Executive Incentives and Capital Structure

Through a dynamic panel data analysis of a sample of Nordic firms we investigate how executives stock and option incentives influence the choice of capital structure. In addition, we look at how equity ownership by a large external shareholder influences the incentives effect on capital structure. Our results show that options have a negative effect on debt level, while stock holdings influence is more diffuse. We also see that only options have both a statistical and economical significant impact on leverage, and therefore operate as a stronger incentive than stocks. No significant dependency is found between the size of the largest external shareholder and the incentives effect on capital structure. Still, we see a weak trend indicating that the effect of equity based incentives is stronger when firms largest shareholders are institutional

Understanding the implementation and sustainability needs of evidence-based programs for racial and ethnic minoritized older adults in under-resourced communities with limited aging services

BackgroundEvidence-based programs (EBPs) for older adults effectively improve health outcomes. However, there is a limited understanding of the unique needs of service providers as they consider adopting, implementing, and maintaining programs for older minority adults in low-income communities with limited aging services.MethodsWe conducted semi-structured interviews with key informants of community-based organizations (CBOs) to understand implementation and sustainability needs of CBOs within four racial and ethnically diverse Los Angeles County geographic areas. We performed thematic analysis of interview transcripts.ResultsInterviews were conducted with representatives from 25 senior-serving agencies providing aging-related EBPs. CBO representatives reported implementing EBPs in 8 domains: Falls Prevention (68%), Mental Health (64%), Caregiver Health (48%), Chronic Disease Management (48%), Diabetes Management (36%), Arthritis Management (28%), Physical Activity (24%), and Multiple Conditions Management (8%). Themes are presented using the six domains of the Bass and Judge framework for factors impacting successful and sustained EBP implementation. CBOs in low-income and diverse communities described unique challenges with tailoring interventions based on local community context (literacy, language), cultural context, and locally available resources (technology, safe community spaces, transportation) and faced resource-intensive administrative burdens through staff turnover, data collection, sustainable funding, and networking.ConclusionsServing racial and ethnic communities has unique challenges that require tailored approaches and additional resources to ensure equitable access to EBPs for all communities. We describe suggestions for enhancing the effective adoption of EBPs among service agencies in under-resourced and diverse aging communities serving populations with aging-related health disparities