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The United Nations (UN) 17 Sustainable Development Goals (SDG) places partnerships as a vital mechanism, which strengthens the implementation of change strategies. The SDG targets are ambitious; acknowledging the interconnected multifaceted issues that are currently facing society. Similarly, social marketing thought is transitioning to embrace systemic change strategies, realising no one organisation can have an impact on the emerging grand challenges. Partnerships are the 5th P in the social marketing mix, however, partnerships is also a nebulous term which has been criticised for lacking theoretical development. This study aims to answer the call from both the UN and social marketing community for further research to guide the development and implementation of impactful transformative partnerships.

A robust mixed method approach to develop and test a social marketing partnership model is presented. Trust and relationship commitment are at the forefront of successful partnership exchanges. Morgan and Hunt’s (1994) trust and relationship commitment model is extended into the social marketing domain.

The findings validate Hasting’s (2003) call for social marketers to listen to their commercial marketing counterparts, positioning trust and commitment as essential to change strategies. As the degree of complexities in the multifaceted world continues to accelerate, partnerships for change (UN SDG #17) will pay off, driving more effective and smarter collaborations amongst a diverse range of stakeholders at different levels in different networks. Partnerships will elevate social marketing to deliver systemic transformation for complex problems with far reaching collective and sustainable consequences.

With trust/mistrust critical to successful exchanges and exchange central to social marketing, quantitative measurement of the antecedents to and outcomes of partnerships can inform the evaluation, impact and management of social marketing interventions.

Three contributions are made, which support the selection, implementation and evaluation of social marketing partnerships. Key social marketing partnership characteristics are operationalised supporting the partnership selection process. Measurement scales are developed to assist in evaluating partnership relationships over time. The model is empirically tested to investigate the relationships between key mediating variables of social marketing partnerships.

This paper presents a validated 5th P Partnership model for social marketers, accelerating social marketing’s capacities to deliver systemic transformation for complex problems with far reaching collective and sustainable consequences and UN SDG #17.

Previous studies have postulated that an advance payment system (APS) positively impacts the contractor's working capital and is paramount to ensuring an efficient and effective project cash flow process. However, scant research has been undertaken to empirically establish the cash flow performance and domino effect of APS on project and organisational performance.

The epistemological design adopted a positivist philosophical stance augmented by deductive reasoning to explore the phenomena under investigation. Primary quantitative data were collected from 504 Construction Industry Development Board (CIDB) registered contractors (within the grade bandings 1–9) in South Africa. A five-point Likert scale was utilised, and subsequent data accrued were analysed using structural equation modelling (SEM).

Emergent findings reveal that the mandatory use of an APS does not guarantee a positive project cash flow, an improvement in organisational performance or an improvement in project performance.

The ensuing discussion reveals the contributory influence of APS on positive cash flow and organisational performance, although APS implementation alone will not achieve these objectives. Practically, the research accentuates the need for various measures to be concurrently adopted (including APS) towards ensuring a positive project cash flow and improved organisational and project performance.

There is limited empirical research on cash flow performance and the domino effect of APS on project and organisational performance in South Africa, nor indeed, the wider geographical location of Africa as a continent. This study addresses this gap in the prevailing body of knowledge.

This paper aims to study the effect of the establishment of bankruptcy courts on bond issuance market. This paper helps to predict that the introduction of bankruptcy courts in China can mitigate price distortions caused by the implicit government guarantees and promote the development of the high-risk bond market.

This paper exploits the staggered introduction of bankruptcy courts across cities to implement a differences-in-differences strategy on bond issuance data. Using bonds issued in China between 2018 and 2020, the impact of bankruptcy courts on the bond issuance market can be analyzed.

This paper reveals that bond issuance credit spreads increase and is more sensitive to firm size, profitability and downside risk of issuance entity after the introduction of bankruptcy courts. It also reveals a substantive increase in bond issuance quantity and a decrease in issuer credit ratings following the establishment of bankruptcy courts. In addition, the increase of credit spreads is more prominent for publicly traded bonds, those whose issuers located in provinces with lower judicial confidence, bonds issued by SOEs and bonds with stronger government guarantees. Finally, the role of bankruptcy courts is more pronounced in regions with higher marketization.

This paper relates to previous studies that investigate the impact of laws and institutions on external financing. It helps provide new evidence to this literature on how improvements of efficiency and quality in bankruptcy enforcements relate to the marketization of bond issuance. The results provide further evidence on legal institutions and bond financing.