Search results

To provide an overview of the basic model used by many peer-to-peer lending platforms and some of the key peer lending regulatory and structuring considerations under the federal securities laws.

Explains how the basic peer lending model works, how “borrower dependent notes” or “BDNs” may be offered in private placements or less commonly through public offerings, how companies engaged in peer lending are compensated, how sponsors of peer lending programs generally avoid registration as broker-dealers under the Securities Exchange Act of 1934, as investment advisers under the Investment Advisers Act of 1940 and as investment companies under the Investment Company Act of 1940, and how peer lending platforms are structured to take into account the laws that govern online transactions, consumer privacy, and other related issues.

The authors expect that peer-to-peer lending platforms will continue to mature and evolve, and they expect that the issues discussed in this article will continue to drive their structuring decisions, business models, and regulatory compliance under the federal securities laws.

Practical guidance from experienced financial services lawyers.

Certain elements of Hayek’s work are prominent precursors to the modern field of complex adaptive systems, including his ideas on spontaneous order, his focus on market processes, his contrast between designing and gardening, and his own framing of complex systems. Conceptually, he was well ahead of his time, prescient in his formulation of novel ways to think about economies and societies. Technically, the fact that he did not mathematically formalize most of the notions he developed makes his insights hard to incorporate unambiguously into models. However, because so much of his work is divorced from the simplistic models proffered by early mathematical economics, it stands as fertile ground for complex systems researchers today. I suggest that Austrian economists can create a progressive research program by building models of these Hayekian ideas, and thereby gain traction within the economics profession. Instead of mathematical models the suite of techniques and tools known as agent-based computing seems particularly well-suited to addressing traditional Austrian topics like money, business cycles, coordination, market processes, and so on, while staying faithful to the methodological individualism and bottom-up perspective that underpin the entire school of thought.

The overall goal of science is to build a valid and reliable body of knowledge about the functioning of the world and how applying that knowledge can change it. As personnel and human resources management researchers, we aim to contribute to the respective bodies of knowledge to provide both employers and employees with a workable foundation to help with those problems they are confronted with. However, what research on research has consistently demonstrated is that the scientific endeavor possesses existential issues including a substantial lack of (a) solid theory, (b) replicability, (c) reproducibility, (d) proper and generalizable samples, (e) sufficient quality control (i.e., peer review), (f) robust and trustworthy statistical results, (g) availability of research, and (h) sufficient practical implications. In this chapter, we first sing a song of sorrow regarding the current state of the social sciences in general and personnel and human resources management specifically. Then, we investigate potential grievances that might have led to it (i.e., questionable research practices, misplaced incentives), only to end with a verse of hope by outlining an avenue for betterment (i.e., open science and policy changes at multiple levels).

Increases in stockholder wealth around leveraged recapitalization (recap) announcements are related more to reductions in the firm's financial slack than improvements in operating efficiency. Moreover, while recaps significantly reduce the firm's workforce and asset base, they do not improve operating profitability. These results support the argument (often espoused by non‐finance writers) that the market for corporate control is inefficient and, in many cases, outright destructive. Alternative systems of corporate governance should be explored.

The role of the school nurse has evolved. It has expanded from administering first aid and promoting hand washing to key participation in program planning for health and educational outcomes for the school-aged child. Nurses provide leadership in promoting a healthy and safe school environment, case management of chronically ill children, collaboration between family and school, and referral to essential community resources. Additionally, the school nurse is a valuable resource on the multidisciplinary special education team. The school nurse is the health care expert in the school and is in a unique position to meet the actual and potential needs of all students – including those with special needs.

Analyzing the 2004 U.S. General Social Survey and Korean General Social Survey, this chapter attempts to show that even similar climates of associationalism in two countries can lead to differential consequences for participatory democracy, depending on the associations’ capacities to foster civic resources. This chapter first examines whether the politically desirable traits of civic virtue and social trust essential to political participation can be developed by associational membership in the United States and Korea. Second, it investigates whether associational membership strengthens, weakens, or leaves unchanged the effects of socioeconomic resources measured by educational attainment and family income on political participation especially among association members in these two countries. The results indicate that voluntary associations in the United States, compared to those in Korea, do a better job of playing the role of civic educator and even of political equalizer. First, associational membership significantly and positively affects civic virtue and social trust in the United States. Second, associational membership does not affect civic virtue and social trust in Korea. Third, the effects of educational attainment and family income on political participation among members are weak in the United States. Fourth, the effects of educational attainment and family income on political participation among members are strong in Korea. Therefore, this chapter concludes that voluntary associations do not contribute to participatory equality in Korea despite its vibrant group-centered culture, whereas their American counterparts are relatively effective in bringing about the expected outcome.

This chapter argues that the near-universal exclusion from the academy of the Shakespeare Authorship Question (or SAQ) represents a significant but little-understood example of an internal threat to academic freedom. Using an epistemological lens, this chapter examines and critiques the invidious and marginalizing rhetoric used to suppress such research by demonstrating the extent to which it constitutes a pattern of epistemic vice: that, by calling skeptics “conspiracy theorists” and comparing them to Holocaust deniers rather than addressing the substance of their claims, orthodox Shakespeare academics risk committing acts of epistemic vice, injustice and oppression, as well as foreclosing potentially productive lines of inquiry in their discipline. To better understand this phenomenon and its implications, the chapter subjects selected statements to external criteria in the form of the Association of College and Research Libraries’ 2015 Framework for Information Literacy for Higher Education, which provides a set of robust normative dispositions and knowledge practices for understanding the nature of the scholarly enterprise. The analysis reveals that the proscription against the SAQ constitutes an unwarranted infringement on the academic freedom not only of those targeted by this rhetoric, but – by extension – of all Shakespeare scholars as well.

Border security is a crucial part of the country’s broader homeland security efforts. It is a multifaceted and complex issue which attempts to accomplish two seemingly contradictory objectives – the prevention of people and goods from entering the country, while at the same time, facilitating lawful travel and trade. Although it is primarily a federal responsibility, securing the border crosses over multiple homeland security domains, as well jurisdictions. In recent years, numerous strategies and structures have been implemented to foster a whole-of-government approach to border security. This chapter presents border security in the larger context of homeland security. It examines the strategies and coordinating structures developed to create a secured border and an overview of the interaction of law enforcement agencies at the various jurisdictional levels. Although these structures create a robust network of mutually supportive agencies to effectuate border security, a major strategic challenge to securing the nation’s borders still persists.

Introduction Before any metal is immersed, it is usually exposed for some time to the atmosphere. During this period the metal normally reacts with the oxygen present in the air and forms an oxide film. It may also combine with any moisture and dissolved gases in the atmosphere to produce surface films. The presence of these surface layers affects the rate, and possibly the distribution, of any subsequent corrosion. Hence the formation of surface films in the atmosphere is discussed before the corrosion of immersed lead.