Cristina Barrial Berbén, Alina Dambrosio Clementelli, Ana Santamarina
This article examines the rise of domestic and care work platforms in Southern European cities, focusing on Madrid and Milan as relational contexts where platform capitalism intersects with enduring crises of social reproduction, migration regimes, and gendered labor precarity. Drawing on Social Reproduction Theory and an intersectional analytical lens, the study unpacks how digital platforms mediate the commodification, fragmentation, and spatial reorganization of reproductive labor. Empirically, it combines multi-sited ethnography, semi-structured interviews with migrant women workers, and digital platform analysis to trace how platformization exploits and reconfigures pre-existing informal care economies historically sustained by racialized migrant labor.The findings reveal that platforms, while promising formalization and professionalization, often deepen precarity by leveraging border regimes, creating stratified access to work, and externalizing risks onto workers. These dynamics multiply gendered spaces of vulnerability, exposing women to new forms of violence across fragmented urban and digital geographies. Simultaneously, the paper foregrounds diverse forms of migrant women's agency, including informal strategies of mutual aid, knowledge-sharing through digital networks, and collective organizing embedded in longstanding grassroots movements.By situating the platformization of domestic labor within broader transformations of urban life and welfare retrenchment, the article advances critical debates on the feminization of platform labor and the infrastructures of social reproduction. It argues that these platforms are not only technological intermediaries but infrastructural actors reshaping the conditions of life and work. The study underscores the importance of recognizing and supporting migrant workers' everyday practices of resistance as crucial sites of political possibility amid deepening neoliberal restructuring.
This paper explores cross-border cooperation (CBC) through the lens of Practice Theory, focusing on the case study of Gorizia-Nova Gorica on the Italian-Slovenian border. The central question is: what makes cross-border regional spaces emerge and hang together? The study argues that traditional economic evaluations overlook the complex socio-cultural interactions that are crucial for genuine integration. By emphasizing ‘communities of practice’, the research highlights how shared practices and collective identities shape cross-border regions. The originality of this research lies in adopting a humanistic practice approach, providing a comprehensive under- standing of the interplay between socio-cultural and economic factors in EU integration efforts, especially under contemporary socio- political crises. The main findings indicate that the formation and maintenance of these regions are deeply influenced by everyday practices and the collaborative efforts of local communities, suggest- ing pathways for enhancing integration through cultural and social engagement alongside economic strategies.
This study examines the trickster archetype within the narrative of Zāl and Simorgh in Ferdowsi’s Shahnameh. The trickster, a mythological figure characterized by ambivalence, shape-shifting, resourcefulness, and divine intervention, occupies a significant role across various cultural traditions. Drawing upon established theoretical frameworks, this research identifies Zāl and Simorgh as a trickster within Iranian mythology. The analysis focuses on key trickster attributes—including shapeshifting, wisdom, and the capacity to disrupt and reconstitute social order. Zāl, marked by his extraordinary birth and upbringing by Simorgh, embodies a liminal identity that facilitates intervention in pivotal events. Simorgh, in turn, functions as a supernatural guide and healer, contributing to the restoration of equilibrium and the revelation of hidden truths. A close reading of the Rostam and Esfandiar episode demonstrates how Zāl and Simorgh employ cunning and esoteric knowledge to challenge oppressive power structures and institute a renewed order. This study underscores the significance of the trickster archetype in Iranian mythic traditions and elucidates the roles of Zāl and Simorgh as agents of transformation and balance within the Persian cultural discourse. Keywords: Trickster, Zāl, Simorgh, Shahnameh, Mythology. IntroductionThe trickster archetype represents one of the most significant and beloved figures in world mythology, characterized by paradoxical qualities where positive attributes typically outweigh negative ones, though this balance varies across different mythological traditions. As liminal beings existing between worlds, tricksters challenge established laws, confront deities, and disrupt social and cultural norms. While often depicted as deceiving ordinary people, tricksters more importantly challenge those in positions of power, undermining the dominion of kings, heroes, and the powerful through cunning and artifice.This study examines the trickster archetype within the narrative framework of Zāl and Simorgh in Ferdowsi’s Shahnameh, positioning these figures within the broader context of Iranian mythology. The research addresses a significant gap in Iranian mythological studies, as the trickster concept, despite its prominence in global mythology, has remained largely unexplored in Persian literary scholarship. By applying established theoretical frameworks from folklore, psychoanalysis, mythology, and anthropology, this investigation seeks to illuminate the transformative roles of Zāl and Simorgh as agents of change and balance within Persian cultural discourse. Materials and MethodsThe methodological approach employs a comprehensive theoretical framework drawing primarily from the foundational works of Paul Radin and Carl Gustav Jung on the trickster archetype. Radin’s conception of the trickster as a “culture-bringer” who facilitates societal transformation from lower to higher levels of civilization provides a crucial analytical lens. Jung’s psychological interpretation, viewing the trickster as a representation of the collective unconscious and undifferentiated human consciousness retaining its animal nature, offers complementary insights into the archetype’s enduring significance.The analysis incorporates perspectives from various scholars, including Claude Lévi-Strauss’s structural approach to mythological dualities, Joseph Campbell’s hero archetype theory, and Mary Douglas’s anthropological insights on social order disruption. The study employs close textual reading of Shahnameh, focusing particularly on key episodes including Zāl’s birth and upbringing by Simorgh, and the pivotal Rostam and Esfandiar confrontation. Comparative analysis with trickster figures from other cultural traditions—including Loki from Norse mythology, Anansi from West African folklore, Coyote from Native American traditions, and Prometheus from Greek mythology—provides cross-cultural context for understanding the unique characteristics of the Iranian trickster manifestation. Research FindingsThe investigation reveals that Zāl and Simorgh collectively embody the essential characteristics of the trickster archetype within Iranian mythology. Key findings of the study include:Extraordinary Birth and Liminal Identity: Zāl’s albinism marks him as fundamentally different from birth, leading to his abandonment and subsequent raising by Simorgh. This unusual upbringing creates a liminal identity existing between human society and the supernatural realm, a defining characteristic of trickster figures.Shape-shifting and Duality: The relationship between Zāl and Simorgh demonstrates the trickster’s capacity for transformation and dual existence. Simorgh functions as both a physical being and Zāl’s spiritual essence, while Zāl himself bridges the animal, human, and divine realms.Wisdom and Problem-solving: Zāl’s renowned wisdom, acquired through Simorgh’s tutelage and his own dedicated study, enables him to serve as advisor and mediator in critical situations. His knowledge encompasses both earthly learning and supernatural wisdom, positioning him as a crucial problem-solver in times of crisis.Shamanic Attributes: Zāl exhibits shamanic characteristics through his ability to summon Simorgh via the ritual burning of the sacred feather, accessing supernatural assistance when confronting seemingly insurmountable challenges. This shamanic connection enables intervention in the natural order when necessary.Divine Intervention and Social Transformation: In the Rostam-Esfandiar episode, Zāl and Simorgh’s intervention challenges corrupt power structures represented by Goshtasp and Esfandiar’s ambitions, ultimately facilitating a restoration of proper governance and social order. Discussion of Results and ConclusionsThe findings demonstrate that Zāl and Simorgh function as a unified trickster entity, challenging oppressive power structures while maintaining cosmic and social balance. Unlike tricksters in other traditions who often act from self-interest, the Zāl-Simorgh complex operates primarily for societal benefit, distinguishing the Iranian trickster tradition. The Rostam-Esfandiar confrontation exemplifies the trickster’s role in exposing corruption and facilitating necessary social transformation. Esfandiar’s invulnerability, granted through Zoroastrian blessing, represents a sacred power corrupted by personal ambition. Zāl and Simorgh’s intervention—revealing the secret of targeting Esfandiar’s eyes with a double-headed arrow from the gaz tree—demonstrates the trickster’s function in challenging even sacred authority when it threatens social harmony. This episode reflects broader tensions between two political paradigms: the pre-Lohrasp tradition of balanced power between royal and heroic houses, and the Lohrasp-Goshtasp model concentrating all authority in the monarchy. The trickster’s intervention supports the restoration of balanced governance, suggesting Ferdowsi’s critique of absolute monarchical power. The comparative analysis reveals both universal and culturally specific aspects of the Iranian trickster. While sharing common features with global trickster figures—liminality, shape-shifting, wisdom, and social disruption—Zāl and Simorgh demonstrate unique characteristics rooted in Persian cultural values, particularly the emphasis on wisdom (kherad) and justice (dād).This study establishes Zāl and Simorgh as a distinctive trickster manifestation within Iranian mythology, contributing significantly to the theoretical understanding of the trickster archetype. The trickster archetype plays a vital but previously unrecognized role in Iranian mythological traditions, with Zāl and Simorgh embodying this function through their combined attributes and interventions. The Iranian trickster tradition emphasizes wisdom, justice, and societal benefit over the self-interested cunning often associated with tricksters in other cultures, reflecting core Persian cultural values. The Zāl-Simorgh complex serves as a mechanism for critiquing and transforming unjust power structures, particularly relevant to Ferdowsi’s historical context and his concerns about tyrannical rule. Recognition of the trickster pattern in Shahnameh opens new avenues for comparative mythological studies and a deeper understanding of Persian literary traditions. The study’s findings have implications beyond literary analysis, offering insights into mechanisms of cultural resistance, identity formation, and social transformation relevant to contemporary Iranian society. This research advances scholarship in Iranian mythology, comparative literature, and archetypal studies while demonstrating the continued relevance of ancient mythological patterns for understanding cultural dynamics and social change. Future research might explore trickster manifestations in other Persian literary works and examine the archetype’s evolution in modern Iranian literature and culture.
Language and Literature, Indo-Iranian languages and literature
Abstract It is often thought that an external threat increases the internal cohesion of a nation, and thus decreases polarization. We examine this proposition by analyzing NATO discussion dynamics on Finnish social media following the Russian invasion of Ukraine in February 2022. In Finland, public opinion on joining the North Atlantic Treaty Organization (NATO) had long been polarized along the left-right partisan axis, but the invasion led to a rapid convergence of opinion toward joining NATO. We investigate whether and how this depolarization took place among polarized actors on Finnish Twitter. By analyzing retweet patterns, we find three separate user groups before the invasion: a pro-NATO, a left-wing anti-NATO, and a conspiracy-charged anti-NATO group. After the invasion, the left-wing anti-NATO group members broke out of their retweeting bubble and connected with the pro-NATO group despite their difference in partisanship, while the conspiracy-charged anti-NATO group mostly remained a separate cluster. Our content analysis reveals that the left-wing anti-NATO group and the pro-NATO group were bridged by a shared condemnation of Russia’s actions and shared democratic norms, while the other anti-NATO group, mainly built around conspiracy theories and disinformation, consistently demonstrated a clear anti-NATO attitude. We show that an external threat can bridge partisan divides in issues linked to the threat, but bubbles upheld by conspiracy theories and disinformation may persist even under dramatic external threats.
Computer applications to medicine. Medical informatics
This article examines the Marxist concept of the national question and the analysis of Ethiopian reality during the Derg government (1974–1991). As the title indicates, this study explained the interplay between the Marxist concepts of national questions in general and analyzed how the nationalities questions in Ethiopia were treated under the Derg government (1974–1991) specifically. Since very recently, several studies have been done on nationalities questions particularly focusing on post-1991 ethnic-based federalism in Ethiopia. However, no attention is given to nationality issues in Ethiopia under the Marxist regime(Derg). To fill this gap, the researchers collected both primary and secondary sources. The collected data were then arranged, presented, and thoroughly examined. Ultimately, a qualitative research approach and a descriptive research design were used to interpret the data. Finally, the finding of this study concludes that the Derg regime failed to answer the nationalities question in Ethiopia based on Marxist-Leninist views. Therefore, although the Derg initially promised to answer the nationality question in Ethiopia, its promises did not go beyond words.
The purpose of this research was to identify the factors affecting financing of small and medium-sized enterprises in the Tehran Stock Exchange (TSE). The method of this study was to use the multiple regression model and panel data to test the hypotheses. The statistical population included 63 small and medium-sized companies admitted to the TSE, which were tested for the period of 2006 to 2021. The contribution was the use of market cap as a criterion for determining small and medium-sized companies. According to the findings, company size has a significant effect on internal financing. In addition, company size had a significant relationship with external financing through debt and share issuance. Also, there was a significant relationship between intangible assets and internal financing, while the ages of the small and medium sized enterprises did not have a significant relationship with external financing. It is suggested that small and medium-sized enterprises pay more attention to the significant variables for financing.
Keywords: Financing, Debt, Equity, Intangible Assets, Small and Medium-Sized Enterprises.
Introduction
The primary focus of this study was to investigate the financing of the capital structure of Small and Medium-sized Enterprises (SMEs) in Iran. SMEs play a crucial role in the economies of both developed and developing countries. According to the theory posed by Schumacher, a renowned German economist, as presented in the book "Small is Beautiful", creating job opportunities in rural areas and small towns can be achieved by making modest investments to generate employment, utilizing relatively simple production methods and leveraging local resources to establish small industries. SMEs serve as the backbone of the developing world's economy (Memarnejad, 2019).
In today's world, financing has become a significant concern for countries, whether they are developing or developed. A well-designed capital structure possesses the potential and capacity to adapt to changes in the surrounding environment and, in turn, influences its surroundings by generating appropriate returns.
SMEs play a crucial role in poverty alleviation, wealth creation, and fostering greater participation of marginalized sections of society, such as youth and women, in the economic development of nations. The growth of these enterprises strengthens the democratic ethos and civil society, while also encouraging entrepreneurs to actively engage in the economic, political, and social fabric of their countries. In fact, in most nations, the majority of employment opportunities are generated by SMEs. For instance, in the 30 high-income countries belonging to the Organization for Economic Cooperation and Development, two-thirds of the total workforce can be attributed to SMEs (Memarnejad, 2019).
This study aimed to highlight the significance and role of SMEs in Iran's economy. However, certain selection criteria were applied, such as: a) selecting companies with fiscal years ending in March and no changes in their fiscal year, b) encountering incomplete data for some companies, and c) excluding banks, financial institutions, and financial investment companies due to their distinct nature of operations. Consequently, the number of companies studied was reduced to 63. Therefore, caution should be exercised when generalizing the findings of this study to other entities within the industry under consideration.
Moreover, it is important to note that financing is influenced by various macroeconomic factors, including the inflation rate, gross domestic product, interest rates on facilities, and exchange rates. However, these factors were not incorporated into this study, and consequently, might impact the results.
Various factors, such as asset structure, age, profitability, growth, and industry, have been identified as key determinants that can significantly influence the capital structure (Hall, 2002). Indeed, a wide range of variables have been found to impact the choice of an appropriate capital structure (Chen, 2004; Çekrezi, 2013). Additionally, this study examined factors that could potentially affect both the capital structure and profitability of companies. Recognizing that the capital structure can impact the overall value of a company, it is crucial to investigate the factors that effectively and predictably influence it. Numerous authors have conducted studies in this area, leading to the development of theories, such as the static equilibrium theory, the pecking order theory, and the agency theory.
The static equilibrium theory emphasizes the balance between the tax shield of interest rate and the costs associated with debt issuance. According to this theory, a company should strive to achieve an optimal level of debt that maximizes its profitability. When the value of the tax benefit exceeds the present value of the costs associated with debt issuance, the company is considered to be at an optimal equilibrium point. Therefore, a manager aiming to maximize shareholders' wealth should carefully select a level of debt for the company that ensures the resulting tax shield outweigh the current value of the costs associated with debt creation (Rasiah & Kim, 2011).
Another prominent theory of capital structure is the pecking order theory, initially proposed by Myers and Majluf. This theory suggests a preference for financing investment projects using internal funds, such as retained earnings (internal financing), rather than relying on external resources obtained through equity issuance and debt issuance. According to this theory, managers prioritize utilizing retained earnings for funding their projects. Once the accumulated earnings are depleted, they turn to debt issuance as a source of financial resources. Finally, when it becomes impractical to take on additional debt, they resort to share issuance to meet their financial needs (Rasiah & Kim, 2011).
On the other hand, the agency theory posits that the optimal capital structure is achieved by minimizing the costs arising from conflicts of interest between stakeholders (Jensen and William, 1976). In this context, agency costs play a significant role in funding decisions due to the potential conflicts that may arise between shareholders and debt holders.
The size of an enterprise has a profound impact on its capital structure (Rajan & Zingales, 1995; Titman & Wessels, 1988). Small firms, in particular, face unique challenges compared to larger businesses as they have often limited access to external sources of capital, such as debt. Consequently, they are compelled to make alternative financing decisions (Ang, 1991). This supports the notion that SMEs are more susceptible to financial difficulties and confront higher levels of uncertainty and risk compared to newer, smaller firms (Engel & Stiebale, 2013; Rosenbusch Brinckmann & Müller, 2013).
Based on the proposed conceptual framework, the following hypotheses were put forth:
Hypothesis 1: The size of small and medium-sized enterprises exhibits a significant relationship with internal financing.
Hypothesis 2: The size of small and medium-sized enterprises demonstrates a significant relationship with external financing in the form of debt.
Hypothesis 3: The size of small and medium-sized enterprises displays a significant relationship with external financing through equity issuance.
Intangible assets possess the potential to create valuable knowledge-based competitive advantages, thereby fostering future growth (Barney, 1991; Hitt et al., 2001). However, these assets are often challenging to transfer to other businesses, making it difficult to secure external funding sources (Brierley, 2001; Revest and Sapio, 2012). Firms with intangible assets face a greater problem of asymmetric information as these assets are difficult to value. This, in turn, reduces their opportunities to obtain external financing (Clarysse et al., 2003; Harris et al., 1991).
Based on the above, the following hypothesis was proposed:
Hypothesis 4: Intangible assets exhibit a significant relationship with internal financing in small and medium-sized enterprises.
The age of a company also plays a crucial role in determining its capital structure. Faulkender (2005) highlights an interesting point, suggesting that younger firms have less established track records and may not be as recognized by their more experienced competitors. Consequently, small and medium-sized enterprises often struggle to secure sufficient financial resources (Demirel & Parris, 2015). The pecking order theory further supports the notion that internal financing should be prioritized followed by debt financing (Myers & Majluf, 1984). Based on the aforementioned cases, the following hypotheses were proposed:
Hypothesis 5: The age of small and medium-sized enterprises exhibits a significant relationship with external financing through equity issuance.
Hypothesis 6: The age of small and medium-sized enterprises demonstrates a significant relationship with external financing in the form of debt.
Materials & Methods
The aim of this study was to examine the impact of size, age, and intangible asset variables on the dependent funding variable. Additionally, control variables, such as the operating cash, operating income ratio, current account ratio, fixed asset ratio, and working capital, were included. This study was conducted through a literature review, analyzing relevant literature and employing descriptive and inferential analyses of the data. The statistical population for this study consisted of small and medium-sized collected listed in the Tehran Stock Exchange (TSE). A sample of 63 companies was selected for the period of 2006-2021. The hypotheses were based on the models proposed by Neville & Lucy (2022) and Aghaei (2015). Regression analysis was employed to test the effect of factors on the models of internal financing, external financing, and ownership ratio. Three regression models were utilized and their definitions and methods of obtaining the variables were explained as follows:
INTRNLit=β0+β1INTANGPERCit+β2CURRENTRATIOit+β3FIXEDASSETit+β4SIZEit+β5OPERATINGCASHTOINCOMEit+β6WORKINGCAPITALit+eit Model (1)
Model 2 was employed to test the hypotheses regarding the factors influencing external financing (debt). In this model, the following variables were considered: INTRNL is internal financing represented as a percentage of the total capital. It is calculated by dividing the capital increase from reserves, cash inflows, and current receivables by the total capital. INTANGPER is intangible asset ratio determined by dividing the value of intangible assets by the total assets listed on the balance sheet. CURRENTRATIO is current ratio calculated by dividing current assets by current liabilities. FIXEDASSETRATIO is fixed asset ratio obtained by dividing fixed assets by total assets. SIZE is size of the enterprises measured by using the logarithm of the book value of assets. OPERATINGCASHBYINCOME is the relationship between operating cash and operating profit calculated by dividing operating cash by operating profit. WORKINGCAPITAL is net working capital calculated as the difference between current assets and liabilities. These variables were analyzed in Model 2 to assess their impacts on external financing (debt) and test the hypotheses.
DEBTit=β0+β1AGEit+β2CURRENTRATIOit+β3FIXEDASSETit+β4SIZEit+β5OPERATINGCASHTOINCOMEit+β6WORKINGCAPITALit+eit Model (2)
In the above model, DEBT represents the proportion of total debt to total assets, indicating the extent to which the company is financed through debt. AGE refers to the age of the enterprises calculated based on the logarithm of the number of years of activity. In addition to these variables, other control variables, such as the capital ratio, current ratio, operating cash ratio, and working capital were included.
Model 3 was developed to test and validate the assumptions regarding the factors influencing the ownership ratio. The aim of this model was to investigate the variables that contributed to determining the ownership structure of the sample enterprises.
EQUITYit=β0+β1AGEit+β2WORKINGCAPITALit+β3CURRENTRATIOit+β4FIXEDASSETit+β5SIZEit+β6OPERATINGCASHTOINCOMEit +eit Model (3)
EQUITY represents the shareholder ratio, which is calculated by dividing the total funding by the total capital. Selection of the dependent and independent variables was based on the study conducted by Neville and Lucy (2022).
Findings
The data used in this study were combined at the enterprise-year level and econometric diagnostic tests were conducted. Based on the evidence, Hypothesis 1, which posited a significant relationship between the size of SMEs and internal financing, was confirmed. Additionally, Hypothesis 4, which suggested a significant relationship between intangible assets and internal financing, was also supported. The results of Model 1 can be observed in Table 1.
Table 1: The results of estimating model 1
Variable
Coefficient
t statistic
Significance level
OPERATINGCASHTOREVENUE
-0.73
-2.00
0.04
SIZE
0.03
3.01
0.00
WORKINGCAPITAL
-4.18
-1.39
0.16
CURRENTRATIO
-0.04
-1.13
0.25
FIXEDASSETRATIO
-0.14
-0.94
0.34
INIBLETANGIBLEASSETRATIO
7.46
2.19
0.03
C
-0.76
-2.34
0.02
AR(1)
0.01
0.47
0.63
F statistic probability
0.00
4.27
Durbin Watson statistics
2.39
Coefficient of Determination
0.58
Adjusted coefficient of determination
0.44
According to the Table 1, the coefficient of the variable of working capital is found to be significant at the given significance level, indicating a direct relationship with external financing (debt). On the other hand, the variables, such as size, operating cash ratio, current ratio, and fixed asset ratio, exhibit a significant and inverse relationship with external financing.
Based on the evidence, Hypothesis 2, which suggested a significant relationship between the size of small and medium-sized enterprises and external financing (debt), was confirmed. However, Hypothesis 6, which proposed a significant relationship between the age of small and medium-sized enterprises and external financing (debt), was not supported. The results of Model 2 are presented in Table 2.
Table 2: The results of estimating Model 2
Variable
Coefficient
t statistic
Significance level
AGE
0.03
1.57
0.11
SIZE
-0.24
-15.09
0.00
OPERATINGCASHTOINCOME
-0.043
-2.40
0.01
CURRENTRATIO
-0.07
-11.68
0.00
FIXED ASSETRATIO
-0.14
-4.14
0.00
WORKINGCAPITAL
1.91
2.11
0.03
C
-51.90
-1.53
0.12
AR(1)
0.74
21.90
0.00
F statistic probability
0.00
69.31
Durbin Watson statistics
2.11
Coefficient of Determination
0.89
Adjusted coefficient of determination
0.87
Based on the Table 2, the variables of size, fixed asset ratio, current ratio, and operating cash ratio are found to be significantly and positively associated with the ownership ratio, while the working capital ratio exhibits a significant and negative relationship.
Based on the evidence, Hypothesis 3, which suggested a significant relationship between the size of small and medium-sized enterprises and external financing (proprietary rights), was confirmed. However, Hypothesis 5, which proposed a significant relationship between the age of SMEs and external financing (proprietary rights), was not supported. The results of Model 3 are presented in Table 3.
Table 3: The results of Hypothesis Test Model 3
Variable
Coefficient
t statistic
Significance level
AGE
-0.02
-0.24
0.80
SIZE
0.21
15.41
0.00
WORKING CAPITAL
-2.00
-3.14
0.00
FIXED ASSET RATIO
0.15
4.45
0.00
CURRENT RATIO
0.07
12.42
0.00
OPERATING CASH TO INCOME
0.03
1.97
0.04
C
29.80
0.24
0.81
AR(1)
0.71
22.70
0.00
F statistic probability
0.00
0.01
Durbin Watson statistics
2.01
Coefficient of Determination
0.87
Adjusted coefficient of determination
0.85
Discussion & Conclusions
The findings of this study supported the 1st and 3rd hypotheses, which suggested a positive and significant relationship between company size and the dependent variables of internal financing and ownership ratio, respectively. Conversely, company size exhibited a negative and significant relationship with debt, in line with the second hypothesis. Additionally, the results indicated a significant positive relationship between intangible assets and internal financing, aligning with the 4th hypothesis. These findings suggested that small and medium-sized companies relied more on internal financing and utilize less debt, which aligned with the pecking order theory. This is consistent with the study conducted by O'Brien (2003). Furthermore, the study did not find a significant relationship between the age of SMEs and internal and external financing (capital structure), contradicting the 5th hypothesis. In conclusion, the results of this study highlighted the importance of company size and intangible assets in determining the financing choices of SMEs. These findings contributed to our understanding of the capital structure decisions made by SMEs. Regarding the relationship between the size of small and medium-sized enterprises and their internal and external financing, the findings align with the studies conducted by Neville and Lucy (2022), Sunaina (2020), and Aghaei et al. (2014). However, the results differ from those of Ozkan (2001), which can be attributed to variations in the economic structure, such as inflation rate and exchange rate, of the countries. Furthermore, the results support the findings of Neville and Lucy (2022) and O'Brien (2003), regarding the relationship between intangible assets, such as ideas, intellectual property, brands, business methods, and internal financing. It was confirmed that companies with a higher proportion of intangible assets faced more challenges and barriers when seeking external financing, which is consistent with the hierarchical theory.
Regarding the relationship between the age of small companies and external financing, specifically through debt and ownership rights, the findings of this study are consistent with the studies conducted by Gregory (2005), Neville and Lucy (2022), and Wasiuzzaman and Nurdin (2019). However, the results differ from the study conducted by Faulkner et al. (2006), which focused on credit limits and the distinction between the public debt market (bonds) and the private debt market (banks). In their study conducted in England, they found a negative relationship between debt and age of company. The disparity in findings could be attributed to the different economic structures of the countries. This variation highlighted the importance of considering the specific context and economic conditions when analyzing the relationship between company age and external financing.
The Vietnam War was a splitting conflict that caused significant social, political, and cultural upheaval in American society. Tim O’Brien’s work explores the personal experiences of soldiers who fought in the war, their inner lives, and the complexities of telling true stories about the war. This paper discusses O’Brien’s “How to Tell a True War Story” as a representation of a unique literary work set in the context of the Vietnam War. The paper argues that O’Brien’s narrative style departs from traditional metanarrative styles by emphasizing individual traumas and inner experiences, which transcends the question of factual accuracy. The paper utilizes Jean-Francois Lyotard’s theory of metanarratives in the postmodern era to explore how O’Brien’s narrative style subverts traditional narrative structures, creating an emphasis on individual emotions and experiences. The paper argues that O’Brien’s narrative style, which includes fragmentary narration, personification of items, and conscious expressions from the narrator’s perspective, authentically elaborates the obscurity and disorder of people’s inner world during wars. This narrative style provides a meaningful way for people to empathize and connect with the text, especially during times of uncertainty and despair such as the COVID-19 pandemic. O’Brien disrupts metanarratives, making readers doubt their own viewpoints and beliefs, and deconstructs the textures of power and authority. While his work is significant in subverting authoritative storytelling, the loss of belief in overarching narratives may lead to social unrest, political upheaval, and economic instability. The combination of the metanarrative and the postmodern subversive narration might be a possible solution.
This text aims to defend Arendt against her devotees. The author argues that Arendt's sweeping reconceptualization of the nature and value of political action has been covered over and domesticated by admirers who had hoped to enlist her in their less radical philosophical/political projects. Against the prevailing "Aristotelian" interpretation of her work, Villa explores Arendt's modernity, and indeed her postmodernity, through the Heideggerian and Nietzschean theme of a break with tradition at the closure of metaphysics. The author makes a case for Arendt as the postmodern or post-metaphysical political theorist, the first political theorist to think through the nature of political action after Nietzsche'a exposition of the death of God. After giving an account of Arendt's theory of action and Heidegger's influence on it, the book shows how Arendt did justice to the Heideggerian and Nietzschean criticism of the metaphysical tradition while avoiding the political conclusions they drew from their critiques.
Mahi Puri, Elizabeth F. Pienaar, Krithi K. Karanth
et al.
Although protected areas (PAs) have long been considered a successful conservation strategy, more recent research has highlighted their ecological and sociological limitations. The extant PA network is constrained by land availability and exacerbates cultural, political, and social conflicts over access to resources. Consequently, the importance of private lands in playing a complementary role in conservation is being widely recognized. Voluntary conservation programs that encourage private landowners to adopt biodiversity-friendly agricultural practices have emerged worldwide. Landowners' willingness to participate in these programs is critical to attaining landscape-level biodiversity conservation. We adopted a multidisciplinary approach, combining economic theory of rational choice and social choice theory to explain decision making. Using a stated preference choice experiment method, we examined the role of program design and influence of demographic, economic, and socio-psychological variables on landowners' willingness to enroll in voluntary, incentive-based agroforestry programs. In 2018-2019, we surveyed 602 landowners in the buffer area of Pench Tiger Reserve, India. Landowners' willingness to engage in agroforestry depended on the amount of land to be enrolled, program duration, and incentive amount. Landowners' socio-economic characteristics, attitudes, self-efficacy, and social norms also influenced their willingness to participate. On average, landowners required Rs. 66,000 (ca. $940 USD) per acre per year to modify their land use and adopt agroforestry. Our study demonstrates that integrating voluntary agroforestry programs into India's rural development policy may allow biodiversity conservation to be balanced with agricultural productivity in buffer areas surrounding PAs. We call for a new approach that recognizes farmers as stakeholders in conservation and in creating resilient landscapes that support biodiversity and preserve livelihoods.
In their vulnerability to arbitrary, exploitative uses of human power, many of Earth’s nonhuman parts are subject to environmental domination. People too are subject to environmental domination in ways that include but also extend beyond the special environmental burdens borne by those who are poor and marginalized. Despite the substantial inequalities that exist among us as human beings, we are all captured and exploited by the eco-damaging collective practices that constitute modern life for everyone today. Understanding the complex, interacting dynamics of environmental domination can orient us to a more liberatory approach to our environmental problems and to one another, both human and nonhuman. To make good on this potential, however, we need to move beyond existing conceptions of domination. This essay reconstructs the concept of domination to illuminate the multiple ways that the human domination of nature interacts with the domination of people, and it identifies changes that could support more emancipatory forms of political order, a politics of non-domination for people and the Earth.
This essay reconstructs the place of utopia in realist political theory, by examining the ways in which the literary genre of critical utopias can productively unsettle ongoing discussions about “how to do political theory.” I start by analyzing two prominent accounts of the relationship between realism and utopia: “real utopia” (Erik Olin Wright et al.) and “dystopic liberalism” (Judith Shklar et al.). Elaborating on Raymond Geuss’s recent reflections, the essay then claims that an engagement with literature can shift the focus of these accounts. Utopian fiction, I maintain, is useful for comprehending what is (thus enhancing our understanding of the world) and for contemplating what might be (thus nurturing the hope for a better future). Ursula K. Le Guin’s novel The Dispossessed deploys this double function in an exemplary fashion: through her dynamic and open-ended portrayal of an Anarchist community, Le Guin succeeds in imagining a utopia that negates the status quo, without striving to construct a perfect society. The book’s radical, yet ambiguous, narrative hence reveals a strategy for locating utopia within realist political theory that moves beyond the positions dominating the current debate. Reading The Dispossessed ultimately demonstrates that realism without utopia is status quo–affirming, while utopia without realism is wishful thinking.
Challenging the popular perception that Confucianism provides mostly a moral defense of political hierarchy, this article demonstrates that Confucianism is more than compatible with democracy and fundamentally contradicts political hierarchy, be it autocracy or meritocracy. Drawing on Zhu Xi (1130–1200 CE), the spokesperson for the state orthodoxy in late imperial China and one of the towering figures in the Confucian tradition, I argue that to realize the Confucian self-cultivation program for all requires popular participation in politics beyond casting ballots. My argument builds on Zhu Xi’s moral egalitarianism that all human beings can pursue sagehood by self-cultivation and should be given the equal opportunity to do so. Since Zhu Xi’s self-cultivation program requires acquiring and perfecting political knowledge in political practice, to realize his moral egalitarianism requires political equality for all. As such, my participatory theory of Confucian democracy exhorts all people to engage in self-governance and daily administration of the state more proactively. Thus, it enriches the prevalent liberal theory of Confucian democracy that focuses on political representation but not on popular participation in politics.
This article argues for the recovery and re-incorporation of lost voices and debates into the history of political thought by focusing on the issue of sovereignty. It begins by examining why such a narrow understanding of the canon has come to dominate the sub-discipline and argues for critical approaches that treat the past as a “contested terrain” rather than an unfolding plot. It then turns to early twentieth-century Britain as an example of an era when thinkers who have been largely forgotten by today’s political theorists argued loudly about the future of state sovereignty. It next focuses on a 1916 exchange of essays entitled “The Nature of the State in View of Its External Relations” by Delisle Burns, Bertrand Russell, and G.D.H. Cole, as an example of some of the most innovative and radical ideas to emerge from the period. The article concludes by arguing that re-engaging the work of these forgotten thinkers can broaden our conceptual horizons about sovereignty, speak to some of the most urgent issues of our time, and force open the concept of “the political” to radical reinterpretation.