Search results

This chapter discusses salient factors pertaining to the Global Financial Crisis (GFC), also called the Great Recession, which gave rise to contagion effects that continue to reverberate across the global financial landscape. The GFC is linked to three primary negative themes: build-up of credit in a global credit super cycle, New Financial Architecture (NFA) and financialization under neoliberalism, and a distorted relationship between laissez-faire economics/finance and normative political imperatives. The conclusion is that we need to rethink understandings of key principles in economics and finance and reform governance mechanisms of the financial system.

The essay examines an empirical phenomenon – the GFC – and discusses themes based upon the author’s insights gained from the vantage point of working in asset management during the Crisis. In addition, the author draws upon material from the academic literature and financial press. He problematizes finance through the lens of the GFC and suggests that the three causal factors being highlighted are enduring sources of instability in the financial system.

The conclusion is that financial crises such as the GFC are not caused by unpredictable exogenous variables but instead pertain to identifiable recurring factors and human failures. Structural, epistemological, and behavioral issues are aggravated by neoliberalism. Finance is integral to economic activity. But under neoliberalism, the global financial economy rapidly assumed a particular form of financialization founded on market fundamentalism and political and regulatory capture. Neo-liberal coöptation of finance, economics, and politics needs to be reversed to place financial and economic activity within more robust frameworks that take into account credit cycles, flaws, and instabilities inherent in the system while applying appropriate regulatory mechanisms to prevent crises.

Scholars and practitioners can draw upon claims made in this essay to propose more substantive reforms to the global financial system. These range from redesigning how finance and economics are understood and taught, to imposing circuit breakers to prevent credit cycles from becoming untenable bubbles.

Neoliberalism is a political project that has distorted understanding of empirical truths while also effecting a paralysis with regard to fixing problems. The market fundamentalism that neoliberalism prescribes and promulgates results, time and time again, in financial crises that have disastrous consequences including massive wealth destruction. It is crucial to reform the system and create more sustainable, less volatile paradigms of financial and economic life.

Arguments in this chapter are simple and straightforward but have significant implications for achieving more nuanced understandings of the financial system. Claims are presented as distillations of how the system actually works, especially the way in which it tends toward conditions of crisis and stress. Mainstream finance and economics are characterized as predicated upon certain erroneous propositions, particularly concerning efficient markets and rational agency, core tenets of the neo-liberal project.

Corporate governance scholars have built on agency theory premises to document chief executive officers' (CEOs’) debt-based compensation, also known as inside debt, as an effective tool to control excessive risk and deter risky corporate strategies. In this study, the authors draw on behavioral agency model to put these well-established assumptions to the test in a different setting and argue for the context-specific effects of CEOs' long-term compensation.

Focusing on corporate mergers and acquisitions in a post-crisis period (2011–2017), the authors cast doubt on agency theory predictions on debt-like compensation, point to the more realistic assumptions of behavioral decision models, and call for more contingency approaches in theoretical arguments.

An analysis of more than 4000 observations reveals that neither CEOs nor shareholders react significantly to inside debt after the economy recovers. Firm risk is also influenced only marginally by long-term compensation in a normal period of time.

While extant literature is rather unanimous on risk-reducing impact of inside debt, the study periods span the financial crisis of 2007. This research is the first conducted in regular times to demonstrate that previous findings are biased and heavily influenced by an exogenous shock.

Much of the current literature on category construction and maintenance has focused primarily on the disciplining effect of audiences that evaluate for conformity. This literature often characterizes categories as benign organizing devices that bring order to social life. However, categories are also contentious political and cultural productions. This is especially so, when the categories are hybrid. Employing a qualitative case study of an impact investing organization operating in Sub-Saharan Africa, we illustrate how the construction and maintenance of hybrid categories can have potentially advantageous effects for certain actors by shaping the architecture of knowledge and transferring legitimacy to otherwise illegitimate actors or nascent practices. The findings of this study highlight how some hybrid categories can be used to create and maintain unequal relations of power.

This special “Anbar Abstracts” issue of the Marketing Intelligence & Planning is split into nine sections covering abstracts under the following headings: Marketing Strategy; Customer Service; Sales Management/Sundry; Promotion; Marketing Research/Customer Behaviour; Product Management; Logistics and Distribution.

Based on the 5th wave/tomorrow age theory, we are living in the world that is in necessity to change. Rapid urbanization causes global challenges such as economic problems and recessions, environmental challenges, climate change, social instability, health diseases, biological attached, and crisis caused by technological dominations. These challenges threaten the world, humanity, and human beings. Therefore, it is vital to tackle and struggle with them in order to maintain the world and improve quality of livability and quality of life to achieve sustainability. Generally, modern Blue-Green urban areas and smart cities with high quality of livability and life are proposed to deal with urbanization challenges to maintain the world and improve quality of human life. Based on Prof. Doost's 5th wave theory, related theories, concepts and models like Doost Risk Mitigation Method (DRMM), and also his experience on sustainability as best practice such as cooperating with Danish Sustainable Platforms Company, working as an academic leader at IoE/EQ EU Erasmus Plus project in Germany during 2017–2020, cooperating with former mayor of Copenhagen, consulting the German MV State Minister of Energy, Digitalization, and Infrastructure to cooperate with Iran in 2016, more than 15 years holding lecture and research internationally about risk and risk management on mobility in different universities like (TU Berlin) Technical University of Berlin (EUREF Campus, Sustainable Mobility Management and Sustainability Building) and also achieving a honorary doctorate in sustainable development management, a practical model concerned on risk management in mobility to provide comprehensive global Blue-Green clean sustainable urban mobility risk mitigation strategic plan is given. Therefore, in this chapter, impact of risk management on mobility to provide sustainable global urban mobility plan in order to create modern Blue-Green sustainable urban area and future smart cities through the 5th wave theory are explored. Fundamentally, the main goal of the research is to have an applied study about mobility risk mitigation and utilize it as a key to create comprehensive global urban mobility risk mitigation plan toward Blue-Green sustainable clean mobility technologies to create modern sustainable smart cities through the tomorrow age theory in order to create livable urban area with high quality of livability and life. In addition, the risks in mobility through the DRMM are measured to analyze the risk and to do risk mitigation and mobility project improvement to move to sustainable mobility and high sustainability in future smart cities.

The purpose of this paper is to present a process model of value-adding corporate real estate and facilities management and indicators that can be used to measure and benchmark workplace performance and the added value of workplace interventions for an organisation.

The paper compares the performance measurement and benchmarking theory with current practice and data from different work environments. The paper builds on two books on adding value through buildings, facilities and services, both edited and co-authored by the authors of this paper. The books were based on literature reviews, interviews with practitioners, cross-border studies of performance measurement and benchmarking and in-depth analyses of various value parameters by experts from different countries. In addition, theory and empirical examples of benchmarking have been included.

The paper presents 12 value parameters that are seen as relevant in measuring and benchmarking of workplace performance: four people-oriented, four business processes-related, two economic and two social parameters. Because not all values can be easily expressed in monetary units, various other ways of measuring are presented that can help to monitor and to benchmark workplace performance. The 12 values and ways to measure can be used to support a more integrated business case approach that goes beyond “dollar-metrics” and spreadsheet-based decision-making. Both quantitative and qualitative performance indicators, including hard and soft factors, are needed to define the trade-off between the costs and benefits of interventions in corporate real estate, facilities and services and to cope with the interests and needs of different stakeholders.

To add value to an organisation, workplaces have to provide value for money by a positive trade-off between the benefits, i.e. support of the organisational objectives and the primary processes and the costs, time and risks connected with achieving these benefits. Widely used indicators to measure the costs are the investment costs, running costs and total cost of occupancy. These metrics are primarily connected to efficiency, i.e. to optimal use of the resources of a firm, but much less to effectiveness and benefits such as user satisfaction, productivity, health and well-being.

The paper links performance measurement and benchmarking to value-adding corporate real estate and facilities management and presents new ways to measure and benchmark the performance of buildings, facilities and services in connection to organisational performance.

The purpose of this paper is to investigate the information content of the variables that can help detecting external and internal imbalances in an early stage. The starting point is the Scoreboard, where nine indicators are chosen in order to increase macroeconomic surveillance of all member states.

This paper provides an overview of the variables that could be informative for imbalances by focusing on EU-27 countries over the period 1960-2010. The number of chosen variables is 28, and they are aggregated in six macro-areas. Therefore, once an imbalance is observed in any of those areas, it is possible to detect in a simple way which specific variable is determining such outcome.

In general, this approach provides reliable signal to the policy-makers about the indicators that can drive imbalances within the area, shedding light on the relationship among the variables included in the analysis, too.

In fact, the empirical results underline some well-known critical issue for several countries, and is largely in line with results obtained in a variety of EC and OECD studies.

The main added value of the approach adopted in this paper is the introduction of more variables than those initially proposed by the European Commission in the construction of the Scoreboard. This provides more information about the macroeconomic situation in each country, preserving, however, the simplicity of the analysis as the variables are aggregated by homogeneous areas.

Nowadays, sustainable, clean, inclusive, innovative, and smart mobility in addition to urban transformation is required to achieve sustainable development as a path to preserve the world for future concerns and improve quality of life at the present, even to be kept up with growing citizens' needs. Mobility as an infrastructure component plays fundamental roles in urban transformation, and economic development. In this chapter, and based on the 5^th wave theory, related theories, models, and concepts, modern, clean, and inclusive mobility founded on high future of 4th technologies (which is called 5th technologies), digitalization, smartness, sustainability, and CSR 2.0 strategies is declared as proper clean mobility technologies to create sustainable and smart cities. Such smart cities are able to deal with challenges made by rapid, unplanned urbanization and globalization to achieve sustainable development. In this research, roles of inclusive and smart mobility systems as path to create modern and sustainable urban areas to make the world more sustainable and livable for living are declared. Literature reviews, case studies, interviews, and questionaries are applied as main methods to recognize inclusive and modern mobility and its roles in urban transformation to achieve sustainable development. This chapter is based on know-how and do-how of the author Prof. Hamid Doost on sustainability such as cooperating with Danish Sustainable Platforms Company, working with Erasmus Plus as an academic leader in Germany since 2017, cooperating with Copenhagen's former mayor and researching on sustainability. In this chapter, impact of sustainable mobility, sustainable buildings, and smart cities on CSR 2.0 and social responsibility, how these parameters improve sustainable development and sustainability in social responsibility, corporate social responsibility (CSR), and how social responsibility could influence humanities are explored.

The present effects of transnational corporations (TNCs) on social, health, and environmental aspects of local societies have a long history. The pre-conditions for the insertion of the types of economic initiatives now seen in the Global South, and driven by TNCs, were set through histories of colonialism and development schemes. These initiatives disrupted local economies and modified environments, delivering profound effects on livelihoods. These effects were experienced as structural violence, and have produced social suffering through the decades.

In this paper, we compare two African cases across time; the conjunction of development initiatives and structural adjustment in the Zambezi Valley, Zimbabwe in the early 1990s and industrial plantation forestry in present-day Uganda. Each case presents a specific constellation of political and economic forces that has produced prejudicial effects on local populations in their time period of application and are, essentially, different versions of structural violence that produce social suffering. While each case depicts a specific type of violent encounter manifest at a particular historical moment, these are comparable in the domains of environmental impacts, disruptions to societies, co-opting of local economies, disordering of systems of meaning and social reproduction, and nefarious effects on well-being. We analyze the conjunction of these effects through a theoretical lens of structural violence and social suffering. Our analysis draws particular attention to the role of TNCs in driving this structural violence and its effects.