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Open Access
Article
Publication date: 11 March 2020

Nussaiba Ashraf

This study aims to investigate the decline of American hegemony as one of the most prominent crises of the modern world order, from a broader perspective that transcends narrow…

8040

Abstract

Purpose

This study aims to investigate the decline of American hegemony as one of the most prominent crises of the modern world order, from a broader perspective that transcends narrow traditional interpretations. The paper assumes that the September 11 events in 2001 have launched the actual decline in American hegemony. Tracing the evolution of US global strategy over the past two decades, the study seeks to analyze the main causes and repercussions of the decline of US hegemony, which would provide a bird’s eye view of what the current global system is going through.

Design/methodology/approach

The study investigates the decline in American hegemony through a longitudinal within-case analysis which focuses on the causal path of decline in hegemony in the case of the USA, since the events of September 11, 2001, and tries to identify the causal mechanisms behind this decline. Following George and Bennet (2005), the study uses process tracing to examine its research question. Process-tracing method seeks to identify the intervening causal process – causal chain or causal mechanisms or the steps in a causal process – that leads to the outcome of a particular case in a specific historical context (Mahoney, 2000; Bennet and Elman, 2006). The study chose this method, as it offers more potential for identifying causal mechanisms and theory testing (George and Bennet, 2005); it opted for a specific procedure, among the variety of process-tracing procedures listed by George and Bennet, which is the detailed narrative presented as a chronicle, accompanied by explicit causal hypotheses. Using this process tracing procedure, the study assumes that American hegemony has witnessed dramatic changes in the aftermath of critical junctures, particularly the events of September 11, 2001, and the financial crises, 2008, which contributed significantly to this decline. Consequently, it traces the impact of these events on the state of American hegemony, in light of the review of contributions of different theories on hegemony in the field of international relations, both traditional and critical. Consequently, introducing the theoretical framework used in the study (the four-dimensional model of hegemony), which transcends criticisms of previous theories.

Findings

The crises of the modern world order and the decline of American hegemony – being the main manifestation of such crises – revealed the inability of the traditional and critical approaches reviewed in the study to interpret this decline and those crises. The reason behind that was the inability of these interpretations to reflect the various dimensions of American hegemony and its decline since the September 11 events. This highlights the importance of using the four-dimensional model, which combines different factors in the analysis and has proved to be an appropriate model for studying the case of American hegemony and its decline after the events of September 11, as it deals with the phenomenon of hegemony as a social relationship based on specific social networks.

Originality/value

Despite the currency and relevance of the decline of US hegemony for both the academic and political world, the topic needed to be analyzed systemically and addressed in a thorough scientific way. Through the application of theoretical concepts into the analysis of empirical data, this study contributes to a field where too often the discourse about decline of American hegemony is led without the required theoretical or conceptual considerations.

Details

Review of Economics and Political Science, vol. 8 no. 6
Type: Research Article
ISSN: 2356-9980

Keywords

Expert briefing
Publication date: 15 September 2023

Three of the four existing AUMFs can be repealed with little objection but the fourth, passed after the September 11, 2001 attacks and still used as a blanket authorisation for…

Details

DOI: 10.1108/OXAN-DB281829

ISSN: 2633-304X

Keywords

Geographic
Topical
Book part
Publication date: 7 February 2024

Elveta D. Smith

The years following the 9/11/2001 terrorists attacks saw a marked increase in community and hospital emergency preparedness, from communications across community networks…

Abstract

Purpose

The years following the 9/11/2001 terrorists attacks saw a marked increase in community and hospital emergency preparedness, from communications across community networks, development of policies and procedures, to attainment and training in the use of biological warfare resources. Regular drills ensured emergency and health care personnel were trained and prepared to address the next large-scale crisis, especially from terrorist and bioterrorist attacks. This chapter looks at some of the more familiar global health issues over the past two decades and the lessons learned from hospital responses to inform hospital management in preparation for future incidents.

Search Methods

This study is a narrative review of the literature related to lessons learned from four major events in the time period from 2002 to 2023 – SARS, MERS, Ebola, and COVID-19.

Search Results

The initial search yielded 25,913 articles; 57 articles were selected for inclusion in the study.

Discussion and Conclusions

Comparison of key issues and lessons learned among the four major events described in this article – SARS, MERS, Ebola, and COVID-19 – highlight that several lessons are “relearned” with each event. Other key issues, such as supply shortages, staffing availability, and hospital capacity to simultaneously provide care to noninfectious patients came to the forefront during the COVID-19 pandemic. A primary, ongoing concern for hospitals is how to maintain their preparedness given competing priorities, resources, and staff time. This concern remains post-COVID-19.

Details

Research and Theory to Foster Change in the Face of Grand Health Care Challenges
Type: Book
ISBN: 978-1-83797-655-3

Keywords

Abstract

Details

Business and Management Doctorates World-Wide: Developing the Next Generation
Type: Book
ISBN: 978-1-78973-500-0

Abstract

Details

Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

Open Access
Article
Publication date: 4 April 2023

Hong Mao and Krzysztof Ostaszewski

The authors consider the mutual benefits of the ceding company and reinsurance company in the design of reinsurance contracts. Two objective functions to maximize social expected…

Abstract

Purpose

The authors consider the mutual benefits of the ceding company and reinsurance company in the design of reinsurance contracts. Two objective functions to maximize social expected utilities are established, which are to maximize the sum of the expected utilities of both the ceding company and reinsurance company, and to maximize their products. The first objective function, additive, emphasizes the total gains of both parties, while the second, multiplicative, accounts for the degree of substitution of gains of one party through the loss of the other party. The optimal price and retention of reinsurance are found by a grid search method, and numerical analysis is conducted. The results indicate that the optimal solutions for two objective functions are quite different. However, optimal solutions are sensitive to the change of the means and volatilities of the claim loss for both objective functions. The results are potentially valuable to insurance regulators and government entities acting as reinsurers of last resort.

Design/methodology/approach

In this paper, the authors apply relatively simple, but in the view significant, methods and models to discuss the optimization of excess loss reinsurance strategy. The authors only consider the influence of loss distribution on optimal retention and reinsurance price but neglect the investment factor. The authors also consider the benefits of both ceding company and reinsurance company to determine optimal premium and retention of reinsurance jointly based on maximizing social utility: the sum (or the product) of expected utilities of reinsurance company and ceding company. The authors solve for optimal solutions numerically, applying simulation.

Findings

This paper establishes two optimization models of excess-of-loss reinsurance contract against catastrophic losses to determine optimal premium and retention. One model considers the sum of the expected utilities of a ceding company and a reinsurance company's expected utility; another considers the product of them. With an example, the authors find the optimal solutions of premium and retention of excess loss reinsurance. Finally, the authors carry out the sensitivity analysis. The results show that increasing the means and the volatilities of claim loss will increase the optimal retention and premium. For objective function I, increasing the coefficients of risk aversion of or reducing the coefficients of risk aversion of will make the optimal retention reduced but the optimal premium increased, and vice versa. However, for objective function 2, the change of coefficient of risk aversion has no effect on optimal solutions.

Research limitations/implications

Utility of the two partners: The ceding company and the reinsurance company, may have different weights and different significance. The authors have not studied their relative significance. The simulation approach in numerical methods limits us to the probability distributions and stochastic processes the authors use, based on, generally speaking, lognormal models of rates of return. This may need to be generalized to other returns, including possible models of shocks through jump processes.

Practical implications

In the recent two decades, reinsurance companies have played a great role in hedging mega-catastrophic losses. For example, reinsurance companies (and special loss sharing arrangements) paid as much as two-thirds of the insured losses for the September 11, 2001 tragedy. Furthermore, large catastrophic events have increased the role of governments and regulators as reinsurers of last resort. The authors hope that the authors provide guidance for possible balancing of the needs of two counterparties to reinsurance contracts.

Social implications

Nearly all governments around the world are engaged in regulation of insurance and reinsurance, and some are reinsurers themselves. The authors provide guidance for them in these activities.

Originality/value

The authors believe this paper to be a completely new and original contribution in the area, by providing models for balancing the utility to the ceding insurance company and the reinsurance company.

研究目的

我們探討分出公司和再保險公司在再保險合約的設計上、如何能達至互利互惠。研究確立了兩個目標函數,分別為把分出公司和再保險公司兩者之預期效用的總和最大化,以及把它們的產品最佳化。第一個目標函數是加法的,強調兩個參與方的總增益;而第二個目標函數則是乘法的,這個目標函數,闡釋參與方因另一方虧損而有所收益之取代度。再保險的最佳價格和自留額是利用網格搜索法找出的,數值分析也予以進行。研究結果顯示,兩個目標函數的最佳解決方案甚為不同。唯最佳解決方案會對就這兩個目標函數而言的追討損失的波動、以及其平均值之改變產生敏感反應。研究結果將會見其價值於作為在萬不得已的時候的再保險人的保險業規管機構和政府實體。

研究設計/方法/理念

在這學術論文裡,我們採用了相對簡單、但我們認為是重要的方法和模型,來探討超額賠款再保險策略的優化課題。我們只考慮虧損分佈對最佳自留額和再保險價格的影響,而不去檢視投資因素。我們亦考慮對分出公司和再保險公司兩者的利益,來釐定最佳保費和再保險的自留額,而這兩者則共同建基於把社會效益最大化之上:再保險公司和分出公司的預期效益的總和 (或其積數) 。 我們採用類比模仿方法、來解決尋求在數字上最佳解決方案的問題。

研究結果

本研究建立了就應對嚴重虧損而設的兩個超額賠款再保險合約的優化模型,來釐定最佳的保費和自留額。其中一個模型考慮了分出公司和再保險公司兩者各自的預期效益的總和。另外的一個模型則考慮了兩者的預期效益的積數。透過例子,我們找到了保費和超額虧損再保險自留額的最佳解決方案。最後,我們進行了敏感度分析。研究結果顯示、若增加追討損失的平均值和波動,則最佳自留額和保費也會隨之而增加。就第一個目標函數而言,若增加風險規避係數、或減少這個係數,則最佳自留額會隨之而減少,但最佳保費卻會隨之而增加,反之亦然。唯就第二個目標函數而言,風險規避係數的改變,對最佳解決方案是沒有影響的。

研究的局限/啟示

  • – 有關的兩個夥伴之效用性:分出公司和再保險公司或有不同的份量和重要性。我們沒有探討兩者的相對重要性。

  • – 我們以數值方法為核心的類比模仿研究法、使我們局限於機率分配和一般而言建基於投資報酬率對數常態模型之隨機過程的使用。我們或許需要調節研究法。以能概括其它回報收益,包括透過跳躍過程而可能達至之沖擊模型。

– 有關的兩個夥伴之效用性:分出公司和再保險公司或有不同的份量和重要性。我們沒有探討兩者的相對重要性。

– 我們以數值方法為核心的類比模仿研究法、使我們局限於機率分配和一般而言建基於投資報酬率對數常態模型之隨機過程的使用。我們或許需要調節研究法。以能概括其它回報收益,包括透過跳躍過程而可能達至之沖擊模型。

實務方面的啟示

在過去20年裡,再保險公司在控制極嚴重災難性的損失上曾扮演重要的角色。例如、再保險公司 (以及特殊的損失分擔安排) 為了2001年9月11日的災難事件而支付多至保險損失的三分之二的費用。而且,重大的災難性事件使政府及作為最後出路再保險人的調控者得扮演更重要的角色。我們希望研究結果能為再保險合約兩對手提供指導,以平衡雙方的需要。

社會方面的啟示

全球差不多每個政府都參與保險和再保險的管理工作,有部份更加本身就是再保險人。研究結果為他們的管理工作提供了指導。

研究的原創性/價值

我們相信本學術論文、提供了平衡分出保險公司和再保險公司效用性的模型,就此而言,本論文在相關的領域上作出了全新和獨創性的貢獻。

Details

European Journal of Management and Business Economics, vol. 32 no. 4
Type: Research Article
ISSN: 2444-8451

Keywords

Expert briefing
Publication date: 5 October 2023

Adams wants to tell potential migrants in the region that New York is “at capacity”. Last week’s heavy flooding underscored the frailties of the city’s 19th-century…

Article
Publication date: 14 June 2022

John Umit Palabiyik, Brendan Cronin, Suzanne D. Markham Bagnera and Mark P. Legg

This study investigates restaurant patrons' comfort level with the sudden shift in the dining-in climate within the state of Massachusetts during the onset of the COVID-19…

Abstract

Purpose

This study investigates restaurant patrons' comfort level with the sudden shift in the dining-in climate within the state of Massachusetts during the onset of the COVID-19 pandemic.

Design/methodology/approach

An exploratory study utilized learning algorithms via gradient boosting techniques on surveyed restaurant patrons to identify which restaurant operational attributes and patron demographics predict in-dining comfort levels.

Findings

Past consumers' eating habits determine how much their behavior will change during a pandemic. However, their dining-in frequency is not a predictor of their post-pandemic dining-in outlook. The individuals who were more comfortable dining in prior to the pandemic dined in more often during the COVID pandemic. However, they had a poorer outlook on when dining in would return to normal. Although there are no clear indicators of when and how customers will embrace the new norm (a combination of pre-, peri-, and post-pandemic), the results show that some innovative approaches, such as limiting service offerings, are not well accepted by customers.

Practical implications

The study offers several managerial implications for foodservice providers (i.e. restaurants, delivery services, pick-up) and investors. In particular, the study provides insights into the cognitive factors that determine diners' behavioral change in response to a pandemic and their comfort level. Operators must pay attention to these factors and consider different offering strategies when preparing to operate their business amid a pandemic.

Originality/value

This is a study of a specific location and period. It was conducted in Massachusetts before a vaccine was available. The restaurant industry was beset with uncertainty. It fills a gap in the current literature focused on the COVID-19 pandemic in customers' transition from pre-COVID-19 dining-in behaviors to customers' refreshed COVID-19 outlook and industry compliance with newly established hygiene and safety standards.

Details

Journal of Hospitality and Tourism Insights, vol. 6 no. 4
Type: Research Article
ISSN: 2514-9792

Keywords

Open Access
Article
Publication date: 12 December 2019

Ghada Ahmed Abdel Aziz

This paper aims to explore to what extent can the Saudi–US alliance endure, given the several challenges it has faced over the past decade. Using a conceptual framework from the…

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Abstract

Purpose

This paper aims to explore to what extent can the Saudi–US alliance endure, given the several challenges it has faced over the past decade. Using a conceptual framework from the alliance theory, the paper will trace the historical evolution of the alliance between the two countries, then will identify some of the challenges that have faced the alliance on both the regional and bilateral levels, and finally will assess the impact of these challenges on the resilience of the Saudi–US alliance.

Design/methodology/approach

This paper will use the alliance theory literature to analyze the challenges and the resilience of the Saudi–US relations.

Findings

The Saudi–US alliance has encountered several challenges in the past decade such as the Arab spring, the Iranian nuclear deal and the Civil War in Syria and Yemen. However, this alliance proved to be resilient, and the strategic partnership between the two countries managed to overcome these challenges.

Originality/value

The importance of this paper stems from the fact that the USA and the Saudi Arabia are two pivotal countries, and their relationship affects regional and international dynamics. The paper contributes to the literature on the Saudi–US bilateral relations as well as their views on recent regional issues such as the Arab Spring, the civil war in Yemen and Syria. Assessing the limits and potentials of the alliance between the two countries could also help us understand the future of regional developments in the Middle East.

Details

Review of Economics and Political Science, vol. 8 no. 3
Type: Research Article
ISSN: 2356-9980

Keywords

Open Access
Article
Publication date: 7 April 2022

Suzanna Elmassah, Shereen Bacheer and Eslam Hassanein

This research's main objective is to investigate the relationship between consumption expenditure and consumer confidence in the USA and to study their effects on US economic…

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Abstract

Purpose

This research's main objective is to investigate the relationship between consumption expenditure and consumer confidence in the USA and to study their effects on US economic revivalism during and after the coronavirus disease 2019 (COVID-19) shock.

Design/methodology/approach

The authors use Michigan's monthly Consumer Sentiment Index and its five components from January 1978 to April 2020. The study is unique in quantifying the potential variations in US consumer confidence due to COVID-19 under different scenarios, by providing a projection until December 2021. It also estimates the time needed for recovery and offers guidance to policymakers on ways to contain the negative impacts of COVID-19 on the economy by restoring consumer confidence.

Findings

All scenarios show a gradual recovery of consumer confidence and consumption expenditure. This study recommends expansionary policies to encourage consumption expenditure to generate additional demand and boost economic growth and job creation.

Practical implications

Though this study is limited to the US consumer confidence index, it offers significant implications for marketers, customers and policymakers of other developed economies. The authors recommend expansionary economic policies to boost consumer confidence, raise economic growth and result in job creation.

Originality/value

The study is unique in quantifying the potential variations in US consumer confidence due to COVID-19 under different scenarios; by providing a projection until December 2021. It also estimates the time needed for recovery and guidance for policymakers on ways to contain the COVID-19 shock negative impacts on the economy by restoring consumer confidence.

Details

Review of Economics and Political Science, vol. 8 no. 3
Type: Research Article
ISSN: 2356-9980

Keywords

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