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With the rapid growth and wide application of digital technology, enterprises have entered the digital era with both opportunities and challenges existing. Mergers and acquisitions are one of the most efficient ways to integrate resources and achieve profit growth, giving enterprises advantages in competing in the new mode of economic growth. Based on this, this research tries to explore whether the development of digital finance will contribute to the emergence of M&As activities through combining M&As data of the Chinese stock market with the digital finance inclusion index between 2012 and 2020. The results show that the development of digital finance largely influences M&As activities through lower acquirers' financial constraints. We further replace digital finance with three sub-indexes including coverage breadth, usage depth, and digitalization level to explore the impact of different dimensions of digital finance on M&As. Results show that coverage breadth plays a more important role. In addition, heterogeneity tests reveal that the relationship between the development of digital finance and M&As activities varies significantly. The influences of digital finance on private and western and central enterprises are more significant compared with state-owned and eastern enterprises. According to the study, since the development of digital finance can be an efficient way to ease financial constraints and boost M&As activities, the government should promote the development of digital finance while companies strive to make the most use of it., Competing Interests: NO authors have competing interests, (Copyright: © 2023 Jiang et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)

Crop yields in sub-Saharan Africa need to increase to keep pace with food demands from the burgeoning population. Smallholder farmers play an important role in national food self-sufficiency, yet many live in poverty. Investing in inputs to increase yields is therefore often not viable for them. To investigate how to unlock this paradox, whole-farm experiments can reveal which incentives could increase farm production while also increasing household income. In this study we investigated the impact of providing farmers with a US$ 100 input voucher each season, for five seasons in a row, on maize yields and overall farm-level production in two contrasting locations in terms of population density, Vihiga and Busia, in western Kenya. We compared the value of farmers' produce with the poverty line and the living income threshold. Crop yields were mainly limited by cash constraints and not by technological constraints as maize yield immediately increased from 16% to 40-50% of the water-limited yield with the provision of the voucher. In Vihiga, at best, one-third of the participating households reached the poverty line. In Busia half of the households reached the poverty line and one-third obtained a living income. This difference between locations was caused by larger farm areas in Busia. Although one third of the households increased the area farmed, mostly by renting land, this was not enough for them to obtain a living income. Our results provide empirical evidence of how a current smallholder farming system could improve its productivity and value of produce upon the introduction of an input voucher. We conclude that increasing yields of the currently most common crops cannot provide a living income for all households and additional institutional changes, such as alternative employment, are required to provide smallholder farmers a way out of poverty., Competing Interests: The authors have declared that no competing interests exist., (Copyright: © 2023 Marinus et al. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.)

Background: Health economics research is an integral part of the transdisciplinary research supported by the National Cancer Institute (NCI). To better understand NCI activities in this area, we conducted a portfolio analysis of funded NCI grants including health economics research., Methods: We examined all competitive grants funded by NCI from fiscal years 2015 to 2020 that included economic analyses or outcomes. Grant titles, abstracts, and specific aims were independently reviewed by 2 study team members; content of included grants was then coded for analysis., Results: A total 212 grants were identified from searches; 146 of these included economic analyses and were included in the portfolio analysis. These 146 grants represent approximately 0.9% of all NCI competitively funded grants awarded 2015-2020. Of these grants, 100 were R01 awards, representing approximately 2.4% of all NCI R01 grants funded 2015-2020. The most common study type was interventional randomized controlled-trial, followed by simulation or model. Screening and prevention were the most frequent grant cancer continuum topic; survivorship was included in only 16 grants (11.0%). Cost-effectiveness analysis was the most frequently listed economic outcome (97 grants, 66.4%), whereas policy impact (20 grants, 13.7%) and financial hardship (15 grants, 10.3%) were less-frequently included economic outcomes. However, economic outcomes differed by cancer control continuum topic, with financial hardship being included in a greater proportion of treatment and survivorship grants., Conclusions: Although relatively small, the NCI portfolio of funded grants including economic analyses is diverse, covering a range of cancer types, methods, and economic outcomes, and increasing over time., (Published by Oxford University Press 2022. This work is written by (a) US Government employee(s) and is in the public domain in the US.)

Under the current universal trend towards larger grant sizes in research funding systems, we focus on how large of a grant size is appropriate. We study the directional returns to scale (RTS) to assess whether current grant sizes are the most productive. We take the General Program of the National Natural Science Foundation of China (NSFC) as an example and select three samples of physics, geography and management for an empirical study. We find that the optimal input direction and the most productive grant size scale is different for the three disciplines; based on the current grant size, physics should not expand the grant size and team size input, geography should further increase the grant size to improve performance and management should further expand the team size rather than the grant size. In this paper, we demonstrate a new method to calculate the optimal direction, which is the lowest rate of congestion, according to the characteristics of the General Program. Based on these results, we also calculate the most productive scale size. This method has certain value for project management., Competing Interests: The authors have declared that no competing interests exist.

Mastering the art of grant writing is one of the most essential skills to obtaining research funding. Given the importance of pursuing high-quality surgical research and supporting the academic goals of surgeon-scientists, ensuring that surgeons have the necessary skills to write effective and successful grants is of paramount importance. In this article, we present 10 strategies for composing a strong research grant application. These strategies apply to federal or nongovernmental funding agencies and are broadly relevant to basic, translational, and clinical investigators. We believe these recommendations can help surgeon-scientists be effective grant writers and compete successfully for research funding., (Copyright © 2021 Elsevier Inc. All rights reserved.)

This paper empirically studies the relationship among inclusive finance, industrial structure upgrading and farmers' income, using the panel data of 28 provinces in China from 2006 to 2016.The research finds that inclusive finance can significantly promote the increase of farmers' income. Moreover, the Upgrading of Industry Structure (UIS) is the intermediary mechanism of inclusive finance to promote the increase of farmers' income, and this intermediary mechanism is heterogeneous among farmers with different income levels. Finally, the promotion effect of the UIS on farmers' income is affected by the threshold effect of inclusive finance. Compared with the development level of low inclusive finance, the promotion effect of the UIS on farmers' income is stronger under the development level of high inclusive finance. According to the results of empirical analysis, we suggest that the development strategy of inclusive finance should aim at the industrial development in rural areas, promote the organic connection between farmers and modern agricultural industry, and drive farmers to increase their income through the transformation and upgrading of rural industries., Competing Interests: The author has declared that there are no competing interests.

Radical health reform movements of the 1960s inspired two widely adopted alternative health care models in the United States: free clinics and community health centers. These groundbreaking institutions attempted to realize bold ideals but faced financial, bureaucratic, and political obstacles. This article examines the history of Fair Haven Community Health Care (FHCHC) in New Haven, Connecticut, an organization that spanned both models and typified innovative aspects of each while resisting the forces that tempered many of its contemporaries' progressive practices. Motivated by a tradition of independence and struggling to address medical neglect in their neighborhood, FHCHC leaders chose not to affiliate with the local academic hospital, a decision that led many disaffected community members to embrace the clinic. The FHCHC also prioritized grant funding over fee-for-service revenue, thus retaining freedom to implement creative programs. Furthermore, the center functioned in an egalitarian manner, enthusiastically employing nurse practitioners and whole-staff meetings, and was largely able to avoid the conflicts that strained other community-controlled organizations. The FHCHC proved unusual among free clinics and health centers and demonstrated strategies similar institutions might employ to overcome common challenges. ( Am J Public Health. 2021;111(10): 1806-1814. https://doi.org/10.2105/AJPH.2021.306417).

Integrated behavioral health care (IBHC) improves patient outcomes, decreases cost, and increases patient satisfaction. It has become increasingly evident that IBHC must be incorporated into the US health care system. Although most health care providers agree that IBHC is beneficial, there is great debate regarding financial sustainability. Some studies have shown that incorporating BHCs into primary care clinics allows providers to see more patients, thus generating more revenue indirectly. In this article, the authors discuss funding and billing for IBHC. The authors truly believe that once properly implemented, IBHC will lower costs and improve patient care in the long run., (Copyright © 2021 Elsevier Inc. All rights reserved.)

Objectives: Systems epidemiology approaches may lead to a better understanding of the complex and dynamic multi-level constellation of contributors to cancer risk and outcomes and help target interventions. This grant portfolio analysis aimed to describe the National Institutes of Health (NIH) and the National Cancer Institute (NCI) investments in systems epidemiology and to identify gaps in the cancer systems epidemiology portfolio., Methods: The analysis examined grants funded (2013-2018) through seven NIH systems science Funding Opportunity Announcements (FOAs) as well as cancer-specific systems epidemiology grants funded by NCI during that same time. Study characteristics were extracted from the grant abstracts and specific aims and coded., Results: Of the 137 grants awarded under the NIH FOAs, 52 (38%) included systems epidemiology. Only five (4%) were focused on cancer systems epidemiology. The NCI-wide search (N = 453 grants) identified 35 grants (8%) that included cancer systems epidemiology in their specific aims. Most of these grants examined epidemiology and surveillance-based questions (60%); fewer addressed clinical care or clinical trials (37%). Fifty-four percent looked at multiple scales within the individual (e.g., cell, tissue, organ), 49% looked beyond the individual (e.g., individual, community, population), and few (9%) included both. Across all grants examined, the systems epidemiology grants primarily focused on discovery or prediction, rather than on impacts of intervention or policy., Conclusions: The most notable finding was that grants focused on cancer versus other diseases reflected a small percentage of the portfolio, highlighting the need to encourage more cancer systems epidemiology research. Opportunities include encouraging more multiscale research and continuing the support for broad examination of domains in these studies. Finally, the nascent discipline of systems epidemiology could benefit from the creation of standard terminology and definitions to guide future progress., Competing Interests: The authors have declared that no competing interests exist.

Background: The Global Fund to Fight AIDS, Tuberculosis and Malaria is a robust vertical global health programme. The extent to which vertical programmes financially support health security has not been investigated. We, therefore, endeavoured to quantify the extent to which the budgets of this vertical programme support health security. We believe this is a crucial area of work as the global community works to combine resources for COVID-19 response and future pandemic preparedness., Methods: We examined budgets for work in Kenya, Uganda, Vietnam, Democratic Republic of the Congo, Guatemala, Guinea, India, Indonesia, Nigeria, and Sierra Leone from January, 2014 to December, 2020. These ten countries were selected because of the robustness of investments and the availability of data. Using the International Health Regulations Joint External Evaluation (JEE) tool as a framework, we mapped budget line items to health security capacities. Two researchers independently reviewed each budget and mapped items to the JEE. Budgets were then jointly reviewed until a consensus was reached regarding if an item supported health security directly, indirectly, or not at all. The budgets for the study countries were inputted into a single Microsoft Excel spreadsheet and line items that mapped to JEE indicators were scaled up to their respective JEE capacity. Descriptive analyses were then done to determine the total amount of money budgeted for activities that support health security, how much was budgeted for each JEE capacity, and how much of the support was direct or indirect., Findings: The research team reviewed 37 budgets. Budgets totalled US$6 927 284 966, and $2 562 063 054 (37·0%) of this mapped to JEE capacities. $1 330 942 712 (19·2%) mapped directly to JEE capacities and $1 231 120 342 (17·8%) mapped indirectly to JEE capacities. Laboratory systems, antimicrobial resistance, and the deployment of medical countermeasures and personnel received the most overall budgetary support; laboratory systems, antimicrobial resistance, and workforce development received the greatest amount of direct budgetary support., Interpretation: Over one-third of the Global Fund's work also supports health security and the organisation has budgeted more than $2 500 000 000 for activities that support health security in ten countries since 2014. Although these funds were not budgeted specifically for health security purposes, recognising how vertical programmes can synergistically support other global health efforts has important implications for policy related to health systems strengthening., Funding: Resolve to Save Lives: An Initiative of Vital Strategies., (Copyright © 2021 The Author(s). Published by Elsevier Ltd. This is an Open Access article under the CC BY-NC-ND license. Published by Elsevier Ltd.. All rights reserved.)

In response to stagnant Federal grant funding levels and to catalyze early stage or high-risk research not currently supported by the NIH, many academic medical centers (AMCs) provide supplemental intramural funding to faculty investigators. However, it can be challenging to decide how to deploy these funds for maximum impact. We conducted a retrospective, descriptive analysis to explore trends in applications and awards associated with an institution-wide intramural funding center at a major U.S. AMC. From 2010 to 2017, the Brigham Research Institute at Brigham and Women's Hospital awarded a total of 354 grants totaling over $9 million to affiliated researchers through six distinct and complementary grant programs. The number of applicants remained essentially stable, despite expansion of the funding program portfolio. Distribution of applicants and awardees by academic rank and gender generally reflected that of medical school faculty at large. This descriptive analysis demonstrates interest in a diverse range of intramural funding programs among AMC faculty, and a lack of overt rank or gender bias in the programs' awardees. However, it highlights the institution's need to better understand the amount of residual unmet demand for intramural funding; the degree to which underrepresented constituencies can and should be actively supported; and the "return on investment" of these grants., Competing Interests: The authors have read the journal’s policy and have the following competing interests: FD is the Managing Director of Pharmagellan LLC, a biotechnology consulting firm, and earns most of his income by providing strategic advisory services to various companies in the biotech, pharmaceutical, and device industries. However, this income is unrelated to any work conducted specifically for this study. This does not alter our adherence to PLOS ONE policies on sharing data and materials. There are no patents, products in development or marketed products associated with this research to declare.

With sustained economic growth in many parts of the developing world, an increasing number of countries are transitioning away from the most subsidized development finance as they exceed income and other qualification requirements. Cross-country evidence suggests that Development Assistance Committee (DAC) donors view the crossing over of the World Bank's International Development Association (IDA) eligibility threshold to signal that a country needs less aid, with subsequent reductions in both IDA and other donors' concessional funding. Within the health sector, it is particularly important to understand the implications of these status changes for children under five years of age since improving early childhood health is critical to fostering health and social and economic development. Therefore, we examine the implications of the IDA transition by measuring the extent t which World Bank commitments-including both IDA and IBRD-are directed to infant and child health needs in Nigeria. Ordinary Least Squares (OLS) models were used in a difference-in-differences (DID) strategy to compare World Bank IBRD/IDA lending before and after the crossover to regions with varying initial levels of under-five and infant need. We find that the infant need orientation of World Bank aid has increased post-crossover. Conversely, alignment of World Bank commitments to regional child needs appears to have diminished after Nigeria crosses the IDA threshold. However, these effects are statistically insignificant and therefore provides inconclusive evidence. This research addresses an important policy question because the transition away from concessional funding mechanisms will result in difficult tradeoffs in allocating limited health resources; without providing conclusive evidence that crossover results in changes in need-based allocation, it does offer an essential path for future research. These results are directly relevant to policy debates about what we know and do not know about aid in transition and health. This research's value is especially important in the Sustainable Development Goal (SDG) era in understanding how donor exits could derail progress in health improvement., Competing Interests: The authors have declared that no competing interests exist.

This paper discusses the relationship between investigative credibility and the sources of funding associated with gambling research. Some researchers argue against accepting funding from gambling industry sources; similarly, they decline to participate in activities directly or indirectly sponsored by gambling industry sources. In contrast, these anti-industry investigators evidence less resistance toward accepting funds from sources other than industry, for example, governments, because they believe that they have greater independence, reliability, and validity, and less undue influence and/or interference. We organize this article, around six primary issues: (1) researchers making a priori judgments that restrict positions towards industry associated research; (2) the potential negative impacts of holding such a position; (3) a description of the different sources of funding available to support gambling-related research; (4) an examination of the extant empirical support associated with the sources of funding and whether such support evidences bias; (5) a description of six cases illustrating how refusing to participate in any project funded by the industry can adversely influence the advancement of science and, at times, be itself unethical; and finally, (6) we suggest some remedies to advance solutions to this problem by stimulating the participation of reluctant researchers to work towards a greater harmony, keeping in mind that the pivotal goal of our work is to increase our knowledge in different area of science and to harness it to public goods.

This article describes a secondary data analysis of a health data set representing the experiences of abortion fund service recipients (ASRs) who received financial assistance to help pay for unaffordable abortion costs. The authors analyzed 3,216 ASR cases from 2001 to 2015. Demographic characteristics, service utilization rates, and the personal hardships reported by the sample were assessed. The personal hardships of the Florida ASRs were compared with the hardships reported by ASRs who received assistance from a national fund. Results indicate that Florida ASRs are primarily people of color who are single, in their mid-20s, already parenting children, and receiving assistance in the second trimester of pregnancy. ASRs in this current study are experiencing multiple personal hardships while trying to access an abortion, including economic hardships (such as lack of insurance coverage and unemployment) and trauma (including rape and partner violence). When compared with the ASRs at the national level, these state-level ASRs reported higher rates of unemployment, partner violence, and rape, which suggests that the Florida ASRs face some more dire circumstances compared with ASRs at the national level. Repeal of policy that restricts public funding of abortion in Florida is recommended to improve access to abortion., (© 2020 National Association of Social Workers.)

Objectives: To simulate allocations of Public Health Emergency Preparedness funds to counties using alternative metrics of need, minimum allocation amounts, and the proportion earmarked for discretionary considerations., Design: We developed a county-level community resilience index of 57 New York State counties using publicly available indicators, which we incorporated into an interactive spreadsheet of 8 hypothetical allocation formulas with different combinations of population size, the index and its 5 domains, and population density. Simulations were compared with the 2013-2014 fiscal year grant allocation., Results: New York allocated $6.27 million to counties outside New York City, with a median allocation of $78 038, ranging from $50 825 to $556 789. These allocations would vary under different strategies, with the largest changes among sparsely populated counties that currently receive a minimum allocation of $50 825. Allocations were sensitive to changes in minimum allocation, amount earmarked for discretionary allocation, and need indicator., Conclusions: Population-based approaches are commonly used but ignore important dimensions of need. It is feasible to include robust local community resilience measures in formulas, and interactive spreadsheet models can help stakeholders evaluate the consequences of alternative funding strategies.

Without sufficient capital, the cost of engaging in sustainable clinical development of a drug or drug compound is exceedingly difficult. Fagnan, Fernandez, Lo, and Stein have proposed the securitization of a drug development "mega-fund" as a means of attracting capital from traditional long-term corporate bond investors to the clinical stage of drug development. Our contribution to this line of thinking is the modeling of the cash flows of such a biopharmaceutical mega-fund and their distributions over time to develop an innovative design of securities that control the timing risk of cash flows. This modeling offers a more efficient means of allocating the cash flows that the mega-fund consumes and generates, in an effort to lower the overall yields required to place the research-backed obligations. The new securities control the cash flow timing risk and the lower cost of funding ultimately means more funds are available to clinically test a treatment or cure. We obtain the cash flow profile of this new security, called 'the time-certain research-backed obligation', by isolating cash flows from two different time distribution of cash flow scenarios, so that investors will be assured of the time frame over which they will receive repayment of their investment. We have offered a security design that will lower the cost of funding the drug mega-fund. Success or failure of a drug is uncorrelated with the performance of the stock or bond markets, thus this asset class that is backed by a portfolio of drugs in the clinical stages of development should have little correlation with other asset markets, making them a valuable addition to diversified portfolios.

Genomic editing technologies are developing rapidly, promising significant developments for biomedicine, agriculture and other fields. In the present investigation, we analyzed and compared the process of innovation for six genomic technologies: viral vectors, RNAi, TALENs, meganucleases, ZFNs and CRISPR/Cas including the profile of the main research institutions and their funders, to understand how innovation evolved and what institutions influenced research trajectories. A Web of Science search of papers on viral vectors RNAi, CRISPR/Cas, TALENs, ZFNs and meganucleases was used to build a citation network of 16,746 papers. An analysis of network clustering combined with text mining was performed. For viral vectors, a long-term process of incremental innovation was identified, which was largely publicly funded in the United States and the European Union. The trajectory of RNAi research included clusters related to the study of RNAi as a biological phenomenon and its use in functional genomics, biomedicine and pest control. A British philanthropic organization and a US pharmaceutical company played a key role in the development of basic RNAi research and clinical application respectively, in addition to government and academic institutions. In the case of CRISPR/Cas research, basic science discoveries led to the technical improvements, and these two in turn provided the information required for the development of biomedical, agricultural, livestock and industrial applications. The trajectory of CRISPR/Cas research exhibits a geopolitical division of the investigation efforts between the US, as the main producer and funder of basic research and technical improvements, and Chinese research institutions increasingly leading applied research. Our results reflect a change in the model for financing science, with reduced public financing for basic science and applied research on publicly funded technological developments in the US, and the emergence of China as a scientific superpower, with implications for the development of applications of genomic technologies., Competing Interests: The authors have declared that no competing interests exist.

Background: Mental health and poverty are strongly interlinked. There is a gap in the literature on the effects of poverty alleviation programmes on mental health. We aim to fill this gap by studying the effect of an exogenous income shock generated by the Child Support Grant, South Africa's largest Unconditional Cash Transfer (UCT) programme, on mental health., Methods: We use biennial data on 10,925 individuals from the National Income Dynamics Study between 2008 and 2014. We exploit the programme's eligibility criteria to estimate instrumental variable Fixed Effects models., Results: We find that receiving the Child Support Grant improves adult mental health by 0.822 points (on a 0-30 scale), 4.1% of the sample mean., Conclusion: Our findings show that UCT programmes have strong mental health benefits for the poor adult population.

Purpose: To perform a comprehensive analysis of characteristics of ophthalmology trials registered in ClinicalTrials.gov., Design: Cross-sectional study., Methods: All 4,203 ophthalmologic clinical trials registered on ClinicalTrials.gov between October 1, 2007, and April 30, 2018, were identified by using medical subject headings (MeSH). Disease condition terms were verified by manual review. Trial characteristics were assessed through frequency calculations. Hazard ratios and 95% confidence intervals were determined for characteristics associated with early discontinuation., Results: The majority of trials were multiarmed (73.6%), single-site (69.4%), randomized (64.8%), and had <100 enrollees (66.3%). A total of 33% used a data-monitoring committee (DMC), and 50.6% incorporated blinding. Other groups (51.6%) were funded by industry, whereas 2.6% were funded by the US National Institutes of Health (NIH). NIH trials were significantly more likely to address oncologic (NIH = 15.5%, Other = 3%, Industry = 1.5%; P < 0.001) or pediatric disease (NIH = 20.9%, Other = 5.9%, Industry = 1.4%; P < 0.001). Industry-sponsored trials (69.6% of phase 3 trials) were significantly more likely to be randomized (Industry = 68.7%, NIH = 58.9%, Other = 60.8%; P < 0.001) and blinded (Industry = 57.2%, NIH = 42.7%, Other = 43.5%; P < 0.001). A total of 359 trials (8.5%) were discontinued early, and 530 trials (12.6%) had unknown status. Trials were less likely to be discontinued if funded by sources other than industry (hazard ratio [HR], 0.72; 95% confidence interval [CI], 0.55-0.95; P = 0.021) and/or had a DMC (HR, 0.71; 95% CI, 0.55-0.92; P = 0.010)., Conclusions: Ophthalmology trials in the past decade reveal heterogeneity across study funding sources. NIH trials were more likely to support historically underfunded subspecialties, whereas Industry trials were more likely to face early discontinuation. These trends emphasize the importance of carefully monitored and methodologically sound trials with deliberate funding allocation., (Published by Elsevier Inc.)

The special series is designed to provide examples of funded implementation research conducted by alumni of the first four cohorts of the Implementation Research Institute (IRI). The introduction links the six substantive papers to the conceptual and methodological challenges laid out in a 2009 publication in this journal which led to the IRI training program in the emerging science of implementation with a special focus on behavior health settings. The 7th paper in the series illustrates an innovative evaluative approach to design and measurement of IRI fellow publications and grants informed by the training program such as bibliometrics. The introduction also notes some elements identified in the 2009 foundational paper not represented in these papers such as costs as well as important developments and foci in the decade since 2009 such as de-implementation, sustainability, dynamic adaptation processes, and hybrid designs that need to be an integral part of training programs in implementation research.