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This study investigates the impact of insider-ownership of publicly traded firms on their performance, cost of debt (COD) and cost of equity. We use a sample of 104 non-finance listed companies of Pakistan for the period from 2006 to 2016. Our study is conducted in Pakistan as a developing country in which insider-ownership is dominant, and a weak external corporate governance mechanism increases the payoffs from insider-ownership. We use feasible generalized least square (FGLS) regression methods to examine these hypotheses. Based on agency theory, we find that insider-ownership enhances firm performance. Furthermore, our results show that insider-ownership reduced the COD and equity. Higher ownership decreases the opportunistic behavior of insiders. It also reduces the creditor’s perception of the likelihood of default on loan payments and reduces agency issues among shareholders. The insider will invest in positive NPV projects which will help maximize shareholders’ wealth and minimize the COD. Similarly, the relationship between insider-ownership and cost of equity is significant but negative. Supporting the convergence of interest increase in ownership helps in aligning the goals of managers and stakeholders whereby the insider will focus on value creation by minimizing equity cost.

Evaluation of any given student's responsiveness to intervention depends not only on how effective the intervention is, but also whether the intervention was delivered as intended as well as in the appropriate format and according to the most useful schedule. These latter elements are referred to as treatment integrity and treatment intensity, respectively. The purpose of this chapter is to define and describe how treatment integrity and intensity can be incorporated in the evaluation of outcomes associated with individualized intervention delivery.

We compare environmental impacts associated with incoming foreign direct investment versus domestic capital in China. We use aggregate data on Chinese provinces’ economic and pollution indicators to explore the effects of the financial origin of fixed capital. Our simultaneous models consider three prime channels through which these effects work: economic scale, sectoral composition, and pollution intensity. Results show that emissions associated with foreign financed capital are lower than with domestically financed capital for some but not all of the considered types of pollution.

The authors use Agarwal's (1992, 1997) research methodology for analyzing the intersection of gender, poverty and the environment in rural India and apply it to the case of fishing communities in Newfoundland. Here too, environmental degradation, “statization” and privatization of hitherto public resources, as well as technological development, and erosion of community management systems, effect similar adverse consequences on women. In both cases the effects are magnified by a retrenchment of liberal ideology that shrivels state social programs. We find the devaluation of women's fishing knowledge, their decreasing health and general nutrition, and the gendered nature of financial and temporal-spatial stress are associated with these larger trends.

We investigate the interaction of debt covenants and tax accounting on the adoption of Financial Interpretation No. 48 (FIN 48). We examine how firms respond to the potential tightening of covenant slack upon FIN 48 adoption and whether these actions are penalized by creditors and anticipated by equity markets. We find that upon FIN 48 adoption, the majority of sample corporate borrowers increase their tax reserves and reduce equity. Firms close to debt covenant violation were even more likely to increase tax reserves upon FIN 48 adoption; however, the size of the adjustment was relatively smaller, suggesting that the FIN 48 standards limited, but did not eliminate, firms use of discretion in reporting uncertain tax positions to avoid costly covenant violations. For firms near net worth debt covenant violation, the act of decreasing equity upon FIN 48 adoption imposes real economic costs, as the average cost of debt increased by 43 basis points. Finally, we extend prior research on the market response to FIN 48 by showing how the market response to FIN 48 adoption is a function of debt covenant slack and tax aggressiveness. Specifically, the cumulative abnormal return at the FIN 48 exposure draft release date is negative only for tax aggressive firms that are close to debt covenant violation.

This chapter examines how libraries can help create socially and ecologically compassionate culture by hosting repair events. The introduction provides a general overview of repair events, as well as how they fit into the mission of public libraries and support sustainability goals. This chapter explores the impacts of repair events through the lens of the five conditions of collective success, doughnut economics, the right-to-repair movement, education, cultural practices, accessibility, and social infrastructure. The second part of the chapter provides a case study of Wellfleet Public Library on Cape Cod, Massachusetts, a library that has successfully implemented repair events. The final section offers an overview and step-by-step guide of how libraries can implement repair programs.

Since the 1950s, Ocean Spray cranberry growers have typically seen themselves in terms of their membership in the Ocean Spray cooperative rather than as cranberry growers. This association with the cooperative is so powerful that both members and independents alike believe that without Ocean Spray, the cranberry industry would not exist as it does today. Yet, as a way to recoup the losses resulting from the recent cranberry glut, some member-growers have proposed selling the cooperative. Although the sale would have generated a large sum of money for them, growers voted overwhelmingly against it. In order to understand why growers identify so closely with the cooperative, this paper intends to demonstrate how Ocean Spray’s influence transcended its role as a marketing cooperative to that of a significant social institution.