Pakistani Venture Capitalists' Investment Criteria: A Comparative Look

This paper has two objectives. First, it identifies investment criteria used by Pakistani venture capitalists (VCs) in the investment evaluation process. Second, it analyses how Pakistan VCs decision policies differ from their US and Indian counterparts. It is found that among Pakistani VCs, the factors related to the entrepreneur and management team are considered predominant and decisive in making investment decisions. Pakistani VCs rely heavily on a relationship-based approach in decision policies and may gradually move to a market-based approach once the economy's formal institutions attain stability. A relationship-based approach focusing on social networks can help substitute for formal institutions such as law, regulation and enforcement, which would facilitate the process of financial and non-financial transactions in the operation of venture capital markets in emerging economies. The differences I observed among US, Indian and Pakistani VCs decision policies regarding the use of investment evaluation criteria reflect the differences in institutional contexts. Moreover, I draw on agency theory to further view my survey results regarding the venture capital market in Pakistan. The results are in line with agency theory prescriptions that a relationship-based approach may be better suited to mitigate the agency problem, particularly adverse selection and moral hazard problems, by implementing the four prescriptions proposed by Ian and Peter (1994)

Territorial cooperation: analysis of the social capital and local governance of the Furniture Cluster of the Southwest of Paraná

One of the strategies indicated in academic research on regional development corresponds to geographically concentrated productive agglomerations, based on the organization of network agents to obtain competitive advantages through territorial cooperation practices. In this sense, the article aimed to analyze the social capital and the conduction of local governance in the context of the Cluster of Furniture of the Southwest of Paraná. The present research is classified as exploratory descriptive, with a quanti-qualitative approach, based on the method of documental analysis and structured interviews. The questionnaire was the main instrument of data collection in a research with the set of agents of the productive arrangement, including nineteen cluster business owners, five support agents and local governance. The results of the research pointed to good levels of social capital in the analyzed cluster, with positive indicators regarding the degree of contribution in the relationship, trust and cooperation between the agents, in the quality and usefulness of the information exchanged. The metrics of the social network (density and reciprocity) resulted in median values, while the question of participation in meetings obtained the worst results. Regarding the evaluation of local governance, all elements analyzed resulted in values considered to be weak. In summary, the evaluation of the binomial social capital and local governance has shown that for the effective execution of joint actions in line with territorial cooperation practices, it is fundamental to have a more active local governance in the management of cluster

Goodbye to Projects? Working paper 1: Annotated bibliography on livelihood approaches and development interventions.

YesThis paper is one in a series of working papers prepared under a research project on Goodbye to Projects? The Institutional Impacts of a Livelihood Approach on Projects and Project Cycle Management. This is a collaborative project between the Bradford Centre for International Centre for Development (BCID) with the Economic and Policy Research Centre (EPRC), Uganda; Khanya ¿ managing rural change, South Africa; and, the Institute for Development Management (IDM), Tanzania. The project is supported by the UK Department for International Development (DFID) under their Economic and Social Research Programme (ESCOR).Department for International Developmen

Transforming Philanthropic Transactions

Evaluates the approach and effectiveness of SVP's first five years working to inspire philanthropy and volunteerism and build organizational capacity among nonprofits. Describes SVP's model that fuses donor education and capacity building activities

Prosper. An evaluation of tourism's contribution to regional economies

Prosper has delivered a three part model for assessing and enhancing the value of tourism in regional areas. The first part of the model uses simple indicators to provide an assessment of the economic, social, and environmental value attached to tourism. An indicators approach was adopted following extensive review of the application of more complex approaches to regional economic analysis. The review found that complex approaches are unlikely to produce results of sufficient validity and applicability to warrant their high resource costs (time, money, and skills). Complex models are also more difficult to maintain. The economic value is represented through quantitative indicators relating to employment and the number of businesses in tourism related sectors. These are all relative indicators (for example, proportion of all businesses which are businesses in the tourism sector or proportion of change in employment that can be attributed to change in tourism related employment). These indicators are drawn from national data sets which provide information for statistical local areas and/or postcode areas. This offers the opportunity to develop and deliver consistent national profiles through a vehicle such as Decipher. National standard data sets are supplemented in the model by more qualitative assessments of tourism’s contribution to the local economy made by business operators through interviews or surveys. Again, tracking the change in these assessments over time is the key to the model. Social and environmental values are substantially more difficult to assess. The Prosper case studies have included qualitative assessments derived from business and community meetings, local government and other administrative documents, media and a simplified network analysis identifying the extent to which community based organisations interact with the delivery of tourism services. Data sets have been identified which would allow a quantitative analysis of the extent to which tourism activity (visitor movements, business activity, business construction) encroaches on environmentally sensitive areas or is responsible for redevelopment or preservation of built environments. The case studies have not been able to implement this quantitative analysis. The second part of the model conducts a ‘diagnostic’ assessment of the capacity in the region to harness the value of tourism through innovation. Innovation is seen as a very important mechanism for both identifying regional issues and developing responses to those issues. Innovation is widely accepted in the literature as a driver of economic growth, and concepts such as ‘systems of innovation’ and ‘regional systems of innovation’ have become common in understanding how that innovation can be encouraged and placed within technical or geographical contexts. The diagnostic element of the Prosper model uses a series of techniques (including historical document analysis, interviews, and network analysis) to investigate the characteristics of region’s human tourism resources in relation to their ‘innovation potential’. Innovation potential is influenced by: • Economic competence – the extent to which those resources include capacity to manage projects and implement new ideas; • Clustering of resources – the spatial relationships between tourism attractions and amenities and nontourism amenities and resources which may be critical in the delivery of tourism product; • Networks – the social and professional relationships between tourism attractions and amenities and nontourism amenities and resources which may be critical in the delivery of tourism product; • Development blocks – the existence of sufficient new resources or new ways of looking at existing resources to provide opportunities for innovation. Development blocks need also to be a source of tension or disequilibrium so that their use is contested and therefore options more likely to be scrutinized as to their viability; • Entrepreneurship – the capacity for human resources to engage in new tasks and drive activity; • Critical mass – the relationship between the capacity to supply tourism product, and the capacity to access sufficient and appropriate markets (including resident markets) to support ongoing supply; • Local government – the extent to which local government considers tourism an important issue and is willing to engage in the innovation process • Production and distribution of knowledge – the extent to which the history and current status of tourism is understood and communicated, and the degree to which stakeholders can access and apply new information for identifying the potential or need for change, assessing the viability of projects, and evaluating activities; • Social, political and cultural capital – the strength of the social, political and cultural environments, and the degree to which those environments can be effectively harnessed to support tourism innovation. The third part of the model uses ‘visioning’ techniques (drawing in part on experiences from Sustainable Tourism CRC projects on ‘Gold Coast Visioning’ led by Professor Bill Faulkner at Griffith University, and research by Walker, Lee, Goddard, Kelly & Pedersen, 2005) to engage stakeholders in developing strategies for identifying tourism value issues (based on the community awareness of the value of tourism, aspirations for enhancing value, and strategies for addressing deficiencies in innovation potential). A number of processes are available for applying visioning techniques. Our case studies typically involved community leaders accepting ownership of the results of the application of the first components of the model and, in a facilitated or nonfacilitated way, delivering these results broadly through the community. In some cases, strategies emerged entirely from within the region, while in others, the research team was further engaged to collate strategy suggestions and summarise the arguments attached to these suggestions. In most cases, the final case study write-up included reference to suggestions which appeared likely to be carried forward. The Prosper model was tested in thirteen case studies, not simply to establish whether the relationships hypothesized between innovation potential and harnessing the value of tourism could be observed, but also to establish to extent to which participating regions viewed the application of the model as important and worthwhile in their attempts to move forward. The case studies were a mix of five new studies conducted using the Prosper model in a direct way and meta-analysis of eight previous case studies. The short time frame for the research (2 and ½ years) and the relatively long term nature of change made it impossible to design the research to evaluate the success of the strategies developed or any specific innovations in new case studies, so the metaanalysis studies were significant in this respect. The case studies strongly supported the second part of the model in particular, and the research served as an influential tool for many of the case study communities who were able to implement programs of value monitoring (through quantitative or qualitative means), identify ways in which their systems of innovation could be strengthened, and develop context specific mechanisms for identifying and assessing the feasibility of tourism development proposals. The research has delivered a number of outputs which may be used in dissemination and commercialisation of the intellectual property. A stand-alone publication reviewing the applicability of various economic value assessment techniques to regional tourism has been produced. A quick guide to the Prosper model and assessing whether application of the model would assist a particular region has been drafted, and is slated for development in collaboration with Sustainable Tourism CRC. A detailed methodology specification has been prepared, and may be used as the basis of consulting services or the conduct of further case studies. The quantitative data sets (Census, Sensis, TTF employment analysis, labour force statistics etc.) may be made available through Decipher and included in a structured Decipher product which facilitates analysis and interpretation. A book containing research results of the thirteen case studies and an overview of the relationship between those case studies and the Prosper model has been edited by Dean Carson and Dr Jim Macbeth and has been submitted to the Sustainable Tourism CRC editorial team led by Professor Chris Cooper at the University of Queensland

Priorities in public relations research: An international Delphi study

A Delphi study on the priorities for public relations research, conducted in 2007 amongst academics, practitioners and senior executives of professional and industry bodies in five continents, has ranked the ten most important topics for research and proposed the associated research questions. This is the first completed Delphi study into public relations research since Synnott and McKie (1997) which was itself a development of earlier studies of this type by McElreath (1980, 1989 and 1994). Some of the outcomes are comparable with the earlier studies; for instance, evaluation of public relations programmes ranks third in 2007 and was amongst the leaders in the Synnott and McKie (1997) study. After piloting, twenty six public relations topics were chosen. These were sent by email to the Delphi panel. After three rounds of intensive email debate, the Top Ten public relation research topics were in ranked order: 1) Public relations’ role in contributing to strategic decision-making, strategy development and realisation, and organisational functioning 2) The value that public relations creates for organisations through building social capital, managing key relationships and realising organisational advantage 3) The measurement and evaluation of public relations, both offline and online 4) Public relations as a fundamental management function 5) Professional skills in public relations; analysis of the industry’s need for education 6) Research into standards of performance among PR professionals; the licensing of practitioners 7) Management of corporate reputation; measurement of reputation 8) Ethics in public relations 9) Integration of public relations with other communication functions; the scope of public relations practice; discipline boundaries 10) Management of relationship

What works? A review of actions addressing the social and economic determinants of Indigenous health

Introduction: The purpose of this paper is to review evidence relating to ‘what works’ to influence the social and economic determinants of Indigenous health, in order to reduce health inequities, and ultimately contribute to closing the life expectancy gap between Indigenous and non-Indigenous Australians. We outline a conceptual framework for understanding how social and economic determinants influence health and wellbeing, and identify a number of key determinants of health. We review evidence relating to how each determinant is associated with Indigenous health and wellbeing, and then consider specific actions designed to improve Indigenous outcomes in each of these areas in order to determine the characteristics of successful initiatives. Based on our conceptual framework, we link successful actions which result in positive outcomes for Indigenous Australians in each of the key determinants to ultimately improving health and wellbeing and contributing towards ‘closing the gap’ in health and wellbeing. We note that many actions we consider only aim to improve the situation for Indigenous Australians in regard to that specific area (for example, education, housing) and were not devised to take direct action to improve health, even though the evidence indicates that those actions may be likely to contribute to improved health over the longer term

Public relations research priorities: a Delphi study

Purpose – The purpose of this paper is to identify and rank the most important topics for research in the field of public relations. An associated outcome was to propose the research questions most closely linked to the prioritised topics. Design/methodology/approach – An international Delphi study on the priorities for public relations research, conducted in 2007 amongst academics, practitioners and senior executives of professional and industry bodies was used to investigate expert opinion on research priorities for public relations. This choice of qualitative methodology replicated earlier studies by McElreath, White and Blamphin, Synnott and McKie, and Van Ruler et al. Findings – The role of public relations in the strategic operation of organisations, and the creation of value by public relations through social capital and relationships were ranked most highly. Some outcomes were comparable with earlier studies; for instance, evaluation of public relations programmes ranked third in this study and was amongst the leaders in the Synnott and McKie study. Only the topic “management of relationships” was wholly new, whereas “impact of technology on public relations practice and theory” ranked much lower than a decade ago. Research limitations/implications – The Delphi study method is a small scale qualitative process which limits generalisability, unless the choice of “experts” and their active participation can demonstrate that there is validity in its outcomes. Practical implications – The research gives valuable insight into the main public relations research areas and will allow academics and practitioners to work closely together to improve understanding of public relations. Originality/value – This is the first completed Delphi study into public relations research priorities since Synnott and McKie

ILR Research in Progress 2011-12

The production of scholarly research continues to be one of the primary missions of the ILR School. During a typical academic year, ILR faculty members published or had accepted for publication over 25 books, edited volumes, and monographs, 170 articles and chapters in edited volumes, numerous book reviews. In addition, a large number of manuscripts were submitted for publication, presented at professional association meetings, or circulated in working paper form. Our faculty's research continues to find its way into the very best industrial relations, social science and statistics journals.Research_in_Progress_2011_12.pdf: 46 downloads, before Oct. 1, 2020

A Practical Guide to Planning and Executing and Impactful Exit

The first objective of this manual is to provide Venture Philanthropy/Social Investment practitioners with an important tool to assist them in their daily activities and thus enhance the effectiveness of their work. The second objective is to increase the transparency and accountability of the Venture Philanthropy/Social Investment sector. This manual should be useful for both experienced Venture Philanthropy Organisations that want to reflect on how to exit their investments while maximising and sustaining the impact achieved, and for organisations approaching VP, which can learn from the experience of VP/SI practitioners