The Use and Abuse of Special-Purpose Entities in Public Finance

States increasingly are raising financing indirectly through special-purpose entities (SPEs), variously referred to as authorities, special authorities, or public authorities. Notwithstanding their long history and increasingly widespread use, relatively little is known or has been written about these entities. This article examines state SPEs and their functions, comparing them to SPEs used in corporate finance. States, even more than corporations, use these entities to reduce financial transparency and avoid public scrutiny, seriously threatening the integrity of public finance. The article analyzes how regulation could be designed in order to control that threat while maintaining the legitimate financing benefits provided by these state entities

Neutrino masses in the Lepton Number Violating MSSM

We consider the most general supersymmetric model with minimal particle content and an additional discrete Z_3 symmetry (instead of R-parity), which allows lepton number violating terms and results in non-zero Majorana neutrino masses. We investigate whether the currently measured values for lepton masses and mixing can be reproduced. We set up a framework in which Lagrangian parameters can be initialised without recourse to assumptions concerning trilinear or bilinear superpotential terms, CP-conservation or intergenerational mixing and analyse in detail the one loop corrections to the neutrino masses. We present scenarios in which the experimental data are reproduced and show the effect varying lepton number violating couplings has on the predicted atmospheric and solar mass^2 differences. We find that with bilinear lepton number violating couplings in the superpotential of the order 1 MeV the atmospheric mass scale can be reproduced. Certain trilinear superpotential couplings, usually, of the order of the electron Yukawa coupling can give rise to either atmospheric or solar mass scales and bilinear supersymmetry breaking terms of the order 0.1 GeV^2 can set the solar mass scale. Further details of our calculation, Lagrangian, Feynman rules and relevant generic loop diagrams, are presented in three Appendices.Comment: 48 pages, 7 figures, v2 references added, typos corrected, published versio

Regulating Systemic Risk: Towards an Analytical Framework

The global financial crisis demonstrated the inability and unwillingness of financial market participants to safeguard the stability of the financial system. It also highlighted the enormous direct and indirect costs of addressing systemic crises after they have occurred, as opposed to attempting to prevent them from arising. Governments and international organizations are responding with measures intended to make the financial system more resilient to economic shocks, many of which will be implemented by regulatory bodies over time. These measures suffer, however, from the lack of a theoretical account of how systemic risk propagates within the financial system and why regulatory intervention is needed to disrupt it. In this Article, we address this deficiency by examining how systemic risk is transmitted. We then proceed to explain why, in the absence of regulation, market participants cannot be relied upon to disrupt or otherwise limit the transmission of systemic risk. Finally, we advance an analytical framework to inform systemic risk regulation

Study protocol for a controlled trial of strengths model case management in mental health services in Hong Kong

Introduction Although strengths-based models are popular within recovery-oriented approaches, there is still a lack of conclusive research to guide how they should be implemented. A recent meta-analysis confirmed the lack of clarity in how this perspective is operationalised and that fidelity monitoring during the implementation process is lacking. Hence, there is a clear need to evaluate the feasibility of delivering and evaluating a clearly operationalised strengths-based intervention that incorporates fidelity checks to inform more definitive research. This protocol therefore describes a controlled trial of Strengths Model Case Management (SMCM), a complex intervention, for people with severe mental illnesses in Hong Kong. This trial follows the guidelines of the Medical Research Council as a phase 2 trial. Hence, it is a pilot study that tests the feasibility and effectiveness of the model. Methods and analysis This is a 9-month controlled trial that uses the Kansas Model. Participants and a matched control group are recruited on a voluntary basis, after screening for eligibility. Effectiveness of the SMCM will be measured through outcome measures taken at baseline, the mid-point and at the end of the trial. Outcomes for service users include personal recovery, hope, subjective well-being, psychiatric symptoms, perceived level of recovery features within the organisation, therapeutic alliance and achievement of recovery goals. Outcomes for care workers will include job burnout, organisational features of recovery and perceived supervisory support. With a 2×3 analysis of variance design and a moderate intervention effect (Cohen's d=0.50), a total of 86 participants will be needed for a statistical power of 0.80. Ethics and dissemination Ethical approval has been obtained from the Human Research Ethics Committee for Non-Clinical Faculties at The University of Hong Kong (HRECNCF: EA140913). Trial registration number Australian New Zealand Clinical Trial Registry (ACTRN)12613001120763

Relationship between organization antecedent, job satisfaction and knowledge sharing practices among academician at Malaysia research universities.

The purpose of this research is to find out the relationship between organization antecedent, job satisfaction and knowledge sharing practices among academician at Malaysia Research Universities. The theory of this research are organization antecedent has a relationship with job satisfaction and knowledge sharing practice and job satisfaction has relationship with knowledge sharing practices and this is single mediation. The variables in this research for organizational antecedent consist of people, organization, and technology while else job satisfaction consists of job, salary, promotion, supervisor and co-worker, as for knowledge sharing practice consist of socialization, externalization, combination and internalization