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The purpose of this paper is to investigate the relationship between CEOs' inside debt holdings (pension benefits and deferred compensation) and the operating leverage of the firms they manage, with the aim to examine whether CEO incentives play a role in corporate risk-taking.

The authors investigate the relation between CEO inside debt holdings (CIDH) (pension benefits and deferred compensation) and the operating leverage (DOL) of the firms they manage. Using a sample of 11,145 US firm-year observations over the period 2006–2017, the authors find a strong negative association between CIDH and DOL. Additional analyses reveal that the relationship between CIDH and DOL is more pronounced in firms with heightened agency issues, powerful CEOs and for CEOs with stronger professional networks. The results are robust to various sensitivity and endogeneity tests.

The authors find strong evidence confirming the expected negative association between CEO inside debt and DOL suggesting that firms with higher inside debt tend to maintain lower levels of operating leverage. These findings continue to hold with the alternative measure for the inside debt and operating leverage, and across a range of tests designed to rule out the possibility that the primary findings are in any way driven by potential endogeneity. In addition, the findings demonstrate that the presence of manager-shareholder agency conflicts can strengthen the inside debt–DOL relationship suggesting the strong role of inside debt in reducing firm risk.

Findings in this paper have implications for design of compensation structures so that corporate boards can establish incentives as a tool for risk management. A limitation of this study is that it is focused on one market, i.e. US listed companies, so the findings may not be applicable on a global scale.

To the best of the authors’ knowledge, this is the first study that links firm-level management of operating leverage through design of CEO inside debt incentives (two obvious choices for risk-reduction at the CEOs’ disposal include reducing financial risk through reduction of firm leverage and reducing operating risk through reduction of operating leverage). While use of firm leverage as an instrument of choice has been explored in the past, use of operating leverage to achieve risk reduction when CEO possess high inside holding, has received very little attention.

This chapter is dedicated to understanding the idea of international as a key notion to the development of globalisation and to promoting the rescaling of spaces and subjects in contemporary higher education. The author discusses the concept of scale as a performative device that activates the capacities of bodies. Instead of seeing scale as a naturalised and hierarchical structure of spatial distribution, the author understands it as an ensemble of discourses and practices that produce scalar effects. Globalisation uses scale to promote the idea that subjects would become ‘international’ by being linked to privileged spaces and bodies in the Global North. In this sense, globalisation is not merely about nodes where certain flows converge. Rather, the author understands it as the political conditions that control and constrain the space for certain flows to occur and not others. Using assemblage analysis, the author presents and analyses three scenes taken from his ethnographic records that have as a guiding line the materialisation of the international. These scenes report the experience of being a Latin American doctoral student attending a congress in the United States, a tense situation experienced at a Chilean university academic event, and the unpretentious manifestation of an elaborate idea of internationality from a personal experience of a trip to India. The results point to three elaborations of the international: an optimistic view of a shared world, a geopolitical internationality and the production of a global corporeality.

Racial stigma and racial criminalization have been centralizing pillars of the construction of Blackness in the United States. Taking such systemic injustice and racism as a given, then question then becomes how these macro-level arrangements are reflected in micro-level processes. This work uses radical interactionism and stigma theory to explore the potential implications for racialized identity construction and the development of “criminalized subjectivity” among Black undergraduate students at a predominately white university in the Midwest. I use semistructured interviews to explore the implications of racial stigma and criminalization on micro-level identity construction and how understandings of these issues can change across space and over the course of one's life. Findings demonstrate that Black university students are keenly aware of this particular stigma and its consequences in increasingly complex ways from the time they are school-aged children. They were aware of this stigma as a social fact but did not internalize it as a true reflection of themselves; said internalization was thwarted through strong self-concept and racial socialization. This increasingly complex awareness is also informed by an intersectional lens for some interviewees. I argue not only that the concept of stigma must be explicitly placed within these larger systems but also that understanding and identity-building are both rooted in ever-evolving processes of interaction and meaning-making. This research contributes to scholarship that applies a critical lens to Goffmanian stigma rooted in Black sociology and criminology and from the perspectives of the stigmatized themselves.

In contrast to Ahmet Kuru's argument that a critical juncture occurred in the 11th century when a repressive anti-intellectual state-ulema alliance appeared, which destroyed the creative spirit of the previous centuries in Islam, this review argues that the critical juncture must be sought in the modern era with the development of citizenship in the Middle East.

In October 2016, Timothy Sloan, the newly appointed CEO of American banking giant Wells Fargo, faced a massive public-relations crisis. A few weeks earlier, a United States government agency had announced the results of its regulatory review of the bank and exposed a shocking practice common in the retail division, in which aggressive community bankers had created more than a million fraudulent accounts and credit card applications on behalf of unaware customers for the past several years. Over the next few weeks, the bank—and Sloan's predecessor, John Stumpf, in particular—suffered from harsh criticism from politicians, journalists, and former employees alike, ultimately forcing Stumpf's resignation. As Sloan sought to minimize the public-image backlash and restore general trust in Wells Fargo, he struggled to construct the best communication strategy for the bank's next chapter.