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The literature on precarious and insecure work rarely examines how workers with jobs in large bureaucratic firms experience insecurity. Current theories suggest two approaches. First, workers might focus on their individual occupation and detach their commitment from firms that no longer reciprocate long-term commitments. Second, employees might respond with increased organizational commitment because leaving an employer creates risks of uncertainty. Based on in-depth interviews with 22 financial services professionals, this paper refines our understanding of when workers focus on intra-organizational career development. This happens when large firms offer opportunities for advancement and foster loyalty. I develop the terms spiral staircase and serial monogamy career. A spiral staircase career results when workers take entrepreneurial approaches to advancement that include lateral job changes and vertical promotions within a firm. When the local labor market has multiple firms in their sector, career advancement may take an intermediate form, in which workers spend medium-to-long-term stints with multiple organizations. I call this the serial monogamy career. My research shows how sector characteristics and geography can impact worker commitment and mobility in insecure environments.

Dynamic predictions of financial distress of the firms have received less attention in finance literature rather than static prediction, specifically in Malaysia. This study, therefore, investigates dynamic symptoms of the financial distress event a few years before it happened to the firms by using neural network method. Cox Proportional Hazard regression models are used to estimate the survival probabilities of Malaysian PN17 and GN3 listed firms. Forecast accuracy is evaluated using receiver operating characteristics curve. From the findings, it shown that the independent directors’ ownership has negative association with the financial distress likelihood. In addition, this study modeled a mix of corporate financial distress predictors for Malaysian firms. The combination of financial and non-financial ratios which pressure-sensitive institutional ownership, independent director ownership, and Earnings Before Interest and Taxes to Total Asset shown a negative relationship with financial distress likelihood specifically one year before the firms being listed in PN 17 and GN 3 status. However, Retained Earnings to Total Asset, Interest Coverage, and Market Value of Debt have positive relationship with firm financial distress likelihood. These research findings also contribute to the policy implications to the Securities Commission and specifically to Bursa Malaysia. Furthermore, one of the initial goals in introducing the PN17 and GN3 status is to alleviate the information asymmetry between distressed firms, the regulators, and investors. Therefore, the regulator would be able to monitor effectively distressed firms, and investors can protect from imprudent investment.

Business corporations (and unincorporated joint-stock companies) formed in Britain and the United States in the eighteenth century and the first half of the nineteenth century were lightly regulated by today’s standards and, as startups, sold equity directly to investors without the aid of intermediaries, yet they suffered relatively few governance breakdowns. That is because republican government-style checks against the arbitrary power of any group of stakeholders (managers, blockholders, directors) suffused their founding documents (charters/constitutions, articles of agreement, bylaws), raising the expected costs of defalcation above the expected benefits. Over the latter half of the nineteenth century, however, the original checks disintegrated. They were functionally replaced twice, first by financial capitalism a la J. P. Morgan, then by corporate raiders and takeover specialists like KKR, but politicians neutralized the first and managers (and judges) the second, leaving many widely held corporations today under the control of CEOs/Board Chairmen who can self-deal with near impunity and have apparent incentives to do so. A return to the precepts of the republican model could help to improve governance outcomes in the future.

During the last decade of the Twentieth Century the advanced North Atlantic economies performed in a markedly profitable way seen from the perspective of corporate business. This has neither led, however, to the impediment of a deepening social crisis, nor to the arrest of a crisis for liberal political values and norms of citizenship. On the contrary social exclusion was exacerbated, increasingly racialized and associated with immigrants and new visible ethnic minorities. A perhaps more conspicuous, but closely related, manifestation of this crisis of welfare and political values has, within the European Union, been the upturn of new nationalist, racist-populist political movements centered on the “problem of immigration.” This change of the political spectrum, brought about by the new right nationalist-populist upsurge, may eventually jeopardize the whole project of European integration, and the current tightening up of European regimes of both immigration and the societal incorporation of immigrants obviously reflects such worries. Simultaneously, however, influential employers, politicians and public servants have, time after time, cried out for the need for continued and increased large-scale import of low- as well as high-skilled migrant labor, seen as a remedy to Europe’s imminent “demographic crisis.”

Depending on the research approach one uses, the development of particular bodies of knowledge over time is the result of a combination of agency, chance, opportunity, patronage, power, or structure. This particular account of the development of geographies of tourism stresses its place as understood within the context of different approaches, different research behaviors and foci, and its location within the wider research community and society. The chapter charts the development of different epistemological, methodological, and theoretical traditions over time, their rise and fall, and, in some cases, rediscovery. The chapter concludes that the marketization of academic production will have an increasingly important influence on the nature and direction of tourism geographies.