised the data envelopment analysis (DEA)-based Malmquist Productivity Index (MPI) to measure nationwide production efficiencies. It first performed a unit root test, cointegration test and pool mean group autoregressive distributed lag (PMG-ARDL) technique. To assess the robustness of the findings, the study also uses dynamic ordinary least squares (DOLS) and fully modified OLS (FMOLS) estimators.FindingsThe results demonstrated that remittances are a significant source of funding that promotes innovation [i.e. technological progress (TEC)] and hastens the country's total factor productivity (TFP) growth. However, the study needed to have established the effect of inward remittances on the nation's technical efficiency (EFF).Research limitations/implicationsAs remittances encourage innovation and TFP growth (TFPG), the concerned governments must create favourable and enabling economic environments to increase remittance inflows, which will have far-reaching growth repercussions.Originality/valueThe present study emphasises the connection between remittances and productivity growth, the disintegration of TFP, advanced econometric techniques and contribution to research policy. Despite prior literature exploring the effect of remittances on economic growth, a dearth of literature exists on how remittances affect a country's productivity. The output-based MPI methodology used in this study offered a nuanced understanding of how remittances affect many facets of productivity growth in developing nations.

Can we define global collective action problems away?

AbstractThe adoption of the Sustainable Development Goals has rejuvenated an old debate: Can foreign aid be used to finance global public goods (GPGs)? There are those who see aid exclusively as a source of development funding for poor countries. And there are others who are open to answering the question in the affirmative. I put forward five arguments why the latter position is reasonable. Firstly, the formal definition of official development assistance (ODA) cannot be said to exclude its use in financing GPGs as these goods by definition benefit developing countries. Secondly, the amount of ODA provided has never been the gold standard of rich country effort envisaged by some. In particular, the level is boosted by the self‐interests of donors. Thirdly, there is ample precedent for following the benefit principle when it comes to multilateral organisations, which are often seen as GPGs. Fourthly, distinguishing between national public goods and GPGs is not always straightforward as the former are in many cases inputs into the production of the latter, and in such cases, the dividing line between ‘traditional aid’ and ‘funding for GPGs’ is blurred. Finally, it is not obvious in practice that aid as country finance always generates greater welfare gains for developing countries than the provision of GPGs. In sum, being overly normative with respect to what ODA is distracts us from the real problem, namely, that collective action problems result in too little spending on all international public goods, including poverty alleviation in poor countries.

Operations, financing and performance of paraguayan MSMEs in times of crisis: an analysis in the context of the Covid-19 pandemic

In addition to the health impact, as well as the impact on the economic aspects and everything related to sales and jobs, the Covid-19 pandemic has had a major influence on the operational aspects of businesses, largely due to issues related to access to financing, which resulted in variations in overall business performance. The objective of this research was to analyze how the pandemic impacted the operations and access to finance of MSMEs and its influence on their performance. For this study, the case of Paraguayan MSMEs was taken, and a total of 360 managers and/or owners of this type of companies, belonging to the industrial, commercial and service sectors, participated in the study. The quantitative method was used through the application of a digital survey sent via email and messaging networks, during the first half of 2021. Quantitative data analysis was performed by applying tests such as Pearson's Chi-square and analysis of variance. The most relevant results (on a rating scale from 1 to 5) related to operations, indicate that companies were forced to modify their product and service offerings (3.47), in addition to lowering sales prices (3.31) and implementing other adaptation activities (3.21). Regarding access to financing, it was observed that 40.3% of the MSMEs participating in the study that have requested financing obtained it under the same conditions as the previous year, while 19.9% indicated that they obtained financing, but under worse conditions, and 36.4% have not been able to access credit. With regard to performance, significant differences were found among the MSMEs, taking into account the sector to which they belong. Differences in performance were observed among those offering higher quality products (industrial sector with 3.81), those with more efficient internal processes (services sector with 3.55), and those with more satisfied clients (industrial sector with 3.96). The results indicate that Paraguayan MSMEs were able to adapt and keep their businesses operating with a certain level of success during the crisis, despite the fact that many of them were unable to access sources of financing or did so under unfavorable conditions.

TANTANGAN DINAMIKA REGULASI SEKOLAH BERTARAF INTERNASIONAL DI INDONESIA

The dynamic regulatory landscape presents significant challenges for International Standard Schools (SBI) in Indonesia, impacting their ability to meet global educational standards while integrating local cultural values. This study aims to explore the regulatory challenges faced by SBIs and their implications for educational quality and cultural integration. The method used is library research, which involves reviewing relevant literature and studies on regulations and the implementation of international standard programs. The findings reveal that although SBIs strive to provide high-quality education and facilities in line with international standards, they are often hindered by fluctuating regulations and inadequate financial support. Additionally, the study highlights the importance of a consistent and supportive regulatory framework, sustainable funding sources, and the adoption of an inclusive curriculum that respects local cultural values. These insights offer valuable implications for policymakers, educational institutions, and stakeholders, emphasizing the need for collaborative efforts to enhance the stability and effectiveness of SBIs in Indonesia. By addressing these challenges, SBIs can better fulfill their role in providing internationally competitive education while preserving Indonesia’s rich cultural heritage.

Sustainability of lending diversification of sub-Saharan African low-income countries

The momentum in sub-Saharan low-income countries is leading to diversifying their funding sources to cover large infrastructure expenditures. This situation meets the expectations of international investors who are still willing to explore new opportunities. Recent access to the Eurobond market by these new players has resulted in the growing substitution of traditional concessional loans by market ones in countries with low-debt portfolios. Thus, a new sustainability approach is required to include risk premiums and potentially versatile investor behaviors. First, we use a theoretical model to show that in a context of low international interest rates, debtor countries can continue to stabilize their level of debt either through budget deficit, if it remains below a given sustainability threshold, or through budget surplus in a downturn context (high-interest rates and spreads). Second, the versatile behavior of investors could be challenging. Third, global liquidity greatly influences the debt dynamics of SSA countries so it matters more for bond spreads than domestic factors. As our empirical study shows that the current debt situation of sub-Saharan African low-income countries increasingly involved in the Eurobond market remains under control. To avoid the worst-case scenario, strong institutions should be a priority, along with appropriate management tools and methods of debt monitoring to cope with all potential vulnerability caused by undesirable side effects of such unstable behaviors.

Role of TOMM34 on NF-κB activation-related hyperinflammation in severely ill patients with COVID-19 and influenza

Highly pathogenic respiratory RNA viruses such as SARS-CoV-2 and its associated syndrome COVID-19 pose a tremendous threat to the global public health. Innate immune responses to SARS-CoV-2 depend mainly upon the NF-κB-mediated inflammation. Identifying unknown host factors driving the NF-κB activation and inflammation is crucial for the development of immune intervention strategies. Published single-cell RNA sequencing (scRNA-seq) data was used to analyze the differential transcriptome profiles of bronchoalveolar lavage (BAL) cells between healthy individuals (n=27) and patients with severe COVID-19 (n=21), as well as the differential transcriptome profiles of peripheral blood mononuclear cells (PBMCs) between healthy individuals (n=22) and severely ill patients with COVID-19 (n=45) or influenza (n=16). Loss-of-function and gain-of-function assays were performed in diverse viruses-infected cells and male mice models to identify the role of TOMM34 in antiviral innate immunity. TOMM34, together with a list of genes encoding pro-inflammatory cytokines and antiviral immune proteins, was transcriptionally upregulated in circulating monocytes, lung epithelium and innate immune cells from individuals with severe COVID-19 or influenza. Deficiency of TOMM34/Tomm34 significantly impaired the type I interferon responses and NF-κB-mediated inflammation in various human/murine cell lines, murine bone marrow-derived macrophages (BMDMs) and invivo. Mechanistically, TOMM34 recruits TRAF6 to facilitate the K63-linked polyubiquitination of NEMO upon viral infection, thus promoting the downstream NF-κB activation. In this study, viral induction of TOMM34 is positively correlated with the hyperinflammation in severely ill patients with COVID-19 and influenza. Our findings also highlight the physiological role of TOMM34 in the innate antiviral signallings. A full list of funding sources can be found in the acknowledgements section.

HIV-1-DNA/RNA and immunometabolism in monocytes: contribution to the chronic immune activation and inflammation in people with HIV-1

Among people living with HIV-1 (PHIV), immunological non-responders (INR) experience incomplete immune recovery despite suppressive antiretroviral treatment (ART), facing more severe non-AIDS events than immunological responders (IR) due to higher chronic immune activation and inflammation (cIA/I). We analyzed the HIV-1 reservoir and immunometabolism in monocytes as a source of cIA/I. Cross-sectional study in which 110 participants were enrolled: 25 treatment-naïve; 35 INR; 40 IR; and 10 healthy controls. Cell-associated HIV-1-DNA (HIV-DNA) and -RNA (HIV-RNA) were measured in FACS-isolated monocytes using digital droplet PCR. Intact, 5' deleted, and 3' deleted proviruses were quantified by the intact proviral DNA assay. Systemic inflammation, monocyte immunophenotype, and immunometabolism were characterized by immunoassays, flow cytometry, and real-time cellular bioenergetics measurements, respectively. Monocytes from INR harbor higher HIV-RNA and HIV-DNA levels than IR. HIV-RNA was found in 14/21 treatment-naïve [2512 copies/106 TBP (331-4666)], 17/33 INR [240 (148-589)], and 15/28 IR [144 (15-309)], correlating directly with sCD163, IP-10, GLUT1high cells and glucose uptake, and inversely with the CD4+/CD8+ ratio. HIV-DNA was identified in all participants with detectable HIV-RNA, with intact provirus in 9/12 treatment-naïve [13 copies/106 monocytes (7-44)], 8/14 INR [46 (18-67)], and 9/13 IR [9 (7-24)]. INR presented glucose metabolism alterations and mitochondrial impairment; decreased coupling efficiency and BHI, and increased mitochondrial dysfunction inversely correlating with the CD4+/CD8+ ratio. HIV-RNA, more than HIV-DNA, in monocytes and their altered metabolism are factors associated with the higher cIA/I that characterize INR. This work was supported by the European Regional Development Fund, ISCIII, grant PI20/01646. Other funding sources:Instituto de Salud Carlos III through the Subprogram Miguel Servet (CP19/00159) to AGV, PFIS contracts (FI19/00304) to EMM, (FI21/00165) to ASA, and (FI19/00083) to CGC, and a mobility grant (MV21/00103) to EMM, from the Ministerio de Ciencia e Innovación, Spain. AJM was granted by a CSL Centenary Award.

The AISP Network of cross-sector data linkage efforts: Results & lessons from a national survey of 40 state and local systems in the US

Objectives and ApproachThis session will share findings from a national survey of 40 state and local cross-sector data linkage efforts using data to impact policy and outcomes across the United States (US). The survey, conducted in February 2023 by Actionable Intelligence for Social Policy (AISP) at the University of Pennsylvania, captured each effort’s purpose(s) for sharing data (the “why”), approach to linkage (the “how”), and the data sources being integrated (the “what”). Respondents are all current or prospective members of the AISP network, representing a cross-section of systems at different stages of development and engaged in peer exchange. ResultsThe presentation will share results that describe the core purposes of system development and how systems operate; this includes governance structures to institutionalize sharing relationships; staffing, funding sources, and operating budgets; legal frameworks; and technical infrastructure. The presentation will also explore what data systems share, and the role a peer-led community of practice plays in developing and honing approaches to public sector data use. ConclusionsNetwork members have demonstrated widespread impact in their communities. In the last two years, respondents collectively reported that their integrated data enabled 365 reports and briefings for policymakers to affect policy change and 160 research articles to advance knowledge for impact. They also widely reported improved relationships and trust across agencies and improved ability to evaluate what works. ImplicationsThis presentation showcases the impact of the US community of practice in supporting diverse models for impact-oriented data systems.

Early-stage implementation of peer-led interventions for emergency department patients with substance use disorder: Findings from a formative qualitative evaluation

IntroductionEmergency department (ED)-based peer recovery coach (PRC) programs can improve access to substance use disorder treatment (SUD) for ED patients. As literature on early stages of PRC implementation is limited, we conducted a qualitative assessment of ED PRC program implementation from several US-based PRC programs focusing on barriers and facilitators for implementation and providing recommendations based on the findings. MethodsWe collected qualitative data from 39 key informants (peer recovery coaches, PRC program managers, ED physicians and staff, representatives of community-based organizations) via 6 focus groups and 21 interviews in February–December 2023. We transcribed audio-recordings and analyzed data using codebook thematic analysis. ResultsWe identified the following major themes related to specific barriers and recommendations to address them. To facilitate timely linkage to PRCs, programs would regularly inform ED staff about the program and its linkage procedures, establish trust between PRC and ED staff, streamline the linkage procedures, and choose an “opt-out” linkage approach. To address barriers related to external referrals, programs use “warm handoff” and “warm line” strategies, maintain and update a comprehensive catalog of resources, and familiarize peer coaches with local service providers. Telehealth services implementation requires addressing logistical barriers, ensuring patients' privacy, and training peer coaches on building trust and rapport online. Peer coaches' wellness and quality of services can be improved by limiting PRC's workload, prioritizing quality over quantity, facilitating self-, peer- and professional care to mitigate stress and burnout; and, importantly, by providing supportive supervision and training to peer coaches and advocating for PRC team as an equal partner in the ED settings. To facilitate PRC program adoption and sustainment program managers engage local communities and program champions, seek diverse sources of funding, and advocate for structural changes to accommodate recruitment and retention of peer recovery coaches. ConclusionsWe compiled a wealth of best practices used by PRC programs to address numerous implementation barriers and challenges. These recommendations are intended for PRC program planners, managers and champions, hospital leadership, and state and local public health agencies leading SUD epidemic response.

Stranded Asset Risk in the Bond Market

Asset stranding involves permanently shutting down productive but harmful facilities that impose negative externalities on society. Because bonds are a major source of funding for corporations, investors such as pension funds and insurance companies seeking to reduce their exposure to asset stranding have the potential to limit the supply of capital to polluting firms by divesting their holdings of the polluting firms’ bonds. We examine the implications of stranded asset risk for polluting firms regulated under the Clean Air Act (CAA). Polluting facilities located in counties in violation of the CAA are required to comply with the act’s provisions regardless of cost, leading to a contraction in capital for companies with facilities located in affected counties. More broadly, this study contributes to our understanding of whether and how pollution externalities affect private-sector capital supply to polluting firms.

Using Porter's Strategic Model to Promote Sustainable Marketing In Light Of Behavioral Finance (An Analytical Study Of A Sample Of Small And Medium Enterprises In Najaf Governorate)

This paper determines the suitability of companies' activities that can contribute to enhancing their performance and achieving a large market share, especially in the field of diversifying funding sources. The purpose of this paper was to idintify the impact of Porter's five forces on enhancing sustainable marketing for the research sample companies. The paper was designed in light of adopting the descriptive analytical approach for the research variables and collecting data and information through the questionnaire tool distributed to the research sample companies. And using statistical analysis to reach the results, the study sample amounted to (21) companies operating in the field of tourism and travel. The results of the paper showed that there is a threat from new entrants in the tourism industry due to the presence of many competing companies. Companies had to develop a strategy on how to attract and retain customers to avoid switching from one company to another by using Porter's model to promote sustainable marketing and using behavioral financing sources. which is reflected in their competitive position due to the presence of different companies.

Getting Down to Business: Governing the Hybridization of UK Charities

AbstractCharity organizations are important to solving complex social and environmental issues that are beyond the reach of government and commercial organizations. However, these organizations are under increasing pressure for survival due to a sharp decrease in their traditional sources of funding. This study examines how leaders of charity organizations can improve the financial security and impact of their organization by adopting commercial structures into their organization, and therefore undergoing a process of hybridization. We conducted a multiple comparative case study of 18 UK charities comparing how they engaged with emerging social finance funding opportunities that required them to adopt commercial structures which lay outside their dominant logic of action. We identified several aspects that influenced the likelihood of a charity organization to engage with this opportunity and, therefore, strategically hybridize. These included whether a charity executive had sufficient socialization in both the social and commercial logics to view social finance as a strategic opportunity and whether the organization could alter the role expectations of trustees with a commercial background to enable them to actively use both logics rather than compartmentalizing them in their decision‐making. Our findings have important implications for research streams on hybridization and hybrid governance.

The Factors Affecting Foreign Direct Investment Intentions of Investors: A Case of Malaysia

Foreign direct investments (FDI) are regarded as one of the most important sources of external financing for all countries in this globalisation era. In recent years, Malaysia has only been successful in attracting a small number of foreign investors. As a result, the primary goal of this paper is to examine the factors that have attracted FDI into Malaysia from 1990 to 2020. The study investigates the relationships between FDI and the proposed explanatory variables, namely market size (GDP), trade openness (OPN), inflation rate (INF), and infrastructure (INFRA). Multiple Linear Regression (OLS) is used to examine the relationships between the variables. The Variance Inflation Factor and the Breusch Pagan Godfrey test are also analysed to discover the data collected from the World Bank Data. Findings indicate GDP and INF have a significant impact on FDI. This study has not brought any evidence of INFRA and OPN influencing FDI inflows in Malaysia. Understanding these factors is crucial for policymakers and investors to promote sustainable economic growth and attract foreign investments

HPC Ecosystem and Competences in Bulgaria

In short, the current status of the HPC ecosystem in Bulgaria includes diverse modern hardware (including two supercomputers from the TOP500 list – Discoverer and HEMUS, as well as multiple HPC clusters), and extensive expertise in HPC and the adjacent fields. The competencies and expertise were acquired during a multitude of successful EU projects, as well as leadership and participation in high-profile national programmes and projects with industry/SMEs. Experience in negotiating and managing contracts with different sources of funding and for the use of both equipment and expertise has been gathered. In this paper, we discuss the new developments in the HPC Ecosystem, supported by the acquisition of the HEMUS supercomputer in 2023, as well as our design choices and optimization approaches.

Blurring the Lines Between Public and Nonprofit Sectors: Local Efforts to Create Inclusive Communities

Local governments and nonprofits share the common goal of enhancing local community well-being, despite variations in funding sources, governance structure, and authority. Their joint efforts in responding to increasing immigrant concerns shed light on their motivations to address emerging challenges. Through interviews, original surveys, and secondary datasets, this study unveils that both sectors respond to rising foreign-born populations, shifting local racial demographics, and an aging populace. While political context significantly shapes local government actions, nonprofits are propelled by grant opportunities. These findings underscore sector commonalities and disparities and how the two sectors can continue to work together or independently to address community issues.

Default Risk, Risk Premium, and Corporate Resilience: The Role of Regulatory and Stabilization Policies

This study investigates the interaction between monetary and macroprudential policy measures and evaluates whether policymakers should address financial disruptions. To achieve this goal, we developed a dynamic stochastic general equilibrium model that incorporates frictions in financial markets and financial shocks alongside traditional macroeconomic shocks. One of the main focuses of macroprudential policies is to stabilize credit cycles. We used Moroccan data to estimate the model and assess various policy actions to counter imbalances in financial markets, including adjustments to the interest rate tool. Our findings highlight the benefits of addressing financial disruptions, the extent depending on the shock characteristics. While acting on interest rates in response to financial variables may stabilize some economic factors, it has the potential to increase the volatility of others substantially. The results confirm that the use of optimal regimes can reduce default processes and ensure companies stabilize risk premiums. Implementing such regulations leads to greater opening of the companies’ capital to external financing sources. JEL Classification C11, D53, D58, E52, E58

Effects of the Disbursement of EU Cohesion Policy 2014–2020 Funds on Improving the Energy Efficiency of Buildings in Poland and Germany

Improving the energy efficiency of buildings (IEEBs) is crucial to achieving the European Union’s ambitious climate and energy goals. To channel these efforts, new policies, legislation, sources of funding, mechanisms for distributing funds, programs, and support tools are being introduced. The purpose of this study is to demonstrate the effects of the disbursement of EU Cohesion Policy 2014–2020 funds on IEEBs in Poland and Germany, filling the research gap regarding the regional differentiation of investments, beneficiaries, and the spatial distribution of subsidies and projects. An analysis was made of 7818 projects on IEEBs implemented under regional operational programs from European Regional Development Funds under Thematic Objective 4. This research was conducted for two main variables: (1) beneficiaries (8 categories) and (2) investments (8 categories). Based on this division, using a cluster analysis through the use of Ward’s agglomerative hierarchical clustering method, groupings were made in relation to beneficiaries (6 groups) and investments (6 group). The results allowed us to identify regional differences and similarities in the approach to the disbursement of funds on IEEBs, to indicate the main beneficiaries, to highlight trends in this regard, to demonstrate the impact of changes in territorial affiliation on investment targeting, and, furthermore, to capture the variation in the sophistication of the implementation of EU IEEB-related policies and legislation. The results provide a well-documented voice in the discussion of the effects of distributing EU funds for IEEBs in the regions of Poland and Germany and provide a basis for further comparative research.

Development and benefit of FDI in India

Foreign direct investment (FDI) is a key source of funds for India's economic development. Totake advantage of India's evolving economic climate and lower labour, foreign firms engage directly in fastgrowingprivate Indian enterprises. There are so many advantages of Foreign Direct Investments in Indialike Promotion of investment in key areas, New technologies, Increase in Capital inflow, Increase inExports, Promotion of Employment opportunities, Promotion of financial services, Exchange ratestability and development of backward areas. Foreign Direct Investment (FDI) is critical to a country'seconomic development. The entry of foreign cash has allowed India to improve its infrastructure,increase productivity, and increase employment. FDI also serves as a vehicle for acquiring sophisticatedtechnology and mobilizing foreign exchange reserves. This Article is an attempt to explore new benefitsof FDI for the economic growth of the nation.

Pathways to success: a machine learning approach to predicting investor dynamics in equity and lending crowdfunding campaigns

AbstractCrowdfunding has evolved into a formidable mechanism for collective financing, challenging traditional funding sources such as bank loans, venture capital, and private equity with its global reach and versatile applications across various sectors. This paper explores the complex dynamics of crowdfunding platforms, particularly focusing on investor behaviour and investment patterns within equity and lending campaigns in Italy. By leveraging advanced machine learning techniques, including XGBoost and LSTM networks, we develop predictive models that dynamically analyze real-time and historical data to accurately forecast the success or failure of crowdfunding campaigns. To address the existing gaps in crowdfunding analysis tools, we introduce two novel datasets—one for equity crowdfunding and another for lending. Moreover, our approach extends beyond traditional binary success metrics, proposing novel measures. The insights gained from this study could support crowdfunding strategies, significantly improving project selection and promotional tactics on platforms. By enhancing decision-making processes and providing forward-looking guidance to investors, our computational model aims to empower both campaign creators and platform administrators, ultimately improving the overall efficacy and sustainability of crowdfunding as a financing tool.