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In mid-February 2009, amid the global financial crisis, the news was grim. The U.S. economy had been in recession since December 2007. If the downturn lasted into early spring, it would become America's longest postwar recession. The economy had shed 3.5 million jobs over the previous 12 months, the worst 12-month period on record. Bank lending was plummeting; the few banks with funds available were holding onto them. With this massive shift into liquid assets (cash and cash equivalents) and away from lending of any sort (even for productive uses or, in many cases, the working capital firms needed to survive), the economy would likely grind to a halt. On this brisk mid-February day in Washington, Timothy Geithner and Ben Bernanke rolled up their sleeves and reevaluated their plans to address the nearly impossible task of righting the ship. In terms of monetary and fiscal policy, were they doing all they could to halt this epic slide? Were they doing too much?

This study focuses on home country institutions as sources of variation in the level of foreign investment into India. Our findings support the idea that institutional voids found in India are less of a deterrent to investments from home countries with high levels of institutional development than from home countries with similar institutional voids. Overall, foreign investments in India are found to be significantly related to the strength of institutions within home countries. The levels of both approved and realized foreign direct investment (FDI) are strongly influenced by economic factors and home country regulative institutions, and weakly influenced by home country cognitive institutions. When considered separately, the cognitive institutions and regulative institutions within a given home country each significantly influence the level of approved/realized FDI into India. However, when considered jointly, only the strength of regulative institutions is predictive of FDI inflows.

The study of corruption was slow to take root in the social sciences, but has produced a notably more complete and precise understanding of why corruption persists around the world. This chapter begins with an exploration of some of the most robust findings of the corruption literature in business-related fields. Central to these early studies is the establishment of the role of institutions in shaping behavior within specific geographies and the lasting impact of activity within those geographies on firms that subsequently invest outside of them. The chapter also depicts the inherent challenges of the development context of many of the largest known incidents of government corruption with an exploration of the TSKJ (Technip, Snamprogetti, KBR, Japan Gas) case in Nigeria. The chapter concludes with a summary of the most informative findings of this area of research and a call for the most productive future areas of research.

This case is designed to present students with the challenges of formulating a discounted-cash-flow (DCF) analysis for a strategically important capital-investment decision. Analytically, the problem is representative of most corporate investment decisions, but it is particularly interesting because of the massive size of the American Centrifuge Project and the potential of the project to significantly affect the stock price. Students must determine the relevant cash flows, paying close attention to the treatment of input costs, selling prices, timing of investment outlays, depreciation, and inflation. An important input is the appropriate cost of uranium, which some students argue should be included at book value, while others argue that market value should be used. Although the primary objective of the case is to focus on the estimation of cash flows, students are provided with a straightforward set of inputs to estimate USEC's weighted average cost of capital. The case is designed for students who are learning, or need a refresher on, DCF analysis. Because of the basic issues covered, the case works well with undergraduate, MBA, and executive-education audiences. The case also affords the opportunity to explore a variety of issues related to capital-investment analysis, including relevant costs, incremental analysis, cost of capital, and sensitivity analysis. The case is an excellent example of the value of a firm as the value of assets in place plus the net present value of future growth opportunities.

In this chapter, we present an analysis of the literature on preservice teachers of Color juxtaposed with the experiences of Ashley, Marena, Brianna, Laryn, and Felicia that gives insight into the ways in which these women of Color describe their understandings of social justice and culturally relevant teaching and the importance it holds for their work as future teachers. Using both culturally relevant pedagogy and critical race theory, we describe critical incidents from their racialized experiences in their teacher education program, inclusive of how they perceived having a Black professor for a diversity course. Lastly, we conclude the chapter with suggestions they deem as beneficial to their development and growth as social justice educators for teacher education programs to consider.

This purpose of this investigation is to compare the perceptions of competitive advantage through cost leadership and differentiation with sustainable practices of wineries from the USA, Italy and Spain.

Data are collected via self-report web-based surveys in California, Tuscany and Catalonia in 2010-2011 during a severe economic downturn in the wine industry.

Of the 260 respondents among the three country samples, over 75 per cent are family-owned and family-managed. Respondents indicate who has implemented a clear business case for an Environmental Management System (EMS) and who has not. Benefits and challenges of implementing sustainability practices are also addressed.

A comparable percentage of respondents across the three countries indicated a “clear business case for EMS”. Wineries in all three countries perceive that they have competitive advantage through implementation of EMS and commitment to sustainable practices. Top perceived benefits for respondents from the USA and Italy are focused on cost reduction strategies, while top perceived benefits for Spanish respondents are focused on differentiation strategies.

Activities that create competitive advantages for wine businesses in different countries are understudied; this research bridges that gap.

“Spice” products are synthetic cannabimimetics (SC; also called “synthetic cannabinoids”)-based designer drugs used as a legal alternative to cannabis for their very strong tetrahydrocannabinol (THC)-like effects. The purpose of this paper is to provide an analysis of more recent clinical and pharmacology/toxicology findings relating to SC and describe how they could impact on health, with a particular focus on mental health.

A systematic search and descriptive analysis of the available evidence on psychopathological issues related to misuse was performed here, whilst taking into account the Pubmed/Medline databases, a range of conference proceedings and national/international agencies’ reports.

While THC is a partial agonist, SC are full agonists on the cannabinoid receptors (CB-rs) and the administration of multiple SC can produce additive and/or synergistic agonistic interaction effects on the endocannabinoid system. These levels of strong CB-rs’ activation may be high enough to produce severe physiological and psychological disturbances. The available evidence suggests an existing relationship between SC use and psychosis (“Spiceophrenia”). The acute SC intoxication is usually characterized by tachycardia/hypertension; visual/auditory hallucinations; mydriasis; agitation/anxiety; tachypnoea; nausea/vomiting; and seizures.

The absence of clinical trials and longitudinal studies, together with the heterogeneity of SC compounds does not facilitate a precise assessment of the health risks related to their use, with long-term effects being of particular concern.

Appropriate, non-judgemental, prevention campaigns with a special focus on the differences between SC and cannabis may need to be organized on a large scale. At the same time, clinicians need to be regularly updated about novel psychoactive substances, including SC, to promptly recognize signs/symptoms of intoxication.

In February 2018, Jerome Powell had taken over as chair of the FOMC. At first glance, the macroeconomic conditions inherited by Powell appeared favorable for continued stability: unemployment and inflation were low, and the economy had been steadily growing for nearly a decade. Yet despite the appearance of stability, the economy faced significant risks that required the Federal Reserve's attention. Was an uptick in inflation imminent, and if so, should Powell raise rates to limit any inflationary pressure? Or was the economy still operating below capacity, and if so, should the Federal Reserve take a more accommodative stance? To gain perspective, Powell needed to look back at the past fifty years of monetary policy in the United States.