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This chapter discusses how strategic philanthropy, especially for neglected health issues such as palliative care, can help improve quality of life for patients and their families. It defines palliative care as responsive care. It is care that begins from the diagnosis of any serious illness, for both children and adults. Palliative care aims to address the pain and other symptoms related to the physical, social, and spiritual needs of both the patient and their family. The chapter showcases the work of Cipla, an Indian pharmaceutical company committed to supporting this proof of concept. In 1997, Cipla’s philanthropic capital was deployed to build a Palliative Care and Training Centre which remains the nucleus of the palliative care effort even today. Cipla’s commitment to palliative care has continued to grow and develop resilience over the past three decades. The chapter outlines how the three key elements of supporting direct services, training health-care providers, and engaging in national-level collaborations for policy change have helped build a system and approach that is sustainable and future-proofed. In showcasing the work of Cipla, this chapter shows how, by making sustainable changes to the palliative care ecosystem and developing an integrated model of care within the public health care system, philanthropic capital has been able to align with government priorities and attract more philanthropists to this space. This chapter elaborates how the vision of palliative care has been promoted across India and illustrates how strategic giving can focus on a neglected issue and work towards sustainable change.
This chapter looks at the extent of gender-based violence (GBV) in South Africa, policy and implementation gaps, and the role of multi-party stakeholder partnerships, including the contribution of the Vodacom Foundation, in fighting this gross human rights violation. The chapter outlines how the Foundation’s contribution to the fight against GBV has evolved into a resilient ecosystem that supports prevention, response, and victim and survivor empowerment through partnerships and mainly using information communication technologies (ICTs). GBV is one of the gross human rights violations globally which spiralled during the COVID-19 pandemic. It is defined by the United Nations (UN) as harmful acts directed at an individual based on their gender. South Africa, which is a constitutional democracy founded on the values of human rights and human dignity, has some of the highest levels of GBV in the world, leading the country’s president to declare GBV the second pandemic. As the chapter tracks the evolution of the ecosystem, it also shares how the Foundation has started transforming the relationship with its partner civil society organisations (CSOs) into mutually beneficial partnerships, thereby demonstrating that big business can do more than just generate revenues and can be a formidable partner to address societal ills and help strengthen civil society. The chapter explains how governments, CSOs, and big business can build strong and sustainable multi-party partnerships as a catalyst to addressing societal challenges.
As the development and use of artificial intelligence (AI) continues to grow, policymakers are increasingly grappling with the question of how to regulate this technology. The most far-reaching international initiative is the European Union (EU) AI Act, which aims to establish the first comprehensive, binding framework for regulating AI. In this article, we offer the first systematic analysis of non-state actor preferences toward international regulation of AI, focusing on the case of the EU AI Act. Theoretically, we develop an argument about the regulatory preferences of business actors and other non-state actors under varying conditions of AI sector competitiveness. Empirically, we test these expectations using data from public consultations on European AI regulation. Our findings are threefold. First, all types of non-state actors express concerns about AI and support regulation in some form. Second, there are nonetheless significant differences across actor types, with business actors being less concerned about the downsides of AI and more in favor of lax regulation than other non-state actors. Third, these differences are more pronounced in countries with stronger commercial AI sectors. Our findings shed new light on non-state actor preferences toward AI regulation and point to challenges for policymakers balancing competing interests in society.
This chapter focuses on promoting high-impact philanthropy for the Global South through learning from the experiences of Co-Impact, a global collaborative that advances inclusive systems change and gender equality through grant-making and influencing philanthropy through its network connections. It explains the constraints in philanthropic practice the Co-Impact model is designed to address and how to advance ‘trust-based philanthropy’ that both learns from and inspires others. The chapter argues why, under certain circumstances, pooling funding can achieve greater impact, and the importance and power of philanthropic networks to promote collaboration and impact. It provides a practical approach to addressing inherent power dynamics in philanthropy and discusses the spectrum between collaborative philanthropy and pooled funds. It also tells the story of Co-Impact’s growth and outlines its key learnings with respect to mobilising philanthropic resources. This experience reflects the belief that philanthropic capital can do more and better and that a crucial mechanism for achieving its potential is through active networks. It clarifies how the concept of networks goes beyond loose transactions and collections of people and organisations and instead embodies the idea of a community of interconnected and like-minded individuals and organisations that share similar values, working together to maximise impact. The chapter reinforces the idea that systems change through collaborative communities is critical to ensure that philanthropic interventions result in improved outcomes for millions of people where systems and societies are just and inclusive.
We introduce a test to assess mutual funds’ “conditional” performance that is based on updated information and corrects data snooping bias. Our method, named the functional false discovery rate “plus” ($ {\mathrm{fFDR}}^{+} $), incorporates fund characteristics in estimating fund performance free of data snooping bias. Simulations suggest that the $ {\mathrm{fFDR}}^{+} $ controls well the ratio of false discoveries and gains considerable power over prior methods that do not account for extra information. Portfolios of funds selected by the $ {\mathrm{fFDR}}^{+} $ outperform other tests not accounting for information updating, highlighting the importance of evaluating mutual funds from a conditional perspective.
Roger Smith and Harry Kellogg frequently remarked that Silicon Valley Bank (SVB) was all about relationships. The statement sounds like a cliché but until one truly absorbs its meaning it does not resonate and may soon be forgotten as relationships are challenging to understand, cultivate, and nurture strategically. Relationships with marquee VC firms and tech startups in the VC ecosystem were what set SVB apart from public venture lenders, private venture lenders, and other banks that dared to compete in venture debt lending. SVB bankers worked hard at building relationships and expanding the products and services to capture 100 percent of the VC ecosystem. The path was not always smooth, but the bankers tried; they finessed the edges and founded SVB Capital, SVB Premium Wine, and SVB Securities. Peculiarly, no bank rivalled to SVB on its path of expansion.
Apple Computer, Inc. released its “Think Different” campaign in 1997 to mark the return of Steve Jobs and to resurrect the struggling computer company. The Think Different campaign “got an audience that once thought of Apple as semi-cool, but semi-stupid to suddenly think about the brand in a whole new way.”1 Interestingly, be different is what Silicon Valley Bank (SVB) embraced and practiced from its beginning in 1983. The Bank distinguished itself from the crowded banking sector by serving entrepreneurs in the region since the early 1980s. At the time SVB was formed and officially named, “Silicon Valley” was considered unattractive for banking to capture the public attention and adopted the available moniker.
This chapter focuses on the approach of the Indonesia-based Tanoto Foundation as a Global South-originated philanthropy with a far broader Asian and even global perspective, and on how it leveraged partnerships for impact. Now into its fortieth year of operations, the Tanoto Foundation has shown how philanthropy that is originated in the Global South is able to engage in knowledge exchange via global communities of practice to help create regional platforms to inspire collaboration. The pandemic has illustrated the importance of an evidence-based approach in the Global South whose results can be measured before they are scaled up and where collaboration is critical. Indonesia is a case in point, having suffered from natural disasters in the midst of the pandemic, challenging both humanitarian relief and disaster recovery. To help meet these challenges, the Foundation partnered with local (district) and national (ministry) government bodies, international development organisations, business entities, and philanthropic organisations both local and overseas. Successes in responding to the pandemic included the harmonisation of data-collation methodologies at the national level and the sharing of newly codified knowledge from the Foundation’s work. This chapter details how Tanoto Foundation built its internal institutional capacity, and maximised its impact by leveraging multiple relationships that can amplify resources, capacity, and knowledge.
The three founders of Silicon Valley Bank (SVB) epitomize Californian determination and pragmatism. Medearis, the Stanford professor, who for ten years listened to his students struggling to obtain loans, decided to float an idea of a community bank for tech companies. The professor sought out a banking consultant who brought in a bank executive who carried his dream of founding his own bank, the trio together established a community bank for tech. Their backgrounds and convictions illuminate the startup spirit synonymous with Silicon Valley. Their journey led them to select what was then an uncommon name, Silicon Valley Bank, in 1983.
I develop a dynamic model to investigate how labor mobility impacts firms’ decisions. In the model, firms make investment and financing decisions, hire labor with different skill and mobility levels, and set wages through bargaining. The model predicts that, in response to an increase in labor mobility, high-skill firms operate with lower financial leverage, become less responsive to investment opportunities, and invest at lower rates, while low-skill firms remain unaffected. I confirm these predictions in the data using shocks to workers’ mobility across firms. The results are useful in understanding the effects of labor mobility changes driven by government policies or technological shocks, such as the rise of remote work.
This study analyzes meetings of firms with policymakers at the European Commission (EC). Meetings with Commissioners are associated with positive abnormal equity returns for U.S. firms. Firms of the European Union (EU), however, do not experience significant value increases. We identify regulatory outcomes as a channel that can rationalize this difference in value effects of political access. U.S. firms with meetings are more likely to receive favorable decisions in their EC merger decisions than their EU peers. The results suggest that cross-border political access can alleviate uncertainties and alleged discriminatory behavior of regulators in foreign markets.
Consistent with the idea that business ethics is a form of applied ethics, many virtue ethicists make use of an extant (pure) moral philosophy framework, namely, one developed by Alasdair MacIntyre. In doing so, these authors have refined MacIntyre’s work, but have never really challenged it. In here questioning, and developing an alternative to, the MacIntyrean orthdoxy, I illustrate the merit of business ethicists adopting a broader philosophical perspective focused on constructing (new) theory. More specifically—and in referring to action sports (e.g., mountain biking, snowboarding)—I propose that an external good motive is not only much more consistent with virtuous practical excellence than MacIntyreans acknowledge, but that such a motive is fundamental to identifying and explaining how practices can be deliberately created (by businesses). Consequently, and in stark contrast with MacIntyre’s deeply pessimistic outlook on modern business and society, I propose that those who value practices might celebrate our current era.
We investigate whether chief financial officers (CFOs) serving on U.S. corporate boards benefit shareholders in M&A transactions. We find that acquisitions made by firms with CFOs on boards have significantly better acquirer announcement returns. This is due to the CFO director’s ability to select targets with better strategic and financial fit. CFO board membership can create shareholder value if there are effective governance regimes restraining managerial entrenchment and CFOs’ interests are closely aligned with those of shareholders through equity ownership. Furthermore, sitting on boards enables CFOs to secure more and cheaper financing for their acquisitions.
This study examines the role of entrepreneurs’ multi-country resources and mobility in achieving transnational entrepreneurship survivability. Outlined by the Forms of Capital model through the context of transnational entrepreneurship, this research provides a layer of understanding on the individual-opportunity-venture nexus in entrepreneurship through to exploring the way individual resources contribute towards venture survivability in a dynamic environment. The findings indicate that there are four core configurations associated with long-term entrepreneurial survivability, with geographical mobility is present as the necessary condition in achieving the outcome of interest. Theory-wise, this study speaks to the discourse of individual-opportunity-venture nexus through the configurations revealed from the findings. Practice-wise, the configurations will be useful for transnational entrepreneurs and policymakers interested in developing policies to encourage transnational venture sustainability.
Startups play a crucial role in advancing the Sustainable Development Goals (SDGs) through their innovative solutions that increasingly focus on sustainability. However, they face significant challenges in effectively assessing their contribution to the SDGs. In our study, by adopting an action-research methodology, we develop and introduce Prosper, i.e., a tailored social impact assessment (SIA) framework for startups. First, we conducted a comprehensive review of existing methods and standards for assessing social impact to establish an initial foundation of Prosper. Second, we refined Prosper based on an empirical validation on five startups. By embracing action research, we aim to empower startups with a robust and user-friendly tool, which facilitates SIA and representation. We also contribute to the literature aimed at overcoming the existing sustainability barriers for startups and to respond to the call for assisting them in reporting about SDGs. We also discuss practical implications and future research avenues.