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We investigate whether active involvement of private equity firms in their portfolio companies during the holding period of a later-stage private equity investment is related to increased levels in operating performance of these companies. Our analysis of unique survey data on 267 European buyouts and secondary performance data on 29 portfolio companies using partial least squares structural equation modeling indicates that private equity firms, that is, their board representatives, can increase operating performance not only by monitoring the behavior of top managers of portfolio companies, but also by becoming involved in strategic decisions and supporting top managers through the provision of strategic resources. Strategic resources, in particular expertise and networks, provided by private equity firm representatives in the form of financial and strategic involvement are associated with increases in the financial performance and competitive prospects of portfolio companies. Operational involvement, however, is not related to changes in operating performance. In addition to empirical insights into the different types of involvement and their effects, this chapter contributes to the buyout literature by providing support for the suggested broadening of the theoretical discussion beyond the dominant perspective of agency theory through developing and testing a complementary resource-based view of involvement. This allows taking into account not only the monitoring, but also the more entrepreneurial supporting element of involvement by private equity firms.

We study a microfounded search model of exchange in the laboratory. Using a within-subjects design, we consider exchange behavior with and without an intrinsically worthless token object. While these tokens have no redemption value, like fiat money they may foster greater exchange and welfare via the coordinating role of having prices of goods in terms of tokens. We find that welfare is indeed improved by the presence of tokens provided that the economy starts out with a supply of such tokens. In economies that operate for some time without tokens, the later surprise introduction of tokens does not serve to improve welfare. We also explore the impact of announced changes in the economy-wide stock of tokens (fiat money) on prices. Consistent with the quantity theory of money, we find that increases in the stock of money (tokens) have no real effects and mainly result in proportionate changes to prices. However, the same finding does not hold for decreases in the stock of money.

LGBT educators have historically experienced various challenges in their schools, while school leaders have needed to balance the rights and needs of LGBT educators with sometimes unwelcoming community norms. The three iterations of this study that spanned across a decade aimed to gain an understanding of the ongoing climate for LGBT educators so that administrators utilize best practices related to policy enactment, advocacy, and enforcement – and in this chapter, relating specifically to creating an LGBT-inclusive climate in schools. Overall, the school climate for many LGBT educators continues to vary. In some respects, it has not changed dramatically from 2007 to 2017. Many participants over the three studies easily described positive and negative consequences of being out. Additionally, LGBT educators working with younger students consistently feel most unsafe being out to students to any degree, and they are experiencing an intense dichotomy of more policy and administrative support with more vehement opposition to being out as teachers. While there are still places for principals and other administrators to demonstrate stronger support for LGBT educators, these results show that their level of support is moving in the right direction.

What role does government play in determining the medium of exchange? Economists weighing in on the issue have typically espoused one of two views. State theorists credit government with the emergence and continued acceptance of commonly accepted media of exchange. In contrast, spontaneous order theorists find little need for government, maintaining that money emerges and continues to circulate as a result of a decentralized market process. History suggests a more subtle theory is required. We provide a generalized theory of the emergence and perpetuation of money, informed by both approaches and consistent with recent theoretical and empirical advances in the literature.

The purpose of this study is to investigate the socioeconomic determinants of property crimes on convicted offenders in the Chilga district correctional institution (CDCI).

This study conducted a socioeconomic determinant of property crimes on convicted offenders using quantitative research. Respondents consisted of a random sample of 170 convicted offenders in CDCI. This study used descriptive statistics, logistic regression and Pearson correlations for analyzing the quantitative data in CDCI.

The results of the study showed that the age at first engagement, educational status, offender’s immediate economic situation and previous experience of the offender were the perceived reasons in one’s major property crime offending. However, average monthly income, peer effect and family structure (grown up with) were found to be non-perceived reasons. Youths who are unmarried, illiterate and unemployed offenders had over three times more probabilities of committing theft than robbery and burglary in the winter season, especially in February, because of the determinants of illiteracy and unemployment such as negligence for the future life. Furthermore, the convicted offenders who were illiterate, unemployed and raised by single parents have engaged in theft for the first time, but burglary and robbery by employed and literate offenders in more probable.

This paper takes a fresh perspective on knowledge about property crime and economic as well as criminological theories using various bodies of academic research. This paper’s insight will be helpful to fill the literature gaps; there are lot research studies with little investigations addressing to the issue of the determinants of property crime. It will also be useful for policymakers to mitigate the determinant of property crime.

Flood vulnerability is a complex concept involving the interactions between environment, social and economic dimensions. Indicator‐based vulnerability assessment is widely used in vulnerability studies to summarise complexity and multidimensionality issues to gauge the level of vulnerability. A set of 21 environmental and socio‐economic indicators is used to quantitatively assess the three factors of vulnerability, namely exposure, susceptibility and resilience to flood at the subnational level. The construction of the vulnerability index involved the selection of indicators, their normalisation, weightage and aggregation to a final index. In addition to the Flood Vulnerability Index, three sub‐indices namely Exposure Index, Susceptibility Index and Resilience Index were generated. Based on composite indicator approach, the vulnerability of the states in Malaysia was categorised from very low to very high. The source of vulnerability is due not only to the environmental exposure to flood hazard but also contributed by the internal status of the socio‐economic factors within the vulnerable systems.

The United Kingdom Ministry of Justice recently highlighted the extent of buprenorphine (Subutex) misuse in English andWelsh prisons, naming it the third most misused drug overall. Yet little is known regarding how illicit buprenorphine is obtained in prison and what influences prisoners to use it. Qualitative research was used to explore prison drug using practices. Thirty men who were former prisoners with a history of injecting drug use were interviewed in depth about their illicit prison drug use, including buprenorphine. Interviews were conducted over 18 months, from August 2006 to January 2008 and were analysed using Framework. The misuse of Subutex by snorting emerged as a significant theme. Accounts suggested that the diversion of prison prescribed Subutex was widespread and prisoners used various tactics to obtain the medication. Various complex and interlinked reasons were given to explain why Subutex was snorted in prison. The main motivation for snorting was to experience a prolonged euphoric opiate effect, believed to help to combat the boredom of being in prison. The price of illicit Subutex in prison was linked to its availability, but it was generally cheaper than heroin, thus contributing to its use. Participants’narratives identified the belief that snorting Subutex in prison was not risk free, but risks were lower than continuing to use other drugs, particularly injecting illicit opiates. The implications of prison Subutex misuse for prisoners, prison medical services, commissioners, and prescribing policy and practice are discussed.

This paper explores the intersection of Management Buyouts (MBOs), Management Buy-ins (MBIs), and Open Innovation (OI). While MBOs have been associated with innovation in numerous studies, MBIs and their role in fostering OI remain underexplored, especially in the context of small and medium-sized enterprises (SMEs).

A Bibliometric-Systematic Literature Review (B-SLR) was conducted, analyzing 89 peer-reviewed articles from Scopus and Web of Science (1989–2022). Keyword co-occurrence analysis identified thematic clusters, including governance reforms, leadership entrepreneurship, and strategic partnerships, as critical enablers of OI in MBOs and MBIs.

The study highlights research directions, such as OI mechanisms, cross-industry comparisons, and performance evaluation frameworks. It underscores the differences in innovation outputs and organizational resilience between MBOs and MBIs, suggesting tailored strategies to optimize OI adoption.

The study is limited to literature from Scopus and Web of Science and focuses on conceptual frameworks rather than empirical testing. Future research should explore sector-specific dynamics and long-term innovation outcomes.

MBO/MBI managers can leverage the insights to foster OI, address innovation barriers, and build resilient businesses by adopting strategic partnerships and effective governance structures.

The research highlights the potential of MBOs/MBIs to drive innovation and economic growth in SMEs, particularly in industries requiring collaborative innovation strategies.

This study fills a significant gap by connecting MBIs to OI, offering a conceptual framework and a research agenda that align buyout strategies with sustainable innovation practices.