If the Banks are Doing So Well,Why Can't I Get a Loan? Regulatory Constraints to Financial Inclusion in Indonesia

Indonesia's financial sector has two paradoxes: (i) Indonesia has been a global leader in microfinance for the past 25 years, but access to microfinance services is declining; and (ii) Indonesia's commercial banks are liquid, solvent, and profitable, and the Indonesian economy has been doing well over the past decade, but small and medium enterprises are facing a credit crunch. Although Indonesia is underbanked, most commercial banks have been unresponsive to unmet effective demand. The behavior of banks has been in their own short‐term best interests, primarily because of the unintended consequences of Indonesia's financial sector reregulation after the East Asian crisis and contradictory monetary policies, which have produced a prudentially sound but inefficient, narrow, and homogenized banking oligopoly. Indonesia should not respond to financial exclusion by artificially pumping out and administratively allocating more credit. Instead, it should promulgate smart regulation so that banks maintain their sound risk management without pursuing noncompetitive and noninclusive business practices.     

Corporate Risk Management under Information Asymmetry

This paper examines the financial and operational hedging activities of US pharmaceutical and biotech firms that are subject to a high level of information asymmetry stemming from R&D investments during 2001–2006. We find evidence in support of the information asymmetry hypothesis à la Froot, Scharfstein and Stein (1993) that hedging helps mitigate the under‐investment problem. Specifically, we find that the use of financial derivatives is associated with greater firm value and that the value enhancement is larger for firms subject to greater information asymmetry and better growth opportunities. There is a synergy between financial hedging and operational hedging where the latter is used to counter product development risk. The results are robust with respect to alternative performance measures, industry‐specific growth measures, and the endogeneity problem. Our work is differentiated from existing studies that examined commodity‐based industries without addressing information asymmetry.     

Robotics in the early childhood classroom: learning outcomes from an 8-week robotics curriculum in pre-kindergarten through second grade

In recent years there has been an increasing focus on the missing “T” of technology and “E” of engineering in early childhood STEM (science, technology, engineering, mathematics) curricula. Robotics offers a playful and tangible way for children to engage with both T and E concepts during their foundational early childhood years. This study looks at N = 60 children in pre-kindergarten through second grade who completed an 8-week robotics curriculum in their classrooms using the KIWI robotics kit combined with a tangible programming language. Children were assessed on their knowledge of foundational robotics and programming concepts upon completion of the curriculum. Results show that beginning in pre-kindergarten, children were able to master basic robotics and programming skills, while the older children were able to master increasingly complex concepts using the same robotics kit in the same amount of time. Implications for developmentally appropriate design of technology, as well as structure and pace of robotics curricula for young children are addressed.     

Text and metatext in the resource‐based view

This paper distinguishes between text and metatext in the resource‐based view (RBV) – that is, the actual words and logic fundamental to the RBV (the text) and the traditions, interpretations and applications of the theory (the metatext). It argues that Kaufman's ( 2015 ) criticism of the RBV as applied to strategic human resource management actually focuses on RBV metatext and not text. Indeed, unlike some RBV metatext, RBV text actually has a great deal to say about research and practice in strategic human resource management.     

Increasing the Informational Content of Reach and Frequency Estimates

This article discusses the limitations of present methods of analyzing the coverage of advertising schedules and presents a technique for obtaining additional information from traditional measures of schedule coverage. This technique models entire patters of audience exposure to commercials by means of a compound Bernoulli distribution that can be estimated from reach and frequency data. Knowledge of the complete pattern of audience exposure to advertising schedules assists the media analyst in selecting optimally effective advertising schedules and consequently enhances the probability of conducting a successful advertising campaign.     

Typologies of Banner Advertisements’ Attributes: A Content Analysis

The web has received significant amount of attention from advertising and consumer researchers investigating the impact of banner advertisement on consumers’ psychological and behavioral responses. However, no typology of banner advertisement has been identified yet, and the selection of banner advertisements as advertising stimuli has been carried out on the premise of personal judgment rather than scientific methodology. The identification of typology is important because different banner advertisement, such as static and pop-up, elicit different consumers’ responses. In addition the identification of a typology constitutes an advance to mid-range theory in a research domain. Hence, the purpose of this research is to identify the typologies of banner advertisements’ attributes such as type, number, shape, location, and size using content analysis. Specifically, nine banner advertisement types are identified as well as the typology of number, shape, location, and size of banner advertisements. Contributions of the research are discussed.     

AIDing contraception: HIV and recent trends in abortion

Using a difference-in-differences estimation framework and state-level data, we investigate the potential role of HIV/AIDS in contributing to declining abortion utilization in the United States. Our results suggest that the perceived risk of HIV contraction negatively affected unwanted pregnancies. Specifically, a 10% increase in HIV incidence is associated with 0.34–1.1% fewer abortions per live births, an effect that can account for at least one-tenth of the sharp decline in abortions observed from the early 1980s to mid-1990s.     

Do charitable causes need to segment their current donor base on demographic factors?: An Australian examination

Modern charities are facing increasing pressures requiring them to use more effectively a range of marketing activities, and segmentation may be one such tool. The giving literature suggests that the demographic factors of gender and age might serve as appropriate segmentation criteria and this paper examines whether motivations of existing donors vary by age or gender. The results suggest that there may be limited benefits in segmenting existing donors and that charities may be able to use similar promotional strategies for all existing donors. Copyright © 2002 Henry Stewart Publications     

Seven surprises for new CEOs

As a newly minted CEO, you may think you finally have the power to set strategy, the authority to make things happen, and full access to the finer points of your business. But if you expect the job to be as simple as that, you're in for an awakening. Even though you bear full responsibility for your company's well-being, you are a few steps removed from many of the factors that drive results. You have more power than anybody else in the corporation, but you need to use it with extreme caution. In their workshops for new CEOs, held at Harvard Business School in Boston, the authors have discovered that nothing--not even running a large business within the company--fully prepares a person to be the chief executive. The seven most common surprises are: You can't run the company. Giving orders is very costly. It is hard to know what is really going on. You are always sending a message. You are not the boss. Pleasing shareholders is not the goal. You are still only human. These surprises carry some important and subtle lessons. First, you must learn to manage organizational context rather than focus on daily operations. Second, you must recognize that your position does not confer the right to lead, nor does it guarantee the loyalty of the organization. Finally, you must remember that you are subject to a host of limitations, even though others might treat you as omnipotent. How well and how quickly you understand, accept, and confront the seven surprises will have a lot to do with your success or failure as a CEO.