Accounting for the financialized UK and US national business model

The term ‘business model’ (BM) is generally used to describe the possibilities of transforming corporate activities and business functions (Osterwalder et al,2005 and Magretta,2002) In this paper we argue that our understanding of what constitutes a BM can be reworked to generate a useful organizing framework to investigate the nature of national economic development and transformation. Our argument is that national business models are subtended within a broad econo‐sphere where they evolve and adapt to information arising out of stakeholder interactions. These interactions congeal into reported financial numbers that are represented as GDP flow (income and surplus) and Balance Sheet accumulations (assets and liabilities outstanding). In this paper we employ financial data from national accounts to specifically describe how the US and UK national business models have financialized. We observe that balance sheet capitalization has inflated ahead of earnings and surplus. Our argument is that the capitalization of a national business model is not simply the mathematical product of discounting corporate cash earnings. The process of on‐going capitalization is also conditioned by variable institutional sector characteristics where financial innovation is possible and, within credit based economies, goodwill and holding gains arising out of asset inflation also provide collateral for further ongoing recapitalizations. In financialized national business models the system of accounting takes on added analytical significance because it ‘transmits rather than contains’ and ‘amplifies rather than dampens’ adverse financial disturbance as capitalizations are recalibrated up or down.Peer reviewe

Sukupolvenvaihdos verotuksen kannalta ja sen verohuojennukset

Aineisto on Opiskelijakirjaston digitoimaa ja Opiskelijakirjasto vastaa aineiston käyttöluvist

Demokraattiset innovaatiot ylikansallisessa ja globaalissa hallinnassa

Peer reviewe

Financialization directing strategy

Original article can be found at: http://www.sciencedirect.com/science/journal/01559982 Copyright Elsevier Ltd. DOI: 10.1016/j.accfor.2008.08.001This paper constructs an account of how financialization is directing strategy in the S&P 500. Financialization describes how changes in US accounting regulations require firms to account for the market value of capital market transactions where corporate strategy is not simply concerned with delivering value creation but also reacting to value absorption in an era of shareholder value. Financialization is directing strategy and arbitrage to modify stakeholder financial settlements where an increased share of income is extracted as surplus cash and more of this cash from operations is being distributed to shareholders. Share buy-backs account for a substantial increase in the share of corporate cash distributed to shareholders in the S&P 500 which, we argue, reflects a strategic process of value creation and value absorption.Peer reviewe

Approaches to the development of new mental well-being screening tools for Indigenous peoples: a systematic mixed studies review protocol

Introduction: Indigenous peoples' world views are intricately interrelated and interconnected with those of their communities and the environments where they live. Consequently, Indigenous peoples have a holistic view of their health, which contrasts with the dominant Western biomedical paradigm. However, the mental well-being of Indigenous peoples is predominately screened using tools developed using the Western paradigm that may not be culturally appropriate. The objective of this systematic mixed studies review (SMSR) is to assess the extent of the literature related to approaches used to develop new tools to screen the mental well-being of Indigenous adults. Methods and analysis: This SMSR will be conducted in accordance with the method proposed by Pluye et al. It will include studies that describe the development of any type of tool or approach to screen for mental well-being in Indigenous adults, globally. Searches will be limited to the English language and literature published since January 2000. Databases to be searched include: CINAHL, Medline, PsycINFO, PubMed and Scopus. Only published studies will be included in the SMSR. Data that answers the research questions will be extracted from the literature and recorded on the associated data charting form. A sequential synthesis method will be used to analyse data from qualitative, quantitative and mixed-method studies. Data will be presented graphically, diagrammatically or in tabular form depending on what approach best conveys its meaning. Ethics and dissemination: The SMSR will describe the approach to developing new tools for screening the mental well-being of Indigenous peoples across the globe. It will support researchers, clinicians and practitioners to consider both their approach to new tool development or, if they are using a previously developed tool, how reliable and valid it is for the population that they intend to use it with. Peer-reviewed publications will be used to disseminate SMSR findings

Augmenter of liver regeneration enhances the success rate of fetal pancreas transplantation in rodents

Background. Treatment of fetal pancreas (FP) isografts with insulin- like growth factor-I greatly improves the rate of conversion to euglycemia in diabetic rats. Complete knowledge of other factors that may facilitate the engraftment and function of FP in vivo is still embryonic. Augmenter of liver regeneration (ALR) is a newly described polypeptide growth factor found in weanling rat livers. ALR has trophic effects on regenerating liver. We studied the effects of in situ administration of this agent on FP isografts in rats. Methods. Streptozotocin-diabetic Lewis rats (blood glucose >300 mg/dl) received 16 FP isografts transplanted intramuscularly. ALR was delivered from day 1 through day 14, in doses of 40 or 400 ng/kg/d. Animals were followed for 3 months with serial weights and blood glucose monitoring. These animals were compared with those treated with vehicle alone. Results. Of the group treated with ALR at 40 ng/kg/day for 14 days, 89% (eight of nine) were euglycemic (P=0.0003). Of the group treated with ALR at 400 ng/kg/day for 14 days, 88% (seven of eight) were euglycemic (P=0.0007). Of the group treated with vehicle alone, none of the six were euglycemic. Euglycemia is defined here as glucose<200 mg/dl for 3 days. Pathology of the intramuscular transplant site showed patches of islet tissue embedded in fat. These patches demonstrated insulin immunoreactivity. Conclusions. Diabetes was reversed in a significantly greater proportion of FP + ALR-treated recipients than those animals treated with vehicle alone. Local delivery of growth factors my be used as an adjunct to FP transplantation to improve the rate of success. This in situ model may be useful to further evaluate other soluble factors

Low Electron Temperatures Observed at Mars by MAVEN on Dayside Crustal Magnetic Field Lines

An edited version of this paper was published by AGU. Copyright 2019 American Geophysical Union.The ionospheric electron temperature is important for determining the neutral/photochemical escape rate from the Martian atmosphere via the dissociative recombination of O2+. The Langmuir Probe and Waves instrument onboard MAVEN (Mars Atmosphere and Volatile EvolutioN) measures electron temperatures in the ionosphere. The current paper studies electron temperatures in the dayside for two regions where (1) crustal magnetic fields are dominant and (2) draped magnetic fields are dominant. Overall, the electron temperature is lower in the crustal‐field regions, namely, the strong magnetic field region, which is due to a transport of cold electrons along magnetic field lines from the lower to upper atmosphere. The electron temperature is also greater for high solar extreme ultraviolet conditions, which is associated with the local extreme ultraviolet energy deposition. The current models underestimate the electron temperature above 250‐km altitude in the crustal‐field region. Electron heat conduction associated with a photoelectron transport in the crustal‐field regions is altered due to kinetic effects, such the magnetic mirror and/or ambipolar electric field because the electron mean free path exceeds the relevant length scale for electron temperature. The mirror force can affect the electron and heat transport between low altitudes, where the neutral density and related electron cooling rates are the greatest, and high altitudes, while the ambipolar electric field decelerates the electron's upward motion. These effects have not been included in current models of the electron energetics, and consideration of such effects on the electron temperature in the crustal‐field region should be considered for future numerical simulations