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Using the global financial crisis as a critical event and based on institutional theory and stakeholder theory, this paper aims to explore the relationship between corporate governance and corporate social responsibility (CSR). The question is how stakeholders can influence corporate responses to societal change by using their position in the governance structure.

The analysis is based on a historical analysis of data collected mainly between 2002 and 2004. The historical perspective enables an understanding of the response of the company to environmental changes.

The approach enables researchers to relate the normative component of CSR to specific governance mechanisms. These governance mechanisms are specified in direct and indirect influence pathways. Historical data shed light on how, in the upbeat of the crisis, stakeholders have influenced the principles and policies of the ING Group, a Dutch financial company.

The paper suggests that stakeholders influence principles – normative assumptions that guide corporate decisions – mainly in dialogue-based meetings (direct influence pathways). Companies are made accountable in indirect influence pathways such as regulations. The author also demonstrates that a historical approach enables an understanding of long-term historical developments and the linking of corporate policies to the normative assumptions of stakeholders.

If stakeholders wish to assess the social responsibility of a company, then they should assess the governance structure in relation to the principles and policies. The power structure within a company and that within the institutional framework in which the company operates (the governance system) strongly influences how a company executes its social responsibilities.

The paper demonstrates how stakeholders can use the governance structure to influence a bank. If society – or a specific group in society – wants banks to play a different role, this paper points to what could be the levers of change in the governance system and the governance structure.

Insights into the complex relationship between corporate governance and the processes in which the social responsibilities of a company are developed.

The purpose of this paper is to examine the history of the Dutch cooperative Rabobank to understand how the structure of an organisation determines how individual employees validate norms within that organisation.

Data over an approximately 10-year period starting 25 years ago are analysed, and the value of relating a historical analysis and narrative approach to ethical and institutional theories in economics and management science is demonstrated.

Regulation in the banking sector appears to have a strong normative aspect. The choice between state and private ownership is based on ideology. The author argues that the private ownership model was based primarily on an ideology surrounding economic efficiency, but that in fact there are other logics that also promote economic development. This contributes to the understanding of the interaction between sector standards, organisational structures and the values of organisations and individual employees. The structure of an organisation enables key employees to deviate slightly from the organisation’s prevailing norms in response to pressures from the wider environment, and those individuals thereby become symbols of that organisation.

The perspective on management history put forward in this paper enables assessing the distinction between normative notions in institutional environments and the organisation as a whole as represented in its governance structure and narratives that key employees disseminate about the organisation. This in turn helps us to understand the interaction between sector standards, organisational characteristics and values represented by individual employees. The author reveals the strong normative impact of banking regulation in line with an older ideological model focused on economic efficiency rather than market logics and the interests of society.

Grahl (2006) has commented that current manifestations of institutional shareholder activism are limited by the rise of the shareholder value doctrine in EU member states and the absence of strong legal frameworks restraining corporate practice. Survey studies have pointed to a generally muted response to legislative encouragement that financial institutions engage in reformist activist practices. Several studies have attempted to measure the effect of legislation calling on financial institutions to disclose the extent of their involvement with companies in which they have invested. All such studies have concluded that strong shareholder activism policy would require adjustments to the manner of remuneration of investment managers and intermediaries. For example, a study of pension fund reporting immediately following the introduction of British legislation in 2000 found that most surveyed organisations had disclosed the use of ‘social considerations’ in investment processes (Mathieu, 2000), with little more added by way of elaboration. (The latter observation is also couched a high non-response rate (67 per cent).) More recent studies demonstrate the struggle of pension funds in this regard. Pension funds have tended to follow conservative ‘hands-off’ ownership strategies, whereas activist approaches typically require a very different ‘hands-on’ approach (Johnson & De Graaf, 2009; Eurosif, 2010).

In order to better understand how heuristics are used in practice, the authors explore what type of heuristics is used in the managerial domain of financial advisors to small and medium-sized enterprises (SMEs) and what influences the shaping of these heuristics. In doing so, the authors detect possible fast-and-frugal heuristics in day-to-day decision-making of independent financial advisers who help owners of SMEs to acquire capital (e.g. loans, factoring, leasing and equity).

The authors inductively assessed the work of financial advisers of SMEs. Based on group discussions, the authors drew up a semi-structured interview-protocol with descriptive questions about how financial advisers come to a deal for their clients. The interviews of 19 professionals were analysed by relating them to the theory of fast-and-frugal heuristics.

Within their decision-making, advisers estimate the likelihood of acceptance by a few financial providers they know well in their personal network with a strong bias towards traditional banking products, although there are a large number of alternatives on the Dutch market. “Less is more” seems to be a relevant principle when defined as satisficing. Heuristics help advisers to deal with behavioural and economic limitations. Also, the authors have found that client interaction, previous working experience and the company the adviser is working for influences the shaping of the simple rules the adviser is using.

The study shows how difficult it is to understand the ecological rationality of a certain group of professionals and to understand the “less is more” principle. Financial advisers to SMEs use cognitive shortcuts and simple rules to advise SME-owners, based on previous experiences, but it is difficult to determine whether that leads to the same or even better solutions for them and their clients than using probability theory and financial optimisation models. Within heuristics, satisficing seems to be a dominant mechanism. Here, heuristics help advisers in recognising possibilities by searching for similarities between a current financing case and previous experiences. The data suggests that if “less is more” is defined as satisficing for one or more stakeholders involved, the principle dominates the decision making of financial advisers of SME's.

The authors suggest the relevance of a behavioural approach to finance by assessing the day-to-day decisions of financial advisers of SMEs. Also, the authors suggest that financial advisers are guided by previous experiences, and they do not fully assess a wide range of options in their work but need shortcuts to fulfil the needs of their clients.

The study comes close to day-to-day decision-making in finance by assessing how professionals make decisions. The authors try to understand types of heuristics in relation with “ecological rationality” and the less is more principle. The authors assess financial advisers of SME-companies, a group that has gotten little research attention until now. The influence of client interaction and of the company the adviser is working for is remarkable in the shaping of the advisers' simple rules.

Since Thomas Kuhn (1962), a historian of science who gave ‘paradigm’ its contemporary meaning, the term ‘paradigm’ has been widely used in science and social sciences to refer to a theoretical framework or thought pattern in any given discipline, or broadly, a set of experiences, beliefs and values that affect individual perceptions of a reality and their subsequent reactions. A dominant paradigm is the widely held system of thought in a society at a particular period of time. For Kuhn, a dominant paradigm can be changed and replaced by a new one, which often occurs in a revolutionary manner in science. In social sciences, ‘paradigm shift’ implies the changing ways of understanding and organising a social reality.

The literature on terrorism suggests a strong link between criminal offending and terrorism – the crime-terror nexus. Building upon a strain theory perspective, the purpose of this paper is to suggest that devalued socio-economic status (i.e. limited education and unemployment) and criminal past define the pool of people from which violent and terror offenders may be recruited.

The current study compares three sources of data on educational and employment characteristics of violent and terror offenders: Dutch statistical data (CBS) including the Police Recognition System (HKS) on violent criminals, the findings on jihadist networks and the open access on European terrorists.

The majority of Dutch violent offenders, foreign fighters and European terrorists have only completed secondary school (or lower) and were unemployed in the year of offending. Half of recent European terrorists had previously been involved in violent crimes and/or had joined jihadi groups abroad.

One limitation of the study concerns the exploratory use of secondary and open-access data. While it was impossible to establish causality with the current methodology, these findings highlight the background conditions under which violent and terrorist crime can originate, and suggest one of the mechanisms that shapes the crime-terror nexus. Future research would benefit from more work identifying the causal antecedents to terrorism.

Whether relative deprivation is a direct cause or merely an amplifying factor in criminal motivation needs to be scrutinized in future research. However, its consideration may have great implications for policy and law enforcement agencies.

An individual’s desire to improve status and personal significance by the virtue of illegal activity may be particularly salient in the context of cultural polarization, which manifests as decreased trust and loyalty toward national laws and institutions. Parallel to preventive and security measures, it may be worthwhile to encourage multicultural associations and community networks in support of mutual (interethnic and interreligious) understanding.

The paper explores one of the oldest factors that has been suspected of leading to terrorism in lack of economic or educational opportunity. However, the paper also offers a new perspective on how these factors may relate to participation in terrorism. Rather than claiming these factors directly cause terrorism, the authors take a strain theory perspective to argue that these strains induce fewer opportunities to engage in terrorism and provide individuals with the skills/strength to resist de-radicalization or counter-radicalization.

An investigation of parallels between homegrown, international, and domestic terrorism.

A comparative method is used to analyze data from two main sources, ITERATE data on international and the TWEED data on domestic terrorism. The similarities are tested in various dimensions – target types, severity, and the method of the attacks.

Homegrown terrorism is inherently motivated by domestic issues. Moreover, variables of ethnic heterogeneity, political inclusiveness of fringe groups, and problems in the democratization process are good predictors of the occurrence of other forms of domestic and homegrown terrorism alike.

Number of observable cases of homegrown terrorism are low. The two main datasets have potentially overlapping incidents.

Provides and operational definition of homegrown terrorism and test empirically the similarity between homegrown and other types of terrorisms.

THIS issue opens the new volume of THE LIBRARY WORLD and it is natural that we should pause to glance at the long road we have travelled. For over forty years our pages have been open to the most progressive and practical facts, theories and methods of librarianship; our contributors have included almost every librarian who has held an important office; and we have always welcomed the work of younger, untried men who seemed to have promise— many of whom have indeed fulfilled it. In the strain and stress of the First World War we maintained interest and forwarded the revisions in library methods which adapted them to the after‐war order. Today we have similar, even severer, problems before us, and we hope to repeat the service we were then able to give. In this we trust that librarians, who have always regarded THE LIBRARY WORLD with affection, will continue to support us and be not tempted because of temporary stringency, to make a victim of a journal which has given so long and so independent a service.