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Examines how a finance gap for small firms might be addressed by means of government policy to support informal financing initiatives. A review of both the finance and the government policy literature provides the basis for discussing and conceptualising the financing difficulties faced by small firms, the role of informal financing in alleviating certain of these difficulties and the areas where public policy is currently usefully employed in addressing such financing problems. Undertakes a questionnaire survey to collect data concerning small business awareness and use of informal finance and to identify issues concerning difficulties encountered in gaining access to finance. The results suggest that a debt finance gap may exist for a minority of firms, though an equity finance gap may represent a more significant issue for small firms. Four categories of policy action emerge from the study towards the achievement of economic and social policy objectives.

Project structuring.

The case can be used for MBA, Executive MBA, Faculty Development Program (FDP) and Management Development Program (MDP) to introduce them to the selection of procurement method, concept of value for money and project structuring in the context of the education sector.

Saryu Secondary Schools of Excellence Samiti (SSSES) functioned under the chairmanship of the Minister of Human Resource Development and was running 584 Saryu Secondary School of Excellence (SSSE) as of March 15, 2013. SSSE were focused on providing quality education to poor children, primarily from rural areas. In January 2013, SSSES was given a mandate to open 75 additional schools within one year and 500 schools within five years in rural and semirural areas to meet the demands of secondary education in India.

The Managing Director of SSSES, was preparing for the meeting to be held on March 31, 2013 to discuss various options for development of the mandated schools including involvement of private player under the Private Finance Initiative (PFI) model.

The case introduces the participants to the challenges in the education sector including public delivery system, poor economic status of students, selection of appropriate procurement method (public delivery versus buying of service from private sector) and project structuring issues. Specific objectives are: introduce participants to the challenges of delivering education services; establish the benefit of PFI in social infrastructure domain and introduce the participants to the concept of value for money; identify risks and returns under various structures; and impress on importance of non-commercial issues which may shape a project.

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Governments have overspent. In recent times the drive for economic recovery partly brought about by this overspending has seen governments screening entire portfolios of expenditure to see what they can reduce or terminate. The review process concerns the identification of goods and services which are essential to the community and on which there is an obligation for the government to fund these projects. These goods and services have been labelled Community Service Obligations (CSOs). Valid CSOs are being examined for funding while non‐valid CSOs are being examined for their potential as candidates for funding termination. Although the principles of Community Service Obligations (CSOs) have been widely applied within various public sector organizations, there is a diversity of definition and application. This can be attributed, at least in part, to historical evolution. However, with a more formal approach to the role and funding of CSOs, it is apparent that there is a diversity of perception from government to government as to how CSOs are identified and funded. This diversity is explored and compared to the proposed CSO criteria currently being examined by the Queensland Government Treasury. These definitions and guidelines in practice are not wrong but produce some distortions brought about by applying limited criteria in the CSO identification and implementation process. These limitations are discussed with reference to case studies drawn from the organizational structure of the Queensland Department of Primary Industries and from elsewhere. Focuses in particular on how the process of developing operational strategies can be limited in some instances by the exclusion from, or at least minimal input from, either the community or the line department involved. By taking the goals of equity, merit, effectiveness and efficiency of delivery of CSO products and services in Queensland, an improved process is proposed.

This paper examines the role of government procurement as a social policy mechanism within a multilateral open trading system. Government regulations globally are being transformed to foster more responsible business conduct in multinational enterprises (MNEs). Yet, concern that sustainability may present a discriminatory barrier to trade has stalled the progress of sustainable public procurement (SPP) at the international level, raising questions regarding the role and scope of the World Trade Organisation’s (WTO) Government Procurement Agreement (GPA) to align taxpayer-funded contracts with the United Nations (UN) Sustainable Development Goals.

With a focus on social sustainability, this paper reviews the grey and academic literature to assess the changing landscape of public procurement policy and supply chain legislation in high-income countries.

Frontrunner nations are adopting a mandatory approach to sustainable public procurement and due diligence legislation is elevating supply chain risk from reputational damage to legal liability. While technological innovation and the clean, green production of manufactured goods dominates the sustainable public procurement literature, the social aspects of sustainability poverty, inequality and human rights remain underrepresented.

The scope of this paper is limited to the examination of government procurement covered by the WTO-GPA (2012). Smaller value contracts, under the WTO-GPA thresholds and the category of defence are beyond the scope of the paper.

The paper focusses on the underserved topic of social sustainability in business-to-government (B2G) – business to government – supply chains arguing that for responsible business conduct to become a competitive advantage, it must be more meaningfully rewarded on the demand-side of all taxpayer-funded contracts in organisation for economic co-operation and development countries. The paper introduces the idea of priceless procurement as a mechanism to build system capacity in the evaluation of non-financial sustainability objectives.

To build the capacity to stimulate competition based on social and environmental policy objectives, the paper introduces the concept of priceless procurement in B2G contracts.

Where there has been little in‐depth understanding of sovereign wealth funds, the purpose of this paper is to describe the complex nature of one of the world's largest sovereign wealth funds, Temasek Holdings (“Temasek”), whose “active” investment strategy has been emulated by a number of other funds.

The paper draws mainly on public data in developing a case history of Temasek.

Based on this data, the paper suggests how the firm's underlying strategy seems to be about pursuing the national interests of its sovereign shareholder in both a commercial and non‐commercial manner.

Consistent with a case‐based approach, the paper presents a single example of a sovereign wealth fund.

The aggressive manner in which Temasek has built up its international portfolio coupled with the mixed impact of its “active” investment strategy raise a number of issues about the nature of an important sovereign wealth fund.

The value of the paper is in its cogent, insightful picture of the development of a sovereign wealth fund that was a pioneer of this phenomenon.

The inability of cultural institutions to make available digital reproductions of collected material highlights a shortcoming with the existing copyright framework in a number of national jurisdictions. Overlapping efforts to remedy the situation were recently undertaken in the form of EU Directive 2012/28/EU, the “Orphan Works” directive, and a new licensing scheme introduced by the UK Intellectual Property Office (UKIPO). The purpose of this paper is to empirically evaluate both the EU and UK policy approaches, drawing on data collected during a live rights clearance simulation.

The authors attempted to clear rights in a sample of 432 items contained in the mixed-media Edwin Morgan Scrapbooks collection held by the University of Glasgow Library. Data were collected on the resource costs incurred at each stage of the rights clearance process, from initial audit of the collection, through to compliance with diligent search requirements under EU Directive 2012/28/EU and the UKIPO licensing procedures.

Comparing results against the two current policy options for the use of orphan works, the authors find that the UKIPO licensing scheme offers a moderate degree of legal certainty but also the highest cost to institutions (the cost of diligent search in addition to licence fees). The EU exception to copyright provides less legal certainty in the case of rightsholder re-emergence, but also retains high diligent search costs. Both policy options may be suitable for institutions wishing to make use of a small number of high-risk works, but neither approach is currently suitable for mass digitisation.

This rights clearance exercise is focussed on a single case study with unique properties (with a high proportion of partial works embedded in a work of bricolage). Consequently, the results obtained in this study reflect differences from simulation studies on other types of orphan works. However, by adopting similar methodological and reporting standards to previous empirical studies, the authors can compare rights clearance costs between collections of different works.

This study is the first to empirically assess the 2014 UK orphan works licensing scheme from an institutional perspective. The authors hope that it will contribute to an understanding of how policy could more effectively assist libraries and archives in their digitisation efforts.

The purpose of this paper is to propose a methodology for assessing thesauri and other controlled vocabularies management tools that can represent content using the Simple Knowledge Organization System (SKOS) data model, and their use in a Linked Open Data (LOD) paradigm. It effectively analyses selected set of tools in order to prove the validity of the method.

A set of 27 criteria grouped in five evaluation indicators is proposed and applied to ten vocabulary management applications which are compliant with the SKOS data model. Previous studies of controlled vocabulary management software are gathered and analyzed, to compare the evaluation parameters used and the results obtained for each tool.

The results indicate that the tool that obtains the highest score in every indicator is Poolparty. The second and third tools are, respectively, TemaTres and Intelligent Theme Manager, but scoring lower in most of the evaluation items. The use of a broad set of criteria to evaluate vocabularies management tools gives satisfactory results. The set of five indicators and 27 criteria proposed here represents a useful evaluation system in the selection of current and future tools to manage vocabularies.

The paper only assesses the ten most important/well know software tools applied for thesaurus and vocabulary management until October 2016. However, the evaluation criteria could be applied to new software that could appear in the future to create/manage SKOS vocabularies in compliance with LOD standards.

The originality of this paper relies on the proposed indicators and criteria to evaluate vocabulary management tools. Those criteria and indicators can be valuable also for future software that might appear. The indicators are also applied to the most exhaustive and qualified list of this kind of tools. The paper will help designers, information architects, metadata librarians, and other staff involved in the design of digital information systems, to choose the right tool to manage their vocabularies in a LOD/vocabulary scenario.

The purpose of this paper is to assess the financial and intellectual issues facing the university sector as many institutions in the UK pursue alternative revenue streams. As a consequence to the increasing financial pressures, university departments are increasingly exposed to new forms of potential litigation and also face the risk to the prestige of their university and departmental brand.

A theoretical and analytical approach is adopted whereby an introduction to the topic of revenue streams is presented before a review is conducted of the two most prominent and important streams available to the higher education sector – teaching and technology transfer. The paper furthers this analysis through a discussion of the accompanying legal consequences to UK universities and offers strategies to be adopted by such institutions to avoid these pitfalls.

The investigation has identified that the pursuit of additional sources of money from teaching and technology transfer pose significant risks and should only be considered after a rigorous analysis of the associated cost by institutional and departmental management structures.

The paper offers an insight into the experience of litigation and the intellectual problems encountered by university departments in the USA. This evidence is utilised to consider how it may provide UK‐based counterparts with a guide to avoid similar problems. It will be of relevance to practitioners, managers and strategic planners in the university sector.

Most of the managers I meet (and I reckon to have met a few thousand over the last ten years) are dissatisfied with their lot. Many have an ambition to “retire at forty‐five” (or thirty‐five, depending on their age); a perceptible minority “drop out”, watched more or less wistfully by many of their colleagues; most of all, they tell you they want to do their own thing, to work for themselves.

The purpose of this paper is to explore the landscape of financial services in Africa through the prism of a selection of research papers.

This is a review of literature that focusses on access to financial services (i.e. financial inclusion) and empirical findings from research papers in this issue of the journal.

The landscape of financial services in Africa is as heterogeneous as the countries comprising the continent. Common features include low levels of financial inclusion, low financial literacy, constrained access to credit, costly credit when available, gender discrimination in account ownership, and use and inefficient foreign exchange markets. Nevertheless, there are promising innovations, especially the mobile money innovation, which have the potential to foster more inclusive financial systems.

All the papers in this volume are based on original research shedding new insights on various aspects of financial services in Africa.