Third-party Funding Research Articles

Third-Party Funding in Chile: A Regulatory Proposal

In the last decade, Third-Party Funding has shown a steep rise and has become a consolidated method of providing financial support to pursue a claim. Each country where Third-Party Funding is developing has dealt with this rise in its own way, based on its legal tradition, public policy objectives, and the convenience of letting a new market grow. This article analyses the paths followed by the countries where Third-Party Funding is more developed and proposes a regulatory path for Chile, which takes into consideration the Chilean legal and economic reality and proposes to apply the measures that, in the opinion of the author, have been successful in other jurisdictions.

COMPARISON OF ISLAMIC BANK PERFORMANCE AND CONVENTIONAL BANK PERFORMANCE IN PROVINCE WITH MUSLIM MAJORITY AND PROVINCE WITH NONMUSLIM MAJORITY POPULATION IN INDONESIA

This study aims to examine the universality of Islamic banking services and products and conventional banks in Indonesia to test whether all circles both Muslims and non-Muslims can accept the services and products of Islamic banks and conventional banks. The method used using MANOVA ( Multivariate Analysis of Variance ) test by comparing the performance of Islamic banks and conventional banks represented by several indicators like third party fund and financing or lending in some provinces in Indonesia. There are two categories of provinces, namely the first category is the province of the province with the majority Muslim population and the second is the provincial category of provinces with non-Muslim majority population in Indonesia. There is no significant difference in the performance of third-party funding of Conventional Commercial and Islamic Banking in Provinces with Majority of Moslems and Non-Muslim Majority Provinces. There is no significant difference in the performance of credit distribution of Conventional Commercial Banking and Islamic Comercial Banking in Provinces with Majority of Moslems and Non-Muslim Majority Provinces.

Abstract IA01: Pediatric neuro-oncology: What’s next?

Abstract Based on recent discoveries and data integration in genomics and epigenomics, a lot more is known about the biology of childhood brain tumors today when compared to a decade ago. This has vastly benefitted brain tumor diagnostics, including classification and some predictive and prognostic biomarkers. Yet the gap between this newly defined diagnostic gold standard and routine clinical implementation largely remains to be bridged. Additionally, the cell of origin for a majority of brain tumor entities remains elusive. The increased granularity of understanding intertumor heterogeneity also comes with the challenge of accounting for this heterogeneity in our therapeutic approaches. Ever-smaller patient groups and, on the other hand, an ever-increasing portfolio of potentially available drugs, require a paradigm shift in how we run and evaluate preclinical and clinical trials. Academically rewarding proof-of-concept studies that are typically well published, which certainly have a different purpose and thus lack the rigor of thorough preclinical filtering (because they typically embark on one or two “representative” models, which certainly does not cover the heterogeneity of a disease by any means), should no longer be regarded “sufficient preclinical evidence” to justify a clinical trial. Thus, novel incentives and funding models for this “less academically attractive,” but highly patient-relevant studies need to be explored. Phase I trials just with the purpose of dose finding should not be carried without a path forward into efficacy testing. Drugs with no evidence for brain penetration should not “just” be tried in patients with brain tumors without even making the best effort to understand brain and tumor penetrance. Academic work-up of biologic material from every single patient being enrolled on a trial should be mandatory rather than “nice to have.” Hereditary cancer predisposition should no longer be ignored when it comes to treatment stratification. Reimbursement models for “next-generation diagnostics,” preclinical phase I and phase II studies, and academic clinical trials (focusing on combinations rather than monotherapies in end-stage disease) have to shift from traditional third-party funding to alternative funding models. If we do not manage to address this paradigm shift, high-risk brain tumor patients may still mostly die from their disease 10 years from now. Citation Format: Stefan M. Pfister. Pediatric neuro-oncology: What’s next? [abstract]. In: Proceedings of the AACR Special Conference on the Advances in Pediatric Cancer Research; 2019 Sep 17-20; Montreal, QC, Canada. Philadelphia (PA): AACR; Cancer Res 2020;80(14 Suppl):Abstract nr IA01.

Excessive Costs and Recoverability of Costs Awards in Investment Arbitration

Abstract In the era of the backlash against investor-State dispute settlement, the costs of proceedings have been a prime object of criticism. This article examines the problem of excessive costs and insufficient recoverability of costs awards. Firstly, it examines the issue of excessive costs in relation to both party costs (fees and expenses of counsel, experts, and witnesses) and tribunal costs (fees and expenses of arbitrators and arbitral institutions). Secondly, it discusses the impact of the length of proceedings on costs. Thirdly, it discusses the contribution of third-party funding to excessive costs. Finally, it analyses the issue of insufficient recoverability of costs awards and the availability of mechanisms to secure prompt payment of costs awards where there are insufficient resources or an unwillingness to pay. In examining each of these concerns, this article assesses the potential contribution of four different models for reform of investment arbitration.

Third-Party Funding in International Arbitration: Ownership of the Claim, Consequences for Costs Orders, and Regulation

Abstract The increasing use of third-party funding in international arbitration has given rise to a myriad of challenges. Many of these remain unaddressed. Even though some jurisdictions have sought to regulate the sphere of third-party funding in international arbitration, it remains largely unregulated. The result is that a third-party funder is not held accountable. This article examines the issue of ownership of a funded international arbitration claim, and the consequences of that finding on an arbitral tribunal’s ability to impose costs order on a funder. The objective is to ensure that a funder is playing a role in the arbitral process merely to facilitate access to justice, and nothing more. The examination in this article comprises a review of case law, primarily of English courts, in the context of litigation funding, and then determining whether it is possible to transpose the learnings therefrom to the arbitration context. A brief discussion on the applicability of the doctrine of res judicata, in the context of the issues raised in this article, is undertaken. Finally, the article also considers the best way to regulate the specific question of imposing costs on a third-party funder in international arbitration.

Banking on courts: financialization and the rise of third-party funding in investment arbitration

In this paper, we explore the drivers of the rise of third-party funding (TPF) in investor-state arbitration. TPF involves financiers shouldering the legal fees of an investment treaty claim against a sovereign state in exchange for a share of any eventual award. Existing research has highlighted how TPF may exacerbate the inequities inherent to a legal regime that is already weighted in favor of private interests by increasing investors’ access to funding of their legal claims, but the factors which gave rise to TPF are little understood. We argue that financialization helps to explain both the spread and the characteristics of TPF. In particular, the evidence presented in this paper suggests that the large supply of investable capital that is searching for profitable investment opportunities helps to account for the rise of TPF. The analysis provides the basis for broader propositions and a research agenda about the ways in which financialization alters the logics of an international legal regime and aligns the interests of different private agents, both of which may change the public-private balance in investor-state arbitration and affect its legitimacy.

PENGARUH KONSENTRASI STRUKTUR PASAR TERHADAP KINERJA INDUSTRI KOMERSIAL PERBANKAN DI INDONESIA PERIODE TAHUN 2007 - 2011

Based on the ratio of market share of 11 commercial banks discovered the phenomenon gap of the period 2007-2011 where 11 commercial banks dominate the banking market predominantly in Indonesia, including four state-owned banks. This phenomenon has resulted in the banking market structure tends to form an oligopoly, it is obviously affecting the behavior of banks that have a dominant position to maintain supernormal profit, which is reluctant to extend credit with low interest tribes and not a reflection of efficient behavior that ultimately lead to the real sector can not run role in the economy because of factors hampered financing. And with the market conditions are 11 commercial banks were so dominant, which is feared if one bank's collapse could affect the performance of banks in a systemic and even disrupt the Indonesian economy in general. The objectives of this research to determine the form of the banking market structure and analize the influence of concentration market structure and Capital Adequacy Ratio (CAR), Non Performing Loan (NPL), Net Interest Margin (NIM), and Loan to Deposit Ratio (LDR) to Return on Asset (ROA) wich is as a proxy of Financial Performance Banking in 2007 until 2011 periods. The data in this study was collected from Indonesian Banking Directory of 2007-2011. The collected sample was 11 biggest commercial banks over the period from 2007-2011. The analysis model was used to determine the shape of banking market structure by using CR4 concentration ratio (Four Concentration Ratio) on a share of the assets, the share of third-party funding (DPK) and the share of loans, that produce banking that shaped the oligopoly market structure moderate low or concentration oligopoly level IV, where four largest banks a dominate about 42% - 50% market share. The estimation of the Fixed Effect Model unknown that concentration market, market share, Capital Adequacy Ratio (CAR), Net Interest Margin (NIM) and the Loan to Deposit Ratio (LDR) has a positive effect on profitability (Return on Assets ) as a proxy for the performance of the banking industry. And for the Non Performing Loan (NPL) has a negatively effect on profitability (Return on Assets) as a proxy for the performance of the banking industry.

The effects of media reputation on third-party funding of Swiss universities

PurposeThis study analyzed the effects of the visibility and evaluation of universities in news media coverage on the development of their private and public third-party funds.Design/methodology/approachThe paper uses the concept of media reputation to investigate the effects of news media coverage on the outcome of funding decisions by firm managers and scientific experts. Extensive news media data from 2011 to 2017, collected with manual content analysis, were combined with economic data on Swiss universities.FindingsThe results show that a more positive evaluation in the news media leads to the positive development of private, but not public, third-party funding. Surprisingly, visibility in the news media has a negative effect on private third-party funding.Research limitations/implicationsThe effects of media reputation are dependent on the stakeholders under review. However, this study's design does not yield evidence on direct causal effects. Further studies could, therefore, use surveys to analyze the decision-making processes of individuals regarding their relative dependency on news media consumption.Practical implicationsThis study demonstrates that positive evaluation in the news media represents an asset for universities when striving for more private third-party funding. Public relations (PR) activities aimed at the news media, therefore, can help universities attract additional funding.Social implicationsThe paper shows that in a digitized media environment, the news media still represent an important source for information about scientific organizations.Originality/valueThe study was the first to analyze the effects of media reputation on the third-party funding of universities.

Manajemen Risiko dalam Transaksi Gadai Sepeda Motor di Kelurahan Pancor Lombok Timur

This study aims to find out how risk management will be faced by the public in conducting motorcycle pawn transactions. This research uses a qualitative research approach. People in Indonesia are already familiar with the word pawn, especially in the community in the Pancor Village, East Lombok Regency, which often occurs, namely motorcycle pawn transactions. This happens when someone needs funds in an urgent and fast condition, while the person concerned does not have cash or savings funds, then third-party funding becomes an alternative solution. Based on the results of this study, people who conduct transactions, especially those who receive pawning, will carry out risk management because they are more likely to have risks. . Whereas the party giving the pawn doesn't know how much risk is being faced by the party receiving the pawn. In connection with this, I as a researcher hope that the party providing the pawn in order to further minimize the risk to the party receiving the pawn so that the party receiving the pawn has no difficulty in managing the risk.

Medical Psychology and Medical Sociology in Transition - Review and Perspectives of the two Disciplines in Germany

Through the Master Plan for Medical Studies 2020 and the development of the National Competence-Based Learning Target Catalogue Medicine (NKLM), significant changes in university medicine were started. The aim of the study was a systematic analysis of the state and perspectives of the disciplines of medical psychology and sociology at the medical faculties in Germany. An online survey was conducted on 5 topics (structure, teaching, research, care, perspectives). 46 departments and institutes of medical psychology and sociology were invited to the survey. 40 of the 46 contacted institutions have called up the online questionnaire, 35 have answered in full (return: 76.1%). 77% of the institutions are autonomous. In the median, the institutions have 15 employees (range: 1 to 149). 9 universities have established a model curriculum. More than half of the institutions use and train simulation patients. The main research priorities are clinical research, health care research, neuroscience and classical medical psychology or sociological research topics. The institutions receive primarily public funding and publish 19 publications (80% international, median) each year. Publication opportunities are considered "satisfactory" by 54% of institutions (2003: 44%), and by 29% as "very satisfactory" (2003: 21%). 9 out of 27 medical psychology institutes provide clinical services to patients and relatives with mental or chronic physical illness. Almost half of the institutions expect the Master Plan 2020 to further increase the relevance of the subjects. Since 2003 there has been a substantial increase in scientific staff, third-party funding and publications. The sites show a pronounced heterogeneity in terms of size and equipment, which leads to an imbalance in terms of teaching and research as well as clinical services. The subjects of medical psychology and medical sociology have developed very heterogeneously in terms of independence, size, equipment and possibilities at the various faculties in Germany. Therefore, it is very important in the future that the 2 disciplines intensify the dialogue with each other and also with other psychosocial disciplines in order to influence the current development regarding NKLM and Master Plan 2020 constructively. On the one hand, this calls for an expansion of disadvantaged institutions and a consolidation of the existing autonomous institutions.

Striking the right balance: disclosure of third-party funding

ABSTRACT Much debate exists in the field of arbitration as to whether general disclosure of third-party funding is needed. In 2017, Singapore and Hong Kong were the first jurisdictions to introduce obligations to disclose the existence and identity of a third-party funder at the outset of arbitration proceedings. In contrast, there is little debate as to whether general disclosure of third-party funding is needed in the litigation context. This article aims to address this gap by highlighting relevant concerns about non-disclosed third-party funding in litigation proceedings in general, and in England and Wales in particular. The article also examines the scope and character of the new disclosure obligations in Singapore and Hong Kong and provides a comparative analysis of differences and cross-cutting issues regarding third-party funding disclosure in litigation and commercial arbitration.

Third-Party Funding in International Arbitration: Concept, Issues and the Need for a Regulatory Framework

Third-Party Funding in International Arbitration: Concept, Issues and the Need for a Regulatory Framework

From Injunction and Settlement to Action: Collective Redress and Funding in the Netherlands

The Netherlands is internationally known for its collective settlement mechanism that was introduced in 2005. In a small number of cases with a global outreach this settlement regime has proven to be effective. However, its application relies on the willingness to conclude a settlement agreement and to have it declared binding by the court. A collective action regime had been in place for decades, but was limited to injunctive and declaratory relief. After years of discussion the collective redress system was ‘upgraded’ by introducing a collective action procedure for damages in 2020. While the intention behind this latest addition can be welcomed as an effective collective action system in this regard was lacking, some of its features are also subject to criticism and have raised doubts as to whether the new Act is an improvement. That is especially the case with respect to actions filed for declaratory and injunctive relief by so called ‘ideological claimants’. Another crucial aspect for the effectiveness of collective redress mechanisms in general, but particularly with respect to monetary relief, is the availability of funding. The different modes of financing litigation, are the topic of extensive debate. In particular third-party funding as a solution to enable expensive collective actions to take place, has gained critical attention in Europe, even though it may prove to be the only available or viable funding option in the international context. This chapter dis-cusses developments in collective redress in the Netherlands with a focus on the issue of funding and on the position of the Netherlands collective redress regime in the European and international context. It concludes that if the Netherlands is to continue to hold its predominant position in Europe in relation to collective redress, that will not be because of the new law, but because of the creativity of lawyers, the pragmatism of the Dutch courts and the willingness of funders to rely on both.

Third Party Funding in International Arbitration in Iran

The present research focuses on arbitration, which seeks to examine the advantages and disadvantages of third party funding(TPF) and its differences with other forms of financial interference and determines who can act as an investor. The result of this research is that third party funding has disadvantages and advantages that in general, its advantages are dominated due to the difference in volume of funding, and investors in this area can be lawyers, insurance companies or any other person who is not prohibited by law and can be simulated and executed under the Article 10 of civil law.

Industry and leadership experiences of the heads of departments and their impact on the performance of public universities

PurposeThe purpose of this paper is to identify whether the prior industry experience (IE) or industry leadership experience (ILE) of the head might influence the department’s publication output, the ability to acquire external research funds or its entrepreneurial activities (e.g. the commercialization of research results through patents).Design/methodology/approachThe study is based on data from 208 Austrian university departments and combines data from different sources (CVs of the heads of departments, commercial register, funding data and publication data).FindingsThe results show a positive relationship between ILE and the patent output of the departments as one indicator for the commercialization of research activities. Low positive effects of IE on the extent of third-party funding were also found. Furthermore, the scientific experience of the head of department has a positive influence on the publication output of the whole department.Practical implicationsThe findings suggest that the scientific ability of researchers should be key when selecting the head of a department, due to the fact that scientific performance is still essential for most of these units. However, when universities seek to focus more strongly on other, for example, entrepreneurial activities, then additional competencies come into play. As the actual focus of universities is currently subject to change, former IE and ILE will become increasingly more important and the heads of departments will play a decisive role in the transition toward becoming an entrepreneurial university. Therefore, universities are well advised to integrate these experiences in the job specifications and to establish processes that facilitate the change from an industrial to a university job or which allow “double lives” in university and industry.Originality/valuePrevious studies have mostly investigated the role of the scientific experience of academic leaders in the research performance of their institution in later decades. This study examines the actual relevance of previous entrepreneurial experiences of heads of departments to the departments’ research performance, the ability to acquire external research funds or their entrepreneurial activities.

Financing Disputes: Third-Party Funding in Litigation and Arbitration

Third-party funding is an arrangement where an entity with no prior interest in the merits of a dispute provides funding to a party involved in the dispute. Traditionally, this funding was specifically to assist the party to the dispute by financing its legal fees and costs and could be obtained in a number of ways, such as through insurance or loans from financial institutions. Third-party funding has seen significant growth and an increase in sophistication in recent years, resulting in a departure from this traditional model concurrent with the rise of commercial litigation funders whose entire business is providing non-recourse investment in disputes. This article explores both the changes in models of third-party funding — which can include some or all of: (1) paying for legal fees and disbursements, (2) indemnifying against the risk of an adverse costs order, (3) stepping in to provide security for costs, (4) providing working capital or portfolio funding for bundles of claims, and (5) the rise of institutional third-party financing in Canada. In particular, this article will explore some of the specific applications of third-party funding to the energy industry, including “David and Goliath” claims, claims involving state asset expropriation, and the use of funding as a tool for risk allocation in asset sales.
 This article will also discuss the development and current state of the legal framework and case law in Canada with respect to third-party funding, along with third-party funding across different contexts and types of disputes. This includes the evolution of the law of maintenance and champerty and a discussion of key legal and ethical issues engaged by third-party funding arrangements including confidentiality, privilege, disclosure, conflicts of interest, and control of the dispute.

Proceedings From the Clinical and Scientific Innovations in Oral and Maxillofacial Surgery Conference 2019

Proceedings From the Clinical and Scientific Innovations in Oral and Maxillofacial Surgery Conference 2019

Private external funding of universities: Blind alley or new opening?

Of late, the problems of private external, or third-party funding of universities have been the subject of much debate, even at universities of economics and business. Given the constraints on government funding, politicians are looking increasingly to this source, with university leaders (rectors, deans, department heads) frequently being set targets for increasing income from it. Yet it is important to distinguish between different types of external funds. Moreover, their advantages and potential drawbacks must be weighed up. This paper seeks to do that, against the background of the author’s more than 13 years as Rector of Vienna University of Economics and Business (WU). Much of the paper thus draws rather less on theory than on that practical experience.

He who pays the piper calls the tune? Setting the stage for an informed discourse on third-party funding of academic business research

Third-party funding of academic research has grown rapidly in its scope and impact. However, several forces demand greater attention to potential opportunities, challenges and threats of third-party research funding. Adopting a historical approach rooted in Anglo-Saxon academia, we discuss what third-party research funding means for European business researchers, which opportunities and tensions arise, and how to best manage them in the interest of the diverse stakeholders of our field. Finally, we introduce the six papers in this special issue and how they move the conversation on third-party research funding forward. The evidence base provided here is composed of a rich blend of empirical data, reflections on personal experience and conclusions drawn from formal mathematical models. As a result, the collection of papers offers a kaleidoscope of the state-of-the-art of research on third-party funding of academic business research in Europe. The insights emerging from these six papers collapse into a clear overall picture with each paper contributing a distinct jigsaw piece, a picture we present and discuss in this paper.

The shift towards entrepreneurial universities and the relevance of third-party funding of business and economics units in Austria: a research note

The importance of public and private third-party funding of universities has changed over the last decades. However, the knowledge about how universities finance their research are rather limited. We aim to fill this gap and investigate the funding structure of universities and how third-party funding has changed over time. In our explorative analysis, we use publicly available data of four Austrian universities. We analyze this data at university level as well as the level of the faculty of business and economics. We provide insight into the development and structure of third-party funding and conclude that universities’ funding structures differ and has developed over time.