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The purpose of the paper is to examine the relationship between litigation risk and payout policy.

The authors employ various regression techniques including probit, logit and tobit regression methodologies to study the relationship between litigation risk (contemporaneous measures, litigation dummy) and payout policy (dividend payout likelihood and dividend yield). The authors also conduct several robustness tests.

The authors find that firms involved in a lawsuit have a lower propensity to distribute dividends to shareholders. In particular, the authors document a negative relationship between litigation risk and payout policy as measured by dividend payout likelihood and dividend yield. The results are robust to a series of robustness tests including using alternate regression specifications, alternate measures of litigation and payout policy, a propensity-score matched sample and using an instrumental variable.

The paper identifies another determinant of payout policy and documents another avenue whereby legal institutions affect corporate payout policy. The link between litigation risk and payout policy is of interest to the business community, financial economists, management and the investing public.

The purpose of this paper is to understand the association between litigation risk and working capital management.

The authors employ four different regression techniques (OLS regressions, regressions with industry and time controls, median regressions, and Fama Macbeth regressions) to study the relation between litigation risk (contemporaneous and lagged measures) and working capital management (cash conversion cycle (CCC) and its components). The authors also conduct numerous robustness tests.

The authors find that high-litigation risk firms tend to have longer CCC. Decomposing CCC into days receivable outstanding, days inventory outstanding and days payable outstanding, the authors find that high-litigation risk firms have longer receivable periods, take a longer time to convert inventory to cash and do not pay their suppliers promptly. These results are robust to a series of robustness tests including using an alternate measure of working capital and accounting for firm type (high-tech vs labor intensive).

This paper contributes in several ways to the litigation and corporate finance literature. The authors identify another determinant of working capital management and document another avenue whereby legal institutions affect short-term financial decision making. The link between litigation risk and working capital management is of interest to the business community, financial economists, management and the investing public.

Drug cryptomarkets increase information available to market actors, which should reduce information asymmetry and increase market efficiency. This study aims to determine whether cryptomarket listings accurately represent the advertised substance, weight or number and purity, and whether there are differences in products purchased from the same listing multiple times.

Law enforcement drug purchases – predominantly cocaine, methamphetamine, MDMA and heroin – from Australian cryptomarket vendors (n = 38 in 2016/2017) were chemically analysed and matched with cryptomarket listings (n = 23). Descriptive and comparative analyses were conducted.

Almost all samples contained the advertised substance. In most of these cases, drugs were either supplied as-advertised-weight or number, or overweight or number. All listings that quantified purity overestimated the actual purity. There was no consistent relationship between advertised purity terms and actual purity. Across the six listings purchased from multiple times, repeat purchases from the same listing varied in purity, sometimes drastically, with wide variation detected on listings purchased from only one month apart.

In this data set, cryptomarket listings were mostly accurate, but the system was far from perfect, with purity overestimated. A newer, larger, globally representative sample should be obtained to test the applicability of these findings to currently operating cryptomarkets.

This paper reports on the largest data set of forensic analysis of drug samples obtained from cryptomarkets, where data about advertised drug strength/dose were obtained.

The digital age requires people of all ages to communicate and organise their lives through digital technologies. The project EQualCare investigates how the growing population of older people living alone is managing this transition, how it shapes their (non-)digital social networks and what changes on a local level need to be brought about. This paper aims to give insight into the process of participatory action research (PAR) with older people in the community across four countries and reflects on experiences made by academic and co-researchers.

Following the emancipatory underpinnings of PAR, which aims to reduce inequalities through collaboration and co-design, EQualCare involved nine teams of co-researchers across Finland, Germany, Latvia and Sweden making older people the centre of policy development. Co-researchers were involved in formulating research aims, collecting data, reflecting on data, formulating and disseminating recommendations for local policy stakeholders.

Co-researchers’ motivation to invest considerable time and effort was driven by a desire to create a more equal future for older people living alone. Moreover, they were keen to involve marginalised older people and became frustrated when this proved difficult. Power dynamics played a role throughout the process but became productive as roles and responsibilities were renegotiated. Doing PAR with older people can be emotionally challenging for co-researchers when negative feelings around ageing are encountered.

The paper advances understanding on the process of PAR in ageing research by reflecting on the social, cultural and political contexts of doing PAR with diverse sets of older people.

Conceptualizations of sustainability and the Anthropocene are expressed in static terms, with the Earth’s biosphere viewed as imposing immutable limits. Yet, increased access to outer space, with tourism as an important facilitator, challenges past limitations. This chapter examines the implications of advances in space tourism for the concepts of sustainability and the Anthropocene. The former is complicated by access to outer space, which may bring about a raft of calamities but also potentially immense resources and even the possibility of ensuring our species’ long-term survival by settling the cosmos. This chapter also analyzes problems incurred by the Anthropocene’s emphasis on terrestrial geology in an era of increasing ability to leave the Earth.

This paper aims to establish a systematically constructed defence offset technology transfer (TT) process description and to identify the process pain points and critical success factors from the supplier perspective.

A novel integrated case study and Straussian grounded theory approach under the interpretative assumptions and purposive sampling in a global defence industry organisation are presented.

The TT is approached from the process modelling point of view, and a detailed operations description covering the end-to-end TT process across a defence industrial participation project is presented. The findings suggest that local recipient’s management, financial resources and planning, supply chain management and local production planning are the main factors of an efficient process.

This is a single case study, only reflecting the supplier view. Future research could explore the other dimensions of the process to confirm the identified factors playing a role over time.

To date, the body of TT research has focused on the factors influencing the technology absorption and the identification of meta mechanisms between the supplier and recipient organisations in a context of a multinational corporation and as an intra-firm activity, providing little insight to the actual practical operational level TT process. This study seeks to fill this gap by advancing a more profound understanding of the process activities and the main factors through which the local recipient organisation can best influence the project’s success and manage the inter-organisational TT operations more effectively in a highly technologically complex operational environment.

The cycle of external indebtedness of dependent countries has become a huge constraint on any strategy for radical social change.

Argentina has recently entered a new process of debt overhang and renegotiation with the International Monetary Fund and private global creditors. The dominant debate around the country's foreign debt revolves around the conditions that can guarantee the sustainability of repayment. The underlying objective is to remain in the debt system that produces and reproduces dependency.

This chapter will seek to analyze the question of debt sustainability from another point of view: Is it possible to guarantee the (financial) sustainability of the debt at the same time as guaranteeing the sustainability of life? Our argument is that by remaining in the global debt system, Argentina creates conditions that violate the requirements for the sustainability of human and nonhuman life. Drawing on a discussion from Marxist dependency theory and the traditions of Marxist feminism and environmentalism, we will discuss how the debt sustainability argument presupposes the impossibility of reproducing life. In particular, we will show how the conditions required to guarantee debt sustainability in Argentina entail the deepening of the superexploitation of the “productive” and “reproductive” labor force, and the exacerbation of extractivism, putting social reproduction in crisis.

This chapter uses Goffman’s concept of total institutions in a comparative case study approach to explore the role of psychotropic drugs in the process of transinstitutionalization.

This chapter interprets psychotropic drug use across four institutionalized contexts in the United States: the active-duty U.S. military, nursing homes and long-term care facilities, state and federal prisons, and the child welfare system.

This chapter documents a major unintended consequence of transinstitutionalization – the questionable distribution of psychotropics among vulnerable populations. The patterns of psychotropic use we synthesize suggest that total institutions are engaging in ethically and medically questionable practices and that psychotropics are being used to serve the bureaucratic imperatives for social control in the era of transinstitutionalization.

Psychotropic prescribing practices require close surveillance and increased scrutiny in institutional settings in the United States. The flows of mentally ill people through a vast network of total institutions raises questions about the wisdom and unintended consequences of psychotropic distribution to vulnerable populations, despite health policy makers’ efforts regulating their distribution. Medical sociologists must examine trans-institutional power arrangements that converge around the mental health of vulnerable groups.

This is the first synthesis and interpretive review of psychotropic use patterns across institutional systems in the United States. This chapter will be of value to medical sociologists, mental health professionals and administrators, pharmacologists, health system pharmacists, and sociological theorists.

This paper aims to share how the Centre for Ageing and Dementia Research co-designs research within a national programme of work to improve the lives of older adults and those affected by dementia. Through examples of this work, the authors identify the barriers and enablers to participatory approaches and lessons to inform future involvement activities.

This study reflects on implementing the UK National Standards for Public Involvement into practice. Of international relevance, the observations span the research process from research prioritisation and design to research implementation and knowledge exchange.

This study demonstrates the importance of using a relational approach, working toward a common purpose and engaging in meaningful dialogue. Only through offering choice and flexibility and actively learning from one another can co-design lead to synergistic relationships that benefit everyone.

Key implications for researchers engaged in patient and public involvement are be receptive to other people’s views and acknowledge expertise of those with lived experience alongside those with academic expertise. Training, resources and time are required to effectively support involvement and meaningful relationships. A nominated contact person enables trust and mutual understanding to develop. This is an ongoing collective learning experience that should be embedded throughout the entire research process.

This paper demonstrates how the standards are implemented with people who are often excluded from research to influence a national programme of work.