An Institutional Approach to Donor Control: From Dyadic Ties to a Field‐Level Analysis

Literature on the nonprofit sector focuses on charities and their interactions with clients or governmental agencies; donors are studied less often. Studies on philanthropy do examine donors but tend to focus on microlevel factors to explain their behavior. This study, in contrast, draws on institutional theory to show that macrolevel factors affect donor behavior. It also extends the institutional framework by examining the field‐level configurations in which donors and fundraisers are embedded. Employing the case of workplace charity, this new model highlights how the composition of the organizational field structures fundraisers and donors alike, shaping fundraisers’ strategies of solicitation and, therefore, the extent of donor control.This research was supported by grants from the Aspen Institute’s Nonprofit Sector Research Fund and the National Science Foundation. I thank Susan Eckstein, Julian Go, Heather MacIndoe, Susan Ostrander, audiences in the departments of sociology at Boston University, Emory University, Ohio State University, University of Arizona, and the University of Chicago, various participants in the University of Chicago Graduate School of Business Organizations and Markets Workshop and the MIT‐Sloan School of Management Organization Studies Group Seminar Series, and AJS reviewers for helpful comments on earlier versions. Direct correspondence to Emily Barman, Deparment of Sociology, Boston University, 96 Cummington Street, Boston, Massachusetts 02115

Many a Slip: The Challenge of Impact as Boundary Object in Social Finance

This article considers the construction of the market of Impact Investing – financial investment with the intentional pursuit of “impact” alongside financial return – as one case of the broader turn to Social Finance. Impact Investing is championed by proponents for its ability to provide a sustainable and scalable market-based solution to societal and environmental problems, in contrast to the limited efforts of government and civil society. This article delineates the work of the market maker who motivated the construction of a judgment device to address the issue of quality uncertainty in this new market. I offer a genealogy of this rating system for firms as potential impact investments, showing that it was commissioned by proponents of Impact Investing who, having first engaged in boundary work to distinguish Impact Investing from other spaces of Social Finance, then sought to appeal to traditional investors by mimicking the calculative tools used in traditional capital markets. Yet, the adaptation of a financial rating system to the new field was complicated by the multivocal status of “impact” as a boundary object involving multiple, disparate actors committed to the common project of creating a judgement device for impact investment yet diverging on the question of how impact was to be created by businesses and for whose benefit. The result was a slippage between the conception of impact espoused by the market maker of Impact Investing and the type of impact gauged by the rating system itself, with likely reactive effects for impact investors and investees. I conclude by positing that the development of suitable judgement devices that capture and communicate the impact of socially or environmentally oriented financial activity is one critical yet understudied condition for the ability of social finance markets to achieve their promise

Demonstrating value : how entrepreneurs design new accounting methods to justify innovations

An important activity of entrepreneurs is to justify the value of an innovation to gain support from stakeholders. We examine how entrepreneurs can develop an accounting methodology to demonstrate the value of a proposed innovation, focusing on the case of a charitable foundation’s promotion of social enterprise and its efforts to develop the accounting methodology of Social Return on Investment (SROI). We show how the process for designing new accounting methods that helps in demonstrating the value of innovations involves entrepreneurs (1) imagining the expectations of their stakeholders (2) putting in place the necessary infrastructure through which numbers can be generated and (3) iteratively reconfiguring the accounting methodology and the espoused value the innovation is expected to generate. Our study furthers understanding of the role of accounting numbers in the entrepreneurial process, particularly in situations where entrepreneurs seek to generate new accounting methodologies to develop persuasive stories about the benefits of their innovations

Atmospheric Circulation of Hot Jupiters: A Shallow Three-Dimensional Model

Remote observing of exoplanetary atmospheres is now possible, offering us access to circulation regimes unlike any of the familiar Solar System cases. Atmospheric circulation models are being developed to study these new regimes but model validations and intercomparisons are needed to establish their consistency and accuracy. To this end, we present a simple Earth-like validation of the pseudo-spectral solver of meteorological equations called IGCM (Intermediate General Circulation Model), based on Newtonian relaxation to a prescribed latitudinal profile of equilibrium temperatures. We then describe a straightforward and idealized model extension to the atmospheric flow on a hot Jupiter with the same IGCM solver. This shallow, three-dimensional hot Jupiter model is based on Newtonian relaxation to a permanent day-night pattern of equilibrium temperatures and the absence of surface drag. The baroclinic regime of the Earth's lower atmosphere is contrasted with the more barotropic regime of the simulated hot Jupiter flow. For plausible conditions at the 0.1-1 bar pressure level on HD 209458b, the simulated flow is characterized by unsteadiness, subsonic wind speeds, a zonally-perturbed superrotating equatorial jet and large scale polar vortices. Violation of the Rayleigh-Kuo inflexion point criterion on the flanks of the accelerating equatorial jet indicates that barotropic (horizontal shear) instabilities may be important dynamical features of the simulated flow. Similarities and differences with previously published simulated hot Jupiter flows are briefly noted.Comment: 31 pages, 9 figures, accepted for publication in ApJ. Version with hi-res figures: http://www.astro.columbia.edu/~kristen/Hires/hotjup.3d.shallow.ps.g

Determining the Physical Properties of Very-Low-Mass Stars and Brown Dwarfs in the Near-Infrared

Accurate measurements of the fundamental physical properties of very‐low‐mass stars and brown dwarfs are crucial for calibrating evolutionary models. Photometry and low‐resolution spectroscopy effectively average over absorption features that sample different layers in complex cool atmospheres. By studying a large sample of objects bright enough for high‐resolution spectroscopy, we can develop methods for determining physical properties as accurately and efficiently as possible. As part of the Brown Dwarf Spectroscopic Survey (BDSS; [1, 2]), we are conducting a detailed comparison of observed and synthetic spectra for a sample of young M and L dwarfs and field M, L, and T dwarfs ( ∼50 objects in total). High‐resolution near‐infrared spectra from NIRSPEC on Keck II provide an unequaled combination of resolving power and wavelength coverage. Synthetic spectra were created from PHOENIX atmosphere models calculated exclusively for this project with updated line lists and solar abundances. Combined with spectral types from photometric studies and low‐resolution spectra and surface gravity estimates from age determination, the high‐resolution spectra enable precise measurements of effective temperature and surface gravity, as well as accurate determination of radial velocity and projected rotational velocity. Our preliminary observation‐model comparisons distinguish between wavelength regimes for which the models reproduce observed high‐resolution spectra and regimes in which model data (line lists, oscillator strengths, etc.) are lacking

The Wide Brown Dwarf Binary Oph 1622-2405 and Discovery of A Wide, Low Mass Binary in Ophiuchus (Oph 1623-2402): A New Class of Young Evaporating Wide Binaries?

We imaged five objects near the star forming clouds of Ophiuchus with the Keck Laser Guide Star AO system. We resolved Allers et al. (2006)'s #11 (Oph 16222-2405) and #16 (Oph 16233-2402) into binary systems. The #11 object is resolved into a 243 AU binary, the widest known for a very low mass (VLM) binary. The binary nature of #11 was discovered first by Allers (2005) and independently here during which we obtained the first spatially resolved R~2000 near-infrared (J & K) spectra, mid-IR photometry, and orbital motion estimates. We estimate for 11A and 11B gravities (log(g)>3.75), ages (5+/-2 Myr), luminosities (log(L/Lsun)=-2.77+/-0.10 and -2.96+/-0.10), and temperatures (Teff=2375+/-175 and 2175+/-175 K). We find self-consistent DUSTY evolutionary model (Chabrier et al. 2000) masses of 17+4-5 MJup and 14+6-5 MJup, for 11A and 11B respectively. Our masses are higher than those previously reported (13-15 MJup and 7-8 MJup) by Jayawardhana & Ivanov (2006b). Hence, we find the system is unlikely a ``planetary mass binary'', (in agreement with Luhman et al. 2007) but it has the second lowest mass and lowest binding energy of any known binary. Oph #11 and Oph #16 belong to a newly recognized population of wide (>100 AU), young (<10 Myr), roughly equal mass, VLM stellar and brown dwarf binaries. We deduce that ~6+/-3% of young (<10 Myr) VLM objects are in such wide systems. However, only 0.3+/-0.1% of old field VLM objects are found in such wide systems. Thus, young, wide, VLM binary populations may be evaporating, due to stellar encounters in their natal clusters, leading to a field population depleted in wide VLM systems.Comment: Accepted version V2. Now 13 pages longer (45 total) due to a new discussion of the stability of the wide brown dwarf binary population, new summary Figure 17 now included, Astrophysical Journal 2007 in pres

Radiation-Hydrodynamics of Hot Jupiter Atmospheres

Radiative transfer in planetary atmospheres is usually treated in the static limit, i.e., neglecting atmospheric motions. We argue that hot Jupiter atmospheres, with possibly fast (sonic) wind speeds, may require a more strongly coupled treatment, formally in the regime of radiation-hydrodynamics. To lowest order in v/c, relativistic Doppler shifts distort line profiles along optical paths with finite wind velocity gradients. This leads to flow-dependent deviations in the effective emission and absorption properties of the atmospheric medium. Evaluating the overall impact of these distortions on the radiative structure of a dynamic atmosphere is non-trivial. We present transmissivity and systematic equivalent width excess calculations which suggest possibly important consequences for radiation transport in hot Jupiter atmospheres. If winds are fast and bulk Doppler shifts are indeed important for the global radiative balance, accurate modeling and reliable data interpretation for hot Jupiter atmospheres may prove challenging: it would involve anisotropic and dynamic radiative transfer in a coupled radiation-hydrodynamical flow. On the bright side, it would also imply that the emergent properties of hot Jupiter atmospheres are more direct tracers of their atmospheric flows than is the case for Solar System planets. Radiation-hydrodynamics may also influence radiative transfer in other classes of hot exoplanetary atmospheres with fast winds.Comment: 25 pages, 4 figures, accepted for publication in ApJ (minor revisions

Physical Properties of Young Brown Dwarfs and Very Low-Mass Stars Inferred from High-Resolution Model Spectra

By comparing near-infrared spectra with atmosphere models, we infer the effective temperature, surface gravity, projected rotational velocity, and radial velocity for 21 very-low-mass stars and brown dwarfs. The unique sample consists of two sequences in spectral type from M6-M9, one of 5-10 Myr objects and one of >1 Gyr field objects. A third sequence is comprised of only ~M6 objects with ages ranging from 1 Gyr. Spectra were obtained in the J band at medium (R~2,000) and high (R~20,000) resolutions with NIRSPEC on the Keck II telescope. Synthetic spectra were generated from atmospheric structures calculated with the PHOENIX model atmosphere code. Using multi-dimensional least-squares fitting and Monte Carlo routines we determine the best-fit model parameters for each observed spectrum and note which spectral regions provide consistent results. We identify successes in the reproduction of observed features by atmospheric models, including pressure-broadened KI lines, and investigate deficiencies in the models, particularly missing FeH opacity, that will need to be addressed in order to extend our analysis to cooler objects. The precision that can be obtained for each parameter using medium- and high- resolution near-infrared spectra is estimated and the implications for future studies of very low mass stars and brown dwarfs are discussed.Comment: Accepted to the Astrophysical Journal Supplement Serie