Trust Fund Research Articles

Болотные ресурсы Горного Алтая и подходы к их рациональному использованию

The article presents the results of a survey of the territory of the Altai Republic, in order to identify peat swamps and paludified soils. The general technical, agrochemical and chemical properties of peat were determined and radiocarbon dating of peat deposits The properties of peat suggest their application in agriculture for the production of organic fertilizers, biostimulants and growth substances, and can also be used in balneology and medicine. It was proposed to distribute the peat fund of the Altai Republic among trust funds with the allocation of a protected fund as a priority.

Assessment of Cost and Time Performance of Tertiary Educational Trust Fund (TETFund) Construction Project in South-West Nigeria

Funds have been allocated to TETFund annually for infrastructural development in Nigeria to address decays of educational facilities and create an enabling environment for teaching and learning. This study evaluates time and cost performance of public building construction projects funded by TETFund in South-West Nigeria. The study adopted questionnaire survey by self-administering two hundred and fifty (250) questionnaires to project clients, consultants and contractors engaged in TETFund projects in South-West Nigeria. One hundred and eighty-six 186 (74.4%) of the questionnaires were retrieved from the respondents and were used in the study. Also, record of project cost and duration were purposively obtained from two hundred and fifty-four (254) TETFund sponsored projects from Institutions in South-West Nigeria. Mean Score (MS) was used to rank the various items and components while regression analysis was used to forecast future project cost and time. The top three factors that influence cost and time based on the perceptions of the respondents are client satisfaction with the project (MS= 3.86), construction time predictability (MS= 3.85) and construction cost predictability (MS= 3.83). From the TETFund project records analysed, a total sum of ₦10,856,167,497.14 was spent on TETFund building construction projects in South-West Nigeria from 2003-2013 with a contingency sum of ₦163,248,265.44. The average percentage cost overrun for TETFund projects was 1.62% and that of time overrun was 112.23%. Regression analysis of the predicted project time and cost was significant and can be used to forecast time and cost of future TETFund projects. Therefore, it was recommended that accurate cost estimate, adequate project planning and good specification should be carried out by project stakeholders before contracts are awarded to enhance construction project performance. Also, the developed regression model of estimated project cost and time can be used to predict cost and time of future construction projects.

Applications of Waqf-Featured Fund in the Malaysian Islamic Fund Management Industry: A Comparative Study

Historical evidence demonstrates the enormous role waqf institutions have played in the development and advancement of Muslims throughout the Muslim history. With the proper structure and strategy, waqf contributes to numerous spheres of life, including mainstream economic development. Contemporary development of Islamic finance has enabled the waqf concept to be linked to various financial products, including Shariah-compliant investment instruments, such as, Islamic unit trust funds and Islamic wholesale funds. This paper aims to highlight the current applications of the Waqf-Featured Fund (WFF) in the Malaysia Islamic Fund Management Industry. This is in relation to the launch of a new WFF framework to facilitate the offering of Islamic funds with waqf characteristics. The study took both qualitative via in-depth semi-structured interviews with eleven (11) WFF stakeholders, as well as, analyzing of policy documents, journal articles, books, and online resources. The findings shed light on the current issues and challenges confronting waqf projects in Malaysia, as well as the current guidelines and essential requirements for the WFF, the current application of the WFF in the Malaysian Islamic Fund Management (IFM) industry, and a proposal for the future application model, which includes fund collection, investment structure, distribution process, and fund reporting.

Diversification of financial sources for sustainability of the Seventh Day Advent Church in South East Kenya Field

This study sought to find out the diversification of financial sources for the sustainability of the Seventh Day Adventist (SDA) Church in South East Kenya Field. The church relies entirely on traditional financial sources (tithes, offertory, thanksgiving, pledges) that are insufficient to finance the church’s activities. The voluntary giving of the faithful to support the church is inconsistent and, therefore, unsustainable for the church. However, this requires that financial sources, both internal and external, be adequate, consistent, sustainable, and ultimately well-managed for the church to be able to run its activities. The study employed resource mobilisation theory by John McCarthy and Mayer Zald in 1977, providing insights into diversifying resources inside and outside the church to achieve its financial objectives. The study used a descriptive research design, and data was collected using interview schedules from a sample size of 355 participants and a questionnaire. The study found that the SDA Church, despite having all the financial systems and structures in place, the SDA Church in South East Kenya Field is financially self-sustaining. It recommended that the SDA Church in South East Ken consider diversifying its financial sources by investing in financial institutions like SACCOs, trust funds, agriculture, buying shares, etc. Moreover, reduce over-reliance on unreliable traditional finance sources that depend on voluntary giving of the church membership.

Causes of time overrun in fixed price contracts of tertiary education trust fund (TETFund) building projects in Enugu State, Southeast Nigeria

Although there is a growing concern about the performance of the construction industry in the delivery of projects on time, much has not been done to unearth the causes of time overruns in fixed-price contracts such as the tertiary education trust fund (TETFund) projects in Nigeria. This study investigated the causes of time overruns in the TETFund building projects in Enugu State, Southeast Nigeria. A survey involving the analysis of records of 60 TETFund building projects awarded between 2015 and 2021 and the administration of questionnaires to 119 informants was conducted. Results of the descriptive and principal component analyses revealed that 68% of the projects experienced time overruns because of fluctuations in the exchange rate and inflationary trends, hyperinflation, additional work, and escalation of the prices of materials. The top three of the eleven dimensions of the causes of time overruns were incompetence in project planning, management, and execution; inadequate project planning and organization, and poor project management. This study implies that to check the prevalence of time overruns in TETFund building projects and their adverse consequences in Nigeria, the selection of contractors should be based on competence, and contractors for TETFund projects should build capacity in handling fixed-price contracts.

Penerapan Informasi Akuntansi dan Tingkat Penerimaan Dana Zakat Pada Badan Amil Zakat Nasional Medan

Accounting information is a computer-based system and determines performance appraisal, performance, and usage. Accounting information is very important to use in BAZNAS, because if you don't use an accounting information system, the reporting system or budget arrangement will not be optimal. Based on the acceptance data for the last 5 years from the results of interviews, it was found that the data on receipt of zakat funds at BAZNAS has experienced ups and downs or is unstable, so this will affect public confidence in giving zakat at BAZNAS. Zakat funds are trust funds that are paid by the community to be distributed to mustahik. This study aims to analyze the application of accounting information and assess the level of acceptance of zakat funds at the Medan City National Amil Zakat Agency. This research method uses a qualitative approach with descriptive methods and the research data consists of primary data and secondary data. In this study, the primary data was obtained from direct observations and interviews with informants, while the secondary data in this study were in the form of research supporting data, such as documents owned by BAZNAS in the city of Medan. The results showed that the implementation of the Medan City BAZNAS information system was in accordance with PSAK no 109 in the sense of Statement of Financial Accounting Standards (PSAK) no 109 regarding zakat and infaq/alms accounting issued by the Indonesian Institute of Accountants (IAI). PSAK no. 109 is used as a guideline for OPZ (zakat management organization) in the recognition, measurement, presentation and disclosure of zakat and infaq/alms transactions. The level of receipt of BAZNAS zakat funds in Medan City shows an unstable condition, where there are changes every year, it can go up or down. Judging from the report on changes in zakat funds in 2018 Rp. 709,759,592, in 2019 Rp. 310,816,859, in 2020 Rp. 653,352,697, in 2021 Rp. 738,399,810, and in 2022 Rp. 1,737,062,598.

Multiple Myeloma: Current Clinical Landscape and Compounding Costs.

The treatment landscape of multiple myeloma (MM) has evolved resulting in MM becoming a chronic condition. The costs of MM therapies are substantial and compound as patients remain on long-term maintenance therapies and progress through multiple lines of high-cost therapies. MM predominantly impacts the elderly population insured by Medicare; here, we analyze how these costs impact patients and the Medicare trust fund. With the recent passing of the Inflation Reduction Act (IRA), we postulate how costs may be impacted and debate future policy initiatives that may result in sustainability. The IRA will impact drug pricing and likely reduce the costs of some treatments used in MM; there is still a lot of room for policy reform to reduce financial toxicity to patients and prevent depletion of the Medicare trust fund.

The role of boards in Hungarian public interest foundation universities

ABSTRACT Between 2019 and 2022, 21 Hungarian public institutions were placed under the control of so-called public interest foundations (trust funds) instead of the state. As a result, the board of each foundation gained considerable power and authority over the institutions and thus paving the way for radical changes in the university management and internal governance. Although the governance reform is in line with international trends in many respects, we identified the unique characteristics of the Hungarian reform, such as the high proportion of politicians among members or their lifetime employment. Based on 38 interviews and document analysis, we examined the rationale behind the reform and the different interpretations of the role of boards. The results show that the perception of the role of boards depends on the level of trust that the board has in the institution and its management. Where boards treat universities as minors, a micro-managerial, supervisory role is more prevalent. Where, on the other hand, the university management is seen by the board as a more responsible, mature grown-up, a more empowering partnership role is possible.

Accessibility to Tertiary Education Trust Fund (TETfund) and Effect on Academic Staff Job Performance in Southwest Universities, Nigeria

Purpose: The study examined the accessibility to Tertiary Education Trust Fund (TETfund) interventions and its effect on academic staff job performance in universities in Southwest, Nigeria.
 Methodology: Descriptive survey research design was adopted for the study. The population consisted of 11864 Nigeria public universities academic staff. Nine hundred and twenty-seven (927) universities’ academic staff constituted the sample for the study. TETfund Interventions Questionnaire (TIQ) was administered on other academic staff while Academic Staff Job Performance Questionnaire (ASJPQ) was used by Heads of Departments (HODs) to assess the performance of academic staff. The face and content validity of instruments were ensured by experts in test and measurements. The consistency of the instruments was carried out using test-retest method. Coefficients of 0.86 and 0.87 were obtained for TIQ and ASJPQ respectively. Research question was answered using frequency counts and mean. Hypotheses were tested using Pearson Product Moment Correlation coefficient (PPMC). All hypotheses were tested at 0.05 level of significance.
 Results: The results revealed that there was a positive relationship between research, conference, further study grants and academic staff job performance. It also revealed that the universities and the academic staff cannot easily access research grant, conference attendance grant and further study grant that are provided through TETFund.
 Unique Contribution to Theory, Policy and Practice: The study has been able to make case for the review of policy frameworks of TETFund in order to make more impact in the area of knowledge creation and sharing. Furthermore, the interventions that are needed to guarantee optimal outputs from university academic staff were identified.

INCREASING SOLVENCY BY MODERATING SOCIAL CAPITAL: A STUDY ON GROUP LENDING MODEL FROM COMMUNITY EMPOWERMENT TRUST FUND – INDONESIA

The Community Empowerment Trust Fund is a revolving fund belonging to the community originating from the former Sub-District Development Program and the National Program for Independent Rural Community Empowerment in Indonesia which ended in 2014. Community institutions then manage the Community Empowerment Trust Fund to fund community economic activities in the form of group loans. The group lending model is a financial inclusion that reaches the poor who do not have collateral. These funds have been managed well with the group loan model. However, the success of managing these funds cannot be separated from the social capital built between group members and between the group and the fund management unit. This study aims to examine the management of the borrower group – group internal setting; group loan appraisal and group loan control – and social capital on repayment performance. The study results prove that group lending appraisal, group lending control, and social capital positively impact repayment capacity. The research finding is social capital strengthens group lending control dynamics to increase repayment capacity. Another finding explains that women’s loan groups have a higher collectability rate in repayment of loans compared to productive economic business groups whose members are both male and female.

Deterring Migration in Times of Crises: The Ethics of Behavioral Change in Migration Information Campaigns

The European migration “crisis” has led to new policy and funding mechanisms, such as the European Trust Fund for Africa and funding from the UK Home Office that have in common a dual, and often contradictory, objective: to support migrant protection, while reinforcing a migration management or migration control agenda. They have given flexibility, in a context of “crisis response,” to a range of actors with different levels of responsibilities and of transparency when reaching out to migrants, at times to the detriment of one aspect (the respect for human rights) for the benefit of another (irregular migration control), and with questionable results. This article provides an analysis of one program implemented in Ethiopia and Afghanistan: an information campaign implemented between 2016 and 2019, with a focus on behavioral change among potential migrants. This case study reveals practices in migration information campaigns that go against existing standards in social and behavioral communications campaigns. Building on such standards, the article provides a critical lens through which to assess migration information campaigns, through the prism of three criteria outlined in the paper and used to evaluate the results of the program, and provides a way forward for setting standards in planning and implementating migration information campaigns.

Gender and Disability in US State Temporary Disability Systems 1942–1949

AbstractDuring the 1940s, four US states established a new form of social insurance, Temporary Disability Insurance (TDI), meant to provide wage replacement to breadwinners unable to work due to nonoccupational illness or injury. The first TDI state, Rhode Island, did not initially exclude coverage of pregnancy-related disabilities, threatening the health of the TDI trust fund. Administrators and lawmakers then sought to reduce or eliminate the pregnancy-related disability benefit on the grounds that pregnancy and related conditions were not “real” disabilities. Subsequently, Rhode Island administrators advised lawmakers in California, New Jersey, and New York to exclude pregnancy-related disabilities from coverage. The breadwinner gender ideology animating New Deal social welfare programs intersected with gendered ideas of disability, creating a form of social insurance that excluded or marginalized pregnancy-related disability and further circumscribed women’s social citizenship.

Whatever happened to the Child Trust Fund? The abandonment of universal savings for UK children

AbstractChild development accounts (CDAs) provide subsidised savings accounts for children to help meet life course needs. While now largely forgotten, the Child Trust Fund was an innovative savings scheme for UK children that sought to generate a capital sum when they turned 18. The first children to receive these funds reached this point in late 2020 so it is timely to review the impact of this national scheme, which by 2022 had £10 bn saved in it. We consider how far the Child Trust Fund led to higher levels of savings for those children who were eligible for it and whether there is any evidence it created a savings habit in young people and their parents. We use six waves of longitudinal ONS Wealth and Assets Survey data. While we find a small effect on savings, with children from better‐off families benefiting the most, there is little evidence of a meaningful effect on savings habits. Nonetheless, the policy's impact on generating even small amounts of savings could be important, especially as most children in the UK have no savings. The study offers policy recommendations to support children's savings in the UK, based on the significant example of asset‐based welfare policy that the CTF provides.

RESEARCH IN ECO-TOURISM IN KAZAKHSTAN AS A SUCCESSFUL MECHANISM IN THE DEVELOPMENT OF ENVIRONMENTAL TOURISM MANAGEMENT

The purpose of this study is to determine the current level of ecotourism research in tourism environmental management of Kazakhstan and to perform a comparison assessment in order to gain a better understanding through critical analysis and the identification of gaps for future studies.Methodology. Analysis, comparison, and literature review have been used as the methods of this work.The originality / value of the study is an accurate analysis of the present situation of ecotourism research in Kazakhstan and Bhutan. The Bhutanese example of ecotourism research could contribute for the further development of tourism environmental management in Kazakhstan. Findings. The authors found a few main problems of ecotourism research, including having lack of comprehensive data and information and problems with regulatory legal acts and documents in Kazakhstan. Therefore, right ecotourism study can facilitate to the development of the tourism environmental management in Kazakhstan.Through analyzing the Bhutanese practice of ecotourism research, the authors found a gap in Kazakhstan tourism environmental management where further research should be focused. Consequently, the authors gave a few recommendations on the further development of ecotourism research in Kazakhstan, as working with closely with foreign experienced researchers, improving the protected areas websites, establishing a trust fund with other countries, improving government documents on tourism environmental management, publishing more reports in English, and providing more grants and scholarships.

Rights of beneficiaries: building foundations and trusts, a Czech perspective

Abstract The aim of this article is first to briefly outline the current Czech legal regulation of the position of beneficiaries of trust funds and private foundations and the breadth of knowledge in this area. The authors point out crucial questions and also suggest possible directions for further consideration, many of which are well known in other jurisdictions where the possibility to create trusts/trust-like and foundation structures for private purposes has been introduced. Hopefully, the Czech perspective (and experience so far) can also be of use to other legal systems which are dealing with similar issues.

Reflections on the initiatives of NGOs, INGOs, and UN organizations in eradicating poverty in Lebanon through the case study of RMF

Despite several measures aimed at helping the poor, almost three-quarters of the Lebanese residents plunge into poverty (ESCWA, 2021), owing to a severe political, economic and financial crisis that hit the country since the last quarter of 2019 (WorldBank, 2021). These combined shocks have resulted in a drop in the living conditions for a large percentage of the Lebanese, minorities, and refugees. Many efforts have been set to lower the levels of poverty by INGOs,NGOs, and UN organizations in the country whether by providing direct relief support to the poor, minorities and refugees or by funding SMEs and startups, yet the changes in the poverty levels are still low. This paper aims at exploring the effects of the programs and projects being implemented by key local NGOs, International NGOs, and UN organizations in the country in an attempt to examine their ability in changing the lives of the beneficiaries and in reducing poverty in the nation. To do so, the paper considers one of the relief programs implemented by René Moawad Foundation RMF; the “Food for Assets through the Construction and Rehabilitation of Irrigation Canals and Agricultural Roads” project that is funded by the European Union MADAD Trust Fund – WFP. The Yin case study protocol was used (R. K. Yin, 2011) (Stake, 1995) (Tellis, 1997) to gather data and analyze them. The paper concludes that such interventions are important and can change the living conditions of the beneficiaries temporarily, but for reducing poverty, sustainable interventions are needed to achieve long run goals.

Influencing Factors of the Post-Relocation Support Policy’s Satisfaction Degree for Rural Household: A Case Study of County M, Sichuan Province

With the decisive results of poverty alleviation in China, figuring out how to consolidate the results and transform them into the driving force of rural revitalization is an important adjustment for rural revitalization and high-quality development. The efficiency of policy implementation as well as the sustainable development of the areas out of poverty are both reflected in rural households’ satisfaction with the ex-suit poverty alleviation policy for relocation. Based on survey data collected from 293 households in County M, Sichuan Province, this paper selects 23 indicators of satisfaction with post-relocation support policies from livelihood capital, political trust, policy participation, and public service perception. On this basis, we use the multinomial logistic model to analyze the impact of each influencing factor on the post-relocation support policy’s satisfaction degree for rural households. The results show that the satisfaction degree of relocated households with post-relocation support policies is upper-middle. Among the livelihood capital of relocated households, the proportion of non-agricultural income, cultivated land area, infrastructure conditions, number of family workers, and number of civil servants are all factors that positively affect policy satisfaction. In addition, with regard to relocating households’ engagement in political trust, policy participation, and public service perception, it should be pointed out that policy results trust, policy understanding, opinions expressed, local government, back-up personnel, policy process, and support funds all have appreciably positive effects on policy satisfaction. These evaluation results can serve as a reference for the revision of post-relocation support policies in China and other developing countries.

THE ITALIAN FUND FOR THE VICTIMS OF THE THIRD REICH: CRITICAL REFLECTIONS AND A PROPOSAL FOR FUTURE REPARATION INITIATIVES

Building on the dispute between Germany and Italy over states' jurisdictional immunities, the contribution shows how Italy's recent establishment of the Restorative Trust Fund for victims of the Third Reich is not sufficient to resolve the dispute between the two states. Taking a cue from restorative models adopted domestically by various states, particularly with reference to transitional justice, the contribution outlines a model of a trust fund in favor of victims that can combine the right of access to justice with respect for immunity from the jurisdiction of the foreign state, useful for future restorative initiatives in Italy or abroad. To avoid violations of immunity, the forum state wishing to take over from the responsible foreign state for the purpose of reparation should create a grievance commission with exclusive jurisdiction over applications for access to the reparation fund, so that the proceedings are not brought by the victim against the foreign state, but directly with respect to the reparation fund. The contribution explains why this procedure is not contrary to foreign state immunity with reference to the concept of indirect impleading in Article 6(2)(b) of the UN Convention on Jurisdictional Immunities of States and their Property. The decisions of a grievance commission would not bring into play the immunity from the jurisdiction of the foreign state as long as they do not affect the property, rights and interests of the latter in the domestic system of the forum state. To this end, the commission's decisions-executable on the ground, subject, therefore, to the property of the foreign state-should be drafted in the form of a finding of victim status, not a finding of responsibility of the foreign state. In order to provide victims with full access to justice, on the other hand, it is necessary for the decisions of the grievance commission to be appealable to ordinary courts.

The cost of foreign ownership: Voluntary sustainability reporting and financial performance in an emerging economy

PurposeMany emerging economy firms are under foreign owners' pressure to embrace the challenges of addressing corporate social responsibility (CSR) and consider adopting sustainability initiatives. However, it is not clear how foreign ownership plays a role to enable or inhibit these emerging economy firms from translating sustainability initiatives into improved financial performance. Utilizing neo-institutional theory, the authors argue that emerging economy firms that voluntarily report sustainability gain legitimacy in the eyes of shareholders and improve stock market performance. However, emerging economy firms may not have the resources to reconcile the internal stakeholders' various legitimacy requirements to promote sustainability practices, resulting in a negative association with accounting performance. Foreign ownership attenuates the relationship between sustainability reporting and firm performance due to the different legitimacy requirements in foreign markets.Design/methodology/approachTo test the study’s hypotheses, the authors collected and analyzed a large sample of publicly listed firms between 2010 and 2016 in Taiwan where the types of foreign ownership include foreign trust funds, foreign financial institutions and other foreign legal entities. Regression analyses were conducted to investigate whether the firms that report their sustainable practices have better financial performance, including stock market performance and accounting performance. Additionally, a three-step procedure was employed to address the endogeneity issue with a binary explanatory variable.FindingsThe positive stock market reaction to the emerging economy firms' voluntary sustainability reporting supports legitimacy gained among investors. By contrast, sustainability reporting has a negative association with accounting performance due to the difficulty of reconciling different legitimacy requirements among various stakeholders in emerging economies. Further, foreign ownership, particularly the trust fund, exhibits a negative moderating effect on the relationship between sustainability reporting in aligning corporate practices with sustainable development goals (SDGs) and the company's stock market performance.Originality/valueBy examining the less tested contingent role played by foreign ownership in the emerging economy firms' sustainability reporting, the authors provide insights into the influence exerted by different types of foreign ownership on firms' financial performances beyond previous studies that focus on family ownership, state ownership, or managerial ownership in emerging economies. The findings shed light on corporate sustainability strategy and foreign direct investment policies for an emerging economy.

Corporate Social Responsibility and Green Marketing Adoption in Nigeria: A Panoramic View

Corporate social responsibility (CSR) and green marketing adoption is a twin trend that is fast becoming a global tendency amongst world economies, irrespective of socio-economic outlook. This paper pedagogically links the two concepts in the Nigeria business climes and explores, through a panoramic view the rate of adoption of CSR and green marketing in Nigeria. This study adopted an exploratory research design vis-à-vis a qualitative research approach. Based on the findings, this paper posits that corporate social responsibility in the Nigerian context is highly “localized” to reflect realities in the Nigerian socio-cultural space. However, green marketing adoption is near impossible for the average Nigerian organization; this is due in part to the enormous funds necessary for implementation of green marketing strategies in their businesses. This study therefore recommends the setting up of trust fund for companies (especially, small scale business) by government; this would give the companies the opportunity to fully develop and adopt green marketing strategy