FOSTERING SUSTAINABLE COMPLEXITY IN THE MICROFINANCE INDUSTRY: WHICH WAY FORWARD?

The microfinance movement has gained tremendous popularity over the past 30 years, but it is still far from meeting its full potential. The industry stands at a crossroads between increased commercialisation and increased philanthropic aid. Standard economic discourse does little to resolve the debate. F. A. Hayek's concept of the'extended order' sheds new light on how we might understand the future development of microfinance.     

Columbia Law School Roundtable on Public Aspects of Private Equity

The mandate of the broader private equity “ecosystem” goes well beyond earning competitive returns for the limited partners and their beneficiaries. After noting that PE investing is encountering ever larger “headline” and social risks, the panelists were in complete agreement that LPs should exert greater pressure on PE sponsors to take account of and try to address negative externalities when buying and operating their portfolio companies. Bain Capital's Double Impact Fund, for example, while always looking for ways of increasing profits and reducing risk, sets out to have a positive influence on its non‐investor stakeholders, including employees. To that end, Bain develops and tracks company‐specific metrics linked to positive outcomes, and then links those metrics to management compensation. And the director of ESG programs at the International Limited Partners Association points to ILPA's programs for diversity and inclusion as a promising model.     

2016 Election’s Effect on Energy Sector Wealth and Political Strategies

Atlantic Economic Journal -     

以人为本的创意新思路

广告活动是从研究受众及其行为开始的,而最终广告目的也是确立品牌在受众心目中的特定形象,并诱发受众购买行为。较之以往,营销人员的行为、洞察力、所传达的声音都应该更加人性化。     

Understanding wine tourism in China using an integrated product-level and experience economy framework

Wine tourism in China is an emerging market. This study addresses two research questions: the product offering and the tourist experience in this market. Findings of an exploratory study using netnography were examined by combining product levels theory and the experience economy model. The resulting proposed theoretical framework identified the status of China's wine tourism market as situated in the infancy stage. Results revealed the core product needed more customers’ involvement, and enrichment of the augmented product, to best position the wine destinations. While, enhancing educational, entertainment, and escapist experiences would benefit the whole experiences and increase future loyalty.     

Economic restructuring and emerging patterns of industrial relations

The Review of Black Political Economy -     

Uncovering evidence on community-based injury prevention: A review of programme effectiveness and factors influencing effectiveness

This study examines systematic reviews of community-based injury prevention programmes to obtain an overview of the evidence base on the effectiveness of these programmes and to analyse how effectiveness is measured and the extent to which factors contributing to achieving programme effectiveness are examined in these reviews. Thirteen systematic reviews were found, encompassing a total of 121 programmes. The results reinforced the well-documented point that the evidence regarding the effectiveness of community-based injury prevention programmes is inconsistent. Some of the programmes targeting specific injury categories, e.g. specific injury types and/or age groups, were successful, whilst more broadly targeted programmes demonstrated less convincing results. Effectiveness was predominantly measured as injury rate reductions. Only one of the reviews identified contextual factors that could have impacted on programme effectiveness. To advance the field, researchers and systematic reviews need to include evidence on factors that may explain how the effects were achieved.     

The Aggregate Behavior of Banks: A Proposal for Prudential Supervision

This study seeks to investigate a macroeconomic approach that could help bank regulators and supervisors perform their task of ensuring financial stability. To achieve this, an attempt is made to explain the behavior of banks by analyzing aggregate time series of credit lending and deposit-taking, which are the variables involved in financial intermediation. This article's main contribution is to present evidence of banks’ behavior in their role as financial intermediaries, in terms of the performance of the variables that represent their credit-granting or deposit-taking decisions. For this purpose the study used a vector autoregressive model to construct impulse response functions and the Granger test. The results demonstrate the existence of bilateral causality between credit lending and deposit--taking, suggesting that banks actively manage the financial intermediation process. In addition, the results show that shocks to deposits destabilize the credit lending process, and credit supply shocks, in turn, destabilize deposit-taking. The latter result is important for understanding how financial instability can arise, and is thus relevant for the bank regulator.