Overcoming capacity gaps in fecal sludge management through education and training

2.7 billion people around the world are in need of Fecal Sludge Management (FSM) services, and this number is expected to rise to 4.9 billion by 2030. Key FSM challenges include the gap in knowledge related to the science behind FSM, the lack of skills and experience in viable implementation models, and the absence of policy to ensure an enabling environment. The Centre for Affordable Water and Sanitation Technologies (CAWST) is working toward filling the capacity gaps in FSM through developing and delivering education and training activities to sanitation implementers. This paper describes the systematic program development process that CAWST undertook to plan and develop the education materials, pilot the FSM workshop to sanitation implementers in Nepal, and use the feedback to improve and finalize the education materials. Results and feedback from the pilot workshop are discussed, and next steps are explained

Multiple agency perspective, family control, and private information abuse in an emerging economy

Using a comprehensive sample of listed companies in Hong Kong this paper investigates how family control affects private information abuses and firm performance in emerging economies. We combine research on stock market microstructure with more recent studies of multiple agency perspectives and argue that family ownership and control over the board increases the risk of private information abuse. This, in turn, has a negative impact on stock market performance. Family control is associated with an incentive to distort information disclosure to minority shareholders and obtain private benefits of control. However, the multiple agency roles of controlling families may have different governance properties in terms of investors’ perceptions of private information abuse. These findings contribute to our understanding of the conflicting evidence on the governance role of family control within a multiple agency perspectiv

The cultural side of value creation

The question of how organizations create value has become a central question for understanding inter-firm competition and performance differentials. Much of the work on the topic emphasizes the importance of technological innovation for improving operational efficiency and/or product functionality . Accordingly, much of the work in the area has focused on understanding the development of technological capabilities and the dynamics of competition among different technologies. Whereas this line of research has contributed greatly to our understanding of value creation through technology performance improvement, it has also left unexplored the strategies for differentiating products on the basis of their cultural significance. Yet, research in a wide variety of disciplines ranging from anthropology, to cultural sociology, and consumer behavior shows that consumers value products not only for their functional and technical performance, but also for their cultural meanings. The infusion of products with cultural meanings enables consumers to use these products to make statements about their personal and social identity and status. It is therefore well understood that consumers derive value not only from what products do (functional value), but also from what they signify in a given social group (symbolic value). While strategy scholars recognize that product meanings are a source of differentiation and generate price premia (Porter, 1980), they also tend to view the activities that generate them – e.g. branding – as a part of the marketing strategy of the firm. More generally, strategy research has been criticized for its reluctance to delve into the demand side of value-creation. Rooted in disciplinary assumptions about atomistic consumers with idiosyncratic preferences, strategy researchers view demand as largely exogenous and ignore its cultural embeddedness in social conventions that define the cultural meanings of objects and shape consumption choices. As a result, they have given limited attention to the question of how firms can strategically manage the symbolic value of their products. In this paper we propose a cultural perspective on value creation that can direct strategic organization research toward the systematic investigation of how producers engage with the cultural meaning systems that supply frameworks for interpretation and valuation of goods. To guide research in this direction we first discuss how products acquire cultural significance and then outline three core implications of these ideas for the strategy and organization of firms. First, we discuss how recognizing the cultural significance of products shifts attention from technological innovation that alters product functionality to cultural innovation that alters their cultural significance. Second, we explain the need to develop distinct cultural resources that enable firms to identify and exploit opportunities for cultural innovation. Third, we draw attention to the need for cultural intent defined as developing an explicit strategy for utilizing cultural resources to achieve specific cultural positioning for the firm’s products

Mitigation of Moral Hazard and Adverse Selection in Venture Capital Financing: The Influence of the Country’s Institutional Setting

A venture capitalist (VC) needs to trade off benefits and costs when attempting to mitigate agency problems in their investor-investee relationship. We argue that signals of ventures complement the VC’s capacity to screen and conduct a due diligence during the pre-investment phase, but its attractiveness may diminish in institutional settings supporting greater transparency. Similarly, whereas a VC may opt for contractual covenants to curb potential opportunism by ventures in the post-investment phase, this may only be effective in settings supportive of shareholder rights enforcement. Using an international sample of VC contracts, our study finds broad support for these conjectures. It delineates theoretical and practical implications for how investors can best deploy their capital in different institutional settings whilst nurturing their relationships with entrepreneurs

A new look at the corporate social-financial performance relationship: The moderating roles of temporal and inter-domain consistency in corporate social performance

The authors develop the argument that the establishment of good stakeholder relations is influenced not only by a firm's having a high level of corporate social performance but also by its ability to deliver consistent social performance. Therefore, both level and consistency in corporate social performance should have significant financial implications. More specifically, the authors suggest that level and two types of consistency in corporate social performance-temporal consistency and interdomain consistency-interact positively to influence a firm's financial performance. Using a sample of 622 firms and 2,365 firm-year observations based on the Kinder, Lydenberg, Domini, & Co. data, the authors found empirical results supporting this argument. In addition, they found that maintaining consistently good social performance is more important for firms with high levels of knowledge intensity

Catching-up in the global factory: analysis and policy implications

MNEs shape the location of activities in the world economy, linking diverse regions in what has been called the global factory. This study portrays the evolution of incomes and employment in the global factory using a quantitative input–output approach. We find emerging economies forging ahead relative to advanced economies in income derived from fabrication activities, handling the physical transformation process of goods. In contrast, convergence in income derived from knowledge-intensive activities carried out in pre- and post-fabrication stages is much slower. We discuss possible barriers to catching-up and policy implications for emerging economies in developing innovation capabilities, stressing the pivotal role of MNEs