Journal articles: 'Institutional intermediaries'

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Park, Sun Hyun, and Kelly Patterson. "Being Counted and Remaining Accountable: Maintenance of Quarterly Earnings Guidance by U.S. Public Companies." Organization Science 32, no. 3 (May 2021): 544–67. http://dx.doi.org/10.1287/orsc.2020.1401.

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Organizations are often pressured to adopt and maintain institutionally supported practices. Why do some companies remain committed to these practices, despite high operational cost and widespread frustration with them? Although prior theorists have emphasized the importance of institutional pressure at the broader population level, less research attention has been paid to the abandonment of a practice as a result of resource dependence between a firm and market intermediaries. In this paper, we theorize intermediary coverage breadth and depth as two important structural indicators of resource dependence. Firms lacking in coverage breadth (as indicated by the degree of reporting by market intermediaries) and firms with deeper coverage (as evidenced by a prolonged relationship with market intermediaries) are less likely to abandon a practice due to an increase in power imbalance and mutual dependence within the firm-intermediary relationships. We also theorize how a firm’s resource dependence, as determined by coverage structure, moderates the firm’s sensitivity to (1) observed peer support for the practice, (2) the intermediary’s expectation regarding the continued use of the practice, and (3) performance deviations that fail to meet intermediary expectations. Our empirical study of the abandonment of quarterly earnings guidance by U.S. public companies during 2001–2010 provides overall support for our theoretical arguments.

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Ma, Xiao-Feng, Michael Kaldenbach, and Bernhard Katzy. "Cross-border innovation intermediaries – matchmaking across institutional contexts." Technology Analysis & Strategic Management 26, no. 6 (March 24, 2014): 703–16. http://dx.doi.org/10.1080/09537325.2014.899346.

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Bharati, Pratyush, and Abhijit Chaudhury. "Technology Assimilation Across the Value Chain." Information Resources Management Journal 25, no. 1 (January 2012): 38–60. http://dx.doi.org/10.4018/irmj.2012010103.

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In this paper, the authors study technology assimilation, aggregating technologies and assimilation stages for SMEs. The authors employ the twin lenses of organizational innovation and elements of institutional theory. The research validates some institutional actors and most firm characteristics as important determinants. The relative weaknesses of the institutional actors provide evidence of structural isolation in the SME environment that is inhibiting information flow from intermediaries like government support agencies and vendors. The authors recommend a proactive role on the part of technology and enterprise intermediaries to design SME-appropriate solutions.

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Wu, You, and Song Wang. "Leveraging Institutional Intermediaries: Entrepreneurial Strategies on a Fundraising Platform." Academy of Management Proceedings 2019, no. 1 (August 1, 2019): 19400. http://dx.doi.org/10.5465/ambpp.2019.19400abstract.

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Anand, Amber, and Avanidhar Subrahmanyam. "Information and the Intermediary: Are Market Intermediaries Informed Traders in Electronic Markets?" Journal of Financial and Quantitative Analysis 43, no. 1 (March 2008): 1–28. http://dx.doi.org/10.1017/s0022109000002738.

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AbstractA significant but unresolved question in the current debate about the role of intermediaries in financial markets is whether intermediaries behave as passive traders or whether they actively seek and trade on information. We address this issue by explicitly comparing the informational advantages of intermediaries with those of other investors in the market. We find that intermediaries account for greater price discovery than other institutional and individual investors in spite of initiating fewer trades and volume. Furthermore, intermediary information does not arise from inappropriate handling of customer orders by intermediaries. We propose that our findings are consistent with noisy rational expectations models, where agents extract valuable information from past prices. Intermediaries bear little or no opportunity cost of monitoring market conditions, which gives them an advantage in making profitable price-contingent trades. Lower trading costs may also enable intermediaries to trade more effectively and frequently on their information.

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Frolov, Daniil. "Blockchain and institutional complexity: an extended institutional approach." Journal of Institutional Economics 17, no. 1 (June 16, 2020): 21–36. http://dx.doi.org/10.1017/s1744137420000272.

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AbstractFrom a modern institutional economics viewpoint, blockchain is an institutional technology that minimizes transaction costs and greatly reduces intermediation. Through an analysis of blockchain, I demonstrate the possibilities of extended institutional approach – a new generation of complexity-focused methodologies and theories of institutional analysis that complement and expand the standard institutional paradigm. By using the theory of transaction value, I argue blockchain technologies not only will lead to a significant reduction in transaction costs but will also reorient intermediaries toward improving the quality of transactions and expanding the offer of additional transaction services. The theory of institutional assemblages indicates it is impossible to form a homogeneous system of blockchain-based institutions associated exclusively with the principles of decentralization, transparency, and openness. Blockchain-based institutions will be of a hybrid and conflicting nature, combining elements of opposing institutional logics – regulatory and algorithmic law, Ricardian and smart contracts, private and public systems, and uncontrollability and arbitration.

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Landoni, Matteo. "Corporatization and internationalization of state-owned enterprises." International Journal of Public Sector Management 31, no. 2 (March 5, 2018): 221–40. http://dx.doi.org/10.1108/ijpsm-03-2017-0076.

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Purpose The purpose of this paper is to provide a conceptual framework for the intermediation of state-owned enterprises (SOEs). Governments may apply different form of support with the aim of increasing corporatization and internationalization of SOEs. The paper suggests a strategy based on institutional intermediation as the more efficient to drive corporatization and internationalization. Design/methodology/approach The research selected cases concerning SOEs in different industries in Europe in search of recurrences from a novel theoretical perspective. Among them, a case study concerning the Italian Space Agency explores the development of an institutional intermediary. Findings Government supports to SOEs appear in different forms and contribute to different results. A typology of the most recurrent forms shows three different types of actions governments have taken to support internationalization of firms. Intermediation seems the most suitable to trigger corporatization and internationalization. Research limitations/implications The study explores institutional intermediaries as a novel supporting strategy for governments. It proposes a novel concept based upon a single case study. Further research needs to test and verify the institutional intermediaries’ impact drawing on a larger sample and different contexts. Originality/value So far, few attempts have linked corporatization to globalization. The paper tries to fill this gap between corporatization and internationalization of SOEs. Its value is the provision of a novel view that includes institutional intermediaries as instrumental to governments’ strategy that aims to bridge the two components.

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Ahsan, Md Khabirul, Nusrat Sultana Runa, Subrata Kumar Ghosh, Muhammad Mehedi Hasan, and Md Kamal. "Socio-economic condition of fishermen and intermediaries involved in marine fish marketing chain in Coxs Bazar area, Bangladesh." Asian Journal of Medical and Biological Research 2, no. 1 (May 15, 2016): 67–73. http://dx.doi.org/10.3329/ajmbr.v2i1.27571.

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Study was conducted to know the socio-economic condition of the fishermen and intermediaries of fish marketing chain in Coxs Bazar area, Bangladesh. Socio-economic condition of the fishermen and intermediaries were not so good in the study area. It was found that about 35% fishermen and intermediaries were illiterate, 16% fishermen and intermediaries were semiliterate who only could write their names. 55% household of the fishermen and intermediaries had tin shed house with tin wall. Average income for most of fishermen and intermediaries was about Tk. 400-500 and 66% were found to borrow money from different source for continuing their business. Poor road and transport facilities, lack of credit facilities, insufficient supply of ice, inadequate training facilities and large number of intermediaries in the chain were the main problems of the marine fish marketing chain. It is therefore necessary to provide institutional and organizational support, government support, extension service and training facilities to the market operators for sustainable fish marketing systems.Asian J. Med. Biol. Res. March 2016, 2(1): 67-73

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Cappellaro, Giulia, and Amelia Compagni. "Life beyond emergence: Institutional intermediaries and the persistence of hybrid forms." Academy of Management Proceedings 2018, no. 1 (August 2018): 12074. http://dx.doi.org/10.5465/ambpp.2018.149.

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Mair, Johanna, Ignasi Martí, and Marc J. Ventresca. "Building Inclusive Markets in Rural Bangladesh: How Intermediaries Work Institutional Voids." Academy of Management Journal 55, no. 4 (August 2012): 819–50. http://dx.doi.org/10.5465/amj.2010.0627.

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Shohet, Simon, and Martha Prevezer. "UK biotechnology: institutional linkages, technology transfer and the role of intermediaries." R&D Management 26, no. 3 (July 1996): 283–98. http://dx.doi.org/10.1111/j.1467-9310.1996.tb00962.x.

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Enders, Jürgen, and Rajani Naidoo. "Audit-market intermediaries: doing institutional work in British research-intensive universities." Studies in Higher Education 44, no. 7 (February 12, 2018): 1290–301. http://dx.doi.org/10.1080/03075079.2018.1436536.

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Eberhart, Robert N., and Charles E. Eesley. "The dark side of institutional intermediaries: Junior stock exchanges and entrepreneurship." Strategic Management Journal 39, no. 10 (August 29, 2018): 2643–65. http://dx.doi.org/10.1002/smj.2934.

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Wadhwani, R. Daniel. "The Institutional Foundations of Personal Finance: Innovation in U.S. Savings Banks, 1880s–1920s." Business History Review 85, no. 3 (2011): 499–528. http://dx.doi.org/10.1017/s000768051100078x.

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The system of personal finance that developed in the United States was more fragmented than comparative arrangements in most industrializing countries, where savings banks had become large, diversified financial institutions. The federalist political structure of the U.S., combined with lobbying by existing intermediaries, inhibited the establishment of a centralized public provider of financial services for households such as emerged elsewhere. Moreover, the United States did not develop strong, diversified savings institutions at the local level, due in part to regulations that stifled innovation by savings banks and in part to the risk-averse organizational culture of the banks themselves. These factors enabled the proliferation of specialized intermediaries that aggressively marketed new financial services to households and facilitated the growth of new patterns of financial behavior among ordinary Americans.

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Apaydin, Marina, Jon Thornberry, and Yusuf M. Sidani. "Informal Social Networks as Intermediaries in Foreign Markets." Management and Organization Review 16, no. 3 (July 2020): 629–56. http://dx.doi.org/10.1017/mor.2020.17.

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ABSTRACTWe investigate how informal social networks can assist multinational firms in their internationalization strategy. We propose a refinement of the Uppsala internalization model (Johanson & Vahne, 2009) grounded in network theory, by developing an intermediate position between an ‘insider’ and an ‘outsider’ for conditions when the transformation of an outsider into an insider is limited by institutional constraints. An intermediary position represents one of the sides of ‘patron-client’ informal networks (Denoeux, 1993) whereby the other side is represented by the ‘insider’. We argue that this setup would help mitigate the Liability of Outsidership (Johanson & Vahne, 2009), a replacement of the Liability of Foreignness (Hymer, 1976; Zaheer, 1995), in the modern networked business world. We contextualize our proposition for the case of Iran, a large rising West-Asian economy with known institutional limitations, and suggest that the informal network of local merchants (bazaaries) could play an important intermediary role in Multinational Enterprises (MNEs) internationalization process. We review the history of bazaaries and make a series of propositions exemplifying possible ways informal networks could influence the internationalization process. In addition to re-affirming the importance of the MNE country of origin (emerging markets, and low psychic distance with Iran), we propose that an intermediary of the Iranian bazaaries will have a positive impact on performance and survival of the MNE's subsidiary in Iran, especially in the case of incongruence of MNE's leadership with Shi'a Islam. Additionally, we suggest that employing the Iranian diaspora may also improve subsidiary performance and survival.

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Kerlin, Janelle A., Saurabh A. Lall, Shuyang Peng, and Tracy Shicun Cui. "Institutional intermediaries as legitimizing agents for social enterprise in China and India." Public Management Review 23, no. 5 (January 12, 2021): 731–53. http://dx.doi.org/10.1080/14719037.2020.1865441.

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Michel, Sophie, and Russ Vince. "Parasites, Intermediaries and Heroes: Fantasies for Institutional Maintenance in French Wholesalers (WITHDRAWN)." Academy of Management Proceedings 2018, no. 1 (August 2018): 15837. http://dx.doi.org/10.5465/ambpp.2018.15837abstract.

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Chen, Shih Hsin, Abiodun A. Egbetokun, and Duen Kai Chen. "Brokering knowledge in networks: institutional intermediaries in the Taiwanese biopharmaceutical innovation system." International Journal of Technology Management 69, no. 3/4 (2015): 189. http://dx.doi.org/10.1504/ijtm.2015.072978.

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Armanios, Daniel Erian, Charles E. Eesley, Jizhen Li, and Kathleen M. Eisenhardt. "How entrepreneurs leverage institutional intermediaries in emerging economies to acquire public resources." Strategic Management Journal 38, no. 7 (October 12, 2016): 1373–90. http://dx.doi.org/10.1002/smj.2575.

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Sandberg, Berit. "Functions of intermediaries in arts-based cooperations." Arts and the Market 7, no. 1 (May 2, 2017): 13–31. http://dx.doi.org/10.1108/aam-06-2016-0007.

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Purpose Arts-based cooperations between business and the arts create innovative solutions for companies by introducing artistic practices. Cooperations of this nature are predominantly prepared and implemented by intermediaries who act as “matchmakers” and bridge the cultural clash. The paper aims to discuss these issues. Design/methodology/approach For the present study on the function of such intermediaries, qualitative data material from interviews and case studies on arts-based cooperations was collected and analysed. Findings This paper analyses the results from an institutional economics perspective. By drawing on transaction cost theory and information economics, the findings are transformed into an intermediation theory of arts-based cooperations. The theory postulates that intermediaries are able to reduce transaction costs as well as the risks which are contingent on asymmetric information. Involving an intermediary produces cost advantages compared to direct contact between companies and artists. Originality/value The analysis illuminates an important but heretofore neglected aspect of arts-based initiatives thus providing an indication for their successful implementation.

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Šuterová, Magdalena. "Institutional Investors in the Czech Voucher Privatisation." DANUBE 11, no. 4 (December 1, 2020): 343–54. http://dx.doi.org/10.2478/danb-2020-0020.

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Abstract Voucher privatisation that proceeded in the Czech Republic in the 1990s was a realisation of a unique experiment which resulted in the transfer of almost half of state-owned enterprises to private hands within two years. A substantial part of these private hands was represented by intermediaries – the investment privatisation funds (IPFs). Their presence in the privatisation is often criticised as the cause of the extensive tunnelling. The aim of the paper is to find out how these funds performed after the privatisation. Using the standard Capital Asset Pricing Model, with OLS parameter estimations, I conclude that the so-called tunnelling was not as extensive, and that the privatisation funds were not as harmful for the privatisation as is believed.

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Ng, Boon-Kwee, Shih-Hsin Chen, Chan-Yuan Wong, and Vgr Chandran. "University Incubation System for Research Commercialisation: The Case of Taiwan and Malaysia." Science, Technology and Society 24, no. 3 (October 23, 2019): 465–85. http://dx.doi.org/10.1177/0971721819873184.

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This article examines the performance of university research commercialisation in Taiwan and Malaysia and specifically discusses the role of incubation intermediaries. Through case study and patent analysis, this article draws lessons from Taiwan and further discusses the mechanisms in place for the successful commercialisation of university research. Lessons from the case offer insights for Malaysia on how university incubation intermediaries can be reorganised to promote better commercialisation outcomes. The Taiwanese experience illustrates that in the right institutional settings—and particularly with the presence of innovative science and technology parks—university incubators tend to promote favourable commercialisation outcomes. More importantly, the ability of university incubators to source for external knowledge and risk capital support positions them to be more effective as intermediaries. Other key success factors include establishing an adequate intellectual property management system and having adequate human resources equipped with intellectual property knowledge. This article further deliberates policy implications.

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Luchenok, A. "INSTITUTIONAL INSTRUMENTS FOR REGULATING MONETARY SYSTEM: PRINCIPLES OF APPLICATION." Экономическая наука сегодня, no. 12 (November 5, 2020): 57–64. http://dx.doi.org/10.21122/2309-6667-2020-12-57-64.

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The role of institutional instruments in the regulation of the monetary sphere has been substantiated. It shows the narrowness of the monetary approach to implement macroeconomic policy, the concentration of central banks' activities on financial intermediaries and the rejection of gоals of the economic development. The basics principles of using institutional instruments in monetary regulation are as follows: creating conditions for ensuring the national economy development at low inflation rates; implementation of effective lending to the real sector by central bank; ensuring the coordination of the interests of the state, the central bank and the main social macro-groups in the monetary sphere.

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Luiz, John Manuel, Kondwani Kachika, and Tapfumaneyi Kudzurunga. "Negotiating new institutional logics." Society and Business Review 14, no. 4 (December 3, 2019): 360–77. http://dx.doi.org/10.1108/sbr-01-2019-0015.

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Purpose This paper aims to analyse how processes of institutional change in environments of institutional 'voids' affect smallholder farmer market access in Zambia and Malawi, and explores the role of different dis/enabling institutional agents and logics. The authors examine this in the context of two divergent routes of institutional change – one externally imposed and the second driven from within the ecosystem itself. The authors consider how these different institutional processes impact upon smallholder farmers and how they are able to adapt to these changes. Design/methodology/approach A qualitative research approach is used which lends itself to an analysis of multiple institutional logics that is based upon the multiple positions of market actors. It uses a comparative case study design methodology focused on two broad cases of smallholder farmers in Zambia and Malawi. Findings The research demonstrates the tension that multiple institutional logics can create especially amongst those most vulnerable particularly where these are not embedded in local realities and mindful of social settings. Originality/value It contributes to the understanding of poverty alleviation in rural developing regions, on overcoming institutional voids, market inclusivity and the role of social entrepreneurs and intermediaries, and builds on the perspective of markets as social spaces for economic exchange.

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Kemp, Deanna, and John R. Owen. "Public–Private Inquiries: Institutional Intermediaries and the Transparency Nexus in Global Resource Development." Global Environmental Politics 21, no. 2 (April 15, 2021): 143–58. http://dx.doi.org/10.1162/glep_a_00598.

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Abstract Privately commissioned public inquiries in extractive industries are an enormously rich source of data for scholars of global environmental politics. This untapped arena comprises a series of unconventional inquiries in response to contentious socioenvironmental events and incidents, whereby large resource companies commission studies, relinquish control over the process, and publicly release findings. These inquiries are an episodic but persistent feature of the resource governance landscape in the global mining industry—one of the world’s most contentious, environmentally disruptive, and influential sectors. We argue that there is a certain independence or autonomy associated with these inquiries, justifying their analytical separation from internal corporate governance. Above all, these inquiries provide opportunities for scholars of global environmental politics to consolidate their activist roots and connect local realities to global debates. We offer a set of preliminary of research questions and describe points of access for future research.

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Michel, Sophie, Florent Saucède, Catherine Pardo, and Hervé Fenneteau. "Business interaction and institutional work: When intermediaries make efforts to change their position." Industrial Marketing Management 80 (July 2019): 266–79. http://dx.doi.org/10.1016/j.indmarman.2018.06.005.

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Levy, Juliette. "Notaries and Credit Markets in Nineteenth-Century Mexico." Business History Review 84, no. 3 (2010): 459–78. http://dx.doi.org/10.1017/s0007680500002208.

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Little is known about the logic of lending transactions and the development of credit markets in Mexico, or the rest of Latin America, prior to banks. We know even less about what role financial intermediaries played in these pre-banking markets, or who these intermediaries were. This article analyzes the intermediary role notaries played in the long-term credit market in Yucatan, in southeastern Mexico, in the nineteenth-century. Using a unique dataset of mortgages from the notarial records in the Yucatan state archive, the article shows that, in the absence of banks, notaries facilitated access to credit, and that, in the institutional and political context of Yucatan, both entrepreneurship and monopoly were being fostered.

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Vallejo, Bertha, Banji Oyelaran-Oyeyinka, Nicholas Ozor, and Maurice Bolo. "Open Innovation and Innovation Intermediaries in Sub-Saharan Africa." Sustainability 11, no. 2 (January 14, 2019): 392. http://dx.doi.org/10.3390/su11020392.

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This study explores the innovation intermediaries’ landscape in sub-Saharan Africa, considering Science Granting Councils (SGCs) as the key intermediaries in the system. Based on extensive desk research, personal interviews, and an online survey, the study discusses the roles and functions performed by SGCs as intermediators and influences of science, technology, and innovation (STI) policy. The results of the analysis corroborate the need for institutional and systemic changes to enable SGCs to perform their role. The realities, resources, and constraints at the local level cry out for the adaptation of current and future partnerships to the local context. The study concludes that only by tailoring partnerships to the development of capacity at the local level can SGCs perform effectively as influencers of national STI policy and mediators of partnerships with foreign development actors.

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Glušac, Luka. "Local public libraries as human rights intermediaries." Netherlands Quarterly of Human Rights 36, no. 2 (April 20, 2018): 133–51. http://dx.doi.org/10.1177/0924051918772968.

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Traditionally, the literature has recognised the role of public libraries in the promotion of human rights, through their efforts in making information accessible to anyone, irrespective of their personal circumstances. At the same time, scholars have largely overlooked their potential in the protection of human rights. This article shows that libraries can make an important contribution to the protection function, by using the example of cooperation between the National Ombudsman of Serbia and 15 local public libraries in smaller municipalities. The research is framed within the Orchestration theory, recently developed by Abbott and others. We demonstrate that the relationship between the Ombudsman and local libraries can successfully be analysed with O-I-T framework, where the Ombudsman (Orchestrator) enlists local libraries (Intermediary) to become more accessible to citizens (Target), providing them with an easier way to communicate their human rights concerns and lodge a complaint with this key human rights remedy mechanism, by using the video communication software installed in local libraries. The results of this research could serve to inspire similar studies exploring the application of the Orchestration theory on the complex multi-actor human rights dynamics from a global perspective to national and local environments. While this research was inspired by the Serbian experience, its key policy implication is that innovative cooperation between a national human rights institution (NHRI) and local libraries is perfectly applicable to other states as well. The design of the project implemented in Serbia can be copied successfully worldwide, as it is not based on complicated infrastructural or institutional changes, but on creative and cost-effective idea.

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Kulumbekova, Taira E., and Aslan E. Ikaev. "FINANCIAL MARKET OF RUSSIA: PROBLEMS AND PROSPECTS OF DEVELOPMENT." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 12/3, no. 132 (2022): 79–85. http://dx.doi.org/10.36871/ek.up.p.r.2022.12.03.011.

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The article examines the state, problems and prospects of development of the modern financial market in Russia. The types of financial organizations that carry out their activities in the national financial market of Russia are considered. The problems of institutional segmentation, unification of the rules for the implementation by financial organizations of the functions of trading platforms, financial intermediaries, management companies are identified.

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Liyanagamage, Champika. "Determinants of Financial Sustainability of Financial Intermediaries." International Journal of Finance & Banking Studies (2147-4486) 10, no. 1 (January 11, 2021): 01–10. http://dx.doi.org/10.20525/ijfbs.v10i1.996.

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This paper provides interesting insights into the practices of banks and institutional setting in Sri Lanka. The sustainability and stability of banks that makes up an economy’s banking system should be sound at all time. This paper aimed at analyzing the determinants of banking sector stability in Sri Lanka. The study used a broad set of macro and bank level data covering 22 commercial banks for the period 1996-2016. The fixed effect GLS panel data model tested in this paper sets the relationship between bank stability measure; Z-score and business environment which includes bank characteristics and the elements of macro environment. The analysis of the study revealed lower level of Z-scores and thus lower level of bank stability, indicating a higher risk associated with the commercial banking sector in Sri Lanka. From among the variables tested, strong evidence was found for a positive effect of bank efficiency on bank stability and a negative effect of credit growth on bank stability. At macro level, bank stability is promoted at a higher rate when the economy is more developed and stable. The results imply that efficiency of commercial banks needs to be further improved and regulatory and policy environment should be strengthened to manage the credit growth at the bank level. Further, it is suggestive to strengthening bank supervision and other financial infrastructure in order to ensure sustainability of the banking sector. Thus, the present paper contributes the current banking literature by unveiling the explicit and unforeseen economic implications associate with individual bank operations and macro imbalance which are particularly unique in underdeveloped countries.

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Yao, Nengzhi(Chris), Qiaozhe Guo, and Christos Tsinopoulos. "The bright and dark sides of institutional intermediaries: Industry associations and small-firm innovation." Research Policy 51, no. 1 (January 2022): 104370. http://dx.doi.org/10.1016/j.respol.2021.104370.

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Polzin, Friedemann, Paschen von Flotow, and Laurens Klerkx. "Addressing barriers to eco-innovation: Exploring the finance mobilisation functions of institutional innovation intermediaries." Technological Forecasting and Social Change 103 (February 2016): 34–46. http://dx.doi.org/10.1016/j.techfore.2015.10.001.

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Pantielieieva, Nataliia Mykolaivna, Natalia Vasylivna Rogova, Svitlana Volodymyrivna Zaporozhets, and Natalia Mykolaivna Tretiak. "TRANSFORMATION IN THE ECOSYSTEM OF FINANCIAL INTERMEDIARIES IN THE CONTEXT OF DIGITALIZATION." SCIENTIFIC BULLETIN OF POLISSIA, no. 1(20) (2020): 49–59. http://dx.doi.org/10.25140/2410-9576-2020-1(20)-49-59.

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Urgency of the research. The transformation of the activities of financial intermediaries in accordance with global trends is the key to the successful implementation of the goals of the digital economy as a strategy for sustainable economic development. Target setting. The proliferation of digitalization has contributed to increased innovation in the practice of financial intermediation. Obviously, it is necessary to take into account the impact and capabilities of digital technologies in transforming the business model beyond the ecosystem approach. Actual scientific researches and issues analysis. In the scientific problems of the transformational processes of financial intermediary monitoring, systematization and generalization relate to the influence of the potential of digital technologies at the level of financial intermediary, region, financial and banking systems, leading to economic and social effects. Uninvestigated parts of general matters defining. We are interested in the problem of transforming the ecosystem of financial intermediation, the drivers of which are digital technologies. The research objective. What influence does the appearance of FinTech-companies as new financial intermediaries in the market have on innovation activity and competition. How business models and business processes of financial intermediaries are changing under the influence of digital technologies. How and what new products and services based on digital technologies are introduced by financial intermediaries. The statement of basic materials. The world trends of financial intermediation are identified and typologized. The evolutionary change of business models is proved, transformational changes are illustrated by foreign experience, the prerequisites, institutional structure, innovative activity of financial intermediaries and the regulator in Ukraine are determined. Conclusions. Knowledge of the adoption of digital technologies as drivers of transformation of ecosystems of financial intermediation can serve as a basis for further assessment and forecasting of the effects on the financial system and the national economy as a whole.

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Chebrolu, Shambu Prasad, and Deborah Dutta. "Managing Sustainable Transitions: Institutional Innovations from India." Sustainability 13, no. 11 (May 28, 2021): 6076. http://dx.doi.org/10.3390/su13116076.

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Despite the widespread disruptions of lives and livelihoods due to the COVID-19 pandemic, it could also be seen as a gamechanger. The post-pandemic recovery should address fundamental questions concerning our food systems. Is it possible to reset existing ecologically unsustainable production systems towards healthier and more connected systems of conscious consumers and ecologically oriented farmers? Based on three illustrative cases from different parts of India, we show how managing transitions towards sustainability require institutional innovations and new intermediaries that build agency, change relations, and transform structures in food systems. Lessons from three diverse geographies and commodities in India are presented: urban farming initiatives in Mumbai, conscious consumer initiatives in semi-urban Gujarat for pesticide-free mangoes, and resource-poor arid regions of Andhra Pradesh. Through these examples, we show that, beyond the technological solutions, institutional innovations such as urban community-supported farming models, Participatory Guarantee Schemes, and Farmer Producer Organisations (FPOs) can enable sustainable transitions. Sustainable lifestyles in a post COVID-19 world, as the cases show, require collective experimentation with producers that go beyond changed consumer behaviour to transform structures in food systems.

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Valero-Garcés, Carmen. "Norms, Creativity or Social Constraints? Questioning quality in community interpreting in public services." Linguaculture 3, no. 2 (December 1, 2012): 41–55. http://dx.doi.org/10.47743/lincu-2012-3-2-276.

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The evolution of Translation and Interpreting Studies as scholarly disciplines in the last decades shows a series of shifts from micro to macro approaches, from text to context, and from language to society. These shifts are also accompanied by the development or reinforcement of what could be considered new areas of study such as Translation and Interpreting in Public Services (TIPS), Sign Language Interpreting, Remote Interpreting or Interpreting in Conflict. This paper concentrates on TIPS. The growing interest in TIPS is undoubtedly linked to the migration phenomenon; and the intervention of intermediaries who make communication possible is generally recognised. Despite this fact, the controversy regarding the role(s) these intermediaries perform appears to be a barrier to academic and institutional acceptance and recognition. Following the influence of Bourdieu’s social theory, it is my intention to apply it to TIPS in an attempt to explain the performance of these ‘visible’ interpreters.

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May, Peter J., Raymond J. Burby, and Howard Kunreuther. "Policy Design for Earthquake Hazard Mitigation: Lessons from Energy Conservation, Radon Reduction, and Termite Control." Earthquake Spectra 14, no. 4 (November 1998): 629–50. http://dx.doi.org/10.1193/1.1586019.

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The failure of homeowners to invest in mitigation measures for reducing potential losses from earthquakes presents a major obstacle to stemming economic losses. The design of earthquake risk reduction policies requires an understanding of the appropriate combination of institutional and individual incentives for inducing investment in mitigation. We address the challenges of inducing protective actions by considering the experiences with energy conservation, radon reduction, and termite control. We examine the institutional design of relevant policies and programs, the role of various intermediaries, and the involvement of third parties in creating markets for services. From this, we draw lessons about the leveraging of governmental resources, fostering of markets for services, and carrying out of programs for outreach and education.

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Blokhin, A. A., and A. G. Fonotov. "Global Traps for the Russian Innovation System." World of new economy 14, no. 2 (November 1, 2020): 51–62. http://dx.doi.org/10.26794/2220-6469-2020-14-2-51-62.

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The features of the transformation of national innovation systems into an instrument of the dominance of conservative leaders of technologically developed markets are described. The difference in institutional conditions in the activities of companies in global innovation markets leads to the emergence of institutional rents. It is shown that in the framework of the formation of a global innovation system, on the one hand, the institutional strength of transnational corporations as market leaders is increasing, on the other, new global transformation processes are underway. They are based on flexible network structures and the dominance of intermediaries with the transition to a system of intermediary monopoly. Such transformations pose new threats to global crises and open up “windows of opportunity” for the Russian innovation system, which is in an institutional trap in which, due to the dominance of foreign companies in most technologically advanced markets, domestic business is forced to give them high institutional rents and is deprived of it this significant part of the resources for its development.

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Pan, Mengyang, James Hill, Ian Blount, and Manus Rungtusanatham. "Relationship building and minority business growth: Does participating in activities sponsored by institutional intermediaries help?" Journal of Business Research 142 (March 2022): 830–43. http://dx.doi.org/10.1016/j.jbusres.2022.01.030.

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Albats, Ekaterina, Allen T. Alexander, and James A. Cunningham. "Traditional, virtual, and digital intermediaries in university-industry collaboration: exploring institutional logics and bounded rationality." Technological Forecasting and Social Change 177 (April 2022): 121470. http://dx.doi.org/10.1016/j.techfore.2022.121470.

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Salygin, Valery, Irina Yarygina, and Vladimir Smirnov. "Institutional investors in Russia: problems and prospects." E3S Web of Conferences 311 (2021): 08011. http://dx.doi.org/10.1051/e3sconf/202131108011.

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The objective reasons for assessing the role of institutional investors as valuable participants of the Russian financial market and forecast trends within the framework of various projects is explained by the necessity of optimizing their participation in serving the needs of national and international economy as well as using the tools of environmental policy promotion. The subject of the research is the activity of institutional investors in contemporary environment and possible ways of making them as financial intermediaries more effective in providing the needs of the modern economy, especially in the fuel and energy complex as a key sector of the Russian Economy. The article provides a comparative analysis of the current set of factors and threats that affect the prospects of participation of institutional investors in financial markets. The complex analysis methodology, used in assessing the problems, involves considering the standpoint of the influence of a set of factors, subdivided into internal and external. Internal factors include the national market conditions and environmental issues. External factors reflect the long-term impact of a potentially adverse or favorable impact on the course of projects implementation based on institutional investors’ facility in spite of market turbulence, political sanctions or pandemic conditions.

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Mutu, Adriana. "Intermediary roles in the transposition of the Audiovisual Media Services Directive into domestic legislation: Evidence from Spain." Journal of Digital Media & Policy 12, no. 3 (November 1, 2021): 489–505. http://dx.doi.org/10.1386/jdmp_00077_1.

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This article discusses the role played by regulatory intermediaries including non-state actors, professional associations and transnational networked agencies during the transposition of the Audiovisual Media Services Directive into Spanish national legislation. It aims to fill in the gap in prior research by extending the application of the Regulator‐Intermediary‐Target (RIT) theoretical framework to the field of audiovisual media regulation. The analysis focuses on the transposition stages of the Directive after the date of entering into force on 19 December 2018, up to 19 September 2020. Data are taken from publicly available national sources and European databases. Results show that the RIT framework helps to single out the main initiatives undertaken by relevant Spanish authorities and institutional players, their methods and responses to policy challenges. Mapping out regulatory intermediaries and network of relationships established among multiple actors facilitates our understanding on the complex forms of audiovisual governance and implementation of European law.

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López-Iturriaga, Félix J. "Capital markets, financial intermediaries and financing of new technologies: International evidence from industry data." Corporate Ownership and Control 8, no. 2 (2011): 407–26. http://dx.doi.org/10.22495/cocv8i2c4p1.

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Using a sample of 18 industries from 18 OECD countries, I perform an industry-level analysis of the influence of the country’s financial-system orientation, i.e., bank- or market-oriented, on R&D intensity. Using OLS, GMM, and VAR methods, my results show a positive relation between capital market development and the importance of the most R&D-intensive sectors. Nevertheless, there are some exceptions to this pattern, which may be related to the legal and institutional framework of each country.

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Spicer, Andrew, and David Hyatt. "Walmart’s Emergent Low-Cost Sustainable Product Strategy." California Management Review 59, no. 2 (February 2017): 116–41. http://dx.doi.org/10.1177/0008125617695287.

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This article traces the strategic initiatives that Walmart undertook over the last decade to implement its ambitious vision of selling more sustainable products. This effort has been characterized by a gradual shift away from customer-facing initiatives aimed at labeling sustainable products toward supplier-facing initiatives targeted at improving environmental or social performance without raising customer prices. It highlights the role of institutional intermediaries, transaction costs, and experiential learning in shaping firms’ capabilities to translate ambitious sustainability goals into operable, mass-market initiatives.

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Lehner, Othmar M., Theresia Harrer, and Madeleine Quast. "Building institutional legitimacy in impact investing." Journal of Applied Accounting Research 20, no. 4 (December 9, 2019): 416–38. http://dx.doi.org/10.1108/jaar-01-2018-0001.

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Purpose Impact investing denominates an investment logic that combines social and environmental goals, financial returns as well as personal values. The purpose of this paper is to consider the concept of legitimacy to be an appropriate way to understand how actors in the impact investing market influence discourse in order to overcome the inherent liability of newness – based on hybrid institutional logics – through their financial and non-financial communication. Design/methodology/approach Based on two theoretically defined sets of codes, a thematic discourse analysis is conducted by analysing meaningful units derived from documents produced by case-selected actors in the impact investing industry, which are then categorised into rhetorical strategies for legitimacy building. Findings The paper finds that actors use diverse legitimisation strategies based on their relative positioning in the impact investing market. These strategies determine the actors’ main discursive foci and, in turn, are affected by the overall organisational activities, governance and mission. This study proposes and discusses eight legitimacy creating strategies of relevant archetypes of impact investing actors in their financial and non-financial communication. Following these interconnected discursive engagements, a communication gap can be demonstrated between investors, intermediaries and social entrepreneurs. Originality/value Such discursive engagement gaps can provide a theoretical lens to explain the almost non-functional market and, as practical implications, show the need for convergence and harmonisation in financial and non-financial reports and communiques. This research further contributes to theory by providing insights into the discursive creation of legitimacy, and by promoting a better understanding of the emerging field of impact investing.

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Wright, Chris F., Alex J. Wood, Jonathan Trevor, Colm McLaughlin, Wei Huang, Brian Harney, Torsten Geelan, Barry Colfer, Cheng Chang, and William Brown. "Towards a new web of rules." Employee Relations: The International Journal 41, no. 2 (February 11, 2019): 313–30. http://dx.doi.org/10.1108/er-10-2018-0259.

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PurposeThe purpose of this paper is to review “institutional experimentation” for protecting workers in response to the contraction of the standard employment relationship and the corresponding rise of “non-standard” forms of paid work.Design/methodology/approachThe paper draws on the existing research and knowledge base of the authors as well as a thorough review of the extant literature relating to: non-standard employment contracts; sources of labour supply engaging in non-standard work; exogenous pressures on the employment relationship; intermediaries that separate the management from the control of labour; and entities that subvert the employment relationship.FindingsPost-war industrial relations scholars characterised the traditional regulatory model of collective bargaining and the standard employment contract as a “web of rules”. As work relations have become more market mediated, new institutional arrangements have developed to govern these relations and regulate the terms of engagement. The paper argues that these are indicative of an emergent “patchwork of rules” which are instructive for scholars, policymakers, workers’ representatives and employers seeking solutions to the contraction of the traditional regulatory model.Research limitations/implicationsWhile the review of the institutional experimentation is potentially instructive for developing solutions to gaps in labour regulation, a drawback of this approach is that there are limits to the realisation of policy transfer. Some of the initiatives discussed in the paper may be more effective than others for protecting workers on non-standard contracts, but further research is necessary to test their effectiveness including in different contexts.Social implicationsThe findings indicate that a task ahead for the representatives of government, labour and business is to determine how to adapt the emergent patchwork of rules to protect workers from the new vulnerabilities created by, for example, employer extraction and exploitation of their individual bio data, social media data and, not far off, their personal genome sequence.Originality/valueThe paper addresses calls to examine the “institutional intersections” that have informed the changing ways that work is conducted and regulated. These intersections transcend international, national, sectoral and local units of analysis, as well as supply chains, fissured organisational dynamics, intermediaries and online platforms. The analysis also encompasses the broad range of stakeholders including businesses, labour and community groups, nongovernmental organisations and online communities that have influenced changing institutional approaches to employment protection.

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D'Souza, Julia M., K. Ramesh, and Min Shen. "The Interdependence between Institutional Ownership and Information Dissemination by Data Aggregators." Accounting Review 85, no. 1 (January 1, 2010): 159–93. http://dx.doi.org/10.2308/accr.2010.85.1.159.

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ABSTRACT: This study examines the interdependence between institutional ownership and the speed with which Standard & Poor's disseminates corporate accounting information. From the demand-side perspective, we find that quasi-indexers, who rely on corporate accounting information as a low-cost monitoring system, are the key driver of the institutional demand for speedy information dissemination. In addition, dissemination speed increases substantially for stocks listed in major market indices but decreases with high arbitrage risk or transaction costs. From the consequences perspective, we find that both transient investors and quasi-indexers gravitate to stocks with faster information dissemination, consistent with the latter using accounting information as a low-cost performance-monitoring mechanism, and the former being better enabled to implement their trading strategies in a richer information environment. Overall, this study provides new insights into the capital market information infrastructure by examining how information intermediaries and sophisticated investors impact each others' resource allocation decisions.

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OSADCHUK, M. A., A. M. OSADCHUK, and M. V. TRUSHIN. "Medical Tourism in the Context of National Health Systems` Institutional Characteristics." Journal of Environmental Management and Tourism 11, no. 2 (April 27, 2020): 229. http://dx.doi.org/10.14505//jemt.v11.2(42).01.

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Medical tourism (MT) is a modern type of medical services outside the state of residence. It links medicine and tourism. Moreover, its availability combined with economic feasibility is the main incentive for seeking medical care outside the place of residence and is an important issue for national health systems. A noticeable MT contribution to the country`s economy is possible if there is a well-thought-out infrastructure with introduction of certification procedure, a universal service and marketing system, an adequate response to the offer of additional tourism services and regulation of conditions for systematic cooperation with private intermediaries. However, the absence of interstate standards for this type of medical care leads to significant ethical, political, epidemiological and economic problems and makes it difficult to assess its professional quality. This necessitates the creation of a legal framework that takes into account the rights and responsibilities of both the medical services consumer and the host country.

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Dutt, Nilanjana, Olga Hawn, Elena Vidal, Aaron Chatterji, Anita McGahan, and Will Mitchell. "How Open System Intermediaries Address Institutional Failures: The Case of Business Incubators in Emerging-Market Countries." Academy of Management Journal 59, no. 3 (June 2016): 818–40. http://dx.doi.org/10.5465/amj.2012.0463.

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Pandey, Ashish. "Micro study of low-income households in India: a poverty expectation hypothesis?" Qualitative Research in Financial Markets 10, no. 1 (February 5, 2018): 2–14. http://dx.doi.org/10.1108/qrfm-12-2016-0051.

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Purpose The purpose of this paper is to explore whether existing theories on saving behaviour and empirical findings on the determinants of saving behaviour can be generalised for the low-income households in developing countries. Design/methodology/approach The paper adopts Van Manen’s hermeneutic phenomenology approach. Semi-structured interviews were conducted with female household members that belong to low-income households and do not have any member of the household with a permanent job. Interviews were conducted in the cities of Bangalore and Indore in India. Lived experience of participants was captured using conversational interviews and thematic analyses. Findings The paper provides evidence that the existing literature on saving behaviour is inadequate in explaining either the saving behaviour or the determinants for saving for low-income households in developing countries. This paper finds evidence of poor institutional access and reliance on informal financial intermediaries for low-income households. Research limitations/implications This paper establishes the need for a qualitative study with a large sample size to determine the policy interventions and institutional drivers that will encourage low-income households to migrate from the informal financial intermediaries to formal banking institutions. Originality/value To the best of author’s knowledge, this is the first qualitative paper aimed at understanding saving behaviour of low-income households. Extant literature is focused on normative economic frameworks that bear limited relation to the contextual realities of low-income households in the developing countries.

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Journal articles on the topic 'Institutional intermediaries'

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