1,557 research outputs found

    “Giving better and giving more”? Examining the roles of philanthropy advisors in elite philanthropy

    Get PDF
    Over the past 15 years, philanthropy advisors (PhAds) have grown in prominence within financial institutions, family offices and independent consultancies (Beeston and Breeze 2023; Harrington 2016; Ostrander 2007; Sklair and Glucksberg 2021). More recently, the outbreak of the Covid-19 pandemic has heightened awareness of the significance of philanthropic advisory services within elite philanthropy. Yet the roles and contributions of PhAds remain under-researched, notwithstanding the long-standing interest in unpacking the “black box” of elite philanthropy (Odendahl 1990; Ostrander 2007; Ostrower 1995), particularly in relation to donor-centred philanthropy (Ostrander and Schervish 1990; Ostrander 2007) and elite power, and increased scrutiny of the role of philanthropic intermediaries (Kumar and Brooks 2021) and professional advisors (Harrington 2016) in elite philanthropy. The thesis explores the roles of PhAds by asking three questions: What are the roles of PhAds in elite philanthropy? How do PhAds shape narratives of legitimacy within elite philanthropic practices? And what can analysing the roles of PhAds, in the context of pandemic responses, add to existing understandings of elite philanthropy? To address these questions, the thesis took the form of a multi-method qualitative study, based on 34 interviews with philanthropy practitioners, participant and non-participant observation, and document analysis. The study drew on industry grey literature, comprising online materials that include websites, training materials, handbooks, reports and webinars produced by philanthropy advisors. Data was collected between 2019 and 2021. By incorporating insights from critical elite studies, philanthropic research and examining how philanthropy advisors enable donor-control and elite agency, this thesis advances understanding of the meaning-making processes of philanthropy advisors, by integrating concepts and domains of research on elite identities (Khan 2012; Sherman 2017; Maclean et. al. 2015) and the broader role of philanthropy in legitimising elites and wealth accumulation (Kantola and Kuusela 2019; Harrington 2016; McGoey and Thiel 2018; Sklair and Glucksberg 2021). The research finds that PhAds form part of an emergent industry, acting as brokers, intermediaries and boundary spanners within elite philanthropy. It examines the legitimising accounts (Creed et al. 2002) used by PhAds, to understand how they relate to and shape systems of meaning for the role of philanthropists, philanthropy and themselves (philanthropy advice services). The findings emphasise the central role of social impact claims, with philanthropy advice understood as a way of increasing social impact of philanthropy and with PhAds characterising their roles as enabling clients to “give better and give more”. The thesis discusses PhAds’ understanding of their roles in the identity formation of their clients through a “philanthropic learning journey” – an affective and experiential process that aims at the self-realisation of the philanthropist. This contributes to studies on identity and meaning making in elite philanthropy, highlighting the roles of advisors in the formation of positive wealth identities (Harrington 2016; Maclean et. al 2015; Sklair and Glucksberg 2021). The thesis also explores the ways in which PhAds and philanthropy advice services legitimised the role of elite philanthropy in philanthropic responses to the Covid-19 pandemic. In summary, the project offers two key contributions in building on existing studies of philanthropy advice services and practitioners. Firstly, it provides rich qualitative evidence on under-researched philanthropy advisors and demonstrates their roles as professional enablers of elite philanthropy; and secondly, it expands debates on the legitimising practices of elite philanthropy (McGoey and Thiel 2018; McGoey 2021; Sklair and Glucksberg 2021) by evidencing how donor-centred practices are justified by PhAds as a means to an end

    Household Investment in 529 College Savings Plans and Information Processing Frictions

    Get PDF
    We investigate how information processing frictions contribute to household suboptimal saving and investment behavior. We find that 60% of open accounts in college 529 savings plans are invested suboptimally due to high expenses and tax inefficiency. Such investments yield an expected loss of 9% over the accounts’ projected lifetimes. Consistent with information processing frictions contributing to inefficient investment, the extent of investment in suboptimal home-state accounts decreases with household financial literacy and increases with plan document disclosure complexity. Overall, our results suggest that information processing frictions shape households’ suboptimal investment in college savings plans and reduce their financial well-being

    Expert Ignorance:The Law and Politics of Rule of Law Reform

    Get PDF

    Science and Innovations for Food Systems Transformation

    Get PDF
    This Open Access book compiles the findings of the Scientific Group of the United Nations Food Systems Summit 2021 and its research partners. The Scientific Group was an independent group of 28 food systems scientists from all over the world with a mandate from the Deputy Secretary-General of the United Nations. The chapters provide science- and research-based, state-of-the-art, solution-oriented knowledge and evidence to inform the transformation of contemporary food systems in order to achieve more sustainable, equitable and resilient systems

    Crossing Borders:Liber Amicorum for Professor A.Geske Dijkstra

    Get PDF

    A critical analysis of Islamic financial literacy and Islamic financial inclusion of Thai Muslims in the five southernmost provinces of Thailand

    Get PDF
    Financial literacy is widely recognised as a way to improve quality access to financial services. Nonetheless, the study of Islamic financial literacy can be viewed as a novel concept, particularly in a Muslim minority country. Moreover, research that examines financial literacy and inclusion from an Islamic perspective is still limited. Considering these factors, this study aims to critically assess Islamic financial literacy and inclusion in Thailand's five southernmost provinces as well as identify the means to enhance them. After reviewing the relevant literature, a conceptual framework for Islamic financial literacy, indicators of Islamic financial inclusion, and an extended theory of planned behaviour model were developed to address the research questions. Based on mixed methods research design, a questionnaire and semi-structured interviews were employed to collect quantitative and qualitative data. Then, the obtained data were analysed using descriptive statistics, structural equation modelling, and thematic analysis. The questionnaire and interview results indicate that most Muslims in the area were unaware of Islamic financial products and excluded from Islamic financial services. Then, the analysis of structural equation modelling demonstrates that the integration of Islamic financial literacy as the salient behavioural belief had a significant impact on the attitude to adopt Islamic finance, except for the influence of Islamic money management. The analysis also shows that the predictors of the theory of planned behaviour model were significant determinants of the intention to adopt Islamic finance, despite the fact that attitude and intention had a significant negative relationship. In this regard, the interview data plays a crucial role in supporting the analysis by providing explanations for the influential factors. Drawing upon empirical evidence, the study has proposed proactive policy recommendations to enhance Islamic financial literacy and inclusion among the Muslim population, with the aim to promote a more inclusive and sustainable financial system to benefit the overall economy. Overall, the findings of this study make a valuable contribution to the body of knowledge in terms of contextual, theoretical, and methodological perspectives

    A strategic turnaround model for distressed properties

    Get PDF
    The importance of commercial real estate is clearly shown by the role it plays, worldwide, in the sustainability of economic activities, with a substantial global impact when measured in monetary terms. This study responds to an important gap in the built environment and turnaround literature relating to the likelihood of a successful distressed commercial property financial recovery. The present research effort addressed the absence of empirical evidence by identifying a number of important factors that influence the likelihood of a successful distressed, commercial property financial recovery. Once the important factors that increase the likelihood of recovery have been determined, the results can be used as a basis for turnaround strategies concerning property investors who invest in distressed opportunities. A theoretical turnaround model concerning properties in distress, would be of interest to ‘opportunistic investing’ yield-hungry investors targeting real estate transactions involving ‘turnaround’ potential. Against this background, the main research problem investigated in the present research effort was as follows: Determine the important factors that would increase the likelihood of a successful distressed commercial property financial recovery. A proposed theoretical model was constructed and empirically tested through a questionnaire distributed physically and electronically to a sample of real estate practitioners from across the globe, and who had all been involved, directly or indirectly, with reviving distressed properties. An explanation was provided to respondents of how the questionnaire was developed and how it would be administered. The demographic information pertaining to the 391 respondents was analysed and summarised. The statistical analysis performed to ensure the validity and reliability of the results, was explained to respondents, together with a detailed description of the covariance structural equation modelling method used to verify the proposed theoretical conceptual model. vi The independent variables of the present research effort comprised; Obsolescence Identification, Capital Improvements Feasibility, Tenant Mix, Triple Net Leases, Concessions, Property Management, Contracts, Business Analysis, Debt Renegotiation, Cost-Cutting, Market Analysis, Strategic Planning and Demography, while the dependent variable was The Perceived Likelihood of a Distressed Commercial Property Financial Recovery. After analysis of the findings, a revised model was then proposed and assessed. Both validity and reliability were assessed and resulted in the following factors that potentially influence the dependent variables; Strategy, Concessions, Tenant Mix, Debt Restructuring, Demography, Analyse Alternatives, Capital Improvements Feasibility, Property Management and Net Leases while, after analysis, the dependent variable was replaced by two dependent variables; The Likelihood of a Distressed Property Turnaround and The Likelihood of a Distressed Property Financial Recovery. The results showed that Strategy (comprising of items from Strategic Planning, Business Analysis, Obsolescence Identification and Property Management) and Concessions (comprising of items from Concessions and Triple Net Leases) had a positive influence on both the dependent variables. Property Management (comprising of items from Business Analysis, Property Management, Capital Improvements Feasibility and Tenant Mix) had a positive influence on Financial Turnaround variable while Capital Improvements Feasibility (comprising of items from Capital Improvements Feasibility, Obsolescence Identification and Property Management) had a negative influence on both. Demography (comprising of items only from Demography) had a negative influence on the Financial Recovery variable. The balance of the relationships were depicted as non-significant. The present research effort presents important actions that can be used to influence the turnaround and recovery of distressed real estate. The literature had indicated reasons to recover distressed properties as having wide-ranging economic consequences for the broader communities and the countries in which they reside. The turnaround of distressed properties will not only present financial rewards for opportunistic investors but will have positive effects on the greater community and economy and, thus, social and economic stability. Vii With the emergence of the COVID-19 pandemic crisis, issues with climate change and sustainability, global demographic shifts, changing user requirements, shifts in technology, the threat of obsolescence, urbanisation, globalisation, geo-political tensions, shifting global order, new trends and different generational expectations, it is becoming more apparent that the threat of distressed, abandoned and derelict properties is here to stay, and which will present future opportunities for turnaround, distressed property owners, as well as future worries for urban authorities and municipalities dealing with urban decay. The study concluded with an examination of the perceived limitations of the study as well as presenting a comprehensive range of suggestions for further research.Thesis (PhD) -- Faculty of Engineering, Built Environment and Information Technology, School of the built Environment, 202
    • 

    corecore