Cette recherche explore les difficultés rencontrées par les start-ups à impact pour attirer des financements. Ces entreprises doivent prouver leur viabilité économique tout en affirmant leur légitimité sociale et environnementale, une combinaison parfois complexe pour les investisseurs habitués à des critères purement financiers. L’étude, basée sur la théorie néo-institutionnelle, analyse comment les récits des entrepreneurs s’alignent aux attentes des différents investisseurs à impact. À partir d’un corpus de présentations écrites et d’entretiens semi-directifs, une analyse textuelle automatisée est menée pour identifier les facteurs influençant les décisions d’investissement. Les résultats soulignent l’importance de réduire l’asymétrie informationnelle entre investisseurs et entrepreneurs, notamment par des critères internationaux standardisés d’évaluation d’impact. L’objectif final est d’informer les politiques publiques pour mieux soutenir ces start-ups porteuses d’innovations systémiques, et d’encourager les investisseurs à intégrer les dimensions sociales et environnementales dans leurs processus de décision.

Cette étude se penche sur les firmes innovantes, notamment les start-ups et PME « Green-Cleantech / Vertes-Techpropre » , acteurs clés de nos économies industrielles, et leur financement complexe. Ces entreprises, essentielles pour la transition écologique, affrontent des défis liés à leur valeur économique incertaine et à leur opacité informationnelle, générant un risque de sélection adverse pour les investisseurs. Nous explorons le rôle des Business Angels (BA) dans ce contexte, particulièrement leur approche hybride de financement, combinant motivations altruistes et financières. L’analyse des comportements d’accompagnement des BA, entre soutien aux objectifs durables et attentes de retours financiers, est essentielle pour comprendre leur impact sur la trajectoire d’évolution des projets « Green-Cleantech » . L’étude aborde la dynamique de collaboration entre BA et entrepreneurs, soulignant l’importance de la complémentarité des théories de l’agence et de l’intendance pour une relation équilibrée. Notre recherche, basée sur une analyse de cas unique et longitudinale, révèle des pratiques de collaboration distinctes et les conditions favorisant l’évolution des relations BA-entrepreneur, enrichissant la littérature sur la gouvernance des startups et la finance entrepreneuriale verte.

In this paper, we analyse the UK’s levelling up program, particularly with a focus on the role and impact of financial investment into entrepreneurship and enterprise across the country. We employ a behavioural economics framework (focussing on social preference theory and extrinsic and intrinsic motives) together with stakeholder theory, and the literature on public-private partnerships. Our interest is in the motives and incentives of (institutional) investors to drive the levelling up agenda by investing into currently deprived areas: our analysis emphasises the North/South divide. We first develop a game theoretic model of levelling up of financial investment. This model emphasises the frictions affecting spatial financial investment, and provides policy implications. We then look at the existing evidence on the failure of levelling up in the UK. Next, we examine place-based impact investing (as championed by The Good Economy (TGE) Partnership, working in partnership with the Impact Investing Institute), as a possible solution. We conclude by comparing the UK’s levelling up agenda with France’s start-up nation program, to examine if there are any lessons to be learned from across the channel.

BACKGROUND:The decision of when it is safe to discontinue transmission-based precautions for SARS-CoV-2 coronavirus disease 2019 (COVID-19) hospitalized patients has been controversial. The Centers for Disease Control and Prevention offered reverse transcriptase polymerase chain reaction (PCR) diagnostic test- or symptom-based guidelines.METHODS:A retrospective chart review of Vidant Health system, Eastern North Carolina, was conducted. Length of stay, days in isolation unit, and date appropriate for discharge or isolation discontinuation based on the symptom-based strategy were recorded.RESULTS:Of 196 COVID hospitalized patients, 34 had repeated COVID PCR tests 3 or more days from their first positive test result. Half of these patients experienced delays in release from transmission-based precautions because of repeated positive PCR test results and use of the test-based approach. This resulted in an additional 166 days of hospitalization, costing an estimated $415,000. Furthermore, 2 subjects had a combined 16-day delay in necessary medical procedures. Most of the COVID PCR platforms yield quantitative results in the form of cycle threshold (Ct) values, the number of cycles needed to detect the genome. These values have also been used to assess whether patients are likely to remain contagious. None of our patients who met the criteria for symptom-based strategy for transmission-based precaution discontinuation had positive PCR test results with Ct values lower than 25, but 4 had Ct values lower than 30.CONCLUSIONS:Concerns surround immunocompromised patients and those treated with steroids who might be delayed or incapable of stopping viral replication and thus remain contagious. Our results suggest that clinicians use all available data including Ct values to evaluate the safety of discontinuation of transmission precautions.

To the Editor: We read with great interest Chen et al's1Chen Q. Shi X. Tang Y. et al.Association between rosacea and cardiometabolic disease: a systematic review and meta-analysis.J Am Acad Dermatol. 2020; 83: 1331-1340Abstract Full Text Full Text PDF PubMed Scopus (15) Google Scholar article titled “Association between rosacea and cardiometabolic disease: A systematic review and meta-analysis.” Chen et al1Chen Q. Shi X. Tang Y. et al.Association between rosacea and cardiometabolic disease: a systematic review and meta-analysis.J Am Acad Dermatol. 2020; 83: 1331-1340Abstract Full Text Full Text PDF PubMed Scopus (15) Google Scholar report that rosacea is associated with hypertension and dyslipidemia and suggest that health care providers could screen patients with rosacea for cardiometabolic indicators. However, it is unclear if such associations may translate to clinical practice. Patients who are living with undiagnosed hypertension may develop detrimental effects to their health, including heart failure, kidney disease, and coronary artery disease.2Buhnerkempe M.G. Prakash V. Botchway A. et al.Adverse health outcomes associated with refractory and treatment-resistant hypertension in the chronic renal insufficiency cohort.Hypertension. 2021; 77: 72-81Crossref PubMed Scopus (2) Google Scholar Preventing such complications may be achieved with early screening. Therefore, the United States Preventative Services Task Force (USPSTF) recommends annually screening for hypertension in all patients ≥18 years of age. Although patients with rosacea are more likely to present with concomitant hypertension, such patients are already annually screened by their primary care provider for hypertension according to the USPSTF guidelines. In addition, because rosacea affects individuals 20 to 50 years of age, the USPSTF guidelines already recommend screening for hypertension well before a patient may develop rosacea.3Siu A.L. Screening for high blood pressure in adults: U.S. Preventive Services Task Force recommendation statement.Ann Intern Med. 2015; 163: 778-786Crossref PubMed Scopus (300) Google Scholar Dermatologists may not need to screen their patients with rosacea for hypertension, as such patients already receive earlier annual screening by their primary care provider according to the recommended guidelines. However, dermatologists can ensure that their patients are being regularly screened for hypertension by their primary care provider. Chen et al1Chen Q. Shi X. Tang Y. et al.Association between rosacea and cardiometabolic disease: a systematic review and meta-analysis.J Am Acad Dermatol. 2020; 83: 1331-1340Abstract Full Text Full Text PDF PubMed Scopus (15) Google Scholar reported an association between rosacea and dyslipidemia. The USPSTF guidelines recommend screening all males ≥35 years of age and women ≥45 years of age for dyslipidemia. The guidelines further recommend screening earlier, at 20 years of age, when patients are at risk of coronary heart disease because of having such risk factors as diabetes mellitus, hypertension, tobacco use, cardiovascular disease, or obesity.4Schonmann Y. Bleich O. Matalon A. Yeshua H. Validation of the 2016 USPSTF recommendations for primary cardiovascular prevention in a large contemporary cohort.Eur J Prev Cardiol. 2018; 25: 870-880Crossref PubMed Scopus (5) Google Scholar Compared with the aforementioned risks of coronary heart disease, there is insufficient evidence to suggest screening for dyslipidemia in patients with rosacea who are ≥20 years of age because we do not know if implementing such screening tests are cost effective or if they improve cardiovascular morbidity and mortality among patients with rosacea. As we continue to learn more about the cardiometabolic associations with dermatologic conditions, larger studies assessing the cost effectiveness and the morbidity and mortality benefits of controlling these cardiometabolic conditions associated with such dermatologic conditions could influence future guidelines in screening for hypertension, diabetes, heart disease, and lipid derangements among dermatologic patients. It is reasonable for dermatologists to be aware of the association among rosacea, hypertension, and dyslipidemia and to ensure that their patients are being followed by their primary care provider for routine screening of hypertension and dyslipidemia. None disclosed. Association between rosacea and cardiometabolic disease: A systematic review and meta-analysisJournal of the American Academy of DermatologyVol. 83Issue 5PreviewRosacea is recognized as a chronic inflammatory cutaneous disorder associated with multiple systemic illnesses. However, the association between rosacea and cardiometabolic disease (CMD) remains controversial. Full-Text PDF Open AccessReplyJournal of the American Academy of DermatologyVol. 85Issue 3PreviewTo the Editor: It is a great pleasure to clarify questions about whether the association between rosacea, hypertension, and dyslipidemia may translate to clinical practice. We appreciate the thoughtful comments by Drs Pona, Labbe, Afriyie, Jiwani, and Powell to our article and thank them for their contributions surrounding the hypertension and dyslipidemia screening guidelines. Full-Text PDF

This research focuses on the study of relationships between public and private equity investors in France. In this regard, we need to apprehend the formal or informal nature of interactions that can sometimes take place within traditional innovation networks (Djellal \& Gallouj, 2018). For this, our article mobilizes a public-private partnerships approach (PPPs) and the resource-based view theory. These perspectives emphasize the complementary role of disciplinary and incentive mechanisms as well as the exchange of specific resources as levers for value creation. Moreover, these orientations crossed with the perspective of a hybrid form of co-investment allow us to build a coherent and explanatory framework of the mixed syndication phenomenon. Our methodology is based on a qualitative approach with an interpretative aim, which includes twenty-seven semi-structured interviews. These data were subjected to a thematic content analysis using Nvivo software. The results suggest that the relationships between public and private Venture capitalists (VCs) of a formal or informal nature, more specifically in a syndication context, at a national or regional level, are representative of an ''economico-cognitive'' (Farrugia, 2014, page 6) approach to networking and innovation. Moreover, the phenomenon of mixed syndication reveals a context of hybridization of public and private actors that would allow the private VCs to benefit from the distribution of wealth when the company develops its innovation. We can also identify a process related to a quest for legitimacy on the part of the public actor characterized by its controlling role within the public-private partnership (Beuve and Saussier, 2019). Finally, our study has some limitations. One example is the measurement of the effects of relationships on ''visible'' or ''invisible'' innovation (Djellal \& Gallouj, 2018, page 90).

This study presents the effects of the syndication of venture capital investments, on start-ups innovation. For this purpose, we have built a database of 315 deals carried out in 96 companies over a ten-year period. This study attempts to characterize the importance of the role of resources and the competitive advantage they confer to companies. By using the level of research and development (R&D) expenditure and patent applications as a measure of innovation, we highlight several results. Using a dynamic panel approach, we observe that the use of syndication financing tends to optimize the effects on the innovation of start-ups.

Although majority of coronavirus disease 2019 (COVID-19) cases demonstrate mild to asymptomatic disease, COVID-19 can cause serious complica-tions and death However, risk factors for development of such complications are not well understood The purpose of this study was to identify risk factors for intubation, cardiac arrest, and death in COVID-19 patients Methods: A retrospective chart review of COVID-19 subjects was conducted of the first 185 patients for whom we had complete data sets Subjects were adult inpa-tients with a confirmed COVID-19 diagnosis who were hospitalized between March and May 2020 at Vidant Medical Center in Greenville, NC Data including demo-graphics, comorbidities, laboratory results, treatments, and outcomes were collected Data were analyzed using logistic regression models and receiver operating character-istic curves in SAS 9 4 Results: Of the first 185 subjects hospitalized for COVID-19, 26% of patients were intubated, 9% experienced cardiac arrest, and 17% died Subjects who required intubation were more likely to exhibit elevated triglycerides, sepsis, acute respiratory distress syndrome (ARDS), acute kidney injury (AKI), elevated troponin levels, altered mental status, leukocytosis, lymphopenia and elevated ferritin (P< 0 05) (Table 1) Troponin elevation, ARDS, AKI and thrombocytopenia were risks for cardiac arrest (P< 0 05) (Table 2) Risk of death was increased in those presenting with advanced age, critical or severe disease, lymphopenia or thrombocytopenia, and in those with history of coronary artery disease (CAD) (P< 0 05) (Table 3) Patients presenting with AKI, elevated Troponin, ARDS, pressor requirements, critical disease, and sepsis were at increased risk of intubation, cardiac arrest, and death (P< 0 05) (Tables 1-3) Table 1: Top non-ICU related risk factors for intubation ordered by AUC Table 2: Top risk factors for cardiac arrest ordered by AUC Table 3: Top risk factors for death ordered by AUC Conclusion: In this rapidly evolving pandemic, clinician awareness of risk factors for clinically significant outcomes such as intubation and mortality is essen-tial Assessment of risk factors like those highlighted in this study can aid in clinical decision-making and predicting patient outcomes As more data becomes available we aim to develop a validated scoring system to assist clinicians in patient care (Table Presented)

This study presents the effects of the syndication of venture capital investments, on start-ups innovation. For this purpose, we have built a database of 315 deals carried out in 96 companies over a ten-year period. This study attempts to characterize the importance of the role of resources and the competitive advantage they confer to companies. By using the level of research and development (R&D) expenditure and patent applications as a measure of innovation, we highlight several results. Using a dynamic panel approach, we observe that the use of syndication financing tends to optimize the effects on the innovation of start-ups.

Cet article vise à étudier les effets d’un financement par Business Angels et par Capital-Investissement sur l’innovation. Dans cette étude, nous proposons une définition stratégique du concept d’innovation en lien avec le besoin en financement des entreprises. De cette manière, nous tentons d’identifier si certains modes de financement ont un impact sur celle-ci. Pour cela, nous avons constitué une base de données regroupant un ensemble d’entreprises financées par Capital-Investissement et par Business Angels dans sept pays européens. En prenant comme mesure de l’innovation le niveau des dépenses de recherche et développement (R&D) et le nombre de dépôt de brevets, nous mettons en évidence trois éléments principaux. La présence de ces investisseurs a un impact positif sur les dépôts de brevets (toutefois non significatif pour les Capital-Investisseurs) et un impact négatif sur le niveau des dépenses de R&D (significatif uniquement pour les Capital-Investisseurs). Ces résultats tendent à montrer qu’il n’existe pas de différence significative entre l’effet du financement des B.A. et C.I. sur l’innovation des entreprises.Classification JEL : G24, G32, G39

Cet article presente les effets des financements par syndication mixte sur l'innovation des start-ups. Pour cela nous avons construit une base de donnees regroupant 315 financements realises dans 96 entreprises sur une periode de dix annees. Cette etude tente caracteriser l'importance du role des ressources et de l'avantage competitif qu'elles conferent aux entreprises. En utilisant le niveau des depenses de recherche et developpement (R&D) et les depots de brevets comme mesure de l'innovation nous mettons en evidence plusieurs resultats. Grâce a une approche par panels dynamiques, nous observons que le recours au financement par syndication tend a « optimiser » les effets sur l'innovation des start-ups.

This research aims to understand the study of the relationships between public and private investors in France and their effects on business innovation. The literature review, based on both the public-private partnership (PPP) approach, complex network theories and resource-based-view theories, highlights the complementary role of disciplinary and incentive mechanisms as well as the exchange of specific resources as levers of value creation. These perspectives crossed with the organizational hybridization approach allow us to build a coherent framework explaining the phenomenon of mixed syndication and the relations between public and private actors. The methodology used adopts a qualitative approach with an interpretative aim and is based on twenty-seven interviews transcribed in full. Our thematic content analysis assisted by Nvivo software indicates that the relations between public and private capital investors of a formal or informal nature, particularly in a syndication context, at a national or regional level, are representative of an economic-cognitive approach to networking and innovation. Moreover, if certain actors retain observable characteristics in their interventions with companies and managers, the syndication context reveals an organizational hybridization of public and private actors. This would allow the private actor to take advantage of the distribution of wealth when the company develops its innovation. Finally, we can identify a process of quest for legitimacy on the part of the public actor characterized by its controlling role within the public-private partnership (Beuve and Saussier, 2019).

This study examines how private equity financing and business angel financing affect innovation. In this study, we propose a strategic definition of theconcept of innovation in line with firms' financing requirements. In this way, we try to identify whether certain methods of financing have an impact on innovation. To achieve this, we have set up a database bringing together a sample of firms funded by private equity and business angels in seven European countries. Taking the level of R&D expenditure and the number of patent applications as the measure for innovation, we highlight three main elements. The presence of these investors has a positive impact on the number of patent applications (however not significant for private equity) and a negative impact on the level of R&D expenditure (only significant for private equity). These results tend to indicate that there is no significant difference in the effect of private equity financing and business angel financing on innovation.

Although majority of coronavirus disease 2019 (COVID-19) cases demonstrate mild to asymptomatic disease, COVID-19 can cause serious complications and death. However, risk factors for development of such complications are not well understood. The purpose of this study was to identify risk factors for intubation, cardiac arrest, and death in COVID-19 patients. A retrospective chart review of COVID-19 subjects was conducted of the first 185 patients for whom we had complete data sets. Subjects were adult inpatients with a confirmed COVID-19 diagnosis who were hospitalized between March and May 2020 at Vidant Medical Center in Greenville, NC. Data including demographics, comorbidities, laboratory results, treatments, and outcomes were collected. Data were analyzed using logistic regression models and receiver operating characteristic curves in SAS 9.4. Of the first 185 subjects hospitalized for COVID-19, 26% of patients were intubated, 9% experienced cardiac arrest, and 17% died. Subjects who required intubation were more likely to exhibit elevated triglycerides, sepsis, acute respiratory distress syndrome (ARDS), acute kidney injury (AKI), elevated troponin levels, altered mental status, leukocytosis, lymphopenia and elevated ferritin (P< 0.05) (Table 1). Troponin elevation, ARDS, AKI and thrombocytopenia were risks for cardiac arrest (P< 0.05) (Table 2). Risk of death was increased in those presenting with advanced age, critical or severe disease, lymphopenia or thrombocytopenia, and in those with history of coronary artery disease (CAD) (P< 0.05) (Table 3). Patients presenting with AKI, elevated Troponin, ARDS, pressor requirements, critical disease, and sepsis were at increased risk of intubation, cardiac arrest, and death (P< 0.05) (Tables 1–3). Table 1: Top non-ICU related risk factors for intubation ordered by AUC. Table 2: Top risk factors for cardiac arrest ordered by AUC. Table 3: Top risk factors for death ordered by AUC. In this rapidly evolving pandemic, clinician awareness of risk factors for clinically significant outcomes such as intubation and mortality is essential. Assessment of risk factors like those highlighted in this study can aid in clinical decision-making and predicting patient outcomes. As more data becomes available we aim to develop a validated scoring system to assist clinicians in patient care. Paul P. Cook, MD, Contrafect (Grant/Research Support, Scientific Research Study Investigator)Gilead (Grant/Research Support, Scientific Research Study Investigator)Leonard-Meron (Grant/Research Support, Scientific Research Study Investigator)Lilly (Grant/Research Support, Scientific Research Study Investigator)

Dermatologic TherapyVolume 33, Issue 6 e13930 LETTER Herpes zoster as a potential complication of coronavirus disease 2019 Adrian Pona, Corresponding Author Adrian Pona [email protected] orcid.org/0000-0002-0087-7326 Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USA Correspondence Adrian Pona, Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, NC. Email: [email protected]Search for more papers by this authorRahim A. Jiwani, Rahim A. Jiwani Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorFelix Afriyie, Felix Afriyie Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorJonathan Labbe, Jonathan Labbe Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorPaul P. Cook, Paul P. Cook Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorYuxuan Mao, Yuxuan Mao Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this author Adrian Pona, Corresponding Author Adrian Pona [email protected] orcid.org/0000-0002-0087-7326 Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USA Correspondence Adrian Pona, Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, NC. Email: [email protected]Search for more papers by this authorRahim A. Jiwani, Rahim A. Jiwani Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorFelix Afriyie, Felix Afriyie Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorJonathan Labbe, Jonathan Labbe Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorPaul P. Cook, Paul P. Cook Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this authorYuxuan Mao, Yuxuan Mao Department of Internal Medicine, Vidant Medical Center/East Carolina University, Greenville, North Carolina, USASearch for more papers by this author First published: 30 June 2020 https://doi.org/10.1111/dth.13930Citations: 23Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL No abstract is available for this article.Citing Literature Volume33, Issue6November/December 2020e13930 RelatedInformation

This research in progress aims to understand the governance of managerial intercultural relations in the context of a merger of two SMEs in Luxembourg financed by a British Private Equity firm. An analysis of the intercultural environment of the company and of the structure of the forces at play exposes the influence of the multicultural factor on the implementation of the merger. The literature review, focused on intercultural management and approaches in terms of varieties of capitalism, highlights the cultural behavioral variables of the relationship between the decision-makers of the merged company. These perspectives allow us to build a framework explaining the relationship between intercultural strength and governance mechanisms in a company merger process. The qualitative methodology used is based on four interviews and a study of contextual elements in order to provide material for a content analysis. The results highlight the tensions exacerbated by the SME merger context in the exercise of governance by its actors and show the influence of the intercultural forces on the implementation mechanism of the merger project. We conclude by underlining the limits of the study and related other research opportunities.