October 2019

Kuschman, Khun & Pfaerrer’s (2012) “Communicative Framework of Value in Cross-Sector Partnerships” represents a model for optimizing performance of NGOs. This paper presents the case of the WSKF Sports Foundation, which is part of a million-strong Japanese federation that spans over 20,000 clubs in more than 100 countries throughout all the continents except Antarctica, with cross-sectional illustrations of how the meaningful participation of members, the centripetal forces generated by the organization, and the consolidation of an institutional image through a coherent narrative, worked on the basis of authoritative texts, generated external influences and indeed led to substantially more revenues for the organization. Purpose: To explore the applicability and success of Kuschman et al.’s (2012) model in a global non-profit organization, and its implications for theory building on texts and institutional development. Design/methodology/approach: Case study, with internal data and interviews from a sample of country leaders to compare the degree of application of Kuschman et al.’s (2012) model, and the results obtained between the US, Canada, Ireland, Spain, Panama and Venezuela. Findings: Meaningful participation, expressed as collaborative networks, centripetal forces, and text adoption generate momentum and contribute in raising resources for the organization. The lack of such networks and internal forces, and/or the lack of a coherent narrative, working through authoritative texts, will negatively affect external influences and capitalization. Research limitations & implications: The impressive results of the WSKF Sports Foundation in Venezuela were institutionalized through that country’s 2011 Sports Development Law. Since 2009, it had already achieved 100% coverage of its championship costs and expenses. Nonetheless, there were differences in sister organizations located in countries that lack such socialist incentive. Also, the majority of the leaders in WSKF are college-trained, instead of only former athletes, a factor that should be controlled for in cross-sectional studies. Practical implications: An integral and integrating communicative framework, which according to Kuschman et al. (2012), requires a coherent narrative evolving from authoritative texts, is necessary to optimize the effectiveness of NGOs. Internal and external networking activities are of the essence in such development. Originality/value: Non-profit revenue depends on Disposable Personal Income and Public Awareness (as to any social cause). NGOs, however, can only influence one of these two variables, public awareness, and that can be best achieved through a coherent communicative framework and network.

Alternative Investments is an emerging market. In recent years, alternatives have become a prevalent aspect of multi-asset investing. It includes investments ranging from private, commercial, real estate, hedge funds, liquid alternatives to illiquid private equity funds, and real assets. The alternative investments industry is rapidly expanding and increasing its ability to provide durable investment strategies, and hence is attracting a growing number of individual investors. Due to extended periods of very low interest rates and rising volatility on equity markets around the world, traditional investments have left many investors with inadequate return. Therefore, the need for alternative investments is crucial but the greatest problem investors face is evaluating and allocating these alternatives in proper proportion to get maximum returns. The following paper assesses the primary factors that influence investors as they evaluate and make decisions about alternative investments and how adding them to portfolios can improve returns and reduce risks.