Business Commons^™

Goodwill Message, Muhammad M. Bello

Economic and Financial Review

This is the keynote address delivered by the Honourable Minister of Federal Capital Territory during the Central Bank of Nigeria Executive Seminar, taking place in the city of Abuja. The theme of the seminar was “The Digitisation of Money and Monetary Policy in Nigeria."

The Evolution Of Money And The Changing Role Of Central Banks In The Digital Age, Uche Uwaleke

Economic and Financial Review

As a medium of exchange, money has evolved throughout the ages from barter system to fiat money issued by central banks. The digital age has ushered in new realities for central banks, transforming the nature of money and challenging monetary authorities to new roles required to implement their core mandate of maintaining monetary and price stability. The main purpose of this paper is to examine the changing roles of central banks occasioned by the challenges posed by digitalisation. Based on available literature surveyed, this changing role is principally evident in the recent move by most central banks to issue their …

Nigeria’S Budding Digital Economy: Coping With Disruptive Technology, Olugbenga Agboola

Economic and Financial Review

For a thriving and inclusive digital economy, African countries such as Nigeria need to build the critical foundations of the digital economy (World Bank Group, 2019). These foundations are interdependent and require public and private sector solutions.

Digitalisation And Financial System Stability: What Role For Macroprudential Policies?, Hassan Bello

Economic and Financial Review

The recent spate of financial digitalisation has been revolutionary, leading to significant changes in the structure of the financial system, its operational paradigm, users’ perception and experiences, and the regulatory landscape. These developments have been driven by explosive growth of technological advancements in fintech such as big data analytics, distributed ledger technology, and artificial intelligence, among others. Digitalisation of the financial system not only offers numerous benefits but also poses significant risks to the financial system, its stakeholders, and financial stability. This paper documents these issues and, in addition provides conceptual clarifications on financial digitalisation, and highlights relevant macroprudential policy …

Impact Of Technology On Financial Services, Usoro Usoro

Economic and Financial Review

This paper reviews seven emerging technologies that are shaping the future of financial services across the globe, their impact on financial services, and the implication for regulation. The seven technologies are: Mobile Connectivity; Artificial Intelligence; Decentralised Ledger; Open Source; Hyper Automation; Cloud Computing; and No Code Development Platforms.

Digital Currencies: Emerging Trends, Challenges And The Future Of The Monetary System, Remi Ogun

Economic and Financial Review

This paper discusses the relevance and significance of digital currencies within the context of the monetary system. The next section presents a global picture of the emerging trends followed by challenges from different jurisdictions. The final section discusses the future of the monetary system as shaped by digital currencies.

Digital Financial Services And Financial Inclusion In Nigeria: Milestones And New Directions, Chioma G. Nkechika

Economic and Financial Review

Digital Financial Services are ushering in an age of financial innovation and convenience with technology as the driver. It aims at solving several needs of the public, helping the governments tackle newer problems and identify the potentials of new technology that may be conceived in a competitive landscape. The aim of financial inclusion is to bring as many unserved and underserved Nigerians into the formal financial sector. Thus, digital financial services are revealing gaps in the market that will allow the Federal government intervene and cater to more members of the public than ever, using technology.

Pop & Perjury: The Irs Valuation War With The Estate Of Michael Jackson

The University of New Hampshire Law Review

When Michael Jackson died unexpectedly in Los Angeles, California, on June 25, 2009, his career and earnings were nearing an all-time low. Plagued by past sexual abuse allegations, scandals, and questionable health, Michael Jackson’s personal finances were purported to be in complete disarray. However, following his unexpected death, the value of his estate, which was reported to be near to nothing, swelled as the world remembered his beloved contributions to the world and began to purchase accordingly. Sales of Michael Jackson’s music began to soar high. The estate’s value soared even higher as it signed licensing agreements and released new …

Undead Dicta Or Haunted Holdings? A Closer Look At The Zombie Subjective Intent Partnership Formation Cases

The University of New Hampshire Law Review

Undead precedents haunt the partnership formation caselaw. But just how dangerous are they? It depends on what type of zombies they are—walking-dead dicta or haunted holdings. Asking a court to ignore bad dicta is nowhere near as difficult for litigants as asking a court to overrule an entire line of cases.

This article takes a closer look at the undead partnership formation cases that were previously identified in a companion article and concludes that nearly all such cases fall into the less-scary category of undead dicta, rather than truly dangerous category of zombie holdings.

Impact Of Exchange Rate On Trade Flow In Nigeria, Victor U. Ijirshar, Isa J. Okpe, Jerome T. Andohol

CBN Journal of Applied Statistics (JAS)

This study examines the impact of exchange rate on trade flow in Nigeria from 1986 to 2021. The study utilises linear and nonlinear autoregressive distributed lag (ARDL and NARDL) models to test the J-Curve hypothesis and the Marshall-Lerner condition in Nigeria. The study found symmetric effects of exchange rate on trade balance, exports, and imports. The findings also show that real exchange rate depreciation has a strong negative influence on trade balance and exports in the short run but positive in the long run, exhibiting the shape typology of the J-curve. Furthermore, the study reveals evidence of the Marshall-Lerner condition …

Effects Of Central Bank Independence And Financial Stability On Inflation In Selected African Countries, Adamu Yahaya, Mohammed T. Saidu, Abdulaziz Sadi

CBN Journal of Applied Statistics (JAS)

This study examines the relationship between central bank independence (CBI), financial stability, and inflation in 14 African countries within the period 1985-2019. Initial test revealed the presence of cross-sectional dependence (CD) among the countries. Thus, the Mean Group (MG), Common Correlated Effect Mean Group (CCEMG) and Augmented Mean Group (AMG) were employed for the analysis. The CCEMG and AMG results showed a significant and negative correlation between central bank independence and inflation. On the other hand, financial stability is only significant in the MG Model. Additional results obtained using the Garriga CBI index is consistent with our main results. The …

Ensuring An Inclusive Environment For Deaf And Hard Of Hearing Patients, Joseph Samona Dds, Michael Korleski Rdh, Bsdh, Stephen J. Stefanac Dds, Ms

The Journal of the Michigan Dental Association

This article emphasizes the need for an inclusive environment in dental practice for Deaf and hard of hearing (DHH) patients. It sheds light on the challenges faced by DHH patients during dental appointments, such as communication barriers due to mask-wearing and lack of sign language interpreters. The article highlights the importance of using proper terminology, understanding communication preferences, and providing accommodations to ensure effective communication with DHH patients. It also discusses legal requirements, including the Americans with Disabilities Act, to provide reasonable accommodations. Ensuring inclusivity in dental practice is essential to improving access to care and enhancing oral health outcomes …

10-Minute Ebd: Are Hearing Protective Devices Effective For Protecting Clinicians From Noise Exposure In Clinical Practice?, Julie Frantsve-Hawley Phd

The Journal of the Michigan Dental Association

This Ten-Minute Evidence-Based Dentistry Article provides an example of implementing the evidence-based dentistry search process with trusted search engines and identifying the best literature through critical appraisal to answer the clinical question: Are Hearing Protective Devices Effective for Protecting Clinicians from Noise Exposure in Clinical Practice? This article examines the effectiveness of hearing protective devices for safeguarding clinicians from noise exposure in dental practice. The clinical environment, exacerbated by COVID-19 aerosol-reducing devices, exposes oral health providers to elevated sound levels. While there's no conclusive evidence regarding the impact of handpieces on hearing, occupational noise exposure in dental settings can affect …

Dentistry And The Law: Employee Vs. Independent Contractor, Dan Schulte Jd

The Journal of the Michigan Dental Association

This month’s Dentistry and the Law column discusses hiring a dentist as an employee or an independent contractor. Employing a dentist as an independent contractor offers advantages such as avoiding compliance with various employment laws and not having to withhold taxes. However, there is uncertainty regarding whether tax and other authorities will recognize the independent contractor relationship. Factors like supervision and control play a significant role in this determination. To mitigate uncertainty, practices can contract with an entity owned by the dentist, providing a potential solution. Legal counsel is recommended for setting up such arrangements.

Headquarters Report: Mda Strategic Plan: In The Rear View Mirror And Around The Curve, Karen Burgess Cae

The Journal of the Michigan Dental Association

The Association Executive Director's year-end report discusses the accomplishments and challenges of the MDA's 2021-25 Strategic Plan. Member value remains high, as indicated by a Net Promoter Score of 43 and positive feedback on benefits like TDSC.com. However, younger practitioners are less engaged due to pandemic-related challenges. Member engagement saw a successful in-person Annual Session and increased online engagement. Organizational sustainability remains strong, but efforts are focused on maintaining membership participation. Diversity, equity, and inclusion initiatives, including a collaborative website, made significant progress. Advocacy efforts resulted in Medicaid reform and defeating restrictive bills. The report concludes by emphasizing the evolving …

J Mich Dent Assoc December 2022

The Journal of the Michigan Dental Association

Monthly, The Journal of the Michigan Dental Association brings news, information, and feature articles to our state's oral health community and the MDA's 6,200+ members. No publication reaches more Michigan dentists!

In this issue, the reader will find the following original content:

• A cover story on Ensuring an Inclusive Environment for Deaf and Hard of Hearing Patients.
• A clinical feature: Traumatic Ulcerative Granuloma Mimicking Squamous Cell Carcinoma in Lichen Planus.
• Feature information on the University of Michigan’s BioArtography Project.
• A recap on MDA volunteer leadership activity at the 2022 ADA House of Delegates.
• News you need, Editorial and regular department …

The Art In Science: The University Of Michigan’S Bioartography Project, Deborah L. Gumucio Phd

The Journal of the Michigan Dental Association

"The Art in Science: The University of Michigan’s BioArtography Project" emphasizes the importance of using art to convey scientific information to the public. Scientists and medical professionals often struggle to communicate their research effectively to non-experts. The BioArtography Project, initiated in 2005, combines art and science to bridge this communication gap. It features striking images of cells and tissues under microscopes, accompanied by lay-language descriptions of the research behind each image. The project aims to engage the public, stimulate curiosity, and convey information about scientific discoveries. BioArtography images have led to meaningful discussions with the public, dispelling myths and educating …

2022 Author/Title Index To The Journal Of The Michigan Dental Association, Jackie Hammond

The Journal of the Michigan Dental Association

The Journal of the Michigan Dental Association annually publishes an index of the year’s articles listed by title and author. This resource is intended to aid in content searches.

Executive Summaries

The Foundation Review

No abstract provided.

The Ford Foundation’S Work To Build The Field Of Impact Investing, Margot Brandenburg, Abeda Iqbal

The Foundation Review

Impact investing has grown dramatically over the past 15 years, with foundations playing a critical role through their program-related and, increasingly, mission-related investments. A smaller number, including the Ford Foundation, have dedicated grant and other programmatic resources toward growing the field. Without this funding, the metrics, engagement, policies, and norms needed to underpin capital markets at scale will be slow to materialize.

This article looks back at the long history of aligning financial investments with social values; touches on the Ford Foundation’s pioneering role in the emergence of PRIs as a tool to stretch grantmaking budgets; and details the impact …

A Promising Place-Based Collaborative Impact Investing Fund Strengthens Community And Informs Philanthropic Practice, Benjamin Kerman, Clara Miller

The Foundation Review

A recent evaluation of the Western New York Impact Investment Fund adds to the proof-of-concept literature regarding “doing good and doing well” while pointing to experience-based best practices in philanthropic impact investing. Born of a collaboration between regional and national philanthropies, the fund brings together corporate, individual, and philanthropic investors to deliver an inclusive impact investment mechanism. Founded in 2017, the fund evolved from concept to operating entity, focusing on mitigating capital gaps, longterm economic decline, and wealth divides.

Evaluation at Year 5 describes how the professionally managed, collaboratively governed fund has attracted and deployed capital, contributing to ecosystem improvements …

The Field-Building And Grantee Experimentation Role Of Foundations In Impact Investing As Illustrated By A Gender-Lens Investing Case Example, Courtney Bolinson, Laura Allan

The Foundation Review

This article argues for foundations to play two critical roles in the impact investing ecosystem: to commission and/or support research that helps build more equitable and socially just impact investing and to fund grantee-specific experimentation in areas of impact investing and social enterprise that are nascent or developing.

To illustrate what this can look like, this article presents action research conducted on gender-lens investing, describing in detail a 2019 Mastercard Foundation grant to Engineers Without Borders Canada. The project involved two main goals: testing and developing gender-lens investing tools and processes with seed-stage investees during pre- or post-investment phases and …

Using Foundation Capital For Good: Opportunities In The Balance Sheet, John Sherman, Veronica Olazabal

The Foundation Review

Foundations increasingly use their full balance sheets to unlock more of their capital for good. They look beyond conventional grantmaking to pursue their charitable purposes in many ways that exemplify innovative, full-balance sheet approaches: investing in nonprofit and for-profit companies that offer clear social and financial returns; investing their corpus in companies whose products and services align with their missions; using social bonds to inject new resources into their programs; offering guarantees to help grantees manage risk; and avoiding companies whose practices run counter to their grantees’ efforts.

This article looks at the structures, pathways, and tools for foundations wanting …

Defining Your Double Bottom Line: Philanthropy And The Investment Landscape, Stephane Ligonde, Garrett De Temple, Tuokpe Ajuyah

The Foundation Review

Grantmaking traditionally has been at the heart of philanthropy, whereas impact was the exclusive expectation of any desired result. While there is still a place for this kind of pure push for change, many investors today expect more, leveraging the power of the markets to invest in a way that is both impactful and able to maximize their financial rewards. This is particularly true of foundations with an eye toward supporting the perpetuity of their missions and organizations.

This approach also offers a range of innovative mission-based benefits, including extending the utility of philanthropic capital and generating more capital to …

Donor-Advised Funds And Impact Investing: A Practitioner’S View, Sam Marks

The Foundation Review

Any discussion of foundations embracing impact investing must include some discussion of one of the largest — and growing — sources of philanthropic capital: donor-advised funds. These philanthropic accounts allow donors of all sizes to access many of the functions of a private foundation, including the potential to invest for impact. Sponsors of these funds, however, face unique challenges in catalyzing impact investments.

Like the larger institutional foundations that have led the way as mission investors, sponsors must often educate and inspire governance boards and investment committees. Unlike foundations with professional program staff, decisions regarding philanthropic resources at sponsors of …

Back Matter

The Foundation Review

No abstract provided.

Leveraging Foundation Balance Sheets For Greater Impact: Piloting A Pooled Guarantee Program, Jane Reisman, Jim Baek, David Newsome, Christine Ryan

The Foundation Review

A guarantee instrument is a credit enhancement tool that can enable philanthropies to unlock millions or billions of dollars for societal impact. The Community Investment Guarantee Pool, created in 2019 by a collaboration of philanthropies and allied impact investors, or guarantors, is a novel initiative that uses guarantees to leverage the balance sheets of foundations and other institutional investors for enhancing the credit of intermediaries in the affordable housing, small-business, and climate markets. As the guarantees are unfunded, foundations continue to keep their endowment invested in the conventional market.

This article describes the Community Investment Guarantee Pool, details its theory …

Tfr 14.4 Full Issue

The Foundation Review

No abstract provided.

Front Matter

The Foundation Review

No abstract provided.

Editorial, Teresa R. Behrens

The Foundation Review

No abstract provided.