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This paper aims to examine a cluster-based strategy implemented in the German federal state of North Rhine-Westphalia under the 2007-2013 “Regional Competitiveness and Employment” programme. Departing from traditional discretionary approaches, a substantial share of the funds was now allocated on a competitive basis. The authors analyse the resulting distribution of funds across stakeholders and sub-regions and try to assess the pros and cons of this process, which constitutes a novel delivery system for cluster policies.

Following a literature review, the paper applies two sets of regression models to explain the distribution of funds under the new policy delivery system. Interviews with stakeholders provide evidence on the efficacy and efficiency of the competitive funding process.

The changes introduced in the 2007-2013 funding period benefit universities and research organisations, as well as intermediary organisations, whereas the private sector and especially small firms capture a rather small piece of the pie. Contrary to the “innovation paradox” hypothesis, structurally weak sub-regions did not lose out in state-wide funding contests. The presence of universities with an overall high volume of third-party funding is the key variable explaining the spatial distribution of funds. This interview evidence identifies the duration of the selection process and its administrative complexity as main weaknesses, which the authors attribute to bureaucratic rationality on different levels.

This is the first analysis of a competitive funding scheme at the sub-national level, using the German federal state of North Rhine-Westphalia as a case study. It sheds light on the mechanisms of funding allocation in the 2007-2013 funding period of the European Union’s cohesion policy, which was reoriented towards supporting regional competitiveness and employment in response to the Lisbon Agenda. While competitive funding is still seen as mobilising regional stakeholders and improving the quality of projects and the selection process, these findings highlight administrative complexity as a main deficiency, which has partly been addressed in the 2014-2020 funding period.

This chapter uses an intellectual capital (IC) qualitative approach for assessing the bio health technologies entrepreneurial ecosystem of a university located in Southern Europe, aiming to identify the role played by IC in fostering the sustainable success of the entrepreneurial ecosystem. There has been limited research dedicated to deepening the knowledge of the entrepreneurial ecosystems’ dimensions, using an IC lens, in the context of university cities with different dimensions. Small cities may not have some dimensions, so developed, comparing with the ones of the ecosystems of large urban centers. This chapter uses a qualitative approach funded in a case study exploring internal and external stakeholders of a Portuguese entrepreneurial ecosystem, UBImedical, targeted at the bio health sector. The study is part of an exploratory study funded in the scope of a European Project, aiming to explore in a pioneering way the application of the dominant triad of capitals forming IC and, thus, identifying and understanding the dimensions of different entrepreneurial ecosystems. The case study reveals that the IC’s dimensions more critical for the success of the bio health entrepreneurial ecosystems are the structural capital and the relational capital, although human capital is perceived as a basic prerequisite for fostering the entrepreneurial ecosystem’s performance. The results are funded in primary and qualitative data collected from the interviews developed to previously identified external and internal stakeholders of this type of entrepreneurial ecosystem under study.

The purpose of this paper is to explore the use of blockchain technology in contested markets. The authors specifically consider the development and utilization of this accounting system as a device that might democratize contested markets for vulnerable populations, supporting contested entrepreneurs while “cooling” the moral contestation to the market.

This study analyzes the relationship between vulnerable populations and contested market activities, the inclusive development and potential trust created by a blockchain accounting information system and how this interaction potentially creates support for economic and social systems.

This paper demonstrates that, in an era of decreased trust especially as it relates to a digital, globalized marketplace, blockchain has the potential to create democracies of access, trust and agency. This system overcomes many of the deficiencies associated with transparency and accountability and connects market participants with society, strengthening its potential to bridge two opposing vulnerable population viewpoints necessary for possible contested market development.

The authors contribute to a deeper understanding of the role of emerging technologies in the interconnectedness between vulnerable populations in a contested market. Recognizing that blockchain is an imperfect version of its ideal intention, the authors also discuss the limitations of the system with respect to corruption, collusion and potential issues of adoption, and how this reduces the influence of blockchain as a “cooling” device within contested markets.

The authors provide an illustrative example whereby an entire industry might be persuaded from avoidance to promotion of new traceability devices and supported in the development of an accessible market.

Global government's economic support for social systems continues to experience significant declines. With ever-degrading healthcare, infrastructure, public education, childcare, etc., new sources of economic influx are often desired. One potential source of additional funds is from the tax revenues derived from contested market transactions, those stigmatized industries often operating illegally. With substantial public distrust, blockchain potentially provides such industries with democratization and the trust necessary to transition the industry into a legal environment, with tax revenues benefiting various social systems.

This study goes beyond the preliminary discussions of the benefits and consequences of blockchain. Instead, the authors focus on the use of blockchain within contested markets and its ability to influence vulnerable populations. The authors also consider the use of blockchain-based accounting information systems to provide a holistic and more democratic platform from a regulatory, market participant and societal standpoint.

This paper aims to look at the nature of the relationship between the marketing of the contemporary visual arts, cultural tourism and city and urban regeneration. This exploratory study of the marketing of the contemporary visual arts in Leeds has, as its background narrative, the emergence of BritArt.

The growth of contemporary visual arts provides the context for a case study of the Northern Art Prize, which was first awarded in 2007.

The study found a number of factors for success that can aid urban renewal and city regeneration. Private sector marketing expertise levered into the management of the project was one critical success factor. Another was that private sector funding freed up marketers and artists and allowed risk-taking. Participants highlighted a lack of vision for the contemporary visual arts in the city and region and a strong desire for new collaborative working and new governance structures for the delivery of arts marketing and cultural tourism.

The Northern Art Prize offers much for the marketing of contemporary visual arts, cultural tourism, city branding and urban renewal. Investing in and marketing of the arts is argued to serve as a stimulus that can bring a range of benefits for the business and wider community. Marketing, especially arts marketing, can help deliver social, economic and urban regeneration.

This chapter reports on a hybrid sector of disability provision in Australia and the changes to the sector due to the shift to person-centred care in Australia. It explains the significant changes to the way the sector will respond to government and to client demands and how the organisations are responding to this by re-structuring and building new performance measurement systems including Social Return on Investment.

The first part of the chapter is descriptive of the change to person-centred care in the Australian disability sector using public reports. The second part of the chapter looks at the change at a micro level using an analysis of the literature.

Findings illustrate how the National Disability Insurance Scheme has brought about significant change between sectors of government and between providers, both government and non-government. Organisations have had to make significant changes to adapt to the government’s policy and especially funding change. This includes setting new governance and leadership models, changed human resource management practices and performance measurement systems.

The paper is a report relatively early in the transition phases, and therefore, more evidence is needed as the system change progresses. Still, the Australian disability sector provides a powerful example of significant hybridisation changes as a result of a shift to person-centred care.

This is a dramatic change from the Australian government to impose person-centred care. The adaptations of Australian organisations provide an interesting insight for the international community.

Social impact bonds (SIBs) have become a favoured way to fund public services, including housing, prison and homelessness projects, in an era of austerity. In a growing critical literature on SIBs, a largely absent voice is that of the link worker. This paper aims to focus on the views of link workers in a SIB funded project which works with long-term entrenched rough sleepers in the East of England.

Interviews with link workers were conducted with a thematic analysis echoing many of the views expressed in the critical literature not only about the problems but also some of the advantages that SIBs offer to this type of project.

Three key themes were discomfort with the funding mechanism; flexible and innovative interventions that SIBs make possible; and problems with the outcome measures that trigger payments. This study concludes that if SIBs are to achieve their promise of providing funding which leads to effective solutions to deeply ingrained social problems, there needs to be more careful evaluation of their true benefits in comparison to publicly funded projects, adoption of more appropriate and project-specific outcome measures and a much clearer explanation and justification of the way in which SIB funding works.

Few studies have specifically explored the perceptions of front-line link workers in the homelessness sector. This study highlights not only the concerns but also the benefits associated with the use of SIB as a funding mechanism within the homelessness sector.

In today's global economy, the public routinely engages in international financial transactions via the internet. This has created opportunities for online fraud. The paper aims to explain what policymakers who are serious about providing crime victims with an effective restitution remedy can learn from the US Government's experience with forfeiture.

The paper, by an Assistant US Attorrney, combines narrative with argument and analysis.

Existing restitution law is ineffective. Prosecutors have used forfeiture laws as an indirect mean of providing compensation for crime victims, but forfeiture law has its limits. The better approach would be for Congress to authorize the pretrial seizure and restraint of assets directly for restitution, utilizing standards comparable to those that exist in current forfeiture law. To address situations where a defendant places money overseas to avoid restitution, Congress should enact international restitution laws comparable to those that exist in forfeiture to facilitate the recovery of those assets. Without these kinds of reforms, the government will continue to struggle to collect restitution.

The paper provides information of value to all involved with international financial transactions and law enforcement activities.

The purpose of this paper is to present ten myths of terrorist financing policy.

It is argued that post 9/11 literature on terrorism misunderstands the relationship between the component parts of a political movement with an armed wing and thus misrepresents the nature of terrorist financing applies the literature on crime as a business to policy on terrorist financing and concludes that there are loosely‐organised networks that engage in the fund‐raising processes of the political movement as a whole as well as its armed wing.

Financing methods vary with type of group and over time. That terrorist/paramilitary funding increasingly parallels the business of organised crime and that what is claimed to be known about terrorist funding is mostly erroneous. That funds seized have not been primarily for terrorist financing and that the seizure has done more harm than good.

Thought needs to be given to the impact of funding seizures more that simply in terms of newspaper headlines.

More effective impact can be made upon terrorist financing if a more complex approach is taken, rather than perpetuating the existing myths, which alienate more communities than they deter terrorists.

In arguing the case for libraries in general terms, McColvin was clearly eloquent and forceful. How well did the libraries he controlled fare in the annual contest for funds against other local authority services?

During 2003, compensation practices for the retail sale of mutual funds came under fire. Recent revelations about failures in the processing of mutual fund breakpoints had triggered a more in‐depth investigation into mutual fund marketing and compensation practice by securities regulators, Congress, and the states. This article focuses on the regulation of sales compensation practices primarily as it affects a broker‐dealer selling mutual funds in the retail market. It addresses the regulatory framework for three key compensation practices: (1) the use of non‐cash compensation in connection with mutual fund sales; (2) marketing and compensation arrangements providing enhanced compensation to a selling firm as well as to its sales representatives for the promotion of certain fund securities over others, such as proprietary funds over non‐proprietary funds, preferred funds over non‐preferred funds, and Class B shares over Class A shares; and (3) the use of commissions for mutual fund portfolio trades as an additional source of selling compensation for selling firms, a practice sometimes referred to as ”directed brokerage.“