Search results

1 – 10 of over 1000
Article
Publication date: 29 March 2021

Linda Arch

Since the global financial crisis of 2007-2009 academic research has paid considerable attention to understanding the nature of the crisis, its causes and consequences…

Abstract

Purpose

Since the global financial crisis of 2007-2009 academic research has paid considerable attention to understanding the nature of the crisis, its causes and consequences. This is not surprising given the scale and scope of the crisis. Much of this research has been undertaken within social science disciplines. At the same time, the crisis has also been the subject of fiction – novels, poetry and drama, and there is also a small body of academic scholarship on fiction relating to the crisis (and on finance in fiction more generally). The purpose of this paper is to suggest that fiction can offer a new perspective on the global financial crisis and thereby enhance our understanding of it.

Design/methodology/approach

This exploration draws upon three works of post-crisis fiction: the 2009 play by David Hare, The Power of Yes: A Dramatist Seeks to Understand the Financial Crisis (hereafter The Power of Yes); Other People’s Money, a novel by Justin Cartwright (2011); and Robert Harris’s novel The Fear Index also published in 2011. Its approach is based on close readings of the three texts in question.

Findings

Finance fiction stimulates a reconceptualization of the global financial crisis as a crisis of innovation and technological change.

Originality/value

This paper is a viewpoint article. The originality lies in the author’s interpretation of reading the global financial crisis through fiction.

Details

Qualitative Research in Financial Markets, vol. 13 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

Abstract

Details

The Exorbitant Burden
Type: Book
ISBN: 978-1-78560-641-0

Article
Publication date: 16 April 2010

Bill Maurer

The purpose of this paper is to investigate the role of standard‐setting bodies and rating agencies which compete for authority in Islamic finance. It does so through a…

3870

Abstract

Purpose

The purpose of this paper is to investigate the role of standard‐setting bodies and rating agencies which compete for authority in Islamic finance. It does so through a consideration of a recent debate over the permissibility of sukuk financing.

Design/methodology/approach

The methods used are a combination of archival and bibliographic research, coupled with the author's previous research on Islamic banking and finance.

Findings

While the debate over sukuk hinged on whether the structures are shari'a compliant in form only, not in substance, the role of sukuk in neoliberal reform and the privatization of state resources reveal a deeper potential conflict between Islamic standard‐setting bodies and global neoliberal projects more broadly.

Research limitations/implications

The implications are significant for other Islamic finance contractual forms and modes of finance. They are also significant in light of the global financial crisis, and the recent debt crisis in Dubai. The research limitations have to do with the fact that this is a fast‐moving field and the global financial crisis has destabilized many institutions – both conventional and Islamic – in structured finance.

Originality/value

Few scholars have considered sukuk's legitimacy, or the competition between Islamic standard‐setting bodies and non‐Islamic global rating agencies.

Details

Journal of Islamic Accounting and Business Research, vol. 1 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 13 November 2020

Stuart Kells

The purpose of this paper is to share personal reflections on impacts of the COVID-19 pandemic on corporate governance and assurance, international finance and economics…

1228

Abstract

Purpose

The purpose of this paper is to share personal reflections on impacts of the COVID-19 pandemic on corporate governance and assurance, international finance and economics and non-fiction book publishing. The paper is intended both as a time capsule and as input for future governance and assurance reform and crisis response planning and related research.

Design/methodology/approach

This paper is an informal capturing and distillation of some personal experiences and insights relating to corporate governance and assurance, international finance and economics and non-fiction publishing in the context of the COVID-19 pandemic.

Findings

A key insight from the essay is that the pandemic has had diverse and wide-ranging impacts, many of which are likely to persist beyond the immediate response and recovery periods. The impacts have been felt across the public and private sectors, the for-profit and not-for-profit sectors and different industries.

Originality/value

The author, based in Melbourne, Australia, had an unusually diverse and multi-faceted experience of the pandemic. The essay concludes with directions for further research.

Details

Journal of Accounting & Organizational Change, vol. 16 no. 4
Type: Research Article
ISSN: 1832-5912

Keywords

Book part
Publication date: 29 October 2014

Jesse Hembruff

Austerity in Greece has produced the ostensibly counterproductive effect of throwing the country into a deeper depression and rendering it more difficult to repay its…

Abstract

Austerity in Greece has produced the ostensibly counterproductive effect of throwing the country into a deeper depression and rendering it more difficult to repay its debts. I address this apparent paradox by examining both the integration of Greece into the European Monetary Union and post-crisis austerity measures with a particular focus on the Greek credit system. I do so by employing a historical materialist framework focusing on Marx’s concept of ‘fictitious capital’, capital not backed by a commodity transaction, but by a claim on future value. I argue that, while the crisis is overdetermined, one hitherto unexplored dimension is the rapid expansion of the Greek credit system in the 1990s and 2000s. More specifically, Greek banks expanded to neighbouring countries, and borrowing by households and firmed spiked dramatically after Greece adopted the Euro, but a number of domestic political-economic factors acted as drags to this process. In this context, I argue that the crisis has served as an opportunity to impose a radically accelerated restructuring of the Greek economy in line with the ideal neoliberal utopia. This can be understood as one of the three responses to a crisis of fictitious capital: internal devaluation, asset devaluation or upward. However, the success of this project is far from guaranteed, so far the austerity project pursued by the troika has failed to replace the old Greek balance of social forces that have dominated the post-junta political economy of Greece.

Details

Research in Political Economy
Type: Book
ISBN: 978-1-78441-007-0

Keywords

Article
Publication date: 15 June 2012

Barbara Czarniawska

The purpose of this paper is to analyze common emplotments of interpretations of the financial crisis of 2007‐2010.

2117

Abstract

Purpose

The purpose of this paper is to analyze common emplotments of interpretations of the financial crisis of 2007‐2010.

Design/methodology/approach

The paper presents a text analysis.

Findings

The paper finds that the same “strong plots” are commonly used to explain financial crises to the general public.

Originality/value

The paper provides useful information on interpretations of financial crises.

Details

Accounting, Auditing & Accountability Journal, vol. 25 no. 5
Type: Research Article
ISSN: 0951-3574

Keywords

Abstract

Details

Harm Production and the Moral Dislocation of Finance in the City of London: An Ethnography
Type: Book
ISBN: 978-1-83909-495-8

Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

67701

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

Book part
Publication date: 10 February 2015

Peer Hull Kristensen

This paper is concerned to show how the Danish political elite interpreted and responded to the consequences of the 2008 financial crisis for the Danish economy. In

Abstract

This paper is concerned to show how the Danish political elite interpreted and responded to the consequences of the 2008 financial crisis for the Danish economy. In particular, the paper describes how this interpretive construction focused primarily on three features of the Danish context to the exclusion of other perspectives; the first was an emphasis on the problems of the financial sector, of interest rates and state finances; the second was that Danish productivity increases were falling behind other comparable countries and part of the solution required new strategies towards labour and unemployment benefits; thirdly, the adverse effects of the crisis were causing an increase in government expenditure and a decline in government revenues which was rapidly becoming unsustainable. As a consequence, the Danish elite fell into the broader interpretation of the crisis embedded in the dominant view within the EU institutions as well as among the international financial institutions such as the IMF and the World Bank, that a period of austerity and fiscal consolidation was the required remedy, even though this was likely to be pro-cyclical in its effects. However, the paper shows that alternative data which is more reflective of Denmark’s position in the global economy and the trajectory and form of its growth over the last decade reveals that the interpretation of the Danish elite has been too narrow and neglects the distinctive roots of Denmark’s competitive strengths. Indeed, by responding in the way which they have, the Danish elite is in danger of undermining the very conditions of Denmark’s competitiveness.

Details

Elites on Trial
Type: Book
ISBN: 978-1-78441-680-5

Keywords

Article
Publication date: 5 April 2021

Frederick Ahen

The purpose of this paper is to investigate how “manias” in global health governance lead to health inequalities even before, during and in the aftermath of acute health…

Abstract

Purpose

The purpose of this paper is to investigate how “manias” in global health governance lead to health inequalities even before, during and in the aftermath of acute health crises such as the COVID-19 pandemic. “Manias” as used here refer to obsessive ir/rational behaviors, misguided policy/strategic choices and the exercise of power that benefit the major global health actors at the expense of stakeholders.

Design/methodology/approach

From post-colonial and historical perspectives, this study delineates how the major global health actors influence outcomes in global health governance and international business when they interact at the national–global level using an illustration from an emerging economy.

Findings

Power asymmetry in global health governance is constructed around the centralization of economic influence, medico-techno-scientific innovation and the geopolitical hegemony of a conglomerate of super-rich/powerful actors. They cluster these powers and resources in the core region (industrialized economies) and use them to influence the periphery (developing economies) through international NGOs, hybrid organizations, MNCs and multilateral/bilateral agreements. The power of actors to maintain manias lies in not only how they influence the periphery but also the consequences of the periphery’s “passivity” and “voluntary” renunciation of sovereignty in medical innovations and global health policies/politics.

Social implications

As a quintessential feature of manias, power asymmetry makes it harder for weaker actors to actually change the institutional conditions that produce structural inequalities in global health.

Originality/value

This timely and multidisciplinary study calls for a novel architecture of global health governance. Thus, democratizing global health governance with sufficiently foresighted investments that prioritize equitable access by and the inclusiveness of vulnerable stakeholders will help dismantle institutionalized manias while decreasing health inequalities.

Details

critical perspectives on international business, vol. 17 no. 2
Type: Research Article
ISSN: 1742-2043

Keywords

1 – 10 of over 1000