Legalization of cannabis for medical and recreational use in a number of countries has led to the search for sources of capital for the further development of companies. This article analyzes the global cannabis securities market, as well as current trends in this market. The purpose of the study is to uncover the potential of IPOs as a tool for raising capital in the global cannabis market. The scientific novelty lies in the relatively recently legalized industry. As a result (...) of the study, the peculiarities of the cannabis market were identified and the key players in the market and their consumers were identified. It also identified factors that contribute to the development or decline of the global cannabis stock market. (shrink)

Issues of social justice underlie the clamour for greater gender balance in top-management. The present study reveals that pursuit of such social justice is also value-enhancing in relation to the longer-run performance of initial public offerings stocks, especially where female board members are unencumbered by family-connection with other directors. This study examines the economic benefits of board gender diversity for state- and privately controlled firms in the Hong Kong IPO market. Gender board diversity is much less common in state-run IPO (...) firms. Within the subset of privately controlled IPO firms, distinction exists between entities that accommodate family-connected board officers and those that do not. Specifically, this study focuses on family-ties between board members. This issue allows for finer-grained assessment of family influence on firm performance. Stronger post-listing stock, return-on-assets and sales-on-assets performance arise in privately controlled firms without family-connected board members and in state-run entities. Gender diversity thus serves as a positive, but only when female director presence is untrammelled by family associations between directors. However, there is little evidence of a link between female board representation and IPO underpricing. Relative to state-backed issuers, privately controlled firm boards accommodate more women, younger officers and a broader mix of nationalities, but appear more-inclined to unify CEO and chair positions. Board duality, the fraction of independent directors and directors’ age and nationality exhibit little relation with initial and aftermarket stock returns. In prescriptive terms, minority investors gain from the inclusion of female directors, especially when IPO firm directors are unencumbered by family-affiliation with other board members. Results therefore add to the clarion of calls for greater female board presence. (shrink)

We examine initial public offering (IPO) holdings in the mutual funds of four large investment banks and five large non-investment banks during the period 1997 through 2002. Investment banks hold IPOs with different characteristics than IPOs held by noninvestment banks, and they also tend to hold IPOs in different types of funds than non-investment banks. We classify holdings as to whether the IPO lies outside or inside the fund's objective. Investment banks hold IPOs outside the fund (...) objective in 27% of the fund/IPO pairs while non-investment banks hold outside their objective in just 5.4% of fund/IPO pairs. We see significant differences in IPO underpricing for both groups as well. For example, when non-investment banks hold IPOs outside a large capitalization fund objective, they select IPOs with 52% higher underpricing as measured by first-day returns. (shrink)

On December 9, 1999, VA Linux issued shares to the public and left over $900 million on the table for investors. In the prospectus, the investment banker Credit Suisse First Boston (CSFB) stated it would receive a 7% gross spread as its compensation for underwriting the shares. Yet the SEC alleges some investors paid enormous commissions to CSFB in the form of a kick-back immediately after obtaining the IPO shares. Hence, CSFB had an economic interest in the IPO and there (...) was not a full distribution of shares. This apparent violation of NASD Rule 2110 raises questions as to the credibility of the financial markets. (shrink)

Using a sample of Chinese to-be-listed firms during the period of 2006–2012, this study examines the influence of CEO-auditor dialect sharing (CADS) on pre-IPO audit quality and further investigates the moderating effects of auditor reputation and audit firm industry specialization. On the basis of information in personal identification cards, this study hand-collects data about CADS, and then provides strong and consistent evidence to show that CADS is significantly positively related with discretionary accruals (the inverse proxy for audit quality), suggesting that (...) CADS leads to the collusion between the CEO and the signing auditors, elicits pre-IPO earnings management, and eventually impairs pre-IPO audit quality. Moreover, both auditor reputation and audit firm industry specialization attenuate the positive effect of CADS on discretionary accruals. Furthermore, sensitivity tests suggest that above findings are robust to different measures of CADS and discretionary accruals, and above conclusions still stand after controlling for the endogeneity. Lastly, the findings using the post-IPO sample further validate the negative association between CADS and pre-IPO audit quality. (shrink)

Publication date: 28 April 2021 Source: International Letters of Social and Humanistic Sciences Vol. 90 Author: Sarah Kinya Mburugu Listing of a company in the securities exchange has been observed to be followed by underpricing in the first day and long term period of underperformance in terms of pricing in the subsequent days. Consequently, there has been a considerable curiosity from stakeholders, investors and academics to comprehend the assessments of why companies go public and the issues surrounding the short and (...) long-run performance of newly issued equities. Underpricing is necessary to induce uninformed investors to participate in IPO offering when faced with adverse selection from informed investors. This often leads to first day price not reflecting a fair value of the IPO. The objective of the study was to determine the long-run performance IPOs and effects in the Kenyan stock market for the period 2007-2014. A descriptive survey research design was employed in the study. The population of the study encompassed all the 64 listed companies at the NSE as at 2016. The study employed a non-probability purposive sampling technique. Data collected for this study was secondary data obtained from NSE website, NSE price lists and the Central Bank of Kenya website for the period 2007 to 2014. The data obtained was analyzed using Statistical Package for Social Science. Mean Average Buy and Hold Returns, Abnormal Returns and Cumulative Abnormal Returns were used to calculate the performance of the stocks. T-statistic for CAR was computed to the test for its significance. T-test was conducted at 95% confidence level to find if MABHR and CAR were statistically significant after IPOs announcement. (shrink)

This study examines the influence of underwriter–auditor relationship on pre-initial public offering earnings management. Using a sample of Chinese to-be-listed firms, we find that a close UAR, as reflected in repeated collaborations between an underwriter and an audit firm in IPOs, is positively associated with pre-IPO earnings management. This association is more pronounced for firms with politically connected auditors/underwriters, firms with less reputable auditors/underwriters, firms located in provinces with weak legal environment, firms to-be-listed on boards with lax listing requirements, (...) and firms whose auditors are with low industry specialization, and legal liability exposures. We provide further evidence that UAR is associated with greater likelihood of irregular activities in post-IPO period and poorer post-IPO financial performance. To the extent that we control for alternative explanations and potential endogeneity, our results suggest that the collusion incentive is likely to drive repeated collaborations between underwriters and auditors in the Chinese IPO market. Our findings provide interesting implications for auditors, investors, and regulators seeking to understand the Chinese IPO market. (shrink)

ABSTRACT:Despite extensive research on organizational virtue, our understanding about factors that promote virtue within organizations remains unclear. Drawing on upper echelon theory, we examine the relationship between five top management team characteristics and organizational virtue orientation —the integrated set of values and beliefs that support ethical traits and virtuous behaviors of an organization. Specifically, we utilize prospectuses of initial public offering firms and 10-K post-IPO filings to explore how TMT composition with respect to member age, tenure, education, functional background, and (...) gender influences OVO. Additionally, we examine the moderating effects of organizational size, and argue that the more expansive structures and processes associated with larger organizations diminish the main relationships. Our findings, using two sources of data, are consistent, but somewhat mixed in their support for our hypotheses. Overall, TMT characteristics do appear to influence OVO, but in more complex and counterintuitive ways than initially expected. (shrink)

Firm managers make ethical decisions regarding the form and quality of disclosure. Disclosure can have long-term implications for performance, earnings manipulation, and even fraud. We investigate the impact of venture capital (VC) backing on the quality and informativeness of disclosure controls and procedures for newly public companies. We find that these controls and procedures are stronger, as evidenced by fewer material weaknesses in internal control under Section 302 of the Sarbanes–Oxley Act, when companies are VC-backed. Moreover, these disclosures are informative (...) and are more likely to be followed by subsequent financial statement restatements than are disclosures made by non-VC-backed IPO companies. (shrink)

Based on the assumption that the long-term value of a venture capital satisfies the algebraic Brownian motion, we develop a continuous-time exit model of venture capital under different exit modes, namely, initial public offering and mergers and acquisitions. The employee incentive problem is analyzed jointly with the exit decision of the firm in terms of the exit timing and the exit mode. Further, the problem of capital exit is considered from two perspectives, namely, optimal venture capital and social welfare maximization, (...) and the differences between these exit decisions are compared. Our model predicts that the timing of an IPO, the purpose of which is to maximize the utility of the capitalists, lags behind the exit timing, whose purpose is to maximize social welfare. Using a numerical analysis, this paper also proves that increasing the production efficiency, lowering the interest rates, and improving risk management can make the exit decision of venture capitalists converge with that of maximizing social welfare. (shrink)

Organizational virtue orientation (OVO), an organizational-level construct, refers to the integrated set of beliefs and values that support ethical character traits and virtuous behaviors. To advance the study of organizational virtue, we examine OVO in firms making their initial public offerings (IPOs), with respect to key external stakeholders that serve as financial intermediaries (i.e., venture capital firms and underwriting banks). Drawing on stakeholder and resource dependence theories, we argue that mutual interdependencies occur between financial intermediaries and IPO firms such (...) that venture capital firms’ ownership levels and underwriter reputation are positively associated with the selection of more virtuous IPO firms. We also argue for the moderating relationship of IPO firm age on these main relationships; since IPO firms have more history and information availability, less importance will be placed on OVO in the selection process. In support of our hypotheses, the results of this study suggest the organizational virtue of IPO firms influences the selection decisions of financial intermediaries by reflecting positively on these key stakeholders to improve legitimacy and reputation. (shrink)

Black and Gilson have argued that “venture capital can flourish especially – and perhaps only – if the venture capitalist can exit from a successful portfolio company through an initial public offering, which requires an active stock market.” But nothing in the Black and Gilson analysis requires that the exit option be a domestic capital market. In this article, I use the phenomenon of Israeli hi-tech companies going public on the Nasdaq as a case study to explore the connection between (...) a venture capital industry and domestic capital markets in a world of global capital and product markets. (shrink)

Social capital can serve as informal governance in weak investor-protection regimes. Using hand-collected data on entrepreneurs’ political connections and firm ownership, we construct several original measures of social capital and examine their effect on the performance of entrepreneurial firms in China after their initial public offerings. Political connections or a high percentage of external investors tend to enhance firm performance, but intragroup related-party transactions commonly lead to performance decline. These forms of social capital have a strong influence on the performance (...) of Chinese firms, whereas formal governance variables such as board size or board independence have little effect. Although social capital may serve as an informal governance mechanism and effectively substitute for formal governance mechanisms in an emerging market, this role of social capital raises several ethical concerns, notably the development of rent-seeking and crony capitalism. (shrink)

Статья посвящена рассмотрению актуальных вопросов, связанных с особенностями применения отечественными банковскими учреждениями процедуры IPO. В процессе исследования автором выделен ряд факторов, которые способствуют развитию IPO в банковском секторе страны и подтверждают целесообразность использования публичного размещения акций в качестве эффективного источника повышения капитализации банков в Украине. Также особый акцент сделан на существующих ограничениях и трудностях, которые препятствуют выходу украинских банков на публичный рынок.

Despite much research now being published on Environmental, Social, and Governance (ESG) investments and Initial Public Offerings (IPOs) withdrawal risk, there appears to be a lack of evidence on the prospective IPO withdrawal risk associated with voluntary disclosure of ESG policies. This paper investigates the influence of ESG disclosure on IPO withdrawal by comparing voluntary ESG disclosure to conventional IPOs in the international market. A large data set is employed here, containing 33,535 failed and successful IPOs from (...) 1995 to 2019 from several nations with their own legal systems, cultural norms, and economic systems. The findings reveal that voluntary disclosure of ESG practices does significantly reduce the likelihood of an IPO withdrawal, by as much as 48%. These findings strongly suggest that organizations engaged in ESG activities perceive voluntary disclosure as an incentive, to adhere to social expectations. Consequently, reducing the asymmetry of information between IPO participants minimizes the withdrawal risk these companies face, hence diminishing doubts about their legitimacy. The results have consequences for IPO businesses, investors, researchers, and regulators. (shrink)

The purpose of this paper is to trace the American Society for the Control of Cancer's (ASCC) influence on the Portuguese Institute of Oncology's (IPO) Bulletin. The time period featured is from 1934 to 1940, which spans the first two decades of the newly formed Portuguese dictatorship, known as the Estado Novo (1933–1974). The analysis of the ASCC's “imprint” on the IPO's Bulletin aims to shed new light on how American culture influenced Portugal, from its first appearance at the beginning (...) of the 20th century. It brings together the disciplines of history of science and history of art and visual studies, in order to analyse these campaigns' strategic relationship with their “patients and contributors to be.” The public is encouraged by this means not only to seek timely assistance, but also to participate financially in the “cancer cause.” This is achieved by means of international consumer culture media in everyday forms, such as film, adverts in written form, and exhibitions publicising the cause. Lastly, this analysis approaches transnationalism, modernism, and the scientific nature of the Estado Novo's nationalism from new and innovative angles, allowing for a “rethinking” of said nationalism. (shrink)

Psychedelic or ecodelic medicines (e.g., psilocybin, ayahuasca, iboga) for the care and treatment of addiction, post‐traumatic stress disorder, cancer, cluster headaches, anxiety, and depression have surged to the forefront of discussions about mental health in the US, leading to the emergence of well‐capitalized biotech companies offering multimillion‐dollar IPOs. Venture capital website Pitchbook reports “continuing investor interest and growing acceptance of what until recently was seen as a fringe area of medicine.” As scholars, activists, and practitioners who have been healed (...) by these medicines and applaud the recent wave of decriminalization after a long, strange trip of mass incarceration and widespread dangerous misinformation, we look forward to a culture that makes these medicines available in a safe and affordable way that respects the lineages of the knowledges that are essentially and not accidentally bundled with these plants—Indigenous and counterculture wisdoms for whom these medicines were never “fringe,” but always foundational. In place of corporadelia's pursuit of standardization, we emphasize the care and wisdom of the Indigenous and countercultural teachings—traditions that have made psychedelics available to the emerging corporate/research partnership in the first place. These knowledge traditions offer foils to the ongoing translation of university peer‐reviewed research into market copy, technical articles, and IPOs, and the concomitant emergence of psychedelic pundits. In particular, we examine instances where prominent researchers have overstated the findings of existing clinical trials in public‐facing representations of the field. We argue that these corporate priorities and tactics are being aided by a new wave of psychedelic “thought leaders” who seek to delegitimize non‐hierarchical approaches to knowledge production and community support within a psychedelic commons. While prominent psychedelic psychiatrists and behaviorists are focused on rooting out and transforming individual habits of mind, we argue that there is another, latent potential for psychedelics to draw attention to—and transform—the invisible, hegemonic infrastructures and ideologies that subtly naturalize and perpetuate deeply unequal societies. (shrink)

The present study assessed the degree to which probabilistic reasoning performance and thinking style influenced perception of risk and self-reported levels of terrorism-related behaviour change. A sample of 263 respondents, recruited via convenience sampling, completed a series of measures comprising probabilistic reasoning tasks (perception of randomness, base rate, probability, and conjunction fallacy), the Reality Testing subscale of the Inventory of Personality Organization (IPO-RT), the Domain-Specific Risk-Taking Scale, and a terrorism-related behaviour change scale. Structural equation modelling examined three progressive models. Firstly, (...) the Independence Model assumed that probabilistic reasoning, perception of risk and reality testing independently predicted terrorism-related behaviour change. Secondly, the Mediation Model supposed that probabilistic reasoning and reality testing correlated, and indirectly predicted terrorism-related behaviour change through perception of risk. Lastly, the Dual-Influence Model proposed that probabilistic reasoning indirectly predicted terrorism-related behaviour change via perception of risk, independent of reality testing. Results indicated that performance on probabilistic reasoning tasks most strongly predicted perception of risk, and preference for an intuitive thinking style (measured by the IPO-RT) best explained terrorism-related behaviour change. The combination of perception of risk with probabilistic reasoning ability in the Dual-Influence Model enhanced the predictive power of the analytical-rational route, with conjunction fallacy having a significant indirect effect on terrorism-related behaviour change via perception of risk. The Dual-Influence Model possessed superior fit and reported similar predictive relations between intuitive-experiential and analytical-rational routes and terrorism-related behaviour change. The discussion critically examines these findings in relation to dual-processing frameworks. This includes considering the limitations of current operationalisations and recommendations for future research that align outcomes and subsequent work more closely to specific dual-process models. (shrink)

Abstract:While a ubiquitous phenomenon, initial public offerings (IPOs) have received no attention in the ethics literature. We provide an overview of a series of potential conflicts of interest that pervade the IPO process. We also report the results of an empirical assessment of IPOs and those elements that may inform a substantive moral hazard faced by key players in the period prior to and just after an IPO.

This case examines the rise and fall of WeWork—a company that experienced one of the most dramatic changes of fortune in technology company history. For several years, WeWork was a Silicon Valley darling, growing at breakneck speed with visionary Adam Neumann at the helm. By some estimates, Neumann’s company was worth $47 billion in January of 2019. But when the company filed paperwork in preparation for going public later that year, investors balked at the details revealed in the documents: billions (...) of dollars in losses and lots of questionable behavior on the part of Neumann (including numerous conflicts of interest involving his personal business dealings). The IPO was postponed and later withdrawn; Neumann was forced to step down as CEO; and by May of 2020 the company’s valuation had dropped to $3 billion. Exploring this recent history will provide an opportunity to ask what lessons can be drawn from the rise and fall of WeWork, and from the economic and social context that enabled its growth. (shrink)

In our global economy knowledge-based industry is takingmore importance. Recent years have seen the success of anincreasing number of start-up companies, most technology-basedenterprises financed by private persons or companies, or through venture capital funds and public offering. In manyyears, those companies are faced at certain critical momentswith matters involving intellectual property rights, insiderinformation and raising money. These facts all have an ethicaldimension. There is an increasing need for ethical behaviourfrom all parties involved. A code of conduct of all partiesshould be (...) applied. This paper describes the growth processof a company and the valuation of an innovation project. Itwill overview a number of ethical issues, at different stagesin the innovation business, and in the lifetime of a start-upcompany, such as the problems of intellectual property, theconfidentiality of information, the negotiation processbetween the entrepreneur and the financier, the marketingof raising funds and of an IPO, and finally the informationand insider trading. The paper concludes with aplea for increased ethical ethical behaviour and the needfor rules of best practice for all parties: the inventor,the entrepreneur, the financial investor, and other stakeholders. (shrink)

Research on firm initial public offering (IPO) performance has primarily utilized an economics of information perspective, which assumes that publicly available information is incorporated into a stock’s price when it is issued. However, the valuation process associated with IPOs remains manifest with considerable uncertainty for the prospective investor. This study argues that corporate political activity undertaken prior to the firm’s IPO acts as a signal to investors, reducing the uncertainty the market places on the value of the firm’s equity. (...) Utilizing a sample of 180 IPOs, we show that the more a firm invests in corporate political activity prior to its IPO, the better its IPO performance. These findings provide evidence that corporate political activity acts as a nonmarket signal, influencing investor behavior by reducing the information asymmetries between investors and the target firm. (shrink)

Prva Međunarodna filozofska olimpijada održana je 1993. godine u Bugarskoj na inicijativu Odjela za filozofiju Sveučilišta u Sofiji. Otad se neprekidno održava svake godine u mjesecu svibnju u jednoj od država sudionica. Olimpijada se održava pod patronatom najveće međunarodne asocijacije filozofskih društava FISP, uz suradnju s UNESCO-ovim Odjelom za humanističke znanosti, filozofiju i etiku znanosti i tehnologije. Osim same popularizacije filozofije, ciljevi IPO-a su poticanje na kritičko, radoznalo i kreativno mišljenje, promicanje filozofskog mišljenja u znanosti, umjetnosti i društvenom životu, promišljanje (...) o etičkim problemima u modernom svijetu te poticanje intelektualne razmjene među mladim ljudima iz različitih zemalja u svrhu promoviranja kulture mira. Odlukom Upravnog odbora Hrvatskoga filozofskog društva i u suradnji s Agencijom za školstvo, Republika Hrvatska na filozofskoj olimpijadi sudjeluje od 2007. godine. Olimpijada je potaknula niz nacionalnih natjecanja iz filozofije diljem svijeta. Ovo međunarodno natjecanje dobar je način za popularizaciju filozofije među srednjoškolskom populacijom.The first International Philosophy Olympiad was held in 1993 in Bulgaria. It was initiated by the Department of Philosophy at the University of Sofia, Bulgaria. It is held annually in the month of May in one of the participating countries. The Olympiad is endorsed by the International Federation of Philosophical Societies , the largest international association of its kind, in collaboration with UNESCO. In addition to popularising philosophy, the aims of IPO are encouraging critical, inquisitive and creative thinking, promoting philosophical thinking in science, art and social life, reflecting on the ethical problems of today’s world, and encouraging intellectual exchanges amongst the young people of different countries with the purpose of promoting the culture of peace. The Republic of Croatia has been participating in IPO since 2007 . The Olympiad has inspired a whole series of national competitions in philosophy around the world. This international competition is an excellent way to popularise philosophy amongst high school students. (shrink)

Although legitimacy theory provides strong arguments that environmental, social and governance disclosure and performance can help mitigate firm-specific risks, this relationship has been repeatedly challenged by conceptual arguments, such as ‘transparency fallacy’ or ‘impression management’, and mixed empirical evidence. Therefore, we investigate this relationship in the revelatory case of initial public offerings, which represent the first sale of common stock to the wider public. IPOs are characterised by strong information asymmetry between firm insiders and society, while at the same (...) time suffering from uncertainty in firm legitimacy, culminating in amplified financial risks for both issuers and investors in aftermarket trading. Using data from the United States, we demonstrate that voluntary ESG disclosure reduces idiosyncratic volatility and downside tail risk and higher ESG ratings have lower associated firm-specific volatility and downside tail risk during the first year of trading in the aftermarket. We provide theoretical arguments for the relationships observed, suggesting that companies striving for ESG performance and communicating their efforts signal their compliance with sustainability-related norms, thus acquiring and upholding a societal license to operate. ESG performance and disclosure help companies build their reputation capital with investors after going public. We also report that ESG disclosure is a more consistent proxy for ex-ante uncertainty as an indicator of aftermarket risk, thereby replacing some of the more conventional measures, such as firm age, offered in the existing literature. (shrink)

We study whether changes in analyst recommendation ratings systems encouraged by the implementation of NASD 2711 in 2002 are associated with improved objectivity and independence in analyst recommendations. Using recommendations issued during windows surrounding major investment banking events, we show that reductions in analyst optimism following the reforms concentrate in the recommendations of analysts whose employer adopted a three-tier rating system at the time of the reforms, and that this effect is generally stronger for analysts whom the underlying incentives to (...) engage in unethical behaviour is greatest. We also find evidence that adoption of the three-tier system improved the market’s perception of the objectivity of analyst recommendations issued after SEOs, and that for hold and sell-type recommendations this effect was stronger for analysts subject to the greatest potential ethical conflicts. While we find some evidence of a general post-reform increase in the profitability of recommendations issued following equity transactions, this improvement was only conditioned by changes to the rating system in our IPO sample. (shrink)

A project manager’s emotional intelligence (EI) is essential to project success. However, the mechanism in this cause and effect remains a black box in extant literature. China is now the world’s largest construction market, and figuring out the mechanism of construction project manager’s (CPM’s) EI on project success is meaningful for developing the global construction market. This study conducted an in-depth interview with 24 CPMs with more than 5-year experience in construction project management. The grounded theory was employed to profile (...) the application of CPM’s EI and to build the multilevel mechanism that explains the influence of CPM’s EI on project success. The mechanism framework conforms to the existed input–process–output (IPO) theory. It consists of a team-level mechanism (including the positive team atmosphere, shared vision, and team cohesion) and an individual-level mechanism (i.e., organizational citizenship behavior directed at the organization, perceived supervisor support, trust in leader, and subordinate’s psychological and emotional health). This study further proposed that the effect of this mechanism does not work immediately but develops with time passing. Implications for further research and project management practice are discussed in the end. (shrink)

Abstract:While a ubiquitous phenomenon, initial public offerings (IPOs) have received no attention in the ethics literature. We provide an overview of a series of potential conflicts of interest that pervade the IPO process. We also report the results of an empirical assessment of IPOs and those elements that may inform a substantive moral hazard faced by key players in the period prior to and just after an IPO.

This study examines how the reference-point effect and sunk-cost fallacy interact with stakeholder theory and influence how investors evaluate corporate social performance. We propose that ex-ante (pre-IPO) corporate social performance influences ex-post (post-IPO) perceived riskiness and that this relationship is U-shaped. We also evaluate how CEO duality and company age moderate this U-shaped relationship. Using young and newly public entrepreneurial firms in China, and focusing on stock returns in the secondary market, empirical results and robustness tests provide strong support for (...) our hypotheses. (shrink)

Este artigo traça o percurso do projecto "Humanização dos cuidados paliativos em contexto domiciliário", cujo objectivo geral foi estudar a satisfação das familias dos doentes oncológicos relativamente ao apoio prestado ao domicílio pelas equipas de acompanhamento do IPO. Seguidamente, a partir dos elementos de contexto, identifica o referencial de estudos nacionais com interesse relevante para o tema. Por último, faz urna síntese dos diversos aspectos envolvidos na controversia científica suscitada pelo questionário modelo SERVQUAL, neste caso com a particularidade ser aplicado (...) à avaliação da satisfaçdo dos cuidadores relativamente aos cuidados paliativos prestados ao domicílio. This article describes de pathway taken by the project "Humanization of home delivered palliative care". Its main objective was to study the satisfaction of oncological patients' families regarding the support given at home by the health team of the Instituto Português de Oncologia (Portuguese Oncological Institute). The objectives of this article are twofold. Firstly, it reviews the literature on this topic, drawing on major national studies. Secondly, it puts together a summary of the disparate arguments brought forward by the scientific controversy on the application of SERVQUAL type questionnaires, in particular, the model which is applied to measure the satisfaction of caregivers in the context of home delivered palliative care. (shrink)

We investigate how a broker firm’s initial public offering affects its analysts’ fiduciary duty of providing independent and objective recommendations. We find that the analysts of newly listed broker firms issue more positively biased recommendations in the first 2 to 3 years after their employers’ IPO than before the IPO. The increase in the recommendation bias is greater among analysts of affiliated brokers and brokers that raise additional capital after their IPO than among other analysts. Newly listed broker firms experience (...) significant increases in revenue and trading commission, and the increases are positively related to recommendation bias, after controlling for many other factors. More importantly, recommendation bias decreases as newly listed broker firms season and as the importance of trading commission declines. This suggests that public exposure through a broker firm’s IPO does not enhance the integrity and professional conduct of its financial analysts. Rather, economic incentives make financial analysts more accepting of unethical behavior. The overall results imply that the public trading of financial gatekeepers compromises the ethical relationship between financial service professionals and society in general. (shrink)

This paper analyses the role played by members of the Curie family in the visual diplomacy of cancer treatments. This relationship started in 1921, when Marie Curie travelled to the US, accompanied by her two daughters, Ève and Irène, to receive a gram of radium at the White House from President Warren Harding. In the years that followed, Ève Curie, as the biographer and natural heir of radium discoverers Marie and Pierre Curie, continued to contribute to the visual diplomacy of (...) cancer campaigning. Two events will be analysed through an interdisciplinary lens, merging history of science and visual-diplomacy studies, to show how the legacy of the Curies played out in the international consolidation of pre-war transnational alliances in the fight against cancer. One involves the picture of the chargé d'affaires of the France Republic, Jules Henry, receiving the biography authored by Ève,Madame Curie, at the French embassy in Washington. The other concerns the photograph of Ève visiting the Portuguese Oncology Institute (IPO) in 1940, which was immediately reproduced in the Institute's bulletin in order to raise awareness of cancer prevention strategies, and also captured in film as a propaganda tool for the Estado Novo regime (1933–74). (shrink)

The aim of this study was to explore patients’ experiences of using the Integrated Palliative care Outcome Scale (IPOS) during specialized palliative home care. The study adopted a qualitative approach with an interpretive descriptive design. Interviews were performed with 10 patients, of whom a majority were diagnosed with incurable cancer. Our findings suggest that the use of IPOS as a basis for conversation promotes safe care by making the patients feel confident that the care provided was adapted to (...) them which gives them a sense of safety. IPOS facilitated discussions between patients and nurses about care needs. The patients believed that using IPOS enabled reflection on their well‐being and life situation. In conclusion, the study finds that using IPOS is beneficial and provide ways to enable person‐centered care and with advantage could be used in specialized palliative home care. The results may help overcome barriers and facilitate the use of patient‐reported outcome measures (PROMs). To enable the use of PROMs such as IPOS in palliative home care, nurses need education and opportunities to develop routines that enable patients’ voice to be heard and thereby compose a basis for care. (shrink)