Search results1 – 10 of 18
Federal attempts to stimulate technological innovation have been unsuccessful because of the application of an inappropriate policy framework that lacks conceptual and…
Federal attempts to stimulate technological innovation have been unsuccessful because of the application of an inappropriate policy framework that lacks conceptual and empirical knowledge of the process of technological innovation and fails to acknowledge the relationship between knowledge production, transfer, and use as equally important components of the process of knowledge diffusion. This article argues that the potential contributions of high‐speed computing and networking systems will be diminished unless empirically derived knowledge about the information‐seeking behavior of the members of the social system is incorporated into a new policy framework. Findings from the NASA/DoD Aerospace Knowledge Diffusion Research Project are presented in support of this assertion.
The process by which technological innovations developed in one institution are discovered, acquired, and adapted for use by another institution.
This chapter analyses the private financial sector's policy responses, lending practices and various forms of engagement with non-governmental organisations (NGOs)…
This chapter analyses the private financial sector's policy responses, lending practices and various forms of engagement with non-governmental organisations (NGOs), communities and institutional clients involved in controversial commodity industries. The chapter demonstrates that secrecy plays a constitutive role in this engagement. For investment banks, client-confidentiality is the ultimate limit to transparency. At the same time, NGOs campaign to make public and reveal links between investment banks and clients in commodity industries. The chapter also explores techniques within the financial sector for the assessment of social and environmental risk. The chapter argues that these techniques combine both practices of uncertainty and practices of risk. For civil society organisations, NGOs and local communities, these techniques remain problematic, and various campaigns question both the robustness of the financial sector's social risk screening methods as well as the sustainability of the investments themselves.
In recent years Lehman Brothers, one of the five largest investment banks in the United States, had grown increasingly reliant on its fixed income trading and underwriting…
In recent years Lehman Brothers, one of the five largest investment banks in the United States, had grown increasingly reliant on its fixed income trading and underwriting division, which served as the primary engine for its strong profit growth. The bank had also significantly increased its leverage over the same timeframe, going from a debt-to-equity ratio of 23.7x in 2003 to 35.2x in 2007. As leverage increased, the ongoing erosion of the mortgage-backed industry began to impact Lehman significantly and its stock price plummeted. Unfortunately, public outcry over taxpayer assumption of $29 billion in potential Bear losses made repeating such a move politically untenable. The surreal scene of potential buyers traipsing into an investment bank's headquarters over the weekend to consider various merger or spin-out scenarios repeated itself once again. This time, the Fed refused to back the failing bank's liabilities, attempting instead to play last-minute suitors Bank of America, HSBC, Nomura Securities, and Barclay's off each other, jawboning them by arguing that failing to step up to save Lehman would cause devastating counterparty runs on their own capital positions. The Fed's desperate attempts to arrange its second rescue of a major U.S. investment bank in six months failed when it refused to backstop losses from Lehman's toxic mortgage holdings. Complicating matters was Lehman's reliance on short-term repo loans to finance its balance sheet. Unfortunately, such loans required constant renewal by counterparties, who had grown increasingly nervous that Lehman would lose the ability to make good on its trades. With this sentiment swirling around Wall Street, Lehman was forced to announce the largest Chapter 11 filing in U.S. history, listing assets of $639 billion and liabilities of $768 billion. The second domino had fallen. It would not be the last.
This case covers the period from the sale of Bear Stearns to JP Morgan to the conversion into bank holding companies by Goldman Sachs and Morgan Stanley, including the Lehman Brothers bankruptcy and the sale of Merrill Lynch to Bank of America. The case explains the new global paradigm for the investment banking industry, including increased regulation, fewer competitors, lower leverage, reduced proprietary trading, and-potentially-reduced profits.
The Equal Pay Act 1970 (which came into operation on 29 December 1975) provides for an “equality clause” to be written into all contracts of employment. S.1(2) (a) of the 1970 Act (which has been amended by the Sex Discrimination Act 1975) provides:
In order to succeed in an action under the Equal Pay Act 1970, should the woman and the man be employed by the same employer on like work at the same time or would the woman still be covered by the Act if she were employed on like work in succession to the man? This is the question which had to be solved in Macarthys Ltd v. Smith. Unfortunately it was not. Their Lordships interpreted the relevant section in different ways and since Article 119 of the Treaty of Rome was also subject to different interpretations, the case has been referred to the European Court of Justice.
WHILE there is no doubt that the system of issuing books at “net” prices is of great benefit to booksellers, there is also no doubt that, unless care is taken, it is a serious drain upon a limited book‐purchasing income. A few years ago the position had become so serious that conferences were held with a view to securing the exemption of Public Libraries from the “net” price. The attempt, as was perhaps to be expected, failed. Since that time, the system has been growing until, at the present time, practically every non‐fictional book worth buying is issued at a “net price.”
Drawing upon the evolutionary psychology perspective, the current research aims to investigate the conditions under which power (high vs low) and emotion (pride vs…
Drawing upon the evolutionary psychology perspective, the current research aims to investigate the conditions under which power (high vs low) and emotion (pride vs gratitude) can influence consumers to purchase products for others via two fundamental motives (the signaling and affiliative motives).
Three experiments are conducted. Study 1 demonstrates that consumers with high (low) power are more likely to choose a wine promoted with pride (gratitude) appeals. Study 2 shows that consumers in the high- (low-) power condition report a higher willingness to pay for a wine promoted with pride (gratitude) appeals. Study 3 replicates the findings of Study 2 using a different product advertisement (chocolate bars).
This study provides concrete empirical evidence that powerful consumers experiencing pride will engage in gift giving because of an increased signaling motive. In contrast, powerless consumers experiencing gratitude will engage in gift giving because of an increased affiliative motive.
This study explores the context of gift giving using wine and chocolate bars as the products. It would thus be of interest to examine and extend the effects in motivating other prosocial behaviors such as donating and volunteering.
The findings suggest how different states of power can be temporarily and purposively triggered and matched with the desired emotional appeals within adverting messages to increase persuasion.
This study illustrates a novel mechanism for gift giving from the evolutionary psychology perspective by showing that gift giving can be motivated by two distinct pathways – affiliative and signaling motives. Further, it tests how the interactive effects of power (high vs low) and emotion (pride vs gratitude) can activate such motives.