Search results

While subordinated debt can be used to increase market discipline on banks by playing a corporate governance role in the presence of a federal safety net that encourages risk taking, it also has implications for banks’ loan sales. Using two measures of banks’ loan sales activity, we find greater proportions of subordinated debt increase the likelihood that banks engage in loan sales activity, and are associated with greater proportions of loan sales. Our results have implications about banks’ lending efficiency as well as their transparency and disclosure policies that could play a role in the transmission mechanism of monetary policy.

The burgeoning interest over the last decade in technology transfer at universities in the United States has driven contentious debates over patent policy. In this context, biotech patenting has become the poster-child for claims that the proliferation of patenting by universities, and in the private sector, is undermining scientific norms and threatening innovation. Commentators have expressed particular fears about the negative effects of biotech patenting on the public information commons and concerns about emerging “patent anticommons.” This chapter argues that the standard (finite) commons model is being misapplied in the biotech arena because, owing to the complexity of biological processes and the power of existing biotech methods to produce genetic data, biomedical science is, in crucial respects, an unbounded, uncongested common resource. These findings imply that strategic biotech patenting of problem-specific research tools (i.e., single-nucleotide polymorphisms, drug targets) is not economically justified and therefore is irrational.

When FECS spins out of human intervention and regulatory control, then it can easily harm and constrain the markets as it happened on Black Friday of October 1929, resulting in the Great Depression, and the September–October 2008 Financial Crisis, when some 17 mega global investment banks ran out of control and lost close to trillion US dollars in market capitalization. This chapter defines, analyzes, classifies, and morally assesses occupational and corporate fraud, corruption and money-laundering, and their other evil forms. When we allow our choices to be driven by passion, choosing thereby to ignore or fail to investigate outcomes, the results are too often flawed and unintended, as the cases of Lehman Brothers, AIG, Freddie Mac, and Fannie May that collapsed around September–October 2008 would attest. While we should condemn abuses within the FECS, one can also seek to understand the origins and originating systems of fraud, corruption, and various forms of deceptions and chicanery, and search for remedial strategies for eradicating these ills of FECS. Several contemporary market cases of fraud, corruption, and bribery will be identified to illustrate the contents of this chapter.

In this chapter, we report findings from a three-year, survey- and interview-based study involving 538 families bringing up children with disabilities in Alberta, Canada. The focus of the study was on the everyday challenge and accomplishment of sustaining a routine of daily life. The families who participated in this study were diverse, yet they struggled with many of the same questions and challenges. Four over-arching and inter-related challenges emerged from our analysis of the interview data. These are difficulty balancing the competing needs and wants of their children; tension between wanting to protect and wanting to integrate their child and family into the community; conflict between earning and care giving activities; and, trouble accessing and navigating supports and services. This chapter includes a small sample of illustrative family stories. The study findings suggest that parents are striving but struggle to meet normative expectations, that is, to simultaneously do all they can to help their disabled child and create a routine that balances the needs and interests of all their children. One conclusion is that service systems and professionals can help and or hinder families as they strive to create and maintain a daily routine that is fitted to the local ecology and family resource-base, and congruent with their values and goals, and with the needs, interests, and competencies of family members.

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities in which the firms are engaged are outlined to provide background information for the reader.

Purpose – Research on punk culture often falls prey to three main dilemmas. First, an ageist bias exists in most popular music research, resulting in the continued equating of music and youth. Second, punk culture research often uses a Marxist economic lens that implies fieldwork reveals already known conceptions of class and culture. Third, research on punk culture lacks ethnographic and narrative examinations. This ethnographic project explores my reentry into punk culture as an adult, exploring it from a new researcher perspective. It provides an insider's view of emerging cultural themes at the site that disrupts these traditional research approaches.

Methodology/approach – This ethnography examines punk culture at an inner city nonprofit arts establishment. Through grounded theory and using a fictional literary account, this research probes how rituals and cultural narratives pervade and maintain the scene.

Findings – Concepts such as carnival, jamming as an organizing process – and as an aesthetic moment – emerged through the research process. This ethnography found narratives constituted personal and communal identity.

Research limitations/implications – As a personal ethnography, this research contains experiences in one local arts center, and therefore is not necessarily generalizable to other sites or experiences.

Originality/value of paper – Using ethnography, I explored punk as one of my primary identities in tandem with younger members of the scene. It critiques Marxist and youth approaches that have stunted music scene research for decades.

This chapter examines US Africa Policy under Obama with a particular focus on the Southern African region. The author examines American policy from a historical perspective to give credence to his view that while certain changes have occurred in American global and Africa Policy in particular, it is the issues that have changed, and the drivers of that policy change but the fundamental basis of the American policy has not changed much. American policy has remained anchored on global hegemony driven by the increasingly frayed Washington consensus as expressed initially in its Cold War rhetoric and stance against the former USSR and its perceived allies and now against terrorism.

This work examines the existing literature on Southern African history and politics written by scholars and observers including regional heads of state like Nyerere of Tanzania and Kenneth Kaunda of Zambia. This study also draws from the author’s knowledge and experiences as a citizen and observer over the years of the many facets of vicissitudes of regional politics and is interface with international foreign policy pressures and interests. This work thus, draws from the literature on and about regional politics and international relations over the years coupled by the author’s personal experiences.

This chapter makes clear link between Cold War politics and current American foreign policy on African and the Southern African region in particular. In fact the US anti-terrorism rhetoric has remained consistent during and after the Cold War. During the Cold War, liberation movements in Southern Africa fighting to end colonial rule and racist apartheid regime were declared terrorist movements and hence the subject of US hostility especially given these movements’ support for arms and materials from the USSR and China. USSR was manufactured as the organizer of international terrorism. Proxy wars were waged to deal with these movements and their supporters such as the war in Angola where the United States supported dubious and questionable characters like Jonas Savimbi of the National Union for the Total Liberation of Angola (UNITA) and Holden Robert of the Front for the National Liberation of Angola (FNLA) and Zairian dictator, Mobutu SeseSeko. While FNLA was widely accepted as a CIA outfit, Mobutu was imposed by US intelligence support (CIA) against a popular leader, Patrice Lumumba, who was assassinated shortly after independence.

At the end of the Cold War a new form of terrorism manifested itself in the form of Muslim Jihadists who on the continent were seen to emerge in East Africa and the Horn of Africa and the American fascination has been to ensure that this terrorism does not afflict the rest of the continent and the Southern African region in particular. Support to African governments has shifted from the initial years of confused neglect complimented with ambivalent engagement and finally, to humanitarianism. This has taken the form of the support to Africa to fight HIV and AIDS so as to harvest a favourable ground among African governments. This was seen as helping to ensconce American support in the region and weaken the ground for the Al Qaeda intrusion, real or imagined. It was also hoped that this might help counter growing Chinese influence. It is not entirely surprising too that the economic and strategic focus has been to sustain a declining hegemonic position especially in a region where Chinese investments and influence have outstripped American and Western influence.