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The other big piece we see coming based upon what has been said in Biden administration is some type of new paid leave l...
18/07/2022

The other big piece we see coming based upon what has been said in Biden administration is some type of new paid leave laws. Biden was pretty vocal about that throughout the pandemic,” Holt said. “I would expect for Biden, especially if Democrats control both houses of Congress, to try and pass some type of codified paid leave at the federal level.

Many small businesses might not have heard much from the Occupational Safety and Hazard Administration (OSHA) last year,...
18/07/2022

Many small businesses might not have heard much from the Occupational Safety and Hazard Administration (OSHA) last year, but that is likely to change in 2021. Holt said small businesses should ensure they have the required safety protocols in place in preparation for increased monitoring.

Amid the pandemic, the call for paid family and medical leave has been greater than ever. Recently, with the passage of ...
17/07/2022

Amid the pandemic, the call for paid family and medical leave has been greater than ever. Recently, with the passage of the Families First Coronavirus Response Act (FFCRA), the federal government extended the Family Medical Leave Act (FMLA) and the unpaid leave it provides. However, that could soon become paid leave, Holt said, especially if Democrats take control of the Senate.

The federal minimum wage hasn’t been raised in more than a decade, and a sharp increase was part of the Biden campaign’s...
17/07/2022

The federal minimum wage hasn’t been raised in more than a decade, and a sharp increase was part of the Biden campaign’s platform.

“Right now, it’s $7.25, and [the] last time [it was] amended was 2009,” Holt said. “The Biden administration talked about [a] $15 minimum wage, which would be a substantial increase. Whether they go through with that level of increase remains to be seen, but I would expect some sort of raising of the minimum wage.”

The world of human resources could be in for some significant changes with the changing of the guard in the White House,...
17/07/2022

The world of human resources could be in for some significant changes with the changing of the guard in the White House, said Aaron Holt, a labor and employment attorney at Cozen O’Connor. This could result in policy changes impacting businesses of all sizes.

The use of artificial intelligence can be a powerful and accessible component in a marketer’s toolbox. One-to-one market...
15/07/2022

The use of artificial intelligence can be a powerful and accessible component in a marketer’s toolbox. One-to-one marketing has long been a talking point. Once upon a time, it felt like a far-flung fantasy. It has existed in some limited forms in recent years, but now—empowered by meaningfully workable AI—it is bound to become increasingly achievable throughout 2022. - Jeremy Fain, Cognitiv

Start building your first-party data strategy. For many organizations, this starts with evaluating how a customer data p...
15/07/2022

Start building your first-party data strategy. For many organizations, this starts with evaluating how a customer data platform fits within your infrastructure. It also includes evaluating your third-party data usage and how deprecation of third-party cookies, mobile device IDs and other data privacy regulations might affect them. - Greg Kihlstrom, GK5A

Our findings in this study have important implications for the outlook of the financial industry trend and corresponding...
14/07/2022

Our findings in this study have important implications for the outlook of the financial industry trend and corresponding policy making. First, financing channels like trade credits, business group lending, insider debt, and joint ownership of debt and equity, among others, will continue to expand as they offer improvements over conventional bank financing. Second, the size of the improvement is related to the extent of implicit benefits and repayment costs. They differ across industry structure, ownership pattern, legal system, financial market condition, culture, and so forth. Therefore, one style is unlikely to fit all, although the same generic mechanism drives them. This consideration is critical in policy making for developing regulations, planning the structure of the economy, or providing funding aids. Finally, the benefit of fintech lending depends on whether the application of technology effectively utilizes the advantage of implicit benefits or reduction of repayment costs, in addition to improving information efficiency. This insight is critical for developing regulation guidelines for the rising fintech industry.

We also use continuous parameters to subsume varieties associated with enforcement costs in repayment and nonpecuniary p...
14/07/2022

We also use continuous parameters to subsume varieties associated with enforcement costs in repayment and nonpecuniary penalty in addition to implicit benefit. These costs could be the threat of bankruptcy or the consequences associated with bank loan default, social sanctions, and enforcement difficulties. Including these dimensions allows us to understand how institutional or legal environments affect competition among financing channels. For example, repayment cost increases in countries with weak legal systems; lenders and borrowers who access political, social, or other networks to reduce this cost or increase implicit benefits dominate the market. This finding explains why power arrangements, namely kinship, state control, or legality, are critical for a country's financing and growth pattern.

In a recent working paper, we resolve the puzzle by developing a framework that allows competition dynamics among variou...
12/07/2022

In a recent working paper, we resolve the puzzle by developing a framework that allows competition dynamics among various financing channels in the same funding markets. The study reveals that standard bank financing is not necessarily optimal even when there are no information asymmetry or moral hazard problems. Alternative financing methods are preferred by a range of lenders in the market who have implicit benefits with lenders in transactions. These methods offer lower financing costs and lead to better project outcomes.

There is a widespread belief that alternative financing channels that rely on social or business connections are costlie...
12/07/2022

There is a widespread belief that alternative financing channels that rely on social or business connections are costlier or riskier and that they are used only when asymmetric information and adverse selection cause financing through banks and equity markets to be unavailable. This perspective contradicts several empirical observations: alternative financing remains strong in many economies with developed banks and markets; trade credits are employed more by large or monopoly firms than small firms; and firms that use alternative financing sometimes perform better than those accessing bank loans.

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