138 research outputs found

    Governance of production co-operatives in Russian agriculture

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    Many Soviet kolkhozy and sovkhozy were transformed into agricultural production co-operatives, because the farm workers would have had large transaction costs in any other type of organization. These co-operatives still hold a strong market position. This study explores the hypothesis that this market strength could be due to low governance costs, obtained through strong manager power. As managers want the co-operative to survive, they make limited investments in the co-operative and pay low wages. The members, however, do not consider this to be problematic. They appreciate the community within the village, their private plots of land and the co-operative's services. Hence the existence of the co-operatives is not threatened

    Design and baseline characteristics of the finerenone in reducing cardiovascular mortality and morbidity in diabetic kidney disease trial

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    Background: Among people with diabetes, those with kidney disease have exceptionally high rates of cardiovascular (CV) morbidity and mortality and progression of their underlying kidney disease. Finerenone is a novel, nonsteroidal, selective mineralocorticoid receptor antagonist that has shown to reduce albuminuria in type 2 diabetes (T2D) patients with chronic kidney disease (CKD) while revealing only a low risk of hyperkalemia. However, the effect of finerenone on CV and renal outcomes has not yet been investigated in long-term trials. Patients and Methods: The Finerenone in Reducing CV Mortality and Morbidity in Diabetic Kidney Disease (FIGARO-DKD) trial aims to assess the efficacy and safety of finerenone compared to placebo at reducing clinically important CV and renal outcomes in T2D patients with CKD. FIGARO-DKD is a randomized, double-blind, placebo-controlled, parallel-group, event-driven trial running in 47 countries with an expected duration of approximately 6 years. FIGARO-DKD randomized 7,437 patients with an estimated glomerular filtration rate >= 25 mL/min/1.73 m(2) and albuminuria (urinary albumin-to-creatinine ratio >= 30 to <= 5,000 mg/g). The study has at least 90% power to detect a 20% reduction in the risk of the primary outcome (overall two-sided significance level alpha = 0.05), the composite of time to first occurrence of CV death, nonfatal myocardial infarction, nonfatal stroke, or hospitalization for heart failure. Conclusions: FIGARO-DKD will determine whether an optimally treated cohort of T2D patients with CKD at high risk of CV and renal events will experience cardiorenal benefits with the addition of finerenone to their treatment regimen. Trial Registration: EudraCT number: 2015-000950-39; ClinicalTrials.gov identifier: NCT02545049

    Independent café entrepreneurships in Klang Valley, Malaysia – challenges and critical factors for success: does family matter?

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    This article investigates the challenges of Klang Valley's independent cafés at the entry stage, while also identifying their shared critical factors for success and their common practices. A total of five exemplar cases and two coffee industry experts were sampled in a two-phase qualitative approach. A list of eight challenges were identified and thematic analysiswas used to find four critical success factors essential to survive past the entry stage: (1) concept vs. strategies; (2) an extended notion of location selection; (3) building foundations; and (4) family factors and family life-cycle management. By understanding the critical success factors of the exemplar cafés, foodservice entrepreneurs can gain insights on how these factors could be incorporated into their business strategies to survive the entry stage. Moreover, by investigating Klang Valley’s café culture, this study broadens the understanding of Klang Valley's destination characteristics, and provides practical and realistic implications that contribute to the development of Klang Valley through cultural and culinary tourism initiatives

    Board characteristics and the amount of capital raised in the Malaysian IPO market

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    This study examines the impact of board characteristics on the amount of capital raised through an IPO for a sample of 220 Malaysian IPOs over the period of 2005–2015, applying both ordinary least squares (OLS) and quantile regression (QR) techniques. The OLS results show that board with ethnic Malay directors has a significant and positive association with the amount of capital raised, while a weak significance is found for board size. However, the QR results reveal that other than board ethnicity, other board characteristics namely board size, board independence and CEO duality are significantly associated with the amount of capital raised. The additional results suggest that QR provides a more insightful and full picture into the association than does OLS. The overall empirical evidence lends support to the resource dependence role of the board of directors at the time of an IPO

    From Craft to Nature: The Emergence of Natural Teleology

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    A teleological explanation is an explanation in terms of an end or a purpose. So saying that ‘X came about for the sake of Y’ is a teleological account of X. It is a striking feature of ancient Greek philosophy that many thinkers accepted that the world should be explained in this way. However, before Aristotle, teleological explanations of the cosmos were generally based on the idea that it had been created by a divine intelligence. If an intelligent power made the world, then it makes sense that it did so with a purpose in mind, so grasping this purpose will help us understand the world. This is the pattern of teleological explanation that we find in the Presocratics and in Plato. However, with Aristotle teleology underwent a change: instead of thinking that the ends were explanatory because a mind had sought to bring them about, Aristotle took the ends to operate in natural beings independently of the efforts of any creative intelligence. Indeed, he thought that his predecessors had failed to understand what was distinctive of nature, namely, that its ends work from the inside of natural beings themselves
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