Professional artists in Vietnam : intellectual property rights, economic and cultural sustainability

The article outlines the legal context for Vietnamese artists that is not discussed in other literature, including the scarcity of data on the art market, the reasons for failure to enforce intellectual property (IP) rights and legal contracts, and the rapid growth of private-sector art dealing that makes an examination of the legal context so essential. The author's field research in Vietnam since 2003 is linked to analyses of Vietnam's art market and to civil codes and other international agreements that determine professional artists’ IP rights. This illustrates the reasons why IP rights have not been enforced or arbitrated in Vietnam. The author includes a discussion of the importance of enforcing IP law for the maintenance of artists’ incomes and careers, the development of a national art market, and for innovation and cultural sustainability in Vietnam.

Investigating health, economic and socio-political factors that need consideration when establishing Victorian Aboriginal land management projects

This article focuses on three Victorian Aboriginal¹ groups (Bangerang, Boonwurrung and Yorta Yorta) to explore elements that provide or discourage development of land management projects. Results from this small qualitative study show that a number of distinct health, socio-political and economic factors need to be considered when developing Aboriginal land management projects. This study indicates that a greater involvement in Aboriginal land management projects -- critical to Aboriginal peoples' health, economic and social structures - will only occur through increased community consultation, respect, training, consistency between all stakeholders involved, resources and the provision of employment opportunities. Further research is required to strengthen this evidence, allowing policy-makers to be progressive when developing land management projects for Aboriginal Victorian people as a health promoting tool.

Has international trade in saving improved US economic welfare?

Over the past decade international policy-makers have perceived the current account deficit of the world's largest foreign borrower economy, the United States, as a threat to global economic and financial stability. Yet, by bridging the US domestic saving-investment gap, capital inflow that matched the huge US current account deficit also enabled a faster rate of domestic capital accumulation than home saving alone would have permitted. Consistent with the theory of international capital movements, this study identifies and compares the respective contributions of domestic and foreign saving to US gross domestic product per worker over the two decades prior to the onset of the US banking crisis. By revealing that foreign borrowing contributed significantly to raising US output and hence living standards over this period, it adds a new dimension to the debate about global imbalances.

Meeting the challenge of establishing commercial mohair enterprises by building an interactive enterprise management and financial model

To assist in attracting investors into mohair production in Australia, a production and financial model was built as a learning and support tool. The work aimed to reduce search time and thinking costs about the impact of management strategies on financial feasibility. Various management strategies and assumptions applied to a case study with 300 breeding Angora does and eight variations. The results showed an internal rate of return for mohair ranging from 9.3% to 21.2% over 12 years, a median gross margin per effective hectare ranging from $82 to $167, cash at bank in year 12 ranging from $8,700 to $56,800 and net enterprise assets ranging from $69,900 to $155,700. A key benefit of the model was its ability to allow new farmers to explore potential management strategies and their assumptions about a future enterprise before investing.

Foundation evidence of the relationship between entrepreneurs, financial issues and financial advisers

In this study financial advisers’ relative influence on entrepreneurs’ decisions have been investigated. Financial advisers are advisers, included in entrepreneurs’ discussion networks, with whom entrepreneurs discuss financial issues. The concept of financial adviser includes a range of different people with different functions, irrespective of whether these people provide the entrepreneur with finance or not. It may include people such as venture capitalists, business angels, bankers, accountants, advocates or management advisers. Based on follow-up surveys completed in relation to the Danish participation in Global Entrepreneurship Monitor (GEM), it was found that financial advisers only play a minor role in the two early phases of the entrepreneurial process before the venture is actually started. Entrepreneurs might have relationships with financial advisers in these stages, but only few of them are included in the discussion network. It was further revealed that the ties between financial advisers and entrepreneurs often are weaker than the ties entrepreneurs have with others in their discussion network. Two practical implications for financial advisers emerged from the study. First, they need to re-consider their role in the early phases of the entrepreneurial process in order to increase their influence and benefit from the co-operation. Second, they need to find a way to create a closer relationship with the entrepreneurs they advise.

Market liquidity risk factor and financial market anomalies : evidence from the Chinese stock market

The Chinese stock market is an order-driven market and hence its characteristics are structurally different from quote-driven markets. There are no studies that consider the role of the market liquidity risk factor in determining cross-sectional stock returns in a model including financial market anomalies for order-driven markets. Our aim is to test whether financial market anomalies such as firm size, the book-to-market ratio, the turnover rate, and momentum both with and without the inclusion of the market liquidity risk factor in the case of the Chinese stock market can explain cross-sectional stock returns. The empirical framework is based on the model proposed by Avramov and Chordia (AC, 2006). Our main finding is that the AC model can capture financial market anomalies except momentum when we include the market liquidity risk factor on the Chinese stock market.

Socio-economic and demographic variations in school lunch participation of French children aged 3-17 years

Objective: To assess school canteen attendance in a French nationally representative sample of children and to analyse its association with the socioeconomic and demographic characteristics of the children and their families.
Design: Data from the second French national cross-sectional food consumption survey (INCA2), performed in 2006–2007, were used. Information on usual weekly school canteen attendance was collected through a self-reported questionnaire, and demographic and socio-economic variables through a face-to-face questionnaire. The associations between school canteen attendance and the socio-economic and demographic variables were investigated by multivariate logistic regression analyses.
Setting: The INCA2 sample was representative of the children aged 3–17 years in France.
Subject: Analysis was performed on 1413 schoolchildren who completed the school canteen attendance questions.
Results: Some 65?6% of schoolchildren aged 3–17 years had school lunch at least once weekly. This rate of attendance was positively correlated with age. Whatever the school level, school canteen attendance was positively associated with the educational level of the caregiver/parent. In pre- and elementary-school children, enrolment at the school canteen was also higher when the caregiver/parent worked, or in single-parent families. In secondary-school children, school lunch participation decreased with children living in more densely populated areas and increased with the level of the household’s living standards.
Conclusions: School canteen attendance was positively associated with children’s socio-economic background. This could reduce the effectiveness of the forthcoming school meal composition regulations designed to improve the diet of children from deprived backgrounds, who are more likely to have unhealthy food habits.

Aligning anti-money laundering, combating of financing of terror and financial inclusion : Questions to consider when FATF standards are clarified

Purpose – The purpose of this paper is to identify key questions that should be addressed to enable the Financial Action Task Force (FATF) to provide guidance regarding the alignment of anti-money laundering, combating of financing of terror and financial inclusion objectives.
Design/methodology/approach – The paper draws on relevant research and documents of the FATF to identify questions that are relevant to consider when it formulates guidance regarding the alignment between financial integrity and financial inclusion objectives.
Findings – The FATF advises that its risk-based approach enables countries and institutions to further financial inclusion. It is, however, not clear what the FATF means when its uses the terms “risk” and “low risk”. It is also unclear whether current proposals for financial inclusion regulatory models will necessarily limit money laundering (ML) aswell as terror financing risks to levels that can be described as “low”. The FATF will need to clarify its own thinking regarding low money laundering and low terror financing risk before it will be able to provide clear guidance to national regulators and financial institutions.
Originality/value – This paper was drafted to inform current FATF discussions regarding guidance on financial inclusion. The questions are relevant to all stakeholders in financial regulation.

Financial inclusion and financial integrity : aligned incentives?

A large percentage of the population in developing countries saves, remits money or accesses credit using informal financial services. Financial inclusion initiatives aim to expand the reach and attractiveness of formal financial services. Recently, the Financial Action Task Force embraced financial inclusion as complementary to anti-money laundering and counter-terrorist financing as it enhances financial transparency. Analyzing preliminary data from FinScope surveys on eight African countries we argue that an increase in access to formal services does not automatically imply an immediate and corresponding reduction of usage of informal services, especially as many individuals use informal and formal services in parallel. We consider customer trade-offs regarding the use of formal and informal services especially considering transparency as a potential disincentive to use formal services. The alignment of financial inclusion and integrity will fail where customers are apprehensive about increased transparency.

Environmental sustainability orientation and financial resources of small manufacturing firms in the Philippines

Purpose - This study challenges the conventional view that resources determine the extent of environmental sustainability orientation (ESO) of small firms in a developing Southeast Asian country context. First, this study attempts to develop a measurement model of ESO of small firms in the manufacturing sector in the Philippines. Second, the study explores the impact of the financial resources on the ESO of firms.

Design/methodology/approach - The study uses survey data from 166 small manufacturing firms in three Philippine cities. Multiple regression modelling is used to estimate the relationships between firm resources and ESO.

Findings - The results indicate that ESO is a multi-dimensional construct with three facets: awareness of, actions for, and appreciation of environmental sustainability. The empirical evidence does not support the conventional firm resources – ESO proposition.

Research limitations/implications - A proactive ESO is not necessarily beyond the reach of resource-constrained small firms. The generalisability of the findings however is limited to small manufacturing firms in the Philippines.

Practical implications - This study informs owner-managers of small firms that a proactive ESO does not largely depend on financial resources. Government policies and programs to encourage small firms to become sustainable should not only focus on financial forms of assistance.

Originality/value -  To date, this is the only Philippine-based study and one of the scarce small firm-focused studies that examine the proposition that small firms are unable to pursue a proactive ESO due to resource-constraints.

Leadership in pursuit of purpose : social, economic and political transformation

This chapter critiques the field of educational administration and leadership from a feminist perspective,. It argues that leadership should focus on social justice and this requires wider transforantive social, economic and political  change.