Financial & business Assistance Bulletin, January 2013

This as a year of continuity and ongoing success for the Financial and Business Assistance (FABA) Section. Whether we were providing financial and technical assistance services through our existing programs or new ones, we worked to create public-private partnerships that have a positive impact to Iowa’s economy and environment.

Financial & business Assistance Bulletin, August 2013

Financial and business assistance bulletin from the Iowa Department of Natural Resources.

Financial & business Assistance Bulletin, January 2014

Financial and business assistance bulletin from the Iowa Department of Natural Resources.

Interlocking directorates and conflicts of interest: The Rotterdamsche Bankvereeniging, Müller & Co. and the Dutch financial crisis of the 1920s

How can interlocking directorates cause financial instability for universal banks? A detailed history of the Rotterdamsche Bankvereeninging in the 1920s answers this question in a case study. This large commercial bank adopted a new German-style universal banking business model from the early 1910s, sharing directors with the firms it financed as a means of controlling its interests. Then, in 1924, it required assistance from the Dutch state in order to survive a bank run brought on by public concerns over its close ties with Müller & Co., a trading conglomerate that suffered badly in the economic downturn of the early 1920s. Using a new narrative history combined with an interpretive model, this article shows how the interlocking directorates between the bank and this major client, and in particular the direction of influence of these interlocks, resulted in a conflict of interest that could not be easily overcome.

Understanding the financial status of a group of high performance athletes

With the 2010 Vancouver Winter Olympic Games quickly approaching, there has been a heightened interest in the performance of Canadian athletes at international competitions (Duffy, 2007; Fidlin, 2005; Longley, 2006). Two significant documents outline Canada's goal to become the number one sporting nation at the 2010 Olympic Games, and improve Canada's performance at the 2008 Olympic Games: Own the Podium and Road to Excellence (Priestner Allinger & Allinger, 2004; Road to Excellence, 2006). These two documents represent heightened interest in the performance of our elite athletes, in conjunction with Canada's hosting status of the Vancouver 2010 Winter Olympic Games. The requirements to train and compete at the international level have become more demanding both in terms of financial resources and time commitment. The need to financially assist athletes with their training and competition costs has been an important topic of debate over the past decades (Beamish & Borowy, 1987; Gatehouse, 2004; Macintosh, 1996; Munro, 1970; Owens, 2004). Two sources of fiinding for high performance athletes in Canada are the Athlete Assistance Program (AAP) provided by the Federal Government and the Canadian Olympic Excellence Fund provided by the Canadian Olympic Committee. The importance of these fiinds for athletes has been discussed in various forums (Ekos, 1992, 1997, 2005; Priestner Allinger & Allinger, 2004; Thibault «& Babiak, 2005). However, alternative sources of funds for high performance athletes have never been the object of research. As such the purpose of this study was to describe a group of athlete applicants from the time period of November 2004 to April 2006, and to contextualize these applications within the development of the Charitable Fund for Athletes.

The implications for the EU and national budgets of the use of EU instruments for macro-financial stability. CEPS Special Report, 4 September 2012

The euro crisis has forced member states and the EU institutions to create a series of new instruments to safeguard macro-financial stability of the Union. This study describes the status of existing instruments, the role of the European Parliament and how the use of the instruments impinges on the EU budget also through their effects on national budgets. In addition, it presents a survey of other possible instruments that have been proposed in recent years (e.g. E-bonds and eurobonds), in order to provide an assessment of how EU macro-financial stability assistance could evolve in the future and what could be its impact on EU public finances.

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.

Financialisation of official development assistance

Official Development Assistance is a significant global enterprise. Organsiations engaged in funding and implementing ODA (the bilateral donors, multilateral organsiations such as the World Bank and IMF) have unprecedented political and economic influence over a large number of sovereign developing countries. This paper analyses if, and how financialisation impacts on development aid, and implications for effective aid policy agendas, drawing on and linking critical debate on finacialisation, and ODA. Subsequent to the Global Financial Crisis (GFC) and the persistence of the European Monitory Crisis (EMC), specific needs of developing countries became increasingly sub-ordinated to political and ideological power relations between ‘real’ economics and financial economics otherwise known as financialisation. The paper finds ‘financialisation’ as the ideological, political and economic catalyst for economic growth potentially confusing long-term development to combat poverty, and a short term need to overcome the lack of financial capacity in developing recipient countries. Sustainable economic development requires developing countries to forsake the pursuit of financialisation and to re-delineate their national finance, trade and investment regimes, and re-state it in a balanced manner as to take into account their unique economic development needs rather that the donor agencies’ demands and to advance their own ‘real’ economies.

Socioeconomic, financial and production infrastructure profile of farmers in rural settlements in the western region of the state of São Paulo, Brazil

Family agriculture, mostly represented by rural settlements especially in the state of São Paulo, makes up rural establishments in Brazil. Current investigation collects, analyzes and compares data on farmers on two rural settlements in the western region of the state of São Paulo, specifically in the municipality of Rancharia, with regard to their socioeconomic, financial and productive infrastructure profile, coupled to information on eventual restrictions to rural credit, by an analysis based on descriptive statistics. Results show that there are different factors between farmers and production systems, which cause loan restrictions due to such differences as age, agricultural and cattle-breeding activity, technical assistance and management. The valorization of these differences should be taken into account for the construction of new events, without extremes, and work for situations featuring demand-based development and characteristics of the locality

Functional capacity and assistance from the caregiver during daily activities in Brazilian children with cerebral palsy

Abstract Background Cerebral Palsy (CP) presents changes in posture and movement as a core characteristic, which requires multiprofessional clinical treatments during children’s habilitation or rehabilitation. Besides clinical treatment, it is fundamental that professionals use evaluation systems to quantify the difficulties presented to the individual and their families in their daily lives. We aimed to investigate the functional capacity of individuals with CP and the amount of assistance required by the caregiver in day-to-day activities. Methods Twenty patients with CP, six-year-old on average, were evaluated. The Pediatric Evaluation Inventory of Incapacities was used (PEDI - Pediatric Evaluation Disability Inventory), a system adapted for Brazil that evaluates child's dysfunction in three 3 dimensions: self-care, mobility and social function. To compare the three areas, repeated measures analysis of variance (ANOVA) were used. Results We found the following results regarding the functional capacity of children: self-care, 27.4%, ±17.5; mobility, 25.8%, ±33.3 and social function, 36.3%, ±27.7. The results of the demand of aid from the caregiver according to each dimension were: self-care, 9.7%, ±19.9; mobility, 14.1%, ± 20.9 and social function, 19.8%, ±26.1. Conclusion We indicated that there was no difference between the performance of the subjects in areas of self-care, mobility and social function considering the functional skills and assistance required by the caregiver.

The influence of ideological interest groups on congressional financial support of international family planning

The World Health Organization estimates there are about 585,000 maternal deaths each year, with 98% of the maternal deaths in developing countries. Access to family planning methods is one method to decrease maternal mortality and morbidity. ^ The U.S. was the leader in providing financial and technical assistance to developing countries to enable women to have this access. The election of Ronald Regan changed the course of U.S. support; abortion became a central factor in the political decision-making with regards to the financial support of international family planning. ^ One factor that may sway policy-makers' decisions is the influence of ideological interest groups, Political Action Committees funding of candidates in relation to votes on bills that impacted on financial support of international family planning and the amount spent by these groups on lobbyist was reviewed. Pro-choice funding of candidates was greater for the four of the fives votes supporting family planning. Pro-Choice lobbyist spending was $185,000 vs. $8,184,000 spent by Pro-Life ideological groups. ^

Exploring the use of pharmaceutical patient assistance programs as an option to improve access to and affordability of prescription drugs

Background. Pharmaceutical-sponsored patient assistance programs (PAPs) are charity programs that provide free or reduced-priced medications to eligible patients. PAPs have the potential to improve prescription drug accessibility for patients but currently there is limited information about their use and effectiveness. ^ Objectives and methods. This dissertation described the use of PAPs in the U.S. through the conduct of two studies: (1) a systematic review of primary studies of PAPs from commercially-published and “grey” literature sources; and (2) a retrospective, cross-sectional study of cancer patients' use of PAPs at a tertiary care cancer outpatient center. ^ Results. (1) The systematic review identified 33 studies: 15 evaluated the impact of PAP enrollment assistance programs on patient healthcare outcomes; 7 assessed institutional costs of providing enrollment assistance; 7 surveyed stakeholders; 4 examined other aspects. Standardized mean differences calculated for disease indicator outcomes (most of which were single group, pre-posttest designs) showed significant decreases in glycemic and lipid control, and inconsistent results for blood pressure. Grey literature abstracts reported insufficient statistics for calculations. Study heterogeneity made weighted summary estimates inappropriate. Economic analyses indicated positive financial benefits to institutions providing enrollment assistance (cost) compared to the wholesale value of the medications provided (benefit); analyses did not value health outcomes. Mean quality of reporting scores were higher for observational studies in commercially-published articles versus full text, grey literature reports. (2) The cross-sectional study found that PAP outpatients were significantly more likely to be uninsured, indigent, and < 65 years old than non-PAP patients. Nearly all non-PAP and PAP prescriptions were for non-cancer conditions, either for co-morbidities (e.g., hypertension) or the management of treatment side effects (e.g., pain). Oral chemotherapies from PAPs were significantly more likely to be for breast versus other cancers, and be a newer, targeted versus traditional chemotherapy.^ Conclusions. In outpatient settings, PAP enrollment assistance plus additional medication services (e.g., counseling, reminders, and free samples) is associated with improved disease indicators for patients. Healthcare institutions, including cancer centers, can offset financial losses from uncompensated drug costs and recoup costs invested in enrollment assistance programs by procuring free PAP medications. Cancer patients who are indigent and uninsured may be able to access more outpatient medications for their supportive care needs through PAPs, than for cancer treatment options like oral chemotherapies. Because of the selective availability of drugs through PAPs, there may be more options for newer, oral, targeted chemotherapies for the treatment breast cancer versus other for other cancers.^

The New Instrument for Pre-Accession Assistance (IPA II): Less Accession, More Assistance?. EIPA Working Paper 2014/W/01

The EU enlargement engine seems to have run out of political steam. Support within the member countries for future enlargement is at all-time low, while some of the candidate countries have also seemed to put the enlargement process on the backburner. However, at least rhetorically, the EU is still committed to the enlargement process and maintains its entire enlargement tool box, such as the Instrument for Pre-Accession (IPA) – one of the most important EU external financial instruments. The new IPA regulation (IPA II), adopted in March 20141, clearly reflects the fact that the enlargement process is on a holding pattern.