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Purpose – The purpose of this chapter is to explore the voluntary corporate governance role played by credit rating agencies, closing the ‘trust at a distance’ gap which might otherwise hinder fundraising in debt capital markets.

Methodology/approach – The chapter draws on Giddens’ system trust theory and Foucauldian perspectives of knowledge/power to unpack trust production as a discursive process in financial markets. Foucauldian discourse analytic techniques are used to examine texts deployed by or about Standard & Poor's, the global credit rating agency, leading up to the 2007 credit crunch.

Findings – The texts analysed illustrate the influence of rating agencies in producing trust as well as mistrust in debt instruments.

Research limitations/implications – Rating agencies produce trust by aligning with state regulatory systems, simplifying complex debt instruments with ‘AAA’ and other well-known mnemonics, as well as offering apparent transparency and guarantees.

Practical implications – While influential, rating agencies can only produce trust by proxy. Their contribution to the actual protection of investments is minimal.

Social implications – The analysis highlights the flawed nature of trust relations in debt capital markets as rating agencies’ primary customers are the arrangers and issuers of debt rather than the investors who seek protection from risk.

Originality/value – The chapter sheds light on the deliberate nature of trust production in financial markets. Five trust/mistrust production practices are introduced – protecting, guaranteeing, aligning, making visible and simplifying. Strategic trust production is established as part of corporate governance ideology in financial markets.

This chapter addresses issues within the marketing orientation business in Russia and identifies the demand for marketing models to increase consumer orientation. The chapter reveals the approaches used to organize effective marketing models including national business-specific features.

The authors show the importance of the marketing frameworks in emerging markets. A number of conclusions have been drawn on the most popular marketing tools.

The concept of sustainability started to be discussed in the twentieth century and lately has become an international concept for the social, economic, and environmental strategies and international agreements. In the path of sustainable development, green economics gained importance in international platforms. Sustainable finance includes environmental, social, and economic principles into decision-making processes, economic development, and investment strategies of the economic actors. The importance and volume of the use of green finance tools have risen in the last decades.

The 2007 BIS Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity Report shows a substantial increase in turnover in foreign exchange and OTC derivatives markets. Turnover in traditional FX markets increased to reach $3.2 trillion. The largest contributor to this 71% increase between April 2004 and April 2007 occurred in FX swaps. It was like a prelude to the financial crisis of 2007–2008 driven by transactions carried out between banks and other financial institutions due to the significance of hedge funds and major engagement of emerging market currencies which have sought new configurations of portfolio diversification worldwide.

The study examines how two types of trust – institutional and system trust – predict online banking intentions (OBI) as a function of generational cohort membership.

The study uses a cross-sectional survey of 559 U.S. Amazon Mechanical Turk (MTurk) members using quota sampling from three generational groups: SGI (born before 1946), older boomer (born 1946–1954), and millennial (born 1977–1992).

Results showed generational cohort differences in system and institutional trust as well as OBI. Serial mediation model results showed the model where institutional trust precedes system trust best explains the relationship between generational cohort membership and OBI.

While diverse, the sample comprised of MTurk workers and relied on self-report measures of behavioral intentions, thus limiting the generalizability of our findings.

This study introduces two levels of e-trust into the technology acceptance literature and provides a guideline for financial institutions and system designers to understand the role of trust in driving online service adoption and use for different generations.

This study explores generational differences in technology use with special focus on older adults, which is yet to be fully explored in the literature. This study differentiates between two levels of e-trust and explores the order in which both trust types mediate the relationship between generational cohort membership and OBI.

Technology is changing more rapidly than most companies can implement it. This chapter presents a digitized Human Resource Development (dHRD) Framework Model that organizational leaders can use to meet the needs of current and future workforces via avatar-mediated learning in 3D virtual learning environments (VLEs). The dHRD Framework Model leverages 3D VLE technology as a tool to engage employees and achieve strategic objectives in an efficient and cost-effective manner for managing people. The dHRD Framework Model can inform practice and advance employee engagement outcomes for effective HR decision-making, which includes legal and ethical considerations for mitigating risks in the 3D VLE. The Theory of Gamification, including psychological theories, provides the lens to explain dynamic learning and relationship building using the dHRD Framework Model to engage employees in the 3D VLE.

Managing global change is one of the key competencies demanded of global leaders and one of the main challenges they face, according to some scholars. However, leading change in the global context is one of the most under-researched areas of global leadership. This conceptual chapter first contrasts the organizational development and organization change fields and then proposes a hybrid approach termed global strategic change. Global strategies require new patterns of employee behavior and an enhanced appreciation of the dynamics of intercultural change in which two or more national cultures are involved. Understanding these demands on employee behavior will aid managers in pursuing their globalization efforts. Culture is conceived as a boundary condition, and cultural values that might impact each stage in the change process are identified. Two case studies illustrate successful global strategic change by expert global leaders who were not intimidated by cultural stereotypes. Thoughtful executives can create strategic performance improvements by avoiding being trapped or intimidated by a simplistic interpretation of cultural constraints.

A subprime loan to straw borrower Charlotte Delaney was used to fraudulently strip equity from an elderly African American couple in Chicago. Following this loan from origination to securitization highlights responsibility for the wave of early payment default loans that contributed to the implosion of subprime lending. The Delaney loan, funded by subprime lender Mortgage Investment Lending Associates (MILA), was representative of the stated income, no down payment loans that defaulted in 2006 at the peak of the subprime bubble. MILA was suffering financially from demands to repurchase loans and was insolvent as early as 2004. MILA underwriters approved the Delaney loans despite obvious indications of fraud. Goldman Sachs bought MILA loans for inclusion in a $1.5 billion residential mortgage-backed security. Goldman Sachs warned investors that subprime loans were high risk and promised extensive due diligence. When subpoenaed for evidence of due diligence on MILA, Goldman Sachs provided none. The drive to generate profits through securitization explains why Goldman Sachs did not investigate and did not uncover MILA's inability to repurchase a growing portfolio of early payment default loans. Competition to buy subprime loans for securitization relieved lenders like MILA of pressure to verify that their loans were sustainable and not fraudulent.